<SEC-DOCUMENT>0001104659-22-086791.txt : 20220808
<SEC-HEADER>0001104659-22-086791.hdr.sgml : 20220808
<ACCEPTANCE-DATETIME>20220805174842
ACCESSION NUMBER:		0001104659-22-086791
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20220808
DATE AS OF CHANGE:		20220805

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Vertical Aerospace Ltd.
		CENTRAL INDEX KEY:			0001867102
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRCRAFT [3721]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-262207
		FILM NUMBER:		221141911

	BUSINESS ADDRESS:	
		STREET 1:		UNIT 1 CAMWAL COURT
		STREET 2:		CHAPEL STREET
		CITY:			BRISTOL
		STATE:			X0
		ZIP:			BS2 0UW
		BUSINESS PHONE:		44 7799310595

	MAIL ADDRESS:	
		STREET 1:		UNIT 1 CAMWAL COURT
		STREET 2:		CHAPEL STREET
		CITY:			BRISTOL
		STATE:			X0
		ZIP:			BS2 0UW
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>tm2222526d3_424b3.htm
<DESCRIPTION>424B3
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Filed Pursuant to Rule 424(b)(3)<BR>
Registration No. 333-262207</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: left"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="text-transform: uppercase"><B>PROSPECTUS
SUPPLEMENT No. 3<BR>
(</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif">to prospectus dated May 5, 2022</FONT><FONT STYLE="text-transform: uppercase">)</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="tm2222526d3_424b3img001.jpg" ALT="">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>242,424,783
ORDINARY SHARES </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>4,000,000
WARRANTS TO PURCHASE ORDINARY SHARES</B></FONT></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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This prospectus supplement amends and supplements
the prospectus contained in our Post-effective Amendment No. 1 to our Registration Statement on Form F-1 (Registration Statement No.&nbsp;333-262207),
effective as of May 5, 2022 (as supplemented or amended from time to time, the &ldquo;Prospectus&rdquo;). This prospectus supplement is
being filed to update and supplement the information included or incorporated by reference in the Prospectus with the information contained
in our Current Report on Form 6-K, which was filed with the U.S. Securities and Exchange Commission on August 5, 2022 (the &ldquo;Form
6-K&rdquo;). Accordingly, we have attached the Form 6-K to this prospectus supplement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This prospectus supplement updates and supplements
the information in the Prospectus and is not complete without, and may not be delivered or utilized except in combination with, the Prospectus,
including any amendments or supplements thereto. This prospectus supplement should be read in conjunction with the Prospectus and if there
is any inconsistency between the information in the Prospectus and this prospectus supplement, you should rely on the information in this
prospectus supplement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our ordinary shares and public warrants are listed
on the New York Stock Exchange (&ldquo;NYSE&rdquo;) under the symbol &ldquo;EVTL.&rdquo; On August 4, 2022, the last reported sale price
of our ordinary shares as reported on the NYSE was $8.01 per share. Our public warrants are listed on the NYSE under the symbol &ldquo;EVTLW.&rdquo;
On August 4, 2022, the last reported sale price of our public warrants as reported on NYSE was $0.62 per warrant.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Investing in our securities involves a high
degree of risk. See &ldquo;<I>Risk Factors</I>&rdquo; beginning on page 7 of the Prospectus for a discussion of information that should
be considered in connection with an investment in our securities.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Neither the Securities and Exchange Commission
nor any state securities commission has approved or disapproved of these securities or determined if the Prospectus or this prospectus
supplement is truthful or complete. Any representation to the contrary is a criminal offense.&nbsp;</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The date of this prospectus supplement is August
5, 2022.&nbsp;</P>

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

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

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

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

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

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



<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES </B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>

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

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

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 6-K</B></P>

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

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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>REPORT OF FOREIGN PRIVATE ISSUER </B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For the month of August 2022 </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number: 001-41169</B></P>

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

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

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Vertical Aerospace Ltd.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact Name of Registrant as Specified in Its
Charter) </B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Unit 1 Camwal Court, Chapel Street</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Bristol BS2 0UW</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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">Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.</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">Form 20-F&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form
40-F&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></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">Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1):&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT></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">Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7):&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></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"></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>INFORMATION CONTAINED IN THIS REPORT ON FORM
6-K</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On August 5, 2022, Vertical Aerospace Ltd. (the &ldquo;Company&rdquo;)
entered into a Share Purchase Agreement (the &ldquo;Purchase Agreement&rdquo;) and a Registration Rights Agreement (the &ldquo;Registration
Rights Agreement&rdquo;), each with Nomura Securities International, Inc. (&ldquo;Nomura&rdquo;) relating to an equity subscription line. Pursuant to and subject to the conditions set forth in the Purchase Agreement, the Company has
the right from time to time during the term of the Purchase Agreement, in its sole discretion, to sell to Nomura up to $100 million (the
 &ldquo;Total Commitment&rdquo;) in aggregate gross purchase price of the Company&rsquo;s newly issued ordinary shares, par value $0.0001
per share (the &ldquo;Shares&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">Upon the satisfaction of the conditions to Nomura&rsquo;s purchase
obligation set forth in the Purchase Agreement (the &ldquo;Commencement&rdquo;), including that a registration statement registering the
resale by Nomura of the Shares that may be issued and sold to it by the Company under the Purchase Agreement (the &ldquo;Initial Resale
Registration Statement&rdquo;) under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), which the Company agreed
to file with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) pursuant to the Registration Rights Agreement, is declared
effective by the SEC, and a final prospectus relating thereto is filed with the SEC, the Company will have the right, but not the obligation,
from time to time in its sole discretion over the 36-month period from and after the Commencement to direct Nomura to purchase up to a
specified maximum amount of its ordinary shares as set forth in the Purchase Agreement by delivering written notice to Nomura (such notice,
a &ldquo;VWAP Purchase Notice&rdquo;) on any trading day, so long as all Shares subject to all prior purchases by Nomura under the Purchase
Agreement have theretofore previously been issued to Nomura and subject to the satisfaction of certain conditions. The purchase price
of the Shares that the Company elects to sell Nomura pursuant to the Purchase Agreement will be determined by reference to the volume-weighted
average price of the Shares (&ldquo;VWAP&rdquo;) during the applicable purchase period on the applicable purchase date on which the Company
has timely delivered a VWAP Purchase Notice to Nomura directing it to purchase Shares under the Purchase Agreement, less a fixed 4.25%
discount to such VWAP. However, if the Company elects to set a fixed floor price as set forth by the Company in a VWAP Purchase Notice, the VWAP of the Shares on the applicable purchase date shall be determined by excluding all trades at a price below the applicable floor
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">From and after Commencement, the Company will control the timing and
amount of any sales of Shares to Nomura under the Purchase Agreement. Sales of Shares, if any, to Nomura under the Purchase Agreement
will depend on a variety of factors, including, among other things, market conditions, the trading price of the Company&rsquo;s ordinary
shares and determination by the Company regarding the use of proceeds from any sale of such Shares. The Company may ultimately decide
to sell to Nomura all, some or none of the Shares that may be available for it to sell to Nomura pursuant to the Purchase 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">As a &ldquo;foreign private issuer,&rdquo; the Company has chosen to
follow the laws of the Cayman Islands regarding shareholder approval prior to the issuance of more than 20% of its outstanding share capital,
which does not require shareholder approval for such issuances. However, pursuant to the Purchase Agreement, in no event may the Company
issue to Nomura with respect to each purchase more than (1) 20% of the total number (or volume) of ordinary shares traded on the New York
Stock Exchange or any other Principal Market (as defined in the Purchase Agreement) during the applicable purchase period on the applicable
purchase date, or (2) more than 7 million Shares. In addition, Nomura is not obligated to buy any Shares under the Purchase Agreement
if such Shares, when aggregated with all other ordinary shares then beneficially owned by Nomura and its affiliates (as calculated pursuant
to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder), would result in Nomura beneficially owning ordinary shares
in excess of 4.99% of the Company&rsquo;s outstanding ordinary shares.</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 net proceeds from any sales under the Purchase Agreement will depend
on the frequency with, and prices at, which Shares are sold to Nomura. The Company will have broad discretion over the use of proceeds
from sales of Shares made pursuant to the Purchase Agreement. To the extent the Company sells Shares under the Purchase Agreement, it
currently plans to use any proceeds therefrom for working capital and other general corporate purposes. However, the Company has not determined
the specific allocation of any net proceeds among these potential uses, and the ultimate use of the net proceeds may vary from the currently
intended uses. The net proceeds may be used for corporate purposes that do not increase the Company&rsquo;s operating results or enhance
the value of its ordinary shares.</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">There are no restrictions on future financings, rights of first refusal,
participation rights, penalties or liquidated damages in the Purchase Agreement or Registration Rights Agreement other than (1) a prohibition
on entering (with certain limited exceptions) into a Variable Rate Transaction (as defined in the Purchase Agreement), during the term
of the Purchase Agreement, and (2) a prohibition on raising additional capital in the form of a private securities offering from the time
a purchase notice is delivered until two trading days following the applicable purchase date. Such transactions include, among others,
the issuance of convertible securities with a conversion or exercise price that is based upon or varies with the trading price of the
Company&rsquo;s ordinary shares after the date of issuance, or entry into any agreement for an &ldquo;equity line of credit&rdquo; or
an &ldquo;at the market offering&rdquo; (other than with Nomura), whereby the Company may sell ordinary shares at a future determined
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">At no time prior to the date of the Purchase Agreement has Nomura (or
any entity managed or controlled by it) engaged in or effected, in any manner whatsoever, directly or indirectly, for its own principal
account, any (i) &ldquo;short sale&rdquo; (as such term is defined in Rule 200 of Regulation SHO under the Exchange Act) of the Shares
or (ii) hedging transaction, in either case, which establishes a net short position with respect to the Shares that remains in effect
as of the date of the Purchase 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 Purchase Agreement and the Registration Rights Agreement
contain customary representations, warranties, conditions and indemnification obligations by each party. The representations,
warranties and covenants contained in such agreements were made only for purposes of such agreements and as of specific dates
(including the dates when the Company delivers a VWAP Purchase Notice), and are solely for the benefit of the parties to such
agreements and are subject to certain important limitations agreed upon by the contracting parties.</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 Purchase Agreement will automatically terminate on the earliest
to occur of (i) the first day of the month next following the date that is 36 months after the effective date of the Initial Registration
Statement, (ii) the date on which Nomura shall have purchased the Total Commitment worth of Shares pursuant to the Purchase Agreement,
(iii) the date on which the Shares shall have failed to be listed or quoted on the New York Stock Exchange or any other Principal Market
as defined in the Purchase Agreement, and (iv) the date on which, pursuant to or within the meaning of any bankruptcy law, the Company
commences a voluntary case or any person commences a proceeding against the Company, a custodian is appointed for the Company or for all
or substantially all of its property, or the Company makes a general assignment for the benefit of its creditors.</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 Company has the right to terminate the Purchase Agreement at any
time after Commencement, at no cost or penalty, effective upon three trading days&rsquo; prior written notice to Nomura. Nomura also has
the right to terminate the Purchase Agreement upon three trading days&rsquo; prior written notice to the Company, but only upon the occurrence
of certain customary events as listed in the Purchase Agreement. Neither the Company nor Nomura may assign the Purchase Agreement or the
Registration Rights Agreement or any of their respective rights or obligations thereunder to any person, and no provision of the Purchase
Agreement or the Registration Rights Agreement may be amended by the parties from and after the date that is one trading day immediately
preceding the filing of the Initial Registration Statement with the SEC.</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 foregoing descriptions of the Purchase Agreement and the Registration
Rights Agreement are qualified in their entirety by reference to the full text of the Purchase Agreement and Registration Rights Agreement,
which are attached to this Report on Form 6-K as Exhibit 99.1 and Exhibit 99.2, respectively, which are incorporated herein by reference.</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">This Report on Form 6-K shall not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other
jurisdiction.</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">In the Purchase Agreement, Nomura represented to the Company, among
other things, that it is an &ldquo;accredited investor&rdquo; (as such term is defined in Rule 501(a) of Regulation D under the Securities
Act). The ordinary shares that may be issued under the Purchase Agreement are being offered and sold in transactions exempt from registration
under the Securities Act, in reliance on the exemption afforded under Section 4(a)(2) 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: center"><B>EXHIBIT INDEX</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
<TD STYLE="border-bottom: black 1pt solid; text-align: center; width: 8%">Exhibit <BR>
No.</TD>
<TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
<TD STYLE="border-bottom: black 1pt solid; width: 91%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Description</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="font-size: 10pt">&nbsp;</TD>
<TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top"><A HREF="#a_001">99.1  &nbsp;</A></TD>
<TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
<TD STYLE="text-align: left; vertical-align: top"><A HREF="#a_001">Share Purchase
Agreement dated as of August 5, 2022, by and between Vertical Aerospace Ltd. and Nomura Securities International, Inc. </A></TD></TR>
<TR>
<TD STYLE="vertical-align: top"><A HREF="#a_002">99.2</A></TD>
<TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
<TD STYLE="text-align: left; vertical-align: top"><A HREF="#a_002">Registration Rights Agreement dated as of August 5, 2022, by and between Vertical Aerospace Ltd. and Nomura Securities International, Inc.</A></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>
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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>SIGNATURES </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">Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>Vertical Aerospace Ltd.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 46%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Date: August 5, 2022</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Vincent Casey</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Vincent Casey</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT><A NAME="a_001"></A><B>Exhibit&nbsp;99.1</B></FONT></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; text-align: center"><FONT STYLE="font-size: 10pt"><B>VERTICAL AEROSPACE
LTD.</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; text-align: center"><FONT STYLE="font-size: 10pt">and</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-align: center"><FONT STYLE="font-size: 10pt"><B>NOMURA SECURITIES
INTERNATIONAL,&nbsp;INC.</B></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"></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"><FONT STYLE="font-size: 10pt"><B>SHARE PURCHASE
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; text-align: center"><FONT STYLE="font-size: 10pt"><B>AUGUST&nbsp;5,
2022</B></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"></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"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>TABLE
OF CONTENTS</B></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 COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left; text-indent: -1in; padding-left: 1in">Article&nbsp;I DEFINITIONS</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left; width: 15%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 80%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left; text-indent: -1in; padding-left: 1in">Article&nbsp;II PURCHASE AND SALE OF SHARES</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;2.1.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Purchase and Sale of Shares</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;2.2.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Closing Date; Settlement Dates</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">5</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;2.3.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Initial Public Announcements and Required Filings</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">5</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left; text-indent: -1in; padding-left: 1in">Article&nbsp;III PURCHASE TERMS</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right">6</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;3.1.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">VWAP Purchases</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">6</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;3.2.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Settlement</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">7</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;3.3.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Compliance with Rules&nbsp;of Principal Market</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">8</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;3.4.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Beneficial Ownership Limitation</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">8</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left; text-indent: -1in; padding-left: 1in">Article&nbsp;IV REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE INVESTOR</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right">9</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;4.1.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Organization and Standing of the Investor</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">9</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;4.2.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Authorization and Power</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">9</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;4.3.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">No Conflicts</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">9</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;4.4.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Investment Purpose</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">9</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;4.5.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Accredited Investor Status</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">10</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;4.6.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Reliance on Exemptions</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">10</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;4.7.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Information</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">10</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;4.8.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">No Governmental Review</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">10</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;4.9.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">No General Solicitation</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">11</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;4.10.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Not an Affiliate</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">11</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;4.11.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">No Prior Short Sales</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">11</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;4.12.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Statutory Underwriter Status</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">11</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;4.13.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Resales of Shares</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">11</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;4.14.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Residency</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">11</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left; text-indent: -1in; padding-left: 1in">Article&nbsp;V REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right">12</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.1.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Organization, Good Standing and Power</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.2.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Subsidiaries</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.3.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Authorization, Enforcement</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.4.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Capitalization</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">13</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.5.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Issuance of Shares</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">13</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.6.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">No Conflicts</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">13</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; vertical-align: top; text-align: left">Section&nbsp;5.7.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Commission Documents, Financial Statements; Disclosure Controls and Procedures; Internal Controls Over Financial Reporting; Accountants</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">14</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.8.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">No Material Adverse Effect; Absence of Certain Changes</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">16</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.9.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">No Material Defaults</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">16</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.10.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">No Preferential Rights</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">17</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.11.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Material Contracts</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">17</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.12.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Solvency</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">17</TD></TR>
  </TABLE>


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<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; padding-left: 0.375in; width: 15%; text-align: left">Section&nbsp;5.13.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">Real Property; Intellectual Property</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">18</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.14.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Actions Pending</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">19</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.15.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Compliance with Law</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">19</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.16.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Certain Fees</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">19</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.17.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Disclosure</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">19</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.18.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Broker/Dealer Relationships</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">20</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.19.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Disclosure Controls</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">20</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.20.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Permits</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">20</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.21.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Environmental Compliance</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">21</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.22.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">No Improper Practices</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">21</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.23.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">AML Compliance</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">21</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.24.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Off-Balance Sheet Arrangements</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">22</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.25.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Transactions With Affiliates</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">22</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.26.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Labor Disputes</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">22</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.27.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Use of Proceeds</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">22</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.28.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Investment Company Act Status</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">22</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.29.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Taxes</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">22</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.30.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">ERISA</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">23</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.31.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Share Transfer Taxes</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">23</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.32.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Insurance</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">23</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.33.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Exemption from Registration</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">23</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.34.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">No General Solicitation or Advertising</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">23</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.35.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">No Integrated Offering</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">23</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.36.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Dilutive Effect</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">24</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.37.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Manipulation of Price</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">24</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.38.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Listing and Maintenance Requirements; DTC Eligibility</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">24</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.39.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Application of Takeover Protections</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">24</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.40.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">OFAC</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">25</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.41.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Information Technology; Compliance with Data Privacy Laws</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">25</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;5.42.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Acknowledgment Regarding Investor&rsquo;s Acquisition of Shares; Affiliate Relationships</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">26</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left; text-indent: -1in; padding-left: 1in">Article&nbsp;VI ADDITIONAL COVENANTS</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right">27</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;6.1.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Securities Compliance</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">27</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;6.2.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Reservation of Shares</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">27</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;6.3.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Registration and Listing</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">27</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;6.4.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Compliance with Laws</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">28</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;6.5.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Keeping of Records and Books of Account; Due Diligence</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">28</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;6.6.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">No Frustration; No Variable Rate Transactions</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">28</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;6.7.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Corporate Existence</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">29</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;6.8.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Fundamental Transaction</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">29</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;6.9.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Selling Restrictions</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">29</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;6.10.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Effective Registration Statement</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">30</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;6.11.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Blue Sky</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">30</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;6.12.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Non-Public Information</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">31</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;6.13.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Broker/Dealer</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">31</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;6.14.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Disclosure Schedule</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">31</TD></TR>
  </TABLE>


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<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; padding-left: 0.375in; width: 15%; text-align: left">Section&nbsp;6.15.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">Delivery of Bring-Down Opinions and Compliance Certificates Upon Occurrence of Certain Events</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">31</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left; text-indent: -1in; padding-left: 1in">Article&nbsp;VII CONDITIONS TO CLOSING AND CONDITIONS TO THE SALE AND PURCHASE OF THE SHARES</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right">33</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;7.1.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Conditions Precedent to Closing</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">33</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;7.2.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Conditions Precedent to Commencement</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">34</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; vertical-align: top; text-align: left">Section&nbsp;7.3.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Conditions Precedent to VWAP Purchases after Commencement Date</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">37</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left">Article&nbsp;VIII TERMINATION</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right">41</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;8.1.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Automatic Termination</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">41</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;8.2.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Other Termination</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">41</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;8.3.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Effect of Termination</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">42</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left">Article&nbsp;IX INDEMNIFICATION</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right">43</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;9.1.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Indemnification of Investor</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">43</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;9.2.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Indemnification Procedures</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">44</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left">Article&nbsp;X MISCELLANEOUS</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right">46</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;10.1.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Certain Fees and Expenses</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">46</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;10.2.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Specific Enforcement, Consent to Jurisdiction, Waiver of Jury Trial</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">46</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;10.3.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Entire Agreement</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">46</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;10.4.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Notices</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">47</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;10.5.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Waivers</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">48</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;10.6.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Amendments</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">48</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;10.7.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Headings</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">48</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;10.8.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Construction</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">48</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;10.9.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Binding Effect</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">48</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;10.10.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">No Third-Party Beneficiaries</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">48</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;10.11.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Governing Law</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">49</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;10.12.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Survival</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">49</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;10.13.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Counterparts</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">49</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;10.14.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Publicity</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">49</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;10.15.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Severability</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">49</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left">Section&nbsp;10.16.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Further Assurances</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">49</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="font: 10pt Times New Roman, Times, Serif; width: 7%; text-align: left">ANNEX I</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 93%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DEFINITIONS</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">EXHIBIT&nbsp;A</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FORM&nbsp;OF REGISTRATION RIGHTS AGREEMENT</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">EXHIBIT&nbsp;B</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CLOSING CERTIFICATE</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">EXHIBIT&nbsp;C</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COMPLIANCE CERTIFICATE</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">EXHIBIT&nbsp;D</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FORM&nbsp;OF VWAP PURCHASE 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"></P>

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<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; text-transform: uppercase; text-align: center">SHARE PURCHASE
AGREEMENT</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This <B>SHARE PURCHASE AGREEMENT</B> is made and
entered into as of August 5, 2022 (this &ldquo;<B><I>Agreement</I></B>&rdquo;), by and between Nomura Securities International, Inc.,
a New York corporation (the &ldquo;<B><I>Investor</I></B>&rdquo;), and Vertical Aerospace Ltd., a Cayman Islands exempted company with
limited liability (the &ldquo;<B><I>Company</I></B>&rdquo;).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>WHEREAS</B>, the parties desire that, upon the
terms and subject to the conditions and limitations set forth herein, the Company may issue and sell to the Investor, from time to time
as provided herein, and the Investor shall purchase from the Company, up to $100 million in aggregate gross purchase price of newly issued
ordinary shares, par value $0.0001 per share, of the Company (the &ldquo;<B><I>Shares</I></B>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>WHEREAS</B>, such sales of Shares by the Company
to the Investor will be made in reliance upon the provisions of Section 4(a)(2) of the Securities Act (&ldquo;<B><I>Section 4(a)(2)</I></B>&rdquo;),
and upon such other exemption from the registration requirements of the Securities Act as may be available with respect to any or all
of the issuances and sales of Shares by the Company to the Investor to be made hereunder;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>WHEREAS,</B> the parties hereto are concurrently
entering into a Registration Rights Agreement in the form attached as <U>Exhibit A</U> hereto (the &ldquo;<B><I>Registration Rights Agreement</I></B>&rdquo;),
pursuant to which the Company shall register the resale of the Registrable Securities (as defined in the Registration Rights Agreement),
upon the terms and subject to the conditions set forth therein; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>NOW, THEREFORE, </B>the parties hereto, intending
to be legally bound, hereby agree as follows:</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
I<U><BR>
DEFINITIONS</U></P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
II<U><BR>
PURCHASE AND SALE OF SHARES</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 2.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Purchase and Sale of Shares</U></FONT></B>. Upon the terms and subject to the conditions
of this Agreement, during the Investment Period, the Company, in its sole discretion, shall have the right, but not the obligation, to
issue and sell to the Investor, and the Investor shall purchase from the Company, up to $100 million (the &ldquo;<B><I>Total Commitment</I></B>&rdquo;)
in aggregate gross purchase price of duly authorized, validly issued, fully paid and non-assessable Shares (the &ldquo;<B><I>Aggregate
Limit</I></B>&rdquo;), by the delivery to the Investor of VWAP Purchase Notices as provided in Article III.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 2.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Closing Date; Settlement Dates</U></FONT></B>. This Agreement shall become effective and
binding (the &ldquo;<B><I>Closing</I></B>&rdquo;) upon (a) the delivery of counterpart signature pages of this Agreement and the Registration
Rights Agreement executed by each of the parties hereto and thereto, and (b) the delivery of all other documents, instruments and writings
required to be delivered pursuant to this Agreement, as provided in Section 7.1, at or prior to 9:00 a.m., New York City time, on the
Closing Date. In consideration of and in express reliance upon the representations, warranties and covenants contained in, and upon the
terms and subject to the conditions of, this Agreement, during the Investment Period, the Company, at its sole option and discretion,
may issue and sell to the Investor, and, if the Company elects to so issue and sell, the Investor shall purchase from the Company, the
Shares in respect of each VWAP Purchase (as defined below). The issue of Shares in respect of each VWAP Purchase, and the payment for
such Shares, shall occur in accordance with Section 3.2, provided that all of the conditions precedent in Article VII shall have been
fulfilled at the applicable times set forth in Article VII.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 2.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Initial Public Announcements and Required Filings</U></FONT></B>. The Company shall, within
four (4) business days following the date of this Agreement, furnish to the Commission a Report on Form 6-K disclosing the execution of
this Agreement and the Registration Rights Agreement by the Company and the Investor and describing the material terms thereof, and attaching
as exhibits thereto copies of each of this Agreement and the Registration Rights Agreement and, if applicable, any press release issued
by the Company disclosing the execution of this Agreement and the Registration Rights Agreement by the Company (including all exhibits
thereto, the &ldquo;<B><I>Current Report</I></B>&rdquo;). The Company shall provide the Investor and its legal counsel a reasonable opportunity
to comment on a draft of the Current Report prior to furnishing the Current Report to the Commission and shall give due consideration
to all such comments. The Company shall use its commercially reasonable efforts to prepare and, as soon as practicable, file with the
Commission the Initial Registration Statement and any New Registration Statement covering only the resale by the Investor of the Registrable
Securities in accordance with the Securities Act and the Registration Rights Agreement. At or before 8:30 a.m. (New York City time) on
the second (2nd) Trading Day immediately following the Effective Date of the Initial Registration Statement and any New Registration Statement
(or any post-effective amendment thereto), the Company shall use its commercially reasonable efforts to file with the Commission in accordance
with Rule 424(b) under the Securities Act the final Prospectus to be used in connection with sales pursuant to such Registration Statement
(or post-effective amendment thereto).</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
III<U><BR>
PURCHASE TERMS</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the satisfaction of the conditions set
forth in Article VII, the parties agree as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Section
3.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B></FONT><B><U>VWAP Purchases</U></B>. Upon the initial satisfaction of all of
the conditions set forth in Section 7.2 (the &ldquo;<B><I>Commencement</I></B>&rdquo; and the date of initial satisfaction of all of such
conditions, the &ldquo;<B><I>Commencement Date</I></B>&rdquo;) and from time to time thereafter, subject to the satisfaction of all of
the conditions set forth in Section 7.3, the Company shall have the right, but not the obligation, to direct the Investor, by its timely
delivery to the Investor of a VWAP Purchase Notice, in substantially the form attached hereto as <U>Exhibit D</U>, after 5:00 p.m., New
York City time on the trading day prior to the VWAP Purchase Date, and prior to 9:00 a.m., New York City time, on a VWAP Purchase Date,
to purchase the applicable VWAP Purchase Share Amount, not to exceed the applicable VWAP Purchase Maximum Amount, at the applicable VWAP
Purchase Price, which will not be lower than the applicable Floor Price set forth by the Company in the VWAP Purchase Notice, therefor
on such VWAP Purchase Date in accordance with this Agreement (each such purchase, a &ldquo;<B><I>VWAP Purchase</I></B>&rdquo;) with the
VWAP Purchase Period commencing at 9:30:01 a.m., New York City time. The Company may deliver a VWAP Purchase Notice by 10:00 a.m., New
York City time, with the VWAP Purchase Period commencing at 10:30 a.m., New York City time, on such VWAP Purchase Date, or after 10:00
a.m., New York City time, but prior to 11:00 a.m., New York City time, with the VWAP Purchase Period commencing at 11:30 a.m., New York
City time, on such VWAP Purchase Date; <U>however</U>, the Investor may, in its reasonable discretion, accept or reject such VWAP Purchase
Notice after 11:00 a.m., New York City time, on a VWAP Purchase Date, and such acceptance, once provided by the Investor to the Company,
shall be irrevocable and binding and the Company&rsquo;s obligation to deliver the Shares subject of such VWAP Purchase Notice shall be
binding. The Investor may also, in its sole discretion, accept additional VWAP Purchase Notices within a Trading Day. The Company may
timely deliver a VWAP Purchase Notice to the Investor as often as every Trading Day (and may deliver multiple VWAP Purchase Notices in
any given day), so long as all Shares subject to all prior VWAP Purchases theretofore required to have been received by the Investor as
DWAC Shares under this Agreement are instructed to be validly issued by the Transfer Agent (by updating the register of members of the
Company (the &ldquo;<B><I>Register of Members</I></B>&rdquo;) to reflect the same)to the Investor as DWAC Shares in accordance with this
Agreement, unless such requirement is expressly waived by the Investor. The Investor is obligated to accept each VWAP Purchase Notice
prepared and delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this
Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess
of the applicable VWAP Purchase Maximum Amount, such VWAP Purchase Notice shall be void <I>ab initio</I> to the extent of the amount by
which the VWAP Purchase Share Amount set forth in such VWAP Purchase Notice exceeds such applicable VWAP Purchase Maximum Amount, and
the Investor shall have no obligation to purchase such excess Shares in respect of such VWAP Purchase Notice; <U>provided</U>, <U>however</U>,
that the Investor shall remain obligated to purchase the applicable VWAP Purchase Maximum Amount in such VWAP Purchase. Each VWAP Purchase
Notice must include a VWAP Purchase Share Estimate. Each VWAP Purchase Notice must be accompanied by instructions to the Company&rsquo;s
Transfer Agent to update the Register of Member and immediately issue to the Investor an amount of Shares equal to a good faith estimate
by the Company of the number of Shares constituting the applicable VWAP Purchase Share Amount that the Investor shall have the obligation
to purchase pursuant to the VWAP Purchase Notice (the &ldquo;<B><I>VWAP Purchase Share Estimate</I></B>&rdquo;). In no event shall the
Investor, pursuant to any VWAP Purchase, purchase a number of Shares constituting the applicable VWAP Purchase Share Amount that exceeds
the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; <U>however</U>, the Investor
will immediately instruct the Transfer Agent to return to the Company any Shares issued pursuant to the VWAP Purchase Share Estimate that
exceeds the number of Shares constituting the applicable VWAP Purchase Share Amount the Investor actually purchases in connection with
such VWAP Purchase. At or prior to 5:30 p.m., New York City time, on the VWAP Purchase Date for each VWAP Purchase, the Investor shall
provide to the Company a written confirmation for such VWAP Purchase (each, a &ldquo;<B><I>VWAP Purchase Confirmation</I></B>&rdquo;)
setting forth the applicable VWAP Purchase Price per Share to be paid by the Investor in such VWAP Purchase, and the total aggregate VWAP
Purchase Price to be paid by the Investor for the total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. If
the Company designates a Floor Price in its VWAP Purchase Notice, the VWAP for such VWAP Purchase Date shall exclude all trades at a price
below such Floor Price. The Investor shall specify this adjustment to the VWAP in the VWAP Purchase Confirmation. Notwithstanding the
foregoing, (i) the Company shall not deliver any VWAP Purchase Notices to the Investor during the PEA Period and (ii) following the delivery
of a VWAP Purchase Notice, the Company shall not raise additional capital, in the form of a private securities offering, until the Trading
Day following the applicable VWAP Purchase Share Delivery Date.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 3.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Settlement</U></FONT></B>. The Shares constituting the applicable VWAP Purchase Share Amount
purchased by the Investor in each VWAP Purchase shall be validly issued to the Investor as DWAC Shares not later than 1:00 p.m., New York
City time, on the Trading Day immediately following the applicable VWAP Purchase Date for such VWAP Purchase (each a &ldquo;<B><I>VWAP
Purchase Share Delivery Date</I></B>&rdquo;) (it being acknowledged and agreed that the Company may not deliver any additional VWAP Purchase
Notice to the Investor until all such Shares subject to such VWAP Purchase, and all Shares subject to all prior VWAP Purchase Notices,
have been received by the Investor as DWAC Shares in accordance with this Agreement, unless expressly waived by the Investor). For each
VWAP Purchase, the Investor shall pay to the Company an amount in cash equal to the product of (a) the total number of Shares purchased
by the Investor in such VWAP Purchase and (b) the applicable VWAP Purchase Price for such Shares (the &ldquo;<B><I>VWAP Purchase Amount</I></B>&rdquo;),
as full payment for such Shares purchased by the Investor in such VWAP Purchase, via wire transfer of immediately available funds, not
later than 5:00 p.m., New York City time, on the Trading Day immediately following the applicable VWAP Purchase Share Delivery Date for
such VWAP Purchase, provided the Investor shall have timely received, as DWAC Shares, all of such Shares purchased by the Investor in
such VWAP Purchase on such VWAP Purchase Share Delivery Date in accordance with the first sentence of this Section 3.2, or, if any of
such Shares are received by the Investor after 1:00 p.m., New York City time, then the Company&rsquo;s receipt of such funds in its designated
account may occur on the Trading Day next following the Trading Day on which the Investor shall have received all of such Shares as DWAC
Shares, but not later than 5:00 p.m., New York City time, on such next Trading Day. If the Investor fails to pay the VWAP Purchase Amount
when due, the Investor will return the DWAC Shares to the Company. If the Company or the Transfer Agent shall fail for any reason, other
than a failure of the Investor or its Broker-Dealer (as defined below) to set up a DWAC and required instructions, to issue to the Investor,
as DWAC Shares, any Shares purchased by the Investor in a VWAP Purchase prior to 11:00 a.m., New York City time, on the Trading Day immediately
following the applicable VWAP Purchase Share Delivery Date for such VWAP Purchase, and if on or after such Trading Day the Investor purchases
(in an open market transaction or otherwise) Shares to deliver in satisfaction of a sale by the Investor of such Shares that the Investor
anticipated receiving from the Company on such VWAP Purchase Share Delivery Date in respect of such VWAP Purchase, then the Company shall,
within two (2) Trading Days after the Investor&rsquo;s request, either (i) pay cash to the Investor in an amount equal to the Investor&rsquo;s
total purchase price (including brokerage commissions, if any) for the Shares so purchased (the &ldquo;<B><I>Cover Price</I></B>&rdquo;),
at which point the Company&rsquo;s obligation to deliver such Shares as DWAC Shares (and the Investor&rsquo;s obligation to purchase such
Shares from the Company) shall terminate, or (ii) promptly honor its obligation to deliver to the Investor such Shares as DWAC Shares
and pay cash to the Investor in an amount equal to the excess (if any) of the Cover Price over the total purchase price paid by the Investor
pursuant to this Agreement for all of the Shares purchased by the Investor in such VWAP Purchase; <U>provided</U>, <U>however</U>, that
the Investor agrees to use its commercially reasonable efforts to purchase Shares in respect of the Cover Price only in normal brokerage
transactions at the prevailing price per Share then available. The Company shall not issue any fraction of a Share to the Investor in
connection with any VWAP Purchase effected pursuant to this Agreement. If the issuance would result in the issuance of a fraction of a
Share, the Company shall round such fraction of a Share up or down to the nearest whole Share. All payments to be made by the Investor
pursuant to this Agreement shall be made by wire transfer of immediately available funds to such account as the Company may from time
to time designate by written notice to the Investor in accordance with the provisions of this Agreement.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 3.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Compliance with Rules of Principal Market</U></FONT></B>. The Company shall not issue or
sell any Shares pursuant to this Agreement if such issuance or sale would reasonably be expected to result in (A) a violation of the Securities
Act or (B) a breach of the rules of the Principal Market. The provisions of this Section 3.3 shall not be implemented in a manner otherwise
than in strict conformity with the terms of this Section 3.3 unless necessary to ensure compliance with the Securities Act and the applicable
rules of the Principal Market.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 3.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Beneficial Ownership Limitation</U></FONT></B>. Notwithstanding anything to the contrary
contained in this Agreement, the Company shall not issue or sell, and the Investor shall not purchase or acquire, any Shares under this
Agreement which, when aggregated with all other Shares then beneficially owned by the Investor and its Affiliates (as calculated pursuant
to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder), would result in the beneficial ownership by the Investor
and its Affiliates (on an aggregated basis) of more than 4.99% of the outstanding Shares (the &ldquo;<B><I>Beneficial Ownership Limitation</I></B>&rdquo;).
Upon the written request of the Investor, the Company shall promptly (but not later than the next business day on which the Transfer Agent
is open for business) confirm orally or in writing to the Investor the number of Shares then outstanding. The Investor and the Company
shall each cooperate in good faith in the determinations required under this Section 3.4 and the application of this Section 3.4. The
Investor&rsquo;s written certification to the Company of the applicability of the Beneficial Ownership Limitation, and the resulting effect
thereof hereunder at any time, shall be conclusive with respect to the applicability thereof and such result absent manifest error. The
provisions of this Section 3.4 shall not be construed and implemented in a manner otherwise than in strict conformity with the terms of
this Section 3.4 unless necessary to properly give effect to the limitations contained in this Section 3.4.</P>

