<SEC-DOCUMENT>0001213900-21-019229.txt : 20210331
<SEC-HEADER>0001213900-21-019229.hdr.sgml : 20210331
<ACCEPTANCE-DATETIME>20210331161532
ACCESSION NUMBER:		0001213900-21-019229
CONFORMED SUBMISSION TYPE:	POS AM
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20210331
DATE AS OF CHANGE:		20210331

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CuriosityStream Inc.
		CENTRAL INDEX KEY:			0001776909
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MOTION PICTURE & VIDEO TAPE PRODUCTION [7812]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		POS AM
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-250822
		FILM NUMBER:		21793488

	BUSINESS ADDRESS:	
		STREET 1:		8484 GEORGIA AVE.
		STREET 2:		SUITE 700
		CITY:			SILVER SPRING
		STATE:			MD
		ZIP:			20910
		BUSINESS PHONE:		301-755-2050

	MAIL ADDRESS:	
		STREET 1:		8484 GEORGIA AVE.
		STREET 2:		SUITE 700
		CITY:			SILVER SPRING
		STATE:			MD
		ZIP:			20910

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Software Acquisition Group Inc.
		DATE OF NAME CHANGE:	20190515
</SEC-HEADER>
<DOCUMENT>
<TYPE>POS AM
<SEQUENCE>1
<FILENAME>ea138522-posam_curiosity.htm
<DESCRIPTION>POST-EFFECTIVE AMENDMENT NO. 1 TO FORM S-1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>As filed with the U.S. Securities
and Exchange Commission on <FONT STYLE="font-family: Times New Roman, Times, Serif">March 31, 2021</FONT></B> </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"> <B>Registration No. 333-250822</B> </P>

<!-- Field: Rule-Page --><DIV STYLE="width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>UNITED
STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>POST-EFFECTIVE AMENDMENT NO. 1</B> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>FORM
S-1<BR>
REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Exact
name of registrant as specified in our charter)</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 32%; padding-right: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware
    </B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>7812</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>84-1797523</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or Other Jurisdiction
    of <BR>
    Incorporation or Organization)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Primary Standard
    Industrial <BR>
    Classification Code Number)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S. Employer
    <BR>
    Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>8484
Georgia Ave., Suite 700<BR>
Silver Spring, Maryland 20910<BR>
(301) 755-2050</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Address,
including zip code, and telephone number, including area code, of registrant&rsquo;s principal executive offices)</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Tia
Cudahy<BR>
Chief Operating Officer, General Counsel and Secretary<BR>
8484 Georgia Ave., Suite 700<BR>
Silver Spring, Maryland 20910<BR>
(301) 755-2050</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Name,
address, including zip code, and telephone number, including area code, of agent for service)</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Christopher
Peterson<BR>
Arnold &amp; Porter<BR>
250 West 55 Street<BR>
New York, New York 10019</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Approximate
date of commencement of proposed sale to the public: As soon as practicable after the effective date of this registration statement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under
the Securities Act of 1933 check the following box:&nbsp;&#9746;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please
check the following box and list the Securities Act registration statement number of the earlier effective registration statement
for the same offering.&nbsp;&#9744;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list
the Securities Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;&#9744;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list
the Securities Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;&#9744;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company, or an emerging growth company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo;
&ldquo;smaller reporting company&rdquo; and &ldquo;emerging growth company&rdquo; in Rule 12b-2 under the Securities Exchange
Act of 1934:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large&nbsp;accelerated&nbsp;filer</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated&nbsp;filer</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated&nbsp;filer</FONT></TD>
    <TD>&#9746;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller&nbsp;reporting&nbsp;company</FONT></TD>
    <TD>&#9746;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging&nbsp;growth&nbsp;company</FONT></TD>
    <TD>&#9746;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.&nbsp;&#9744;</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: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>The
registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until
the registrant shall file a further amendment that specifically states that this registration statement shall thereafter become
effective in accordance with Section 8(a) of the Securities Act or until the registration statement shall become effective on
such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.</B></FONT></P>

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

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

<!-- Field: Rule-Page --><DIV STYLE="width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; 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-align: justify"> &nbsp; </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 24pt"> <B>EXPLANATORY NOTE</B> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> On November 20,
2020, the registrant filed a Registration Statement on Form&nbsp;S-1 (Registration No.&nbsp;333-250822), which was subsequently
declared effective by the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;) on December 2, 2020 (the &ldquo;Registration
Statement&rdquo;). </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> This post-effective
amendment is being filed to update the Registration Statement to include information contained in the registrant&rsquo;s Annual
Report on Form&nbsp;10-K and certain other information in such Registration Statement. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> No additional securities
are being registered under this post-effective amendment. All applicable registration fees were paid at the time of the original
filing of the Registration Statement. </P>

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


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; 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: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Red"><B>The
information in this prospectus is not complete and may be changed. The selling securityholders may not sell these securities until
the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to
sell these securities and is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <FONT STYLE="text-transform: uppercase"><B>Subject
to Completion, Dated MARCH 31, 2021</B></FONT> </P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="img_001.jpg" ALT=""></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B>CuriosityStream
Inc.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Secondary
Offering of</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I></I>13,893,093 Shares of Common Stock</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">This prospectus relates to the resale or distribution from time
to time by the selling securityholders named in this prospectus or their permitted transferees of up to 13,893,093 shares of our
Common Stock, par value $0.0001 per share (&ldquo;Common Stock&rdquo;), issued to the selling securityholders in connection with
the consummation of the Business Combination (as hereinafter defined).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
selling securityholders may offer, sell or distribute all or a portion of the securities hereby registered publicly or through
private transactions at prevailing market prices or at negotiated prices. We will not receive any of the proceeds from such sales.
We will bear all costs, expenses and fees in connection with the registration of these securities, including with regard to compliance
with state securities or &ldquo;blue sky&rdquo; laws. The selling securityholders will bear all commissions and discounts, if
any, attributable to their sale of any of the securities. See &ldquo;<I>Plan of Distribution</I>&rdquo;.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are an &ldquo;emerging growth company&rdquo; as defined in Section 2(a) of the Securities Act of 1933, as amended (the &ldquo;Securities
Act&rdquo;), and are subject to reduced public company reporting requirements.</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Common Stock is traded on The Nasdaq Capital Market (the &ldquo;NASDAQ&rdquo;) under the symbol &ldquo;CURI.&rdquo; On March 30,
2021, the last reported sale price of our Common Stock was $12.62 per share.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Investing
in our securities involves a high degree of risk. See &ldquo;<I>Risk Factors</I>&rdquo; beginning on page 6 of this prospectus.</B></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Neither
the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or
passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>The date of this prospectus is &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2021</B> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; 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-align: center"></P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>TABLE
OF CONTENTS</B></FONT></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="width: 90%; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; width: 10%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Page</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_001">ABOUT THIS PROSPECTUS</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_002">TRADEMARKS, SERVICE MARKS AND TRADE NAMES</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">iii</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_003">INDUSTRY AND MARKET DATA</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">iii</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_004">CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">iv</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_005">CERTAIN DEFINED TERMS</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">vi</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_006">PROSPECTUS SUMMARY</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_007">RISK FACTORS</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">6</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_008">USE OF PROCEEDS</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">30</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_009">MARKET FOR OUR SECURITIES</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">30</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_010">DIVIDEND POLICY</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">30</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_012">MANAGEMENT&rsquo;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">30</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_013">BUSINESS</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">39</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_016">UNAUDITED PRO FORMA COMBINED FINANCIAL INFORMATION</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">46</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_017">MANAGEMENT</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">51</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_018">CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">57</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_019">EXECUTIVE COMPENSATION</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">60</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_020">BENEFICIAL OWNERSHIP OF SECURITIES</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">74</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_021">DESCRIPTION OF SECURITIES</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">76</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_022">SELLING SECURITYHOLDERS</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">83</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_023">PLAN OF DISTRIBUTION</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">87</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_024">UNITED STATES FEDERAL INCOME TAX CONSIDERATIONS</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">89</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_025">LEGAL MATTERS</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">93</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_026">EXPERTS</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">93</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_027">WHERE YOU CAN FIND MORE INFORMATION</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">93</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_028">INDEX TO FINANCIAL STATEMENTS</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-1</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>You
should rely only on the information contained in this prospectus, any supplement to this prospectus or in any free writing prospectus,
filed with the Securities and Exchange Commission. Neither we nor the selling securityholders have authorized anyone to provide
you with additional information or information different from that contained in this prospectus filed with the Securities and
Exchange Commission. We take no responsibility for, and can provide no assurance as to the reliability of, any other information
that others may give you. The selling securityholders are offering to sell, and seeking offers to buy, our securities only in
jurisdictions where offers and sales are permitted. The information contained in this prospectus is accurate only as of the date
of this prospectus, regardless of the time of delivery of this prospectus or any sale of our securities. Our business, financial
condition, results of operations and prospects may have changed since that date.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For
investors outside the United States: neither we nor the selling securityholders, have done anything that would permit this offering
or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in
the United States. Persons outside the United States who come into possession of this prospectus must inform themselves about,
and observe any restrictions relating to, the offering of our securities and the distribution of this prospectus outside the United
States.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>To
the extent there is a conflict between the information contained in this prospectus, on the one hand, and the information contained
in any document incorporated by reference filed with the Securities and Exchange Commission before the date of this prospectus,
on the other hand, you should rely on the information in this prospectus. If any statement in a document incorporated by reference
is inconsistent with a statement in another document incorporated by reference having a later date, the statement in the document
having the later date modifies or supersedes the earlier statement.</B></FONT></P>

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

<!-- Field: Page; Sequence: 4; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->i<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; 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-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_001"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ABOUT
THIS PROSPECTUS</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">This
prospectus is part of a registration statement on Form&nbsp;S-1&nbsp;that we filed with the Securities and Exchange Commission
(the &ldquo;SEC&rdquo;) using a &ldquo;shelf&rdquo; registration process. Under this shelf registration process, the selling securityholders
may, from time to time, offer and sell, as applicable, the securities described in this prospectus in one or more offerings. The
selling securityholders may use the shelf registration statement to sell up to an aggregate of </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">13,893,093
<FONT STYLE="background-color: white">shares of Common Stock from time to time through any means described in the section entitled
&ldquo;<I>Plan of Distribution</I>.&rdquo; More specific terms of any securities that the selling securityholders offer and sell
may be provided in a prospectus supplement that describes, among other things, the specific amounts and prices of the Common Stock
being offered and the terms of the offering.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">A
prospectus supplement or post-effective amendment may also add, update or change information included in this prospectus. Any
statement contained in this prospectus will be deemed to be modified or superseded for purposes of this prospectus to the extent
that a statement contained in such prospectus supplement or post-effective amendment modifies or supersedes such statement. Any
statement so modified will be deemed to constitute a part of this prospectus only as so modified, and any statement so superseded
will be deemed not to constitute a part of this prospectus. You should rely only on the information contained in this prospectus,
any applicable prospectus supplement, post-effective amendment or any related free writing prospectus. See &ldquo;<I>Where You
Can Find More Information.</I>&rdquo;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Neither
we nor the selling securityholders have authorized anyone to provide any information or to make any representations other than
those contained in this prospectus, any accompanying prospectus supplement or any free writing prospectus we have prepared. We
and the selling securityholders take no responsibility for, and can provide no assurance as to the reliability of, any other information
that others may give you. This prospectus is an offer to sell only the securities offered hereby and only under circumstances
and in jurisdictions where it is lawful to do so. No dealer, salesperson or other person is authorized to give any information
or to represent anything not contained in this prospectus, any applicable prospectus supplement or any related free writing prospectus.
This prospectus is not an offer to sell securities, and it is not soliciting an offer to buy securities, in any jurisdiction where
the offer or sale is not permitted. You should assume that the information appearing in this prospectus or any prospectus supplement
is accurate only as of the date on the front of those documents only, regardless of the time of delivery of this prospectus or
any applicable prospectus supplement, or any sale of a security. Our business, financial condition, results of operations and
prospects may have changed since those dates.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
prospectus contains summaries of certain provisions contained in some of the documents described herein, but reference is made
to the actual documents for complete information. All of the summaries are qualified in their entirety by the actual documents.
Copies of some of the documents referred to herein have been filed, will be filed or will be incorporated by reference as exhibits
to the registration statement of which this prospectus is a part, and you may obtain copies of those documents as described below
under &ldquo;<I>Where You Can Find More Information</I>.&rdquo;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> On October 14, 2020 (the
&ldquo;Closing Date&rdquo;), CuriosityStream Inc., a Delaware corporation (formerly named Software Acquisition Group Inc.) (the &ldquo;Company&rdquo;),
consummated the previously announced merger pursuant to that certain Agreement and Plan of Merger (the &ldquo;Merger Agreement&rdquo;),
dated August 10, 2020, by and among the Company, CS Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of the Company
(&ldquo;Merger Sub&rdquo;), CuriosityStream Operating Inc., a Delaware corporation (re-named Curiosity Inc. following the Business Combination)
(&ldquo;Legacy CuriosityStream&rdquo;), and Hendricks Factual Media LLC, a Delaware limited liability company (&ldquo;HFM&rdquo;). The
transactions contemplated by the Merger Agreement are referred to herein as the &ldquo;Business Combination.&rdquo; </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Upon
the consummation of the Business Combination, Merger Sub merged with and into Legacy CuriosityStream, with Legacy CuriosityStream
surviving the merger in accordance with the Delaware General Corporation Law as a wholly-owned subsidiary of the Company (the
&ldquo;Merger&rdquo; and, the completion of the Merger, the &ldquo;Closing&rdquo;). In connection with the Closing, the Company
changed its name from &ldquo;Software Acquisition Group Inc.&rdquo; to &ldquo;CuriosityStream Inc.&rdquo; Unless the context otherwise
requires, the &ldquo;Company&rdquo; refers to the registrant and its subsidiaries, including Legacy CuriosityStream, after the
Closing, and &ldquo;SAQN&rdquo; refers to the registrant prior the Closing.</FONT></P>

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

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

<!-- Field: Page; Sequence: 5; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->ii<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; 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-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_002"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>TRADEMARKS,
SERVICE MARKS AND TRADE NAMES</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
prospectus contains some of our trademarks, service marks and trade names, including, among others, CuriosityStream. Each one
of these trademarks, service marks or trade names is either (1)&nbsp;our registered trademark, (2)&nbsp;a trademark for which
we have a pending application, or (3)&nbsp;a trade name or service mark for which we claim common law rights. All other trademarks,
trade names or service marks of any other company appearing in this prospectus belong to their respective owners. Solely for convenience,
the trademarks, service marks and trade names referred to in this prospectus are presented without the TM, SM and symbols, but
such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law,
our respective rights or the rights of the applicable licensors to these trademarks, service marks and trade names.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_003"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>INDUSTRY
AND MARKET DATA</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
market data and certain other statistical information used throughout this prospectus are based on independent industry publications,
government publications and other published independent sources. Although we believe these third-party sources are reliable as
of their respective dates, neither we nor the selling securityholders have independently verified the accuracy or completeness
of this information. Some data is also based on our good faith estimates. While we are not aware of any misstatements regarding
our industry data presented herein, our estimates involve risks and uncertainties and are subject to change based on various factors,
including those discussed under &ldquo;<I>Risk Factors</I>&rdquo;. These and other factors could cause results to differ materially
from those expressed in these publications.</FONT></P>

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

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

<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->iii<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; 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-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_004"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>CAUTIONARY
STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company makes certain forward-looking statements in this prospectus. All statements, other than statements of present or historical
fact included in or incorporated by reference in this prospectus, regarding the Company&rsquo;s future financial performance,
as well as the Company&rsquo;s strategy, future operations, financial position, estimated revenues, and losses, projected costs,
prospects, plans and objectives of management are forward-looking statements. When used in this prospectus, the words &ldquo;could,&rdquo;
&ldquo;should,&rdquo; &ldquo;will,&rdquo; &ldquo;may,&rdquo; &ldquo;believe,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;intend,&rdquo;
&ldquo;estimate,&rdquo; &ldquo;expect,&rdquo; &ldquo;project,&rdquo; the negative of such terms and other similar expressions
are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words.
These forward-looking statements are based on management&rsquo;s current expectations and assumptions about future events and
are based on currently available information as to the outcome and timing of future events. The Company cautions you that these
forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many
of which are beyond the control of the Company, incident to its business.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">These
forward-looking statements are based on information available as of the date of this prospectus, and current expectations, forecasts
and assumptions, and involve a number of risks and uncertainties. Accordingly, forward-looking statements should not be relied
upon as representing the Company&rsquo;s views as of any subsequent date, and the Company does not undertake any obligation to
update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new
information, future events or otherwise, except as may be required under applicable securities laws. Forward-looking statements
contained in this prospectus include, but are not limited to, statements about the ability of the Company to:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">attract
and retain sponsors;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">effectively
market for online sponsorship;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">anticipate
trends in video consumption;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">significantly
increase its subscriber base and retain subscribers;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">increase
its subscriber hours</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">compete
for subscribers and sponsorship spending with other content services;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"> &nbsp; </TD>
    <TD STYLE="width: 24px; font-size: 10pt"> <FONT STYLE="font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">meet future liquidity requirements and comply
    with restrictive covenants related to long-term indebtedness;</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">continue operating under existing laws and licensing regimes;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">license
content at favorable rates;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">anticipate
the uncertainties inherent in the development of new business lines and business strategies;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">retain
and hire necessary employees;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">increase
brand awareness;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">expand
its ecosystem with third-party and proprietary devices;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">attract,
train and retain effective officers, key employees or directors;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">upgrade
and maintain information technology systems;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">acquire
and protect intellectual property;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">effectively
respond to general economic and business conditions;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">maintain
the listing on the NASDAQ;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">obtain
additional capital, including use of the debt market;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">enhance
future operating and financial results;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">meet
international and education market expansion plans;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"></P>

<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->iv<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; 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 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">anticipate
rapid technological changes;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">comply
with laws and regulations applicable to its business;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">stay
abreast of modified or new laws and regulations applying to its business, including copy-right and privacy regulation;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">anticipate
the impact of, and response to, new accounting standards;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">respond
to fluctuations in foreign currency exchange rates and political unrest and regulatory changes in international markets from various
events;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">negotiate
content agreements;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">anticipate
the significance and timing of contractual obligations;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif">obtain
                                            content despite continued consolidation of distribution customers and production studios;</FONT> </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">effectively
invest in content and marketing, including investments in original programming;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">maintain
key strategic relationships with partners and distributors;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">anticipate
member viewing patterns and other uncertainties associated with product and ser-vice development and market acceptance;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">respond
to uncertainties associated with product and service development and market acceptance;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif">anticipate
                                         the impact of new U.S. federal income tax laws, including the impact on deferred tax
                                         assets; and</FONT> </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif">successfully
                                         defend litigation.</FONT> </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
a result of a number of known and unknown risks and uncertainties, the Company&rsquo;s actual results or performance may be materially
different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to
differ include:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
Company&rsquo;s financial performance;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">changes
in the Company&rsquo;s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects
and plans;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">adverse
effects that the novel coronavirus (COVID-19) may have on the Company and/or the economy in general;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">changes
in applicable laws or regulations;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
possibility that the Company may be adversely affected by other economic, business, and/or competitive factors;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
availability of, and the Company&rsquo;s ability to execute upon, any expansion plans and opportunities; and</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif">other
                                         risks and uncertainties set forth in &ldquo;<I>Risk Factors</I>.&rdquo;</FONT> </TD>
</TR></TABLE>

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

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

<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->v<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; 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-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_005"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>CERTAIN
DEFINED TERMS</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Unless
otherwise stated or unless the context otherwise requires, the terms &ldquo;we,&rdquo; &ldquo;us&rdquo; or &ldquo;our&rdquo; refer
to the Company and its subsidiaries unless the context requires otherwise.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
this prospectus, unless otherwise stated or unless the context otherwise requires:</FONT></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;App Services&rdquo; means applications
developed for iOS, Android, streaming media player and smart tv operating systems. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Board&rdquo; means the board
of directors of the Company. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Bundled MVPD Business&rdquo;
refers to our ability to convey a broad scope of rights, including 24/7 &ldquo;linear&rdquo; channels, on-demand content library,
mobile rights and/or pricing and packaging flexibility, in exchange for an annual fixed fee or fee per subscriber as part of a
multi-year agreement. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Bundled MVPD Partners&rdquo;
means affiliate relationships with MVPDs, broadband and wireless companies in the U.S. and international territories. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Business Combination&rdquo;
means the acquisitions and transactions contemplated by the Merger Agreement. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Bylaws&rdquo; means the Amended
and Restated Bylaws of CuriosityStream Inc. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Charter&rdquo; means the Second
Amended and Restated Certificate of Incorporation of CuriosityStream Inc. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Common Stock&rdquo; means the
Common Stock of the Company, par value $0.0001 per share. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Code&rdquo; means the Internal
Revenue Code of 1986, as amended. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;CSR&rdquo; means corporate and
social responsibility. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Legacy CuriosityStream&rdquo;
means Curiosity Inc., a Delaware corporation (formerly named CuriosityStream Operating Inc., and prior to the consummation of
the Business Combination, CuriosityStream Inc.). </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;DGCL&rdquo; means the Delaware
General Corporation Law. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Direct Service&rdquo; or &ldquo;Direct
Business&rdquo; means App Services together with O&amp;O Service. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Exchange Act&rdquo; means the
Securities Exchange Act of 1934, as amended. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;GAAP&rdquo; means United&nbsp;States
generally accepted accounting principles, consistently applied, as in effect from time to time. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;IPO&rdquo; means SAQN&rsquo;s
initial public offering of Units consummated on November 22, 2019. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;JOBS Act&rdquo; means the Jumpstart
Our Business Startups Act of 2012, as amended. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;LIBOR&rdquo; means the London
Interbank Offered Rate. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Merger&rdquo; means the merger
of Merger Sub with and into Legacy CuriosityStream. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Merger Sub&rdquo; means CS Merger
Sub, Inc., a Delaware corporation. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;MVPDs&rdquo; means multichannel
video programming distributors. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;NASDAQ&rdquo; means The Nasdaq
Capital Market. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;O&amp;O Service&rdquo; means
our owned and operated website. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Omnibus Incentive Plan&rdquo;
means our 2020 Omnibus Incentive Plan. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Partner
Direct Service&rdquo; or &ldquo;Partner Direct Business&rdquo; means, collectively, MVPDs that include Comcast, Cox, Dish and
NCTC and vMVPDs and digital distributors that include Amazon Prime Video Channels, Roku Channels, Sling TV and YouTube TV. </P>

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

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

<!-- Field: Page; Sequence: 9; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->vi<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; 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-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;PIPE&rdquo; means the issuance
and sale to the PIPE Investors, an aggregate of 2,500,000 shares of Common Stock for an aggregate purchase price of $25,000,000
pursuant to Subscription Agreements between the Company and the PIPE Investors. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;PIPE Investors&rdquo; means
certain third-party investors in the PIPE. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;PIPE Warrants&rdquo; means the
353,000 warrants issued to PIPE Investors in connection with our Business Combination. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Private Placement Warrants&rdquo;
means the 3,676,000 warrants issued to Software Acquisition Holdings LLC in a private placement that closed concurrently with
our IPO. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Program Sales Business&rdquo;
means CuriosityStream&rsquo;s program sales. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Public Warrants&rdquo; means
the 7,475,000 warrants sold as part of the Units in the IPO. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;SAQN&rdquo; means Software Acquisition
Group Inc. prior to the consummation of the Business Combination. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Sarbanes-Oxley Act&rdquo; means
the Sarbanes-Oxley Act of 2002, as amended. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;SEC&rdquo; means the U.S. Securities
and Exchange Commission. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Securities Act&rdquo; means
the Securities Act of 1933, as amended. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Sponsor&rdquo; means the Company&rsquo;s
former sponsor, Software Acquisition Group LLC. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Sponsorship&nbsp;&amp; Advertising
Business&rdquo; means the Company developing integrated digital brand partnerships. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;SVoD&rdquo; means subscription
video on-demand. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Trust Account&rdquo; means the
trust account established in connection with the IPO. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Units&rdquo; means the units
of SAQN, each consisting of one share of Common Stock and one-half of one Warrant, with each such Public Warrant entitling the
holder thereof to purchase one share of Common Stock at a price of $11.50 per share, subject to certain adjustments. On October
14, 2020, the Company&rsquo;s Common Stock and Public Warrants were listed on NASDAQ under the new trading symbols of &ldquo;CURI&rdquo;
and &ldquo;CURIW,&rdquo; respectively, and all of SAQN&rsquo;s units separated into their component parts of (i)&nbsp;one share
of Common Stock and (ii)&nbsp;one-half (1/2) of one warrant and ceased trading on NASDAQ. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;vMVPDs&rdquo; means virtual
MVPDs. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Warrants&rdquo; means the Private
Placement Warrants, the PIPE Warrants and Public Warrants. </P>

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

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

<!-- Field: Page; Sequence: 10; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->vii<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<DIV STYLE="padding: 5pt; border: Black 1.5pt solid">

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_006"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>PROSPECTUS
SUMMARY</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> <I>The following
summary highlights selected information contained elsewhere in this prospectus and does not contain all of the information that
you should consider in making your investment decision. <FONT STYLE="font-family: Times New Roman, Times, Serif">This summary
is qualified in its entirety by the more detailed information included in this prospectus. </FONT>Before investing in our securities,
you should carefully read this entire prospectus, including the consolidated financial statements and the related notes included
in this prospectus and the information set forth under &ldquo;Risk Factors&rdquo; and &ldquo;Management&rsquo;s Discussion and
Analysis of Financial Condition and Results of Operations.&rdquo;</I> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Created by John
Hendricks, founder of the Discovery Channel and former Chairman of Discovery Communications, we are a media and entertainment
company that offers premium video programming across the principal categories of factual entertainment, including science, history,
society, nature, lifestyle and technology. Our mission is to provide premium factual entertainment that informs, enchants and
inspires. We are seeking to meet demand for high-quality factual entertainment via SVoD platforms, as well as via bundled content
licenses for SVoD and linear offerings, partner bulk sales, brand partnerships and content sales. We are well-positioned for growth
as a digital-native video platform monetizing content across this broad revenue stack. </P>

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> Through the rapid expansion of our library
of high-quality titles and by exploiting multiple channels to monetize our programming, we believe that we have achieved global
leadership in factual content streaming, and are well positioned to capitalize on favorable ongoing industry trends to create
value for our shareholders and other stakeholders. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our award-winning
content library features more than 3,100 nonfiction episodes, including more than 1,000 original, commissioned or co-produced
documentaries, of short-form, mid-form and long-form duration with an estimated $1 billion original production value. Our films
are produced, co-produced or commissioned by us, or licensed through one of our content partnerships, such as with NHK in Japan,
ZED in France and Terra Mater in Austria. Our programs are hosted by and feature scientists, experts and celebrities such as Stephen
Hawking, Sir David Attenborough and Sigourney Weaver. Our programs have already received three Emmy nominations, including an
Emmy Award win for Stephen Hawking&rsquo;s Favorite Places. Every title on our platform is available on-demand and, other than
historical footage or classic documentaries, in high definition or 4K quality. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our content<FONT STYLE="font-family: Times New Roman, Times, Serif">,
</FONT>approximately one-third of which is originally produced with the remaining two-thirds consisting of licensed programming,
is available directly through our O&amp;O Service and mobile applications developed for iOS and Android operating systems (&ldquo;App
Services,&rdquo; and, together with O&amp;O Service, &ldquo;Direct Service&rdquo; or &ldquo;Direct Business&rdquo;). Our App Services
enable access to CuriosityStream on almost every major consumer device, including streaming media players like Roku, Apple TV
and Amazon Fire TV, all major smart TV brands (e.g., LG, Vizio, Samsung, Sony) and gaming consoles like Xbox. In addition, we
have affiliate agreement relationships with, and our service is available directly from, MVPDs that include Comcast, Cox, Dish
and NCTC and vMVPDs and digital distributors that include Amazon Prime Video Channels, Roku Channels, Sling TV and YouTube TV
(collectively, &ldquo;Partner Direct Service&rdquo; or &ldquo;Partner Direct Business&rdquo;). </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our Direct Service
is available in more than 175 countries to any household with a broadband connection for $2.99 per month or $19.99 per year for
high definition resolution. We also provide a premium service in 4K resolution for $9.99 per month or $69.99 per year. Over 75%
of Direct Service subscribers select annual subscription plans, which has reduced subscriber churn and facilitates our ability
to learn and serve consumer preferences. The MVPD, vMVPD and digital distributor partners making up our Partner Direct Business
pay us a subscription fee for sales to individuals who subscribe to CuriosityStream via the partners&rsquo; respective platforms. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The technology
associated with our Direct Business is designed to facilitate a consistent user experience across the different interface platforms
and operating system applications. We provide value for both our users and ourselves through our analytics algorithm and data
collection system. Leveraging our database of anonymized user preferences, ratings and behavior, we are constantly refining our
content recommendation engine to suggest and serve content to our customers. </P>