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
IV<U><BR>
REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE INVESTOR</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Investor hereby makes the following representations,
warranties and covenants to the Company:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 4.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Organization and Standing of the Investor</U></FONT></B>. The Investor is a corporation duly
formed, validly existing and in good standing under the laws of the State of New York.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 4.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Authorization and Power</U></FONT></B>. The Investor has the requisite corporate power and
authority to enter into and perform its obligations under this Agreement and the Registration Rights Agreement and to purchase or acquire
the Shares in accordance with the terms hereof. The execution, delivery and performance by the Investor of this Agreement and the Registration
Rights Agreement and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary
action, and no further consent or authorization of the Investor or its sole member is required. Each of this Agreement and the Registration
Rights Agreement has been duly executed and delivered by the Investor and constitutes a valid and binding obligation of the Investor enforceable
against it in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium, liquidation, conservatorship, receivership, or similar laws relating to, or affecting generally the enforcement of, creditor&rsquo;s
rights and remedies or by other equitable principles of general application (including any limitation of equitable remedies).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 4.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>No Conflicts</U></FONT></B>. The execution, delivery and performance by the Investor of this
Agreement and the Registration Rights Agreement and the consummation by the Investor of the transactions contemplated hereby and thereby
do not and shall not (i) result in a violation of such Investor&rsquo;s certificate of formation, limited liability company agreement
or other applicable organizational instruments, (ii) conflict with, constitute a default (or an event which, with notice or lapse of time
or both, would become a default) under, or give rise to any rights of termination, amendment, acceleration or cancellation of, any material
agreement, mortgage, deed of trust, indenture, note, bond, license, lease agreement, instrument or obligation to which the Investor is
a party or is bound, or (iii) result in a violation of any federal, state, local or foreign statute, rule, or regulation, or any order,
judgment or decree of any court or governmental agency applicable to the Investor or by which any of its properties or assets are bound
or affected, except, in the case of clauses (ii) and (iii), for such conflicts, defaults, terminations, amendments, acceleration, cancellations
and violations as would not, individually or in the aggregate, prohibit or otherwise interfere with, in any material respect, the ability
of the Investor to enter into and perform its obligations under this Agreement and the Registration Rights Agreement. The Investor is
not required under any applicable federal, state or local law, rule or regulation to obtain any consent, authorization or order of, or
make any filing or registration with, any court or governmental agency in order for it to execute, deliver or perform any of its obligations
under this Agreement and the Registration Rights Agreement or to purchase or acquire the Shares in accordance with the terms hereof, other
than as may be required by FINRA; <U>provided</U>, <U>however</U>, that for purposes of the representation made in this sentence, the
Investor is assuming and relying upon the accuracy of the relevant representations and warranties and the compliance with the relevant
covenants and agreements of the Company in the Transaction Documents to which it is a party.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 4.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Investment Purpose</U></FONT></B>. The Investor is acquiring the Shares for its own account,
for investment purposes and not with a view towards, or for resale in connection with, the public sale or distribution thereof, in violation
of the Securities Act or any applicable state securities laws; <U>provided</U>, <U>however</U>, that by making the representations herein,
the Investor does not agree, or make any representation or warranty, to hold any of the Shares for any minimum or other specific term
and reserves the right to dispose of the Shares at any time in accordance with, or pursuant to, a registration statement filed pursuant
to the Registration Rights Agreement or an applicable exemption under the Securities Act. The Investor does not presently have any agreement
or understanding, directly or indirectly, with any Person to sell or distribute any of the Shares. The Investor is acquiring the Shares
hereunder in the ordinary course of its business.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 4.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Accredited Investor Status</U></FONT></B>. The Investor is an &ldquo;accredited investor&rdquo;
as that term is defined in Rule 501(a) of Regulation D promulgated by the Commission under the Securities Act (&ldquo;<B><I>Regulation
D</I></B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 4.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Reliance on Exemptions</U></FONT></B>. The Investor understands that the Shares are being
offered and sold to it in reliance on specific exemptions from the registration requirements of U.S. federal and state securities laws
and that the Company is relying in part upon the truth and accuracy of, and the Investor&rsquo;s compliance with, the representations,
warranties, agreements, acknowledgments and understandings of the Investor set forth herein in order to determine the availability of
such exemptions and the eligibility of the Investor to acquire the Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 4.7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Information</U></FONT></B>. All materials relating to the business, financial condition,
management and operations of the Company and materials relating to the offer and sale of the Shares which have been requested by the Investor
have been furnished or otherwise made available to the Investor or its advisors, including, without limitation, the Commission Documents.
The Investor understands that its investment in the Shares involves a high degree of risk. The Investor is able to bear the economic risk
of an investment in the Shares, including a total loss thereof, and has such knowledge and experience in financial and business matters
that it is capable of evaluating the merits and risks of a proposed investment in the Shares. The Investor and its advisors have been
afforded the opportunity to ask questions of and receive answers from representatives of the Company concerning the financial condition
and business of the Company and other matters relating to an investment in the Shares. Neither such inquiries nor any other due diligence
investigations conducted by the Investor or its advisors, if any, or its representatives shall modify, amend or affect the Investor&rsquo;s
right to rely on the Company&rsquo;s representations and warranties contained in this Agreement or in any other Transaction Document to
which the Company is a party or the Investor&rsquo;s right to rely on any other document or instrument executed and/or delivered in connection
with this Agreement or the consummation of the transaction contemplated hereby (including, without limitation the opinions of the Company&rsquo;s
counsel and Investor&rsquo;s counsel delivered pursuant to this Agreement and the Registration Rights Agreement). The Investor has sought
such accounting, legal and tax advice as it has considered necessary to make an informed investment decision with respect to its acquisition
of the Shares. The Investor understands that it (and not the Company) shall be responsible for its own tax liabilities that may arise
as a result of this investment or the transactions contemplated by this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 4.8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>No Governmental Review</U></FONT></B>. The Investor understands that no United States federal
or state agency or any other government or governmental agency has passed on or made any recommendation or endorsement of the Shares or
the fairness or suitability of the investment in the Shares nor have such authorities passed upon or endorsed the merits of the offering
of the Shares.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 4.9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>No General Solicitation</U></FONT></B>. The Investor is not purchasing or acquiring the Shares
as a result of any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with the offer
or sale of the Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 4.10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Not an Affiliate</U></FONT></B>. The Investor is not an officer, director or an Affiliate
of the Company. During the Investment Period, the Investor will not acquire for its own account any Shares or securities exercisable for
or convertible into Shares, other than pursuant to this Agreement; <U>provided</U>, <U>however</U>, that nothing in this Agreement shall
prohibit or be deemed to prohibit the Investor from purchasing, in an open market transaction or otherwise, the Shares necessary to make
delivery by the Investor in satisfaction of a sale by the Investor of Shares that the Investor anticipated receiving from the Company
in connection with the settlement of a VWAP Purchase if the Company or its Transfer Agent shall have failed for any reason (other than
a failure of Investor or its Broker-Dealer to set up a DWAC and required instructions) to electronically transfer all of the Shares subject
to such VWAP Purchase to the Investor on the applicable VWAP Purchase Share Delivery Date by crediting the Investor&rsquo;s or its designated
Broker-Dealer&rsquo;s account at DTC through its DWAC delivery system in compliance with Section 3.2 of this Agreement. For the avoidance
of doubt, the foregoing restriction does not apply to any Affiliate of the Investor, provided that any such purchases do not cause the
Investor to violate any applicable Exchange Act requirement, including Regulation M.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 4.11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>No Prior Short Sales</U></FONT></B>. At no time prior to the date of this Agreement has the
Investor or any entity managed or controlled by the Investor engaged in or effected, in any manner whatsoever, directly or indirectly,
for its own principal account, any (i) &ldquo;short sale&rdquo; (as such term is defined in Rule 200 of Regulation SHO of the Exchange
Act) of the Shares or (ii) hedging transaction, in either case, which establishes a net short position with respect to the Shares that
remains in effect as of the date of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 4.12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Statutory Underwriter Status</U></FONT></B>. The Investor acknowledges that it will be disclosed
as an &ldquo;underwriter&rdquo; and a &ldquo;selling shareholder&rdquo; in each Registration Statement and in any Prospectus contained
therein to the extent required by applicable law and to the extent the Prospectus is related to the resale of Registrable Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 4.13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Resales of Shares</U></FONT></B>. The Investor represents, warrants and covenants that it
will resell such Shares only i) pursuant to the Registration Statement in which the resale of such Shares is registered under the Securities
Act, in a manner described under the caption &ldquo;Plan of Distribution (Conflict of Interest)&rdquo; in such Registration Statement,
and in a manner in compliance with all applicable U.S. federal and state securities laws, rules and regulations, including, without limitation,
any applicable prospectus delivery requirements of the Securities Act, or ii) in reliance on specific exemptions from the registration
requirements of U.S. federal and state securities laws, as applicable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 4.14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Residency</U></FONT></B>. The Investor is a resident of the State of New York.</P>

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

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
V<U><BR>
REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company hereby makes the following representations,
warranties and covenants to the Investor:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Organization, Good Standing and Power</U></FONT></B>. The Company and each of its Subsidiaries
are duly incorporated or organized (as applicable), validly existing and in good standing under the laws of their respective jurisdictions
of incorporation or organization (as applicable). The Company and each of its Subsidiaries are duly licensed or qualified as a foreign
corporation (or other entity, if applicable) for transaction of business and in good standing under the laws of each other jurisdiction
in which their respective ownership or lease of property or the conduct of their respective businesses requires such license or qualification,
and have all entity power and authority necessary to own or hold their respective properties and to conduct their respective businesses
as described in the Commission Documents, except where the failure to be so qualified or in good standing or have such power or authority
would not, individually or in the aggregate, have a material adverse effect or would reasonably be expected to have a material adverse
effect on or affecting the assets, business, operations, earnings, properties, condition (financial or otherwise), prospects, shareholders&rsquo;
equity or results of operations of the Company and the Subsidiaries taken as a whole, or prevent or materially interfere with consummation
of the transactions contemplated hereby (a &ldquo;<B><I>Material Adverse Effect</I></B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Subsidiaries</U></FONT></B>. The subsidiaries set forth in Exhibit 8.1 of the Company&rsquo;s
Annual Report on Form 20-F filed with the Commission on April 29, 2022 (collectively, the &ldquo;<B><I>Subsidiaries</I></B>&rdquo;) are
the Company&rsquo;s only significant subsidiaries (as such term is defined in Rule 1-02 of Regulation S-X promulgated by the Commission).
Except as set forth in the Commission Documents, the Company owns, directly or indirectly, all of the equity interests of the Subsidiaries
free and clear of any lien, charge, security interest, encumbrance, right of first refusal or other restriction, and all the equity interests
of the Subsidiaries are validly issued and are fully paid, non-assessable and free of preemptive and similar rights.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Authorization, Enforcement</U></FONT></B>. The Company has the requisite corporate power
and authority to enter into and perform its obligations under each of the Transaction Documents to which it is a party and to issue the
Shares in accordance with the terms hereof and thereof. Except for approvals of the Company&rsquo;s Board of Directors or a committee
thereof as may be required in connection with any issuance and sale of Shares to the Investor hereunder (which approvals shall be obtained
prior to the delivery of any VWAP Purchase Notice), the execution, delivery and performance by the Company of each of the Transaction
Documents to which it is a party and the consummation by it of the transactions contemplated hereby and thereby have been duly and validly
authorized by all necessary corporate action, and no further consent or authorization of the Company, its Board of Directors or its shareholders
is required. Each of the Transaction Documents to which the Company is a party has been duly executed and delivered by the Company and
constitutes a valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such
enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation, conservatorship, receivership
or similar laws relating to, or affecting generally the enforcement of, creditor&rsquo;s rights and remedies or by other equitable principles
of general application (including any limitation of equitable remedies).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Capitalization</U></FONT></B>. The authorized share capital of the Company and the shares
thereof issued and outstanding were as set forth in the Commission Documents as of the dates reflected therein. All of the issued and
outstanding Shares have been duly authorized and validly issued and are fully paid and non-assessable. Except as set forth in the Commission
Documents, this Agreement and the Registration Rights Agreement, there are no agreements or arrangements under which the Company is obligated
to register the sale of any securities under the Securities Act. Except as set forth in the Commission Documents, no Shares are entitled
to preemptive rights and there are no outstanding debt securities and no contracts, commitments, understandings, or arrangements by which
the Company is or may become bound to issue additional shares of the Company or options, warrants, scrip, rights to subscribe to, calls
or commitments of any character whatsoever relating to, or securities or rights convertible into or exchangeable for, any shares of the
Company other than those issued or granted in the ordinary course of business pursuant to the Company&rsquo;s equity incentive and/or
compensatory plans or arrangements. Except for customary transfer restrictions contained in agreements entered into by the Company to
sell restricted securities or as set forth in the Commission Documents, the Company is not a party to, and it has no Knowledge of, any
agreement restricting the voting or transfer of any shares of the Company. Except as set forth in the Commission Documents, there are
no securities or instruments containing anti-dilution or similar provisions that will be triggered by this Agreement or any of the other
Transaction Documents or the consummation of the transactions described herein or therein. The Company has filed with the Commission a
true and correct copy of the Company&rsquo;s Amended and Restated Memorandum and Articles of Association as in effect on the Closing Date
(the &ldquo;<B><I>Articles</I></B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Issuance of Shares</U></FONT></B>. The Shares to be issued under this Agreement have been,
or with respect to Shares to be purchased by the Investor pursuant to a particular VWAP Purchase Notice, will be, prior to the delivery
to the Investor hereunder of such VWAP Purchase Notice, duly and validly authorized by all necessary corporate action on the part of the
Company. The Shares, if and when issued and sold against payment therefor in accordance with this Agreement, shall be validly issued and
outstanding, fully paid and non-assessable and free from all liens, charges, taxes, security interests, encumbrances, rights of first
refusal, preemptive or similar rights and other encumbrances with respect to the issue thereof, and the Investor shall be entitled to
all rights accorded to a holder of Shares. At or prior to Commencement, the Company shall have duly authorized and reserved a number of
Shares equal to the Aggregate Limit for issuance and sale as Shares to the Investor pursuant to VWAP Purchases that may be effected by
the Company, in its sole discretion, from time to time from and after the Commencement Date, pursuant to this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>No Conflicts</U></FONT></B>. The execution, delivery and performance by the Company of each
of the Transaction Documents to which it is a party and the consummation by the Company of the transactions contemplated hereby and thereby
do not and shall not (i) result in a violation of any provision of the Company&rsquo;s Articles, (ii) conflict with or constitute a material
default (or an event which, with notice or lapse of time or both, would become a material default) under, or give rise to any rights of
termination, amendment, acceleration or cancellation of, any material agreement, mortgage, deed of trust, indenture, note, bond, license,
lease agreement, instrument or obligation to which the Company or any of its Subsidiaries is a party or is bound, (iii) result in a violation
of any federal, state, local or foreign statute, rule, regulation, order, judgment or decree applicable to the Company or any of its Subsidiaries
(including federal and state securities laws and regulations and the rules and regulations of the Principal Market), except, in the case
of clauses (ii) and (iii), for such conflicts, defaults, terminations, amendments, acceleration, cancellations, liens, charges, encumbrances
and violations as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect or that have
been waived. Except as specifically contemplated by this Agreement or the Registration Rights Agreement and as required under the Securities
Act, any applicable state securities laws and applicable rules of the Principal Market, the Company is not required under any federal,
state or local rule or regulation to obtain any consent, authorization or order of, or make any filing or registration with, any court
or governmental agency in order for it to execute, deliver or perform any of its obligations under the Transaction Documents to which
it is a party, or to issue the Shares to the Investor in accordance with the terms hereof and thereof (other than such consents, authorizations,
orders, filings or registrations as have been obtained or made prior to the Closing Date); <U>provided</U>, <U>however</U>, that, for
purposes of the representation made in this sentence, the Company is assuming and relying upon the accuracy of the representations and
warranties of the Investor in this Agreement and the compliance by it with its covenants and agreements contained in this Agreement and
the Registration Rights Agreement.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Commission Documents, Financial Statements; Disclosure Controls and Procedures; Internal
Controls Over Financial Reporting; Accountants</U></FONT></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Since December 16, 2021, the Company has timely filed (giving effect to permissible extensions in accordance with Rule 12b-25 under
the Exchange Act) all filings required to be filed with or furnished to the Commission by the Company under the Securities Act or the
Exchange Act, including those required to be filed with or furnished to the Commission under Section 13(a) or Section 15(d) of the Exchange
Act. As of the date of this Agreement, no Subsidiary of the Company is required to file or furnish any report, schedule, registration,
form, statement, information or other document with the Commission. As of its filing date (or, if amended or superseded by a filing prior
to the Closing Date, on the date of such amended or superseded filing), each Commission Document filed with or furnished to the Commission
prior to the Closing Date complied in all material respects with the requirements of the Securities Act or the Exchange Act, as applicable.
Each Registration Statement, on the date it is filed with the Commission, on the date it becomes effective and on each VWAP Purchase Date
shall comply in all material respects with the requirements of the Securities Act (including, without limitation, Rule 415 under the Securities
Act) and shall not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary
in order to make the statements therein not misleading, except that this representation and warranty shall not apply to statements in
or omissions from such Registration Statement made in reliance upon and in conformity with information relating to the Investor furnished
to the Company in writing by or on behalf of the Investor expressly for use therein. The Prospectus and each Prospectus Supplement required
to be filed pursuant to this Agreement or the Registration Rights Agreement after the Closing Date, when taken together, on its date and
on each VWAP Purchase Date shall comply in all material respects with the requirements of the Securities Act (including, without limitation,
Rule 424(b) under the Securities Act) and shall not contain any untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made,
not misleading, except that this representation and warranty shall not apply to statements in or omissions from the Prospectus or any
Prospectus Supplement made in reliance upon and in conformity with information relating to the Investor furnished to the Company in writing
by or on behalf of the Investor expressly for use therein. The statistical, demographic and market-related data included in the Registration
Statement and Prospectus are based on or derived from sources that the Company believes to be reliable and accurate or represent the Company&rsquo;s
good faith estimates that are made on the basis of data derived from such sources. Each Commission Document (other than the Initial Registration
Statement or any New Registration Statement, or the Prospectus included therein or any Prospectus Supplement thereto) to be filed with
or furnished to the Commission after the Closing Date and incorporated by reference in the Initial Registration Statement or any New Registration
Statement, or the Prospectus included therein or any Prospectus Supplement thereto required to be filed pursuant to this Agreement or
the Registration Rights Agreement (including, without limitation, the Current Report), when such document is filed with or furnished to
the Commission and, if applicable, when such document becomes effective, as the case may be, shall comply in all material respects with
the requirements of the Securities Act or the Exchange Act, as applicable. There are no comments provided to the Company by the Commission&rsquo;s
staff relating to any of the Commission Documents filed with or furnished to the Commission as of the applicable date or time this representation
is being made under Article VII hereof that remain outstanding or unresolved. The Commission has not issued any stop order or other order
suspending the effectiveness of any registration statement filed by the Company under the Securities Act or the Exchange Act.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The consolidated financial statements of the Company included or incorporated by reference in the Commission Documents, together
with the related notes and schedules, present fairly, in all material respects, the consolidated financial position of the Company and
its then consolidated subsidiaries as of the dates indicated, and the consolidated results of operations, cash flows and changes in shareholders&rsquo;
equity of the Company and its then consolidated subsidiaries for the periods specified and have been prepared in all material respects
in compliance with the published requirements of the Securities Act and the Exchange Act, as applicable, and in conformity with International
Financial Reporting Standards as issued by the International Accounting Standards Board (&ldquo;<B><I>IFRS</I></B>&rdquo;) applied on
a consistent basis. There are no financial statements (historical or pro forma) that are required to be included or incorporated by reference
in the Commission Documents that are not included or incorporated by reference as required. The Company and the Subsidiaries do not have
any material liabilities or obligations, direct or contingent (including any off-balance sheet obligations or any &ldquo;variable interest
entities&rdquo; as that term is used in Accounting Standards Codification Paragraph 810-10-25-20), not described in Commission Documents
which are required to be described in the Commission Documents. All disclosures contained or incorporated by reference in the Commission
Documents, if any, regarding &ldquo;non-IFRS financial measures&rdquo; (as such term is defined by the rules and regulations of the Commission)
comply in all material respects with Regulation G under the Exchange Act and Item 10 of Regulation S-K under the Securities Act, to the
extent applicable. The interactive data in eXtensible Business Reporting Language included in the Commission Documents fairly presents
the information called for in all material respects and has been prepared in accordance with the Commission&rsquo;s rules and guidelines
applicable thereto.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>PricewaterhouseCoopers LLP, whose report on the consolidated financial statements of the Company as of December 31, 2020 and 2021,
and the related consolidated statements of comprehensive income, of changes in equity and of cash flows for each of the three years in
the period ended December 31, 2021 included in the Company&rsquo;s registration statement on Form F-1 (File No. 333-262207), are and,
during the periods covered by their report, were an independent public accounting firm within the meaning of the Securities Act and the
Public Company Accounting Oversight Board (United States). To the Company&rsquo;s knowledge, PricewaterhouseCoopers LLP is not in violation
of the auditor independence requirements of the Sarbanes-Oxley Act of 2002 (the &ldquo;<B><I>Sarbanes-Oxley Act</I></B>&rdquo;) with respect
to the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except as disclosed in the Commission Documents, there is and has been no failure on the part of the Company or any of the Company&rsquo;s
directors or officers, in their capacities as such, to comply in all material respects with any applicable provisions of the Sarbanes-Oxley
Act and the rules and regulations promulgated thereunder. Each of the principal executive officer and the principal financial officer
of the Company (or each former principal executive officer of the Company and each former principal financial officer of the Company as
applicable) has made all certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act with respect to all reports, schedules,
forms, statements and other documents required to be filed by it or furnished by it to the Commission. For purposes of the preceding sentence,
 &ldquo;principal executive officer&rdquo; and &ldquo;principal financial officer&rdquo; shall have the meanings given to such terms in
the Sarbanes-Oxley Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>No Material Adverse Effect; Absence of Certain Changes</U></FONT></B>. Subsequent to the
respective dates as of which information is given in the Commission Documents (including any document deemed incorporated by reference
therein), there has not been (i) any Material Adverse Effect or the occurrence of any development that the Company reasonably expects
will result in a Material Adverse Effect, (ii) any transaction which is material to the Company and the Subsidiaries taken as a whole,
(iii) any obligation or liability, direct or contingent (including any off-balance sheet obligations), incurred by the Company or any
Subsidiary, which is material to the Company and the Subsidiaries taken as a whole, (iv) any material change in the shares (other than
(A) the grant of additional awards under the Company&rsquo;s existing equity incentive plans, (B) changes in the number of outstanding
shares of the Company due to the issuance of shares upon the exercise or conversion of securities exercisable for, or convertible into,
shares outstanding on the date hereof, (C) as described in a proxy statement filed on Schedule 14A or a Registration Statement on Form
F-4, or (D) otherwise publicly announced on a Form 6-K or Company press release) or outstanding long-term indebtedness of the Company
or any of its Subsidiaries or (v) any dividend or distribution of any kind declared, paid or made on the shares of the Company or any
Subsidiary, other than in each case above in the ordinary course of business or as otherwise disclosed in the Commission Documents (including
any document deemed incorporated by reference therein).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>No Material Defaults</U></FONT></B>. Neither the Company nor any of its Subsidiaries has
defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually
or in the aggregate, would have a Material Adverse Effect. The Company has not filed a report pursuant to Section 13(a) or 15(d) of the
Exchange Act indicating that it (i) has failed to pay any dividend or sinking fund installment on preferred shares (if any) or (ii) has
defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually
or in the aggregate, would have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries is (i) in violation of its
charter, by-laws or similar organizational documents; (ii) in default, and no event has occurred that, with notice or lapse of time or
both, would constitute such a default, in the due performance or observance of any term, covenant or condition contained in any indenture,
mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its Subsidiaries is a party or
by which the Company or any of its Subsidiaries is bound or to which any of the property or assets of the Company or any of its Subsidiaries
are subject; or (iii) in violation of any law or statute or any judgment, order, rule or regulation of any Governmental Authority, except,
in the case of each of clauses (ii) and (iii) above, for any such violation or default that would not, individually or in the aggregate,
have a Material Adverse Effect.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>No Preferential Rights</U></FONT></B>. Except as set forth in the Commission Documents or
provided hereunder, (i) no Person has the right, contractual or otherwise, to cause the Company to issue or sell to such Person any Shares
or any other shares or other securities of the Company, (ii) no Person has any preemptive rights, resale rights, rights of first refusal,
rights of co-sale, or any other rights (whether pursuant to a &ldquo;poison pill&rdquo; provision or otherwise) to purchase any Shares
or any other shares or other securities of the Company, (iii) no Person has the right to act as an underwriter or as a financial advisor
to the Company in connection with the offer and sale of the Shares offered hereunder, and (iv) no Person has the right, contractual or
otherwise, to require the Company to register under the Securities Act any Shares or any other shares or other securities of the Company,
or to include any such Shares or other securities in the Registration Statement or the offering contemplated thereby, whether as a result
of the filing or effectiveness of the Registration Statement or the sale of the Shares as contemplated thereby or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Material Contracts</U></FONT></B>. Neither the Company nor any of its Subsidiaries is in
material breach of or default in any respect under the terms of any Material Contract and, to the Knowledge of the Company, as of the
date hereof, no other party to any Material Contract is in material breach of or default under the terms of any Material Contract. Each
agreement between the Company and a third party is in full force and effect and is a valid and binding obligation of the Company or the
Subsidiary of the Company that is party thereto and, to the Knowledge of the Company, is a valid and binding obligation of each other
party thereto. The Company has not received any written notice of the intention of any other party to a Material Contract to terminate
for default, convenience or otherwise, or not renew, any Material Contract.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Solvency</U></FONT></B>. The Company has not taken any steps, and does not currently expect
to take any steps, to seek protection pursuant to Title 11 of the United States Code or any similar federal or state bankruptcy law or
law for the relief of debtors, nor does the Company have any Knowledge that its creditors intend to initiate involuntary bankruptcy, insolvency,
reorganization or liquidation proceedings or other proceedings for relief under Title 11 of the United States Code or any other federal
or state bankruptcy law or any law for the relief of debtors. The Company is financially solvent and is generally able to pay its debts
as they become due.</P>