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

</DIV>

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

<!-- Field: Page; Sequence: 11; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<DIV STYLE="padding: 5pt; border: Black 1.5pt solid">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif">In
addition to our Partner Direct Services and Businesses, we have affiliate relationships with MVPDs, broadband and wireless companies
in the US and international territories (&ldquo;Bundled MVPD Partners&rdquo;) to whom we can offer a broad scope of rights, including
24/7 &ldquo;linear&rdquo; channels, our on-demand content library, mobile rights and pricing and packaging flexibility, in exchange
for an annual fixed fee or fee per subscriber as part of a multi-year agreement (&ldquo;Bundled MVPD Business&rdquo;). The Bundled
MVPD Business offers us the advantages of long-cycle and recurring revenue and the potential to access hundreds of millions of
paying subscribers globally. As a young and digital-native company, we are not laden with some of the overhead costs nor over-dependent
on lines of business that may hamper the growth of legacy media companies. We are consequently able to offer Bundled MVPD Partners
more attractive rates than well-known conglomerates, meeting the Bundled MVPD Partners&rsquo; need to cut costs in their business
without losing quantity or quality of factual content.</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif"> </FONT></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> Our Corporate &amp;
Association Partnerships business has been comprised primarily of selling subscriptions in bulk to companies and organizations
that in turn offer these subscriptions to their employees and members as an employment benefit or &ldquo;gift of curiosity.&rdquo;
As a family-friendly and enriching service, we are well-positioned among media companies to continue to build our roster of customers
in this model. We see an even bigger opportunity with corporations and associations, however, via multi-year integrated partnerships
where we create and distribute content in support of these partners&rsquo; corporate and social responsibility (&ldquo;CSR&rdquo;)
and membership initiatives. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> Our sponsorship
and advertising line of business (the &ldquo;Sponsorship &amp; Advertising Business&rdquo;) consists of developing integrated
digital brand partnerships designed to offer blue chip brands the chance to be associated with CuriosityStream content in a variety
of forms, including short and long form program integration, branded social media promotional videos, broadcast advertising spots,
and digital display ads. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> The fifth line of
business in our revenue stack is program sales (&ldquo;Program Sales Business&rdquo;), which is focused on providing factual content
to entertainment media companies. We have the opportunity to provide a turnkey, financially attractive &ldquo;factual solution&rdquo;
to meet this business demand. We are able to sell to certain media companies a collection of our existing titles in a traditional
program sales deal and are party to a multi-year, multi-million dollar program sales agreement with one such media company. We
are also able to sell selected rights (such as in territories or on platforms that are lower priority for us) to content we create
before we even begin production. This latter model reduces risk in our content development decisions and creates program sales
revenue. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif">The
most basic functional structure of our company thrives due to the collaboration of (1)&nbsp;our content team, which works with
more than 150 production companies and distributors across the world to create and acquire programming, (2)&nbsp;our legal and
finance teams, which structure and formalize agreements, (3)&nbsp;our creative services and content operations teams, which develop
all of the marketing materials, metadata and other assets associated with a piece of content, and (4)&nbsp;our content operations
and technology teams, which then deliver our content and services to all manner of devices and streaming platforms for our Direct,
Partner Direct, Bundled MVPD and other businesses.</FONT> </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> Our revenue for
the year ended December 31, 2020 was $39.6 million. Our net loss for the year ended December 31, 2020 was $38.6 million. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 12; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;&nbsp;</P>


<DIV STYLE="padding: 5pt; border: Black 1.5pt solid">

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>The
Business Combination</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
were originally known as Software Acquisition Group Inc. (&ldquo;SAQN&rdquo;), a special purpose acquisition company, which completed
its initial public offering in November&nbsp;2019. On October 14, 2020, SAQN consummated the merger of its wholly owned subsidiary
with and into CuriosityStream Inc. (&ldquo;Legacy CuriosityStream&rdquo;), pursuant to an Agreement and Plan of Merger dated as
of August 10, 2020, among SAQN, Legacy CuriosityStream and certain other parties thereto. In connection with the closing of the
Business Combination, SAQN changed its name to CuriosityStream Inc.</FONT></P>

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

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> Investing in our
Common Stock involves a high degree of risk. If risks described under the heading &ldquo;Risk Factors&rdquo; included in this
prospectus occur, they may cause us not to realize the full benefits of our strengths or may cause us to be unable to successfully
execute all or part of our strategy. Some of the most significant challenges and risks we face include the following: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>If
    our efforts to attract and retain users are not successful, our business will be adversely affected;</I></FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>We
    have a limited operating history and history of net losses, and we anticipate that we will experience net losses for the foreseeable
    future;</I></FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Our
    operating results are expected to be difficult to predict based on a number of factors that also will affect our long-term
    performance;</I></FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Certain
    of our growth strategies are untested, unproven or not yet fully developed;</I></FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>If
    we experience excessive rates of user churn, our revenues and business will be harmed;</I></FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&#9679;</I></FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>If
    our efforts to build strong brand identity and improve user satisfaction and loyalty are not successful, we may not be able
    to attract or retain users, and our operating results will be affected adversely;</I></FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&#9679;</I></FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>We
    may be unable to compete successfully against current and future competitors, and competitive pressures could harm our business
    and prospects;</I></FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>We
    rely upon a number of partners to make our service available on their platforms and devices;</I></FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>If
    we fail to maintain or, in newer markets establish, a positive reputation with consumers concerning our service, including
    the content we offer, we may not be able to attract or retain users, and our operating results may be adversely affected;</I></FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>If
    content providers or other rights holders refuse to license streaming content or other rights upon terms acceptable to us,
    our business could be adversely affected;</I></FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>We
    may not be able to generate sufficient cash to service our obligations and any debt we incur;</I></FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>We
    have a substantial amount of obligations, including streaming content obligations, which, together with any debt we incur
    in the future, could adversely affect our financial position;</I></FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>We
    may find it difficult to successfully compete without significant capital investment or loans beyond what is available to
    us in current and future capital raising efforts;</I></FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>If
    the technology we use in operating our business fails, is unavailable, or does not operate to expectations, our business and
    results of operation could be adversely impacted; and</I></FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>We
    could be subject to economic, political, regulatory and other risks arising from our international operations.</I></FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;&nbsp;</B></FONT></P>

</DIV>

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

<!-- Field: Page; Sequence: 13; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<DIV STYLE="padding: 5pt; border: Black 1.5pt solid">

<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: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Corporate
Information</B></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are a Delaware corporation and formerly, under the name &ldquo;Software Acquisition Group Inc.,&rdquo; had the business purpose
to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination
with one or more businesses. On October 14, 2020, in connection with the consummation of the Business Combination, we changed
our name to &ldquo;CuriosityStream Inc.&rdquo; Our principal executive offices are located at 8484&nbsp;Georgia Ave., Suite 700,
Silver Spring, Maryland 20910, and our telephone number is (301) 755-2050. Our corporate website address is <I>www.investors.curiositystream.com</I>.
Information contained on or accessible through our website is not a part of this prospectus.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our common stock is traded
on the NASDAQ under the symbol &ldquo;CURI.&rdquo; Our Warrants are quoted on the NASDAQ under the symbol &ldquo;CURIW.&rdquo;. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B>Implications of Being an Emerging
Growth Company</B> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are an &ldquo;emerging growth company,&rdquo; as defined in Section&nbsp;2(a) of the Securities Act, as modified by the JOBS Act.
As such, we are eligible to take advantage of certain exemptions from various reporting requirements that are applicable to other
public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor
attestation requirements of Section&nbsp;404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation
in our periodic reports and proxy statements, and exemptions from the requirements of holding a non-binding advisory vote on executive
compensation and stockholder approval of any golden parachute payments not previously approved. If some investors find our securities
less attractive as a result, there may be a less active trading market for our securities and the prices of our securities may
be more volatile.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
addition, Section&nbsp;107 of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition
period provided in Section&nbsp;7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other
words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise
apply to private companies. We intend to take advantage of the benefits of this extended transition period.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> We will remain
an emerging growth company until the earlier of (1)&nbsp;the last day of the fiscal year (a)&nbsp;following the fifth anniversary
of the completion of the IPO, or (b)&nbsp;in which we have total annual gross revenue of at least $1.07 billion, (2)&nbsp;the
date on which we have issued more than $1.0 billion in non-convertible debt securities during the prior three-year period and
(3)&nbsp;the date on which we are deemed to be a large accelerated filer under the rules of the Securities and Exchange Commission.
References herein to emerging growth company will have the meaning associated with it in the JOBS Act. </P>



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

</DIV>

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

<!-- Field: Page; Sequence: 14; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<DIV STYLE="padding: 5pt; border: Black 1.5pt solid">

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>The
Offering</B></FONT></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: top">
    <TD STYLE="width: 28%; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt"><B>Securities Offered</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-bottom: 2.25pt">&nbsp;</TD>
    <TD STYLE="width: 70%; text-align: justify"><FONT STYLE="font-size: 10pt">This prospectus relates to the resale or distribution from time to time by the selling securityholders named in this prospectus or their permitted transferees of up to 13,893,093 shares of our Common Stock.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt"><B>Terms of the offering</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The selling securityholders will determine when and how they will dispose of the shares of Common Stock registered under this prospectus for resale.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt"><B>Shares outstanding prior to the offering</B></FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-size: 10pt">As of <FONT STYLE="font-family: Times New Roman, Times, Serif">March
    26, 2021</FONT>, we had <FONT STYLE="font-family: Times New Roman, Times, Serif">52,548,000</FONT> shares of our Common Stock
    issued and outstanding.</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt"><B>Shares outstanding after the offering</B></FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">52,548,000 </FONT> <FONT STYLE="font-size: 10pt">shares
    of our Common Stock<SUP>(1)</SUP>.</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt"><B>Use of proceeds</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">We will not receive any of the proceeds from the sale of the shares of Common Stock by the selling securityholders.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt"><B>Market for Common Stock and Warrants</B></FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-size: 10pt">Our common stock is traded on the NASDAQ under the symbol &ldquo;CURI.&rdquo;
    Our Warrants are quoted on the NASDAQ under the symbol &ldquo;CURIW.&rdquo;</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt"><B>Risk Factors</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">See &ldquo;<I>Risk Factors</I>&rdquo; and other information included in this prospectus for a discussion of factors you should consider before investing in our securities.</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
additional information concerning the offering, see &ldquo;<I>Plan of Distribution</I>&rdquo;.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Rule-Page --><DIV STYLE="width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
number of issued and outstanding shares of Common Stock does not include the shares of Common Stock reserved for issuance under
the Omnibus Incentive Plan.</FONT></TD>
</TR></TABLE>

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

</DIV>

<!-- Field: Page; Sequence: 15; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_007"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>RISK
FACTORS</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>An
investment in our securities involves a high degree of risk. You should consider carefully all of the risks described below, together
with the other information contained in this prospectus, before making a decision to invest in our securities. If any of the following
events occur, our business, financial condition and operating results may be materially adversely affected. In that event, the
trading price of our securities could decline, and you could lose all or part of your investment.</I></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Risks
Relating to the Company&rsquo;s Business</B></FONT> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>If our efforts to attract and retain users are not
successful, our business will be adversely affected.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We have experienced significant user
growth over the past several years. Our ability to continue to attract users will depend in part on our ability to effectively
market our service, consistently provide our users with compelling content choices, as well as a quality experience for selecting
and viewing factual entertainment. Furthermore, the relative service levels, content offerings, pricing and related features of
competitors to our service may adversely impact our ability to attract and retain users. Competitors include other entertainment
video providers, such as MVPDs, and SVoD services. If consumers do not perceive our service offering to be of value, including
if we introduce new or adjust existing features, adjust pricing or service offerings or change the mix of content in a manner
that is not favorably received by them, we may not be able to attract and retain users. In addition, we believe that many of our
users rejoin our service or originate from word-of-mouth advertising from existing users. If our efforts to satisfy our existing
users are not successful, we may not be able to attract users, and as a result, our ability to maintain and/or grow our business
will be adversely affected. Users may cancel our service for many reasons, including: a perception that they do not use the service
sufficiently, the need to cut household expenses, selection of content is unsatisfactory, competitive services provide a better
value or experience and customer service issues are not satisfactorily resolved. We must continually add new users both to replace
cancelled users and to grow our business beyond our current user base. If we do not grow as expected, we may not be able to adjust
our expenditures or increase our per user revenues commensurate with the lowered growth rate, such that our margins, liquidity
and results of operation may be adversely impacted, and our ability to operate at a net-loss may be strained. If we are unable
to successfully compete with current and new competitors in both retaining our existing users and attracting new users, our business
will be adversely affected. Further, if excessive numbers of users cancel our service, we may be required to incur significantly
higher marketing expenditures than we currently anticipate to replace these users with new users. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>The recent novel coronavirus (COVID-19) pandemic and
the global attempt to contain it may harm our industry, business, results of operations and ability to raise additional capital.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The global spread of the novel coronavirus
(COVID-19) and the various attempts to contain it have created significant volatility, uncertainty and economic disruption. In
response to government mandates, health care advisories and in otherwise responding to employee and vendor concerns, we have altered
certain aspects of our operations. Our workforce has had to spend a significant amount of time working from home, which impacts
their productivity. International and domestic travel has been severely curtailed, which required the cancellation of dozens of
partner and potential partner meetings and the rescheduling to virtual and telephonic forums for other such meetings. Many content
productions are paused, including productions of third parties who supply us with content. Other partners have similarly had their
operations altered or temporarily suspended, including distribution partners and those partners that we use for our operations
as well as development, production and post-production of content. To the extent the resulting economic disruption is severe,
we could see some partners and vendors go out of business, resulting in reduced demand from distributors and consequent reduction
in forecasted revenue, as well as supply constraints and increased costs or delays to our productions. Such production pauses
may cause us to temporarily have less new content available on our service in subsequent quarters, which could negatively impact
consumer demand for and member retention to our service and the number of paid memberships. Temporary production pauses or permanent
shutdowns in production could result in content asset impairments or other charges and will change the timing and amount of cash
outflows associated with production activity. </P>

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

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

<!-- Field: Page; Sequence: 16; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The full extent to which the COVID-19
pandemic and the various responses to it impacts our business, operations and financial results will depend on numerous evolving
factors that we may not be able to accurately predict, including: the duration and scope of the pandemic; governmental, business
and individuals&rsquo; actions that have been and continue to be taken in response to the pandemic; the availability and cost
to access the capital markets; the effect on our customers and customer demand for and ability to pay for our services; increased
competition with alternative media platforms and technologies; disruptions or restrictions on our employees&rsquo; ability to
work and travel; interruptions or restrictions related to the provision of streaming services over the internet, including impacts
on content delivery networks and streaming quality; and any stoppages, disruptions or increased costs associated with our development,
production, post-production, marketing and distribution of original programming. During the COVID-19 crisis, we may not be able
to provide the same level of customer service and product features that our members are used to, which could negatively impact
their perception of our service resulting in an increase in cancellations. Furthermore, given increased government expenditures
associated with their COVID-19 response, we could see increased government obligations which could negatively impact our results
of operations. If we need to access the capital markets, there can be no assurance that financing will be available on attractive
terms to us, if at all. We will continue to actively monitor the effects of the COVID-19 pandemic on our business and may take
further actions that alter our business operations, including distribution, partnerships and content production, as may be required
by federal, state, local or foreign authorities, or that we determine are in the best interests of our employees, customers, partners
and stockholders. It is not clear what potential effects any such alterations or modifications may have on our business, including
the effects on our customers, suppliers or vendors, or on our financial results. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The COVID-19 pandemic has also led
in part to an increase in our net paid subscribers relative to our quarterly forecast and historic trends. However, these results,
as well as the results represented by other metrics, such as revenues, operating margins, net income and other financial and operating
data, may not be indicative of results for future periods. Our increase in net paid subscribers may reflect the acceleration of
growth that we would have seen in subsequent periods, and subscriber growth may slow or reverse, due to slower acquisition and/or
higher cancellations, as government and other restrictions are relaxed. In addition to the potential direct impacts to our business,
the global economy is likely to be significantly weakened as a result of the actions taken in response to COVID-19. To the extent
that such a weakened global economy impacts consumers&rsquo; ability or willingness to pay for our service or vendors&rsquo; ability
to provide services to us, especially those related to our distribution and content productions, our business and results of operation
may be negatively impacted. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> To the extent the COVID-19 pandemic
adversely affects our business and financial results, it may also have the effect of heightening many of the other risks described
in this &ldquo;Risk Factors&rdquo; section including, but not limited to, our ability to retain users, our ability to operate
at a net loss, and our liquidity. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>We have a limited operating history and history of
net losses, and we anticipate that we will experience net losses for the foreseeable future.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> You should consider our business and
prospects in light of the risks, expenses and difficulties encountered by companies in their early stage of development. CuriosityStream
LLC, our predecessor, was formed as a Delaware limited liability company in June&nbsp;2008. CuriosityStream LLC officially launched
its subscription service to U.S. based customers in March&nbsp;2015 and to international customers in September&nbsp;2015. Accordingly,
we have a limited operating history upon which to base an evaluation of our business and prospects. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We have experienced significant
net losses since our inception and, given the significant operating and capital expenditures associated with our business plan, anticipate
continuing to incur net losses for the foreseeable future. If we do achieve profitability, we cannot be certain that we will be able
to sustain or increase such profitability. We incurred a net loss of approximately $38.6 million for the year ended December 31, 2020.
We have not generated positive cash flow from operations, we may not be able to operate at a net loss indefinitely, and we cannot be
certain that we will be able to generate positive cash flow from operations in the future. To achieve and sustain profitability, we must
accomplish numerous objectives, including broadening and stabilizing our sources of revenue and increasing the number of paying subscribers
to our service. Accomplishing these objectives will require significant capital investments. We cannot assure you that we will be able
to achieve these objectives. </P>

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

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

<!-- Field: Page; Sequence: 17; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Our operating results are expected to be difficult
to predict based on a number of factors that also may affect our long-term performance.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We expect our operating results to
fluctuate significantly in the future based on a variety of factors, many of which are outside our control and difficult to predict.
As a result, period-to-period comparisons of our operating results may not be a good indicator of our future or long-term performance.
The following factors may affect us from period-to-period and may affect our long-term performance: </P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> our
                                         ability to maintain and develop new and existing revenue-generating relationships; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> our
                                         ability to improve or maintain gross margins in our business; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> the
                                         amount and timing of operating costs and capital expenditures relating to expansion of
                                         our business, operations and infrastructure; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> our
                                         ability to significantly increase our subscriber base and retain customers; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> our
                                         ability to enforce our contracts and collect receivables from third parties; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> our
                                         ability to develop, acquire and maintain an adequate breadth and depth of content via
                                         original productions, co-productions, commissions and/or licenses; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> changes
                                         by our competitors to their product and service offerings; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> increased
                                         competition; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> our
                                         ability to detect and comply with data collection and privacy regulation and customer
                                         questions related thereto in every jurisdiction in which we operate; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> changes
                                         in promotional support or other aspects of our relationships with our partners through
                                         which we make our service available, including the MVPDs and/or the vMVPDs, through which
                                         we offer our content; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> our
                                         ability to effectively manage the development of new business segments and markets, and
                                         determine appropriate contract and licensing terms; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> our
                                         ability to maintain and develop new and existing marketing relationships; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> our
                                         ability to maintain, upgrade and develop our website, our applications through which
                                         we offer our service on our customers&rsquo; devices and our internal computer systems; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> fluctuations
                                         in the use of the internet for the purchase of consumer goods and services such as those
                                         offered by us; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> technical
                                         difficulties, system downtime or internet disruptions; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> our
                                         ability to attract new and qualified personnel in a timely and effective manner and retain
                                         existing personnel; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> conflicts
                                         of interest involving our founder and principal stockholder, John Hendricks; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> our
                                         ability to attract and retain sponsors and prove that our sponsorship offerings are effective
                                         enough to justify a pricing structure that is profitable for us; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> our
                                         ability to develop our Corporate &amp; Association Partnerships business; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> the
                                         success of our program sales to other media companies; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> our
                                         ability to successfully manage the integration of operations and technology resulting
                                         from possible future acquisitions; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> governmental
                                         regulation and taxation policies; and </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> general
                                         economic conditions and economic conditions specific to the internet, online commerce
                                         and the media industry. </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"></P>

<!-- Field: Page; Sequence: 18; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>If we are not able to manage our growth, our business
could be adversely affected.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We have expanded rapidly since we launched
our subscription service in March&nbsp;2015. We anticipate that further expansion of our operations will be required to achieve
significant growth in our products, lines of business and user base and to take advantage of favorable market opportunities. Any
future expansion will likely place significant demands on our managerial, operational, administrative and financial resources.
If we are not able to respond effectively to new or increased demands that arise because of our growth, or, if in responding,
our management is materially distracted from our current operations, our business may be adversely affected. In addition, if we
do not have sufficient breadth and depth of content necessary to satisfy increased demand arising from growth in our user base,
our user satisfaction may be adversely affected. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We are expanding our operations internationally,
scaling our service to effectively and reliably handle anticipated growth in both users and features related to our service and
ramping up our ability to produce original content. As our offerings evolve, we are managing and adjusting our business to address
varied content offerings, consumer customs and practices, different technology infrastructure, different markets for factual video
content, as well as differing legal and regulatory environments. As we scale our service, we are developing technology and utilizing
third-party &ldquo;cloud&rdquo; computing services. Currently, approximately a third of our content is originally produced, and
as we ramp up our original content production, we are building out expertise in a number of disciplines, including creative, marketing,
legal, finance, licensing and other resources related to the development and physical production of content. If we are not able
to manage the growing complexity of our business, including improving, refining or revising our systems and operational practices
related to our operations and original content, our business may be adversely affected. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Certain of our growth strategies are untested, unproven
or not yet fully developed.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We intend to increase our revenues
through expanding our subscriber base by, among other things, continuing to expand into international markets, expanding into
the mobile video market, expanding into the corporate social responsibility market, expanding into the branded partnerships market,
developing our Program Sales Business and developing our in-house production studio, Curiosity Studios. Our content is primarily
in the English language with subtitling or dubbing in Spanish, Mandarin, Russian and Swedish in parts of our library and the world
where demand exists and we have the language version rights. Our rights to the international distribution of portions of our co-produced
or licensed content are subject to certain geographic and platform or media restrictions. However, we intend to seek partnerships
with strong platforms in international territories, subject, in each case, to any then-existing geographic and media restrictions
on the distribution of any of our content. We also plan to seek partnerships with device makers in international markets. There
can be no assurance that these international partnerships will be successful or result in our meeting revenue targets. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We believe there is an opportunity
for us to commission or create content for other program providers. However, there can be no assurance that these partners will,
or will continue to, engage us for co-productions or commissioned content, or that we will earn the margins that we expect on
such projects. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We believe there is an opportunity
with corporations and associations via multi-year integrated partnerships where we create and distribute content in support of
these partners&rsquo; CSR and membership initiatives. However, there can be no assurance that corporations and associations will
enter into such partnerships with us. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> If we expand into new markets or increase
certain operations in connection with our growth strategies, we may be required to comply with new regulatory requirements that
could cause us to incur additional expenses, increase our cost of doing business, impose additional burdens on us or otherwise
negatively affect our business. In pursuing these growth strategies, we expect to incur significant operating and capital expenditures
and, as a result, we expect to continue to experience net losses in the future. It is possible that we will not be able to grow
our revenues through these strategies, or if growth is achieved, that it will be maintained for any significant period, or at
all. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>If we experience excessive rates of user churn, our
revenues and business will be harmed.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In order to increase our revenues,
we must minimize the rate of loss of existing users while adding new users to our DTC subscription service. Our experience during
our operating history indicates that there are many variables that impact churn, including the type of plan selected, user engagement
with the platform and length of a user&rsquo;s subscription to date. As a result, in periods of rapid user growth, we believe
that our average churn is likely to increase as the average length of subscription to date decreases. Similarly, in periods of
slow user growth, we believe that our average churn is likely to decrease since our average user duration is longer. However,
these estimates are subject to change based on a number of factors, including the percentage of users selecting monthly vs. annual
plans, increased rates of subscription cancellations and decreased rates of user acquisition. We cannot assure you that these
estimates will be indicative of future performance or that the risks related to these estimates will not materialize. Users may
cancel their subscription to our service for many reasons, including, among others, a perception that they do not use the service
sufficiently, or the belief that the service is a poor value or that customer service issues are not satisfactorily resolved.
We must continually add new users both to replace users who cancel and to continue to grow our business beyond our current user
base. If too many of our users cancel our service, or if we are unable to attract new users in numbers sufficient to grow our
business, our operating results will be adversely affected. Further, if excessive numbers of users cancel our service, we may
be required to incur significantly higher marketing expenditures than we currently anticipate in order to replace these users
with new users. </P>

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

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

<!-- Field: Page; Sequence: 19; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>If our efforts to build a strong brand identity and
improve user satisfaction and loyalty are not successful, we may not be able to attract or retain users, and our operating results
may be affected adversely.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The CuriosityStream brand is only six
years old, and we must continue to build a strong brand identity. To succeed, we must continue to attract and retain a large number
of new users. We may be required to incur significantly higher advertising and promotional expenditures than we currently anticipate
to attract large numbers of new users. We believe that the importance of brand loyalty will increase with the continued proliferation
of SVoD subscription services. If our branding efforts are not successful, however, our ability to attract and retain users will
be affected adversely, which may negatively impact our future operating results. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>We may be unable to compete successfully against current
and future competitors, and competitive pressures could harm our business and prospects.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Our industry is intensely competitive,
and we expect competition to increase in the future as current competitors improve their content offerings and as new participants
enter the market. Competition may result in pricing pressures, reduced profit margins, loss of market share or greater difficulty
in acquiring attractive content, any of which could substantially harm our business and results of operations. Many of the companies
that are participating in the United&nbsp;States and global SVoD media sector have longer operating histories, larger and broader
user bases, significantly greater financial, human, technical and other resources and greater name recognition than we do. These
companies, which include Netflix, Amazon, Hulu, CBS, ABC, NBC, BBC, PBS, Fox Networks, Discovery Communications, Disney and others,
provide a broader range of content, and could redirect and apply considerable resources to acquired and original factual content.
With the rise of shelter-in-place policies and the COVID-19 pandemic, both established companies and new competitors are developing
and creating their own original factual content. In addition, many titles in our content library are subject to non-exclusive
licenses, and as a result, our competitors may be able to license many of our popular titles to expand their reach into factual
entertainment. If this were to occur, users that already subscribe to these services for other types of content may determine
that they do not need to also subscribe to our service. There may also be other competitors, including non-profit and educational
organizations and other knowledge sharing focused institutions, that choose to focus on factual content that could directly compete
with our SVoD offerings. Well-funded competitors may be better able to withstand economic downturns and periods of slow economic
growth and the associated periods of reduced customer spending and increased pricing pressures. Some competitors are able to devote
substantially more resources to website and systems development or to investments or partnerships. We may be unable to compete
successfully against current and future competitors, and competitive pressures could harm our business and prospects. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>We face risks, such as unforeseen costs and potential
liability, in connection with content we acquire, produce, license and/or distribute through our service.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> As a producer and distributor of content,
we face potential liability for negligence, copyright and trademark infringement, or other claims based on the nature and content
of materials that we acquire, produce, license and/or distribute. We also may face potential liability for content used in promoting
our service, including marketing materials. We are devoting more resources toward the development, production, marketing and distribution
of original programming. We believe that original programming can help differentiate our service from other offerings, enhance
our brand and otherwise attract and retain users. To the extent our original programming does not meet our expectations, in particular,
in terms of costs, viewing and popularity, our business, including our brand and results of operations, may be adversely impacted.
As we expand our original programming, we have become responsible for production costs and other expenses. We also take on risks
associated with production, such as completion risk. To the extent we create and sell physical or digital merchandise relating
to our original programming, and/or license such rights to third parties, we could become subject to product liability, intellectual
property or other claims related to such products. We may decide to remove content from our service, not to place licensed or
produced content on our service or discontinue or alter production of original content if we believe such content might not be
well received by our users or could be damaging to our brand. </P>

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

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

<!-- Field: Page; Sequence: 20; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> To the extent we do not accurately
anticipate costs or mitigate risks, including for content that we obtain but ultimately does not appear on or is removed from
our service, or if we become liable for content we acquire, produce, license and/or distribute, our business may suffer. Litigation
to defend these claims could be costly and the expenses and damages arising from any liability or unforeseen production risks
could harm our results of operations. We may not be indemnified against claims or costs of these types and we may not have insurance
coverage for these types of claims. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>We rely upon a number of partners to make our service
available on their platforms and devices.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We currently offer users the ability
to receive streaming content through a host of screens and devices, including televisions, set-top boxes, computers, streaming
media players, game consoles and mobile devices. We have executed a number of distribution and licensing agreements with MVPDs,
vMVPDs and digital distributors including Amazon, YouTube TV, Roku, Comcast, Cox Communications, Dish Network, Sling TV, and others,
as well as with our Bundled Distribution Partners, including Altice and TataSky, among others. The future performance of our distribution
partners under these distribution agreements is uncertain and we can provide no assurance that our distribution partners can generate
the number of paying subscribers to our SVoD service in an amount adequate to produce the revenue required to maintain business
operations. In many instances, our agreements also include provisions by which the distribution partner bills consumers directly
for the CuriosityStream service or otherwise offers services or products in connection with offering our service. We intend to
continue to broaden our relationships with existing partners and to increase our capability to stream our content to other platforms,
partners and territories over time. If we are not successful in maintaining existing and creating new relationships, or if we
encounter technological, content licensing, regulatory, business or other impediments to delivering our streaming content to our
users via these devices and platforms and in these territories, our ability to retain users and grow our business could be adversely
impacted. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Our agreements with our partners are
typically between one and three years in duration and our business could be adversely affected if, upon expiration, a number of
our partners do not continue to provide access to our service or are unwilling to do so on terms acceptable to us, which terms
may include the degree of accessibility and prominence of our service. Furthermore, while devices are manufactured and sold by
entities other than CuriosityStream, the connection between these devices and CuriosityStream may nonetheless result in consumer
dissatisfaction toward CuriosityStream and such dissatisfaction could result in claims against us or otherwise adversely impact
our business. In addition, technology changes to our streaming functionality may require that partners update their devices. If
partners do not update or otherwise modify their devices, our service and our users&rsquo; use and enjoyment of our content could
be negatively impacted. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>We are subject to payment processing risk.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Our users pay for our service using
a variety of different payment methods, including credit and debit cards, gift cards, direct debit and online wallets. We rely
on third parties to process payment. Acceptance and processing of these payment methods are subject to certain rules and regulations
and require payment of interchange and other fees. To the extent there are disruptions in our payment processing systems, increases
in payment processing fees, material changes in the payment ecosystem, such as large re-issuances of payment cards, delays in
receiving payments from payment processors and/or changes to rules or regulations concerning payment processing, our revenue,
operating expenses and results of operation could be adversely impacted. In certain instances, we leverage third parties such
as our MVPDs and other partners to bill subscribers on our behalf. If these third parties become unwilling or unable to continue
processing payments on our behalf, we would have to find alternative methods of collecting payments, which could adversely impact
user acquisition and retention. In addition, from time to time, we encounter fraudulent use of payment methods, which could impact
our results of operation and if not adequately controlled and managed could create negative perceptions of our service. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Distributors&rsquo; failure to promote our content
could adversely affect our revenue and could adversely affect our business results.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We will not always control the timing
and manner in which our licensed distributors distribute our content offerings. However, their decisions regarding the timing
of release and promotional support are important in determining success. Any decision by those distributors not to distribute
or promote our content or to promote our competitors&rsquo; content to a greater extent than they promote our content could have
a material adverse effect on our business, financial condition, operating results, liquidity and prospects. </P>