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

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: none"><B>Section
5.13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><U>Real Property;
Intellectual Property</U><FONT STYLE="font-weight: normal; text-transform: none">.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except as set forth in the Commission Documents, the Company and its Subsidiaries have good and marketable title in fee simple
to all items of real property owned by them, good and valid title to all personal property described in the Commission Documents as being
owned by them that are material to their businesses, in each case free and clear of all liens, encumbrances and claims, except those matters
that (i) do not materially interfere with the use made and proposed to be made of such property by the Company and any of its Subsidiaries
or (ii) would not, individually or in the aggregate, have a Material Adverse Effect. Any real or personal property described in the Commission
Documents as being leased by the Company and any of its Subsidiaries is held by them under valid, existing and enforceable leases, except
those that (A) do not materially interfere with the use made or proposed to be made of such property by the Company or any of its Subsidiaries
or (B) would not be reasonably expected, individually or in the aggregate, to have a Material Adverse Effect. Each of the properties of
the Company and its Subsidiaries complies with all applicable codes, laws and regulations (including, without limitation, building and
zoning codes, laws and regulations and laws relating to access to such properties), except if and to the extent disclosed in the Commission
Documents or except for such failures to comply that would not, individually or in the aggregate, reasonably be expected to interfere
in any material respect with the use made and proposed to be made of such property by the Company and its Subsidiaries or otherwise have
a Material Adverse Effect. None of the Company or its Subsidiaries has received from any Governmental Authorities any notice of any condemnation
of, or zoning change affecting, the properties of the Company and its Subsidiaries, and the Company knows of no such condemnation or zoning
change which is threatened, except for such that would not reasonably be expected to interfere in any material respect with the use made
and proposed to be made of such property by the Company and its Subsidiaries or otherwise have a Material Adverse Effect, individually
or in the aggregate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except as disclosed in the Commission Documents, the Company and its Subsidiaries own, possess, license or have other rights to
use all foreign and domestic patents, patent applications, trade and service marks, trade and service mark registrations, trade names,
copyrights, licenses, inventions, trade secrets, technology, Internet domain names, know-how and other intellectual property (collectively,
the &ldquo;<B><I>Intellectual Property</I></B>&rdquo;), necessary for the conduct of their respective businesses as now conducted except
to the extent that the failure to own, possess, license or otherwise hold adequate rights to use such Intellectual Property would not,
individually or in the aggregate, have a Material Adverse Effect. Except as disclosed in the Commission Documents (i) there are no rights
of third parties to any such Intellectual Property owned by the Company and its Subsidiaries; (ii) to the Company&rsquo;s Knowledge, there
is no infringement by third parties of any such Intellectual Property; (iii) there is no pending or, to the Company&rsquo;s Knowledge,
threatened action, suit, proceeding or claim by others challenging the Company&rsquo;s and its Subsidiaries&rsquo; rights in or to any
such Intellectual Property, and the Company is unaware of any facts which could form a reasonable basis for any such action, suit, proceeding
or claim; (iv) there is no pending or, to the Company&rsquo;s Knowledge, threatened action, suit, proceeding or claim by others challenging
the validity or scope of any such Intellectual Property; (v) there is no pending or, to the Company&rsquo;s Knowledge, threatened action,
suit, proceeding or claim by others that the Company and its Subsidiaries infringe or otherwise violate any patent, trademark, copyright,
trade secret or other proprietary rights of others; (vi) to the Company&rsquo;s Knowledge, there is no third-party U.S. patent or published
U.S. patent application which contains claims for which an Interference Proceeding (as defined in 35 U.S.C. &sect; 135) has been commenced
against any patent or patent application described in the Commission Documents as being owned by or licensed to the Company; and (vii)
the Company and its Subsidiaries have complied with the terms of each agreement pursuant to which Intellectual Property has been licensed
to the Company or such Subsidiary, and all such agreements are in full force and effect, except, in the case of any of clauses (i)-(vii)
above, for any such rights infringement by third parties or any such pending or threatened suit, action, proceeding or claim as would
not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. The Company and its Subsidiaries
have taken commercially reasonable efforts to maintain the confidentiality of all material trade secrets and other material confidential
information of the Company and its Subsidiaries and any confidential information owned by any Person to whom the Company or any of its
Subsidiaries has a written confidentiality obligation.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Actions Pending</U></FONT></B>. Except as disclosed in the Commission Documents, there are
no actions, suits or proceedings by or before any Governmental Authority pending, nor, to the Company&rsquo;s Knowledge, any audits or
investigations by or before any Governmental Authority to which the Company or a Subsidiary is a party or to which any property of the
Company or any of its Subsidiaries is the subject that, individually or in the aggregate, would reasonably be expected to have a Material
Adverse Effect and, to the Company&rsquo;s Knowledge, no such actions, suits, proceedings, audits or investigations are threatened or
contemplated by any Governmental Authority or threatened by others; and (i) there are no current or pending audits or investigations,
actions, suits or proceedings by or before any Governmental Authority that are required under the Securities Act to be described in the
Commission Documents that are not so described; and (ii) there are no material contracts or other documents that are required under the
Securities Act to be filed as exhibits to the Commission Documents that are not so filed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.15.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Compliance with Law</U></FONT></B>. The Company and each of its Subsidiaries are in compliance
with all applicable laws, regulations and statutes (including all Environmental Laws) in the jurisdictions in which it carries on business,
except where failure to be so in compliance would not reasonably be expected to result in a Material Adverse Effect; the Company has not
received a notice of non-compliance, nor knows of, nor has reasonable grounds to know of, any facts that could give rise to a notice of
non-compliance with any such laws, regulations and statutes, and is not aware of any pending change or contemplated change to any applicable
law or regulation or governmental position; in each case that would not reasonably be expected, individually or in the aggregate, to have
a Material Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.16.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Certain Fees</U></FONT></B>. Except as disclosed to the Investors, neither the Company nor
any of its Subsidiaries has incurred any liability for any finder&rsquo;s fees, brokerage commissions or similar payments in connection
with the transactions herein contemplated.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.17.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Disclosure</U></FONT></B>. The Company confirms that each time that it issues a VWAP Purchase
Notice to the Investor, neither it nor any other Person acting on its behalf will have provided the Investor or any of its agents, advisors
or counsel with any information that constitutes or would reasonably be expected to constitute material non-public information concerning
the Company or any of its Subsidiaries, other than the existence of the transactions contemplated by the Transaction Documents and the
VWAP Purchase Notice. The Company understands and confirms that the Investor will rely on the foregoing representations in effecting resales
of Shares under the Registration Statement.</P>

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

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

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<P STYLE="margin: 0pt; font-size: 10pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.18.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Broker/Dealer Relationships</U></FONT></B>. Neither the Company nor any of the Subsidiaries
(i) is required to register as a &ldquo;broker&rdquo; or &ldquo;dealer&rdquo; in accordance with the provisions of the Exchange Act or
(ii) directly or indirectly through one or more intermediaries, controls or is a &ldquo;person associated with a member&rdquo; or &ldquo;associated
person of a member&rdquo; (within the meaning set forth in the FINRA Manual).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.19.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Disclosure Controls</U></FONT></B>. The Company maintains a system of internal accounting
controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management&rsquo;s general or
specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with
IFRS and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management&rsquo;s general or specific
authorization; and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate
action is taken with respect to any differences. Except as disclosed in the Commission Documents, the Company&rsquo;s internal control
over financial reporting is effective and the Company is not aware of any material weaknesses in its internal control over financial reporting.
Since the date of the latest audited financial statements of the Company included in the Commission Documents, there has been no change
in the Company&rsquo;s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect,
the Company&rsquo;s internal control over financial reporting (other than as set forth in the Commission Documents). The Company has established
disclosure controls and procedures (as defined in Exchange Act Rules 13a-15 and 15d-15) for the Company and designed such disclosure controls
and procedures to ensure that material information relating to the Company and each of its Subsidiaries is made known to the certifying
officers by others within those entities, particularly during the period in which the Company&rsquo;s Annual Report on Form 20-F is being
prepared. The Company&rsquo;s certifying officers have evaluated the effectiveness of the Company&rsquo;s disclosure controls and procedures
as of a date within 90 days prior to the filing date of the Form 20-F for the fiscal year most recently ended (such date, the &ldquo;<B><I>Evaluation
Date</I></B>&rdquo;) and, except as disclosed in the Commission Documents, the disclosure controls and procedures are effective. The Company
presented in its Annual Report on Form 20-F for the fiscal year most recently ended the conclusions of the certifying officers about the
effectiveness of the disclosure controls and procedures based on their evaluations as of the Evaluation Date. Since the Evaluation Date,
there have been no significant changes in the Company&rsquo;s internal controls (as such term is defined in Item 307(b) of Regulation
S-K under the Securities Act) or, to the Company&rsquo;s Knowledge, in other factors that could significantly affect the Company&rsquo;s
internal controls.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.20.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Permits</U></FONT></B>. Except as disclosed in the Commission Documents, the Company and
each Subsidiary possess such valid and current certificates, authorizations or permits issued by the appropriate state, federal or foreign
regulatory agencies or bodies necessary to conduct their respective businesses, and neither the Company nor any Subsidiary has received,
or has any reason to believe that it will receive, any notice of proceedings relating to the revocation or modification of, or non-compliance
with, any such certificate, authorization or permit which, if the subject of an unfavorable decision, ruling or finding, would, individually
or in the aggregate, have a Material Adverse Effect.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.21.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Environmental Compliance</U></FONT></B>. Except as set forth in the Commission Documents,
the Company and its Subsidiaries (i) are in compliance with any and all applicable federal, state, local and foreign laws, rules, regulations,
decisions and orders relating to the protection of human health and safety, the environment or hazardous or toxic substances or wastes,
pollutants or contaminants (collectively, &ldquo;<B><I>Environmental Laws</I></B>&rdquo;); (ii) have received and are in compliance with
all permits, licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses as
described in the Commission Documents; and (iii) have not received notice of any actual or potential liability for the investigation or
remediation of any disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants, except, in the case of
any of clauses (i), (ii) or (iii) above, for any such failure to comply or failure to receive required permits, licenses, other approvals
or liability as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.22.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>No Improper Practices</U></FONT></B>. (i) Neither the Company nor the Subsidiaries, nor any
director, officer, or employee of the Company or any Subsidiary nor, to the Company&rsquo;s Knowledge, any agent, Affiliate or other person
acting on behalf of the Company or any Subsidiary has, in the past five years, made any unlawful contributions to any candidate for any
political office (or failed fully to disclose any contribution in violation of applicable law) or made any contribution or other payment
to any official of, or candidate for, any federal, state, municipal, or foreign office or other person charged with similar public or
quasi-public duty in violation of any applicable law or of the character required to be disclosed in the Commission Documents; (ii) except
as described in the Commission Documents, there are no material outstanding loans or advances or material guarantees of indebtedness by
the Company or any Subsidiary to or for the benefit of any of their respective officers or directors or any of the members of the families
of any of them; and (iii) the Company has not offered, or caused any placement agent to offer, Shares to any person with the intent to
influence unlawfully (A) a customer or supplier of the Company or the Subsidiaries to alter the customer&rsquo;s or supplier&rsquo;s level
or type of business with the Company or any Subsidiary or (B) a trade journalist or publication to write or publish favorable information
about the Company or the Subsidiaries or any of their respective products or services, and, (iv) neither the Company nor the Subsidiaries
nor any director, officer or employee of the Company or any Subsidiary nor, to the Company&rsquo;s Knowledge, any agent, Affiliate or
other person acting on behalf of the Company or any Subsidiary has (A) violated or is in violation of any applicable provision of the
U.S. Foreign Corrupt Practices Act of 1977, as amended, or any other applicable anti-bribery or anti-corruption law (collectively, &ldquo;<B><I>Anti-Corruption
Laws</I></B>&rdquo;), (B) promised, offered, provided, attempted to provide or authorized the provision of anything of value, directly
or indirectly, to any person for the purpose of obtaining or retaining business, influencing any act or decision of the recipient, or
securing any improper advantage; or (C) made any payment of funds of the Company or any Subsidiary or received or retained any funds in
violation of any Anti-Corruption Laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.23.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>AML Compliance</U></FONT></B>. The operations of the Company and its Subsidiaries are and
have been conducted at all times in compliance with applicable financial record keeping and reporting requirements of the Currency and
Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions to which the Company or its
Subsidiaries are subject, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered
or enforced by any Governmental Authority (collectively, the &ldquo;<B><I>Money Laundering Laws</I></B>&rdquo;); and no action, suit or
proceeding by or before any Governmental Authority involving the Company or any of its Subsidiaries with respect to the Money Laundering
Laws is pending or, to the Knowledge of the Company, threatened.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.24.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Off-Balance Sheet Arrangements</U></FONT></B>. There are no transactions, arrangements or
other relationships between or among the Company, and/or any of its Affiliates and any unconsolidated entity, including, but not limited
to, any structural finance, special purpose or limited purpose entity (each, an &ldquo;<B><I>Off-Balance Sheet Transaction</I></B>&rdquo;)
that would reasonably be expected to affect materially the Company&rsquo;s liquidity or the availability of or requirements for its capital
resources, including those Off-Balance Sheet Transactions described in the Commission&rsquo;s Statement about Management&rsquo;s Discussion
and Analysis of Financial Conditions and Results of Operations (Release Nos. 33-8056; 34-45321; FR-61), required to be described in the
Commission Documents which have not been described as required.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.25.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Transactions With Affiliates</U></FONT></B>. No relationship, direct or indirect, exists
between or among the Company or any of its Subsidiaries on the one hand, and the directors, officers, trustees, managers, shareholders,
partners, customers or suppliers of the Company or any of the Subsidiaries on the other hand, which would be required by the Securities
Act or the Exchange Act to be disclosed in the Commission Documents, which is not so disclosed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.26.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Labor Disputes</U></FONT></B>. None of the Company nor any of its Subsidiaries is bound by
or subject to any collective bargaining or similar agreement with any labor union, and, to the Knowledge of the Company, none of the employees
of the Company or any of its Subsidiaries is represented by any labor union. The Company and its Subsidiaries have complied with all employment
laws applicable to employees of the Company and its Subsidiaries, except where non-compliance with any such employment laws would not
have a Material Adverse Effect. No labor disturbance by or dispute with employees of the Company or any of its Subsidiaries exists or,
to the knowledge of the Company, is threatened which would have a Material Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.27.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Use of Proceeds</U></FONT></B>. The proceeds from the sale of the Shares by the Company to
the Investor shall be used by the Company in the manner as will be set forth in the Prospectus included in any Registration Statement
(and any post-effective amendment thereto) and any Prospectus Supplement thereto filed pursuant to the Registration Rights Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.28.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Investment Company Act Status</U></FONT></B>. The Company is not, and as a result of the
consummation of the transactions contemplated by the Transaction Documents and the application of the proceeds from the sale of the Shares
as will be set forth in the Prospectus included in any Registration Statement (and any post-effective amendment thereto) and any Prospectus
Supplement thereto filed pursuant to the Registration Rights Agreement the Company will not be, an &ldquo;investment company&rdquo; within
the meaning of the Investment Company Act of 1940, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.29.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Taxes</U></FONT></B>. The Company and each of its Subsidiaries have filed all federal, state,
local and foreign tax returns which have been required to be filed by them and paid all taxes shown thereon, to the extent that such taxes
have become due and are not being contested in good faith, except where the failure to so file or pay would not have a Material Adverse
Effect. Except as otherwise disclosed in or contemplated by the Commission Documents, no tax deficiency has been determined adversely
to the Company or any of its Subsidiaries which has had, or would have, individually or in the aggregate, reasonably expected to be a
Material Adverse Effect. The Company has no Knowledge of any federal, state or other governmental tax deficiency, penalty or assessment
which has been or might be asserted or threatened against it which would reasonably have a Material Adverse Effect.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.30.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>ERISA</U></FONT></B>. To the Knowledge of the Company: (i) each material employee benefit
plan, within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (&ldquo;<B><I>ERISA</I></B>&rdquo;),
that is maintained, administered or contributed to by the Company or any of its Affiliates for employees or former employees of the Company
and any of its Subsidiaries has been maintained in material compliance with its terms and the requirements of any applicable statutes,
orders, rules and regulations, including but not limited to ERISA and the Internal Revenue Code of 1986, as amended (the &ldquo;<B><I>Code</I></B>&rdquo;)
in all material respects; and (ii) no prohibited transaction, within the meaning of Section 406 of ERISA or Section 4975 of the Code,
has occurred which would result in a material liability to the Company with respect to any such plan excluding transactions effected pursuant
to a statutory or administrative exemption other than in the case of (i) and (ii) above as would not have a Material Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.31.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Share Transfer Taxes</U></FONT></B>. All share transfer or other taxes (other than income
taxes) which are required to be paid in connection with the sale and transfer of the Shares to be sold hereunder will be, or will have
been, fully paid or provided for by the Company and all laws imposing such taxes will be or will have been fully complied with.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.32.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Insurance</U></FONT></B>. The Company and each of its Subsidiaries carry, or are covered
by, insurance in such amounts and covering such risks as the Company and each of its Subsidiaries reasonably believe are adequate for
the conduct of their business and as is customary for companies engaged in similar businesses in similar industries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.33.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Exemption from Registration</U></FONT></B>. Subject to, and in reliance on, the representations,
warranties and covenants made herein by the Investor, the offer and sale of the Shares in accordance with the terms and conditions of
this Agreement is exempt from the registration requirements of the Securities Act pursuant to Section 4(a)(2); <U>provided</U>, <U>however</U>,
that at the request of and with the express agreements of the Investor (including, without limitation, the representations, warranties
and covenants of Investor set forth in Section 4.9 through 4.13), the Shares to be issued from and after Commencement to or for the benefit
of the Investor pursuant to this Agreement shall be issued to the Investor or its designee only as DWAC Shares and will not bear legends
noting restrictions as to resale of such securities under federal or state securities laws, nor will any such securities be subject to
stop transfer instructions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.34.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>No General Solicitation or Advertising</U></FONT></B>. Neither the Company, nor any of its
Subsidiaries or Affiliates, nor any Person acting on its or their behalf, has engaged in any form of general solicitation or general advertising
(within the meaning of Regulation D) in connection with the offer or sale of the Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.35.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>No Integrated Offering</U></FONT></B>. None of the Company, its Subsidiaries or any of their
Affiliates, nor any Person acting on their behalf has, directly or indirectly, made any offers or sales of any security or solicited any
offers to buy any security, under circumstances that would require registration of the issuance of any of the Shares under the Securities
Act, whether through integration with prior offerings or otherwise, or cause this offering of the Shares to require approval of shareholders
of the Company under any applicable shareholder approval provisions, including, without limitation, under the rules and regulations of
the Principal Market. None of the Company, its Subsidiaries, their Affiliates nor any Person acting on their behalf will take any action
or steps referred to in the preceding sentence that would require registration of the issuance of any of the Shares under the Securities
Act or cause the offering of any of the Shares to be integrated with other offerings.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.36.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Dilutive Effect</U></FONT></B>. The Company is aware and acknowledges that issuance of the
Shares could cause dilution to existing shareholders and could significantly increase the outstanding number of Shares. The Company further
acknowledges that its obligation to issue the Shares to be purchased by the Investor pursuant to a VWAP Purchase is, upon the Company&rsquo;s
delivery to the Investor of a VWAP Purchase Notice for a VWAP Purchase in accordance with this Agreement, absolute and unconditional following
the delivery of such VWAP Purchase Notice to the Investor, regardless of the dilutive effect that such issuance may have on the ownership
interests of other shareholders of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.37.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Manipulation of Price</U></FONT></B>. Neither the Company nor any of its officers, directors,
or to the Knowledge of the Company, its Affiliates has, and, to the Knowledge of the Company, no Person acting on their behalf has, (i)
taken, directly or indirectly, any action designed or intended to cause or to result in the stabilization or manipulation of the price
of any security of the Company, or which caused or resulted in, or which would in the future reasonably be expected to cause or result
in, the stabilization or manipulation of the price of any security of the Company, in each case to facilitate the sale or resale of any
of the Shares, (ii) sold, bid for, purchased, or paid any compensation for soliciting purchases of, any of the Shares, or (iii) paid or
agreed to pay to any Person any compensation for soliciting another to purchase any other securities of the Company. Neither the Company
nor any of its officers, directors or, to the Knowledge of the Company, its Affiliates will during the term of this Agreement, and, to
the Knowledge of the Company, no Person acting on their behalf will during the term of this Agreement, take any of the actions referred
to in the immediately preceding sentence.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.38.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Listing and Maintenance Requirements; DTC Eligibility</U></FONT></B>. The Shares are registered
pursuant to Section 12(b) of the Exchange Act, and the Company has taken no action designed to, or which to its Knowledge is likely to
have the effect of, terminating the registration of the Shares under the Exchange Act, nor has the Company received any notification that
the Commission is contemplating terminating such registration. The Company has not received notice from the Principal Market to the effect
that the Company is not in compliance with the listing or maintenance requirements of the Principal Market. The Shares are eligible for
participation in the DTC book entry system. The Company has not received notice from DTC to the effect that a suspension of, or restriction
on, accepting additional deposits of the Shares, electronic trading or book-entry services by DTC with respect to the Shares is being
imposed or is contemplated.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.39.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Application of Takeover Protections</U></FONT></B>. The Company and its Board of Directors
have taken all necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison pill
(including any distribution under a rights agreement) or other similar anti-takeover provision under the Company&rsquo;s Articles or the
laws of its jurisdiction of incorporation that is or could become applicable to the Investor as a result of the Investor and the Company
fulfilling their respective obligations or exercising their respective rights under the Transaction Documents (as applicable), including,
without limitation, as a result of the Company&rsquo;s issuance of the Shares and the Investor&rsquo;s ownership of the Shares.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.40.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>OFAC</U></FONT></B>. Neither the Company nor any of its Subsidiaries (collectively, the &ldquo;<B><I>Entity</I></B>&rdquo;),
nor any director, officer or employee, is a Person that is, or is 50% or more owned or, where relevant under applicable Sanctions, controlled
by a Person that is (i) the subject of applicable sanctions administered or enforced by the U.S. Treasury Department&rsquo;s Office of
Foreign Asset Control (&ldquo;<B><I>OFAC</I></B>&rdquo;), the United Nations Security Council, the European Union, or Her Majesty&rsquo;s
Treasury, including, designation on OFAC&rsquo;s Specially Designated Nationals and Blocked Persons List or OFAC&rsquo;s Foreign Sanctions
Evaders List (collectively, &ldquo;<B><I>Sanctions</I></B>&rdquo;), nor (ii) located, organized or resident in a country or territory
that is the subject of Sanctions that broadly prohibit dealings with that country or territory (currently, the Crimea region of Ukraine,
the so-called Donetsk People&rsquo;s Republic, the so-called Luhansk People&rsquo;s Republic, Cuba, Iran, North Korea and Syria (the &ldquo;<B><I>Sanctioned
Countries</I></B>&rdquo;)). The Entity will not, directly or knowingly indirectly, use the proceeds from the sale of Shares, or lend,
contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person (a) to fund or facilitate
any activities or business of or with any Person or in any country or territory that, at the time of such funding or facilitation, is
the subject of Sanctions or is a Sanctioned Country, in violation of applicable Sanctions, or (b) in any other manner that will result
in a violation of Sanctions by any Person (including any Person participating in the transactions contemplated by this Agreement, whether
as underwriter, advisor, investor or otherwise). For the past five years, the Entity has not engaged in, and is now not engaged in, any
dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the
subject of Sanctions or was a Sanctioned Country, in violation of applicable Sanctions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.41.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Information Technology; Compliance with Data Privacy Laws</U></FONT></B>. Except where the
failure to so comply would not reasonably be expected to have a Material Adverse Effect, to the Company&rsquo;s Knowledge, the Company
and its Subsidiaries comply in all respects with: (i) all applicable Privacy/Data Security Laws, (ii) any applicable policies of the Company
or any of its Subsidiaries, respectively, concerning the collection, dissemination, storage or use of Personal Information, (iii) industry
standards to which the Company or any of its Subsidiaries, respectively, publicly purports to adhere, and (iv) all contractual commitments
that the Company or any of its Subsidiaries has entered into with respect to privacy and/or data security (collectively, the &ldquo;<B><I>Data
Security Requirements</I></B>&rdquo;). The Company and its Subsidiaries have implemented commercially reasonable data security safeguards
designed to protect the security and integrity of the Business Systems. Except as has not resulted in a Material Adverse Effect, to the
Company&rsquo;s Knowledge, neither the Company nor any Subsidiary has experienced any data security breaches affecting Personal Information
or any unauthorized access or use of any of the Business Systems&#894; been subject to or received written notice of any audits, proceedings
or investigations by any Governmental Authority or received any material claims or complaints alleging the violation of any applicable
Data Security Requirements by the Company or any Subsidiary.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5.42.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Acknowledgment Regarding Investor&rsquo;s Acquisition of Shares; Affiliate Relationships</U></FONT></B>.
The Company acknowledges and agrees, to the fullest extent permitted by law, that the Investor is acting solely in the capacity of an
arm&rsquo;s-length purchaser with respect to this Agreement and the transactions contemplated by the Transaction Documents, and Investor
and/or any affiliated entity of Investor (such affiliated entities, the &ldquo;<B><I>Representatives</I></B>&rdquo; and, together with
Investor, &ldquo;<B><I>Nomura</I></B>&rdquo;) may act as a Representative of the Investor in connection with the transactions contemplated
by the Transaction Documents, and of no other party, including the Company. The Company further acknowledges that the Investor and its
Representatives are not acting as a financial advisor or fiduciary of the Company (or in any similar capacity, except as noted above)
with respect to this Agreement and the transactions contemplated by the Transaction Documents, and any advice given by the Investor or
any of its Representatives or agents in connection therewith is merely incidental to the Investor&rsquo;s acquisition of the Shares. The
Company further represents to the Investor that the Company&rsquo;s decision to enter into the Transaction Documents to which it is a
party has been based solely on the independent evaluation of the transactions contemplated thereby by the Company and its Representatives.
The Company acknowledges and agrees that the Investor has not made and does not make any representations or warranties with respect to
the transactions contemplated by the Transaction Documents other than those specifically set forth in Article IV. The Investor and its
Affiliates engage in a wide range of activities for their own accounts and the accounts of customers, including corporate finance, mergers
and acquisitions, merchant banking, equity and fixed income sales, trading and research, derivatives, foreign exchange, futures, asset
management, custody, clearance and securities lending. In the course of its business, Affiliates of Investor may, directly or indirectly,
hold long or short positions, trade and otherwise conduct such activities in or with respect to debt or equity securities and/or bank
debt of, and/or derivative products relating to, the Company. Any such position will be created, and maintained, independently of the
position Investor takes in the Company. In addition, at any given time the Investor and any of its Affiliates may have been and/or be
engaged by one or more entities that may be competitors with, or otherwise adverse to, the Company in matters unrelated to the transactions
contemplated by the Transaction Documents, and the Investor and any of its Affiliates may have or may in the future provide investment
banking or other services to the Company in matters unrelated to the transactions contemplated by the Transaction Documents. Activities
of any of Investor&rsquo;s Affiliates performed on behalf of the Company may give rise to actual or apparent conflicts of interest given
Investor&rsquo;s potentially competing interests with those of the Company. The Company expressly acknowledges the benefits it receives
from Investor&rsquo;s participation in the transactions contemplated by the Transaction Documents, on the one hand, and Investor&rsquo;s
Affiliates&rsquo; activities, if any, on behalf of the Company unrelated to the transactions contemplated by the Transaction Documents,
on the other hand, and understands the conflict or potential conflict of interest that may arise in this regard, and has consulted with
such independent advisors as it deems appropriate in order to understand and assess the risks associated with these potential conflicts
of interest. Consistent with applicable legal and regulatory requirements, applicable Affiliates of the Investor have adopted policies
and procedures to establish and maintain the independence of their research departments and personnel from their investment banking groups
and the Investor. As a result, research analysts employed by Affiliates of the Investor may hold views, make statements or investment
recommendations or publish research reports with respect to the Company or the transactions contemplated by the Transaction Documents
that differ from the views of the Investor.</P>