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

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

<!-- Field: Page; Sequence: 21; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>If we fail to maintain or, in newer markets establish,
a positive reputation with consumers concerning our service, including the content we offer, we may not be able to attract or
retain users, and our operating results may be adversely affected.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We believe that a positive reputation
with consumers concerning our service is important in attracting and retaining users who have a number of choices from which to
obtain video entertainment. To the extent our content is perceived as low quality, offensive or otherwise not compelling to consumers,
our ability to establish and maintain a positive reputation may be adversely impacted. To the extent our content is deemed controversial
or offensive by government regulators, we may face direct or indirect retaliatory action or behavior, including being required
to remove such content from our service, and our entire service could be banned and/or become subject to heightened regulatory
scrutiny across our business and operations. Furthermore, to the extent our marketing, customer service and public relations efforts
are not effective or result in negative consumer reaction, our ability to establish and maintain a positive reputation may likewise
be adversely impacted. Lastly, to the extent we suffer any security vulnerabilities, bugs, errors or other performance failures,
our ability to establish and maintain a positive reputation may be adversely impacted. With newer markets, we also need to establish
our reputation with consumers and to the extent we are not successful in creating positive impressions, our business in these
newer markets may be adversely impacted. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Changes in competitive offerings for video entertainment,
including the potential rapid adoption of piracy-based video offerings, could adversely impact our business.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The market for video entertainment
is intensely competitive and subject to rapid change. Through new and existing distribution channels, consumers have increasing
options to access video entertainment. The various economic models underlying these channels include subscription, transactional,
ad-supported and piracy-based models. All of these have the potential to capture meaningful segments of the video entertainment
market. Piracy, in particular, threatens to damage our business. Piracy&rsquo;s fundamental proposition to consumers is compelling
and difficult to compete against, as virtually all content is free. Further, in light of the compelling consumer proposition,
piracy services are subject to rapid global growth. In addition, traditional providers of video entertainment, including broadcasters
and cable network operators, as well as internet-based e-commerce or video entertainment providers are increasing their internet-based
video offerings. Several of these competitors have long operating histories, large customer bases, strong brand recognition and
significant financial, marketing and other resources. They may secure better terms from suppliers, adopt more aggressive pricing
and devote more resources to product development, technology, infrastructure, content acquisitions and marketing. New entrants
may enter the market or existing providers may adjust their services with unique offerings or approaches to providing video entertainment. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Companies also may enter into business
combinations or alliances that strengthen their competitive positions. If we are unable to successfully or profitably compete
with current and new competitors, our business will be adversely affected, and we may not be able to increase or maintain market
share and revenues or achieve profitability. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>If government regulations relating to the internet
or other areas of our business change, we may need to alter the manner in which we conduct our business or incur greater operating
expenses.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The adoption or modification of laws
or regulations relating to the internet, telecommunications or other areas of our business could limit or otherwise adversely
affect the manner in which we currently conduct our business. As our service and others like us gain traction in international
markets, governments are increasingly looking to introduce new or extend legacy regulations to these services, in particular those
related to broadcast media, content obligations or restrictions, treatment of intellectual property, net neutrality or payment
for transmission and tax. For example, recent changes to European law enables individual member states to impose levies and other
financial obligations on media operators located outside their jurisdiction. We anticipate that several jurisdictions may, over
time, impose greater financial and regulatory obligations on us. In addition, the continued growth and development of the market
for online commerce may lead to more stringent consumer protection laws, which may impose additional burdens on us. If we are
required to comply with new regulations or legislation or new interpretations of existing regulations or legislation, this compliance
could cause us to incur additional expenses or alter our business model. </P>

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

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

<!-- Field: Page; Sequence: 22; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Changes in laws or regulations that
adversely affect the growth, popularity or use of the internet, including laws impacting net neutrality, could decrease the demand
for our service and increase our cost of doing business. Certain laws intended to prevent network operators from discriminating
against the legal traffic that traverse their networks have been implemented in many countries, including across the European
Union (the &ldquo;EU&rdquo;). In others, the laws may be nascent or non-existent. Furthermore, favorable laws may change, including
for example, in the United&nbsp;States where net neutrality regulations were somewhat recently repealed. Given uncertainty around
these rules, including changing interpretations, amendments or repeal, coupled with potentially significant political and economic
power of local network operators, we could experience discriminatory or anti-competitive practices that could impede our growth,
cause us to incur additional expense or otherwise negatively affect our business. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Changes in how we market our service, or increases
in our advertising rates, could adversely affect our marketing expenses and user levels may be adversely affected.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We utilize a broad mix of marketing
and public relations programs, including social media sites, to promote our service to potential new users. We may limit or discontinue
use or support of certain marketing sources or activities if advertising rates increase or if we become concerned that users or
potential users deem certain marketing practices intrusive or damaging to our brand. If the available marketing channels are curtailed,
our ability to attract new users may be adversely affected. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Companies that promote our service
and/or host our advertisements may decide that we negatively impact their business or may make business decisions that in turn
negatively impact us. For example, if they decide that they want to compete more directly with us, enter a similar business or
exclusively support our competitors, we may no longer have access to their marketing channels or they may charge us higher advertising
rates, preventing us from advertising at competitive and/or reasonable rates. We also acquire a number of users who rejoin our
service after having previously cancelled their subscription. If we are unable to maintain or replace our sources of subscriptions
with similarly effective sources, or if the cost of our existing subscription increases, our subscription levels and marketing
expenses may be adversely affected. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We utilize marketing to promote our
content and drive viewing by our users. To the extent we promote our content inefficiently or ineffectively, we may not obtain
the expected acquisition and retention benefits and our business may be adversely affected. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Emerging industry trends in digital advertising may
pose challenges for our ability to forecast or optimize our advertising inventory, which may adversely impact our ability to capture
advertising spend.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The digital advertising industry is
introducing new ways to measure and price advertising inventory. In the absence of a uniform industry standard, agencies and advertisers
have adopted several different measurement methodologies and standards. In addition, measurement services may require technological
integrations, which are still being evaluated by the advertising industry without an agreed-upon industry standard metric. As
these trends in the industry continue to evolve, our sponsorship and advertising fees may be adversely affected by the availability,
accuracy and utility of the available analytics and measurement technologies as well as our ability to successfully implement
and operationalize such technologies and&nbsp;standards. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Further, the digital advertisement
industry is shifting to data-driven technologies and advertising products, such as automated buying. These data-driven advertising
products and automated buying technologies allow publishers and advertisers to use data to target advertising toward specific
groups of users who are more likely to be interested in the advertisement message delivered to them. In addition, we rely on third-party
advertising technology platforms to participate in automated buying, and if these platforms cease to operate or experience instability
in their business models, it also may adversely affect our ability to capture advertising spend. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Our user metrics and other estimates are subject to
inherent challenges in measurement, and real or perceived inaccuracies in those metrics may seriously harm and negatively affect
our reputation and our business.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We regularly review key metrics related
to the operation of our business, including, but not limited to monthly active users (&ldquo;MAUs&rdquo;) and user churn, to evaluate
growth trends, measure our performance, and make strategic decisions. These metrics are calculated using internal company data
and have not been validated by an independent third party. While these numbers are based on what we believe to be reasonable estimates
of our user base for the applicable period of measurement, there are inherent challenges in measuring how our service is used
across populations globally. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Errors or inaccuracies in our metrics
or data could result in incorrect business decisions and inefficiencies. For instance, if a significant understatement of churn
or overstatement of MAUs were to occur, we may expend resources to implement unnecessary business measures or fail to take required
actions to attract a sufficient number of users to satisfy our growth strategies. </P>

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

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

<!-- Field: Page; Sequence: 23; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Some of our demographic data also may
be incomplete or inaccurate because users self-report their personal information. Consequently, the personal data we have may
differ from our users&rsquo; actual information. If sponsors, advertisers, partners or investors do not perceive our user, geographic
or other demographic metrics to be accurate representations of our user base, or if we discover material inaccuracies in our user,
geographic, or other demographic metrics, our reputation may be seriously harmed. See &ldquo;&mdash; We are at risk of attempts
at unauthorized access to our service, and failure to effectively prevent and remediate such attempts could have an adverse impact
on our business, operating results, and financial condition.&rdquo; </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>We rely on subscription data provided by our third-party
distributors and platform partners that has not been independently verified and inaccuracies in that data may seriously harm and
adversely affect our reputation and our business.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Our calculation of total paying subscribers
includes the subscribers who are accessing our service via a third-party distributor or platform partner. We rely on these third-party
distributors and platform partners to provide us with subscriber data. This data is based on verbal, unpublished or confidential
reports and has not been validated by us or an independent third party. We use this data, among other things, to evaluate growth
trends, measure our performance and make strategic decisions. Reliance on such unconfirmed or unpublished data could lead us to
make incorrect calculations, incorrect business decisions or inefficiencies, particularly if these third parties provide inaccurate
or incomplete data. If any of the foregoing were to occur, our reputation and business could be seriously harmed or adversely
affected. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Our business emphasizes rapid innovation and prioritizes
long-term user engagement over short-term financial condition or results of operations. That strategy could have an adverse impact
on our business, operating results and financial condition.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Our business is growing and becoming
more complex, and our success depends on our ability to quickly develop and launch new and innovative services. We believe our
culture fosters this goal. Our focus on complexity and quick reactions could result in unintended outcomes or decisions that are
poorly received by our users, advertisers, sponsors or partners. Our culture also prioritizes our long-term user engagement over
short-term financial condition or results of operations. We frequently make decisions that may reduce our short-term revenue or
profitability if we believe that the decisions benefit the aggregate user experience and will thereby improve our financial performance
over the long-term. For example, in August&nbsp;2018, we reduced our monthly and annual subscription prices for our HD service
from $5.99 and $59.99 to $2.99 and $19.99, respectively. We also regularly run promotions discounting our service plans from their
published prices. For example, in the second quarter of 2020 we ran an $11.99 promotion for an annual subscription. No assurance
can be provided that such price reductions will produce an increase in subscribers to a level adequate to support sponsorship
sales or generate revenue in an amount required to maintain business operations. These decisions may not produce the long-term
benefits that we expect, in which case, our user growth and engagement, our relationships with advertisers, sponsors and partners,
as well as our business, operating results and financial condition could be seriously harmed. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>We may acquire other companies or technologies, which
could divert management&rsquo;s attention and otherwise disrupt our operations and harm our operating results. We may fail to
acquire companies whose market power or technology could be important to the future success of our business.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We may, in the future, seek to acquire
or invest in other companies or technologies that we believe could complement or expand our service, enhance our technical capabilities
or otherwise offer growth opportunities. Pursuit of future potential acquisitions may divert the attention of management and cause
us to incur various expenses in identifying, investigating and pursuing suitable acquisitions, whether or not they are consummated.
In addition, we have limited experience acquiring and integrating other businesses. We may be unsuccessful in integrating any
business we may acquire in the future, and we may fail to acquire companies whose market power or technology could be important
to the future success of our business. </P>

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

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

<!-- Field: Page; Sequence: 24; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We also may not achieve the anticipated
benefits from any acquired business due to a number of factors, including: </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> unanticipated
                                         costs or liabilities associated with the acquisition, including costs or liabilities
                                         arising from the acquired companies&rsquo; failure to comply with intellectual property
                                         laws and licensing obligations they are subject to; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> difficulty
                                         incorporating acquired technology systems and platforms; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> risks
                                         of entering new markets; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> incurrence
                                         of acquisition-related costs; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> diversion
                                         of management&rsquo;s attention from other business concerns; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> regulatory
                                         uncertainties; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> harm
                                         to our existing business relationships with business partners as a result of the acquisition; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> harm
                                         to our brand and reputation; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> the
                                         potential loss of key employees; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> use
                                         of resources that are needed in other parts of our business; and </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> use
                                         of substantial portions of our available cash to consummate the acquisition. </TD>
</TR></TABLE>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In addition, a significant portion
of the purchase price of companies we acquire may be allocated to acquire goodwill, which must be assessed for impairment at least
annually. In the future, if our acquisitions do not yield expected returns, we may be required to take charges to our operating
results based on this impairment assessment process. Acquisitions also could result in dilutive issuances of equity securities
or the incurrence of debt, which could adversely affect our operating results. In addition, if an acquired business fails to meet
our expectations, our operating results, business and financial condition may suffer. </P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>If content providers or other rights holders refuse
to license streaming content or other rights upon terms acceptable to us, our business could be adversely affected.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Our ability to provide our users with
content they want to watch depends on content providers and other rights holders&rsquo; licensing rights to distribute such content
and certain related elements thereof, such as the public performance of music contained within the content we distribute, upon
terms acceptable to us. While the license periods and the terms and conditions of such licenses vary, a significant portion of
our available content is subject to license for a given period. As of December 31, 2020, 64% of our titles were subject to licenses,
29% of which expire in 2021 and 31% of which expire in 2022. Of the titles that expire in 2021 and 2022, some may be renewed for
a one- or two-year term at our unilateral option. If the content providers and other rights holders are not or are no longer willing
or able to license us content upon terms acceptable to us, our ability to deliver particular items of content to our subscribers
will be adversely affected and/or our costs could increase. Certain licenses for content provide for the content providers to
withdraw content from our service relatively quickly, and such content providers could decide that we negatively impact their
business or may make business decisions that in turn negatively impact us. For example, certain content providers could decide
that they want to compete more directly with us, enter a similar business or exclusively support our competitors, and in such
event we may no longer have access to their content at all or only at higher rates. Because of these provisions as well as other
actions we may take, content available through our service can be withdrawn on short notice. As competition increases, we may
see the cost of programming increase. As we seek to differentiate our service, we are increasingly focused on securing certain
exclusive rights when obtaining content, including original content. We are also focused on programming an overall mix of content
that delights our users in a cost-efficient manner. Within this context, we are selective about the titles we add and renew to
our service. If we do not maintain a compelling mix of content, our user acquisition and retention may be adversely affected. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Music and certain authors&rsquo; performances
contained within content we distribute may require us to obtain licenses for such distribution. In this regard, we engage in negotiations
with collection management organizations (&ldquo;CMOs&rdquo;) that hold certain rights to music and/or other interests in connection
with streaming content into various territories. If we are unable to reach mutually acceptable terms with these organizations,
we could become involved in litigation and/or could be enjoined from distributing certain content, which could adversely impact
our business. Additionally, pending and ongoing litigation, as well as negotiations between certain CMOs and other third parties
in various territories, could adversely impact our negotiations with CMOs, or result in music publishers represented by certain
CMOs unilaterally withdrawing rights, and thereby adversely impact our ability to reach licensing agreements reasonably acceptable
to us. Failure to reach such licensing agreements could expose us to potential liability for copyright infringement or otherwise
increase our costs. </P>

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

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

<!-- Field: Page; Sequence: 25; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>The long-term and fixed cost nature of our content
commitments may limit our operating flexibility and could adversely affect our liquidity and results of operations.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In connection with licensing
content, we typically enter into multi-year commitments with content providers. We also enter into multi-year commitments for content
that we produce, either directly or through third parties, including elements associated with these productions such as non-cancellable
commitments under talent agreements. The payment terms of these agreements are not tied to usage or the size of our user base but may
be determined by costs of production or tied to such factors as titles licensed. Such commitments, to the extent estimable under accounting
standards, are included in Note 13 in the accompanying notes to our consolidated financial statements for the years ended December 31,
2020 and 2019 included herein. Given the multiple-year duration and largely fixed cost nature of content commitments, if user acquisition
and retention do not meet our expectations, our margins may be adversely impacted. Payment terms for certain content commitments, such
as content we directly produce, will typically require more up-front cash payments than other content licenses or arrangements whereby
we do not cash flow the production of such content. To the extent user and/or revenue growth do not meet our expectations, our liquidity
and results of operations could be adversely affected as a result of content commitments and accelerated payment requirements of certain
agreements. In addition, the long-term and fixed cost nature of our content commitments may limit our flexibility in planning for or
reacting to changes in our business and the markets in which we operate. If we license and/or produce content that is not favorably received
by consumers in a territory, or is unable to be shown in a territory, acquisition and retention may be adversely impacted and given the
long-term and fixed cost nature of our content commitments, we may not be able to adjust our content offering quickly and our results
of operation may be adversely impacted. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>If our trademarks and other proprietary rights are
not adequately protected to prevent use or appropriation by our competitors, the value of our brand and other intangible assets
may be diminished and our business may be adversely affected.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We rely and expect to continue to rely
on a combination of confidentiality and license agreements with our employees, consultants and third parties with whom we have
relationships, as well as trademark and copyright laws, to protect our proprietary rights. We may also seek to enforce our proprietary
rights through court proceedings or other legal actions. We have filed and we expect to file from time to time for trademark applications.
Nevertheless, these applications may not be approved, third parties may challenge any copyrights or trademarks issued to or held
by us, third parties may knowingly or unknowingly infringe our intellectual property rights, and we may not be able to prevent
infringement or misappropriation without substantial expense to us. If the protection of our intellectual property rights is inadequate
to prevent use or misappropriation by third parties, the value of our brand and other intangible assets may be diminished, competitors
may be able to more effectively mimic our service and methods of operations, the perception of our business and service to users
and potential users may become confused in the marketplace, and our ability to attract users may be adversely affected. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We currently hold various domain names
relating to our brand, including <I>www.curiositystream.com</I>. Failure to protect our domain names could adversely affect our
reputation and brand and make it more difficult for users to find our website and our service. We may be unable, without significant
cost or at all, to prevent third parties from acquiring domain names that are similar to, infringe upon or otherwise decrease
the value of our trademarks and other proprietary rights. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Intellectual property claims against us could be costly
and result in the loss of significant rights related to, among other things, our website, streaming technology, our recommendation
and promotion capabilities, title selection processes and marketing activities.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Trademark, copyright and other intellectual
property rights are important to us and other companies. Our intellectual property rights extend to our technology, business processes
and the content we produce and distribute through our website. We use the intellectual property of third parties in creating some
of our content and marketing our service through contractual and other rights. From time to time, third parties may allege that
we have violated their intellectual property rights. If we are unable to obtain sufficient rights, successfully defend our use,
or develop non-infringing technology or otherwise alter our business practices on a timely basis in response to claims against
us for infringement, misappropriation, misuse or other violation of third-party intellectual property rights, our business and
competitive position may be adversely affected. Many companies are devoting significant resources to developing patents that could
potentially affect many aspects of our business. There are numerous patents that broadly claim means and methods of conducting
business on the internet. We have not searched patents relative to our technology. Defending ourselves against intellectual property
claims, whether they are with or without merit or are determined in our favor, results in costly litigation and diversion of technical
and management personnel. It also may result in our inability to use our current website, streaming technology, our recommendation
and promotion capability or inability to market our service. We may also have to remove content from our service. As a result
of a dispute, we may have to develop non-infringing technology, enter into royalty or licensing agreements, adjust our content,
marketing activities or take other actions to resolve the claims. These actions, if required, may be costly or unavailable on
terms acceptable to us. </P>

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

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

<!-- Field: Page; Sequence: 26; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>We may not be able to generate sufficient cash to
service our obligations and any debt we incur.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Our ability to make payments on our
obligations and any debt we incur in the future will depend on our financial and operating performance, which is subject to prevailing
economic and competitive conditions and to certain financial, business and other factors beyond our control. In each of the last
three years, our cash flows from operating activities have been negative. We may be unable to attain a level of cash flows from
operating activities or maintain the level of liquidity sufficient to permit us to pay our obligations, including amounts due
under our streaming content obligations, and the principal, premium, if any, and interest on any debt we incur. We may or may
not be able to accurately predict the ultimate impact on our levels of liquidity from our cash flows and such predictions are
subject to change. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> If we are unable to service our obligations,
including any debt we may incur in the future, from cash flows, we may need to refinance or restructure all or a portion of such
obligations prior to maturity. Our ability to refinance or restructure obligations, including any debt we may incur in the future,
will depend upon the condition of the capital markets and our financial condition at such time. Any refinancing or restructuring
could be at higher interest rates and may require us to comply with more onerous covenants, which could further restrict our business
operations. If our cash flows are insufficient to service our then-existing debt and other obligations, we may not be able to
refinance or restructure any of these obligations on commercially reasonable terms or at all and any refinancing or restructuring
could have a material adverse effect on our business, results of operations or financial condition. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> If our cash flows are insufficient
to service our obligations, including any debt we may incur in the future, and we are unable to refinance or restructure these
obligations, we could face substantial liquidity problems and may be forced to reduce or delay investments and capital expenditures
or to sell material assets or operations to meet our then-existing debt and other obligations. We cannot assure you that we would
be able to implement any of these alternative measures on satisfactory terms or at all or that the proceeds from such alternatives
would be adequate to meet any debt or other obligations then due. If it becomes necessary to implement any of these alternative
measures, our business, results of operations or financial condition could be materially and adversely affected. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>We have a substantial amount of obligations, including
streaming content obligations, which, together with any debt we may incur in the future, could adversely affect our financial
position.</I></B> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> We have a substantial
amount of obligations, including streaming content obligations. Moreover, we expect to incur substantial indebtedness in the future and
to incur other obligations, including additional streaming content obligations. As of December 31, 2020, we had approximately $2.1 million
of total content liabilities as reflected on our consolidated balance sheet. Such amount does not include streaming content commitments
that do not meet the criteria for liability recognition, the amounts of which are significant. For more information on our streaming
content obligations, including those not on our balance sheet, see Note 13 in the accompanying notes to our consolidated financial statements
for the years ended December 31, 2020 and 2019 included herein. Our obligations, including streaming content obligations, may: </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> make
                                         it difficult for us to satisfy our other financial obligations; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> limit our
                                         ability to use our cash flow, borrow additional funds or obtain other additional financing
                                         for future working capital, capital expenditures, acquisitions or other general business
                                         purposes; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> require
                                         us to use a substantial portion of our cash flow from operations to make debt service
                                         payments and pay our other obligations when due; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> limit
                                         our flexibility to plan for, or react to, changes in our business and industry; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> place
                                         us at a competitive disadvantage compared to our less leveraged competitors; and </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> increase
                                         our vulnerability to the impact of adverse economic and industry conditions. </TD>
</TR></TABLE>

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

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

<!-- Field: Page; Sequence: 27; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Our streaming obligations to licensors
include large multi-year commitments. As a result, we may be unable to react to any downturn in the economy or reduction in our
cash flows from operations by reducing our streaming content obligations in the near-term. This could result in our needing to
access the capital markets at an unfavorable time, which may negatively impact our business. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>We may find it difficult to successfully compete without
significant capital investment or loans beyond what is available to us in current and future capital raising efforts.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Competing in the global media marketplace
requires considerable financial resources, especially in the direct-to-consumer SVoD business sector, which requires substantial
advertising and marketing expenditures to build widespread brand awareness to a level that produces subscribers. For example,
Netflix alone spent approximately $2.2 billion on marketing in the fiscal year ended December 31, 2020. In a global media marketplace
with competitors spending greater amounts on programming and marketing than we do, we may find it difficult to successfully compete
without significant capital investment or loans beyond what is available to us in current and future capital raising efforts.
No assurance can be provided that we can successfully acquire the amount of capital resources required to successfully compete
and survive as a business. </P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Any significant disruption in or unauthorized access
to our computer systems or those of third parties that we utilize in our operations, including those relating to cybersecurity
or arising from cyber-attacks, could result in a loss or degradation of service, unauthorized disclosure of data, including user
and corporate information, or theft of intellectual property, including digital content assets, which could adversely impact our
business.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Our reputation and ability to attract,
retain and serve our users is dependent upon the reliable performance and security of our computer systems, mobile and other user
applications, and those of third parties that we utilize in our operations. These systems may be subject to cyber incident, damage
or interruption from earthquakes, adverse weather conditions, lack of maintenance due to the COVID-19 pandemic, other natural
disasters, terrorist attacks, power loss or telecommunications failures. Interruptions in, destruction or manipulation of these
systems, or with the internet in general, could make our service unavailable or degraded or otherwise hinder our ability to deliver
streaming content. Service interruptions, errors in our software or the unavailability of computer systems used in our operations,
delivery or user interface could diminish the overall attractiveness of our user service to existing and potential users. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Our computer systems, mobile and other
applications and systems of third parties we use in our operations are vulnerable to cybersecurity risks, including cyber-attacks
and loss of confidentiality, integrity or availability, both from state-sponsored and individual activity, such as hacks, unauthorized
access, computer viruses, denial of service attacks, physical or electronic break-ins and similar disruptions and destruction.
Such systems may periodically experience directed attacks intended to lead to interruptions and delays in our service and operations
as well as loss, misuse or theft of data or intellectual property. Any attempt by hackers to obtain our data (including user and
corporate information) or intellectual property (including digital content assets), disrupt our service, or otherwise access our
systems, or those of third parties we use, if successful, could harm our business, be expensive to remedy, expose us to potential
liability and damage our reputation. We have implemented certain systems and processes to thwart hackers and protect our data
and systems. From time to time, we have experienced an unauthorized release of certain digital content assets, however, to date
these unauthorized releases have not had a material impact on our service or systems. There is no assurance that hackers may not
have a material impact on our service or systems in the future. Our insurance does not cover expenses related to such disruptions,
losses or unauthorized access. Efforts to prevent hackers from disrupting our service or otherwise accessing our systems are expensive
to implement and may limit the functionality of or otherwise negatively impact our service offering and systems. Any significant
disruption to our service or access to our systems could result in a loss of users, liability and adversely affect our business
and results of operation. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We utilize our own communications and
computer hardware systems located either in our facilities or in that of a third-party web hosting provider. In addition, we utilize
third-party &ldquo;cloud&rdquo; computing services in connection with our business operations. We also utilize our own and third-party
content delivery networks to help us stream factual entertainment in high volume to CuriosityStream users over the internet. Problems
faced by us or our third-party Web hosting, &ldquo;cloud&rdquo; computing, or other network providers, including technological
or business-related disruptions, as well as cybersecurity threats, could adversely impact the experience of our users, resulting
in a loss of users, which could adversely affect our business and results of operations. </P>

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

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

<!-- Field: Page; Sequence: 28; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>We rely upon Amazon Web Services (&ldquo;AWS&rdquo;)
to operate certain aspects of our service and any disruption of or interference with our use of AWS would impact our operations
and our business would be adversely affected.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> AWS provides a distributed computing
infrastructure platform for business operations, or what is commonly referred to as a &ldquo;cloud&rdquo; computing service. We
have architected our software and computer systems so as to utilize data processing, storage capabilities and other services provided
by AWS. Currently, we run the vast majority of our computing on AWS. In addition, Amazon&rsquo;s retail division competes with
us for users, and Amazon could use, or restrict our use of, AWS to gain a competitive advantage against us. Because we rely heavily
on AWS for computing infrastructure and we cannot easily switch our AWS operations to another cloud provider, any disruption of
or interference with our use of AWS would impact our operations and our business would be adversely affected. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>If the technology we use in operating our business
fails, is unavailable, or does not operate to expectations, our business and results of operation could be adversely impacted.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We utilize a combination of proprietary
and third-party technology to operate our business. This includes the technology that we have developed to recommend and promote
content to our consumers as well as enable fast and efficient delivery of content to our users and their various consumer electronic
devices. If our recommendation and promotion capabilities do not enable us to predict and recommend titles that our users will
enjoy, our ability to attract and retain users may be adversely affected. We also utilize third-party technology to help market
our service, process payments and otherwise manage the daily operations of our business. If our technology or that of third parties
we utilize in our operations fails or otherwise operates improperly, including as a result of &ldquo;bugs&rdquo; in our development
and deployment of software, our ability to operate our service, retain existing users and add new users may be impaired. In addition,
any harm to our users&rsquo; personal computers or other devices caused by software used in our operations could have an adverse
effect on our business, results of operations and financial condition. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Interruptions or delays in service arising from our
own systems or from our third-party vendors could impair the delivery of our service and harm our business.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We rely on systems housed at our own
premises and at those of third-party vendors, including network service providers and data center facilities, to enable viewers
to stream our content in a dependable and efficient manner. We have experienced, and expect to continue to experience, periodic
service interruptions and delays involving our own systems and those of our third-party vendors. We do not currently maintain
live fail-over capability that would allow us to instantaneously switch our streaming operations from AWS to another cloud provider
in the event of a service outage at AWS. We house the primary, current copy of our library database at our main premises. We update
copies of our content on a weekly basis and house these copies offsite. Both our own facilities and those of our third-party vendors
are vulnerable to damage or interruption from earthquakes, floods, fires, power loss, telecommunications failures and similar
events. They also are subject to break-ins, hacking, denial of service attacks, sabotage, intentional acts of vandalism, terrorist
acts, natural disasters, human error, the financial insolvency of our third-party vendors and other unanticipated problems or
events. The occurrence of any of these events could result in interruptions in our service and the unauthorized access to, or
alteration of, the content and data contained on our systems and that these third-party vendors store and deliver on our behalf. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We do not exercise complete control
over our third-party vendors, which makes us vulnerable to any errors, interruptions, or delays in their operations. Any disruption
in the services provided by these vendors could have a significant adverse impact on our business reputation, customer relations
and operating results. Upon expiration or termination of any of our agreements with third party vendors, we may not be able to
replace the services provided to us in a timely manner or on terms and conditions, including service levels and cost, that are
favorable to us, and a transition from one vendor to another vendor could subject us to operational delays and inefficiencies
until the transition is complete. </P>

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

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

<!-- Field: Page; Sequence: 29; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Some of our services and technologies may use open
source software, which may restrict how we use or distribute our service or require that we release the source code of certain
services subject to those licenses.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Some of our services and technologies
may incorporate software licensed under open source licenses. Such open source licenses often require that source code subject
to the license be made available to the public and that any modifications or derivative works to open source software continue
to be licensed under open source licenses. Few courts have interpreted open source licenses, and the manner in which these licenses
may be interpreted and enforced is therefore subject to some uncertainty. We rely on multiple employee and non-employee software
programmers to design our proprietary technologies, and since we may not be able to exercise complete control over the development
efforts of all such programmers we cannot be certain that they have not incorporated open source software into our products and
services without our knowledge, or that they will not do so in the future. In the event that portions of our proprietary technology
are determined to be subject to certain open source licenses, we may be required to publicly release the affected portions of
our source code, be forced to re-engineer all or a portion of our technologies, or otherwise be limited in the licensing of our
technologies, each of which could reduce the value of our services and technologies and materially and adversely affect our ability
to sustain and grow our business. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Changes in how network operators handle and charge
for access to data that travel across their networks could adversely impact our business.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We rely upon the ability of consumers
to access our service through the internet. If network operators block, restrict or otherwise impair access to our service over
their networks, our service and business could be negatively affected. To the extent that network operators implement usage-based
pricing, including meaningful bandwidth caps, or otherwise try to monetize access to their networks by data providers, we could
incur greater operating expenses and our user acquisition and retention could be negatively impacted. Furthermore, to the extent
network operators create tiers of internet access service and either charge us for or prohibit us from having our content available
through these tiers, our business could be negatively impacted. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Most network operators that provide
consumers with access to the internet also provide these consumers with multichannel video programming. As such, many network
operators have an incentive to use their network infrastructure in a manner adverse to our continued growth and success. To the
extent that network operators are able to provide preferential treatment to their data as opposed to ours or otherwise implement
discriminatory network management practices, our business could be negatively impacted. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>We are at risk of attempts at unauthorized access
to our service, and failure to effectively prevent and remediate such attempts could have an adverse impact on our business, operating
results and financial condition.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We may be impacted by attempts of third
parties to manipulate and exploit our software for the purpose of gaining unauthorized access to our service. If in the future
we fail to successfully detect and address such issues, it may have artificial effects on our key performance indicators, such
as advertising reach. It should be noted that since unauthorized access to our service may in the future happen through exploitation
of software vulnerabilities, once a new method of doing so is developed by third parties, the level of unauthorized access (and
attendant negative financial impact described above, if at all) may increase over time as third parties share the method until
we find a way to prevent the unauthorized access, assuming we are able to do so at all. Additionally, individuals using unauthorized
versions of our application are unlikely to subscribe to our paid CuriosityStream service. Moreover, once we detect and correct
such unauthorized access and any key performance indicators it affects, investor confidence in the integrity of our key performance
indicators could be undermined. All of the above consequences of unauthorized access to our service could have material and adverse
effects on our business, operating results and financial condition. </P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Privacy concerns could limit our ability to collect
and leverage our user data and disclosure of user data could adversely impact our business and reputation.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In the ordinary course of business
and in particular in connection with content acquisition and merchandising our service to our users, we collect and utilize data
supplied by or obtained from our users. We currently face certain legal obligations regarding the manner in which we treat such
information, including the EU&rsquo;s General Data Protection Regulation or the &ldquo;GDPR&rdquo; and the California Consumer
Privacy Act (&ldquo;CCPA&rdquo;). The GDPR, which went into effect in May 2018, imposes strict requirements for processing personal
data of individuals within the European Economic Area (&ldquo;EEA&rdquo;). Companies that must comply with the GDPR face increased
compliance obligations and risk, including more robust regulatory enforcement of data protection requirements and potential fines
for noncompliance of up to &euro;20 million or 4% of the annual global revenues of the noncompliant company, whichever is greater.
Data privacy laws in the EU are developing rapidly and, in July 2020, the Court of Justice of the European Union limited how organizations
could lawfully transfer personal data from the EEA to the United States by invalidating the Privacy Shield. Relatedly, following
the United Kingdom&rsquo;s withdrawal from the EEA and the EU, and the expiry of the transition period, companies have to comply
with both the GDPR and the GDPR as incorporated into United Kingdom national law, the latter regime having the ability to separately
fine up to the greater of &pound;17.5 million or 4% of global turnover. The relationship between the United Kingdom and the EU
in relation to certain aspects of data protection law remains unclear, for example around how data can lawfully be transferred
between each jurisdiction, which may expose us to further compliance risk. </P>

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

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

<!-- Field: Page; Sequence: 30; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Further, the CCPA went into effect
on January 1, 2020, which, among other things, imposes new data privacy obligations on covered companies and provides expanded
privacy rights to California residents, including the right to access, delete and opt out of certain disclosures of their information.
The CCPA provides for civil penalties for violations, as well as a private right of action with statutory damages for certain
data breaches, which may increase the frequency and likelihood of data breach litigation. Further, the California Privacy Rights
Act (&ldquo;CPRA&rdquo;) recently passed in California. The CPRA will impose additional data protection obligations on covered
businesses, including additional consumer rights processes, limitations on data uses, new audit requirements for higher risk data,
and opt outs for certain uses of sensitive data. It will also create a new California data protection agency authorized to issue
substantive regulations and could result in increased privacy and information security enforcement. The majority of the provisions
will go into effect on January 1, 2023, and additional compliance investment and potential business process changes may be required. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The global data protection landscape
is rapidly evolving, and we are or may become subject to numerous state, federal and foreign laws, requirements and regulations
governing the collection, use, disclosure, retention, and security of personal data. Implementation standards and enforcement
practices are likely to remain uncertain for the foreseeable future, and we cannot yet determine the impact future laws, regulations,
standards, or perception of their requirements may have on our business. This evolution may create uncertainty in our business,
affect our ability to operate in certain jurisdictions or to collect, store, transfer, use and share personal information, necessitate
the acceptance of more onerous obligations in our contracts, result in liability or impose additional costs on us. The cost of
compliance with these laws, regulations and standards is high and is likely to increase in the future. Any actual or perceived
failure to comply with the GDPR, the CCPA, the CPRA, other data privacy laws or regulations, or related contractual or other obligations,
or any perceived privacy rights violation, could lead to investigations, claims, and proceedings by governmental entities and
private parties, damages for contract breach, and other significant costs, penalties, and other liabilities, as well as harm to
our reputation and market position. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Other businesses have been criticized
by privacy groups and governmental bodies for attempts to link personal identities and other information to data collected on
the internet regarding users&rsquo; browsing and other habits. Increased regulation of data utilization practices, including new
and evolving laws globally, self-regulation, or findings under existing laws that limit our ability to collect, transfer and use
data, could have an adverse effect on our business. In addition, if we were to disclose data about our users in a manner that
was objectionable to them, including pursuant to governmental process, our business reputation could be adversely affected, and
we could face potential legal claims, reputational loss, or enforcement actions that could impact our operating results. Internationally,
we may become subject to additional and/or more stringent legal obligations concerning our treatment of customer and other personal
information, and data generally, such as laws regarding data localization and/or restrictions on data export. Failure to comply
with these obligations could subject us to liability, and to the extent that we need to alter our business model or practices
to adapt to these obligations, we could incur additional expenses. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Our reputation and relationships with users would
be harmed if our user data, particularly billing data, were to be accessed by unauthorized persons.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We maintain personal data regarding
our users, including names and email addresses. This data is maintained on our own systems as well as that of third parties we
use in our operations. With respect to billing data, such as credit card numbers, we and our subscribers rely on third parties
to collect and secure such information. We take measures to protect against unauthorized intrusion into our users&rsquo; data.
Despite these measures we, our payment processing services or other third-party services we use such as AWS, Stripe or PayPal,
could experience an unauthorized intrusion into our users&rsquo; data. We also may be required to notify regulators about any
actual or perceived data breach (including the EU Lead Data Protection Authority) as well as the individuals who are affected
by the incident within strict time periods. In the event of such a breach, current and potential users may become unwilling to
provide the information to us necessary for them to become users. Additionally, we could face legal claims or regulatory fines
or penalties for such a breach. The costs relating to any data breach could be material, even though we currently carry insurance
against the risk of a data breach. We also maintain employment and personal information concerning our employees. Should an unauthorized
intrusion into our users&rsquo; or employees&rsquo; data occur, our business could be adversely affected and our broader reputation
with respect to data protection could be negatively impacted. </P>

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

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

<!-- Field: Page; Sequence: 31; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>We could be subject to economic, political, regulatory
and other risks arising from our international operations.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Operating in international markets
requires significant resources and management attention and will subject us to regulatory, economic and political risks that may
be different from or incremental to those in the United&nbsp;States. In addition to the risks that we face in the United&nbsp;States,
our international operations involve risks that could adversely affect our business, including: </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> new
                                         and different sources of competition; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> different
                                         and more stringent user protection, data protection, privacy and other laws, including
                                         data localization requirements; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> adverse
                                         tax consequences such as those related to changes in tax laws or tax rates or their interpretations,
                                         and the related application of judgment in determining our global provision for income
                                         taxes, deferred tax assets or liabilities or other tax liabilities given the ultimate
                                         tax determination is uncertain; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> different
                                         or more onerous or costly rights society collection royalties and charges; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> the
                                         need to adapt our content and user interfaces for specific cultural and language differences,
                                         including in-licensing a certain portion of our content assets before we have developed
                                         a full appreciation for its performance within a given territory; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> difficulties
                                         in complying with territorial licenses; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> difficulties
                                         and costs associated with staffing and managing foreign operations; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> management
                                         distraction; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> political
                                         or social unrest and economic instability; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> compliance
                                         with U.S. laws such as the Foreign Corrupt Practices Act, export controls and economic
                                         sanctions, and local laws prohibiting corrupt payments to government officials; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> difficulties
                                         in understanding and complying with local laws, regulations and customs in foreign jurisdictions; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> regulatory
                                         requirements or government action against our service, whether in response to enforcement
                                         of actual or purported legal and regulatory requirements or otherwise, that results in
                                         disruption or non-availability of our service or particular content in the applicable
                                         jurisdiction; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> foreign
                                         intellectual property laws, such as the EU copyright directive, or changes to such laws,
                                         which may be less favorable than U.S. law and, among other issues, may impact the economics
                                         of creating or distributing content, anti-piracy efforts, or our ability to protect or
                                         exploit intellectual property rights; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> fluctuations
                                         in currency exchange rates, which we do not use foreign exchange contracts or derivatives
                                         to hedge against and which could impact revenues and expenses of our international operations
                                         and expose us to foreign currency exchange rate risk; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> profit
                                         repatriation and other restrictions on the transfer of funds; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> differing
                                         payment processing systems as well as consumer use and acceptance of electronic payment
                                         methods, such as payment cards; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> censorship
                                         requirements that cause us to remove or edit content or make other accommodations that
                                         lead to consumer disappointment or dissatisfaction with our service; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> low
                                         usage and/or penetration of internet-connected consumer electronic devices; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> availability
                                         of reliable broadband connectivity and wide area networks in targeted areas for expansion; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> integration
                                         and operational challenges as well as potential unknown liabilities in connection with
                                         companies we may acquire or control; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> </P>

<!-- Field: Page; Sequence: 32; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> differing,
                                         and often more lenient, laws and consumer understanding/attitudes regarding the illegality
                                         of piracy; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> negative
                                         impacts from trade disputes; and </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> implementation
                                         of regulations designed to stimulate the local production of film and TV series in order
                                         to promote and preserve local culture and economic activity, including local content
                                         quotas, investment obligations, and levies to support local film funds. For example,
                                         the EU recently revised its Audio Visual Media Services Directive to require that European
                                         works comprise at least thirty (30) percent of media service providers&rsquo; catalogs,
                                         and to require prominence of those works. </TD>
</TR></TABLE>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Our failure to manage any of these
risks successfully could harm our international operations and could have an adverse effect on our overall business and results
of operations. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>We are potentially subject to taxation related risks
in multiple jurisdictions, and changes in U.S. tax laws, in particular, could have a material adverse effect on our business,
cash flow, results of operations or financial condition.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We are a U.S.-based company potentially
subject to tax in multiple U.S. and non-U.S. tax jurisdictions. Significant judgment will be required in determining our global
provision for income taxes, deferred tax assets or liabilities and in evaluating our tax positions on a worldwide basis. While
we believe our tax positions are consistent with the tax laws in the jurisdictions in which we conduct our business, it is possible
that these positions may be overturned by jurisdictional tax authorities, which may have a significant impact on our global provision
for income taxes. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Tax laws are dynamic and subject to
change as new laws are passed and new interpretations of the law are issued or applied. In particular, the United&nbsp;States
recently enacted significant U.S. federal income tax reform, and certain provisions of this new U.S. federal income tax law may
adversely affect us. This new U.S. federal income tax law requires complex computations that were not previously provided for
under U.S. tax law. Furthermore, this new U.S. federal income tax law requires significant judgments to be made in interpretation
of the law and significant estimates in the calculation of the provision for income taxes. Additional interpretive guidance may
be issued by the U.S. Internal Revenue Service, the U.S. Department of the Treasury or another governing body that may significantly
differ from the Company&rsquo;s interpretation of this new U.S. federal income tax law, which may result in a material adverse
effect on our business, cash flow, results of operations or financial condition. In addition, governmental tax authorities are
increasingly scrutinizing the tax positions of companies. Many countries in the EU, as well as a number of other countries and
organizations such as the Organization for Economic Cooperation and Development, are actively considering changes to existing
tax laws that, if enacted, could increase our tax obligations in countries where we do business. If U.S. or non-U.S. tax authorities
change applicable tax laws, our overall taxes could increase, and our business, financial condition or results of operations may
be adversely impacted. </P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>We may lose key employees or may be unable to hire
qualified employees.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We rely on the continued service of
our senior management and other key individuals, our Chairman and the founder of our predecessor CuriosityStream LLC, John Hendricks
and our President and Chief Executive Officer, Clint Stinchcomb, members of our executive team and other key employees and the
hiring of new qualified employees. In our industry, there is substantial and continuous competition for highly skilled business,
product development, technical and other personnel. We may not be successful in recruiting new personnel and in retaining and
motivating existing personnel, which may be disruptive to our operations. In addition, from time to time, there may be changes
in our management team that may be disruptive to our business. If our management team, including any new hires that we make, fails
to work together effectively and to execute our plans and strategies on a timely basis, our business could be harmed. Our effort
to retain and develop personnel may also result in significant additional expenses, which could adversely affect our profitability. </P>

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

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

<!-- Field: Page; Sequence: 33; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Risks Relating to Ownership of Our Common Stock</B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Because there are no current plans to pay cash dividends
on our Common Stock for the foreseeable future, you may not receive any return on your investment in our Common Stock unless you
sell your shares of our Common Stock for a price greater than that which you paid for it.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We intend to retain future earnings,
if any, for future operations, expansion and debt repayment (for any debt we may incur in the future) and there are no current
plans to pay cash dividends on shares of our Common Stock for the foreseeable future. The declaration, amount and payment of any
future dividends on shares of our Common Stock will be at the sole discretion of our Board. Our Board may take into account general
and economic conditions, our financial condition and results of operations, our available cash and current and anticipated cash
needs, capital requirements, contractual, legal, tax, and regulatory restrictions, implications on the payment of dividends by
us to our stockholders or by our subsidiaries to us and such other factors as our Board may deem relevant. In addition, our ability
to pay dividends is limited by covenants of our existing and outstanding indebtedness and may be limited by covenants of any future
indebtedness we incur. As a result, you may not receive any return on an investment in our Common Stock unless you sell your shares
of our Common Stock for a price greater than that which you paid for it. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Future sales, or the perception of future sales, by
us or our stockholders in the public market could cause the market price for our Common Stock to decline.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The sale of shares of our Common Stock
in the public market, or the perception that such sales could occur, could harm the prevailing market price of shares of our Common
Stock. These sales, or the possibility that these sales may occur, also might make it more difficult for us to sell equity securities
in the future at a time and at a price that it deems appropriate. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> As of March 26, 2021, we had 52,548,000
shares of our Common Stock outstanding. All of these shares are freely tradable without restriction or further registration under
the Securities Act, except for shares of Common Stock held by certain of our &ldquo;affiliates,&rdquo; as that term is defined
in Rule&nbsp;144 under the Securities Act (&ldquo;Rule&nbsp;144&rdquo;). </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In connection with the Offering we
consummated on February 8, 2021, our directors and executive officers entered into customary lock-up agreements with Bank of America
Securities, Inc., the representative of the underwriters in the Offering, the term of which is 90 days following the pricing of
the Offering (with the exception of certain directors who are subject to a 60-day lock-up). </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In connection with the Business Combination,
the directors and officers of Legacy CuriosityStream agreed with SAQN not to dispose of or hedge any of their common stock or
securities convertible into or exchangeable for shares of our Common Stock, subject to certain exceptions for PIPE Shares. The
term of this lock-up is 180&nbsp;days following the closing of the Business Combination on October 14, 2020. </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"> Prior to the Business
Combination, in connection with SAQN&rsquo;s IPO, the Sponsor agreed to a lock-up of the 3,593,750 shares that were originally
issued to the Sponsor by SAQN in June 2019 for an aggregate purchase price of $25.0 million in cash (and any shares of common
stock issuable upon conversion thereof). On November 18, 2020, in connection with the Sponsor&rsquo;s distribution of these shares
to its members, each member agreed to become subject to this lock-up. The term of this lock-up is the earlier of one year following
the closing of the Business Combination or the date on which the last sale price of our Common Stock is at least $12 per share
for any 20 trading days within a 30 trading-day period commencing March 13, 2021. All of these shares will be eligible for resale,
subject to volume, manner of sale and other limitations under Rule&nbsp;144 on October 15, 2021, provided the lock-ups described
above have expired or have been waived. </P>

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

<!-- Field: Page; Sequence: 34; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 0.25in"> In addition, pursuant to the Investor
Rights Agreement, dated October 14, 2020, by and among the Sponsor, SAQN, HFM, CuriosityStream Inc. and the officers and directors
of Legacy CuriosityStream party thereto (the &ldquo;Investor Rights Agreement&rdquo;), the officers and directors party to the
Investor Rights Agreement will have the right, subject to certain conditions, to require us to register the sale of their shares
of our Common Stock under the Securities Act on or after April 12, 2021. By exercising their registration rights and selling a
large number of shares, these stockholders could cause the prevailing market price of our Common Stock to decline. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In addition, the shares of our Common
Stock reserved for future issuance under our Omnibus Incentive Plan will become eligible for sale in the public market once those
shares are issued, subject to provisions relating to various vesting agreements, lock-up agreements and, in some cases, limitations
on volume and manner of sale applicable to affiliates under Rule&nbsp;144, as applicable, and the general availability of Rule
144 to such affiliates. A total of 7,725,000 shares of our Common Stock were reserved for issuance under our Omnibus Incentive
Plan at inception. The compensation committee of our Board may determine the exact number of shares to be reserved for future
issuance under our Omnibus Incentive Plan at its discretion. These shares were registered under a Registration Statement on Form&nbsp;S-8
(File No.&nbsp;333-249556) on December 14, 2020. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In the future, we may also issue our
securities in connection with investments or acquisitions. The amount of shares of our Common Stock issued in connection with
an investment or acquisition could constitute a material portion of our then-outstanding shares of Common Stock. Any issuance
of additional securities in connection with investments or acquisitions may result in additional dilution to our stockholders. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Certain of our stockholders may engage in business
activities that compete with us or otherwise conflict with our interests.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Certain of our stockholders are in
the business of making investments in companies and may from time to time acquire and hold interests in businesses that compete
directly or indirectly with us. Our Charter provides that none of the stockholder parties, any of their respective affiliates
or any director who is not employed by us (including any non-employee director who serves as one of our officers in both his director
and officer capacities) or his or her affiliates will have any duty to refrain from engaging, directly or indirectly, in the same
business activities or similar business activities or lines of business in which we operate. The stockholder parties also may
pursue acquisition opportunities that may be complementary to our business and, as a result, those acquisition opportunities may
not be available to us. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I></I></B></FONT></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>We are an &ldquo;emerging growth company,&rdquo; and
the reduced disclosure requirements applicable to emerging growth companies may make our Common Stock less attractive to investors.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We are an &ldquo;emerging growth company,&rdquo;
as defined in the JOBS Act, and may remain an emerging growth company for up to five years. For so long as we remain an emerging
growth company, we are permitted and plan to rely on exemptions from certain disclosure requirements that are applicable to other
public companies that are not emerging growth companies. These exemptions include not being required to comply with the auditor
attestation requirements of the Sarbanes-Oxley Act Section&nbsp;404, not being required to comply with any requirement that may
be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor&rsquo;s
report providing additional information about the audit and the financial statements, reduced disclosure obligations regarding
executive compensation, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and
stockholder approval of any golden parachute payments not previously approved. As a result, the information we provide stockholders
will be different than the information that is available with respect to other public companies. For example, in the proxy for
our upcoming 2021 annual meeting, we will not include all of the executive compensation related information that would be required
if we were not an emerging growth company. We cannot predict whether investors will find our Common Stock less attractive if we
rely on these exemptions. If some investors find our Common Stock less attractive as a result, there may be a less active trading
market for our Common Stock, and our stock price may be more volatile. </P>

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

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

<!-- Field: Page; Sequence: 35; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In addition, the JOBS Act provides
that an emerging growth company can take advantage of an extended transition period for complying with new or revised accounting
standards. This allows an emerging growth company to delay the adoption of certain accounting standards until those standards
would otherwise apply to private companies. We have elected to avail ourselves of this exemption from new or revised accounting
standards. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>NASDAQ may delist our securities from trading on its
exchange, which could limit investors&rsquo; ability to make transactions in our securities and subject us to additional trading
restrictions.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Our Common Stock and Warrants are listed
on the NASDAQ. We cannot assure you that our securities will continue to be listed on the NASDAQ in the future. In order to continue
listing our securities on the NASDAQ, we must maintain certain financial, distribution and stock price levels. Generally, we must
maintain a minimum amount in stockholders&rsquo; equity (generally $2,500,000 for companies trading on the NASDAQ) and a minimum
number of holders of our securities (generally 300 public holders). </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> If NASDAQ delists our securities from
trading on its exchange and we are not able to list our securities on another national securities exchange, we expect our securities
could be quoted on an over-the-counter market. If this were to occur, we could face significant material adverse consequences,
including: </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> a limited
                                         availability of market quotations for our securities; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> reduced
                                         liquidity for our securities; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> a determination
                                         that our Common Stock is a &ldquo;penny stock&rdquo; which will require brokers trading
                                         in our Common Stock to adhere to more stringent rules and possibly result in a reduced
                                         level of trading activity in the secondary trading market for our securities; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> a limited
                                         amount of news and analyst coverage; and </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> a decreased
                                         ability to issue additional securities or obtain additional financing in the future. </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The National Securities Markets Improvement
Act of 1996, which is a federal statute, prevents or preempts the states from regulating the sale of certain securities, which
are referred to as &ldquo;covered securities.&rdquo; Since our Common Stock and Warrants are listed on the NASDAQ, they are covered
securities. Although the states are preempted from regulating the sale of covered securities, the federal statute does allow the
states to investigate companies if there is a suspicion of fraud, and, if there is a finding of fraudulent activity, then the
states can regulate or bar the sale of covered securities in a particular case. If we were to be no longer listed on the NASDAQ,
our securities would not be covered securities and we would be subject to regulation in each state in which we offer our securities. </P>

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

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

<!-- Field: Page; Sequence: 36; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Our stock price may change significantly and you could
lose all or part of your investment as a result.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The trading price of
our Common Stock is likely to be volatile. The stock market recently has experienced extreme volatility. This volatility often has been
unrelated or disproportionate to the operating performance of particular companies. You may not be able to resell your shares at an attractive
price due to a number of factors such as those listed in &ldquo;&mdash; <I>Risks Relating to the Company&rsquo;s Business</I>&rdquo;
and the following: </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> results
                                         of operations that vary from the expectations of securities analysts and investors; </TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> results
                                         of operations that vary from those of our competitors; </TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> changes
                                         in expectations as to our future financial performance, including financial estimates
                                         and investment recommendations by securities analysts and investors; </TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> declines
                                         in the market prices of stocks generally; </TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> strategic
                                         actions by us or our competitors; </TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> announcements
                                         by us or our competitors of significant contracts, acquisitions, joint ventures, other
                                         strategic relationships or capital commitments; </TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> any
                                         significant change in our management; </TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> changes
                                         in general economic or market conditions or trends in our industry or markets; </TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> changes
                                         in business or regulatory conditions, including new laws or regulations or new interpretations
                                         of existing laws or regulations applicable to our business; </TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> future
                                         sales of our Common Stock or other securities; </TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> investor
                                         perceptions or the investment opportunity associated with our Common Stock relative to
                                         other investment alternatives; </TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> the
                                         public&rsquo;s response to press releases or other public announcements by us or third
                                         parties, including our filings with the SEC; </TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> litigation
                                         involving us, our industry, or both, or investigations by regulators into our operations
                                         or those of our competitors; </TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> guidance,
                                         if any, that we provide to the public, any changes in this guidance or our failure to
                                         meet this guidance; </TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> the
                                         development and sustainability of an active trading market for our Common Stock; </TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> actions
                                         by institutional or activist stockholders; </TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> changes
                                         in accounting standards, policies, guidelines, interpretations or principles; and </TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> other
                                         events or factors, including those resulting from natural disasters, war, acts of terrorism
                                         or responses to these events. </TD>
</TR></TABLE>

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

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

<!-- Field: Page; Sequence: 37; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> These broad market and industry fluctuations
may adversely affect the market price of our Common Stock, regardless of our actual operating performance. In addition, price
volatility may be greater if the public float and trading volume of our Common Stock is low. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In the past, following periods of market
volatility, stockholders have instituted securities class&nbsp;action litigation. If we were involved in securities litigation,
it could have a substantial cost and divert resources and the attention of executive management from our business regardless of
the outcome of such litigation. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>If securities analysts do not publish research or
reports about our business or if they downgrade our stock or our sector, our stock price and trading volume could decline.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The trading market for our Common Stock
will rely in part on the research and reports that industry or financial analysts publish about us or our business. We will not
control these analysts. In addition, some financial analysts may have limited expertise with our model and operations. Furthermore,
if one or more of the analysts who do cover us downgrade our stock or industry, or the stock of any of our competitors, or publish
inaccurate or unfavorable research about our business, the price of our stock could decline. If one or more of these analysts
ceases coverage of us or fails to publish reports on us regularly, we could lose visibility in the market, which in turn could
cause our stock price or trading volume to decline. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>An active, liquid trading market
for our Common Stock may not be sustained, which may cause our Common Stock to trade at a discount from the public offering price
and make it difficult for you to sell the Common Stock you purchased.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We cannot predict
the extent to which investor interest in us will sustain a trading market or how active and liquid that market may remain. If
an active and liquid trading market is not sustained, you may have difficulty selling any shares of our Common Stock that you
purchase at a price above the price you purchased it or at all. The failure of an active and liquid trading market to continue
would likely have a material adverse effect on the value of our Common Stock. The market price of our Common Stock may decline
below the public offering price, and you may not be able to sell your shares of our Common Stock at or above the price you paid
or at all. An inactive market may also impair our ability to raise capital to continue to fund operations by selling shares and
may impair our ability to acquire other companies or technologies by using our shares as consideration. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Anti-takeover provisions in our organizational documents
could delay or prevent a change of control.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Certain provisions of our Charter and
Bylaws may have an anti-takeover effect and may delay, defer or prevent a merger, acquisition, tender offer, takeover attempt
or other change of control transaction that a stockholder might consider in its best interest, including those attempts that might
result in a premium over the market price for the shares held by our stockholders. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> These provisions provide for, among
other things: </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> the
                                         ability of our Board to issue one or more series of preferred stock; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> advance
                                         notice for nominations of directors by stockholders and for stockholders to include matters
                                         to be considered at our annual meetings; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> certain
                                         limitations on convening special stockholder meetings; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> limiting
                                         the ability of stockholders to act by written consent; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> providing
                                         that our Board is expressly authorized to make, alter or repeal our Bylaws; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> the
                                         removal of directors only for cause and only upon the affirmative vote of holders of
                                         at least 66 2/3% of the shares of Common Stock entitled to vote generally in the election
                                         of directors if the stockholder parties and their affiliates hold less than 30% of our
                                         outstanding shares of Common Stock; and </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> that
                                         certain provisions may be amended only by the affirmative vote of at least 30% of the
                                         shares of Common Stock entitled to vote generally in the election of directors if the
                                         stockholder parties and their affiliates hold less than 30% of our outstanding shares
                                         of Common Stock. </TD>
</TR></TABLE>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> These anti-takeover provisions could
make it more difficult for a third-party to acquire us, even if the third-party&rsquo;s offer may be considered beneficial by
many of our stockholders. As a result, our stockholders may be limited in their ability to obtain a premium for their shares.
These provisions could also discourage proxy contests and make it more difficult for you and other stockholders to elect directors
of your choosing and to cause us to take other corporate actions you desire. See &ldquo;<I>Description of Securities</I>.&rdquo; </P>

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

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

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

<!-- Field: Page; Sequence: 38; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Our Charter designates the Court of Chancery of the
State of Delaware as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders,
which could limit our stockholders&rsquo; ability to obtain a favorable judicial forum for disputes with us or our directors,
officers, employees or stockholders.</I></B> </P>