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
VI<U><BR>
ADDITIONAL COVENANTS</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company covenants with the Investor, and the
Investor covenants with the Company, as follows, which covenants of one party are for the benefit of the other party, during the Investment
Period (and with respect to the Company, for the period following the termination of this Agreement specified in Section 8.3 pursuant
to and in accordance with Section 8.3):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 6.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Securities Compliance</U></FONT></B>. The Company shall notify the Commission and the Principal
Market, if and as applicable, in accordance with their respective rules and regulations, of the transactions contemplated by the Transaction
Documents, and shall take all necessary action, undertake all proceedings and obtain all registrations, permits, consents and approvals
for the legal and valid issuance of the Shares to the Investor in accordance with the terms of the Transaction Documents, as applicable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 6.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Reservation of Shares</U></FONT></B>. The Company has available and the Company shall reserve
and keep available at all times, free of preemptive and other similar rights of shareholders, the requisite aggregate number of authorized
but unissued Shares to enable the Company to timely effect the sale and issuance of all Shares to be issued, sold and issued in respect
of each VWAP Purchase effected under this Agreement, at least prior to the delivery by the Company to the Investor of the applicable VWAP
Purchase Notice in connection with such VWAP Purchase. Without limiting the generality of the foregoing, as of the Commencement Date,
the Company shall have reserved, out of its authorized and unissued Shares, a number of Shares equal to the Aggregate Limit solely for
the purpose of effecting VWAP Purchases under this Agreement. The number of Shares so reserved for the purpose of effecting VWAP Purchases
under this Agreement may be increased from time to time by the Company from and after the Commencement Date, and such number of reserved
Shares may be reduced from and after the Commencement Date only by the number of Shares actually issued, sold and delivered to the Investor
pursuant to any VWAP Purchase effected from and after the Commencement Date pursuant to this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 6.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Registration and Listing</U></FONT></B>. The Company shall use its commercially reasonable
efforts to cause the Shares to continue to be registered as a class of securities under Section 12(b) of the Exchange Act, and to comply
with its reporting and filing obligations under the Exchange Act, and shall not take any action or file any document (whether or not permitted
by the Securities Act or the Exchange Act) to terminate or suspend such registration or to terminate or suspend its reporting and filing
obligations under the Exchange Act or the Securities Act, except as permitted herein. The Company shall use its commercially reasonable
efforts to continue the listing and trading of its Shares and the listing of the Shares purchased by the Investor hereunder on the Principal
Market and to comply with the Company&rsquo;s reporting, filing and other obligations under the rules and regulations of the Principal
Market. The Company shall not take any action which could be reasonably expected to result in the delisting or suspension of the Shares
on the Principal Market. If the Company receives any final and non-appealable notice that the listing or quotation of the Shares on the
Principal Market shall be terminated on a date certain, the Company shall promptly (and in any case within 24 hours) notify the Investor
of such fact in writing and shall use its commercially reasonable efforts to cause the Shares to be listed or quoted on another Principal
Market.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 6.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Compliance with Laws</U></FONT></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>During the Investment Period, the Company shall comply with applicable provisions of the Securities Act and the Exchange Act, including
Regulation M thereunder, applicable state securities or &ldquo;Blue Sky&rdquo; laws, and applicable listing rules of the Principal Market,
in connection with the transactions contemplated by this Agreement and the Registration Rights Agreement, except as would not, individually
or in the aggregate, prohibit or otherwise interfere with the ability of the Company to enter into and perform its obligations under this
Agreement in any material respect or for Investor to conduct resales of Shares under the Registration Statement in any material respect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Investor shall comply with all laws, rules, regulations and orders applicable to the performance by it of its obligations under
this Agreement and its investment in the Shares, except as would not, individually or in the aggregate, prohibit or otherwise interfere
with the ability of the Investor to enter into and perform its obligations under this Agreement in any material respect. Without limiting
the foregoing, the Investor shall comply with all applicable provisions of the Securities Act and the Exchange Act, including Regulation
M thereunder, and all applicable state securities or &ldquo;Blue Sky&rdquo; laws, in connection with the transactions contemplated by
this Agreement and the Registration Rights Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 6.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Keeping of Records and Books of Account; Due Diligence</U></FONT></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Investor and the Company shall each maintain records showing the remaining Total Commitment, the remaining Aggregate Limit
and the dates and VWAP Purchase Share Amount for each VWAP Purchase.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to the requirements of Section 6.12, from time to time from and after the Closing Date, the Company shall make available
for inspection and review by the Investor during normal business hours and after reasonable notice, customary documentation reasonably
requested by the Investor and/or its appointed counsel or advisors to conduct due diligence; <U>provided</U>, <U>however</U>, that the
Investor&rsquo;s satisfaction with the results of such due diligence shall not be a condition precedent to the Company&rsquo;s right to
deliver to the Investor any VWAP Purchase Notice or the settlement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 6.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>No Frustration; No Variable Rate Transactions</U></FONT></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>No Frustration</U></B>. The Company shall not enter into, announce or recommend to its shareholders any agreement, plan,
arrangement or transaction in or of which the terms thereof would restrict, materially delay, conflict with or impair the ability or right
of the Company to perform its obligations under the Transaction Documents to which it is a party, including, without limitation, the obligation
of the Company to deliver the Shares to the Investor in respect of a VWAP Purchase not later than the VWAP Purchase Share Delivery Date.
For the avoidance of doubt, nothing in this Section 6.6(i) shall in any way limit the Company&rsquo;s right to terminate this Agreement
in accordance with Section 8.2 (subject in all cases to Section 8.3).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>No Variable Rate Transactions</U></B>. The Company shall not effect or enter into an agreement to effect any issuance by
the Company or any of its Subsidiaries of Shares or Share Equivalents (or a combination of units thereof) involving a Variable Rate Transaction,
other than in connection with an Exempt Issuance or pursuant to an agreement disclosed in the Commission Documents. The Investor shall
be entitled to seek injunctive relief against the Company and its Subsidiaries to preclude any such issuance, which remedy shall be in
addition to any right to collect damages, without the necessity of showing economic loss and without any bond or other security being
required.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 6.7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Corporate Existence</U></FONT></B>. The Company shall take all steps necessary to preserve
and continue the corporate existence of the Company; <U>provided</U>, <U>however</U>, that, except as provided in Section 6.8, nothing
in this Agreement shall be deemed to prohibit the Company from engaging in any Fundamental Transaction with another Person. For the avoidance
of doubt, nothing in this Section 6.7 shall in any way limit the Company&rsquo;s right to terminate this Agreement in accordance with
Section 8.2 (subject in all cases to Section 8.3).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 6.8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Fundamental Transaction</U></FONT></B>. If a VWAP Purchase Notice has been delivered to the
Investor and the issuance of Shares contemplated therein has not occurred in accordance with the terms and conditions of this Agreement,
the Company shall not effect any Fundamental Transaction until the expiration of five (5) Trading Days following the date of full settlement
thereof and the issuance to the Investor of all of the Shares issuable pursuant to the VWAP Purchase to which such VWAP Purchase Notice
relates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: none"><B>Section 6.9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Sarbanes-Oxley Act. </U></B></FONT>The Company and the Subsidiaries will maintain and keep accurate books and records reflecting
their assets and maintain internal accounting controls in a manner designed to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external purposes in accordance with International Financial Reporting
Standards (&ldquo;<B><I>IFRS</I></B>&rdquo;) and including those policies and procedures that (i) pertain to the maintenance of records
that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the Company, (ii) provide reasonable
assurance that transactions are recorded as necessary to permit the preparation of the Company&rsquo;s consolidated financial statements
in accordance with IFRS, (iii) that receipts and expenditures of the Company are being made only in accordance with management&rsquo;s
and the Company&rsquo;s directors&rsquo; authorization, and (iv) provide reasonable assurance regarding prevention or timely detection
of unauthorized acquisition, use or disposition of the Company&rsquo;s assets that could have a material effect on its financial statements.
The Company and the Subsidiaries will maintain such controls and other procedures, including, without limitation, those required by Sections
302 and 906 of the Sarbanes-Oxley Act, and the applicable regulations thereunder that are designed to ensure that information required
to be disclosed by the Company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported,
within the time periods specified in the Commission&rsquo;s rules and forms, including, without limitation, controls and procedures designed
to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is accumulated
and communicated to the Company&rsquo;s management, including its principal executive officer and principal financial officer, or persons
performing similar functions, as appropriate to allow timely decisions regarding required disclosure and to ensure that material information
relating to the Company or the Subsidiaries is made known to them by others within those entities, particularly during the period in which
such periodic reports are being prepared.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 6.10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Selling Restrictions</U></FONT></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except as expressly set forth below, the Investor covenants that from and after the Closing Date through and including the Trading
Day next following the expiration or termination of this Agreement as provided in Article VIII (the &ldquo;<B><I>Restricted Period</I></B>&rdquo;),
none of the Investor, any of its officers, or any entity managed or controlled by the Investor (collectively, the &ldquo;<B><I>Restricted
Persons</I></B>&rdquo; and each of the foregoing is referred to herein as a &ldquo;<B><I>Restricted Person</I></B>&rdquo;) shall, directly
or indirectly, (i) engage in any Short Sales of the Shares or (ii) hedging transaction, which establishes a net short position with respect
to the Shares, with respect to each of clauses (i) and (ii) hereof, either for its own principal account or for the principal account
of any other Restricted Person; <U>provided</U>, <U>however</U>, that the foregoing shall not apply to any such transactions effected
by a Restricted Person on behalf of its customers when such Restricted Person is acting in its capacity as a broker or dealer, or to any
hedging transaction involving options or other positions held by a Restricted Person unrelated to the transactions contemplated by this
Agreement when such Restricted Person is acting in its capacity as a broker or dealer. Notwithstanding the foregoing, it is expressly
understood and agreed that nothing contained herein shall (without implication that the contrary would otherwise be true) prohibit any
Restricted Person during the Restricted Period from: (1) selling &ldquo;long&rdquo; (as defined under Rule 200 promulgated under Regulation
SHO) the Shares; or (2) selling a number of Shares equal to the number of Shares that such Restricted Person is unconditionally obligated
to purchase under a pending VWAP Purchase Notice but has not yet received from the Company or the Transfer Agent pursuant to this Agreement,
so long as (X) such Restricted Person (or the Broker-Dealer, as applicable) delivers the Shares purchased pursuant to such VWAP Purchase
Notice to the purchaser thereof or the applicable Broker-Dealer promptly upon such Restricted Person&rsquo;s receipt of such Shares from
the Company in accordance with Section 3.2 of this Agreement and (Y) neither the Company nor the Transfer Agent shall have failed for
any reason to issue such Shares to the Investor or its Broker-Dealer so that such Shares are received by the Investor as DWAC Shares on
the applicable VWAP Purchase Share Delivery Date in accordance with Section 3.2 of this Agreement, including, without limitation, within
the time period specified for receipt of such Shares by the Investor or its Broker-Dealer as DWAC Shares from the Company or the Transfer
Agent. The parties acknowledge and agree that the Investor, in its capacity as Broker-Dealer, shall be permitted to mark the sales of
Shares on each VWAP Purchase Date as &ldquo;short&rdquo; for purposes of Rule 200 promulgated under Regulation SHO since the exact amount
of Shares to be sold on such date is uncertain, and such designation shall not be considered a breach of (i) above by the Investor.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In addition to the foregoing, in connection with any sale of Shares (including any sale permitted by paragraph (i) above), the
Investor shall comply in all respects with all applicable laws, rules, regulations and orders, including, without limitation, the requirements
of the Securities Act and the Exchange Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 6.11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Effective Registration Statement</U></FONT></B>. During the Investment Period, the Company
shall use its commercially reasonable efforts to maintain the continuous effectiveness of the Initial Registration Statement and each
New Registration Statement filed with the Commission under the Securities Act for the applicable Registration Period pursuant to and in
accordance with the Registration Rights Agreement.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 6.12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Blue Sky</U></FONT></B>. The Company shall take such action, if any, as is necessary by the
Company in order to obtain an exemption for or to qualify the Shares for sale by the Company to the Investor pursuant to the Transaction
Documents, and at the request of the Investor, the subsequent resale of Registrable Securities by the Investor, in each case, under applicable
state securities or &ldquo;Blue Sky&rdquo; laws and shall provide evidence of any such action so taken to the Investor from time to time
following the Closing Date; <U>provided</U>, <U>however</U>, that the Company shall not be required in connection therewith or as a condition
thereto to (x) qualify to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 6.11,
(y) subject itself to general taxation in any such jurisdiction, or (z) file a general consent to service of process in any such jurisdiction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 6.13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Non-Public Information</U></FONT></B>. Neither the Company or any of its Subsidiaries, nor
any of their respective directors, officers, employees or agents shall disclose any material non-public information about the Company
to the Investor during any VWAP Purchase Period, unless a simultaneous public announcement thereof is made by the Company in the manner
contemplated by Regulation FD as if Regulation FD were applicable to the Company. In the event of a breach of the foregoing covenant by
the Company or any of its Subsidiaries, or any of their respective directors, officers, employees and agents (as determined in the reasonable
good faith judgment of the Investor), (i) the Investor shall promptly provide written notice of such breach to the Company and (ii) after
such notice has been provided to the Company and, provided that the Company shall have failed to demonstrate to the Investor in writing
within 24 hours that such information does not constitute material, non-public information or the Company shall have failed to publicly
disclose such material, non-public information within 24 hours following demand therefor by the Investor, in addition to any other remedy
provided herein or in the other Transaction Documents, if the Investor is holding any Shares at the time of the disclosure of material,
non-public information, the Investor shall have the right to make a public disclosure, in the form of a press release, public advertisement
or otherwise, of such material, non-public information; <U>provided</U> that prior to making any such public disclosure, the Investor
shall consult with the Company and provide the Company with an opportunity of forty-eight (48) hours to review and comment on such disclosure.
The Investor shall not have any liability to the Company, any of its Subsidiaries, or any of their respective directors, officers, employees,
shareholders or agents, for any such disclosure or return of Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 6.14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Broker/Dealer</U></FONT></B>. The Investor shall use one or more broker-dealers (which may
be the Investor or an Affiliate of the Investor) to effectuate all sales, if any, of the Shares that it may purchase or otherwise acquire
from the Company pursuant to the Transaction Documents, as applicable, which (or whom) shall be a DTC participant (collectively, the &ldquo;<B><I>Broker-Dealer</I></B>&rdquo;).
The Investor shall, from time to time, provide the Company and the Transfer Agent with all information regarding the Broker-Dealer reasonably
requested by the Company. The Investor shall be solely responsible for all fees and commissions of the Broker-Dealer (if any), which shall
not exceed customary brokerage fees and commissions and shall be responsible for designating only a DTC participant eligible to receive
DWAC Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 6.15.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Disclosure Schedule</U></FONT></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company may, from time to time, update a disclosure schedule (the &ldquo;<B><I>Disclosure Schedule</I></B>&rdquo;) as may be
required to satisfy the conditions set forth in Section 7.2(i) and Section 7.3(i) (to the extent such condition set forth in Section 7.3(i)
relates to the condition in Section 7.2(i) as of a specific VWAP Purchase Condition Satisfaction Time). For purposes of this Section 6.14,
any disclosure made in a schedule to the Compliance Certificate shall be deemed to be an update of the Disclosure Schedule. Notwithstanding
anything in this Agreement to the contrary, no update to the Disclosure Schedule pursuant to this Section 6.14 shall cure any breach of
a representation or warranty of the Company contained in this Agreement and made prior to the update and shall not affect any of the Investor&rsquo;s
rights or remedies with respect thereto.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding anything to the contrary contained in the Disclosure Schedule or in this Agreement, the information and disclosure
contained in any Schedule of the Disclosure Schedule shall be deemed to be disclosed and incorporated by reference in any other Schedule
of the Disclosure Schedule as though fully set forth in such Schedule for which applicability of such information and disclosure is readily
apparent on its face. The fact that any item of information is disclosed in the Disclosure Schedule shall not be construed to mean that
such information is required to be disclosed by this Agreement. Except as expressly set forth in this Agreement, such information and
the thresholds (whether based on quantity, qualitative characterization, dollar amounts or otherwise) set forth herein shall not be used
as a basis for interpreting the terms &ldquo;material&rdquo; or &ldquo;Material Adverse Effect&rdquo; or other similar terms in this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 6.16.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="text-transform: none"><U>Delivery
of Bring-Down Opinions and Compliance Certificates Upon Occurrence of Certain Events</U></FONT></B>. Within three (3) Trading Days
immediately following the date the Company files with the Commission (i) an annual report on Form 20-F under the Exchange Act with
respect to a fiscal year ending after the Commencement Date; (ii) an amendment on Form 20-F/A to an annual report on Form 20-F under
the Exchange Act with respect to a fiscal year ending after the Commencement Date, which contains amended material financial
information (or a restatement of material financial information) or an amendment to other material information contained in a
previously filed Form 20-F, which contains amended material financial information (or a restatement of material financial
information); or (iii) the Initial Registration Statement, any New Registration Statement, or the Prospectus or any amendment to
other material information contained or incorporated by reference in the Initial Registration Statement or any New Registration
Statement (it being hereby acknowledged and agreed that the filing or furnishing by the Company with the Commission of a report on
Form 6-K that includes only updated financial information as of the end of the Company&rsquo;s most recent fiscal quarter shall not,
in and of itself, constitute an &ldquo;amendment&rdquo; or &ldquo;restatement&rdquo; for purposes of this Section 6.16), and in any
case, not more than once per calendar quarter (each, a &ldquo;<B><I>Representation Date</I></B>&rdquo;), the Company shall (I)
deliver to the Investor a Compliance Certificate, dated such date, (II) cause to be furnished to the Investor an opinion and
negative assurance &ldquo;bring down&rdquo; from outside counsel to each of the Company and the Investor, respectively,
substantially in the form mutually agreed to by the Company and the Investor prior to the date of this Agreement, modified, as
necessary, to relate to such Registration Statement or post-effective amendment, as applicable (each such opinion, a
 &ldquo;<B><I>Bring-Down Opinion</I></B>&rdquo;) and (III) cause to be furnished to the Investor a comfort letter from the
independent registered public accounting firm or firms whose reports are included or incorporated by reference in the Registration
Statement and the Prospectus, and any Prospectus Supplement (in the case of a post-effective amendment, only if such amendment
contains amended or new financial information) (the &ldquo;<B><I>Bring-Down Comfort Letter</I></B>&rdquo;). The requirement to
provide the documents identified in clauses (I) and (II) of this Section 6.16 shall be waived for any Representation Date if the
Company or the Investor has given notice to the other party in writing (including by email correspondence to the individual(s) of
the other party set forth in Section 10.4 hereto, if receipt of such correspondence is actually acknowledged by any individual to
whom the notice is sent, other than via auto-reply) or by telephone (confirmed immediately by verifiable facsimile transmission or
email correspondence to the individual(s) of the other party set forth in Section 10.4 hereto) of the suspension of VWAP Purchases
(a &ldquo;<B><I>Suspension</I></B>&rdquo;), which waiver shall continue until the earlier to occur of the date the Company delivers
a VWAP Purchase Notice hereunder (which for such calendar quarter shall be considered a Representation Date) and the next occurring
Representation Date. Notwithstanding the foregoing, if the Company subsequently decides to deliver a VWAP Purchase Notice following
a Representation Date when a Suspension was in effect and did not provide the Investor with the documents identified in clauses (I),
(II) and (III) of this Section 6.16, then before the Investor accepts such VWAP Purchase Notice, the Company shall provide the
Investor with the documents identified in clauses (I), (II) and (III) of this Section 6.16, dated as of the date that the VWAP
Purchase Notice is accepted by the Investor.</P>

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
VII<U><BR>
CONDITIONS TO CLOSING AND CONDITIONS TO THE SALE<BR>
AND PURCHASE OF THE SHARES</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 7.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Conditions Precedent to Closing</U></FONT></B>. The Closing is subject to the satisfaction
of each of the conditions set forth in this Section 7.1 on the Closing Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Accuracy of the Investor&rsquo;s Representations and Warranties</U></B>. The representations and warranties of the Investor
contained in this Agreement (a) that are not qualified by &ldquo;materiality&rdquo; shall be true and correct in all material respects
as of the Closing Date, except to the extent such representations and warranties are as of another date, in which case, such representations
and warranties shall be true and correct in all material respects as of such other date and (b) that are qualified by &ldquo;materiality&rdquo;
shall be true and correct as of the Closing Date, except to the extent such representations and warranties are as of another date, in
which case, such representations and warranties shall be true and correct as of such other date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Accuracy of the Company&rsquo;s Representations and Warranties</U></B>. The representations and warranties of the Company
contained in this Agreement (a) that are not qualified by &ldquo;materiality&rdquo; or &ldquo;Material Adverse Effect&rdquo; shall be
true and correct in all material respects as of the Closing Date, except to the extent such representations and warranties are as of another
date, in which case, such representations and warranties shall be true and correct in all material respects as of such other date and
(b) that are qualified by &ldquo;materiality&rdquo; or &ldquo;Material Adverse Effect&rdquo; shall be true and correct as of the Closing
Date, except to the extent such representations and warranties are as of another date, in which case, such representations and warranties
shall be true and correct as of such other date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Tax Forms</U></B>. The Investor shall have delivered to the Company a duly completed and executed Internal Revenue Service
Form W-9.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Closing Deliverables</U></B>. At the Closing, counterpart signature pages of this Agreement and the Registration Rights Agreement
executed by each of the parties hereto shall be delivered as provided in Section 2.2. Simultaneously with the execution and delivery of
this Agreement and the Registration Rights Agreement, the Investor&rsquo;s counsel shall have received (a) mutually agreed upon forms
of the opinions of outside counsel to the Company to be delivered to the Investor on the Commencement Date and (b) the closing certificate
from the Company, dated the Closing Date, in the form of <U>Exhibit B</U> hereto.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 7.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Conditions Precedent to Commencement</U></FONT></B>. The right of the Company to commence
delivering VWAP Purchase Notices under this Agreement, and the obligation of the Investor to accept VWAP Purchase Notices delivered to
the Investor by the Company under this Agreement, are subject to the initial satisfaction, at Commencement, of each of the conditions
set forth in this Section 7.2.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Accuracy of the Company&rsquo;s Representations and Warranties</U></B>. The representations and warranties of the Company
contained in this Agreement (a) that are not qualified by &ldquo;materiality&rdquo; or &ldquo;Material Adverse Effect&rdquo; shall have
been true and correct in all material respects when made and shall be true and correct in all material respects as of the Commencement
Date with the same force and effect as if made on such date, except to the extent such representations and warranties are as of another
date, in which case, such representations and warranties shall be true and correct in all material respects as of such other date and
(b) that are qualified by &ldquo;materiality&rdquo; or &ldquo;Material Adverse Effect&rdquo; shall have been true and correct when made
and shall be true and correct as of the Commencement Date with the same force and effect as if made on such date, except to the extent
such representations and warranties are as of another date, in which case, such representations and warranties shall be true and correct
as of such other date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Performance of the Company</U></B>. The Company shall have performed, satisfied and complied in all material respects with
all covenants, agreements and conditions required by this Agreement and the Registration Rights Agreement to be performed, satisfied or
complied with by the Company at or prior to the Commencement. The Company shall deliver to the Investor on the Commencement Date the compliance
certificate substantially in the form attached hereto as <U>Exhibit C</U> (the &ldquo;<B><I>Compliance Certificate</I></B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Initial Registration Statement Effective</U></B>. The Initial Registration Statement covering the resale by the Investor
of the Registrable Securities included therein required to be filed by the Company with the Commission pursuant to Section 2(a) of the
Registration Rights Agreement shall have become effective under the Securities Act, and the Investor shall be permitted to utilize the
Prospectus therein to resell the Shares included in such Prospectus.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>No Material Notices</U></B>. None of the following events shall have occurred and be continuing: (a) receipt of any request
by the Commission or any other federal or state governmental authority for any additional information relating to the Initial Registration
Statement, the Prospectus contained therein or any Prospectus Supplement thereto, or for any amendment of or supplement to the Initial
Registration Statement, the Prospectus contained therein or any Prospectus Supplement thereto; (b) the issuance by the Commission or any
other federal or state governmental authority of any stop order suspending the effectiveness of the Initial Registration Statement or
prohibiting or suspending the use of the Prospectus contained therein or any Prospectus Supplement thereto, or of the suspension of qualification
or exemption from qualification of the Shares for offering or sale in any jurisdiction, or the initiation or contemplated initiation of
any proceeding for such purpose; (c) the objection of FINRA to the terms of the transactions contemplated by the Transaction Documents;
or (d) the occurrence of any event or the existence of any condition or state of facts, which makes any statement of a material fact made
in the Initial Registration Statement, the Prospectus contained therein or any Prospectus Supplement thereto untrue or which requires
the making of any additions to or changes to the statements then made in the Initial Registration Statement, the Prospectus contained
therein or any Prospectus Supplement thereto in order to state a material fact required by the Securities Act to be stated therein or
necessary in order to make the statements then made therein (in the case of the Prospectus or any Prospectus Supplement, in the light
of the circumstances under which they were made) not misleading, or which requires an amendment to the Initial Registration Statement
or a supplement to the Prospectus contained therein or any Prospectus Supplement thereto to comply with the Securities Act or any other
law. The Company shall have no Knowledge of any event that would reasonably be expected to have the effect of causing the suspension of
the effectiveness of the Initial Registration Statement or the prohibition or suspension of the use of the Prospectus contained therein
or any Prospectus Supplement thereto in connection with the resale of the Registrable Shares by the Investor.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Other Commission Filings</U></B>. The Current Report shall have been filed with the Commission as required pursuant to Section
2.3. The final Prospectus included in the Initial Registration Statement shall have been filed with the Commission prior to Commencement
in accordance with Section 2.3 and the Registration Rights Agreement. All reports, schedules, registrations, forms, statements, information
and other documents required to have been filed by the Company with the Commission pursuant to the reporting requirements of the Exchange
Act, including all material required to have been filed pursuant to Section 13(a) or 15(d) of the Exchange Act, prior to Commencement
shall have been filed with the Commission.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(vi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>No Suspension of Trading in or Notice of Delisting of Shares</U></B>. Trading in the Shares shall not have been suspended
by the Commission, the Principal Market or FINRA (except for any suspension of trading of limited duration agreed to by the Company, which
suspension shall be terminated prior to the Commencement Date), the Company shall not have received any final and non-appealable notice
that the listing or quotation of the Shares on the Principal Market shall be terminated on a date certain (unless, prior to such date
certain, the Shares are listed or quoted on any other Principal Market), nor shall there have been imposed any suspension of, or restriction
on, accepting additional deposits of the Shares, electronic trading or book-entry services by DTC with respect to the Shares that is continuing,
the Company shall not have received any notice from DTC to the effect that a suspension of, or restriction on, accepting additional deposits
of the Shares, electronic trading or book-entry services by DTC with respect to the Shares is being imposed or is contemplated (unless,
prior to such suspension or restriction, DTC shall have notified the Company in writing that DTC has determined not to impose any such
suspension or restriction).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(vii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Compliance with Laws</U></B>. The Company shall have complied with all applicable federal, state and local governmental laws,
rules, regulations and ordinances in connection with the execution, delivery and performance of this Agreement and the other Transaction
Documents to which it is a party and the consummation of the transactions contemplated hereby and thereby, including, without limitation,
the Company shall have obtained all permits and qualifications required by any applicable state securities or &ldquo;Blue Sky&rdquo; laws
for the offer and sale of the Shares by the Company to the Investor and the subsequent resale of the Registrable Securities by the Investor
(or shall have the availability of exemptions therefrom).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(viii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>No Injunction</U></B>. No statute, regulation, order, decree, writ, ruling or injunction shall have been enacted, entered,
promulgated, threatened or endorsed by any court or governmental authority of competent jurisdiction which prohibits the consummation
of or which would materially modify or delay any of the transactions contemplated by the Transaction Documents.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ix)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>No Proceedings or Litigation</U></B>. No action, suit or proceeding before any arbitrator or any court or governmental authority
shall have been commenced, and no inquiry or investigation by any governmental authority shall have been commenced, against the Company
or any Subsidiary, or any of the officers, directors or Affiliates of the Company or any Subsidiary, seeking to restrain, prevent or change
the transactions contemplated by the Transaction Documents, or seeking material damages in connection with such transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(x)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Listing of Shares</U></B>. All of the Shares that have been and may be issued pursuant to this Agreement shall have been
approved for listing or quotation on the Principal Market as of the Commencement Date, subject only to notice of issuance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(xi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>No Material Adverse Effect</U></B>. No condition, occurrence, state of facts or event constituting a Material Adverse Effect
shall have occurred and be continuing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(xii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>No Bankruptcy Proceedings</U></B>. No Person shall have commenced a proceeding against the Company pursuant to or within
the meaning of any Bankruptcy Law. The Company shall not have, pursuant to or within the meaning of any Bankruptcy Law, (a) commenced
a voluntary case, (b) consented to the entry of an order for relief against it in an involuntary case, (c) consented to the appointment
of a Custodian of the Company or for all or substantially all of its property, or (d) made a general assignment for the benefit of its
creditors. A court of competent jurisdiction shall not have entered an order or decree under any Bankruptcy Law that (I) is for relief
against the Company in an involuntary case, (II) appoints a Custodian of the Company or for all or substantially all of its property,
or (III) orders the liquidation of the Company or any of its Subsidiaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(xiii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Reserved</U></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(xiv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Delivery of Commencement Irrevocable Transfer Agent Instructions and Notice of Effectiveness</U></B>. Irrevocable instructions
executed by the Company (the &ldquo;<B><I>Commencement Irrevocable Transfer Agent Instructions</I></B>&rdquo;) shall have been delivered
to and acknowledged in writing by the Company&rsquo;s Transfer Agent, directing the Transfer Agent to issue to the Investor or its designated
Broker-Dealer all of the Shares included in the Initial Registration Statement as DWAC Shares in accordance with this Agreement and the
Registration Rights Agreement and a legal opinion relating to the removal of restrictive legends from the Shares shall have been executed
by the Company&rsquo;s outside counsel and delivered to the Transfer Agent (the &ldquo;<B><I>Notice of Effectiveness</I></B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(xv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Reservation of Shares</U></B>. As of the Commencement Date, the Company shall have reserved out of its authorized and unissued
Shares a number of Shares equal to the Aggregate Limit solely for the purpose of effecting VWAP Purchases under this Agreement.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(xvi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Opinions of Counsel</U></B>. On the Commencement Date, the Investor shall have received the opinions and negative assurances
from outside counsel to the Company and outside counsel to the Investor, dated the Commencement Date, in the forms mutually agreed to
by the Company and the Investor prior to the date of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(xvii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Comfort Letter of Accountant</U></B>. On the Commencement Date, the Investor shall have received from PricewaterhouseCoopers
LLP, the Company&rsquo;s independent registered public accounting firm (the &ldquo;<B><I>Accountant</I></B>&rdquo;), or a successor independent
registered public accounting firm for the Company, a letter dated the date of the filing of the Registration Statement addressed to the
Investor, in form and substance reasonably satisfactory to the Investor with respect to the audited and unaudited financial statements
and certain financial information contained in the Registration Statement and the Prospectus, and any Prospectus Supplement, except that
the specific date referred to therein for the carrying out of procedures shall be no more than three Business Days prior to the Commencement
Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(xviii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT><B><U>FINRA</U></B>. On or prior to the Effective Date of the Initial Registration Statement, FINRA shall have confirmed in writing
that it has no objection with respect to the fairness and reasonableness of the terms and arrangements of the transactions contemplated
by the Transaction Documents.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(xix)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Research</U></B>. Neither the Investor nor any Affiliate of the Investor shall have, in the prior thirty (30) days, published
or distributed any research report (as such term is defined in Rule 500 of Regulation AC) concerning the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(xx)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Qualified Independent Underwriter</U></B>. If the Investor reasonably determines that a Qualified Independent Underwriter
must participate in the transactions contemplated by the Transaction Documents in order for such transactions to be in full compliance
with FINRA&rsquo;s rules, the Company and the Investor shall have executed such documentation as may reasonably be required to engage
a Qualified Independent Underwriter to participate in such transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 7.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Conditions Precedent to VWAP Purchases after Commencement Date</U></FONT></B>. The right
of the Company to deliver VWAP Purchase Notices under this Agreement after the Commencement Date, and the obligation of the Investor to
accept VWAP Purchase Notices under this Agreement after the Commencement Date, are subject to the satisfaction of each of the conditions
set forth in this Section 7.3 at the applicable VWAP Purchase Commencement Time for the VWAP Purchase to be effected pursuant to the applicable
VWAP Purchase Notice timely delivered by the Company to the Investor in accordance with this Agreement (each such time, a &ldquo;<B><I>VWAP
Purchase Condition Satisfaction Time</I></B>&rdquo;).</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Satisfaction of Certain Prior Conditions</U></B>. Each of the conditions set forth in subsections (i), (ii), (vii) through
(xiv), (xix) and (xx) set forth in Section 7.2 shall be satisfied at the applicable VWAP Purchase Condition Satisfaction Time after the
Commencement Date (with the terms &ldquo;Commencement&rdquo; and &ldquo;Commencement Date&rdquo; in the conditions set forth in subsections
(i) and (ii) of Section 7.2 replaced with &ldquo;<B><I>applicable VWAP Purchase Condition Satisfaction Time</I></B>&rdquo;); <U>provided</U>,
<U>however</U>, that the Company shall not be required to deliver the Compliance Certificate after the Commencement Date, except as provided
in Section 6.15.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Initial Registration Statement Effective</U></B>. The Initial Registration Statement covering the resale by the Investor
of the Registrable Securities included therein filed by the Company with the Commission pursuant to Section 2(a) of the Registration Rights
Agreement, and any post-effective amendment thereto required to be filed by the Company with the Commission after the Commencement Date
and prior to the applicable VWAP Purchase Date pursuant to the Registration Rights Agreement, in each case shall have become effective
under the Securities Act and shall remain effective for the applicable Registration Period (as defined in the Registration Rights Agreement),
and the Investor shall be permitted to utilize the Prospectus therein, and any Prospectus Supplement thereto, to resell (a) the Shares
included in the Initial Registration Statement, and any post-effective amendment thereto, that have been issued and sold to the Investor
hereunder pursuant to all VWAP Purchase Notices delivered by the Company to the Investor prior to such applicable VWAP Purchase Date and
(b) all of the Shares included in the Initial Registration Statement, and any post-effective amendment thereto, that are issuable pursuant
to the applicable VWAP Purchase Notice delivered by the Company to the Investor with respect to a VWAP Purchase to be effected hereunder
on such applicable VWAP Purchase Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Any Required New Registration Statement Effective</U></B>. Any New Registration Statement covering the resale by the Investor
of the Registrable Securities included therein, and any post-effective amendment thereto, required to be filed by the Company with the
Commission pursuant to the Registration Rights Agreement after the Commencement Date and prior to the applicable VWAP Purchase Date, in
each case shall have become effective under the Securities Act and shall remain effective for the applicable Registration Period, and
the Investor shall be permitted to utilize the Prospectus therein, and any Prospectus Supplement thereto, to resell (a) the Shares included
in such New Registration Statement, and any post-effective amendment thereto, that have been issued and sold to the Investor hereunder
pursuant to all VWAP Purchase Notices delivered by the Company to the Investor prior to such applicable VWAP Purchase Date and (b) all
of the Shares included in such new Registration Statement, and any post-effective amendment thereto, that are issuable pursuant to the
applicable VWAP Purchase Notice delivered by the Company to the Investor with respect to a VWAP Purchase to be effected hereunder on such
applicable VWAP Purchase Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Delivery of Subsequent Irrevocable Transfer Agent Instructions and Notice of Effectiveness</U></B>. With respect to any post-effective
amendment to the Initial Registration Statement, any New Registration Statement or any post-effective amendment to any New Registration
Statement, in each case becoming effective after the Commencement Date, the Company shall have delivered or caused to be delivered to
the Transfer Agent (a) irrevocable instructions in the form substantially similar to the Commencement Irrevocable Transfer Agent Instructions
executed by the Company and acknowledged in writing by the Transfer Agent and (b) the Notice of Effectiveness, in each case modified as
necessary to refer to such Registration Statement or post-effective amendment and the Registrable Securities included therein, to issue
the Registrable Securities included therein as DWAC Shares in accordance with the terms of this Agreement and the Registration Rights
Agreement.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>No Material Notices</U></B>. None of the following events shall have occurred and be continuing: (a) receipt of any request
by the Commission or any other federal or state governmental authority for any additional information relating to the Initial Registration
Statement or any post-effective amendment thereto, any New Registration Statement or any post-effective amendment thereto, or the Prospectus
contained in any of the foregoing or any Prospectus Supplement thereto, or for any amendment of or supplement to the Initial Registration
Statement or any post-effective amendment thereto, any New Registration Statement or any post-effective amendment thereto, or the Prospectus
contained in any of the foregoing or any Prospectus Supplement thereto; (b) the issuance by the Commission or any other federal or state
governmental authority of any stop order suspending the effectiveness of the Initial Registration Statement or any post-effective amendment
thereto, any New Registration Statement or any post-effective amendment thereto, or prohibiting or suspending the use of the Prospectus
contained in any of the foregoing or any Prospectus Supplement thereto, or of the suspension of qualification or exemption from qualification
of the Shares for offering or sale in any jurisdiction, or the initiation or contemplated initiation of any proceeding for such purpose;
(c) the objection of FINRA to the terms of the transactions contemplated by the Transaction Documents or (d) the occurrence of any event
or the existence of any condition or state of facts, which makes any statement of a material fact made in the Initial Registration Statement
or any post-effective amendment thereto, any New Registration Statement or any post-effective amendment thereto, or the Prospectus contained
in any of the foregoing or any Prospectus Supplement thereto untrue or which requires the making of any additions to or changes to the
statements then made in the Initial Registration Statement or any post-effective amendment thereto, any New Registration Statement or
any post-effective amendment thereto, or the Prospectus contained in any of the foregoing or any Prospectus Supplement thereto in order
to state a material fact required by the Securities Act to be stated therein or necessary in order to make the statements then made therein
(in the case of the Prospectus or any Prospectus Supplement, in the light of the circumstances under which they were made) not misleading,
or which requires an amendment to the Initial Registration Statement or any post-effective amendment thereto, any New Registration Statement
or any post-effective amendment thereto, or the Prospectus contained in any of the foregoing or any Prospectus Supplement thereto to comply
with the Securities Act or any other law (other than the transactions contemplated by the applicable VWAP Purchase Notice delivered by
the Company to the Investor with respect to a VWAP Purchase to be effected hereunder on such applicable VWAP Purchase Date and the settlement
thereof). The Company shall have no Knowledge of any event that would reasonably be expected to have the effect of causing the suspension
of the effectiveness of the Initial Registration Statement or any post-effective amendment thereto, any New Registration Statement or
any post-effective amendment thereto, or the prohibition or suspension of the use of the Prospectus contained in any of the foregoing
or any Prospectus Supplement thereto in connection with the resale of the Registrable Securities by the Investor.</P>

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



<P STYLE="margin: 0pt; font-size: 10pt"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(vi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Other Commission Filings</U></B>. The final Prospectus included in any post-effective amendment to the Initial Registration
Statement, and any Prospectus Supplement thereto, required to be filed by the Company with the Commission pursuant to Section 2.3 and
the Registration Rights Agreement after the Commencement Date and prior to the applicable VWAP Purchase Date, shall have been filed with
the Commission in accordance with Section 2.3 and the Registration Rights Agreement. The final Prospectus included in any New Registration
Statement and in any post-effective amendment thereto, and any Prospectus Supplement thereto, required to be filed by the Company with
the Commission pursuant to Section 2.3 and the Registration Rights Agreement after the Commencement Date and prior to the applicable VWAP
Purchase Date, shall have been filed with the Commission in accordance with Section 2.3 and the Registration Rights Agreement. All reports,
schedules, registrations, forms, statements, information and other documents required to have been filed by the Company with the Commission
pursuant to the reporting requirements of the Exchange Act, including all material required to have been filed pursuant to Section 13(a)
or 15(d) of the Exchange Act, after the Commencement Date and prior to the applicable VWAP Purchase Date, shall have been filed with the
Commission.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(vii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>No Suspension of Trading in or Notice of Delisting of Shares</U></B>. Trading in the Shares shall not have been suspended
by the Commission, the Principal Market or FINRA (except for any suspension of trading of limited duration agreed to by the Company, which
suspension shall be terminated prior to the applicable VWAP Purchase Date), the Company shall not have received any final and non-appealable
notice that the listing or quotation of the Shares on the Principal Market shall be terminated on a date certain (unless, prior to such
date certain, the Shares are listed or quoted on any other Principal Market), nor shall there have been imposed any suspension of, or
restriction on, accepting additional deposits of the Shares, electronic trading or book-entry services by DTC with respect to the Shares
that is continuing, the Company shall not have received any notice from DTC to the effect that a suspension of, or restriction on, accepting
additional deposits of the Shares, electronic trading or book-entry services by DTC with respect to the Shares is being imposed or is
contemplated (unless, prior to such suspension or restriction, DTC shall have notified the Company in writing that DTC has determined
not to impose any such suspension or restriction).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(viii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Certain Limitations</U></B>. The issuance and sale of the Shares issuable pursuant to the applicable VWAP Purchase Notice
shall not (a) exceed the applicable VWAP Purchase Maximum Amount or (b) cause the Aggregate Limit or the Beneficial Ownership Limitation
to be exceeded.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ix)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Shares Authorized and Delivered</U></B>. All of the Shares issuable pursuant to the applicable VWAP Purchase Notice shall
have been duly authorized by all necessary corporate action of the Company. All Shares relating to all prior VWAP Purchase Notices required
to have been issued to the Investor as DWAC Shares under this Agreement prior to the applicable VWAP Purchase Condition Satisfaction Time
for the applicable VWAP Purchase shall have been issued to the Investor as DWAC Shares in accordance with this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(x)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Bring-Down Opinions of Counsel, Bring-Down Comfort Letter and Compliance Certificates</U></B>. The Investor shall have received
(a) all Bring-Down Opinions which the Company was obligated to instruct its outside counsel to deliver prior to the applicable VWAP Purchase
Condition Satisfaction Time for the applicable VWAP Purchase, (b) all Bring-Down Opinions from its outside counsel prior to the applicable
VWAP Purchase Condition Satisfaction Time for the applicable VWAP Purchase (c) a Bring-Down Comfort Letter which the Company was obligated
to instruct the Accountant to deliver prior to the applicable VWAP Purchase Condition Satisfaction Time for the applicable VWAP Purchase
and (d) all Compliance Certificates which the Company was obligated to deliver to the Investor prior to the applicable VWAP Purchase
Condition Satisfaction Time for the applicable VWAP Purchase, in each case in accordance with Section 6.16. <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notwithstanding
the foregoing, the Company shall not be obligated to deliver such documents in accordance with (a), (b), (c) and (d) contained in this
Section 7.3(x) more than once per calendar quarter in accordance with Section 6.16.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(xi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Material Non-Public Information</U></B>. Neither the Company nor, in the Investor&rsquo;s sole discretion, the Investor,
shall be in possession of any material non-public information concerning the Company.</P>