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

<P STYLE="text-align: justify; text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Our Charter provides that, subject to limited exceptions,
any (1)&nbsp;derivative action or proceeding brought on our behalf, (2)&nbsp;action asserting a claim of breach of a fiduciary
duty owed by any director, officer, stockholder or employee to us or our stockholders, (3)&nbsp;action asserting a claim arising
pursuant to any provision of the DGCL or our Charter or Bylaws, or (4)&nbsp;action asserting a claim governed by the internal
affairs doctrine shall, to the fullest extent permitted by law, be exclusively brought in the Court of Chancery of the State of
Delaware or, if such court does not have subject matter jurisdiction thereof, another state or federal court located within the
State of Delaware. Our Charter provides that the federal district courts of the United&nbsp;States shall be the exclusive forum
for the resolution of any complaint asserting a cause of action arising under the Securities Act. Notwithstanding the foregoing,
the exclusive forum provision shall not apply to claims seeking to enforce any liability or duty created by the Exchange Act.
Any person or entity purchasing or otherwise acquiring any interest in shares of our capital stock shall be deemed to have notice
of and to have consented to the provisions of our Charter described above. This choice of forum provision may limit a stockholder&rsquo;s
ability to bring a claim in a judicial forum that it finds favorable for disputes with us or our directors, officers or other
employees, which may discourage such lawsuits against us and our directors, officers and employees. Alternatively, if a court
were to find these provisions of our Charter inapplicable to, or unenforceable in respect of, one or more of the specified types
of actions or proceedings, we may incur additional costs associated with resolving such matters in other jurisdictions, which
could adversely affect our business and financial condition. </P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>From time to time, we may be engaged in legal proceedings
that could cause us to incur unforeseen expenses and could occupy a significant amount of our management&rsquo;s time and attention.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> From time to time, we may be subject
to litigation or claims that could negatively affect our business operations and financial position. As we grow, we would expect
to be involved in litigation from time to time. These matters could include copyright and other claims related to our content,
use of music, patent infringements, employment claims, claims about our platform&rsquo;s compliance with disability accommodation,
data collection and privacy law, as well as consumer and securities class&nbsp;actions, each of which are typically expensive
to defend. Litigation disputes could cause us to incur unforeseen expenses, result in content unavailability, service disruptions
and otherwise occupy a significant amount of our management&rsquo;s time and attention, any of which could negatively affect our
business operations and financial position. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>We incur significant costs as a result of operating
as a public company.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We are subject to the reporting requirements
of the Exchange Act, the Sarbanes-Oxley Act, the Dodd-Frank Act, the listing requirements of the NASDAQ and other applicable securities
laws and regulations, and, as a result, we incur significant legal, accounting and other expenses. These expenses incurred by
public companies generally for reporting and corporate governance purposes have been increasing. We expect these rules and regulations
to continue to increase our legal and financial compliance costs and to make some activities more difficult, time-consuming and
costly. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We are required to ensure that we have
the ability to prepare financial statements on a timely basis that fully comply with all SEC reporting requirements and maintain
effective internal controls over financial reporting. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The additional demands associated with
being a public company may disrupt regular operations of our business by diverting the attention of some of our senior management
team away from revenue producing activities to management and administrative oversight, adversely affecting our ability to attract
and complete business opportunities and increasing the difficulty in both retaining professionals and managing and growing our
businesses. In addition, failure to comply with any laws or regulations applicable to us as a public company may result in legal
proceedings and/or regulatory investigations and may cause reputational damage. Being a public company and being subject to such
rules and regulations also makes it more expensive for us to obtain director and officer liability insurance, and we may be required
to accept reduced coverage or incur substantially higher costs to obtain coverage. These laws and regulations could also make
it more difficult for us to attract and retain qualified persons to serve on our board of directors, our board committees or as
our executive officers. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Furthermore, if we are unable to satisfy
our obligations as a public company, we could be subject to delisting of our Common Stock, fines, sanctions and other regulatory
action and potentially civil litigation. Any of these effects could harm our business, financial condition, and results of operations. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Compliance obligations under the Sarbanes-Oxley Act
require substantial financial and management resources.</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> As a privately held company, our predecessor,
CuriosityStream LLC was not subject to Section&nbsp;404 of the Sarbanes-Oxley Act. The standards required for a public company
under Section&nbsp;404 of the Sarbanes-Oxley Act requires that we evaluate and report on our system of internal controls. For
as long as we remain an emerging growth company, we will not be required to comply with the independent registered public accounting
firm attestation requirement on our internal control over financial reporting. However, in the event we are deemed to be an accelerated
filer or a large accelerated filer and no longer qualify as an emerging growth company, we will be required to comply with the
independent registered public accounting firm attestation requirement on our internal control over financial reporting. The development
of the internal control system to achieve compliance with the Sarbanes-Oxley Act may impose obligations on us and require substantial
additional financial and management resources. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B></B></FONT></P>

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

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

<!-- Field: Page; Sequence: 39; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><A NAME="a_008"></A>USE
OF PROCEEDS</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will not receive any of the proceeds from the sale of the shares of our Common Stock by the selling securityholders.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_009"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>MARKET
FOR OUR SECURITIES</B></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our Common Stock is traded
on the NASDAQ under the symbol &ldquo;CURI.&rdquo; Our Warrants are traded on the NASDAQ under the symbol &ldquo;CURIW.&rdquo; </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> As of March 26,
2021, there were: (a) 32 holders of record of our Common Stock and 52,548,000 shares of Common Stock issued and outstanding; and
(b) 9 holders of record of our Warrants and 6,730,203 Warrants outstanding. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_010"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>DIVIDEND
POLICY</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have not paid any cash dividends to date. The payment of cash dividends in the future will be dependent upon our revenues and
earnings, if any, capital requirements and general financial condition. The payment of any cash dividends will be within the discretion
of our Board. Our ability to declare dividends will also be limited by restrictive covenants pursuant to any debt financing. In
addition, our Board is not currently contemplating and does not anticipate declaring stock dividends in the foreseeable future.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_012"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>MANAGEMENT&rsquo;S
DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION<BR>
AND RESULTS OF OPERATIONS</B></FONT></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <I>On October 14, 2020, we acquired
Legacy CuriosityStream. The Business Combination was accounted for as a reverse recapitalization in accordance with Accounting
Standards Codification (&ldquo;ASC&rdquo;) 805, Business Combinations. Under this method of accounting, Software Acquisition Group
Inc., which was the legal acquirer in the Business Combination, was treated as the &ldquo;acquired&rdquo; company for financial
reporting purposes and Legacy CuriosityStream was treated as the accounting acquirer. Except as otherwise provided herein, our
financial statements presentation includes (1) the results of Legacy CuriosityStream as our accounting predecessor for periods
prior to the completion of the Business Combination, and (2) the results of the Company for periods after the completion of the
Business Combination.</I> </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; background-color: white"> <I>The
following discussion and analysis provides information that management believes is relevant to an assessment and understanding of our
results of operations and financial condition. The following discussion should be read in conjunction with the Company&rsquo;s financial
statements and notes thereto included elsewhere in this registration statement. This discussion contains forward-looking statements which
involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements
for many reasons, including the risks faced by us described in &ldquo;Risk Factors&rdquo; and elsewhere in this registration statement.
Unless the context otherwise requires, references in this &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and
Results of Operations&rdquo; to &ldquo;we,&rdquo; &ldquo;us,&rdquo; &ldquo;our,&rdquo; and &ldquo;the Company&rdquo; are intended to
mean the business and operations of Legacy CuriosityStream prior to the Business Combination and to CuriosityStream Inc., following the
closing of the Business Combination.</I> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 0.25in; background-color: white">&nbsp;</P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> CuriosityStream is a
media and entertainment company that offers premium video programming across the entire category of factual entertainment, including
science, history, society, nature, lifestyle and technology. Our mission is to provide premium factual entertainment that informs,
enchants and inspires. We are seeking to meet demand for high-quality factual entertainment via SVoD platforms, as well as via
bundled content licenses for SVoD and linear offerings, partner bulk sales, brand partnerships and content sales. We are
well-positioned for growth as a digital-native video platform monetizing content across this broad revenue stack. We operate our
business as a single operating segment that provides premium streaming content through multiple channels, including the use of
various applications, partnerships and affiliate relationships. We generate our revenue through six lines of business: Direct to
Consumer, Partner Direct Business, Bundled Distribution, Program Sales, Corporate &amp; Association Partnerships and Sponsorships.
For the year ended December 31, 2020, Direct to Consumer and Corporate &amp; Association Partnerships together represented
approximately 42% of our revenue as of December 31, 2020, followed by Bundled Distribution (approximately 35% of our revenue) and
Partner Direct Business (approximately 7% of our revenue)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">,
Program Sales (approximately 15% of our revenue) and Sponsorships (approximately 1% of our revenue). Our product and service lines
and channels through which we generate revenue are described in further detail below.</FONT> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Our content library features
more than 3,100 nonfiction episodes, including more than 1,000 original, commissioned or co-produced documentaries, of short-form, mid-form
and long-form duration, with an estimated $1 billion in original production value. Our content, approximately one-third of which is originally
produced and the other two-thirds of which is licensed programming, is available directly through our O&amp;O Service and App Services.
Our App Services enable access to CuriosityStream on almost every major consumer device, including streaming media players like Roku,
Apple TV and Amazon Fire TV, all major smart TV brands (e.g., LG, Vizio, Samsung, Sony) and gaming consoles like Xbox. Our Direct Service is available to any household in the world with a broadband connection for $2.99 per month
or $19.99 per year for high definition resolution, or $9.99 per month or $69.99 per year for service in 4K. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The MVPD, vMVPD and digital
distributor partners making up our Partner Direct Business pay us a license fee for sales to individuals who subscribe to CuriosityStream
via the partners&rsquo; respective platforms. We have affiliate agreement relationships with, and our service is available directly from,
major MVPDs that include Comcast, Cox, Dish and vMVPDs and digital distributors that include Amazon Prime Video Channels, Roku Channels,
Sling TV and YouTube TV. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 0.25in"></P>

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

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

<!-- Field: Page; Sequence: 40; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In addition to our Direct and Partner
Direct Businesses, we have affiliate relationships with MVPDs and Bundled MVPD Partners to whom we can offer a broad scope sets
of rights, including 24/7 &ldquo;linear&rdquo; channels, our on-demand content library, mobile rights and pricing and packaging
flexibility, in exchange for an annual fixed fee or fee per subscriber. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Our Corporate&nbsp;&amp; Association
Partnerships business to date has been comprised primarily of selling subscriptions in bulk to companies and organizations that
in turn offer these subscriptions to their employees and members as an employment benefit or &ldquo;gift of curiosity.&rdquo;
To date, over 30 companies have purchased annual subscriptions at bulk discounts for their employees. In the future, we hope to
enter into multi-year integrated partnerships where we create and distribute content in support of these partners&rsquo; CSR and
membership initiatives. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In the future, we hope to continue
developing&nbsp;integrated digital brand partnerships with advertisers. These sponsorship campaigns would offer companies the
chance to be associated with CuriosityStream content in a variety of forms, including short and long form program integration,
branded social media promotional videos, broadcast advertising spots, and digital display ads. We believe the impressions accumulated
in these multi-faceted campaigns would roll up to verifiable metrics for the clients. We executed on two such sponsorships in
2020: one in the financial services sector as well as a brand in the health and fitness sector. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The sixth line of
business in our revenue stack is our Program Sales Business. We are able to sell to certain media companies a collection of our
existing titles in a traditional program sales deal and as of December 31, 2020, we were party to a multi-year, multi-million dollar
program sales agreement with one such media company. We are also able to sell selected rights (such as in territories or on
platforms that are lower priority for us) to content we create before we even begin production. This latter model reduces risk in
our content development decisions and creates program sales revenue. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Prior to the Business Combination,
Software Acquisition Group Inc. was a blank check company, incorporated as a Delaware corporation on May 9, 2019 and formed for
the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. Until the consummation of the Business Combination, Software Acquisition Group Inc. did
not engage in any operations nor generate any revenue. On October 14, 2020, upon the consummation of the Business Combination,
Legacy CuriosityStream became Software Acquisition Group Inc.&rsquo;s direct subsidiary and in connection with the Closing, we
changed our name from &ldquo;Software Acquisition Group Inc.&rdquo; to &ldquo;CuriosityStream Inc.&rdquo; </P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> On February 8, 2021,
we consummated an underwritten public offering (the &ldquo;Offering&rdquo;) of 6,500,000 shares of the Company&rsquo;s common stock,
par value per share $0.0001 (&ldquo;Common Stock&rdquo;), plus an over-allotment option to purchase up to 975,000 additional shares of
Common Stock granted to the underwriters who participated in the Offering, which over-allotment option was exercised by the underwriters
in full on February 5, 2021. The net proceeds to us from the Offering were $94.1 million, after deducting underwriting discounts and
commissions and the offering expenses payable by us in connection with the Offering. The Offering was made pursuant to the Company&rsquo;s
Registration Statement on Form S-1, filed with the SEC on February 1, 2021 and declared effective on February 3, 2021. During the months
of January and February 2021, we received funds of approximately $55 million for the exercise of 4.8 million Warrants. The receipt of
the net proceeds from the Offering as well as proceeds received from the exercise of Warrants subsequent to December 31, 2020 has resulted
in a significant cash balance that has mitigated the Company&rsquo;s potential capital risk through at least 2021. </P>

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

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

<!-- Field: Page; Sequence: 41; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify"> <I>C<FONT STYLE="font-family: Times New Roman, Times, Serif"><B>OVID-19
Pandemic</B></FONT></I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In March
2020, the World Health Organization declared the outbreak of COVID-19 as a pandemic, which continues to spread
throughout&nbsp;the United States and globally. The full extent of the impact of the COVID-19 pandemic on our business,
operations and financial results will depend on numerous evolving factors that we may not be able to accurately predict. See
&ldquo;<I>Risk Factors</I>&rdquo; section set forth in this registration statement for additional details. In an effort to
protect the health and safety of our employees, our workforce has had and continues in most instances to spend a significant
amount of time working from home, international travel has been severely curtailed. Our other partners have similarly had
their operations disrupted, including those partners that we use for our operations as well as development, production, and
post-production of content. While we and our partners have resumed productions and related operations in many parts of the
world, our ability to produce content remains affected by the pandemic. In an effort to contain COVID-19 or slow its spread,
governments around the world have also enacted various measures, some of which have been subsequently rescinded, modified or
reinstated, including orders to close all businesses not deemed &ldquo;essential,&rdquo; isolate residents to their homes or
places of residence, and practice social distancing. We anticipate that these actions and the global health crisis caused by
COVID-19, including any resurgences, will continue to negatively impact business activity across the globe. We will continue
to actively monitor the situation and may take further actions that alter our business operations as may be required by
federal, state, local or foreign authorities, or that we determine are in the best interests of our employees, customers,
partners and stockholders. It is not clear what potential effects any such alterations or modifications may have on our
business, including the effects on our customers, suppliers or vendors, or on our financial results. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"> <B>&nbsp;</B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Our future operating results and cash
flows are dependent upon a number of opportunities, challenges and other factors, including our ability to efficiently grow our
subscriber base and expand our service offerings to maximize subscriber lifetime value. In particular, we believe that the following
factors significantly affected our results of operations over the last two fiscal years and are expected to continue to have such
significant effects: </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <B><I>&nbsp;</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <B><I>Revenues</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Currently, the main sources
of our revenue are (i)&nbsp;subscriber fees from Direct Business and Direct Subscribers, (ii)&nbsp;license fees from affiliates
who receive subscriber fees for CuriosityStream from such affiliates&rsquo; subscribers (&ldquo;Partner Direct Business&rdquo; and &ldquo;Partner
Direct Subscribers&rdquo;), (iii)&nbsp;bundled license fees from distribution affiliates (&ldquo;Bundled MVPD Business&rdquo; and &ldquo;Bundled
MVPD Subscribers&rdquo;), and (iv)&nbsp;license fees from program sales arrangements. As of December 31, 2020, we had approximately 15
million total paying subscribers, including Direct Subscribers, Partner Direct Subscribers and Bundled MVPD Subscribers. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Since our founding
in 2015, we have generated the majority of our revenues from Direct Subscribers in the form of monthly or annual subscription plans.
We charge $2.99 per month or $19.99 dollars per year for our Direct Service in high-definition resolution, or $9.99 per month or
$69.99 per year for service in 4K. The MVPD, vMVPD and digital distributor partners making up our Partner Direct Business pay us a
license fee. We recognize subscription revenues ratably during each subscriber&rsquo;s monthly or yearly subscription period. We pay
a fixed percentage distribution fee to our partners for subscribers accessing our platform via App Services to compensate these
partners for access to their customer and subscriber bases. Our MVPD, vMVPD and digital distributor partners host and stream our
content to their customers via their own platforms, such as set top boxes in the case of most MVPDs. We do not incur billing,
streaming or backend costs associated with content distribution through our MVPD, vMVPD and digital distributor partners. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> <B><I>Operating
Costs</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> Our primary operating costs relate to
the cost of producing and acquiring our content, the costs of advertising and marketing our service, personnel costs, and distribution
fees. As of December 31, 2020, licensed content represented 2,041 titles and original titles represented 949 titles. Producing
and co-producing content and commissioned content is generally more costly than content acquired through licenses. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> The Company&rsquo;s business model is
subscription based as opposed to a model generating revenues at a specific title level. Content assets (licensed and produced)
are predominantly monetized as a group and therefore are reviewed in aggregate at a group level when an event or change in circumstances
indicates a change in the expected usefulness of the content or that the fair value may be less than unamortized cost. If such
changes are identified, the aggregated content library will be stated at the lower of unamortized cost or fair value. In addition,
unamortized costs for assets that have been, or are expected to be, abandoned are written off. For a discussion of the accounting
policies for content impairment write-down and management estimates involved therein, see &ldquo;<I>&mdash; Critical Accounting
Policies and Estimates</I>&rdquo; below. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT> </P>

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

<!-- Field: Page; Sequence: 42; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Further, our advertising and marketing
expenditures and personnel costs constitute primary operating costs for our business. These costs may fluctuate based on advertising
and marketing objectives and personnel needs. In general, we intend to focus marketing dollars on efficient customer acquisition.
With respect to personnel costs, for the first several years of our existence, we invested heavily in engineering, marketing and
programming staff to build the Company and its service offering. Beginning in 2019, however, we began to focus on sales staff
and other revenue-generating personnel. </P>

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The financial data in the following
table sets forth selected financial information derived from our audited financial statements for the years ended December&nbsp;31,
2020 and 2019 and shows our results of operations as a percentage of revenue or as a percentage of costs, as applicable, for the
periods indicated. We conduct business through one operating segment, CuriosityStream. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: center"> &nbsp; </TD><TD STYLE="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="10" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> Year
    ended December 31, </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center"> &nbsp; </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center"> &nbsp; </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center"> &nbsp; </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: center"> &nbsp; </TD><TD STYLE="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2020 </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2019 </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> $
    Change </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> %
    Change </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: justify"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: justify"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="white-space: nowrap; font-weight: bold; text-align: center"> (in thousands) </TD>
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: justify"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: justify"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: justify"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: justify"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: justify"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: justify"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: justify"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: justify"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: justify"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: justify"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: justify"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: justify"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: justify"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: justify"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: justify"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: justify"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify"> Revenues: </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: justify"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: justify"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: justify"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: justify"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: justify"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: justify"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; text-align: justify; text-indent: -9pt; padding-left: 0.25in"> Subscriptions </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 7%; text-align: right"> 16,508 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 7%; text-align: right"> 42 </TD><TD STYLE="width: 1%; text-align: left"> % </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 7%; text-align: right"> 9,793 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 7%; text-align: right"> 54 </TD><TD STYLE="width: 1%; text-align: left"> % </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 7%; text-align: right"> 6,715 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 7%; text-align: right"> 69 </TD><TD STYLE="width: 1%; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; text-indent: -9pt; padding-left: 0.25in"> License fee </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 22,523 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 57 </TD><TD STYLE="text-align: left"> % </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 8,219 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 46 </TD><TD STYLE="text-align: left"> % </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 14,304 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 174 </TD><TD STYLE="text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 0.25in"> Other </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 590 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 1 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> % </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 14 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 0 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> % </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 576 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">nm</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"> Total Revenues </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 39,621 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 100 </TD><TD STYLE="text-align: left"> % </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 18,026 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 100 </TD><TD STYLE="text-align: left"> % </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 21,595 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 120 </TD><TD STYLE="text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"> Operating expenses: </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; text-indent: -9pt; padding-left: 0.25in"> Cost of revenues </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 15,418 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 20 </TD><TD STYLE="text-align: left"> % </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,810 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 11 </TD><TD STYLE="text-align: left"> % </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 8,608 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 126 </TD><TD STYLE="text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; text-indent: -9pt; padding-left: 0.25in"> Advertising and marketing </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 42,016 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 53 </TD><TD STYLE="text-align: left"> % </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 41,628 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 67 </TD><TD STYLE="text-align: left"> % </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 388 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1 </TD><TD STYLE="text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 0.25in"> General and administrative </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 21,135 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 27 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> % </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 14,035 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 22 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> % </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 7,100 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 51 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt"> Total operating expenses </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 78,569 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 100 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> % </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 62,473 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 100 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> % </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 16,096 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 26 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"> Operating loss </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (38,948 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (44,447 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 5,499 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (12 </TD><TD STYLE="text-align: left"> )% </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"> Other income (expense) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 0.25in"> Interest and other income
    (expenses) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 500 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 2,072 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (1,572 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (76 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> )% </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt"> Loss before income taxes </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (38,448 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (42,375 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 3,927 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (9 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> )% </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 0.25in"> Provision for income taxes </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 179 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 142 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 37 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 26 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 4pt"> Net loss </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> (38,627 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> (42,517 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 3,890 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> (9 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> )% </TD></TR>
</TABLE>


<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> nm &ndash; Percentage not meaningful </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> </P>

<!-- Field: Page; Sequence: 43; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> &nbsp; </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 22.5pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Revenue for the years
ended December&nbsp;31, 2020 and 2019 was $39.6 million and $18 million, respectively. The increase of $21.6&nbsp;million, or 120% is
due to a $6.7 million increase in subscription revenue, a $14.3 million increase in license fee revenue, and $0.6 million increase in
other revenue. The increase in subscription revenue of $6.7 million resulted from a $5.6&nbsp;million increase in subscriber fees received
by us from Direct subscribers for annual plans which resulted from increased brand awareness from greater advertising and marketing spending,
as well as a $1.1 million increase in Corporate &amp; Association Partnership sales. The increase of $14.3 million in license fees resulted
primarily from a $8.4 million increase in revenue from Bundled MVPD partners mainly due to third-party affiliate agreements entered into
during late 2019, and a $0.6 million increase in license fees from Partner Direct Business, in each case as a result of an increase in
the number of users and/or subscribers for our service, as well as a $5.2 million increase in license fees received by us related to
program sales contracts. The increase in other revenue of $0.6 million is due to new sponsorship revenue deals with customers. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"> <B><I>Operating Expenses</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Operating expenses for the years ended
December&nbsp;31, 2020 and 2019 were $78.6 million and $62.5&nbsp;million, respectively. This increase of $16.1&nbsp;million,
or 26%, primarily resulted from the following: </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>&nbsp;</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <I>Cost of
Revenues:</I>&nbsp;Cost of revenues for the year ended December&nbsp;31, 2020 increased to $15.4&nbsp;million from $6.8&nbsp;million
for the year ended December&nbsp;31, 2019. Cost of revenues primarily includes content amortization, hosting and streaming delivery
costs, payment processing costs and distribution fees, commission costs and subtitling and broadcast costs. This increase of
$8.6&nbsp;million, or 126%, is due primarily to the increase in content amortization of $5.8 million, of which $4.0 million is due
to the timing and number of titles published during the year ended December 31, 2020 as compared to the year ended December 31, 2019
and $1.8 million is due to accelerated content amortization related to our program sales contracts during the year ended December
31, 2020 with no comparable amounts in the prior year. The balance of the increase in cost of revenue is due to increases in hosting
and streaming delivery costs (increase of $0.4 million), processing and distribution fees (increase of $0.6 million), commission
costs (increase of $0.4 million), subtitling and broadcast costs (increase of $1.0 million), and other costs (increase of $0.4
million). The increase of cost of revenues is in line with the increase in revenue during the year ended December 31, 2020. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>&nbsp;</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <I>Advertising&nbsp;&amp; Marketing:</I>&nbsp;Advertising
and marketing expenses for the year ended December&nbsp;31, 2020 increased to $42.0 million from $41.6 million for the year ended
December&nbsp;31, 2019. This increase of $0.4&nbsp;million, or 1%, primarily resulted from increased marketing to support subscriber
growth on various social media platforms during the year ended December 31, 2020. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>&nbsp;</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <I>General and
Administrative:</I>&nbsp;General and administrative expenses for the year ended December&nbsp;31, 2020 increased to
$21.1&nbsp;million from $14.0&nbsp;million for the year ended December&nbsp;31, 2019. This increase of $7.1 million, or 51%, was
attributable to $1.4 million for incremental salaries and benefits, $0.5 million for accrued bonuses and $3.6 million for increased
stock-based compensation expense due to higher volume and grant-date fair value of grants made to key executives, as well some
incremental increased head count. This was offset by the recognized benefit from the Paycheck Protection Plan (PPP) Loan of $1.2
million we received in May 2020. In addition, an increase of $1.6 million was primarily attributable to finance and legal
professional fees related to becoming a public company and an increase of $0.4 million was due to additional
insurance incurred necessary for a public company. We expect to incur additional expenses in future periods as we continue to invest
in corporate infrastructure to support public activities of the Company, including adding personnel and systems to our
administrative and revenue-generating&nbsp;functions. </P>

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

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

<!-- Field: Page; Sequence: 44; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <B><I>Operating Loss</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Operating loss for the years ended
December&nbsp;31, 2020 and 2019 was $38.9 million and $44.4 million, respectively. The decrease of $5.5&nbsp;million, or 12%,
in operating loss resulted from the increase in revenue of $21.6&nbsp;million, or 120%, offset by the increase in operating expenses
of $16.1 million, or 26%, in each case during the year ended December&nbsp;31, 2020 as compared to the year ended December&nbsp;31,
2019, as described above. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <B><I>&nbsp;</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <B><I>Interest and other income (expense)</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Interest and other income (expense)
for the year ended December&nbsp;31, 2020 decreased to $0.5 million from $2.1&nbsp;million for the year ended December&nbsp;31,
2019. This decrease of $1.6 million, or 76%, primarily resulted from a decrease in interest income as a result of the average
invested amount decreasing as well as decreasing interest rates during the year ended December 31, 2020 as compared to the year
ended December 31, 2019. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> <B><I>&nbsp;</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <B><I>Provision for Income Taxes</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> Due to generating a loss before income
taxes in each of the years ended December 31, 2020 and 2019, we had a provision for income taxes of $179 thousand and $142 thousand,
respectively. This increase of $37 thousand, or 26%, was primarily due to an increase in foreign withholding tax expense due to
an increase in contracts executed with third parties in foreign jurisdictions. The Company&rsquo;s provision for income taxes
differs from the federal statutory rate primarily due to the Company being in a full valuation allowance position and not recognizing
a benefit for either federal or state income tax purposes. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B></B></FONT></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <B><I>Net Loss</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Net loss for the years
ended December&nbsp;31, 2020 and 2019 was $38.6 million and $42.5 million, respectively. The decrease of $3.9 million, or 9%, resulted
primarily from the increase in revenue, offset by a smaller increase in operating expenses and a decrease in interest and other income
(expense), in each case during the year ended December&nbsp;31, 2020 as compared to the year ended December&nbsp;31, 2019, as described
above. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"> <B>&nbsp;</B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> As of December 31, 2020, we had cash
and cash equivalents, including restricted cash, of $17.4 million. For the year ended December 31, 2020, we incurred a net loss
of $38.6 million and used $52.9 million of net cash in operating activities, while investing activities provided $25.5 million
of net cash and financing activities provided $36.0 million of net cash. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> During the year ended December 31,
2019 and through the date of the Merger, we have financed our operations primarily from the net proceeds of our sale of Series
A Preferred Stock in November and December 2018. An additional source of liquidity includes borrowings under our Line of Credit
Facility with a bank (the &ldquo;Line of Credit&rdquo;). This Line of Credit provides for borrowings of up to $4.5 million with
interest-only monthly payments at a rate equal to the LIBOR Daily Floating Rate plus 2.25%. The Line of Credit carries an unused
fee of 0.25% annually on all committed but unused capital, payable quarterly in arrears. The entire unpaid principal balance is
due when the Line of Credit matures on February 28, 2022, following the execution of a one year extension during February 2021.
The Line of Credit is collateralized by cash of $4.5 million that is held in restricted cash in current assets on the consolidated
balance sheet. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In connection with the Business Combination,
we received net cash proceeds of approximately $41.5 million, prior to the payment of $5.7 million of offering costs. On February
8, 2021, we consummated the Offering. The net proceeds to us from the Offering were $94.1 million, after deducting underwriting
discounts and commissions and offering expenses payable by us in connection with the Offering. During the months of January and
February 2021, we received funds of approximately $55 million for the exercise of 4.8 million Warrants. There were no Warrants
exercised in March 2021. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> We believe that our cash flows from
financing, combined with our current cash levels and available borrowing capacity, will be adequate to support our ongoing operations,
capital expenditures and working capital for at least the next twelve months, as evidenced by our cash flows from financing activities
and subsequent cash balances in 2021. We believe that we have access to additional funds, if needed, through the capital markets
to obtain further financing under the current market conditions. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Our principal uses of cash are to acquire
content, promote our service through advertising and marketing, and provide for working capital to operate our business. We have
experienced significant net losses since our inception and, given the significant operating and capital expenditures associated
with our business plan, we anticipate that we will continue to incur net losses. </P>