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

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
VIII<U><BR>
TERMINATION</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 8.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Automatic Termination</U></FONT></B>. Unless earlier terminated as provided hereunder, this
Agreement shall terminate automatically on the earliest to occur of (i) the first day of the month next following the date that is 36
months after the Effective Date of the Initial Registration Statement, (ii) the date on which the Investor shall have purchased the Total
Commitment worth of Shares pursuant to this Agreement, (iii) the date on which the Shares shall have failed to be listed or quoted on
the Principal Market or any other Principal Market, and (iv) the date on which, pursuant to or within the meaning of any Bankruptcy Law,
the Company commences a voluntary case or any Person commences a proceeding against the Company, a Custodian is appointed for the Company
or for all or substantially all of its property, or the Company makes a general assignment for the benefit of its creditors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 8.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Other Termination</U></FONT></B>. Subject to Section 8.3, the Company may terminate this
Agreement after the Commencement Date effective upon three (3) Trading Days&rsquo; prior written notice to the Investor in accordance
with Section 10.4; <U>provided</U>, <U>however</U>, that prior to issuing any press release, or making any public statement or announcement,
with respect to such termination, the Company shall consult with the Investor and its counsel on the form and substance of such press
release or other disclosure. Subject to Section 8.3, this Agreement may be terminated at any time by the mutual written consent of the
parties, effective as of the date of such mutual written consent unless otherwise provided in such written consent. Subject to Section
8.3, the Investor shall have the right to terminate this Agreement effective upon three (3) Trading Days&rsquo; prior written notice to
the Company, which notice shall be made in accordance with Section 10.4 of this Agreement, if: (a) any condition, occurrence, state of
facts or event constituting a Material Adverse Effect has occurred and is continuing; (b) a Fundamental Transaction shall have occurred;
(c) the Company is in breach or default in any material respect of any of its covenants and agreements in the Registration Rights Agreement,
and, if such breach or default is capable of being cured, such breach or default is not cured within fifteen (15) Trading Days after notice
of such breach or default is delivered to the Company pursuant to Section 10.4 of this Agreement; (d) while a Registration Statement,
or any post-effective amendment thereto, is required to be maintained effective pursuant to the terms of the Registration Rights Agreement
and the Investor holds any Registrable Securities, the effectiveness of such Registration Statement, or any post-effective amendment thereto,
lapses for any reason (including, without limitation, the issuance of a stop order by the Commission) or such Registration Statement or
any post-effective amendment thereto, the Prospectus contained therein or any Prospectus Supplement thereto otherwise becomes unavailable
to the Investor for the resale of all of the Registrable Securities included therein in accordance with the terms of the Registration
Rights Agreement, and such lapse or unavailability continues for a period of sixty (60) consecutive Trading Days or for more than an aggregate
of ninety (90) Trading Days in any three hundred and sixty-five (365)-day period, other than due to acts of the Investor; (e) trading
in the Shares on the Principal Market shall have been suspended and such suspension continues for a period of five (5) consecutive Trading
Days; or (f) the Company is in material breach or default of any of its covenants and agreements contained in this Agreement, and, if
such breach or default is capable of being cured, such breach or default is not cured within fifteen (15) Trading Days after notice of
such breach or default is delivered to the Company pursuant to Section 10.4 of this Agreement. Unless notification thereof is required
elsewhere in this Agreement (in which case such notification shall be provided in accordance with such other provision), the Company shall
promptly (but in no event later than twenty-four (24) hours) notify the Investor (and, if required under applicable law, including, without
limitation, Regulation FD promulgated by the Commission, or under the applicable rules and regulations of the Principal Market, the Company
shall publicly disclose such information in accordance with Regulation FD, if applicable, and the applicable rules and regulations of
the Principal Market upon becoming aware of any of the events set forth in the immediately preceding sentence.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 8.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Effect of Termination</U></FONT></B>. In the event of termination by the Company or the Investor
(other than by mutual termination) pursuant to Section 8.2, written notice thereof shall forthwith be given to the other party as provided
in Section 10.4 and the transactions contemplated by this Agreement shall be terminated without further action by either party. If this
Agreement is terminated as provided in Section 8.1 or Section 8.2, this Agreement shall become void and of no further force and effect,
except that (i) the provisions of Article IX (Indemnification), Article X (Miscellaneous) and this Article VIII (Termination) shall remain
in full force and effect indefinitely notwithstanding such termination, and, (ii) so long as the Investor owns any Shares, the covenants
and agreements of the Company contained in Article V (Representations, Warranties and Covenants of the Company) and Article VI (Additional
Covenants) shall remain in full force and notwithstanding such termination for a period of thirty (30) days following such termination.
Notwithstanding anything in this Agreement to the contrary, no termination of this Agreement by any party shall (i) become effective prior
to the second (2nd) Trading Day immediately following the date on which the purchase of Shares by the Investor pursuant to any pending
VWAP Purchase has been fully settled, including, without limitation, the issuance by the Company to the Investor of all Shares purchased
by the Investor pursuant to such pending VWAP Purchase as DWAC Shares on the applicable VWAP Purchase Share Delivery Date therefor, and
the delivery by the Investor to the Company of the aggregate VWAP Purchase Price payable by the Investor for such Shares, in each case
in accordance with the settlement procedures set forth in Section 3.2 of this Agreement (it being hereby acknowledged and agreed that
no termination of this Agreement shall limit, alter, modify, change or otherwise affect any of the Company&rsquo;s or the Investor&rsquo;s
rights or obligations under the Transaction Documents with respect to any pending VWAP Purchase that has not fully settled, and that the
parties shall fully perform their respective obligations with respect to any such pending VWAP Purchase under the Transaction Documents)
or (ii) limit, alter, modify, change or otherwise affect the Company&rsquo;s or the Investor&rsquo;s rights or obligations under the Registration
Rights Agreement, all of which shall survive any such termination. Nothing in this Section 8.3 shall be deemed to release the Company
or the Investor from any liability for any breach or default under this Agreement, the Registration Rights Agreement or any of the other
Transaction Documents to which it is a party, or to impair the rights of the Company and the Investor to compel specific performance by
the other party of its obligations under this Agreement, the Registration Rights Agreement or any of the other Transaction Documents to
which it is a party.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 9.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Indemnification of Investor</U></FONT></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In consideration of the Investor&rsquo;s execution and delivery of this Agreement and acquiring the Shares hereunder and in addition
to all of the Company&rsquo;s other obligations under the Transaction Documents to which it is a party, subject to the provisions of this
Section 9.1, the Company shall indemnify and hold harmless the Investor, its Affiliates, each of their respective directors, officers,
shareholders, members, partners, employees, representatives and agents (and any other Persons with a functionally equivalent role of a
Person holding such titles notwithstanding the lack of such title or any other title), each Person, if any, who controls the Investor
(within the meaning of Section 15 of the Securities Act or Section 20(a) of the Exchange Act), and the respective directors, officers,
shareholders, members, partners, employees, representatives and agents (and any other Persons with a functionally equivalent role of a
Person holding such titles notwithstanding the lack of such title or any other title) of such controlling Persons (each, an &ldquo;<B><I>Investor
Party</I></B>&rdquo;), from and against all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses (including
all judgments, amounts paid in settlement, court costs, reasonable attorneys&rsquo; fees and costs of defense and investigation) (collectively,
 &ldquo;<B><I>Damages</I></B>&rdquo;) that any Investor Party has suffered or incurred: (i) as a result of, relating to or arising out
of or based upon, any untrue statement or alleged untrue statement of a material fact contained in any Commission Document (or any amendment
thereto), or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements
therein not misleading, or arising out of any untrue statement or alleged untrue statement of a material fact included in any Commission
Document, or the omission or alleged omission therefrom of a material fact necessary in order to make the statements therein, in the light
of the circumstances under which they were made, not misleading; (ii) to the extent of the aggregate amount paid in settlement of (1)
any litigation, or any investigation or proceeding by any Governmental Authority, commenced or threatened, or (2) of any claim whatsoever
based upon any such untrue statement or omission, or any such alleged untrue statement or omission; (iii) in investigating, preparing
or defending against any litigation, or any investigation or proceeding by any Governmental Authority, commenced or threatened, or any
claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission (whether or not a
party), to the extent that any such expense is not paid under (i) or (ii) above; (iv) as a result of, relating to or arising out of any
breach by the Company of its representations, warranties, covenants or agreements under this Agreement; or (v) as a result of, relating
to or arising out of any other action, suit, claim or proceeding against an Investor Party arising out of or otherwise in connection with
the Transaction Documents (except solely to the extent in the case of this subsection (v), to the extent any Damage is determined by a
court of competent jurisdiction, not subject to further appeal, to have resulted primarily and directly from the bad faith, gross negligence,
or willful misconduct of such Investor Party). Notwithstanding anything to the contrary contained therein, the indemnity contained in
this Section 9.1(a) shall not apply to (i) any Damage to the extent arising out of an untrue statement or omission, or alleged untrue
statement or omission in a Commission Document, made in reliance upon and in conformity with information furnished in writing to the Company
by the Investor expressly for use in connection with the preparation of the Registration Statement, Prospectus or Prospectus Supplement
or any such amendment thereof or supplement thereto (it being hereby acknowledged and agreed that the written information set forth on
<U>Exhibit B</U> to the Registration Rights Agreement is the only written information furnished to the Company by or on behalf of the
Investor expressly for use in any Registration Statement, Prospectus or Prospectus Supplement); and (ii) amounts paid in settlement of
any Damage if such settlement is effected without the prior written consent of the Company, which consent shall not be unreasonably withheld
or delayed.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall reimburse any Investor Party promptly upon demand (with accompanying presentation of documentary evidence) for
all legal and other costs and expenses reasonably incurred by such Investor Party in connection with investigating or defending (i) any
action, suit, claim or proceeding, whether at law or in equity, to enforce compliance by the Company with any provision of the Transaction
Documents or (ii) any other action, suit, claim or proceeding, whether at law or in equity, with respect to which it is entitled to indemnification
under this Section 9.1; <U>provided</U> that the Investor shall promptly reimburse the Company for all such legal and other costs and
expenses to the extent a court of competent jurisdiction determines through a final, non-appealable determination that any Investor Party
was not entitled to such reimbursement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>To the extent that the foregoing undertakings by the Company set forth in this Section 9.1 may be unenforceable for any reason,
the Company shall make the maximum contribution to the payment and satisfaction of each of the Damages which is permissible under applicable
law, provided that in no event shall the Investor be obligated to contribute any amount in excess of the fees it actually received pursuant
to this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 9.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Indemnification Procedures</U></FONT></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Promptly after an Investor Party receives notice of a claim or the commencement of an action for which the Investor Party intends
to seek indemnification under Section 9.1, the Investor Party will notify the Company in writing of the claim or commencement of the action,
suit or proceeding; <U>provided</U>, <U>however</U>, that failure to notify the Company will not relieve the Company from liability under
Section 9.1, unless and solely to the extent it has been materially prejudiced by the failure to give such notice as evidenced by the
forfeiture by the Company of substantive rights or defenses. The Company will be entitled to participate in the defense of any claim,
action, suit or proceeding as to which indemnification is being sought, and if the Company acknowledges in writing the obligation to indemnify
the Investor Party against whom the claim or action is brought, the Company may (but will not be required to) assume the defense against
the claim, action, suit or proceeding with counsel satisfactory to it. After the Company notifies the Investor Party that the Company
wishes to assume the defense of a claim, action, suit or proceeding, the Company will not be liable for any further legal or other expenses
incurred by the Investor Party in connection with the defense against the claim, action, suit or proceeding unless (1) the employment
of counsel by the Investor Party has been authorized in writing by the Company, (2) the Investor Party has reasonably concluded (based
on advice of counsel) that there may be legal defenses available to it or another Investor Party that are different from or in addition
to those available to the Company, (3) a conflict or potential conflict exists (based on advice of counsel to the Investor Party) between
an Investor Party and the Company (in which case the Company will not have the right to direct the defense of such action on behalf of
the indemnified party) or (4) the Company has not in fact employed counsel to assume the defense of such action or counsel reasonably
satisfactory to the indemnified party, in each case, within a reasonable time after receiving notice of the commencement of the action;
in each of which cases the reasonable fees, disbursements and other charges of counsel will be at the expense of the Company. It is understood
that the Company shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable
fees, disbursements and other charges of more than one separate firm (plus local counsel) admitted to practice in such jurisdiction at
any one time for all such similarly situated Investor Parties. The Company will not be liable for any settlement of any action effected
without its prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned. The Company shall not, without
the prior written consent of each indemnified party, settle or compromise or consent to the entry of any judgment in any pending or threatened
claim, action or proceeding relating to the matters contemplated by this section (whether or not any indemnified party is a party thereto),
unless such settlement, compromise or consent (1) includes an express and unconditional release of each indemnified party, in form and
substance reasonably satisfactory to such indemnified party, from all liability arising out of such litigation, investigation, proceeding
or claim and (2) does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified
party.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In order to provide for just and equitable contribution in circumstances in which the indemnification provided for in the foregoing
paragraphs of this Article IX for any reason is held to be unavailable or insufficient to hold an Investor Party harmless, the Company
and the Investor Party will contribute to the total losses, claims, liabilities, expenses and damages (including any investigative, legal
and other expenses reasonably incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding or any
claim asserted) to which the Company and the Investor Party may be subject in such proportion as shall be appropriate to reflect the relative
benefits received by the Company on the one hand and the Investor on the other hand. The relative benefits received by the Company on
the one hand and the Investor Party on the other hand shall be deemed to be in the same proportion as the total net proceeds from the
aggregate of all VWAP Purchase Amounts (before deducting expenses) received by the Company bear to the total aggregate discount to the
VWAP Purchase Price received by the Investor pursuant to this Agreement. If, but only if, the allocation provided by the foregoing sentence
is not permitted by applicable law, the allocation of contribution shall be made in such proportion as is appropriate to reflect not only
the relative benefits referred to in the foregoing sentence but also the relative fault of the Company, on the one hand, and the Investor,
on the other hand, with respect to the statements or omission that resulted in such loss, claim, liability, expense or damage, or action
in respect thereof, as well as any other relevant equitable considerations with respect to such offering. Such relative fault shall be
determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged
omission to state a material fact relates to information supplied by the Company or the Investor Party, the intent of the parties and
their relative knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the
Investor Party agree that it would not be just and equitable if contributions pursuant to this Section 9.2(b) were to be determined by
pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to herein.
The amount paid or payable by an indemnified party as a result of the loss, claim, liability, expense, or damage, or action in respect
thereof, referred to above in this Section 9.2(b) shall be deemed to include, for the purpose of this Section 9.2(b), any legal or other
expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim to the extent
consistent with Section 9.2(a) hereof. Notwithstanding the foregoing provisions of this Section 9.2(b), the Investor shall not be required
to contribute any amount in excess of the aggregate discount to the VWAP Purchase Price under this Agreement and no person found guilty
of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any
person who was not guilty of such fraudulent misrepresentation. For purposes of this Section 9.2(b), any person who controls a party to
this Agreement within the meaning of the Securities Act, any Affiliates of the Investor Party and any officers, directors, partners, employees
or agents of the Investor Party or any of its Affiliates, will have the same rights to contribution as that party, and each director of
the Company and each officer of the Company who signed the Registration Statement will have the same rights to contribution as the Company,
subject in each case to the provisions hereof. Any party entitled to contribution, promptly after receipt of notice of commencement of
any action against such party in respect of which a claim for contribution may be made under this Section 9.2(b), will notify any such
party or parties from whom contribution may be sought, but the omission to so notify will not relieve that party or parties from whom
contribution may be sought from any other obligation it or they may have under this Section 9.2(b) except to the extent that the failure
to so notify such other party materially prejudiced the substantive rights or defenses of the party from whom contribution is sought.
No party will be liable for contribution with respect to any action or claim settled without its written consent if such consent is required
pursuant to Section 9.2(a) hereof.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The remedies provided for in this Article IX are not exclusive and
shall not limit any rights or remedies which may otherwise be available to any Investor Party at law or in equity.</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; text-transform: uppercase; text-align: center; text-indent: 0in">Article
X<U><BR>
MISCELLANEOUS</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 10.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Certain Fees and Expenses</U></FONT><U>.</U></B> Each party shall bear its own fees and expenses
related to the transactions contemplated by this Agreement except that the Company will reimburse the fees and disbursements of legal
counsel to the Investor in an amount not to exceed $75,000 in connection with the entry into this Agreement. The Company shall pay all
U.S. federal, state and local stamp and other similar transfer and other taxes and duties levied in connection with issuance of the Shares
pursuant hereto. For the avoidance of doubt, this Section 10.1 shall not be construed to limit the amount of Damages to which any Investor
Party may be entitled to under Section 9 of this Agreement or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 10.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Specific Enforcement, Consent to Jurisdiction, Waiver of Jury Trial</U></FONT></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company and the Investor acknowledge and agree that irreparable damage would occur in the event that any of the provisions
of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that
either party shall be entitled to an injunction or injunctions to prevent or cure breaches of the provisions of this Agreement by the
other party and to enforce specifically the terms and provisions hereof (without the necessity of showing economic loss and without any
bond or other security being required), this being in addition to any other remedy to which either party may be entitled by law or equity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each of the Company and the Investor (a) hereby irrevocably submits to the jurisdiction of the courts of the State of New York
located in the county of New York or in the United States District Court for the Southern District of New York in New York county for
the purposes of any suit, action or proceeding arising out of or relating to this Agreement, and (b) hereby waives, and agrees not to
assert in any such suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of such court, that the
suit, action or proceeding is brought in an inconvenient forum or that the venue of the suit, action or proceeding is improper. Each of
the Company and the Investor consents to process being served in any such suit, action or proceeding by mailing a copy thereof to such
party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient
service of process and notice thereof. The Company hereby appoints, without power of revocation, Cogency Global Inc. as its agent to accept
and acknowledge on its behalf service of any and all process which may be served in any proceeding arising out of or relating to this
Agreement. Nothing in this Section 10.2 shall affect or limit any right to serve process in any other manner permitted by law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>EACH OF THE COMPANY AND THE INVESTOR HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO
A TRIAL BY JURY IN RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY OR DISPUTES RELATING HERETO. EACH OF THE COMPANY AND THE INVESTOR (A) CERTIFIES THAT NO REPRESENTATIVE,
AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION,
SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE ENTERED INTO THIS AGREEMENT BY, AMONG
OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.2.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 10.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Entire Agreement</U></FONT></B>. The Transaction Documents set forth the entire agreement
and understanding of the parties with respect to the subject matter hereof and supersede all prior and contemporaneous agreements, negotiations
and understandings between the parties, both oral and written, with respect to such matters. There are no promises, undertakings, representations
or warranties by either party relative to subject matter hereof not expressly set forth in the Transaction Documents. All exhibits to
this Agreement are hereby incorporated by reference in, and made a part of, this Agreement as if set forth in full herein.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 10.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Notices</U></FONT></B>. Any notice, demand, request, waiver or other communication required
or permitted to be given hereunder shall be in writing and shall be effective (a) upon hand delivery or electronic mail delivery at the
address or number designated below (if delivered on a business day during normal business hours where such notice is to be received),
or the first business day following such delivery (if delivered other than on a business day during normal business hours where such notice
is to be received) or (b) on the second business day following the date of mailing by express courier service, fully prepaid, addressed
to such address, or upon actual receipt of such mailing, whichever shall first occur. The address for such communications shall be:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">If to the Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">Vertical Aerospace Ltd.<BR>
Unit 1 Camwal Court,<BR>
Chapel Street<BR>
Bristol BS2 0UW<BR>
United Kingdom<BR>
Attn: General Counsel<BR>
Email: #######@########.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">With a copy (which shall not constitute notice) to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">Latham &amp; Watkins (London) LLP<BR>
99 Bishopsgate, London, EC2M 3XF, United Kingdom<BR>
Attn: Robbie McLaren; J. David Stewart<BR>
Email: <U>##########@#####</U>; ##########@#####</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">If to the Investor:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">Nomura Securities International, Inc.<BR>
309 West 49th Street<BR>
New York, New York 10019<BR>
Attn: James Chenard<BR>
Email: #######@#######</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">With a copy (which shall not constitute notice) to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">Winston &amp; Strawn LLP<BR>
200 Park Avenue<BR>
New York, NY 10166-4193<BR>
Attn: David Sakowitz; Paul Amiss<BR>
Email: <U>########@########</U>; <U>#######@########</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Either party hereto may from time to time
change its address for notices by giving at least five (5) days&rsquo; advance written notice of such changed address to the other party
hereto.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 10.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Waivers</U></FONT></B>. No provision of this Agreement may be waived by the parties from
and after the date that is one (1) Trading Day immediately preceding the filing of the Initial Registration Statement with the Commission.
Subject to the immediately preceding sentence, no provision of this Agreement may be waived other than in a written instrument signed
by the party against whom enforcement of such waiver is sought. No failure or delay in the exercise of any power, right or privilege hereunder
shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further
exercises thereof or of any other right, power or privilege.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 10.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Amendments</U></FONT></B>. No provision of this Agreement may be amended by the parties from
and after the date that is one (1) Trading Day immediately preceding the filing of the Initial Registration Statement with the Commission.
Subject to the immediately preceding sentence, no provision of this Agreement may be amended other than by a written instrument signed
by both parties hereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 10.7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Headings</U></FONT></B>. The article, section and subsection headings in this Agreement are
for convenience only and shall not constitute a part of this Agreement for any other purpose and shall not be deemed to limit or affect
any of the provisions hereof. Unless the context clearly indicates otherwise, each pronoun herein shall be deemed to include the masculine,
feminine, neuter, singular and plural forms thereof. The terms &ldquo;including,&rdquo; &ldquo;includes,&rdquo; &ldquo;include&rdquo;
and words of like import shall be construed broadly as if followed by the words &ldquo;without limitation.&rdquo; The terms &ldquo;herein,&rdquo;
 &ldquo;hereunder,&rdquo; &ldquo;hereof&rdquo; and words of like import refer to this entire Agreement instead of just the provision in
which they are found.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 10.8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Construction</U></FONT></B>. The parties agree that each of them and their respective counsel
has reviewed and had an opportunity to revise the Transaction Documents and, therefore, the normal rule of construction to the effect
that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of the Transaction Documents.
In addition, each and every reference to share prices and number of Shares in any Transaction Document shall, in all cases, be subject
to adjustment for any <FONT STYLE="background-color: white">share subdivisions, share capitalizations, reorganizations, recapitalizations,
exchange and</FONT> other similar transactions that occur on or after the date of this Agreement. Any reference in this Agreement to &ldquo;Dollars&rdquo;
or &ldquo;$&rdquo; shall mean the lawful currency of the United States of America. Any references to &ldquo;Section&rdquo; or &ldquo;Article&rdquo;
in this Agreement shall, unless otherwise expressly stated herein, refer to the applicable Section or Article of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 10.9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="text-transform: none"><U>Binding Effect</U></FONT></B>. This Agreement shall be binding upon and inure to the benefit
of the parties hereto and their respective successors. Neither the Company nor the Investor may assign this Agreement or any of their
respective rights or obligations hereunder to any Person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 10.10. <FONT STYLE="text-transform: none"><U>No
Third-Party Beneficiaries</U></FONT></B>. Except as expressly provided in Article IX, this Agreement is intended only for the benefit
of the parties hereto and their respective successors, and is not for the benefit of, nor may any provision hereof be enforced by, any
other Person.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 10.11. <FONT STYLE="text-transform: none"><U>Governing
Law</U></FONT></B>. This Agreement shall be governed by and construed in accordance with the internal procedural and substantive laws
of the State of New York, without giving effect to the choice of law provisions of such state that would cause the application of the
laws of any other jurisdiction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 10.12. <FONT STYLE="text-transform: none"><U>Survival</U></FONT></B>.
The representations, warranties, covenants and agreements of the Company and the Investor contained in this Agreement shall survive the
execution and delivery hereof until the termination of this Agreement; <U>provided</U>, <U>however</U>, that (i) the provisions of Article
VIII (Termination), Article IX (Indemnification) and this Article X (Miscellaneous) shall remain in full force and effect indefinitely
notwithstanding such termination, and, (ii) so long as the Investor owns any Shares, the covenants and agreements of the Company and the
Investor contained in Article VI (Additional Covenants), shall remain in full force and effect notwithstanding such termination for a
period of thirty (30) days following such termination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 10.13. <FONT STYLE="text-transform: none"><U>Counterparts</U></FONT></B>.
This Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and
shall become effective when counterparts have been signed by each party and delivered to the other party; <U>provided</U> that a facsimile
signature or signature delivered by e mail in a &ldquo;.pdf&rdquo; format data file, including any electronic signature complying with
the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com, www.echosign.adobe.com, etc., shall be considered due execution and shall
be binding upon the signatory thereto with the same force and effect as if the signature were an original signature.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 10.14. <FONT STYLE="text-transform: none"><U>Publicity</U></FONT></B>.
The Company shall afford the Investor and its counsel a reasonable opportunity to review and comment upon, shall consult with the Investor
and its counsel on the form and substance of, and shall give due consideration to all such comments from the Investor or its counsel on,
any press release, Commission filing or any other public disclosure made by or on behalf of the Company relating to the Investor, its
purchases hereunder or any aspect of the Transaction Documents or the transactions contemplated thereby, prior to the issuance, filing
or public disclosure thereof. For the avoidance of doubt, the Company shall not be required to submit for review any such disclosure (i)
contained in periodic reports filed with the Commission under the Exchange Act if it shall have previously provided the same disclosure
to the Investor or its counsel for review in connection with a previous filing or (ii) any Prospectus Supplement if it contains disclosure
that does not reference the Investor, its purchases hereunder or any aspect of the Transaction Documents or the transactions contemplated
thereby.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 10.15. <FONT STYLE="text-transform: none"><U>Severability</U></FONT></B>.
The provisions of this Agreement are severable and, in the event that any court of competent jurisdiction shall determine that any one
or more of the provisions or part of the provisions contained in this Agreement shall, for any reason, be held to be invalid, illegal
or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision or part of a provision
of this Agreement, and this Agreement shall be reformed and construed as if such invalid or illegal or unenforceable provision, or part
of such provision, had never been contained herein, so that such provisions would be valid, legal and enforceable to the maximum extent
possible.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 10.16. <FONT STYLE="text-transform: none"><U>Further
Assurances</U></FONT></B>. From and after the Closing Date, upon the request of the Investor or the Company, each of the Company and the
Investor shall execute and deliver such instrument, documents and other writings as may be reasonably necessary or desirable to confirm
and carry out and to effectuate fully the intent and purposes of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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"><B>IN WITNESS WHEREOF</B>, the parties hereto have
caused this Agreement to be duly executed by their respective authorized officer as of the date first above written.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>Vertical Aerospace Ltd.</B></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/ Vincent Casey</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Name:&nbsp;&nbsp;Vincent Casey</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title: &nbsp;&nbsp;&nbsp;Chief Financial Officer</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">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>Nomura Securities International, Inc.</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Paul Robinson</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Name:&nbsp;&nbsp;&nbsp;Paul Robinson</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title: &nbsp;&nbsp;&nbsp;&nbsp;Managing Director</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">[<I>Signature Page to Equity
Line Agreement</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>

<!-- Field: Page; Sequence: 57 -->
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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: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">ANNEX I TO THE<BR>
SHARE PURCHASE AGREEMENT</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>DEFINITIONS</U></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-indent: 0.5in">&ldquo;<B><I>Accountant</I></B>&rdquo; means the
meaning assigned to it in Section 7.2 of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Affiliate</I></B>&rdquo; means any
Person that, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with a
Person, as such terms are used in and construed under Rule 144.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Bankruptcy Law</I></B>&rdquo; means
Title 11, U.S. Code, or any similar U.S. federal or state law for the relief of debtors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Bloomberg</I></B>&rdquo; means Bloomberg,
L.P.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Business Data</I></B>&rdquo; means
all business information and data, including Personal Information (whether of employees, contractors, consultants, customers, consumers,
or other persons and whether in electronic or any other form or medium) that is accessed, collected, used, stored, shared, distributed,
transferred, disclosed, destroyed, disposed of or otherwise processed by any of the Business Systems or otherwise in the course of the
conduct of the business of the Company and its Subsidiaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Business Systems</I></B>&rdquo; means
all software, computer hardware (whether general or special purpose), electronic data processors, databases, communications, telecommunications,
networks, interfaces, platforms, servers, peripherals, and computer systems, including any outsourced systems and processes, that are
owned or used in the conduct of the business of the Company and its Subsidiaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Closing Date</I></B>&rdquo; means
the date of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Closing Sale Price</I></B>&rdquo;
means, for the Shares as of any date, the last closing trade price for the Shares on the Principal Market, as reported by Bloomberg, or,
if the Principal Market begins to operate on an extended hours basis and does not designate the closing trade price for the Shares, then
the last trade price for the Shares prior to 4:00 p.m., New York City time, as reported by Bloomberg. All such determinations shall be
appropriately adjusted for any <FONT STYLE="background-color: white">share subdivision, share capitalization, reorganization, recapitalization,
exchange</FONT> or similar event during such period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Commission</I></B>&rdquo; means the
U.S. Securities and Exchange Commission or any successor entity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Commission Documents</I></B>&rdquo;
means (1) the Company&rsquo;s registration statement on Form F-4 (File No. 333-247785), as amended, initially filed with the Commission
on July 9, 2021, including any related prospectus or prospectuses, for the registration of the Shares issued pursuant to the business
combination agreement and plan of merger by and among the Company, Broadstone Acquisition Corp. and the other parties thereto, on file
with the Commission at the time such registration statement became effective, including the financial statements, schedules, exhibits
and all other documents filed as a part thereof or incorporated therein and all information deemed to be a part thereof as of the effective
date of such registration statement under the Securities Act, (2) the proxy statement/prospectus, dated December 1, 2021, including all
documents incorporated or deemed incorporated therein by reference, included in the Registration Statement, as it may be supplemented,
in the form in which such proxy statement/prospectus has most recently been filed with the Commission pursuant to Rule 424(b) under the
Securities Act, (3) the Company&rsquo;s registration statement on Form F-1 (File No. 333- 262207), as amended, initially filed with the
Commission on January 18, 2022 including any related prospectus or prospectuses and the Company&rsquo;s registration statement on Form
F-1 (File No. 333-264601) initially filed with the Commission on May 2, 2022, including any related prospectus or prospectuses, (4) all
reports, schedules, registrations, forms, statements, information and other documents filed with or furnished to the Commission by the
Company pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act since December 16, 2021, including, without limitation, the
Current Report (as defined in Section 2.3 of this Agreement) and the Company&rsquo;s Annual Report on Form 20-F filed with the Commission
on April 29, 2022, (5) each Registration Statement, as the same may be amended from time to time, the Prospectus contained therein and
each Prospectus Supplement thereto and (6) all information contained in such filings and all documents and disclosures that have been
and heretofore shall be incorporated by reference therein.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Contract</I></B>&rdquo; means any
written or oral legally binding contract, agreement, understanding, arrangement, subcontract, loan or credit agreement, note, bond, indenture,
mortgage, purchase order, deed of trust, lease, sublease, instrument, or other legally binding commitment, obligation or undertaking.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Custodian</I></B>&rdquo; means any
receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>DTC</I></B>&rdquo; means The Depository
Trust Company, a subsidiary of The Depository Trust &amp; Clearing Corporation, or any successor thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>DWAC</I></B>&rdquo; means DTC&rsquo;s
 &ldquo;Deposit/Withdrawal at Custodian&rdquo; delivery system.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>DWAC Shares</I></B>&rdquo; means Shares
issued pursuant to this Agreement that are (i) issued in electronic form, (ii) freely tradable and transferable and without restriction
on resale and without stop transfer instructions maintained against the transfer thereof and (iii) timely credited by the Company to the
Investor&rsquo;s or its designated Broker-Dealer at which the account or accounts to be credited with the Shares being purchased by Investor
are maintained specified DWAC account with DTC under its Fast Automated Securities Transfer (FAST) Program, or any similar program hereafter
adopted by DTC performing substantially the same function.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>EDGAR</I></B>&rdquo; means the Commission&rsquo;s
Electronic Data Gathering, Analysis and Retrieval System.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Effective Date</I></B>&rdquo; means,
with respect to the Initial Registration Statement filed pursuant to Section 2(a) of the Registration Rights Agreement (or any post-effective
amendment thereto) or any New Registration Statement filed pursuant to Section 2(c) of the Registration Rights Agreement (or any post-effective
amendment thereto), as applicable, the date on which the Initial Registration Statement (or any post-effective amendment thereto) or any
New Registration Statement (or any post-effective amendment thereto) becomes effective.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Environmental Law</I></B>&rdquo; means
any statute, law, ordinance, regulation, rule or code concerning or relating to: (i) the protection of the environment or natural resources
or, as such relates to exposure to hazardous materials, human health and safety (including workplace and industrial hygiene); (ii) the
presence, release, generation, use, management, handling, transportation, treatment, storage or disposal of hazardous materials; (iii)
noise or odor including, without limitation, in the United States, the Comprehensive Environmental Response, Compensation, and Liability
Act, 42 U.S.C. 9601, et seq.; the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act of 1976, 42 U.S.C.
6901, et seq.; the Toxic Substances Control Act, 15 U.S.C. 2601, et seq.; the Federal Water Pollution Control Act, 33 U.S.C. 1251, et
seq.; the Hazardous Materials Transportation Act, 49 U.S.C. 5101; the Safe Drinking Water Act, 42 U.S.C. 300f, et seq.; as it relates
to exposure to hazardous materials, the Occupational Safety and Health Act, 29 U.S.C. 651, et seq.; the Emergency Planning and Community
Right to Know Act of 1986, 42 U.S.C. 11001, et seq.; the Atomic Energy Act, 42 U.S.C. 2014, et seq.; the Endangered Species Act, 16 U.S.C.
1531, et seq.; the Federal Insecticide, Fungicide, and Rodenticide Act, 7 U.S.C. 136, et seq.; the Clean Air Act, 42 U.S.C. 7401, et seq.;
and the foreign, state and local analogues of each of the foregoing federal statutes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Exchange Act</I></B>&rdquo; means
the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Exempt Issuance</I></B>&rdquo; means
the issuance of (a) Shares, options or other equity incentive awards to employees, officers, directors or vendors of the Company pursuant
to any equity incentive plan duly adopted for such purpose, by the Company&rsquo;s Board of Directors or a majority of the members of
a committee of the Board of Directors established for such purpose, (b) (1) any Shares issued to the Investor pursuant to this Agreement,
(2) any securities issued upon the exercise or exchange of or conversion of any Shares or Shares Equivalents held by the Investor at any
time, or (3) any securities issued upon the exercise or exchange of or conversion of any Shares Equivalents issued and outstanding on
the date of this Agreement; <U>provided</U> that except as set forth in any agreement applicable to such Share Equivalents and as disclosed
in the Commission Documents, such securities referred to in this clause (3) have not been amended since the date of this Agreement to
increase the number of such securities or to decrease the exercise price, exchange price or conversion price of such securities, (c) securities
issued pursuant to acquisitions, divestitures, licenses, partnerships, collaborations or strategic transactions approved by the Company&rsquo;s
Board of Directors or a majority of the members of a committee of directors established for such purpose, which acquisitions, divestitures,
licenses, partnerships, collaborations or strategic transactions can have a Variable Rate Transaction component, provided that any such
issuance shall only be to a Person (or to the equity holders of a Person) which is, itself or through its subsidiaries, an operating company
or an asset in a business synergistic with the business of the Company and shall provide to the Company additional benefits in addition
to the investment of funds, but shall not include a transaction in which the Company is issuing securities primarily for the purpose of
raising capital or to an entity whose primary business is investing in securities, (d) Shares issued by the Company to the Investor or
an Affiliate of the Investor in connection with any &ldquo;equity line of credit&rdquo; or other continuous offering or similar offering
of Shares pursuant to a written agreement between the Company and the Investor or an Affiliate of the Investor, whereby the Company may
sell Shares to the Investor or an Affiliate of the Investor at a future determined price or (e) Shares issued by the Company by any method
deemed to be an &ldquo;at the market offering&rdquo; as defined in Rule 415(a)(4) under the Securities Act, exclusively to or through
Nomura, as the Company&rsquo;s sales agent, pursuant to one or more written agreements between the Company and Nomura.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>FINRA</I></B>&rdquo; means the Financial
Industry Regulatory Authority.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Floor Price</I></B>&rdquo; means that,
notwithstanding the VWAP Purchase Price for a particular VWAP Purchase Date, the Company has the option to set a floor price, expressed
a fixed price as set out by the Company in any VWAP Purchase Notice delivered to Investor. The Floor Price will be set forth in the VWAP
Purchase Notice delivered by the Company to the Investor in substantially the form attached hereto as <U>Exhibit D</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Fundamental Transaction</I></B>&rdquo;
means that (i) the Company shall, directly or indirectly, in one or more related transactions, (1) consolidate or merge with or into (whether
or not the Company is the surviving corporation) another Person, with the result that the holders of the Company&rsquo;s shares immediately
prior to such consolidation or merger together beneficially own less than 50% of the outstanding voting power of the surviving or resulting
corporation, or (2) sell, lease, license, assign, transfer, convey or otherwise dispose of all or substantially all of the properties
or assets of the Company to another Person, or (3) take action to facilitate a purchase, tender or exchange offer by another Person that
is accepted by the holders of more than 50% of the outstanding Shares (excluding any Shares held by the Person or Persons making or party
to, or associated or affiliated with the Persons making or party to, such purchase, tender or exchange offer), or (4) consummate a share
purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme
of arrangement) with another Person whereby such other Person acquires more than 50% of the outstanding Shares (not including any Shares
held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such
share purchase agreement or other business combination), or (5) reorganize, recapitalize or reclassify its Shares, or (ii) any &ldquo;person&rdquo;
or &ldquo;group&rdquo; (as these terms are used for purposes of Sections 13(d) and 14(d) of the Exchange Act) is or shall become the &ldquo;beneficial
owner&rdquo; (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of 50% of the aggregate ordinary voting power
represented by issued and outstanding Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Governmental Authority</I></B>&rdquo;
means (i) any federal, provincial, state, local, municipal, national or international government or governmental authority, regulatory
or administrative agency, governmental commission, department, board, bureau, agency or instrumentality, court, tribunal, arbitrator or
arbitral body (public or private); (ii) any self-regulatory organization; or (iii) any political subdivision of any of the foregoing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Initial Registration Statement</I></B>&rdquo;
shall have the meaning assigned to such term in the Registration Rights Agreement.</P>

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

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

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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Investment Period</I></B>&rdquo; means
the period commencing on the Effective Date of the Initial Registration Statement and expiring on the date this Agreement is terminated
pursuant to Article VIII.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Knowledge</I></B>&rdquo; means the
actual knowledge of the Company&rsquo;s Chief Executive Officer and the Company&rsquo;s Chief Financial Officer, in each case after reasonable
inquiry of all officers, directors and employees of the Company and its Subsidiaries who would reasonably be expected to have knowledge
or information with respect to the matter in question.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Material Contracts</I></B>&rdquo;
means any other Contract that is expressly referred to in or filed or incorporated by reference as an exhibit to a Commission Document
or that, individually or in the aggregate, if terminated or subject to default by a party thereto, would have or would reasonably be expected
to have a Material Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>New Registration Statement</I></B>&rdquo;
shall have the meaning assigned to such term in the Registration Rights Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>PEA Period</I></B>&rdquo; means the
period commencing at 9:30 a.m., New York City time, on the fifth (5th) Trading Day immediately prior to the filing of any post-effective
amendment to the Initial Registration Statement or any New Registration Statement, and ending at 9:30 a.m., New York City time, on the
Trading Day immediately following, the Effective Date of such post-effective amendment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Person</I></B>&rdquo; means any person
or entity, whether a natural person, trustee, corporation, company, partnership, limited partnership, limited liability company, trust,
unincorporated organization, business association, firm, joint venture, governmental agency or authority.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Personal Information</I></B>&rdquo;
means (a) information related to an identified or identifiable individual (e.g., name, address telephone number, email address, financial
account number, government-issued identifier), (b) any other data used or intended to be used or which allows one to identify, contact,
or precisely locate an individual, including any internet protocol address or other persistent identifier, and (c) any other, similar
information or data regulated by Privacy/Data Security Laws.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Privacy/Data Security Laws</I></B>&rdquo;
means all laws governing the receipt, collection, use, storage, processing, sharing, security, disclosure, or transfer of Personal Information
or the security of the Business Systems or Business Data.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Prospectus</I></B>&rdquo; means the
prospectus in the form included in a Registration Statement, as supplemented from time to time by any Prospectus Supplement, including
the documents incorporated by reference therein.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Prospectus Supplement</I></B>&rdquo;
means any prospectus supplement to the Prospectus filed with the Commission from time to time pursuant to Rule 424(b) under the Securities
Act, including the documents incorporated by reference therein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Qualified Independent Underwriter</I></B>&rdquo;
shall have the meaning assigned to such term in FINRA Rule 5121(f)(12).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Registrable Securities</I></B>&rdquo;
shall have the meaning assigned to such term in the Registration Rights Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Registration Statement</I></B>&rdquo;
shall have the meaning assigned to such term in the Registration Rights Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Rule 144</I></B>&rdquo; means Rule
144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or
regulation hereafter adopted by the Commission having substantially the same effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Sale Price</I></B>&rdquo; means any
trade price for the Shares on the Principal Market during normal trading hours, as reported by the Principal Market.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Securities Act</I></B>&rdquo; shall
mean the Securities Act of 1933, as amended, and the rules and regulations of the Commission thereunder.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Shares</I></B>&rdquo; shall mean the
Shares that are and/or may be purchased by the Investor under this Agreement pursuant to one or more VWAP Purchase Notices.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Short Sales</I></B>&rdquo; shall mean
 &ldquo;short sales&rdquo; as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Subsidiary</I></B>&rdquo; shall mean
any corporation or other entity of which at least a majority of the securities or other ownership interest having ordinary voting power
for the election of directors or other persons performing similar functions are at the time owned directly or indirectly by the Company
and/or any of its other Subsidiaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Total Commitment</I></B>&rdquo; shall
have the meaning assigned to such term in Section 2.1.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Trading Day</I></B>&rdquo; shall mean
any day on which the Principal Market is open for trading (regular way), including any day on which the Principal Market is open for trading
(regular way) for a period of time less than the customary time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Transaction Documents</I></B>&rdquo;
means, collectively, this Agreement (as qualified by the Commission Documents) and the exhibits hereto, the Registration Rights Agreement
and the exhibits thereto, and each of the other agreements, documents, certificates and instruments entered into or furnished by the parties
hereto in connection with the transactions contemplated hereby and thereby.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Transfer Agent</I></B>&rdquo; shall
mean Continental Stock Transfer &amp; Trust Company or any successor thereof as the Company&rsquo;s transfer agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Variable Rate Transaction</I></B>&rdquo;
means a transaction in which the Company (i) issues or sells any equity or debt securities that are convertible into, exchangeable or
exercisable for, or include the right to receive additional Shares or Shares Equivalents either at a conversion price, exercise price,
exchange rate or other price that is based upon and/or varies with the trading prices of or quotations for the Shares at any time after
the initial issuance of such equity or debt securities, or (ii) issues or sells any equity or debt securities, including without limitation,
Shares or Shares Equivalents, either (A) at a price that is subject to being reset at some future date after the initial issuance of such
debt or equity security or upon the occurrence of specified or contingent events directly or indirectly related to the business of the
Company or the market for the Shares (other than standard anti-dilution protection for any <FONT STYLE="background-color: white">share
subdivision, share capitalization, reorganization, recapitalization, exchange</FONT> or similar event), or (B) that are subject to or
contain any put, call, redemption, buy-back, price-reset or other similar provision or mechanism (including, without limitation, a &ldquo;Black-Scholes&rdquo;
put or call right, other than in connection with a &ldquo;fundamental transaction&rdquo;) that provides for the issuance of additional
equity securities of the Company or the payment of cash by the Company, or (iii) enters into any agreement, including, but not limited
to, an &ldquo;equity line of credit&rdquo; or &ldquo;at the market offering&rdquo; or other continuous offering or similar offering of
Shares or Shares Equivalents, whereby the Company may sell Shares or Shares Equivalents at a future determined price.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>VWAP</I></B>&rdquo; means, for the
Shares for a specified period, the dollar volume-weighted average price for the Shares on the Principal Market for such period, excluding
opening and closing transactions and any block trades, as reported by Bloomberg through its AQR function. All such determinations shall
be appropriately adjusted for any <FONT STYLE="background-color: white">share subdivision, share capitalization, reorganization, recapitalization,
exchange</FONT> or similar event during such period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>VWAP Purchase Commencement Time</I></B>&rdquo;
means, with respect to a VWAP Purchase made pursuant to Section 3.1, 9:30:01 a.m., New York City time, on the applicable VWAP Purchase
Date, or such later time on such VWAP Purchase Date publicly announced by the Principal Market as the official open (or commencement)
of trading (regular way) on the Principal Market on such VWAP Purchase Date; <U>provided</U>, <U>however</U>, that if a VWAP Purchase
Notice is delivered after 9:00 a.m. but (i) prior to 10:00 a.m., or (ii) after 10:00 a.m. but prior to 11:00 a.m., New York City time,
on a VWAP Purchase Date, then the VWAP Purchase Commencement Time for such VWAP Purchase Date shall start at 10:30 a.m. or 11:30 a.m.,
respectively, provided further that in the case of clauses (i) and (ii) the Investor may specify an earlier commencement time by notice
to the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>VWAP Purchase Date</I></B>&rdquo;
means, with respect to a VWAP Purchase made pursuant to Section 3.1, either (i) the Trading Day which immediately follows the date on
which the Investor receives a valid VWAP Purchase Notice for such VWAP Purchase after 5:00 p.m., New York City time, in accordance with
this Agreement, or (ii) the Trading Day on which the Investor receives, after 6:00 a.m., New York City time, but prior to 11:30 a.m.,
New York City time, on such Trading Day, a valid VWAP Purchase Notice for such VWAP Purchase in accordance with this Agreement.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>VWAP Purchase Maximum Amount</I></B>&rdquo;
means, with respect to a VWAP Purchase made pursuant to Section 3.1, a number of Shares equal to the lesser of (i) a number of Shares
which, when aggregated with all other Shares then beneficially owned by the Investor and its Affiliates (as calculated pursuant to Section
13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder), would result in the beneficial ownership by the Investor of more than
the Beneficial Ownership Limitation, (ii) a number of Shares equal to the product of (A) the VWAP Purchase Share Percentage, multiplied
by (B) the total number (or volume) of Shares traded on the relevant Principal Market during the applicable VWAP Purchase Period on the
applicable VWAP Purchase Date for such VWAP Purchase and (iii) 7 million Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>VWAP Purchase Notice</I></B>&rdquo;
means, with respect to a VWAP Purchase made pursuant to Section 3.1, an irrevocable written notice, in substantially the form attached
hereto as <U>Exhibit D</U>, delivered by the Company to the Investor directing the Investor to purchase a VWAP Purchase Share Amount (such
specified VWAP Purchase Share Amount subject to adjustment as set forth in Section 3.1 as necessary to give effect to the VWAP Purchase
Maximum Amount), at the applicable VWAP Purchase Price therefor on the applicable VWAP Purchase Date for such VWAP Purchase in accordance
with this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>VWAP Purchase Period</I></B>&rdquo;
means, with respect to a VWAP Purchase made pursuant to Section 3.1, the period on the applicable VWAP Purchase Date for such VWAP Purchase
beginning at the applicable VWAP Purchase Commencement Time and ending at the applicable VWAP Purchase Termination Time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>VWAP Purchase Price</I></B>&rdquo;
means the purchase price per Share to be purchased by the Investor in such VWAP Purchase on such VWAP Purchase Date equal to 95.75% of
the VWAP over the applicable VWAP Purchase Period on such VWAP Purchase Date for such VWAP Purchase, to be appropriately adjusted for
any <FONT STYLE="background-color: white">share subdivisions, share capitalization, reorganization, recapitalization, exchange</FONT>
or similar event.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>VWAP Purchase Share Amount</I></B>&rdquo;
means, with respect to a VWAP Purchase made pursuant to Section 3.1, the number of Shares to be purchased by the Investor in such VWAP
Purchase as specified by the Company in the applicable VWAP Purchase Notice, which number of Shares shall not exceed the applicable VWAP
Purchase Maximum Amount.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>VWAP Purchase Share Delivery Date</I></B>&rdquo;
means the date upon which the Shares constituting the applicable VWAP Purchase Share Amount purchased by the Investor in each VWAP Purchase
are validly issued to the Investor as DWAC Shares no later than 1:00 p.m., New York City time, on the Trading Day immediately following
the applicable VWAP Purchase Date for such VWAP Purchase.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>VWAP Purchase Share Estimate</I></B>&rdquo;
means the number of Shares constituting a good faith estimate by the Company of the number of Shares that the Investor shall have the
obligation to buy pursuant to the VWAP Purchase Notice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>VWAP Purchase Share Percentage</I></B>&rdquo;
means, with respect to a VWAP Purchase made pursuant to Section 3.1, twenty percent (20%).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>VWAP Purchase Termination Time</I></B>&rdquo;
means, with respect to a VWAP Purchase made pursuant to Section 3.1, 4:00 p.m., New York City time, on the applicable VWAP Purchase Date,
or such earlier time publicly announced by the Principal Market as the official close of trading (regular way) on the Principal Market
on such applicable VWAP Purchase Date; <U>provided</U> that if the VWAP Purchase Share Estimate is less than the VWAP Purchase Maximum
Amount, as defined in clause (ii) of the definition thereof, the Investor shall adjust, in its good faith discretion, the VWAP Purchase
Termination Time, which shall be when the VWAP Purchase Share Estimate is equal to the VWAP Purchase Maximum Amount.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>CLOSING CERTIFICATE</U></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">[&bull;],
202[&bull;]</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 undersigned, the [&bull;]
of Vertical Aerospace Ltd., a Cayman Islands exempted company with limited liability (the &ldquo;<B><I>Company</I></B>&rdquo;), delivers
this certificate in connection with the Share Purchase Agreement, dated as of [&bull;],
2022 (the &ldquo;<B><I>Agreement</I></B>&rdquo;), by and between the Company and Nomura Securities International, Inc., a New York corporation
(the &ldquo;<B><I>Investor</I></B>&rdquo;), and hereby certifies on the date hereof that (capitalized terms used herein without definition
have the meanings assigned to them in the 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">1. Attached hereto as&nbsp;<B>Exhibit A</B>&nbsp;is a true, complete
and correct copy of the Amended and Restated Memorandum and Articles of Association of the Company, as amended through the date hereof,
as filed with the Registrar of Companies of the Cayman Islands (the &ldquo;<B><I>Articles</I></B>&rdquo;). The Articles have not been
further amended or restated, and no document with respect to any amendment to the Articles have been filed with the Registrar of Companies
in the Cayman Islands since the adoption date shown on the face of the Articles, which are in full force and effect on the date hereof,
and no action has been taken by the Company in contemplation of any such amendment or the dissolution, merger or consolidation of the
Company.</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">3. The Board of Directors of the Company has approved the transactions
contemplated by the Transaction Documents; said approval has not been amended, rescinded or modified and remains in full force and effect
as of the date hereof. Attached hereto as&nbsp;<B>Exhibit B</B>&nbsp;are true, correct and complete copies of the resolutions approving
the Agreement duly adopted by the Board of Directors of the Company on [&bull;], 202[&bull;].</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">4. Each person who, as an officer of the Company, or as attorney-in-fact
of an officer of the Company, signed the Transaction Documents to which the Company is a party, was duly appointed and acting as such
officer or attorney-in-fact, and the signature of each such person appearing on any such document is his genuine signature.</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>IN WITNESS WHEREOF</B>, I have signed my name as of the date 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: 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: 50%; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 50%">&nbsp;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">Name:</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-indent: 0.5in"></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 0pt 3.5in; text-indent: 0.5in">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>COMPLIANCE CERTIFICATE</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">The undersigned, the [&bull;] of Vertical Aerospace Ltd., a Cayman
Islands exempted company with limited liability (the &ldquo;<B><I>Company</I></B>&rdquo;), delivers this certificate in connection with
the Share Purchase Agreement, dated as of [&bull;], 2022 (the &ldquo;<B><I>Agreement</I></B>&rdquo;),
by and between the Company and Nomura Securities International, Inc., a New York Corporation (the &ldquo;<B><I>Investor</I></B>&rdquo;),
and hereby certifies on the date hereof that, to the best of his or her knowledge after reasonable investigation, on behalf of the Company
(capitalized terms used herein without definition have the meanings assigned to them in the 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">1. The undersigned is the duly appointed [&bull;]
of the Company.</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">2. Except as set forth in the Commission Documents, the representations
and warranties of the Company set forth in Article V of the Agreement (i) that are not qualified by &ldquo;materiality&rdquo; or &ldquo;Material
Adverse Effect&rdquo; are true and correct in all material respects as of [the Commencement Date] [the date hereof] with the same force
and effect as if made on [the Commencement Date] [the date hereof], except to the extent such representations and warranties are as of
another date, in which case, such representations and warranties are true and correct in all material respects as of such other date and
(ii) that are qualified by &ldquo;materiality&rdquo; or &ldquo;Material Adverse Effect&rdquo; are true and correct as of [the Commencement
Date] [the date hereof] with the same force and effect as if made on [the Commencement Date] [the date hereof], except to the extent such
representations and warranties are as of another date, in which case, such representations and warranties are true and correct as of such
other 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">3. The Company has performed, satisfied and complied in all material
respects with all covenants, agreements and conditions required by the Agreement and the Registration Rights Agreement to be performed,
satisfied or complied with by the Company [at or prior to Commencement] [on or prior to the date hereof].</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">4. The Shares issuable in respect of each VWAP Purchase Notice effected
pursuant to the Agreement shall be issued to the Investor electronically as DWAC Shares, and shall be freely tradable and transferable
and without restriction on resale and without any stop transfer instructions maintained against such Shares.</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">5. As of [the Commencement Date] [the date hereof], the Company does
not possess any material non-public 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">6. As of [the Commencement Date] [the date hereof], the Company has
reserved out of its authorized and unissued share capital [&nbsp;&bull;&nbsp;] ordinary
shares solely for the purpose of effecting VWAP Purchases under the 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">7. No stop order suspending the effectiveness of the Registration Statement
or the use of the Prospectus under the Securities Act has been issued and no proceedings for such purpose or pursuant to Section 8A of
the Securities Act are pending before or, to the knowledge of the Company, threatened by the Commission.</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 undersigned has executed this Certificate this [&bull;]
day of [&bull;], 202[&bull;].</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 3.5in; text-indent: 0.5in"></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: 50%; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 50%">&nbsp;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">Name:</P>

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

</TD></TR>
     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 68 -->
    <DIV STYLE="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><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>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-indent: 0.5in">&nbsp;</P>

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

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

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">From:</FONT></TD>
    <TD STYLE="width: 84%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Vertical Aerospace Ltd.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">To:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Nomura Securities International, Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Attention:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Chief Operating Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Copy to:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">[&nbsp;&nbsp;&nbsp;&nbsp;]</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Subject:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">VWAP Purchase Notice</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Date:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">[&bull;], 202[&bull;]</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Time:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">[&bull;]</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; text-align: justify">Ladies and Gentlemen:</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"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to the terms and subject to the conditions contained in the Share Purchase Agreement (the &ldquo;<B><I>Agreement</I></B>&rdquo;) between
Vertical Aerospace Ltd., a Cayman Islands exempted company with limited liability (the &ldquo;<B><I>Company</I></B>&rdquo;), and Nomura
Securities International, Inc. (the &ldquo;<B><I>Investor</I></B>&rdquo;), dated [&#9679;</FONT>], 2022, the Company hereby directs the
Investor to purchase a number of ordinary shares in the capital of the Company equal to [&#9679;] ordinary shares in the capital of the
Company, par value $0.0001 per share, which the Company represents is no greater than the VWAP Purchase Maximum Amount (as defined in
the Agreement), at the relevant VWAP Purchase Price (as defined in the Agreement). [The Company hereby specifies a Floor Price of $[&#9679;],
and for the avoidance of doubt, the VWAP for such VWAP Purchase Date shall exclude all trades at a price below such Floor Price]. The
Company represents that all conditions set forth in Section 7.3 of the Agreement have been satisfied. Capitalized terms used herein without
definition have the meanings assigned to them in the Agreement.</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 0pt 3.5in; text-indent: 0.5in"></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"><B>Vertical Aerospace Ltd.</B></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%">&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>&nbsp;</TD>
    <TD COLSPAN="2">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title:&#9;</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">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>Nomura Securities International, Inc.</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title:&#9;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-indent: 0.5in"></P>