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

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

<!-- Field: Page; Sequence: 45; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Cash
Flows</I></B></FONT> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The following table presents our cash
flows from operating, investing and financing activities for the years ended December 31, 2020 and December 31, 2019: </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Year ended <BR>
December 31, </TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> 2020 </TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> 2019 </TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center"> (in thousands) </TD><TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: justify"> Net cash used in operating activities </TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> (52,914 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> (44,711 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"> Net cash provided by (used in) investing activities </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 25,455 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (8,986 </TD><TD STYLE="text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt"> Net cash provided by financing activities </TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 36,024 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 4pt"> Net increase (decrease) in cash, cash equivalents and restricted cash </TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 8,565 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> (53,697 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> ) </TD></TR>
</TABLE>


<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>&nbsp;</I></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <I>Cash Flow from Operating Activities</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Cash flow from operating activities
primarily consists of net losses, changes to our content assets (including acquisitions and amortization), and other working capital
items. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> During the years ended December&nbsp;31,
2020 and 2019, we recorded a net cash outflow from operating activities of $52.9 million and $44.7&nbsp;million, respectively,
or an increased outflow of $8.2&nbsp;million, or 18%. The increase in cash outflows from operating activities was attributable
to an increase of $12.3 million in our content investment (additions to content assets and change in content liabilities) from
$14.9 million during the year ended December 31, 2019 to $27.2 million during the year ended December 31, 2020. The increase in
cash outflows is also due to an increase in the change in our accounts receivable of $0.5 million during the year ended December
31, 2019 as compared to $5.4 million during the year ended December 31, 2020 due primarily to increased receivables from the program
sales contracts. In addition, the increase in cash outflows is due to a reduction in accounts payable of $1.5 million during the
year ended December 31, 2020 as compared to an increase in accounts payable of $2.4 million during the year ended December 31,
2019, which was primarily due to increased digital marketing investment. These increases were partially offset by a decrease in
our net loss minus our content amortization and stock-based compensation, from $37.7 million during the year ended December 31,
2019 to $24.3 million during the year ended December 31, 2020. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> <I>&nbsp;</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <I>Cash Flow Provided by (Used in)
Investing Activities</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Cash flow provided by (used in) investing
activities consists of purchases, sales and maturities of investments and purchases of property and equipment. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> During the years ended December&nbsp;31,
2020 and 2019, we recorded a net cash inflow from investing activities of $25.5 million and net cash outflow from investing activities
of ($9.0)&nbsp;million, respectively, or an increased inflow of $34.5&nbsp;million. The significant increase in cash inflow from
investing activities was primarily attributable to less purchases and higher sales and maturities of investments. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> <I>&nbsp;</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <I>Cash Flow from Financing Activities</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> During the year ended
December&nbsp;31, 2020, we recorded a net cash inflow provided by financing activities of $36.0 million, which was mainly attributable
to proceeds from the Business Combination of $41.5 offset by the offering costs of $5.7 million related to the Business Combination.
There were no similar financing cash activities during the year ended December 31, 2019. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> <B>&nbsp;</B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Going forward, we expect to make expenditures
for additions to our content assets, and purchases of property and equipment. The amount, timing and allocation of capital expenditures
are largely discretionary and within management&rsquo;s control. Depending on market conditions, we may choose to defer a portion
of our budgeted expenditures until later periods to achieve the desired balance between sources and uses of liquidity and prioritize
capital projects that we believe have the highest expected returns and potential to generate cash flow. Subject to financing alternatives,
we may also increase our capital expenditures significantly to take advantage of opportunities we consider to be attractive. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

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

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

<!-- Field: Page; Sequence: 46; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> As of December 31, 2020, we had no
off-balance sheet arrangements. </P>

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our discussion and analysis
of our financial condition and results of operation is based upon our financial statements, which have been prepared in accordance with
U.S. GAAP. Certain amounts included in or affecting the financial statements presented in this registration statement and related disclosure
must be estimated, requiring management to make assumptions with respect to values or conditions which cannot be known with certainty
at the time the financial statements are prepared. Management believes that the accounting policies set forth below comprise the most
important &ldquo;critical accounting policies&rdquo; for the Company. A critical accounting policy is one which is both important to
the portrayal of a company&rsquo;s financial condition and results of operations and requires management&rsquo;s most difficult, subjective
or complex judgments, often as a result of the need to make estimates about the effect of matters that are inherently uncertain. Management
evaluates such policies on an ongoing basis, based upon historical results and experience, consultation with experts and other methods
that management considers reasonable in the particular circumstances under which the judgments and estimates are made, as well as management&rsquo;s
forecasts as to the manner in which such circumstances may change in the future. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"> <B>&nbsp;</B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company acquires, licenses and
produces content, including original programming, in order to offer members unlimited viewing of factual entertainment content.
The content licenses are for a fixed fee and specific windows of availability. Payments for content, including additions to content
library and the changes in related liabilities, are classified within &ldquo;Net cash used in operating activities&rdquo; on the
consolidated statements of cash flows. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The Company recognizes
its content library (licensed and produced) as &ldquo;Content assets, net&rdquo; on the consolidated balance sheets. For licenses, the
Company capitalizes the fee per title and records a corresponding liability at the gross amount of the liability when the license period
begins, the cost of the title is known, and the title is accepted and available for streaming. For productions, the Company capitalizes
costs associated with the production, including development costs, direct costs and production overhead. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Based on factors including historical
and estimated viewing patterns, the Company generally amortizes the content library (licensed and produced) in &ldquo;Cost of
revenues&rdquo; on the consolidated statements of operations on a straight-line basis over the shorter of each title&rsquo;s contractual
window of availability or estimated period of use, beginning with the month of first availability. The Company reviews factors
impacting the amortization of the content library on an ongoing basis and will record amortization on an accelerated basis when
there is more upfront use of a title, for instance due to significant program sales. </P>

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> <B><I>&nbsp;</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <B><I>Subscriptions&nbsp;&mdash; O&amp;O
Service</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company generates revenue from
monthly subscription fees from its O&amp;O Service. CuriosityStream subscribers enter into non-refundable, month-to-month or annual
subscriptions with the Company. The Company bills the monthly subscriber on each subscriber&rsquo;s monthly anniversary date and
recognizes the revenue ratably over each monthly membership period. The annual subscription fees are collected by the Company
at the start of the annual subscription period and are recognized ratably over the subsequent twelve-month period. Revenues are
presented net of the taxes that are collected from subscribers and remitted to governmental authorities. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> <B><I>&nbsp;</I></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company also earns subscription
revenues through its App Services. These subscriptions are similar to the O&amp;O Service subscriptions, but these subscriptions
are generated based on agreements with certain streaming media players as well as with Smart TV brands and gaming consoles. Under
these agreements, the streaming media player typically bills the subscriber directly and then remits the collected subscriptions
to the Company, net of a distribution fee. The Company recognizes the gross subscription revenues when earned and simultaneously
recognizes the corresponding distribution fees as an expense. The Company is the principal in these relationships as the Company
retains control over service delivery to its subscribers. </P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I></I></B></FONT></P>

<!-- Field: Page; Sequence: 47; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> <B><I>Licensing&nbsp;&mdash; Affiliates</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> The Company generates
license fee revenues from MVPDs such as Altice, Comcast and Cox as well as from vMVPDs such as Amazon and Sling TV (MVPDs and
vMVPDs are also referred to as affiliates). Under the terms of the agreements with these affiliates, the Company receives license
fees based upon contracted programming rates and subscriber levels reported by the affiliates. In exchange, the Company licenses
its content to the affiliates for distribution to their subscribers. The Company earns revenue under these agreements either based
on the total number of subscribers multiplied by rates specified in the agreements or based on fixed fee arrangements. These revenues
are recognized over the term of each agreement when earned. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 24pt"> <B><I>&nbsp;</I></B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 24pt"> <B><I>Licensing&nbsp;&mdash;
Program Sales</I></B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The Company has distribution
agreements which grant a licensee limited distribution rights to the Company&rsquo;s programs for varying terms, generally in
exchange for a fixed license fee. Revenue is recognized once the content is made available for the licensee to use. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The Company&rsquo;s
performance obligations include (1)&nbsp;access to its SVoD platform via the Company&rsquo;s O&amp;O Service and App Services,
(2)&nbsp;access to the Company&rsquo;s content assets, and (3)&nbsp;licenses of specific program titles. In contracts containing
the right to access the Company SVoD platform, the performance obligation is satisfied as access to the SVoD platform is provided
post any free trial period. In contracts which contain access to the Company&rsquo;s content assets, the performance obligation
is satisfied as access to the content is provided. For contracts with licenses of specific program titles, the performance obligation
is satisfied as that content is made available for the customer to use. </P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In February&nbsp;2016,
the FASB issued ASU 2016-02, <I>Leases (Topic 842)</I>, which requires lessees to recognize lease assets and lease liabilities
on the balance sheet for those leases classified as operating leases under current U.S. GAAP. ASU 2016-02 requires that a lessee
should recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use
the underlying asset for the lease term on the balance sheet. The new guidance also requires qualitative and quantitative disclosures
related to the nature, timing and uncertainty of cash flows arising from leases. The guidance is effective for the Company&rsquo;s
fiscal year beginning January 1, 2022, with early adoption permitted, and is required to be implemented using a modified retrospective
approach. The Company is currently assessing the impact of the new standard on its financial statements, but anticipates a material
increase in assets and liabilities due to the recognition of the required right-of-use asset and corresponding lease liability
for all lease obligations that are currently classified as operating leases, such as real estate leases for corporate headquarters,
as well as additional disclosure on all its lease obligations. The income statement recognition of lease expense is not expected
to significantly change from the current methodology. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In June&nbsp;2016,
the FASB issued ASU 2016-13, <I>Financial Instruments&nbsp;&mdash;&nbsp;Credit Losses (Topic 326)</I>, which requires that an
entity measure and recognize expected credit losses for financial assets held at amortized cost and replaces the incurred loss
impairment methodology in current U.S. GAAP with a methodology that requires consideration of a broader range of information to
estimate credit losses. The guidance also modifies the impairment model for available-for-sale debt securities. ASU 2016-13 is
effective for the Company&rsquo;s fiscal year beginning January 1, 2023. The Company is continuing to assess the potential impacts
of ASU 2016-13 on its financial statements. </P>

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

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

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

<!-- Field: Page; Sequence: 48; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_013"></A><B>BUSINESS</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">SAQN, a blank check
company, was incorporated as a Delaware corporation on May 9, 2019. SAQN was formed for the purpose of effecting a merger, capital
stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
Until the consummation of the Business Combination, SAQN did not engage in any operations nor generate any revenue.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In June&nbsp;2019, the
Sponsor purchased an aggregate of 3,593,750 shares (the &ldquo;Founder Shares&rdquo;) for an aggregate purchase price of $25,000, or
approximately $0.007 per share. In November&nbsp;2019, SAQN effected a stock dividend for 0.04 share for each Founder Share outstanding,
resulting in the Sponsor holding an aggregate of 3,737,500 Founder Shares. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">On November 22, 2019,
SAQN consummated its IPO of 14,950,000 Units, which included the full exercise by the underwriter of the over-allotment option
to purchase an additional 1,950,000 Units. Each Unit consisted of one share of Common Stock and one-half of one Warrant. Each whole
Warrant entitled the holder thereof to purchase one share of Common Stock at a price of $11.50 per share, subject to certain adjustments.
The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds, before expenses, of $149,500,000.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> On October 14, 2020,
we consummated the Business Combination. Following the Business Combination, Legacy CuriosityStream became our direct subsidiary. and
we changed our name from Software Acquisition Group Inc. to CuriosityStream Inc. </P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Created by John Hendricks, founder of
the Discovery Channel and former Chairman of Discovery Communications, we are a media and entertainment company that offers premium
video programming across the principal categories of factual entertainment, including science, history, society, nature, lifestyle
and technology. Our mission is to provide premium factual entertainment that informs, enchants and inspires. We are seeking to
meet demand for high-quality factual entertainment via SVoD platforms, as well as via bundled content licenses for SVoD and linear
offerings, partner bulk sales, brand partnerships and content sales. We are well-positioned for growth as a digital-native video
platform monetizing content across this broad revenue stack. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Through the rapid expansion of our library
of high-quality titles and by exploiting multiple channels to monetize our programming, we believe that we have achieved global
leadership in factual content streaming and are well positioned to capitalize on favorable ongoing industry trends to create value
for our shareholders and other stakeholders. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our award-winning content library features
more than 3,100 nonfiction episodes, including more than 1,000 original, commissioned or co-produced documentaries, of short-form,
mid-form and long-form duration, with an estimated $1 billion original production value. Our films are produced, co-produced or
commissioned by us, or licensed through one of our content partnerships, such as with NHK in Japan, ZED in France and Terra Mater
in Austria. Our programs are hosted by and feature scientists, experts and celebrities such as Stephen Hawking, Sir David Attenborough
and Sigourney Weaver. Our programs have already received three Emmy nominations, including an Emmy Award win for Stephen Hawking&rsquo;s
Favorite Places. Every title on our platform is available on-demand and, other than historical footage or classic documentaries,
in high definition or 4K quality. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our content, approximately one-third
of which is originally produced with the remaining two-thirds consisting of licensed programming<FONT STYLE="font-family: Times New Roman, Times, Serif">,
is available directly through our O&amp;O Service and App Services. Our App Services enable access to CuriosityStream on almost
every major consumer device, including streaming media players like Roku, Apple TV and Amazon Fire TV, all major smart TV brands
(e.g., LG, Vizio, Samsung, Sony) and gaming consoles like Xbox. In addition, we have affiliate agreement relationships with, and
our service is available directly from, MVPDs that include Comcast, Cox, Dish and NCTC and vMVPDs and digital distributors that
include Amazon Prime Video Channels, Roku Channels, Sling TV and YouTube TV, which we refer to as our &ldquo;Partner Direct Service&rdquo;
or &ldquo;Partner Direct Business.&rdquo;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our Direct Service is available in more
than 175 countries to any household with a broadband connection for $2.99 per month or $19.99 per year for high definition resolution.
We also provide a premium service in 4K resolution for $9.99 per month or $69.99 per year. Over 75% of Direct Service subscribers
select annual subscription plans, which has reduced subscriber churn and facilitates our ability to learn and serve consumer preferences.
The MVPD, vMVPD and digital distributor partners making up our Partner Direct Business pay us a license fee for
sales to individuals who subscribe to CuriosityStream via the partners&rsquo; respective platforms. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The technology associated with our Direct
Business is designed to facilitate a consistent user experience across the different interface platforms and operating system
applications. We provide value for both our users and ourselves through our analytics algorithm and data collection system. Leveraging
our database of anonymized user preferences, ratings and behavior, we are constantly refining our content recommendation engine
to suggest and serve content to our customers. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 49; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In addition to our Partner Direct Services
and Businesses, we have affiliate relationships with our Bundled MVPD Partners&nbsp;&mdash;&nbsp;MVPDs, broadband and wireless
companies in the US and international territories to whom we can offer a broad scope of rights, including 24/7 &ldquo;linear&rdquo;
channels, our on-demand content library, mobile rights and pricing and packaging flexibility, in exchange for an annual fixed
fee or fee per subscriber as part of a multi-year agreement. This Bundled MVPD Business offers us the advantages of long-cycle
and recurring revenue and the potential to access hundreds of millions of paying subscribers globally. As a young and digital-native
company, we are not laden with some of the overhead costs nor over-dependent on lines of business that may hamper the growth of
legacy media companies. We are consequently able to offer Bundled MVPD Partners more attractive rates than well-known conglomerates,
meeting the Bundled MVPD Partners&rsquo; need to cut costs in their business without losing quantity or quality of factual content. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our Corporate&nbsp;&amp; Association
Partnership business has been comprised primarily of selling subscriptions in bulk to companies and organizations that in turn
offer these subscriptions to their employees and members as an employment benefit or &ldquo;gift of curiosity.&rdquo; As a family-friendly
and enriching service, we are well-positioned among media companies to continue to build our roster of customers in this model.
We see an even bigger opportunity with corporations and associations, however, via multi-year integrated partnerships where we
create and distribute content in support of these partners&rsquo; CSR and membership initiatives. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our Sponsorships&nbsp;&amp; Advertising
business consists of developing integrated digital brand partnerships, designed to offer blue chip brands the chance to be associated
with CuriosityStream content in a variety of forms, including short and long form program integration, branded social media promotional
videos, broadcast advertising spots, and digital display ads. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> Our Program Sales Business is focused
on providing factual content to entertainment media companies. We have the opportunity to provide a turnkey, financially attractive
&ldquo;factual solution&rdquo; to meet this business demand. We are able to sell to certain media companies a collection of our
existing titles in a traditional program sales deal and are party to a multi-year, multi-million dollar program sales agreement
with one such media company. We are also able to sell selected rights (such as in territories or on platforms that are lower priority
for us) to content we create before we even begin production. This latter model reduces risk in our content development decisions
and creates program sales revenue. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> The most basic functional structure of
our company thrives due to the collaboration of (1)&nbsp;our content team, which works with more than 150 production companies
and distributors across the world to create and acquire programming, (2)&nbsp;our legal and finance teams, which structure and
formalize agreements, (3)&nbsp;our creative services and content operations teams, which develop all of the marketing materials,
metadata and other assets associated with a piece of content, and (4)&nbsp;our content operations and technology teams, which
then deliver our content and services to all manner of devices and streaming platforms for our Direct, Partner Direct, Bundled
MVPD and other&nbsp;businesses. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> Our revenue for the year ended December
31, 2020 was $39.6 million. Our net loss for the year ended December 31, 2020 was $38.6 million. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Our Competitive Strengths</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: 24pt"> We believe our business is driven by
the following competitive strengths: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>We have multiple revenue streams to
support our future growth</I>.&nbsp;Each of CuriosityStream&rsquo;s five distinct, complementary and growing
lines of revenue monetizing content (Direct and Partner Direct, Bundled MVPD, Corporate &amp; Association Partnerships, Sponsorship&nbsp;&amp;
Advertising, and Program Sales) has the potential to become a large business in and of itself. Their existence in a diversified
revenue stack increases the benefits of each by de-risking investment in content and overhead, protects against periodic turns
in any one area, and enables us to be nimble in exploiting unexpected opportunities through the reach of relationships and partnerships
throughout media and around the world. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>We are pioneers of fact-based entertainment
in the high-growth SVoD market</I>.&nbsp;Digital TV Research predicts that global SVoD subscribers will reach
approximately 1.2 billion by 2025, an increase of 529 million from the number of subscribers recorded as of the end of 2019. As
a &ldquo;digital native&rdquo; business, where our initial focus was SVoD, legacy revenue streams are not a drag or barrier to
avenues of growth. In addition, unlike Netflix, Amazon Prime and Hulu, which focus primarily on developing and acquiring fictional
entertainment, we are well-positioned to be the most flexible provider of on-demand, premium factual entertainment in the SVoD
space. Moreover, where most basic ad-supported cable networks have neglected the production of high-quality factual content in
favor of reality television programs, we have a pipeline dedicated exclusively to fact-based entertainment. We believe our focus
on quality and our ability to curate this type of content has produced a documentary library that is superior to and more accessible
for consumers than that of potential competitors who are not exclusively focused on this category. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>Our management team, with decades
of individual and collective experience, has learned how to efficiently create and monetize factual content.</I>&nbsp;We
were founded by industry pioneer, John Hendricks, the founder and former Chairman of Discovery Communications, who launched Discovery
Channel in 1985 and expanded that company to more than 220 countries and 2.5 billion cumulative subscribers across channels, generating
$5.5 billion in annual revenue by the time he stepped down in 2014. John selected Clint Stinchcomb, a media executive with more
than 25&nbsp;years&rsquo; experience launching networks and developing and monetizing content&nbsp;&mdash; including as the key
executive who launched Discovery&rsquo;s digital networks&nbsp;&mdash; to serve as CuriosityStream&rsquo;s Chief Executive Officer.
John and Clint have in turn built a seasoned team, including a Chief Financial Officer, Chief Operating Officer&nbsp;&amp; General
Counsel, Chief Product Officer, and Chief Revenue Officer, who reflect broad and deep experience across traditional as well as
new generation media companies across all functional areas. We believe that our executives&rsquo; collective knowledge of the
industry, key industry relationships, strategic vision and access to the best content creators and distributors, provides us with
key competitive advantages. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> </P>

<!-- Field: Page; Sequence: 50; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>The broad, universal appeal of factual
content provides strategic advantages</I>.&nbsp;We believe the subject matter of factual content generally has
a longer shelf-life than fictional genres. We believe factual content transcends geographical boundaries and can be understood
and enjoyed across cultures and languages. In addition, from an operational perspective, as compared to scripted content, nonfiction
programming generally has a lower production cost and lends itself more easily to localization techniques such as subtitling,
dubbing and voiceover. Our content library covers all major categories of factual entertainment&nbsp;&mdash;&nbsp;science, history,
technology, nature, society and lifestyle. Factual entertainment is also consumed by a broad age demographic and can be shared
across generations. Our active O&amp;O users are comprised of approximately 60% male viewers and 40% female viewers. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>We have a potential distribution reach
of hundreds of millions of households via 30+ distribution partners and are platform and delivery-method agnostic</I>.&nbsp;We
are available worldwide through our SVoD O&amp;O Service, App Services and distribution affiliates. Viewers can access our online
platform directly on smart TVs and mobile devices. Additionally, we are available through traditional MVPDs such as Altice in
the United&nbsp;States, Multichoice across Africa, and StarHub in Singapore, reaching viewers through both SVoD and linear distribution
channels. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>Our technology platform enables personalization
and discovery</I>.&nbsp;We are developing a large and diversified data set which provides us with significant
insight into content consumption and user behavior. This ever-evolving data set allows us to analyze, understand and track watching
habits and trends in content viewership. From this data, we are able to make data-driven strategic decisions on content production
and recommendations to viewers. Leveraging our database of anonymized user preferences, ratings and behavior, we have designed
a content recommendation engine that suggests content using behavioral analytics and similar watch histories from other users.
Similarly, we are also able to use viewer preferences and usage trends to inform content licensing and acquisition choices. We
believe this technology will help drive user engagement and contribute to growth. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp;&nbsp; </P>

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> We believe we are strategically positioned
to grow our revenues through expanding our subscriber base and broadening our business customer network by: </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>Continually enhancing and marketing
our platform and refining our pricing strategy in order to attract and retain users and increase high-value users and thereby
expand our subscriber base and increase average revenue per user.</I>&nbsp;We intend to increase growth of our
O&amp;O platform by continuously improving our user experience, increasing the depth and breadth of our content offering, and
enhancing our streaming platform. We plan to continue to attract users and expand our subscriber base with a compelling streaming
value proposition that allows users to access the largest collection of nonfiction programming through user-friendly search and
discovery tools and a simple user interface, while continuously monitoring and optimizing subscriber acquisition costs. As of
September 30, 2020, our customer acquisition cost was approximately $51 per subscriber. We also plan to add additional value to
our premium tiers, add lifetime SKUs and raise annual standard plan rates to increase overall ARPU. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>Developing more original landmark
content</I>.&nbsp;We intend to create new content and partner with leading content production houses to continue
to improve and broaden our library of factual entertainment content. We are poised to produce additional landmark original programming,
following our Emmy award-winning commission Steven Hawking&rsquo;s Favorite Places and our Emmy and BAFTA-nominated co-production
of David Attenborough&rsquo;s Light on Earth. For example, we premiered mid-form biographies featuring interviews by Leonardo
DiCaprio in late 2020 and will premiere a sweeping natural history series from the renowned factual producer Terra Mater in 2021
and 2022. We leverage our growing database of viewership data to help determine engaging content topics and maximize production
value in our content pipeline. We believe premium original and exclusive content garners critical acclaim and press, and attracts
and retains subscribers. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>Expanding bundled distribution, especially
in international and wireless markets</I>.&nbsp;Global markets constitute a significant growth avenue for us.
Currently, about 70% of our O&amp;O subscribers are based in the United&nbsp;States. Our content has only begun to be localized
(subtitling or dubbing in four languages for the parts of our library where rights are available) and there has been limited marketing
outside the United&nbsp;States to date. We intend to continue to seek partnerships with strong platforms in international territories.
For example, using our StarHub deal in Singapore as a model for other countries, especially in Asia, we are seeking bundling opportunities
for license fees on a per subscriber basis. In addition, based on our experience with StarHub and Multichoice in Africa, we believe
we are well-positioned to exploit opportunities where legacy linear channel providers face renewal, providing a lower cost, higher
quality alternative to these distribution partners. We also plan to seek partnerships with device makers where they have market
share or advantages in a given territory. Expansion into international markets is expected to be a critical driver of subscriber
growth. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>Launching Brand Partnerships Business</I>.&nbsp;The
Sponsorships&nbsp;&amp; Advertising Business constitutes another area of growth for us. Building on this advertising business
with more complex integrated brand campaigns will enable us to leverage our distribution and marketing channels to amplify our
partners&rsquo; messages and increase their reach, which in turn will create a more valuable Sponsorship&nbsp;&amp; Advertising
Business for us. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>Developing Program Sales Business</I>.&nbsp;CuriosityStream
has already done one program sales deal in providing factual content for the launch of a major SVoD program service in the United&nbsp;States.
This deal provided a template for our offering a &ldquo;factual solution&rdquo; to meet the needs of a business partner. We are
also executing on a line of business to sell selected rights to content we create in advance of production, thus reducing risk
in our content development decisions while delivering revenue. We currently have approximately 15 projects&nbsp;&mdash; series
and feature documentaries&nbsp;&mdash; in production for this channel. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 51; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>Building Corporate &amp; Association
Partnerships Business</I>.&nbsp;Our Corporate &amp; Association Partnerships business has been successful in
selling subscriptions in bulk to companies, organizations, schools, universities and libraries. We are now poised to exploit a
bigger opportunity with organizations, corporations and associations through multi-year multi-faceted partnerships where we create
and distribute content in support of these partners&rsquo; CSR and membership initiatives. Corporations and organizations often
have existing content with no distribution channel and they often have need for new content to serve their mission. We can offer
a turnkey solution or a menu of choices, such as content creation or co-production, access for a partner&rsquo;s members to selected
content via our platform, or even a customized co-branded streaming platform. Our mission and style of content is relatively well-suited
among media companies to capitalize on the opportunity with corporations, organizations and associations. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> The adoption of television and video
streaming has disrupted the traditional linear television distribution industry, creating new options for consumers and new economic
opportunities for content publishers and advertisers. Many consumers are shifting to SVoD platforms. According to Digital TV Research,
SVoD subscriptions in the United&nbsp;States alone are predicted to climb to 317 million by 2025 from 203 million in 2019. Although
traditional live television still represents the majority of hours viewed by consumers, the launch of vMVPD services by traditional
television operators has increased cord-cutting by consumers. eMarketer predicts that by 2021, more than a fifth of U.S. households
will cut the cord from traditional TV. By 2022, that number is expected to reach almost 25%. The number of traditional pay television
subscribers continues to decline as consumers increasingly favor a streaming experience. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> We believe these consumer and market
trends are creating significant tailwinds for the digital content streaming market and actionable opportunities for a company
with our diversified revenue model: </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>Favorable and shifting consumer behavior
trends</I>.&nbsp;Today&rsquo;s consumer values the ability to watch what they want, when they want, on the device
of their choosing. There is demand for premium-quality content, as opposed to low-quality and low-cost content that we believe
is often characteristic of ad-driven cable television today. Consumers desire both short-form (&lt;15 minutes) and long-form (&gt;15
minutes) content. Consumers increasingly prefer content without commercial interruption and have demonstrated a willingness to
pay for this convenience, as evidenced by Amazon Prime Video, HBO Max, Disney+ and Netflix subscriptions. Cable and satellite
distributors have traditionally offered consumers bundled pricing packages, but many now perceive these bundled packages as excessive
following the growing availability of premium-quality content by SVoD services. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>The reach of and demand for SVoD services
are increasing through improved accessibility and strengthening networks worldwide</I>.&nbsp;With more than
half the world&rsquo;s population now connected to the internet and nearly one billion global smartphone users with streaming
capabilities, the SVoD market is still young and poised for tremendous growth. In 2019, 4G for the first time accounted for more
than 50% of mobile connections globally. This strengthening distribution network offers us the opportunity to tap into a broadening
base of global streaming consumers through multi-year partnerships with network operators. The rollout of 5G could offer new mobile
and interactive content experiences and thereby present increased opportunity for us. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>SVoD customer growth is accelerating</I>.&nbsp;Leading
streaming platforms and media conglomerates have increased their original content spend to help drive consumers to their services.
According to analysis from Variety Intelligence Platform, media companies spent nearly $121 billion on original content in 2019,
largely driven by SVoD providers such as Amazon, Netflix and Disney Plus. Meanwhile, there has been significant publicity of Emmy
Awards and other accolades of SVoD providers. As noted by Fast Company citing Rich Greenfield, 86 percent of 2020 Emmy- nominated
shows did not require a cable or satellite subscription to watch. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>Fortune 500 Corporations have significant
CSR initiatives and Professional and Trade Associations actively seek strategic partnerships to deliver on their mandates and
grow their membership rolls</I>.&nbsp;According to Harvard Business Review (January 2018), Fortune Global 500
firms spend approximately $20 billion annually on CSR activities, up significantly from historical levels. These CSR initiatives
produce social and economic benefits, as well as serve to attract and motivate employees. Our content can be supplemented, and
our platform can be leveraged to serve these CSR objectives. Similarly, some of the nearly 63,000 trade and professional associations
in the United States are likely to seek the expertise of a media company to help create and distribute content in the service
of their missions and membership. We believe these factors will continue to drive demand for business to business relationships
to produce, supplement and reach members with worthwhile content. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> </P>