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<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; text-align: right"><A NAME="a_002"></A><B>Exhibit&nbsp;99.2</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION RIGHTS AGREEMENT</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-indent: 0.5in">THIS REGISTRATION RIGHTS AGREEMENT (this &ldquo;<B><I>Agreement</I></B>&rdquo;),
dated as of August&nbsp;5, 2022, is by and between Nomura Securities International,&nbsp;Inc., a New York corporation (the &ldquo;<B><I>Investor</I></B>&rdquo;),
and Vertical Aerospace Ltd., a Cayman Islands exempted company with limited liability (the &ldquo;<B><I>Company</I></B>&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: center"><B>RECITALS</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">The Company and the Investor have entered into
that certain Share Purchase Agreement, dated as of the date hereof (the &ldquo;<B><I>Purchase Agreement</I></B>&rdquo;), pursuant to
which the Company may issue, from time to time, to the Investor up to $100,000,000 in aggregate gross purchase price of newly issued
ordinary shares in the capital of the Company, par value $0.0001 per share (the &ldquo;<B><I>Ordinary Shares</I></B>&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">Pursuant to the terms of, and in consideration
for the Investor entering into, the Purchase Agreement, and to induce the Investor to execute and deliver the Purchase Agreement, the
Company has agreed to provide the Investor with certain registration rights with respect to the Registrable Securities (as defined herein)
as set forth 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: center"><B>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; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOW,
THEREFORE,</B></FONT> in consideration of the representations, warranties, covenants and agreements contained herein and in the Purchase
Agreement, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, intending to be
legally bound hereby, the Company and the Investor hereby agree 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; text-align: center"><B>ARTICLE&nbsp;I</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. <U>Definitions</U>. Capitalized terms used herein and not otherwise
defined herein shall have the respective meanings set forth in the Purchase Agreement. As used in this Agreement, the following terms
shall have the following meanings:</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">&ldquo;<B><I>Business Day</I></B>&rdquo; means
any day other than Saturday, Sunday or any other day on which commercial banks in New York, New York are authorized or required by law
to remain closed.</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">&ldquo;<B><I>Closing Date</I></B>&rdquo; shall
mean the date of this 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; text-indent: 0.5in">&ldquo;<B><I>Commission</I></B>&rdquo; means the
U.S. Securities and Exchange Commission or any successor entity.</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">&ldquo;<B><I>Effective Date</I></B>&rdquo; means
the date that the applicable Registration Statement has been declared effective by the Commission.</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;<B><I>Effectiveness
Deadline</I></B>&rdquo; means (i)&nbsp;with respect to the Initial Registration Statement required to be filed to pursuant to <B><U>Section&nbsp;2(a)</U></B>,
the earlier of (A)&nbsp;the 90</FONT><FONT STYLE="font-size: 10pt"><SUP>th</SUP></FONT> calendar day after the Filing Deadline, if such
Registration Statement is subject to review by the Commission, and (B)&nbsp;the 60<FONT STYLE="font-size: 10pt"><SUP>th</SUP></FONT>
calendar day after the Filing Deadline, if the Company is notified (orally or in writing, whichever is earlier) by the Commission that
such Registration Statement will not be reviewed and (ii)&nbsp;with respect to any New Registration Statements that may be required to
be filed by the Company pursuant to this Agreement, the earlier of (A)&nbsp;the 90<FONT STYLE="font-size: 10pt"><SUP>th</SUP></FONT>
calendar day following the date on which the Company was required to file such additional Registration Statement, if such Registration
Statement is subject to review by the Commission, and (B)&nbsp;the 45<FONT STYLE="font-size: 10pt"><SUP>th</SUP></FONT> calendar day
following the date on which the Company was required to file such New Registration Statement, if the Company is notified (orally or in
writing, whichever is earlier) by the Commission that such Registration Statement will not be reviewed.</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&ldquo;Eligible
Market&rdquo; </I></B></FONT>means The New York Stock Exchange,&nbsp;Inc., NYSE AMEX Equities, the NASDAQ Global Select Market, The NASDAQ
Global Market or the NASDAQ Capital Market.</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;<B><I>Filing
Deadline</I></B>&rdquo; means (i)&nbsp;with respect to the Initial Registration Statement required to be filed to pursuant to <B><U>Section&nbsp;2(a)</U></B>,
the 30</FONT><FONT STYLE="font-size: 10pt"><SUP>th </SUP></FONT>Business Day after the due date in accordance with the Exchange Act (without
reference to any extensions pursuant to Rule&nbsp;12b-25) of the Company&rsquo;s Annual Report on Form&nbsp;20-F with respect to the
year ended December&nbsp;31, 2022 (or if such day is not a Business Day, the next following Business Day), and (ii)&nbsp;with respect
to any New Registration Statements that may be required to be filed by the Company pursuant to this Agreement, the 30<FONT STYLE="font-size: 10pt"><SUP>th
</SUP></FONT>Business Day following the sale of substantially all of the Registrable Securities included in the Initial Registration
Statement or the most recent prior New Registration Statement, as applicable, or such other date as permitted by the Commission.</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">&ldquo;<B><I>Person</I></B>&rdquo; means any person
or entity, whether a natural person, trustee, corporation, partnership, limited partnership, limited liability company, trust, unincorporated
organization, business association, firm, joint venture, governmental agency or 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-indent: 0.5in">&ldquo;<B><I>Prospectus</I></B>&rdquo; means the
prospectus in the form included in the Registration Statement at the applicable Effective Date of the Registration Statement, as supplemented
from time to time by any Prospectus Supplement, including the documents incorporated by reference 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; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Prospectus Supplement</I></B>&rdquo;
means any prospectus supplement to the Prospectus filed with the Commission from time to time pursuant to Rule&nbsp;424(b)&nbsp;under
the Securities Act, including the documents incorporated by reference 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; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>register</I></B>,&rdquo; &ldquo;<B><I>registered</I></B>,&rdquo;
and &ldquo;<B><I>registration</I></B>&rdquo; refer to a registration effected by preparing and filing one or more Registration Statements
in compliance with the Securities Act and pursuant to Rule&nbsp;415 and the declaration of effectiveness of such Registration Statement(s)&nbsp;by
the Commission.</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">&ldquo;<B><I>Registrable Securities</I></B>&rdquo;
means all of (i)&nbsp;the Shares and (ii)&nbsp;any share capital of the Company issued or issuable with respect to such Shares, including,
without limitation, (1)&nbsp;as a result of any share subdivisions, share capitalizations, reorganizations, recapitalizations, exchange
or similar event or otherwise and (2)&nbsp;share capital of the Company into which the Ordinary Shares are converted or exchanged and
share capital of a successor entity into which the Ordinary Shares are converted or exchanged, in each case until such time as such securities
cease to be Registrable Securities pursuant to Section&nbsp;2(f).</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">&ldquo;<B><I>Registration Statement</I></B>&rdquo;
means a registration statement or registration statements of the Company filed under the Securities Act covering the resale by the Investor
of Registrable Securities, as such registration statement or registration statements may be amended and supplemented from time to time,
including all documents filed as part thereof or incorporated by reference 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; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><I>Rule&nbsp;144</I></B>&rdquo; means
Rule&nbsp;144 promulgated by the Commission under the Securities Act, as such rule&nbsp;may be amended from time to time, or any other
similar or successor rule&nbsp;or regulation of the Commission that may at any time permit the Investor to sell securities of the Company
to the public without registration.</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">&ldquo;<B><I>Rule&nbsp;415</I></B>&rdquo; means
Rule&nbsp;415 promulgated by the Commission under the Securities Act, as such rule&nbsp;may be amended from time to time, or any other
similar or successor rule&nbsp;or regulation of the Commission providing for offering securities on a delayed or continuous basis.</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">&ldquo;<B><I>Shares</I></B>&rdquo; shall mean
the Ordinary Shares that may be purchased by the Investor under this Agreement pursuant to one or more VWAP Purchase Notices.</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">&ldquo;<B><I>Trading Day</I></B>&rdquo; shall
mean any day on which the Trading Market or, if the Ordinary Shares are then listed on an Eligible Market, such Eligible Market is open
for trading (regular way), including any day on which the Trading Market (or such Eligible Market, as applicable) is open for trading
(regular way) for a period of time less than the customary 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; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&ldquo;Trading
Market&rdquo;</I></B></FONT> means The New York Stock Exchange,&nbsp;Inc.</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>ARTICLE&nbsp;II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATIONS</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">2. <U>Registration</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-indent: 0.5in">(a)&nbsp;<U>Mandatory Registration</U>. The Company
shall prepare and, as soon as practicable, but in no event later than the Filing Deadline, file with the Commission an initial registration
statement on Form&nbsp;F-1 (or any successor form) covering the resale by the Investor of the maximum number of Registrable Securities
as shall be permitted to be included thereon in accordance with applicable Commission rules, regulations and interpretations so as to
permit the resale of such Registrable Securities by the Investor under <B><U>Rule&nbsp;415</U></B> under the Securities Act at then prevailing
market prices (and not fixed prices) (the &ldquo;<B><I>Initial Registration Statement</I></B>&rdquo;). The Initial Registration Statement
shall contain the &ldquo;Selling Securityholder&rdquo; and &ldquo;Plan of Distribution (Conflict of Interest)&rdquo; sections in substantially
the form attached hereto as <U>Exhibit&nbsp;A</U>. The Company shall use its commercially reasonable efforts to have the Initial Registration
Statement declared effective by the Commission as soon as reasonably practicable following the filing thereof with the Commission.</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">(b)&nbsp;<U>Legal Counsel</U>. Subject to Section&nbsp;5
hereof, the Investor shall have the right to select one legal counsel to review and oversee, solely on its behalf, each Registration
Statement pursuant to this Section&nbsp;2 (&ldquo;<B><I>Legal Counsel</I></B>&rdquo;), which shall be Winston&nbsp;&amp; Strawn LLP,
or such other counsel as thereafter designated by the Investor. Except as provided under Section&nbsp;10.1(i)&nbsp;of the Purchase Agreement,
the Company shall have no obligation to reimburse the Investor for any and all legal fees and expenses of the Legal Counsel incurred
in connection with the transactions contemplated hereby.</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">(c)&nbsp;<U>Sufficient Number of Shares Registered</U>.
If at any time all Registrable Securities are not covered by the Initial Registration Statement filed pursuant to Section&nbsp;2(a)&nbsp;as
a result of Section&nbsp;2(e)&nbsp;or otherwise, the Company shall use its commercially reasonable efforts to file with the Commission
one or more additional Registration Statements so as to cover all of the Registrable Securities not covered by such Initial Registration
Statement, in each case, as soon as practicable (taking into account any position of the staff of the Commission (&ldquo;<B><I>Staff</I></B>&rdquo;)
with respect to the date on which the Staff will permit such additional Registration Statement(s)&nbsp;to be filed with the Commission
and the rules&nbsp;and regulations of the Commission) (each such additional Registration Statement, a &ldquo;<B><I>New Registration Statement</I></B>&rdquo;)
but in no event later than the applicable Filing Deadline for such New Registration Statement. The Company shall use its commercially
reasonable efforts to cause each such New Registration Statement to become effective as soon as reasonably practicable following the
filing thereof with the Commission.</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">(d)&nbsp;<U>No Inclusion of Other Securities</U>.
In no event shall the Company include any securities other than Registrable Securities on any Registration Statement pursuant to Section&nbsp;2(a)&nbsp;or
Section&nbsp;2(c)&nbsp;without consulting the Investor and Legal Counsel prior to filing such Registration Statement with the Commission.</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">(e)&nbsp;<U>Statutory Underwriter Status</U>.
The Investor acknowledges that it will be identified as an &ldquo;underwriter&rdquo; and a &ldquo;selling securityholder&rdquo; in each
Registration Statement and in any Prospectus contained therein to the extent required by applicable law and to the extent the Prospectus
is related to the resale of Registrable Securities.</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">(f) <U>Offering</U>. If the Staff or the Commission
seeks to characterize any offering pursuant to a Registration Statement filed pursuant to this Agreement as constituting an offering
of securities that does not permit such Registration Statement to become effective and be used for resales by the Investor on a delayed
or continuous basis under Rule 415 at then-prevailing market prices (and not fixed prices), or if after the filing of any Registration
Statement pursuant to Section 2(a) or Section 2(c), the Company is otherwise required by the Staff or the Commission to reduce the number
of Registrable Securities included in such Registration Statement, then the Company shall reduce the number of Registrable Securities
to be included in such Registration Statement (after consultation with the Investor and Legal Counsel as to the specific Registrable
Securities to be removed therefrom) until such time as the Staff and the Commission shall so permit such Registration Statement to become
effective and be used as aforesaid. Notwithstanding anything in this Agreement to the contrary, if after giving effect to the actions
referred to in the immediately preceding sentence, the Staff or the Commission does not permit such Registration Statement to become
effective and be used for resales by the Investor on a delayed or continuous basis under Rule 415 at then-prevailing market prices (and
not fixed prices), the Company shall not request acceleration of the Effective Date of such Registration Statement, the Company shall
promptly (but in no event later than 48 hours) request the withdrawal of such Registration Statement pursuant to Rule 477 under the Securities
Act, and the Effectiveness Deadline shall automatically be deemed to have elapsed with respect to such Registration Statement at such
time as the Staff or the Commission has made a final and non-appealable determination that the Commission will not permit such Registration
Statement to be so utilized (unless prior to such time the Company has received assurances from the Staff or the Commission that a New
Registration Statement filed by the Company with the Commission promptly thereafter may be so utilized). In the event of any reduction
in Registrable Securities pursuant to this paragraph, the Company shall use its commercially reasonable efforts to file one or more New
Registration Statements with the Commission in accordance with Section 2(c) until such time as all Registrable Securities have been included
in Registration Statements that have been declared effective and the Prospectuses contained therein are available for use by the Investor.
Notwithstanding any provision herein or in the Purchase Agreement to the contrary, the Company&rsquo;s obligations to register Registrable
Securities (and any related conditions to the Investor&rsquo;s obligations) shall be qualified to the extent necessary to comport with
any requirement of the Staff or the Commission.</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">(g)&nbsp;Any Registrable Security shall cease
to be a &ldquo;Registrable Security&rdquo; at the earliest of the following: (i)&nbsp;when a Registration Statement covering such Registrable
Security becomes or has been declared effective by the Commission and such Registrable Security has been sold or disposed of pursuant
to such effective Registration Statement; (ii)&nbsp;when such Registrable Security is held by the Company or one of its Subsidiaries;
and (iii)&nbsp;the date that is the first (1st) anniversary of the date of termination of the Purchase Agreement in accordance with Article&nbsp;VIII
of the Purchase 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; text-align: center"><B>ARTICLE&nbsp;III</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RELATED OBLIGATIONS</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">3. <U>Related Obligations.</U> The Company shall use its commercially
reasonable efforts to effect the registration of the Registrable Securities in accordance with the intended method of disposition thereof,
and, pursuant thereto, during the term of this Agreement, the Company shall have the following obligations:</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">(a) The Company shall promptly prepare and
file with the Commission the Initial Registration Statement pursuant to Section 2(a) hereof and one or more New Registration
Statements pursuant to Section 2(c) hereof with respect to the Registrable Securities, but in no event later than the applicable
Filing Deadline therefor, and the Company shall use its commercially reasonable best efforts to cause each such Registration
Statement to become effective as soon as practicable after such filing, but in no event later than the applicable Effectiveness
Deadline therefor. Subject to Allowable Grace Periods, the Company shall use its reasonable best efforts keep each Registration
Statement effective (and the Prospectus contained therein available for use) pursuant to Rule 415 for resales by the Investor on a
continuous basis at then-prevailing market prices (and not fixed prices) at all times until the earlier of (i) the date on which the
Investor shall have sold all of the Registrable Securities covered by such Registration Statement and (ii) the date of termination
of the Purchase Agreement if as of such termination date the Investor holds no Registrable Securities (or, if applicable, the date
on which such securities cease to be Registrable Securities after the date of termination of the Purchase Agreement) (the
 &ldquo;<B><I>Registration Period</I></B>&rdquo;). Notwithstanding anything to the contrary contained in this Agreement (but subject
to the provisions of Section 3(p) hereof), the Company shall ensure that, when filed and at all times while effective, each
Registration Statement (including, without limitation, all amendments and supplements thereto) and the Prospectus (including,
without limitation, all amendments and supplements thereto) used in connection with such Registration Statement shall not contain
any untrue statement of a material fact or omit to state a material fact required to be stated therein, or necessary to make the
statements therein (in the case of Prospectuses, in the light of the circumstances in which they were made) not misleading. The
Company shall submit to the Commission, as soon as reasonably practicable after the date that the Company learns that no review of a
particular Registration Statement will be made by the Staff or that the Staff has no further comments on a particular Registration
Statement (as the case may be), a request for acceleration of effectiveness of such Registration Statement to a time and date as
soon as reasonably practicable in accordance with Rule 461 under the Securities Act.</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">(b)&nbsp;Subject to Section&nbsp;3(p)&nbsp;of
this Agreement, the Company shall use its commercially reasonable efforts to prepare and file with the Commission such amendments (including,
without limitation, post-effective amendments) and supplements to each Registration Statement and the Prospectus used in connection with
each such Registration Statement, which Prospectus is to be filed pursuant to Rule&nbsp;424 promulgated under the Securities Act, as
may be necessary to keep each such Registration Statement effective (and the Prospectus contained therein current and available for use)
at all times during the Registration Period for such Registration Statement, and, during such period, comply with the provisions of the
Securities Act with respect to the disposition of all Registrable Securities of the Company required to be covered by such Registration
Statement until such time as all of such Registrable Securities shall have been disposed of in accordance with the intended methods of
disposition by the Investor. Without limiting the generality of the foregoing, the Company covenants and agrees that (i)&nbsp;at or before
8:30 a.m.&nbsp;(New York City time) on the second (2nd) Trading Day immediately following the Effective Date of the Initial Registration
Statement and any New Registration Statement (or any post-effective amendment thereto), the Company shall file with the Commission in
accordance with Rule&nbsp;424(b)&nbsp;under the Securities Act the final Prospectus to be used in connection with sales pursuant to such
Registration Statement (or post-effective amendment thereto), and (ii)&nbsp;if the transactions contemplated by any VWAP Purchase are
material to the Company (individually or collectively with all other prior VWAP Purchases, the consummation of which have not previously
been reported in any Prospectus Supplement filed with the Commission under Rule&nbsp;424(b)&nbsp;under the Securities Act or in any report,
statement or other document filed by the Company with the Commission under the Exchange Act), or if otherwise required under the Securities
Act (or the interpretations of the Commission thereof), in each case as reasonably determined by the Company and the Investor, then,
at or before 8:30 a.m., New York City time, on the first (1st) Trading Day immediately following the VWAP Purchase Date, if a VWAP Purchase
Notice was properly delivered to the Investor hereunder in connection with such VWAP Purchase, the Company shall file with the Commission
a Prospectus Supplement pursuant to Rule&nbsp;424(b)&nbsp;under the Securities Act with respect to the VWAP Purchase(s), the total VWAP
Purchase Price for the Shares subject to such VWAP Purchase(s)&nbsp;(as applicable), the applicable VWAP Purchase Price(s)&nbsp;for such
Shares and the net proceeds that are to be (and, if applicable, have been) received by the Company from the sale of such Shares. To the
extent not previously disclosed in the Prospectus or a Prospectus Supplement, the Company shall disclose in its Reports on Form&nbsp;6-K
containing interim financial information of the Company and in its Annual Reports on Form&nbsp;20-F the information described in the
immediately preceding sentence relating to all VWAP Purchase(s)&nbsp;consummated during the relevant fiscal quarter and shall file such
Reports on Form&nbsp;6-K and Annual Reports on Form&nbsp;20-F with the Commission within the applicable time period prescribed for such
report under the Exchange Act. In the case of amendments and supplements to any Registration Statement on Form&nbsp;F-1 or Prospectus
related thereto which are required to be filed pursuant to this Agreement (including, without limitation, pursuant to this Section&nbsp;3(b))
by reason of the Company filing a report on Form&nbsp;6-K or Form&nbsp;20-F or any analogous report under the Exchange Act, the Company
shall have incorporated such report by reference into such Registration Statement and Prospectus, if applicable, or shall file such amendments
or supplements to the Registration Statement or Prospectus with the Commission on the same day on which the Exchange Act report is filed
which created the requirement for the Company to amend or supplement such Registration Statement or Prospectus, for the purpose of including
or incorporating such report into such Registration Statement and Prospectus. The Company consents to the use of the Prospectus (including,
without limitation, any supplement thereto) included in each Registration Statement in accordance with the provisions of the Securities
Act and with the securities or &ldquo;Blue Sky&rdquo; laws of the jurisdictions in which the Registrable Securities may be sold by the
Investor, in connection with the resale of the Registrable Securities and for such period of time thereafter as such Prospectus (including,
without limitation, any supplement thereto) (or in lieu thereof, the notice referred to in Rule&nbsp;173(a)&nbsp;under the Securities
Act) is required by the Securities Act to be delivered in connection with resales of Registrable Securities.</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">(c)&nbsp;The Company shall (A)&nbsp;permit Legal
Counsel an opportunity to review and comment upon (i)&nbsp;each Registration Statement at least five (5)&nbsp;Business Days prior to
its filing with the Commission and (ii)&nbsp;all amendments and supplements to each Registration Statement (including, without limitation,
the Prospectus contained therein) (except for Annual Reports on Form&nbsp;20-F, Reports on Form&nbsp;6-K specifically relating to the
Company&rsquo;s interim financial results, and any similar or successor reports or Prospectus Supplements the contents of which is limited
to that set forth in such reports) within a reasonable number of days prior to their filing with the Commission, and (B)&nbsp;shall reasonably
consider any comments of the Investor and Legal Counsel on any such Registration Statement or amendment or supplement thereto or to any
Prospectus contained therein. The Company shall promptly furnish to Legal Counsel, without charge, (i)&nbsp;electronic copies of any
correspondence from the Commission or the Staff to the Company or its representatives relating to each Registration Statement (which
correspondence shall be redacted to exclude any material, non-public information regarding the Company or any of its Subsidiaries), (ii)&nbsp;after
the same is prepared and filed with the Commission, one (1)&nbsp;electronic copy of each Registration Statement and any amendment(s)&nbsp;and
supplement(s)&nbsp;thereto, including, without limitation, financial statements and schedules, all documents incorporated therein by
reference, if requested by the Investor, and all exhibits and (iii)&nbsp;upon the effectiveness of each Registration Statement, one (1)&nbsp;electronic
copy of the Prospectus included in such Registration Statement and all amendments and supplements thereto; provided, however, the Company
shall not be required to furnish any document (other than the Prospectus, which may be provided in .PDF format) to Legal Counsel to the
extent such document is available on EDGAR at the time of Legal Counsel&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; text-indent: 0.5in">(d)&nbsp;Without limiting any obligation of the
Company under the Purchase Agreement, the Company shall promptly furnish to the Investor, without charge, (i)&nbsp;after the same is
prepared and filed with the Commission, at least one (1)&nbsp;electronic copy of each Registration Statement and any amendment(s)&nbsp;and
supplement(s)&nbsp;thereto, including, without limitation, financial statements and schedules, all documents incorporated therein by
reference, if requested by the Investor, all exhibits thereto, (ii)&nbsp;upon the effectiveness of each Registration Statement, one (1)&nbsp;electronic
copy of the Prospectus included in such Registration Statement and all amendments and supplements thereto and (iii)&nbsp;such other documents,
including, without limitation, copies of any final Prospectus and any Prospectus Supplement thereto, as the Investor may reasonably request
from time to time in order to facilitate the disposition of the Registrable Securities owned by the Investor; provided, however, the
Company shall not be required to furnish any document (other than the Prospectus, which may be provided in .PDF format) to the Investor
to the extent such document is available on EDGAR.</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">(e)&nbsp;The Company shall take such action as
is reasonably necessary to (i)&nbsp;register and qualify, unless an exemption from registration and qualification applies, the resale
by the Investor of the Registrable Securities covered by a Registration Statement under such other securities or &ldquo;Blue Sky&rdquo;
laws of all applicable jurisdictions in the United States, (ii)&nbsp;prepare and file in those jurisdictions, such amendments (including,
without limitation, post-effective amendments) and supplements to such registrations and qualifications as may be necessary to maintain
the effectiveness thereof during the Registration Period, (iii)&nbsp;take such other actions as may be reasonably necessary to maintain
such registrations and qualifications in effect at all times during the Registration Period, and (iv)&nbsp;take all other actions reasonably
necessary or advisable to qualify the Registrable Securities for sale in such jurisdictions; <U>provided</U>, <U>however</U>, the Company
shall not be required in connection therewith or as a condition thereto to (x)&nbsp;qualify to do business in any jurisdiction where
it would not otherwise be required to qualify but for this Section&nbsp;3(e), (y)&nbsp;subject itself to general taxation in any such
jurisdiction, or (z)&nbsp;file a general consent to service of process in any such jurisdiction. The Company shall promptly notify Legal
Counsel and the Investor of the receipt by the Company of any notification with respect to the suspension of the registration or qualification
of any of the Registrable Securities for sale under the securities or &ldquo;Blue Sky&rdquo; laws of any jurisdiction in the United States
or its receipt of actual notice of the initiation or threatening of any proceeding for such purpose.</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">(f)&nbsp;The Company shall notify Legal Counsel
and the Investor in writing of the happening of any event, as promptly as reasonably practicable after becoming aware of such event,
as a result of which the Prospectus included in a Registration Statement, as then in effect, includes an untrue statement of a material
fact or omits to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading (provided that in no event shall such notice contain any material, non-public
information regarding the Company or any of its Subsidiaries), and, subject to Section&nbsp;3(p), promptly prepare a supplement or amendment
to such Registration Statement and such Prospectus contained therein to correct such untrue statement or omission and deliver one (1)&nbsp;electronic
copy of such supplement or amendment to Legal Counsel and the Investor. The Company shall also promptly notify Legal Counsel and the
Investor in writing (i)&nbsp;when a Prospectus or any Prospectus Supplement or post-effective amendment has been filed, when a Registration
Statement or any post-effective amendment has become effective, and when the Company receives written notice from the Commission that
a Registration Statement or any post-effective amendment will be reviewed by the Commission, (ii)&nbsp;of any request by the Commission
for amendments or supplements to a Registration Statement or related Prospectus or related information, (iii)&nbsp;of the Company&rsquo;s
reasonable determination that a post-effective amendment to a Registration Statement would be appropriate and (iv)&nbsp;of the receipt
of any request by the Commission or any other federal or state governmental authority for any additional information relating to the
Registration Statement or any amendment or supplement thereto or any related Prospectus. The Company shall respond as promptly as reasonably
practicable to any comments received from the Commission with respect to a Registration Statement or any amendment thereto. Nothing in
this Section&nbsp;3(f)&nbsp;shall limit any obligation of the Company under the Purchase 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; text-indent: 0.5in">(g)&nbsp;The Company shall (i)&nbsp;use its commercially
reasonable efforts to prevent the issuance of any stop order or other suspension of effectiveness of a Registration Statement or the
use of any Prospectus contained therein, or the suspension of the qualification, or the loss of an exemption from qualification, of any
of the Registrable Securities for sale in any jurisdiction and, if such an order or suspension is issued, to obtain the withdrawal of
such order or suspension at the earliest possible time and (ii)&nbsp;notify Legal Counsel and the Investor of the issuance of such order
and the resolution thereof or its receipt of actual notice of the initiation or threat of any proceeding.</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">(h)&nbsp;The Company shall hold in confidence
and not make any disclosure of information concerning the Investor provided to the Company unless (i)&nbsp;disclosure of such information
is necessary to comply with federal or state securities laws, (ii)&nbsp;the disclosure of such information is necessary to avoid or correct
a misstatement or omission in any Registration Statement or is otherwise required to be disclosed in such Registration Statement pursuant
to the Securities Act, (iii)&nbsp;the release of such information is ordered pursuant to a subpoena or other final, non-appealable order
from a court or governmental body of competent jurisdiction, or (iv)&nbsp;such information has been made generally available to the public
other than by disclosure in violation of this Agreement or any other Transaction Document. The Company agrees that it shall, upon learning
that disclosure of such information concerning the Investor is sought in or by a court or governmental body of competent jurisdiction
or through other means, give prompt written notice to the Investor and allow the Investor, at the Investor&rsquo;s expense, to undertake
appropriate action to prevent disclosure of, or to obtain a protective order for, such 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; text-indent: 0.5in">(i)&nbsp;Without limiting any obligation of the
Company under the Purchase Agreement, the Company shall use its commercially reasonable efforts either to (1)&nbsp;cause all of the Registrable
Securities covered by each Registration Statement to be listed on the Trading Market, or (2)&nbsp;secure designation and quotation of
all of the Registrable Securities covered by each Registration Statement on another Eligible Market. The Company shall pay all fees and
expenses in connection with satisfying its obligation under this Section&nbsp;3(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">(j)&nbsp;The Company shall cooperate with the
Investor and, to the extent applicable, facilitate the timely preparation and issuance of Registrable Securities, as DWAC Shares, to
be offered pursuant to a Registration Statement and enable such DWAC Shares to be in such denominations or amounts (as the case may be)
as the Investor may reasonably request from time to time. Investor hereby agrees that it shall cooperate with the Company, its counsel
and its transfer agent in connection with any issuances of DWAC Shares, and hereby represents, warrants and covenants to the Company
that that it will resell such DWAC Shares only pursuant to the Registration Statement in which such DWAC Shares are included, in a manner
described under the caption &ldquo;Plan of Distribution (Conflict of Interest)&rdquo; in such Registration Statement, and in a manner
in compliance with all applicable U.S. federal and state securities laws, rules&nbsp;and regulations, including, without limitation,
any applicable prospectus delivery requirements of the Securities Act. At the time such DWAC Shares are offered and sold pursuant to
the Registration Statement, such DWAC Shares shall be free from all restrictive legends (except as otherwise required by this Agreement,
the Purchase Agreement or applicable federal or state securities laws) and may be transmitted by the Company&rsquo;s transfer agent to
the Investor by crediting an account at DTC as directed in writing by the Investor.</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">(k)&nbsp;Upon the written request of the Investor,
the Company shall, as soon as reasonably practicable after receipt of notice from the Investor and subject to Section&nbsp;3(p)&nbsp;hereof,
(i)&nbsp;incorporate in a Prospectus Supplement or post-effective amendment such information as the Investor reasonably requests to be
included therein relating to the sale and distribution of Registrable Securities, including, without limitation, information with respect
to the number of Registrable Securities being offered or sold, the purchase price being paid therefor and any other terms of the offering
of the Registrable Securities to be sold in such offering; (ii)&nbsp;make all required filings of such Prospectus Supplement or post-effective
amendment after being notified of the matters to be incorporated in such Prospectus Supplement or post-effective amendment; and (iii)&nbsp;supplement
or make amendments to any Registration Statement or Prospectus contained therein if reasonably requested by the Investor.</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">(l)&nbsp;The Company shall use its commercially
reasonable efforts to cause the Registrable Securities covered by a Registration Statement to be registered with or approved by such
other governmental agencies or authorities in the United States as may be necessary to consummate the disposition of such Registrable
Securities.</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">(m)&nbsp;The Company shall make generally available
to its securityholders (which may be satisfied by making such information available on EDGAR) as soon as practical, but not later than
ninety (90) days after the close of the period covered thereby, an earnings statement (in form complying with, and in the manner provided
by, the provisions of Rule&nbsp;158 under the Securities Act) covering a twelve-month period beginning not later than the first day of
the Company&rsquo;s fiscal quarter next following the applicable Effective Date of each Registration Statement.</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">(n)&nbsp;The Company shall otherwise use its commercially
reasonable efforts to comply with all applicable rules&nbsp;and regulations of the Commission in connection with any registration 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; text-indent: 0.5in">(o) Within one (1) Business Day after each Registration
Statement which covers Registrable Securities is declared effective by the Commission, the Company shall deliver, and shall cause legal
counsel for the Company to deliver, to the transfer agent for such Registrable Securities (with copies to the Investor) confirmation that
such Registration Statement has been declared effective by the Commission.</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">(p)&nbsp;Notwithstanding anything to the contrary
contained herein (but subject to the last sentence of this Section&nbsp;3(p)), at any time after the Effective Date of a particular Registration
Statement, the Company may, upon written notice to Investor, suspend Investor&rsquo;s use of any prospectus that is a part of any Registration
Statement (in which event the Investor shall discontinue sales of the Registrable Securities pursuant to such Registration Statement
contemplated by this Agreement, but shall settle any previously made sales of Registrable Securities) if the Company (x)&nbsp;is pursuing
an acquisition, merger, tender offer, reorganization, disposition or other similar transaction and the Company determines in good faith
that (A)&nbsp;the Company&rsquo;s ability to pursue or consummate such a transaction would be materially adversely affected by any required
disclosure of such transaction in such Registration Statement or other registration statement or (B)&nbsp;such transaction renders the
Company unable to comply with Commission requirements, in each case under circumstances that would make it impractical or inadvisable
to cause any Registration Statement (or such filings) to be used by Investor or to promptly amend or supplement any Registration Statement
contemplated by this Agreement on a post effective basis, as applicable, or (y)&nbsp;has experienced some other material non-public event
the disclosure of which at such time, in the good faith judgment of the Company, would materially adversely affect the Company (each,
an &ldquo;<B><I>Allowable Grace Period</I></B>&rdquo;); <I>provided, however</I>, that in no event shall the Investor be suspended from
selling Registrable Securities pursuant to any Registration Statement for a period that exceeds twenty (20) consecutive Trading Days
or an aggregate of sixty (60) days in any three hundred and sixty-five (365)-day period; and <I>provided, further</I>, the Company shall
not effect any such suspension during the three-Trading Day period following the VWAP Purchase Share Delivery Date for each VWAP Purchase.
Upon disclosure of such information or the termination of the condition described above, the Company shall provide prompt notice, but
in any event within one (1)&nbsp;Business Day of such disclosure or termination, to the Investor and shall promptly terminate any suspension
of sales it has put into effect and shall take such other reasonable actions to permit registered sales of Registrable Securities as
contemplated in this Agreement (including as set forth in the first sentence of Section&nbsp;3(f)&nbsp;with respect to the information
giving rise thereto unless such material, non-public information is no longer applicable). Notwithstanding anything to the contrary contained
in this Section&nbsp;3(p), the Company shall cause its transfer agent, following the register of members of the Company being updated
to reflect the same, to deliver DWAC Shares to a transferee of the Investor in accordance with the terms of the Purchase Agreement in
connection with any sale of Registrable Securities with respect to which (i)&nbsp;the Company has made a sale to Investor and (ii)&nbsp;the
Investor has entered into a contract for sale, and delivered a copy of the Prospectus included as part of the particular Registration
Statement to the extent applicable, in each case prior to the Investor&rsquo;s receipt of the notice of an Allowable Grace Period and
for which the Investor has not yet settled.</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>ARTICLE&nbsp;IV</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OBLIGATIONS OF THE INVESTOR</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">4. <U>Obligations of the Investor</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-indent: 0.5in">(a)&nbsp;At least five (5)&nbsp;Business Days
prior to the first anticipated filing date of each Registration Statement (or such shorter period to which the parties agree), the Company
shall notify the Investor in writing of the information the Company requires from the Investor with respect to such Registration Statement.
It shall be a condition precedent to the obligations of the Company to complete the registration pursuant to this Agreement with respect
to the Registrable Securities of the Investor that the Investor shall furnish to the Company such information regarding itself, the Registrable
Securities held by it and the intended method of disposition of the Registrable Securities held by it, as shall be reasonably required
to effect and maintain the effectiveness of the registration of such Registrable Securities and shall execute such documents in connection
with such registration as the Company may reasonably 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; text-indent: 0.5in">(b)&nbsp;The Investor, by its acceptance of the
Registrable Securities, agrees to cooperate with the Company as reasonably requested by the Company in connection with the preparation
and filing of each Registration Statement hereunder, unless the Investor has notified the Company in writing of the Investor&rsquo;s
election to exclude all of the Investor&rsquo;s Registrable Securities from such Registration Statement.</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">(c)&nbsp;The Investor agrees that, upon receipt
of any notice from the Company of the happening of any event of the kind described in Section&nbsp;3(p)&nbsp;or the first sentence of
3(f), the Investor shall as soon as is reasonably practicable (i)&nbsp;discontinue disposition of Registrable Securities pursuant to
any Registration Statement(s)&nbsp;covering such Registrable Securities until the Investor&rsquo;s receipt of the copies of the supplemented
or amended Prospectus contemplated by Section&nbsp;3(p)&nbsp;or the first sentence of Section&nbsp;3(f)&nbsp;or receipt of notice that
no supplement or amendment is required and (ii)&nbsp;maintain the confidentiality of any information included in such notice delivered
by the Company unless otherwise required by law or subpoena. Notwithstanding anything to the contrary in this Section&nbsp;4(c), the
Company shall cause its transfer agent to deliver DWAC Shares to a transferee of the Investor (and update the register of members of
the Company to reflect the same) in accordance with the terms of the Purchase Agreement in connection with any sale of Registrable Securities
with respect to which the Investor has entered into a contract for sale prior to the Investor&rsquo;s receipt of a notice from the Company
of the happening of any event of the kind described in Section&nbsp;3(p)&nbsp;or the first sentence of Section&nbsp;3(f)&nbsp;and for
which the Investor has not yet settled.</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">(d)&nbsp;The Investor covenants and agrees that
it shall comply with the prospectus delivery and other requirements of the Securities Act as applicable to it in connection with sales
of Registrable Securities pursuant to a Registration Statement.</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>ARTICLE&nbsp;V</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXPENSES OF REGISTRATION</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">5. <U>Expenses of Registration</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-indent: 0.5in">Except as provided in Section 10.1 of the Purchase
Agreement, the Company shall have no obligation to reimburse the Investor for any expenses of the Investor incurred in connection with
registrations, filings or qualifications pursuant to Sections 2 and 3 hereof. All registration, listing and qualifications fees, printers
and accounting fees, and fees and disbursements of counsel for the Company, shall be paid by the Company.</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>ARTICLE&nbsp;VI</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INDEMNIFICATION</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">6. <U>Indemnification</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-indent: 0.5in">(a)&nbsp;In the event any Registrable Securities
are included in any Registration Statement under this Agreement, to the fullest extent permitted by law, the Company will, and hereby
does, indemnify, hold harmless and defend the Investor, each of its directors, officers, shareholders, members, partners, employees,
agents, representatives (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding the
lack of such title or any other title) and each Person, if any, who controls the Investor within the meaning of the Securities Act or
the Exchange Act and each of the directors, officers, shareholders, members, partners, employees, agents, representatives (and any other
Persons with a functionally equivalent role of a Person holding such titles notwithstanding the lack of such title or any other title)
of such controlling Persons (each, an &ldquo;<B><I>Investor Party</I></B>&rdquo; and collectively, the &ldquo;<B><I>Investor Partie</I></B>s&rdquo;),
against any losses, obligations, claims, damages, liabilities, contingencies, judgments, fines, penalties, charges, costs (including,
without limitation, court costs, reasonable attorneys&rsquo; fees, costs of defense and investigation), amounts paid in settlement or
expenses, joint or several, (collectively, &ldquo;<B><I>Claims</I></B>&rdquo;) reasonably incurred in investigating, preparing or defending
any action, claim, suit, inquiry, proceeding, investigation or appeal taken from the foregoing by or before any court or governmental,
administrative or other regulatory agency, body or the Commission, whether pending or threatened, whether or not an Investor Party is
or may be a party thereto (&ldquo;<B><I>Indemnified Damages</I></B>&rdquo;), to which any of them may become subject insofar as such
Claims (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon: (i)&nbsp;any
untrue statement or alleged untrue statement of a material fact in a Registration Statement or any post-effective amendment thereto or
in any filing made in connection with the qualification of the offering under the securities or other &ldquo;Blue Sky&rdquo; laws of
any jurisdiction in which Registrable Securities are offered (&ldquo;<B><I>Blue Sky Filing</I></B>&rdquo;), or the omission or alleged
omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading or (ii)&nbsp;any
untrue statement or alleged untrue statement of a material fact contained in any Prospectus (as amended or supplemented) or in any Prospectus
Supplement or the omission or alleged omission to state therein any material fact necessary to make the statements made therein, in light
of the circumstances under which the statements therein were made, not misleading (the matters in the foregoing clauses (i)&nbsp;and
(ii)&nbsp;being, collectively, &ldquo;<B><I>Violations</I></B>&rdquo;). Subject to Section&nbsp;6(e), the Company shall reimburse the
Investor Parties, promptly as such expenses are incurred and are due and payable, for any reasonable legal fees or other reasonable expenses
incurred by them in connection with investigating or defending any such Claim. Notwithstanding anything to the contrary contained herein,
the indemnification agreement contained in this Section&nbsp;6(a): (i)&nbsp;shall not apply to a Claim by an Investor Party arising out
of or based upon a Violation which occurs in reliance upon and in conformity with information furnished in writing to the Company by
such Investor Party for such Investor Party expressly for use in connection with the preparation of such Registration Statement, Prospectus
or Prospectus Supplement or any such amendment thereof or supplement thereto (it being hereby acknowledged and agreed that the written
information set forth on <U>Exhibit&nbsp;A</U> attached hereto is the only written information furnished to the Company by or on behalf
of the Investor expressly for use in any Registration Statement, Prospectus or Prospectus Supplement); (ii)&nbsp;shall not be available
to the Investor to the extent such Claim is based on a failure of the Investor to deliver or to cause to be delivered the Prospectus
(as amended or supplemented) made available by the Company (to the extent applicable), including, without limitation, a corrected Prospectus,
if such Prospectus (as amended or supplemented) or corrected Prospectus was timely made available by the Company pursuant to Section&nbsp;3(d)&nbsp;and
then only if, and to the extent that, following the receipt of the corrected Prospectus no grounds for such Claim would have existed;
and (iii)&nbsp;shall not apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written consent
of the Company, which consent shall not be unreasonably withheld or delayed. Such indemnity shall remain in full force and effect regardless
of any investigation made by or on behalf of the Investor 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-indent: 0.5in">(b) In connection with any Registration Statement
in which the Investor is participating, the Investor agrees to severally and not jointly indemnify, hold harmless and defend, to the same
extent and in the same manner as is set forth in Section 6(a), the Company, each of its directors, each of its officers who signs the
Registration Statement and each Person, if any, who controls the Company within the meaning of the Securities Act or the Exchange Act
(each, a &ldquo;<B><I>Company Party</I></B>&rdquo;), against any Claim or Indemnified Damages to which any of them may become subject,
under the Securities Act, the Exchange Act or otherwise, insofar as such Claim or Indemnified Damages arise out of or are based upon any
Violation, in each case, to the extent, and only to the extent, that such Violation occurs in reliance upon and in conformity with written
information relating to the Investor furnished to the Company by the Investor expressly for use in connection with such Registration Statement,
the Prospectus included therein or any Prospectus Supplement thereto (it being hereby acknowledged and agreed that the written information
set forth on <U>Exhibit B</U> attached hereto is the only written information furnished to the Company by or on behalf of the Investor
expressly for use in any Registration Statement, Prospectus or Prospectus Supplement); and, subject to Section 6(c) and the below provisos
in this Section 6(b), the Investor shall reimburse a Company Party any legal or other expenses reasonably incurred by such Company Party
in connection with investigating or defending any such Claim; <U>provided</U>, <U>however</U>, the indemnity agreement contained in this
Section 6(b) and the agreement with respect to contribution contained in Section 7 shall not apply to amounts paid in settlement of any
Claim if such settlement is effected without the prior written consent of the Investor, which consent shall not be unreasonably withheld
or delayed; and <U>provided</U><I>, </I><U>further</U> that the Investor shall be liable under this Section 6(b) for only that amount
of a Claim or Indemnified Damages as does not exceed the aggregate discount to the VWAP Purchase Price. Such indemnity shall remain in
full force and effect regardless of any investigation made by or on behalf of such Company Party and shall survive the transfer of any
of the Registrable Securities by the Investor pursuant to Section 9.</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">(c)&nbsp;Promptly after receipt by an Investor
Party or Company Party (as the case may be) under this Section&nbsp;6 of notice of the commencement of any action or proceeding (including,
without limitation, any governmental action or proceeding) involving a Claim, such Investor Party or Company Party (as the case may be)
shall, if a Claim in respect thereof is to be made against any indemnifying party under this Section&nbsp;6, deliver to the indemnifying
party a written notice of the commencement thereof, and the indemnifying party shall have the right to participate in, and, to the extent
the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume control of the defense thereof
with counsel mutually satisfactory to the indemnifying party and the Investor Party or Company Party (as the case may be); <U>provided</U>,
<U>however</U>, an Investor Party or Company Party (as the case may be) shall have the right to retain its own counsel with the fees
and expenses of such counsel to be paid by the indemnifying party if: (i)&nbsp;the indemnifying party has agreed in writing to pay such
fees and expenses; (ii)&nbsp;the indemnifying party shall have failed to promptly assume the defense of such Claim and to employ counsel
reasonably satisfactory to such Investor Party or Company Party (as the case may be) in any such Claim; or (iii)&nbsp;the named parties
to any such Claim (including, without limitation, any impleaded parties) include the Investor Party or Company Party (as the case may
be) and the indemnifying party, and such Investor Party or Company Party (as the case may be) shall have been advised by counsel that
a conflict of interest is likely to exist if the same counsel were to represent such Investor Party or such Company Party and the indemnifying
party, in which case, if such Investor Party or Company Party (as the case may be) notifies the indemnifying party in writing that it
elects to employ separate counsel at the expense of the indemnifying party, then the indemnifying party shall not have the right to assume
the defense thereof on behalf of the indemnified party and such counsel shall be at the expense of the indemnifying party, <U>provided
further</U> that in the case of clause (iii)&nbsp;above the indemnifying party shall not be responsible for the reasonable fees and expenses
of more than one (1)&nbsp;separate legal counsel for all Investor Parties or Company Parties (as the case may be). The Investor Party
or Company Party (as the case may be) shall reasonably cooperate with the indemnifying party in connection with any negotiation or defense
of any such action or Claim by the indemnifying party and shall furnish to the indemnifying party all information reasonably available
to the Investor Party or Company Party (as the case may be) which relates to such action or Claim. The indemnifying party shall keep
the Investor Party or Company Party (as the case may be) reasonably apprised at all times as to the status of the defense or any settlement
negotiations with respect thereto. No indemnifying party shall be liable for any settlement of any action, claim or proceeding effected
without its prior written consent; <U>provided</U>, <U>however</U>, the indemnifying party shall not unreasonably withhold, delay or
condition its consent. No indemnifying party shall, without the prior written consent of the Investor Party or Company Party (as the
case may be), consent to entry of any judgment or enter into any settlement or other compromise which does not include as an unconditional
term thereof the giving by the claimant or plaintiff to such Investor Party or Company Party (as the case may be) of a release from all
liability in respect to such Claim or litigation, and such settlement shall not include any admission as to fault on the part of the
Company Party. For the avoidance of doubt, the immediately preceding sentence shall apply to Sections 6(a)&nbsp;and 6(b)&nbsp;hereof.
Following indemnification as provided for hereunder, the indemnifying party shall be subrogated to all rights of the Investor Party or
Company Party (as the case may be) with respect to all third parties, firms or corporations relating to the matter for which indemnification
has been made. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such
action shall not relieve such indemnifying party of any liability to the Investor Party or Company Party (as the case may be) under this
Section&nbsp;6, except to the extent that the indemnifying party is materially and adversely prejudiced in its ability to defend such
action.</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">(d)&nbsp;The indemnification required by this
Section&nbsp;6 shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as and when
bills are received or Indemnified Damages are incurred; <U>provided</U> that any Person receiving any payment pursuant to this Section&nbsp;6
shall promptly reimburse the Person making such payment for the amount of such payment to the extent a court of competent jurisdiction
determines that such Person receiving such payment was not entitled to such payment.</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">(e)&nbsp;No Person involved in the sale of Registrable
Securities who is guilty of fraudulent misrepresentation (within the meaning of Section&nbsp;11(f)&nbsp;of the Securities Act) in connection
with such sale shall be entitled to indemnification from any Person involved in such sale of Registrable Securities who is not guilty
of fraudulent misrepresentation.</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">(f)&nbsp;The indemnity and contribution agreements
contained herein shall be in addition to (i)&nbsp;any cause of action or similar right of the Company Party or Investor Party against
the indemnifying party or others, and (ii)&nbsp;any liabilities the indemnifying party may be subject to pursuant to the 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; text-indent: 0.5in">(g) No person found guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) in connection with such sale shall be entitled to indemnification from any
Person who was not guilty of such fraudulent misrepresentation.</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: center"><B>ARTICLE&nbsp;VII</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONTRIBUTIONS</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">7. <U>Contribution</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-indent: 0.5in">To the extent any indemnification by an indemnifying
party is prohibited or limited by law, the indemnifying party agrees to make the maximum contribution with respect to any amounts for
which it would otherwise be liable under Section 6 to the fullest extent permitted by law; <U>provided</U>, <U>however</U>: (i) no contribution
shall be made under circumstances where the maker would not have been liable for indemnification under the fault standards set forth in
Section 6 of this Agreement, (ii) no Person involved in the sale of Registrable Securities which Person is guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) in connection with such sale shall be entitled to contribution from any Person
involved in such sale of Registrable Securities who was not guilty of fraudulent misrepresentation; and (iii) contribution by any seller
of Registrable Securities shall be limited in amount to the amount of net proceeds received by such seller from the applicable sale of
such Registrable Securities pursuant to such Registration Statement. Notwithstanding the provisions of this Section 7, the Investor shall
not be required to contribute, in the aggregate, any amount in excess of the aggregate discount to the VWAP Purchase Price subject to
the Claim exceeds the amount of any damages that the Investor has otherwise been required to pay, or would otherwise be required to pay
under Section 6(b), by reason of such untrue or alleged untrue statement or omission or alleged omission.</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>ARTICLE&nbsp;VIII</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORTS UNDER THE EXCHANGE ACT</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">8. <U>Reports Under the Exchange Act</U>. With a view to making available
to the Investor the benefits of Rule&nbsp;144, the Company agrees to:</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">(a)&nbsp;use its commercially reasonable efforts
to make and keep public information available, as those terms are understood and defined in Rule&nbsp;144;</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">(b)&nbsp;use its commercially reasonable efforts
to file with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the
Exchange Act so long as the Company remains subject to such requirements (it being understood that nothing herein shall limit any of
the Company&rsquo;s obligations under the Purchase Agreement) and the filing of such reports and other documents is required for the
applicable provisions of Rule&nbsp;144;</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">(c)&nbsp;furnish to the Investor, promptly upon
request, (i)&nbsp;a written statement by the Company, if true, that it has complied with the reporting, submission and posting requirements
of Rule&nbsp;144 and the Exchange Act, (ii)&nbsp;a copy of the most recent annual report on Form&nbsp;20-F or report on Form&nbsp;6-K
containing interim financial information of the Company and such other reports and documents so filed by the Company with the Commission
if such reports are not publicly available via EDGAR, and (iii)&nbsp;such other information as may be reasonably requested to permit
the Investor to sell such securities pursuant to Rule&nbsp;144 without registration; and</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">(d)&nbsp;take such additional action as is reasonably
requested by the Investor to enable the Investor to sell the Registrable Securities pursuant to Rule&nbsp;144, including, without limitation,
delivering all such legal opinions, consents, certificates, resolutions and instructions to the Company&rsquo;s transfer agent without
unreasonable delay as may be reasonably requested from time to time by the Investor and otherwise fully cooperate with Investor and Investor&rsquo;s
broker in their efforts to effect such sale of securities pursuant to Rule&nbsp;144.</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>ARTICLE&nbsp;IX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ASSIGNMENT OF REGISTRATION RIGHTS</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">9. <U>Assignment of Registration Rights</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-indent: 0.5in">Neither the Company nor the Investor shall assign
this Agreement or any of their respective rights or obligations 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"></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>ARTICLE&nbsp;X</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDMENT OR WAIVER</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">10. <U>Amendment or Waiver</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-indent: 0.5in">No provision of this Agreement may be amended
or waived by the parties from and after the date that is one (1)&nbsp;Trading Day immediately preceding the date of filing of the Initial
Registration Statement with the Commission. Subject to the immediately preceding sentence, no provision of this Agreement may be (i)&nbsp;amended
other than by a written instrument signed by both parties hereto or (ii)&nbsp;waived other than in a written instrument signed by the
party against whom enforcement of such waiver is sought. Failure of any party to exercise any right or remedy under this Agreement or
otherwise, or delay by a party in exercising such right or remedy, shall not operate as a waiver 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; text-align: center"><B>ARTICLE&nbsp;XI</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MISCELLANEOUS</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">11. <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-indent: 0.5in">(a)&nbsp;Solely for purposes of this Agreement,
a Person is deemed to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such Registrable
Securities. If the Company receives conflicting instructions, notices or elections from two or more Persons with respect to the same
Registrable Securities, the Company shall act upon the basis of instructions, notice or election received from such record owner of such
Registrable Securities.</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">(b)&nbsp;Any notices, consents, waivers or other
communications required or permitted to be given under the terms of this Agreement shall be given in accordance with Section&nbsp;10.4
of the Purchase 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; text-indent: 0.5in">(c)&nbsp;Failure of any party to exercise any
right or remedy under this Agreement or otherwise, or delay by a party in exercising such right or remedy, shall not operate as a waiver
thereof. The Company and the Investor acknowledge and agree that irreparable damage would occur in the event that any of the provisions
of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that
either party shall be entitled to an injunction or injunctions to prevent or cure breaches of the provisions of this Agreement by the
other party and to enforce specifically the terms and provisions hereof (without the necessity of showing economic loss and without any
bond or other security being required), this being in addition to any other remedy to which either party may be entitled by law or equity.</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">(d)&nbsp;All questions concerning the construction,
validity, enforcement and interpretation of this Agreement shall be governed by the internal laws of the State of New York, without giving
effect to any choice of law or conflict of law provision or rule&nbsp;(whether of the State of New York or any other jurisdictions) that
would cause the application of the laws of any jurisdictions other than the State of New York. Each party hereby irrevocably submits
to the exclusive jurisdiction of the federal courts sitting in The City of New York, Borough of Manhattan, for the adjudication of any
dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives,
and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such
court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding
is improper. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit,
action or proceeding by mailing a copy thereof to such party at the address for such notices to it under this Agreement and agrees that
such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to
limit in any way any right to serve process in any manner permitted by law. If any provision of this Agreement shall be invalid or unenforceable
in any jurisdiction, such invalidity or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement
in that jurisdiction or the validity or enforceability of any provision of this Agreement in any other jurisdiction. EACH PARTY HEREBY
IRREVOCABLY WAIVES ANY RIGHT IT MAY&nbsp;HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER
OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.</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">(e)&nbsp;The Transaction Documents set forth the
entire agreement and understanding of the parties solely with respect to the subject matter thereof and supersedes all prior and contemporaneous
agreements, negotiations and understandings between the parties, both oral and written, solely with respect to such matters. There are
no promises, undertakings, representations or warranties by either party relative to the subject matter hereof not expressly set forth
in the Transaction Documents. Notwithstanding anything in this Agreement to the contrary and without implication that the contrary would
otherwise be true, nothing contained in this Agreement shall limit, modify or affect in any manner whatsoever (i)&nbsp;the conditions
precedent to a VWAP Purchase contained in Article&nbsp;VII of the Purchase Agreement or (ii)&nbsp;any of the Company&rsquo;s obligations
under the Purchase 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"></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">(f)&nbsp;This Agreement shall inure to the benefit
of and be binding upon the parties hereto and their respective successors. This Agreement is not for the benefit of, nor may any provision
hereof be enforced by, any Person, other than the parties hereto, their respective successors and the Persons referred to in Sections
6 and 7 hereof.</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">(g)&nbsp;The headings in this Agreement are for
convenience of reference only and shall not limit or otherwise affect the meaning hereof. Unless the context clearly indicates otherwise,
each pronoun herein shall be deemed to include the masculine, feminine, neuter, singular and plural forms thereof. The terms &ldquo;including,&rdquo;
 &ldquo;includes,&rdquo; &ldquo;include&rdquo; and words of like import shall be construed broadly as if followed by the words &ldquo;without
limitation.&rdquo; The terms &ldquo;herein,&rdquo; &ldquo;hereunder,&rdquo; &ldquo;hereof&rdquo; and words of like import refer to this
entire Agreement instead of just the provision in which they are found.</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">(h)&nbsp;This Agreement may be executed in two
or more identical counterparts, all of which shall be considered one and the same agreement and shall become effective when counterparts
have been signed by each party and delivered to the other party; <U>provided</U> that a facsimile signature or signature delivered by
e-mail in a &ldquo;.pdf&rdquo; format data file, including any electronic signature complying with the U.S. federal ESIGN Act of 2000,
e.g., www.docusign.com, www.echosign.adobe.com,&nbsp;etc., shall be considered due execution and shall be binding upon the signatory
thereto with the same force and effect as if the signature were an original signature.</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">(i)&nbsp;Each party shall do and perform, or cause
to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments
and documents as any other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement
and the consummation of the transactions contemplated hereby.</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">(j)&nbsp;The language used in this Agreement will
be deemed to be the language chosen by the parties to express their mutual intent and no rules&nbsp;of strict construction will be applied
against any 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"><B>ARTICLE&nbsp;XII</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TERMINATION</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">12. <U>Termination</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-indent: 0.5in">This Agreement shall terminate in its entirety
upon the date on which the Investor shall have sold all the Registrable Securities; provided that the provisions of Sections 4, 6, 7,
9, 10 and 11 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: 0pt 0; text-align: center">[S<I>ignature Pages&nbsp;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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    <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-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>IN
WITNESS WHEREOF</B></FONT>,&nbsp;Investor and the Company have caused their respective signature page&nbsp;to this Registration Rights
Agreement to be duly executed as of the date first written above.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>COMPANY:</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>VERTICAL AEROSPACE LTD.</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp; &nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; font-size: 10pt">By:</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%; font-size: 10pt">/s/ Vincent Casey</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Name: Vincent Casey</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Title:&nbsp;&nbsp;&nbsp;Chief Financial Officer</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>INVESTOR:</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>NOMURA SECURITIES INTERNATIONAL,&nbsp;INC.</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp; &nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">By:</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt">/s/ Paul Robinson</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Name: Paul Robinson</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Title:&nbsp;&nbsp;&nbsp;Managing Director</TD></TR>
  </TABLE>

<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="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; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT&nbsp;A</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>SELLING SECURITYHOLDER</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">This prospectus relates to the possible resale from time to time by
the Selling Securityholder of any or all of the Ordinary Shares that may be issued by us to the Selling Securityholder under the Purchase
Agreement. For additional information regarding the issuance of Ordinary Shares covered by this prospectus, see the section titled &ldquo;Committed
Equity Financing&rdquo; above. We are registering the Ordinary Shares pursuant to the provisions of the Registration Rights Agreement
we entered into with the Selling Securityholder on August 5, 2022 in order to permit the Selling Securityholder to offer the shares
for resale from time to time. Except for the transactions contemplated by the Purchase Agreement and the Registration Rights Agreement
or as otherwise disclosed in this prospectus, Selling Securityholder has not had any material relationship with us within the past three
years.</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 table below presents information regarding the Selling Securityholder
and the Ordinary Shares that it may offer from time to time under this prospectus. This table is prepared based on information supplied
to us by the Selling Securityholder, and reflects holdings as of July 26, 2022. The number of shares in the column &ldquo;Maximum Number
of Ordinary Shares to be Offered Pursuant to this Prospectus&rdquo; represents all of the Ordinary Shares that the Selling Securityholder
may offer under this prospectus. The Selling Securityholder may sell some, all or none of its shares in this offering. We do not know
how long the Selling Securityholder will hold the shares before selling them, and we currently have no agreements, arrangements or understandings
with the Selling Securityholder regarding the sale of any of the shares.</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">Beneficial ownership is determined in accordance with Rule&nbsp;13d-3(d)&nbsp;promulgated
by the SEC under the Exchange Act, and includes Ordinary Shares with respect to which the Selling Securityholder has voting and investment
power. The percentage of Ordinary Shares beneficially owned by the Selling Securityholder prior to the offering shown in the table below
is based on an aggregate of 209,285,392 Ordinary Shares outstanding on July 26, 2022. Because the purchase price of the Ordinary Shares
issuable under the Purchase Agreement is determined on the VWAP Purchase Date with respect to each VWAP Purchase, the number of shares
that may actually be sold by the Company under the Purchase Agreement may be fewer than the number of shares being offered by this prospectus.
The fourth column assumes the sale of all of the shares offered by the Selling Securityholder pursuant to this prospectus.</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; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Number of Ordinary Shares <BR> Owned Prior to<BR> Offering</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Maximum<BR> Number of<BR> Ordinary Shares <BR> to be
    <BR> Offered<BR> Pursuant<BR> to<BR> this</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Number
    of Ordinary Shares<BR> Owned After Offering</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif">Name of Selling Securityholder</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number<SUP>(1)</SUP></B></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Percent<SUP>(2)</SUP></B></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Prospectus</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number<SUP>(3)</SUP></B></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Percent<SUP>(2)</SUP></B></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 39%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nomura
    Securities International,&nbsp;Inc.<SUP>(4)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">150,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">20,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">150,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</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="padding: 0.5pt; width: 4%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD>
    <TD STYLE="padding: 0.5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents
    beneficial ownership of less than 1% of the outstanding Ordinary Shares. </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="padding: 0.5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance
    with Rule&nbsp;13d-3(d)&nbsp;under the Exchange Act, we have excluded from the number of shares beneficially owned prior to the offering
    all of the shares that Nomura may be required to purchase under the Purchase Agreement, because the issuance of such shares is solely
    at our discretion and is subject to conditions contained in the Purchase Agreement, the satisfaction of which are entirely outside
    of Nomura&rsquo;s control, including the registration statement that includes this prospectus becoming and remaining effective. Furthermore,
    the VWAP Purchases of Ordinary Shares are subject to certain agreed upon maximum amount limitations set forth in the Purchase Agreement.
    Also, the Purchase Agreement prohibits us from issuing and selling any Ordinary Shares to Nomura to the extent such shares, when
    aggregated with all other Ordinary Shares then beneficially owned by Nomura, would cause Nomura&rsquo;s beneficial ownership of our
    Ordinary Shares to exceed 4.99%. </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="padding: 0.5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Applicable
    percentage ownership is based on 209,285,392 of our Ordinary Shares outstanding as of July 26, 2022. </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="padding: 0.5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assumes the
    sale of all shares being offered pursuant to this prospectus. </FONT></TD></TR>

</TABLE>

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

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

<!-- Field: Page; Sequence: 15 -->
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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: 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="padding: 0.5pt; width: 4%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="padding: 0.5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nomura is
    a wholly owned subsidiary of Nomura Holdings,&nbsp;Inc. (NYSE: NMR). Nomura Holdings,&nbsp;Inc. is the ultimate parent holding company
    of Nomura, which, in its capacity as a parent company, disclaims beneficial ownership of the Ordinary Shares except to the extent
    of its direct or indirect economic interest in Nomura. The address of Nomura Holdings,&nbsp;Inc. is 13-1, Nihonbashi 1-chome, Chuo-ku,
    Tokyo 103-8645, Japan. The business address of Nomura is 309 West 49th Street, New York, New York 10019. Nomura is</FONT> a FINRA
    member. Nomura is expected to act as an executing broker for the sale of the Ordinary Shares registered hereunder. The receipt by
    Nomura of all the proceeds from sales of Ordinary Shares to the public results in a &ldquo;conflict of interest&rdquo; under FINRA
    Rule&nbsp;5121. Accordingly, such sales will be conducted in compliance with FINRA Rule&nbsp;5121. To the extent that the Ordinary
    Shares do not have a &ldquo;bona fide public market,&rdquo; as defined in FINRA Rule&nbsp;5121, a qualified independent underwriter
    will participate in the preparation of, and exercise the usual standards of &ldquo;due diligence&rdquo; with respect to, the registration
    statement.  Pursuant to FINRA Rule&nbsp;5121, Nomura will not confirm sales of the Ordinary Shares to any account over which it
    exercises discretionary authority without the prior written approval of the customer.</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: center"><B>PLAN OF DISTRIBUTION (CONFLICT OF INTEREST)</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">The Ordinary Shares offered by this prospectus are being offered by
the Selling Securityholder, Nomura. The shares may be sold or distributed from time to time by the Selling Securityholder directly to
one or more purchasers or through brokers, dealers, or underwriters who may act solely as agents at market prices prevailing at the time
of sale, at prices related to the prevailing market prices, at negotiated prices, or at fixed prices, which may be changed. The sale
of our Ordinary Shares offered by this prospectus could be effected in one or more of the following methods:</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>
    <TD STYLE="padding: 0.5pt; width: 5%">&nbsp;</TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; width: 3%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ordinary
    brokers&rsquo; transactions;</FONT></TD></TR>

<TR>
    <TD STYLE="padding: 0.5pt; width: 5%">&nbsp;</TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; width: 3%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">transactions
    involving cross or block trades;</FONT></TD></TR>

<TR>
    <TD STYLE="padding: 0.5pt; width: 5%">&nbsp;</TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; width: 3%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">through
    brokers, dealers, or underwriters who may act solely as agents;</FONT></TD></TR>

<TR>
    <TD STYLE="padding: 0.5pt; width: 5%">&nbsp;</TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; width: 3%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;at
    the market&rdquo; into an existing market for our Ordinary Shares;</FONT></TD></TR>

<TR>
    <TD STYLE="padding: 0.5pt; width: 5%">&nbsp;</TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; width: 3%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">in
    other ways not involving market makers or established business markets, including direct sales to purchasers or sales effected through
    agents;</FONT></TD></TR>

<TR>
    <TD STYLE="padding: 0.5pt; width: 5%">&nbsp;</TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; width: 3%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">in
    privately negotiated transactions; or</FONT></TD></TR>

<TR>
    <TD STYLE="padding: 0.5pt; width: 5%">&nbsp;</TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; width: 3%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="padding: 0.5pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">any
    combination of the foregoing.</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">In order to comply with the securities laws of certain states, if
applicable, the shares may be sold only through registered or licensed brokers or dealers. In addition, in certain states, the shares
may not be sold unless they have been registered or qualified for sale in the state or an exemption from the state&rsquo;s registration
or qualification requirement is available and complied with.</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">Nomura is an &ldquo;underwriter&rdquo; within the meaning of Section&nbsp;2(a)(11)
of the Securities Act.</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">Nomura has informed us that it intends to, on its own behalf, effectuate
all resales, if any, of our Ordinary Shares that it may acquire from us pursuant to the Purchase Agreement. Nomura may also use one or
more registered broker-dealers to effectuate resales, if any, of our Ordinary Shares that it may acquire from us pursuant to the Purchase
Agreement; however, Nomura is under no obligation, and has not expressed any present intent, to do so. Such sales will be made at prices
and at terms then prevailing or at prices related to the then current market price. Each such registered broker-dealer will be an underwriter
within the meaning of Section 2(a)(11) of the Securities Act. Nomura has informed us that any such broker-dealer may receive commissions
from Nomura and, if so, such commissions will not exceed customary brokerage commissions.</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">Brokers, dealers, underwriters or agents participating in the distribution
of our Ordinary Shares offered by this prospectus may receive compensation in the form of commissions, discounts, or concessions from
the purchasers, for whom the broker-dealers may act as agent, of the shares sold by the Selling Securityholder through this prospectus.
The compensation paid to any such particular broker-dealer by any such purchasers of our Ordinary Shares sold by the Selling Securityholder
may be less than or in excess of customary commissions. Neither we nor the Selling Securityholder can presently estimate the amount of
compensation that any agent will receive from any purchasers of Ordinary Shares sold by the Selling Securityholder.</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: 16 -->
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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">We know of no existing arrangements between the Selling Securityholder
or any other shareholder, broker, dealer, underwriter or agent relating to the sale or distribution of our Ordinary Shares offered by
this prospectus.</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">We may from time to time file with the SEC one or more supplements
to this prospectus or amendments to the registration statement of which this prospectus forms a part to amend, supplement or update information
contained in this prospectus, including, if and when required under the Securities Act, to disclose certain information relating to a
particular sale of shares offered by this prospectus by the Selling Securityholder, including the names of any brokers, dealers, underwriters
or agents participating in the distribution of such shares by the Selling Securityholder, any compensation paid by the Selling Securityholder
to any such brokers, dealers, underwriters or agents, and any other required 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">We will pay the expenses incident to the registration under the Securities
Act of the offer and sale of our Ordinary Shares covered by this prospectus by the Selling Securityholder. In addition, we have agreed
to reimburse Nomura up to $75,000 for the fees and disbursements of counsel in connection with the initial transactions contemplated
by the Purchase Agreement and the Registration Rights 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">We also have agreed to indemnify Nomura and certain other persons
against certain liabilities in connection with the offering of our Ordinary Shares offered hereby, including liabilities arising under
the Securities Act or, if such indemnity is unavailable, to contribute amounts required to be paid in respect of such liabilities. Nomura
has agreed to indemnify us against liabilities under the Securities Act that may arise from certain written information furnished to
us by Nomura specifically for use in this prospectus or, if such indemnity is unavailable, to contribute amounts required to be paid
in respect of such liabilities. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to our directors,
officers, and controlling persons, we have been advised that in the opinion of the SEC this indemnification is against public policy
as expressed in the Securities Act and is therefore, unenforceable.</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">We estimate that the total expenses for the offering will be approximately
$[&#9679;]. Nomura has represented to us that at no time prior to the date of the Purchase Agreement has Nomura, or any entity managed
or controlled by Nomura engaged in or effected, directly or indirectly, for its own principal account, any short sale (as such term is
defined in Rule&nbsp;200 of Regulation SHO of the Exchange Act) of our Ordinary Shares or any hedging transaction that establishes a
net short position with respect to our Ordinary Shares. Nomura has agreed that during the term of the Purchase Agreement, none of Nomura,
nor any entity managed or controlled by Nomura will enter into or effect, directly or indirectly, any of the foregoing transactions for
its own principal account or for the principal account of any other such entity.</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">We have advised the Selling Securityholder that it is required to
comply with Regulation M promulgated under the Exchange Act. With certain exceptions, Regulation M precludes the Selling Securityholder,
any affiliated purchasers, and any broker-dealer or other person who participates in the distribution from bidding for or purchasing,
or attempting to induce any person to bid for or purchase any security which is the subject of the distribution until the entire distribution
is complete. Regulation M also prohibits any bids or purchases made in order to stabilize the price of a security in connection with
the distribution of that security. All of the foregoing may affect the marketability of the securities offered by this prospectus.</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">This offering will terminate on the date that all Ordinary Shares
offered by this prospectus have been sold by the Selling Securityholder.</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">Our Ordinary Shares are currently listed on the New York Stock Exchange
under the symbol &ldquo;EVTL&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">Nomura and/or one or more of its affiliates has provided, currently
provides and/or from time to time in the future may provide various investment banking and other financial services for us and/or one
or more of our affiliates that are unrelated to the transactions contemplated by the Purchase Agreement and the offering of shares for
resale by Nomura to which this prospectus relates, for which investment banking and other financial services they have received and may
continue to receive customary fees, commissions and other compensation from us, aside from any discounts, fees and other compensation
that Nomura has received and may receive in connection with the transactions contemplated by the Purchase Agreement, including discounts
to current market prices of our Ordinary Shares reflected in the purchase prices payable by it for Ordinary Shares that we may require
it to purchase from us from time to time under the Purchase 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"></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"><B>Conflict of Interest</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">The Selling Securityholder is a FINRA member. The Selling Securityholder
is expected to act as an executing broker for the sale of the Ordinary Shares pursuant to the Share Purchase Agreement. The receipt by
the Selling Securityholder of all the proceeds from sales of Ordinary Shares to the public results in a &ldquo;conflict of interest&rdquo;
under FINRA Rule&nbsp;5121. Accordingly, such sales will be conducted in compliance with FINRA Rule&nbsp;5121. To the extent that the
Ordinary Shares do not have a &ldquo;bona fide public market,&rdquo; as defined in FINRA Rule&nbsp;5121, a qualified independent underwriter
will participate in the preparation of, and exercise the usual standards of &ldquo;due diligence&rdquo; with respect to, the registration
statement.  Pursuant
to FINRA Rule&nbsp;5121, Selling Securityholder will not confirm sales of the Ordinary Shares to any account over which it exercises
discretionary authority without the prior written approval of the customer.</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 -->
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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: right"><B>EXHIBIT&nbsp;B</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>BUSINESS ADDRESS&nbsp;&amp; REGULATION SHO</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">The business address of Nomura Securities International,&nbsp;Inc.
(&ldquo;Nomura&rdquo;) is 309 West 49th Street, New York, New York 10019. Nomura disclaims any beneficial ownership of the reported shares
other than to the extent of any pecuniary interest it may have therein, directly or indirectly.</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">Nomura has represented to us that at no time prior to the date of
the Purchase Agreement has Nomura or any entity managed or controlled by Nomura engaged in or effected, in any manner whatsoever, directly
or indirectly, for its own principal account, any short sale (as such term is defined in Rule&nbsp;200 of Regulation SHO of the Exchange
Act) of our ordinary shares or any hedging transaction, which establishes a net short position with respect to our ordinary shares. Nomura
has agreed that during the term of the Purchase Agreement, neither Nomura, nor any entity managed or controlled by Nomura, will enter
into or effect, directly or indirectly, any of the foregoing transactions for its own principal account or for the principal account
of any other such entity.</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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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