<!-- Field: Page; Sequence: 52; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> <I>Companies will spend advertising and
marketing dollars in content partnerships with platforms which can integrate and amplify their messaging</I>.&nbsp;According
to branded content distribution platform Polar, the global spend on branded content in 2020 was expected to top $13 billion. With
the rapid rise in consumer preference towards streaming content, brands are rapidly shifting their advertising budgets towards
video platforms. According to eMarketer, more than $8 billion was predicted to be spent on connected TV platforms alone in 2020.
This creates an opportunity to leverage impressions earned across these desirable platforms and aggregate them with other assets
to create valuable integrated sponsorship and advertising partnerships with leading brands. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> <I>Corporate History&nbsp;&amp; Structure</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> CuriosityStream LLC, Legacy CuriosityStream&rsquo;s
predecessor, was formed in the State of Delaware by John Hendricks, founder of the Discovery Channel and former chairman of Discovery
Communications, in June&nbsp;2008. CuriosityStream officially launched its subscription service to U.S. based customers in March&nbsp;2015
and to international customers in September&nbsp;2015. In October&nbsp;2018, Legacy CuriosityStream completed a statutory corporate
conversion pursuant to which CuriosityStream LLC was converted into a Delaware corporation and renamed CuriosityStream Inc. (our
&ldquo;corporate reorganization&rdquo;). In connection with the corporate reorganization, each membership interest of CuriosityStream
LLC was converted into shares of common stock of CuriosityStream&nbsp;Inc. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> In November&nbsp;2018, Legacy CuriosityStream
completed a private placement of 14,557,000 shares of our Series A Convertible Preferred Stock. Immediately prior to the Merger,
the issued and outstanding shares of Series A Convertible Preferred Stock automatically converted into an aggregate of approximately
17.6 million shares of Legacy CuriosityStream common stock pursuant to its terms. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> <I>Competition</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> We compete for the time and attention
of our users across different forms of media, including traditional broadcast, cable, satellite and internet-delivered video,
other providers of SVoD services (Amazon Prime Video, Hulu, Netflix), other providers of in-home and mobile entertainment such
as radio, music streaming services, and social media and networking websites. Many consumers maintain simultaneous relationships
with multiple in-home entertainment providers and can easily shift spending from one provider to another. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> We compete to attract, engage, and retain
users with other content providers based on a number of factors, including the user experience, content range and quality, ease
of use of our platform, price, accessibility, perceptions of advertising load, brand awareness and reputation. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> Many of our competitors enjoy competitive
advantages such as greater brand recognition, legacy operating histories and larger marketing and content budgets, as well as
greater financial, technical, human and other resources. However, we currently face limited competition in the factual SVoD category. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> <I>Intellectual Property</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> Our success depends upon our ability
to protect our technologies and intellectual property. To accomplish this, we rely on a combination of intellectual property rights,
including trade secrets, copyrights and trademarks, as well as contractual restrictions. We have confidentiality and proprietary
rights arrangements with our employees, consultants and business partners, and we control access to, and distribution of, our
proprietary information. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> Our registered trademarks in the United&nbsp;States
include &ldquo;Curiosity&rdquo; and &ldquo;CuriosityStream.&rdquo; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> We are the registrant of the internet
domain name for our website, <I>www.curiositystream.com</I>, as well as others. We own rights to proprietary processes and trade
secrets, including those underlying the CuriosityStream service. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> In addition to the foregoing protections,
we generally control access to, and use of, our proprietary software and other confidential information through the use of internal
and external controls, including contractual protections with contractors, customers and partners. Our employees sign acknowledgements
of our policies with respect to confidentiality and proprietary rights. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> </P>

<!-- Field: Page; Sequence: 53; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> <I>Government Regulation</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> As a company conducting business on the
internet, we are subject to a number of foreign and domestic laws and regulations relating to information and network security,
data protection, privacy, and governmental access to data, among other things. Many of these laws and regulations are still evolving
and could be interpreted, updated, or new laws passed in ways that could harm our business. In the area of information and network
security and data protection, the laws in the United&nbsp;States, EU, and other jurisdictions globally can require specified actions
to maintain the confidentiality, integrity and availability of networks and data. Notwithstanding any activities to secure networks
and data, security for networks and data cannot be guaranteed. Cyber incidents can and do happen. Additionally, laws in many U.S.
states require companies to implement specific information security controls to protect certain types of personally identifiable
information. Credit card networks may also require us to employ certain security and privacy controls, and failure to comply with
these obligations may lead to significant liabilities. Likewise, U.S. states, the EU, China, and other jurisdictions have laws
in place requiring companies to notify users, regulators, and sometimes law enforcement if there is a security breach that compromises
certain categories of information, including personal information and personally identifiable information. Any failure on our
part to comply with these laws, obligations, or regulations may subject us to significant liabilities. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> We may also be subject to U.S. federal
and state, EU and other foreign laws regarding privacy, the collection of the data of minors, and the privacy of customer data.
Our privacy policy and terms of use describe our practices concerning the use, transmission and disclosure of customer information
and are posted on our website. Any failure to comply with our posted privacy policy or privacy-related laws, obligations, or regulations
globally could result in proceedings against us by governmental authorities, individuals, or others, which could harm our business.
Further, any failure by us to adequately protect the privacy or security of our customers&rsquo; information could result in a
loss of confidence in our service among existing and potential customers, and ultimately, in a loss of customers and advertisers,
which could adversely affect our business. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> <I>Privacy Policy</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> We collect and use certain types of information
from our customers in accordance with the privacy policy that is posted on our website. We collect personally identifiable information
directly from customers when they register to use our service and sign up to receive email newsletters. We may also obtain information
about our customers from other customers and third parties. Our policy is to use the collected information to customize and personalize
advertising and content for customers and to enhance the customer experience when using our service. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> We also use automated data collection
technology, such as tracking cookies, to collect non-personally identifiable information in order to help us track customer interactions
with our service. Third-party advertisers and service partners may also use tracking technologies in order to collect non-personally
identifiable information regarding use of our platforms. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> We have implemented commercially reasonable
physical and electronic security measures to protect against the loss, misuse, and alteration of personally identifiable information.
No security measures are perfect or impenetrable, and we may be unable to anticipate or prevent unauthorized access to our customers&rsquo;
personally identifiable information. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> <I>Property and Equipment</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> Our principal operational
offices are located in Silver Spring, Maryland under a lease for approximately 15,500 square feet of office space, expiring February&nbsp;2033,
pursuant to which we currently pay approximately $42,000 per month escalating annually to $57,000 per month through the end of the lease
term. We believe that this facility is adequate to meet our current and near-term needs. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> Our computing needs are primarily serviced
from our cloud infrastructure provided by Amazon Web Services. We retain backup copies of our content on our own data center infrastructure.
The backup sites enable additional fault tolerance and will support our continued growth. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> <I>Employees and Human Capital</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> In 2020 and 2019, we had approximately
54 and 47 total, full-time employees on average, respectively. As of December 31, 2020, we had approximately 63 full-time employees,
all of whom were located in the U.S. We have one location, a corporate office plus filming studio and edit suites, in Silver Spring,
Maryland (the &ldquo;Office&rdquo;). Our&nbsp;human capital&nbsp;resources objectives include, as applicable, identifying, recruiting,
retaining, incentivizing and integrating our existing and new employees, advisors and consultants. Our ability to attract, retain
and improve the effectiveness of our employees is a critical factor for executing our growth strategy. We strive to recruit the
best people for the job regardless of race, sexual orientation, gender, religion, or other differences. </P>

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

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

<!-- Field: Page; Sequence: 54; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 0.25in"> We are committed to diversity and inclusion
as well as equitable pay within our workforce. To further some of these initiatives, for example, in the third quarter of 2020,
we retained Willis Towers Watson, a leading global advisory firm, to review our compensation structure. Our compensation program
is designed to attract, retain, and motivate highly qualified employees and executives and is comprised of a mix of competitive
base salary, bonus and equity compensation awards, as well as other employee benefits. Currently all employees receive equity
grants with vesting conditions designed to facilitate the retention of personnel and the opportunity to benefit financially from
the Company&rsquo;s growth and profitability. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Our human resource strategy is overseen
by our Chief Operating Officer and executive team, which aims to provide regular updates to our board of directors. Our employees
are not covered by a collective bargaining agreement, and we consider our relations with our employees to be good. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In addition, the health and safety
of our employees, customers and communities are of primary concern to us. During the COVID-19 pandemic, we have taken significant
steps to protect our workforce, including: </P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 24px; font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="text-align: justify; width: 24px; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mandating remote
    work other than certain employees who at various times may be required to work in the Office to conduct minimal operations
    to meet business objectives;</FONT> </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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"> &nbsp; </TD>
    <TD STYLE="width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Establishing additional cleaning and sanitization
    practices on top of the robust sanitization protocols already undertaken in the Office;</FONT> </TD></TR>
</TABLE>
<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 24px"> &nbsp; </TD>
    <TD STYLE="text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Implementing touchless contact points for
    most doors in the Office;</FONT> </TD></TR>
</TABLE>
<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 24px"> &nbsp; </TD>
    <TD STYLE="text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Establishing physical distancing procedures
    for employees in the Office;</FONT> </TD></TR>
</TABLE>
<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 24px"> &nbsp; </TD>
    <TD STYLE="text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Requiring face coverings to be worn in the
    Office and having disposable face coverings available for use,</FONT> </TD></TR>
</TABLE>
<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 24px"> &nbsp; </TD>
    <TD STYLE="text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Implementing HEPA air filter system in the
    conference room in the Office; and</FONT> </TD></TR>
</TABLE>
<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 24px"> &nbsp; </TD>
    <TD STYLE="text-align: justify; width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Installing self-service hand sanitizer dispensers
    in the Office.</FONT> </TD></TR>
</TABLE>
<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 6pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The safety and well-being of our employees is of critical
importance to us to attract and retain top performers and execute on our growth strategy&nbsp; </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>Legal Proceedings</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">From time to time,
we may become involved in legal proceedings arising in the ordinary course of our business. We are not presently a party to any
legal proceedings that, if determined adversely to us, we believe would individually or in the aggregate have a material adverse
effect on our business, results of operations, financial condition or cash flows.</P>


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

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

<!-- Field: Page; Sequence: 55; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_016"></A><B>UNAUDITED PRO FORMA COMBINED FINANCIAL
INFORMATION<SUP></SUP></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The following table sets
forth the historical comparative per share information for the Company on a stand-alone basis and the unaudited pro forma combined per
share information for the years ended December 31, 2020 and 2019, after giving effect to the Merger. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> You should read the information
in the following table in conjunction with the <FONT STYLE="font-family: Times New Roman, Times, Serif">historical audited consolidated
financial statements of CuriosityStream Inc. and related notes thereto that are included in this prospectus</FONT>. The unaudited pro
forma combined share information is derived from, and should be read in conjunction with, the Company&rsquo;s unaudited pro forma combined
financial statements and related notes thereto included herein. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The unaudited pro forma
equivalent per share financial information is calculated by multiplying the combined unaudited pro forma per share amounts by the
exchange ratio, whereby each share of Legacy CuriosityStream common stock and preferred stock was converted into the right to receive
approximately 0.91 shares of Common Stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The unaudited pro forma
combined per share information below does not purport to represent what the actual results of operations or the earnings per share would
have been had the companies been combined during the periods presented, nor to project the combined company&rsquo;s results of operations
or earnings per share for any future date or period. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>(in thousands, except share and per-share
amounts)</B> </P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> CuriosityStream (Historical) </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>SAQN</B> </P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>(Historical)</B> </P></TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Combined<BR> Pro Forma </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold"> Year ended December 31, 2020 (CuriosityStream) and For the Period from January 1, 2020 Through October
    14, 2020 (SAQN) </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 64%; text-align: left; text-indent: -10pt; padding-left: 10pt"> Net loss </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> (38,627 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> (349 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> (39,547 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Weighted average shares outstanding &ndash; basic and diluted </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 18,931,456 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 4,662,207 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 40,194,825 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Basic and diluted net loss per share </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (2.77 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (0.16 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (0.98 </TD><TD STYLE="text-align: left"> ) </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Basic and diluted net loss equivalent per share </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (0.89 </TD><TD STYLE="text-align: left"> ) </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%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> CuriosityStream (Historical) </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> SAQN (Historical) </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Combined <BR> Pro Forma </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold"> Year Ended December 31, 2019 (CuriosityStream) and For the Period from May 9, 2019 (inception) Through
    December 31, 2019 (SAQN) </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 64%; text-align: left; text-indent: -10pt; padding-left: 10pt"> Net (loss) income </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> (42,517 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 7 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> (42,728 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Weighted average shares outstanding &ndash; basic and diluted </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 13,164,675 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,535,964 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 40,194,825 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Basic and diluted net loss per share </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (4.44 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (0.02 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (1.06 </TD><TD STYLE="text-align: left"> ) </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Basic and diluted net loss equivalent per share </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (0.97 </TD><TD STYLE="text-align: left"> ) </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"><B><I>Introduction</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The Company is providing
the following unaudited pro forma combined financial information (the &ldquo;pro forma combined financial statements&rdquo;) to present
the combination of the financial information of the Company and SAQN as adjusted to give effect to the Merger. The pro forma combined
financial statements combine the historical financial statements of the Company and SAQN. The unaudited pro forma combined statements
of operations for the years ended December 31, 2020 and 2019 give pro forma effect to the Merger as if it had occurred as of January
1, 2019. This information should be read together with the Company&rsquo;s audited financial statements and related notes thereto, &ldquo;<I>Management&rsquo;s
Discussion and Analysis of Financial Condition and Results of Operations</I>,&rdquo; and other financial information included elsewhere
in this prospectus. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The unaudited pro forma
combined financial information does not include an unaudited pro forma combined balance sheet as of December&nbsp;31, 2020 as the Business
Combination was consummated on October&nbsp;14, 2020 and is reflected in our historical audited consolidated balance sheet as of December&nbsp;31,
2020, included elsewhere in this prospectus. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The unaudited pro forma
combined statements of operations for the years ended December 31, 2020 and 2019 have been prepared using CuriosityStream Inc.&rsquo;s
audited consolidated statements of operations for the years ended December 31, 2020, and 2019, as included in this prospectus, as well
as the historical statements of operations of SAQN for the period from January 1, 2020 through October 14, 2020 and from May 9, 2019
(inception) through December 31, 2019. </P>

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

<!-- Field: Page; Sequence: 56; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> On August 10, 2020, the
Company entered into the Merger Agreement. As a result of the Merger, the redeemable convertible preferred stock of Legacy CuriosityStream
was converted into common shares of Legacy CuriosityStream and then each issued and outstanding share of Legacy CuriosityStream was exchanged
for newly issued shares of Common Stock. In connection with the Merger, there was also a PIPE Investment of $25 million into the Company.
In addition, in connection with the Merger, approximately 711,000 warrants to purchase Common Stock held by the Sponsor were forfeited,
and in connection with such forfeiture and pursuant to the terms of the merger agreement, certain employees of the Company received fully
vested options exercisable for shares of Common Stock, subject to the terms and conditions of the Omnibus Incentive Plan and certain
other conditions, as set forth in the merger agreement. </P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">For purposes of the
pro forma combined financial statements, the Merger was accounted for as a reverse recapitalization in accordance with Accounting
Standards Codification (&ldquo;ASC&rdquo;) 805, <I>Business Combinations.</I> Under this method of accounting, the Company, who
was the legal acquirer in the Merger, was treated as the &ldquo;acquired&rdquo; company for financial reporting purposes and Legacy
CuriosityStream was treated as the accounting acquirer. This determination was primarily based on the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> Legacy CuriosityStream&rsquo;s
                                            existing stockholders have the greatest voting interest in the Company; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> The largest
                                            individual stockholder in the Company was an existing stockholder of Legacy CuriosityStream; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> Legacy CuriosityStream&rsquo;s
                                            directors represented the majority of the new board of directors of the Company; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> Legacy CuriosityStream&rsquo;s
                                            senior management is the senior management of the Company; and </TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> Legacy CuriosityStream
                                            is the larger entity based on historical revenue and has the larger employee base. </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Accordingly, for
accounting purposes, the Merger is treated as the equivalent of a capital transaction in which Legacy CuriosityStream is issuing
stock for the net assets of the Company. The net assets of the Company are stated at historical cost, with no goodwill or other
intangible assets recorded. Operations prior to the effective time of the Merger (the &ldquo;Effective Time&rdquo;) will be those
of Legacy CuriosityStream. </P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The historical financial
information has been adjusted in the pro forma combined financial statements to give pro forma effect to events that are related and/or
directly attributable to the Merger and the related transactions described herein, are factually supportable, and as it relates to the
unaudited pro forma combined statements of operations, are expected to have a continuing impact on the results of the post-combination
company. Accordingly, the impacts of non-recurring Merger-related expenses are not included in the pro forma combined statements of operations.
Assumptions and estimates underlying the pro forma adjustments are described in the accompanying notes, which should be read in conjunction
with the pro forma combined financial statements. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The pro forma combined
financial statements and information are presented for illustrative purposes only and do not purport to represent the actual results
of operations that the Company and SAQN would have achieved had the companies been combined during the periods presented in the pro forma
combined financial statements and is not intended to project the future results of operations that the combined company may achieve after
the merger. The pro forma combined financial statements do not reflect any potential divestitures that may occur prior to, or subsequent
to, completion of the Merger or cost savings that may be realized as a result of the Merger and also do not reflect any restructuring
or integration-related costs to achieve those potential cost savings. SAQN and the Company have not had any historical relationship prior
to the merger. Accordingly, no pro forma adjustments were required to eliminate activities between the companies. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Included in the shares
outstanding and weighted average shares outstanding as presented in the pro forma combined financial statements are 31,556,837 shares
of Common Stock issued to Legacy CuriosityStream stockholders. </P>

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

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

<!-- Field: Page; Sequence: 57; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>PRO FORMA COMBINED STATEMENT OF OPERATIONS<BR>
YEAR ENDED DECEMBER 31, 2020 (CURIOSITYSTREAM) AND FOR THE<BR>
PERIOD FROM JANUARY 1, 2020 THROUGH OCTOBER 14, 2020 (SAQN)<BR>
(unaudited)<BR>
(in thousands, except share and per-share data)</B> </P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-top: 10pt; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1.5pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(A)
    <BR>
    CuriosityStream</B></FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1.5pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(B)
    <BR>
    SAQN</B></FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1.5pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Pro
    Forma <BR>
    Adjustments</B></FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1.5pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Pro
    Forma Income <BR>
    Statement</B></FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 52%; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenues</FONT> </TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 9%; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">39,621</FONT> </TD>
    <TD STYLE="white-space: nowrap; width: 1%; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 9%; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="white-space: nowrap; width: 1%; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 9%; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="white-space: nowrap; width: 1%; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 9%; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">39,621</FONT> </TD>
    <TD STYLE="white-space: nowrap; width: 1%; text-align: right"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost
    of revenues</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15,418</FONT> </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15,418</FONT> </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advertising
    and marketing</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42,016</FONT> </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42,016</FONT> </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1.5pt; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
    and administrative expenses</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21,135</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">920</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22,055</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt; white-space: nowrap; text-align: right"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 4pt; padding-left: 20pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Loss
    from operations</B></FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(38,948</B></FONT> </TD>
    <TD STYLE="padding-bottom: 4pt; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(920</B></FONT> </TD>
    <TD STYLE="padding-bottom: 4pt; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&mdash;</B></FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(39,868</B></FONT> </TD>
    <TD STYLE="padding-bottom: 4pt; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Other
    income (expense):</B></FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 1.5pt; padding-left: 20pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest
    and other income</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">500</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">571</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(571</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)<SUP>(1)</SUP></FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">500</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt; white-space: nowrap; text-align: right"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Loss
    before income taxes</B></FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(38,448</B></FONT> </TD>
    <TD STYLE="white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(349</B></FONT> </TD>
    <TD STYLE="white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>)</B></FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(571</B></FONT> </TD>
    <TD STYLE="white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(39,368</B></FONT> </TD>
    <TD STYLE="white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 1.5pt; padding-left: 20pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provision
    for income taxes</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">179</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">179</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt; white-space: nowrap; text-align: right"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 4pt; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Net
    loss</B></FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(38,627</B></FONT> </TD>
    <TD STYLE="padding-bottom: 4pt; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(349</B></FONT> </TD>
    <TD STYLE="padding-bottom: 4pt; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>)</B></FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(517</B></FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(39,547</B></FONT> </TD>
    <TD STYLE="padding-bottom: 4pt; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 4pt; padding-left: 20pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted
    average shares outstanding, basic and diluted</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18,931,456</FONT> </TD>
    <TD STYLE="padding-bottom: 4pt; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,662,207</FONT> </TD>
    <TD STYLE="padding-bottom: 4pt; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">35,532,618</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(3)</SUP></FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">40,194,825</FONT> </TD>
    <TD STYLE="padding-bottom: 4pt; white-space: nowrap; text-align: right"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 4pt; padding-left: 20pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic
    and diluted net loss per share attributable to common stockholders</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2.77</FONT> </TD>
    <TD STYLE="padding-bottom: 4pt; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.16</FONT> </TD>
    <TD STYLE="padding-bottom: 4pt; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.98</FONT> </TD>
    <TD STYLE="padding-bottom: 4pt; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD></TR>
  </TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0"> <FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Refer to the accompanying notes to the pro
forma combined financial statements,<BR>
which are an integral part of these statements</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>

<!-- Field: Page; Sequence: 58; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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>PRO FORMA COMBINED STATEMENT OF OPERATIONS<BR>
YEAR ENDED DECEMBER 31, 2019<BR>
(unaudited)<BR>
(in thousands, except share and per-share data)</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>(C) <BR>
    CuriosityStream</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>(D) <BR>
    SAQN</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Pro Forma <BR>
    Adjustments</B></FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Pro Forma <BR>
    Income <BR>
    Statement</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 52%; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt">Revenues</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 9%; text-align: right"> <FONT STYLE="font-size: 10pt">18,026</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 9%; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 9%; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="white-space: nowrap; width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 9%; text-align: right"> <FONT STYLE="font-size: 10pt">18,026</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt">Cost of revenues</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">6,810</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">6,810</FONT> </TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt">Advertising and marketing</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">41,628</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">41,628</FONT> </TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1.5pt; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt">Selling, general and administrative
    <BR>
    expenses</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">14,035</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">211</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">14,246</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 4pt; padding-left: 20pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt"><B>Loss from operations</B></FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double; text-align: right"> <FONT STYLE="font-size: 10pt"><B>(44,447</B></FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> <FONT STYLE="font-size: 10pt"><B>)</B></FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double; text-align: right"> <FONT STYLE="font-size: 10pt"><B>(211</B></FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> <FONT STYLE="font-size: 10pt"><B>)</B></FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double; text-align: right"> <FONT STYLE="font-size: 10pt"><B>(44,658</B></FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> <FONT STYLE="font-size: 10pt"><B>)</B></FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt"><B>Other income (expense):</B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1.5pt; padding-left: 20pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt">Interest and other income</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">2,072</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">220</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">(220</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 10pt">)<SUP>(1)</SUP></FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">2,072</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt"><B>(Loss) income before income taxes</B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><B>(42,375</B></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><B>)</B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><B>9</B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><B>(220</B></FONT> </TD>
    <TD STYLE="white-space: nowrap"> <FONT STYLE="font-size: 10pt"><B>)</B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><B>(42,586</B></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><B>)</B></FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1.5pt; padding-left: 20pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt">Provision for income taxes</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">142</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">2</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">(2</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 10pt">)<SUP>(2)</SUP></FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">142</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 4pt; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt"><B>Net (loss) income</B></FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double"> <FONT STYLE="font-size: 10pt"><B>$</B></FONT> </TD>
    <TD STYLE="border-bottom: black 4.5pt double; text-align: right"> <FONT STYLE="font-size: 10pt"><B>(42,517</B></FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> <FONT STYLE="font-size: 10pt"><B>)</B></FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double"> <FONT STYLE="font-size: 10pt"><B>$</B></FONT> </TD>
    <TD STYLE="border-bottom: black 4.5pt double; text-align: right"> <FONT STYLE="font-size: 10pt"><B>7</B></FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double"> <FONT STYLE="font-size: 10pt"><B>$</B></FONT> </TD>
    <TD STYLE="border-bottom: black 4.5pt double; text-align: right"> <FONT STYLE="font-size: 10pt"><B>(218</B></FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> <FONT STYLE="font-size: 10pt"><B>)</B></FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double"> <FONT STYLE="font-size: 10pt"><B>$</B></FONT> </TD>
    <TD STYLE="border-bottom: black 4.5pt double; text-align: right"> <FONT STYLE="font-size: 10pt"><B>(42,728</B></FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> <FONT STYLE="font-size: 10pt"><B>)</B></FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 4pt; padding-left: 20pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt">Weighted average shares
    outstanding, basic and diluted</FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double; text-align: right"> <FONT STYLE="font-size: 10pt">13,164,675</FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double; text-align: right"> <FONT STYLE="font-size: 10pt">3,535,964</FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double; text-align: right"> <FONT STYLE="font-size: 10pt">36,658,870<SUP>(3)</SUP></FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double; text-align: right"> <FONT STYLE="font-size: 10pt">40,194,834</FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 4pt; padding-left: 20pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt">Basic and diluted net loss
    per share attributable to common stockholders</FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 4.5pt double; text-align: right"> <FONT STYLE="font-size: 10pt">(4.44</FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> <FONT STYLE="font-size: 10pt">)</FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 4.5pt double; text-align: right"> <FONT STYLE="font-size: 10pt">(0.02</FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> <FONT STYLE="font-size: 10pt">)</FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 4pt; text-align: right"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 4.5pt double; text-align: right"> <FONT STYLE="font-size: 10pt">(1.06</FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> <FONT STYLE="font-size: 10pt">)</FONT> </TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></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">Refer to the accompanying notes to the pro
forma combined financial statements,<BR>
which are an integral part of these statements</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>

<!-- Field: Page; Sequence: 59; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->49<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pro Forma Adjustments to the Unaudited Combined
Statements of Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-size: 10pt">(A)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derived
from the audited consolidated statement of operations of CuriosityStream for the year ended December 31, 2020. See CuriosityStream&rsquo;s
audited consolidated financial statements as of and for the year ended December 31, 2020 included in this prospectus</FONT>. </TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-size: 10pt">(B)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derived
from the historical statement of operations for the period from January 1, 2020 through October 14, 2020.</FONT> </TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-size: 10pt">(C)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-size: 10pt">Derived from the audited consolidated
statement of operations of CuriosityStream for the year ended December 31, 2019. See CuriosityStream&rsquo;s audited consolidated financial
statements as of and of the year ended December 31, 2019 included in this prospectus.</FONT> </TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-size: 10pt">(D)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-size: 10pt">Derived from the statement of
operations of SAQN for the period from May 9, 2019 (inception) through December 31, 2019.</FONT> </TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Represents an adjustment to eliminate
interest income on marketable securities held in the trust account as of the beginning of the period.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Represents an adjustment to the
provision for income taxes as the post-combination company expects to be in a full valuation allowance due to continuing losses.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-size: 10pt">(3)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-size: 10pt">The calculation of weighted average
shares outstanding for basic and diluted net loss per share assumes that SAQN&rsquo;s initial public offering occurred as of January
1, 2019. In addition, as the Merger is being reflected as if it had occurred on this date, the calculation of weighted average shares
outstanding for basic and diluted net loss per share assumes that the shares have been outstanding for the entire period presented. This
calculation is retroactively adjusted to eliminate the number of shares redeemed in the Merger for the entire period.</FONT> </TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The following presents
the calculation of basic and diluted weighted average common shares outstanding. The computation of diluted loss per share excludes the
effect of 11,504,000 warrants to purchase 11,504,000 shares of Common Stock as well as outstanding stock options and restricted stock
units during each of the periods presented, because the inclusion of these securities would be anti-dilutive. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&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> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Combined</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD> <FONT STYLE="font-size: 10pt"><B>Weighted average shares calculation, basic and diluted</B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 88%; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt">Software Acquisition Group public
    shares</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 9%; text-align: right"> <FONT STYLE="font-size: 10pt">2,400,488</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt">Software Acquisition Group Sponsor shares</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">3,737,500</FONT> </TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt">Software Acquisition Group shares issued to PIPE
    Investors(1)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">2,500,000</FONT> </TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1.5pt; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt">Software Acquisition Group
    shares issued in the Merger</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">31,556,837</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 4pt; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt">Weighted average shares
    outstanding</FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 4.5pt double; text-align: right"> <FONT STYLE="font-size: 10pt">40,194,825</FONT> </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt">Percent of shares owned by Legacy CuriosityStream
    stockholders</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">78.5</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt">Percent of shares owned by PIPE Investors</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">6.2</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt">Percent of shares owned by Company stockholders
    existing prior to the Merger</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">15.3</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD></TR>
  </TABLE>

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="border-top: Black 1.5pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -24pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Certain of the shares issued to the PIPE Investors were
issued to John Hendricks, the Chairman of the Company&rsquo;s Board of Directors.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -24pt"></P>

<!-- Field: Page; Sequence: 60; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -24pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_017"></A>MANAGEMENT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Executive Officers and Board of Directors</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The following persons
are our executive officers and directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&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 1.5pt solid"> <FONT STYLE="font-size: 10pt"><B>Name</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Age</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Position</B></FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 32%"> <FONT STYLE="font-size: 10pt">John Hendricks</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 7%; text-align: center"> <FONT STYLE="font-size: 10pt">68</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 59%"> <FONT STYLE="font-size: 10pt">Chairman of the Board</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-size: 10pt">Clint Stinchcomb</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 10pt">54</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-size: 10pt">President and Chief Executive Officer, Director</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-size: 10pt">Jason Eustace</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 10pt">50</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-size: 10pt">Chief Financial Officer and Treasurer</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-size: 10pt">Tia Cudahy</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 10pt">56</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-size: 10pt">Chief Operating Officer, General Counsel and Secretary</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-size: 10pt">Devin Emery</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 10pt">30</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-size: 10pt">Chief Product Officer and EVP Content Strategy</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-size: 10pt">Elizabeth Hendricks</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 10pt">37</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-size: 10pt">Director</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-size: 10pt">Patrick Keeley</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 10pt">72</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-size: 10pt">Director</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-size: 10pt">Matthew Blank</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 10pt">70</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-size: 10pt">Director</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-size: 10pt">Jonathan Huberman</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 10pt">55</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-size: 10pt">Director</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-size: 10pt">Mike Nikzad</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 10pt">57</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-size: 10pt">Director</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-size: 10pt">Andrew Hendricks</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 10pt">36</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-size: 10pt">Director</FONT> </TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B><I>John Hendricks</I></B>
is the founder of Legacy CuriosityStream, served as the manager of Legacy CuriosityStream&rsquo;s predecessor, CuriosityStream LLC, and
has served as the Chairman of the board of directors of Legacy CuriosityStream since September&nbsp;2018 and as Legacy CuriosityStream&rsquo;s
Chief Editorial Officer since October&nbsp;2018. Prior to serving as the Chairman of the Board, Mr. Hendricks served as the chairman
of Discovery Communications, the global media parent company of Discovery Channel, Animal Planet, TLC and Science, among many other television
networks and ancillary businesses and brands, from inception to May&nbsp;2014. Mr. Hendricks launched Discovery Channel in 1985 as the
first cable network in the United&nbsp;States designed to provide high-quality documentary programming enabling people to explore their
world and satisfy their curiosity. Mr. Hendricks holds a Bachelor of Arts degree in History and an Honorary Doctorate from the University
of Alabama, Huntsville.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Mr. Hendricks
has considerable knowledge of our industry and key industry relationships, along with access to capital and esteemed content creators
and distributors. For these reasons, we believe Mr. Hendricks is qualified to serve on our Board. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B><I>Clint Stinchcomb</I></B>
is the President and Chief Executive Officer of the Company and has served in this role since June&nbsp;2018. Mr. Stinchcomb also
serves as a member of our Board, and has held such position since October&nbsp;2018. Prior to serving as the President and Chief
Executive Officer, Mr. Stinchcomb served as Legacy CuriosityStream&rsquo;s Chief Distribution Officer from May&nbsp;2017 to June&nbsp;2018,
and as the Chief Executive Officer and co-founder of Poker Central from March&nbsp;2014 to October&nbsp;2016. Mr. Stinchcomb has
also served as the Founder and Managing Partner of Worldwide Media Group since September&nbsp;2009. Prior to February&nbsp;2009,
Mr. Stinchcomb served as the Executive Vice President and General Manager of Discovery Communications&rsquo; Emerging Television
Networks and as the Senior Vice President of Discovery&rsquo;s New Media Operations and HDTV. Mr. Stinchcomb holds a Bachelor of
Arts degree in History from Dartmouth College.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Mr. Stinchcomb
has over 25&nbsp;years of traditional and digital media experience and has played a critical role in the launches and successful
growth of several television networks, content franchises and enthusiast brands. For these reasons, we believe Mr. Stinchcomb
is qualified to serve on our Board. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B><I>Jason Eustace</I></B>
is the Chief Financial Officer and Treasurer of the Company and has served as the Chief Financial Officer and Treasurer of Legacy
CuriosityStream since February&nbsp;2020. Prior to Legacy CuriosityStream, Mr. Eustace served as the Head of Finance for Bluemercury
from April&nbsp;2019 to February&nbsp;2020, and prior to Blue Mercury, at Pet360 from November&nbsp;2015 through January&nbsp;2018.
Mr. Eustace served at Discovery Communications US Networks from November&nbsp;2007 through July&nbsp;2015, where he was responsible
for accounting, financial planning and analysis, budgeting, and strategic planning.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B><I>Tia Cudahy </I></B>is
the Chief Operating Officer, General Counsel and Secretary of the Company and has served as the Chief Operating Officer of
Legacy CuriosityStream from October&nbsp;2013 through January&nbsp;2016 and again since June&nbsp;2018 to the present, and as
the General Counsel from inception through May&nbsp;2015 and again since May&nbsp;2017 to the present. Ms.&nbsp;Cudahy worked
previously for National Public Radio and as a Deputy General Counsel for Discovery Communications. Ms.&nbsp;Cudahy served as
the Chief Strategy Officer from January&nbsp;2016 to June&nbsp;2018, and as Executive&nbsp;Vice President from inception to
October&nbsp;2013. Ms.&nbsp;Cudahy holds a Bachelor of Arts degree from Amherst College and a Juris Doctor degree from The
University of Chicago Law School.</P>

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

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

<!-- Field: Page; Sequence: 61; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B><I>Devin Emery</I></B>
is Chief Product Officer and EVP Content Strategy of the Company and has served as Head of Growth of Legacy CuriosityStream since
November&nbsp;2019. From May&nbsp;2017 until joining Legacy CuriosityStream in November&nbsp;2019, Mr. Emery served as Vice President
of Growth at Cheddar, where he architected the network into a leading post-cable digital and linear publisher reaching hundreds
of millions of people monthly across platforms, resulting in a $200 million acquisition by Altice USA. From September&nbsp;2015
to May&nbsp;2017, Mr. Emery was on the launch team of the OTT video networks group at Endeavor leading strategy and audience development.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B><I>Elizabeth Hendricks</I></B>
serves as a member of our Board, and has held such position since October&nbsp;2018. Prior to serving on our Board, Ms.&nbsp;Hendricks
served as President of Curiosity Studios, the in-house production function of the Company, from June&nbsp;2018 to October&nbsp;2018.
Prior to serving as the President of Curiosity Studios, Ms.&nbsp;Hendricks served as the company&rsquo;s President and Chief Executive
Officer from August&nbsp;2013 to June&nbsp;2018 and served as Vice President of Hendricks Investment Holdings, LLC from December&nbsp;2012
to August&nbsp;2013. Ms.&nbsp;Hendricks has also served as a Vice President of Hendricks Investment Holdings, LLC from October&nbsp;2018
through the present. Since 2006, Ms.&nbsp;Hendricks has served as Trustee of the John and Maureen Hendricks Charitable Foundation,
a non-profit organization that has contributed over $35 million to a wide variety of causes, from basic social services to science
research. Ms.&nbsp;Hendricks holds a Bachelor of Arts degree in History from Princeton University.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> As the executive
responsible for taking Legacy CuriosityStream from incubation to launch, we believe Ms.&nbsp;Hendricks is qualified to serve on
our Board. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B><I>Patrick Keeley</I></B>
serves as a member of our Board and has held such position since November&nbsp;2018. Since May&nbsp;2008, Mr. Keeley has been the
Senior Managing Director of Investment Banking at Stifel, Nicolaus&nbsp;&amp; Company, Incorporated, and since January&nbsp;2017,
Mr. Keeley has also served as Vice Chairman&nbsp;&mdash; Investment Banking of Stifel, Nicolaus&nbsp;&amp; Company, Incorporated.
Mr. Keeley served as the Co-Head of Investment Banking at Stifel, Nicolaus&nbsp;&amp; Company, Incorporated from May&nbsp;2008
to January&nbsp;2017. Prior to joining Stifel, Nicolaus&nbsp;&amp; Company, Incorporated, Mr. Keeley held various positions at
Friedman, Billings&nbsp;&amp; Ramsey, including Managing Director, Co-Head of Investment Banking and Executive Vice President.
Prior to joining Friedman, Billings&nbsp;&amp; Ramsey, Mr. Keeley was a partner at the law firm Fulbright&nbsp;&amp; Jaworski where
Mr. Keeley worked from 1977 to 1997. Mr. Keeley holds a Bachelor of Arts degree in Business Administration from Georgetown University
and a Juris Doctor degree from Fordham University. Mr. Keeley was originally appointed to our Board pursuant to an agreement between
us and Stifel, Nicolaus&nbsp;&amp; Company, Incorporated.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Mr. Keeley has
extensive insight, experience and expertise in finance. For this reason, we believe Mr. Keeley is qualified to serve on our Board. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B><I>Matthew Blank</I></B>
serves as a member of our Board and has held such position since August&nbsp;2020. Mr. Blank is a senior advisor to the Raine Group.
He recently served from January 1, 2018 to December 31, 2018 as an advisor to Showtime Networks Inc. (&ldquo;Showtime&rdquo;),
a subsidiary of CBS Corporation (NYSE: CBS). Prior to that in 2016 and 2017, he served as Chairman of Showtime, and from 1995 through
2015 he served as Chief Executive Officer of Showtime. From 1993 &ndash; 1995 he was President and Chief Operating Officer of Showtime
and from 1988 &ndash; 1992 he served as Executive Vice President of Marketing, Creative Services, and Public Affairs. Prior to
his service at Showtime, Mr. Blank served for over 12&nbsp;years in various roles at Home Box Office, Inc., a premium television
network, leaving HBO as its Senior Vice President of Consumer Marketing. Mr. Blank served on the board of directors of Geeknet,
Inc. from 2010 to 2015. Mr. Blank served on the board of the National Cable Television Association from 1994 &ndash; 2017 and is
a member of the board of directors of Madison Square Garden Entertainment Corp. (NYSE: MSGE) and Cumulus Media Inc. (NASDAQ: CMLS).
He also currently serves as a member of the board of directors of The Cable Center and as a trustee of The Harlem Children&rsquo;s
Zone, The Manhattan Theater Club, as well as The Creative Coalition, and The Museum of the Moving Image.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Mr. Blank has
extensive corporate management experience in the media industry, as evidenced by his senior management positions at Showtime and
HBO, which will allow him to offer management and operational insight to our Board. In addition, this history and experience contributes
to the Board through significant insight into a number of functional areas critical to CuriosityStream and allows him to bring
a unique perspective to his service on our Board. For these reasons, we believe Mr. Blank is qualified to serve on our Board. </P>

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

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

<!-- Field: Page; Sequence: 62; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> <B><I>Jonathan
Huberman </I></B>serves as a member of our Board and has held such position since October 2020. Mr. Huberman served as SAQN&rsquo;s
Chairman, Chief Executive Officer and Chief Financial Officer from its inception until October 2020. He has over 25&nbsp;years
of high-tech business leadership experience. From 2017 to 2019 Mr. Huberman was Chief Executive Officer of Ooyala Global, Inc.
(&ldquo;Ooyala&rdquo;), a provider of media workflow automation, delivery and monetization solutions, which he and Mike Nikzad,
SAQN&rsquo;s Vice President of Acquisitions and a director of SAQN from November 2019 until October 2020, acquired from Telstra
in 2018. Together with Mr. Nikzad, Mr. Huberman turned around an underperforming company and sold Ooyala&rsquo;s three core business
units to Invidi Technologies, Brightcove (NASDAQ: BCOV) and Dalet (EPA: DLT), major players in the same sector. Previously, Mr.
Huberman served as the Chief Executive Officer of Syncplicity, a SaaS enterprise data management company, which he sourced and
acquired from EMC and engineered an exit to Axway (EPA: AXW). Prior to this, from 2013 to 2015, Mr. Huberman was the Chief Executive
Officer of Tiburon, an enterprise software company serving the public safety sector which he sold to Tritech Systems, and before
that he was the Chief Executive Officer at Iomega Corporation (NYSE: IOM), a consumer and distributed enterprise storage solutions
provider. After Iomega was acquired by EMC Corporation in 2008, Mr. Huberman served as President of the Consumer and Small Business
Division of EMC. In addition to his experience leading turnarounds and exits at five technology companies, Mr. Huberman spent
nine years as an investor for the Bass Family interests where he led investments in private and public companies. He also had
senior roles leading the operations of the technology investments of the Gores Group and Skyview Capital. In the last five years
he has served as a director of Aculon, Inc., a privately held provider of easy-to-apply nanotech surface-modification technologies,
as well as Venture Corporation Limited (SGX: V03) a high-tech design and manufacture firm based in Singapore. Mr. Huberman holds
a Bachelor of Arts in Computer Science from Princeton University and an MBA from The Wharton School at the University of Pennsylvania. </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif">Mr.
Huberman has extensive operational, management and investment experience in the software and technology industries. For these
reasons, we believe Mr. Huberman is qualified to serve on our Board</FONT>. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> <B><I>Mike Nikzad
</I></B>serves as a member of our Board and has held such position since October&nbsp;2020. Mr. Nikzad served as SAQN&rsquo;s
Vice President of Acquisitions since inception and as one of SAQN&rsquo;s directors from its inception until October&nbsp;2020.
He has over two decades of business leadership experience in software, technology and consumer electronics companies, where he
has worked on numerous corporate turnarounds and exits. Mr. Nikzad was President and Chief Operating Officer at Ooyala from 2017
until its sale in 2019. Prior to Ooyala, in the last five years Mr. Nikzad has held C-suite positions and led company operations
at Syncplicity, a SaaS enterprise data management company and NewNet Communication Technologies, a telecommunications company,
as well as serving as an Operating Partner at SilverStream Capital. Prior to this, he also held management and executive positions
in EMC Corp&rsquo;s (NYSE: EMC) Consumer and Small Business division and at Iomega Corporation, a consumer and distributed enterprise
storage solutions provider. Mr. Nikzad has a Bachelor of Science degree in Mechanical Engineering from Utah State University and
has completed the Stanford GSB Strategic Marketing Management Program. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> Mr. Nikzad has extensive
operational and management experience in the software and telecommunications industries. For these reasons, we believe Mr. Nikzad
is qualified to serve on our Board. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> <B><I>Andrew Hendricks
</I></B>serves as a member of our Board and has held such position since January&nbsp;2021. Mr. Hendricks is currently Vice President
of Hendricks Investment Holdings LLC (HIH) and is responsible for exploring venture investments in advanced media, digital technologies,
and hospitality. Mr. Hendricks is also President and CEO of Experius VR, a company he founded in 2015 to develop virtual and augmented
reality media experiences. Through his leadership of Experius VR, Mr. Hendricks pioneered the use of 360-video for television
commercial development in 2016 for several brands in a variety of industries. With Mr. Hendricks&rsquo;s guidance, Experius VR
became a leader in hyper-realism and photogrammetric environments leading to the company&rsquo;s advancements in Volumetric Video
and Spacial Interactivity, leading to production of the highly-rated &ldquo;Nefertari&rsquo;s Tomb: Journey to Eternity&rdquo;
and &ldquo;Tutankhamun: Enter the Tomb&rdquo;&nbsp;experiences. &ldquo;Tutankhamun: Enter the Tomb&rdquo;&nbsp;premiered at the
Saatchi Gallery in London as part of the King Tutankhamun Exhibit and subsequently won the Advanced Imaging Society&rsquo;s Lumiere
Award for Best VR Education/Museum Experience. Mr. Hendricks is also the founder of Driven Experiences, a high-performance off-road
driving school that works with automotive manufacturers providing advanced vehicle training, recovery, and safety. Mr. Hendricks
attended the University of North Carolina, Chapel Hill. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> Mr. Hendricks has
extensive entrepreneurial experience in advanced media including, 360-video, augmented reality and immersive VR. For these reasons,
we believe Mr. Hendricks is qualified to serve on our Board. </P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> Our business affairs are managed under
the direction of our Board. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> Our Board consists
of eight (8)&nbsp;directors. The number of directors is fixed by our Board, subject to the terms of our Charter and Bylaws. When
considering whether directors have the experience, qualifications, attributes or skills, taken as a whole, to enable our board
of directors to satisfy its oversight responsibilities effectively in light of our business and structure, the Board focuses primarily
on each person&rsquo;s background and experience as reflected in the information discussed in each of the directors&rsquo; individual
biographies set forth above. We believe that our directors provide an appropriate mix of experience and skills relevant to the
size and nature of our business. </P>

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

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

<!-- Field: Page; Sequence: 63; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->53<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> Our Board is classified
into three classes, each comprising as nearly as possible one-third of the directors to serve three-year terms. As Class I directors,
each of Elizabeth Hendricks, Patrick Keeley and Andrew Hendricks will serve until our 2021 annual meeting; as Class II directors,
each of John Hendricks and Clint Stinchcomb will serve until our 2022 annual meeting; and as Class III directors, each of Jonathan
Huberman, Mike Nikzad and Matthew Blank will serve until our 2023 annual meeting, or in each case until their respective successors
are duly elected and qualified, or until their earlier resignation, removal or death. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> Concurrently with
the Closing, the Company entered into an Investor Rights Agreement with Legacy CuriosityStream, the Sponsor, HFM and officers
and directors of Legacy CuriosityStream. Under the Investor Rights Agreement, CuriosityStream shall nominate two individuals designated
by the Sponsor (each a &ldquo;Sponsor Director&rdquo;) for election as members of the Board if, at such time, the Board does not
contain a Sponsor Director and the Sponsor and their affiliates (the &ldquo;Sponsor Entities&rdquo;) together continue to beneficially
own at least 50% of the shares of Common Stock beneficially owned by the Sponsor Entities as of the Effective Time of the Merger.
Further, under the Investor Rights Agreement, HFM and the officers and directors of Legacy CuriosityStream must vote in favor
of, or otherwise consent to, the election or appointment of a Sponsor Director at any meeting of the stockholders under the terms
set forth above. If the Sponsor does not elect to nominate two Sponsor Directors, CuriosityStream must permit the Sponsor to select
one non-voting observer to participate in any Board meeting (including any committee thereof), for so long as the Sponsor and
its affiliates continue to beneficially own at least 50% of the shares of Common Stock beneficially owned by the Sponsor Entities
as of the Effective Time of the Merger. Once the Sponsor Entities collectively own less than 50% of the shares of Common Stock
beneficially owned by the Sponsor Entities as of the Effective Time of the Merger, these board designation rights terminate; provided,
however that CuriosityStream may not take any action to remove or replace any Sponsor Designee from the Board until such the normally
scheduled expiration of such Sponsor Designee&rsquo;s term. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> In the case of a
vacancy on the Board created by the death, disability, disqualification, removal or resignation of a Sponsor Director, CuriosityStream
must notify the Sponsor of such vacancy and nominate an individual timely designated by the Sponsor for election to fill the vacancy,
provided that such nomination would not constitute a breach of the Board&rsquo;s fiduciary duties or applicable laws. </P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Pursuant to NASDAQ listing
standards, we are required to have a board of directors comprised of a majority of independent directors. An &ldquo;independent director&rdquo;
is defined generally as a person other than an officer or employee of the company or its subsidiaries or any other individual having
a relationship which, in the opinion of our Board, would interfere with the director&rsquo;s exercise of independent judgment in carrying
out the responsibilities of a director. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> Our Board has determined
that each of John Hendricks, Elizabeth Hendricks, Patrick Keeley, Matthew Blank, Jonathan Huberman, Mike Nikzad and Andrew Hendricks
is independent within the meaning of Rule&nbsp;5605(a)(2) of the NASDAQ Listing Rules. In making that determination, the Board considered
(i)&nbsp;John Hendrick&rsquo;s interest in the Company, (ii)&nbsp;the family relationships between John Hendricks, Elizabeth Hendricks
and Andrew Hendricks, (iii)&nbsp;Elizabeth Hendricks&rsquo;, Jonathan Huberman&rsquo;s and Mike Nikzad&rsquo;s past employment with Legacy
CuriosityStream and SAQN, respectively, (iv)&nbsp;Patrick Keeley&rsquo;s employment with Stifel, Nicolaus&nbsp;&amp; Company, and (v)&nbsp;Andrew
Hendricks&rsquo; ownership of Experius LLC. In addition, we are subject to the rules of the SEC and the NASDAQ relating to the membership,
qualifications, and operations of the audit committee, as discussed below. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

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

<!-- Field: Page; Sequence: 64; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->54<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif">Our
Board directs the management of our business and affairs, as provided by Delaware law, and conducts its business through meetings
of the board of directors and its standing committees. </FONT>The standing committees of our Board consist of an audit committee,
a compensation committee and a nominating and corporate governance committee. Our Board may from time to time establish other
committees. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our president and chief
executive officer and other executive officers will regularly report to the non-executive directors and the audit, compensation and nominating
and corporate governance committees to ensure effective and efficient oversight of our activities and to assist in proper risk management
and the ongoing evaluation of management controls. We believe that the leadership structure of our Board provides appropriate risk oversight
of our activities. </P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Our audit committee
consists of Jonathan Huberman, who serves as the chairperson, Patrick Keeley and Mike Nikzad. Each member of the audit committee
qualifies as an independent director under the NASDAQ corporate governance standards and the independence requirements of Rule&nbsp;10A-3
of the Exchange Act. Each member of our audit committee qualifies as an &ldquo;audit committee financial expert&rdquo; as such
term is defined in Item&nbsp;407(d)(5) of Regulation S-K and possesses financial sophistication, as defined under the rules of
the NASDAQ.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The purpose of the audit
committee is to prepare the audit committee reports required by the SEC to be included in our proxy statements and to assist our
Board in overseeing and monitoring (1)&nbsp;the quality and integrity of our financial statements, (2)&nbsp;our compliance with
legal and regulatory requirements, (3)&nbsp;our independent registered public accounting firm&rsquo;s qualifications and independence,
(4)&nbsp;the performance of our internal audit function and (5)&nbsp;the appointment, retention, compensation and performance of
our independent registered public accounting firm.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The written charter
for the audit committee is available on our website.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Our compensation committee
consists of Patrick Keeley, who serves as the chairperson, Elizabeth Hendricks and Jonathan Huberman. Each member of the compensation
committee qualifies as an independent director under the NASDAQ corporate governance standards.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The purpose of the compensation
committee is to assist our Board in discharging its responsibilities relating to (1)&nbsp;setting our compensation program and
compensation of our executive officers and directors, (2)&nbsp;monitoring our incentive and equity-based compensation plans and
(3)&nbsp;preparing the compensation committee reports required to be included in our proxy statements under the rules and regulations
of the SEC.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The written charter
for the compensation committee is available on our website.</P>

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

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

<!-- Field: Page; Sequence: 65; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Nominating and Corporate Governance Committee</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our nominating and corporate
governance committee consists of Matthew Blank, who serves as the chairperson, Elizabeth Hendricks, Mike Nikzad and Andrew Hendricks.
Pursuant to NASDAQ listing standards, we are required to have a nominating and corporate governance committee composed entirely of independent
directors. Each member of the nominating and corporate governance committee qualifies as an independent director under the NASDAQ corporate
governance standards. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The purpose of
our nominating and corporate governance committee is to assist our Board in discharging its responsibilities relating to
(1)&nbsp;identifying individuals qualified to become new Board members, consistent with criteria approved by the Board,
(2)&nbsp;reviewing the qualifications of incumbent directors to determine whether to recommend them for reelection and
selecting, or recommending that the Board select, the director nominees for the next annual meeting of stockholders,
(3)&nbsp;identifying Board members qualified to fill vacancies on any Board committee and recommending that the Board appoint
the identified member or members to the applicable committee, (4)&nbsp;reviewing and recommending to the Board corporate
governance principles applicable to us, (5)&nbsp;overseeing the evaluation of the Board and management and (6)&nbsp;handling
such other matters that are specifically delegated to the committee by the Board from time to time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The written charter
for the nominating and corporate governance committee is available on our website.</P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> John Hendricks,
the chairman of our Board, is the father of Elizabeth Hendricks and Andrew Hendricks, two of our directors. Other than discussed
above, there are no family relationships between or among any of our directors or executive officers. </P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We have adopted a
code of business conduct that applies to all of our directors, officers and employees, including our principal executive officer,
principal financial officer and principal accounting officer, which is available on our website. Our code of business conduct is
a &ldquo;code of ethics,&rdquo; as defined in Item&nbsp;406(b) of Regulation S-K. We expect to make any legally required disclosures
regarding amendments to, or waivers of, provisions of our code of ethics on our website.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Compensation Committee Interlocks and Insider Participation</B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Our compensation
committee consists of Patrick Keeley, who serves as the chairperson, Elizabeth Hendricks, Jonathan Huberman and Andrew Hendricks.
Other than as set forth below, no person who served on the compensation committee of the Company&rsquo;s board of directors in
the Company&rsquo;s last completed fiscal year was at any time during fiscal year 2020, or at any other time, one of our officers
or employees. Elizabeth Hendricks served as President of Curiosity Studios, the in-house production function of Legacy CuriosityStream,
from June&nbsp;2018 to October&nbsp;2018. Prior to serving as the President of Curiosity Studios, Ms.&nbsp;Hendricks served as
Legacy CuriosityStream&rsquo;s President and Chief Executive Officer from August&nbsp;2013 to June&nbsp;2018. Jonathan Huberman
served as SAQN&rsquo;s Chairman, Chief Executive Officer and Chief Financial Officer from its inception until October&nbsp;2020.
None of our executive officers has served as a director or member of a compensation committee (or other committee serving an equivalent
function) of any entity, one of whose executive officers served as a director of our board of directors or member of our compensation
committee.<B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"><B>&nbsp;</B></P>

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

<!-- Field: Page; Sequence: 66; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->56<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_018"></A>CERTAIN RELATIONSHIPS AND RELATED PERSON
TRANSACTIONS</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The following
is a description of each transaction since January 1, 2018 and each currently proposed transaction in which: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">we were or are to be a participant;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the amount involved exceeded or will exceed $120,000;
and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">any of our directors, executive officers, beneficial
holders of more than 5% of our capital stock, or any member of their immediate family or person sharing their household had or
will have a direct or indirect material interest.</TD>
</TR></TABLE>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Concurrently with the Closing, the Company
entered into the Investor Rights Agreement with Legacy CuriosityStream, the Sponsor, HFM and officers and directors of Legacy
CuriosityStream. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> Under the Investor Rights Agreement,
CuriosityStream shall nominate two Sponsor Directors for election as members of the Board if, at such time, the Board does not
contain a Sponsor Director and the Sponsor Entities together continue to beneficially own at least 50% of the shares of Common
Stock beneficially owned by the Sponsor Entities as of the Effective Time of the Merger. Further, under the Investor Rights Agreement,
HFM and the officers and directors of Legacy CuriosityStream must vote in favor of, or otherwise consent to, the election or appointment
of a Sponsor Director at any meeting of the stockholders under the terms set forth above. If the Sponsor does not elect to nominate
two Sponsor Directors, CuriosityStream must permit the Sponsor to select one non-voting observer to participate in any Board meeting
(including any committee thereof), for so long as the Sponsor and its affiliates continue to beneficially own at least 50% of
the shares of Common Stock beneficially owned by the Sponsor Entities as of the Effective Time of the Merger. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> In the case of a vacancy on the Board
created by the death, disability, disqualification, removal or resignation of a Sponsor Director, CuriosityStream must notify
the Sponsor of such vacancy and nominate an individual timely designated by the Sponsor for election to fill the vacancy, provided
that such nomination would not constitute a breach of the Board&rsquo;s fiduciary duties or applicable laws. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> Further, under the Investor Rights Agreement,
CuriosityStream must provide to Legacy CuriosityStream stockholders, officers and directors certain customary &ldquo;mandatory,&rdquo;
&ldquo;demand&rdquo; and &ldquo;piggyback&rdquo; registration rights. Legacy CuriosityStream&rsquo;s directors and officers are
subject to certain transfer restrictions for a period of 180&nbsp;days following the date of the Investor Rights Agreement, subject
to an exception for PIPE Shares. The Investor Rights Agreement also provides that CuriosityStream will pay certain expenses relating
to such registrations and indemnify the such parties against (or make contributions in respect of) certain liabilities which may
arise under the Securities&nbsp;Act. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Pursuant to a registration rights agreement
entered into on November 19, 2019, the holders of the Founder Shares, Private Placement Warrants and any Working Capital Warrants
(and any shares of common stock issuable upon the exercise of such warrants) are entitled to registration rights, requiring the
Company to register such securities for resale. The holders of the majority of these securities are entitled to make up to three
demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain &ldquo;piggy-back&rdquo;
registration rights and rights to require the Company to register for resale such securities pursuant to Rule&nbsp;415 under the
Securities Act. The Company will bear the expenses incurred in connection with the filing of any such registration statements. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> Clint Stinchcomb, our President and Chief
Executive Officer and a member of our Board, serves as the managing director of Worldwide Media Group, LLC (&ldquo;WMG&rdquo;).
WMG is party to a joint venture agreement (the &ldquo;Joint Venture Agreement&rdquo;) with Jupiter Entertainment LLC for the development
of an original content streaming production for CuriosityStream entitled &ldquo;Muck City.&rdquo; Pursuant to the terms of the
Joint Venture Agreement, subject to certain exceptions, WMG is entitled to receive approximately 8.0% of the gross revenue generated
by this project, any derivative programs, series or spinoffs. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> &nbsp; </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> Andrew Hendricks, a member of our Board,
owns 50% of Experius LLC. In 2017 and 2018, Legacy CuriosityStream made payments totaling $278,000 to Experius LLC for virtual
reality content. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> On April 2, 2018, Legacy CuriosityStream
entered into an Amended and Restated Loan Agreement with Bank of America, N.A. as lender, for which John Hendricks, a member of
our Board, served as a guarantor. Legacy CuriosityStream repaid the entirety of the $30.0 million of indebtedness under the Amended
and Restated Loan Agreement in 2018. The Amended and Restated Loan Agreement called for interest-only monthly payments at a variable
rate equal to the LIBOR Daily Floating Rate plus 2.40%. Legacy CuriosityStream&rsquo;s obligations under the Amended and Restated
Loan Agreement were secured by real property owned by John Hendricks, his wife, Maureen D. Hendricks, and their children Andrew
Hendricks and Elizabeth Hendricks, each of whom is also a member of our Board. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 67; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->57<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> On May 1, 2014 Legacy CuriosityStream
entered into (i) a promissory note, providing for advances of up to $122,650 and maturing April 30, 2023 (the &ldquo;Promissory
Note&rdquo;) and (ii) a revolving promissory note, providing for advances of up to $75 million (as amended, the &ldquo;Revolving
Promissory Note&rdquo;), each in favor of Hendricks Private Holdings, LLC (&ldquo;HPH&rdquo;), which is an affiliate of John Hendricks,
a member of our Board. Under the terms of the Promissory Note, Legacy CuriosityStream was required to make annual interest only
payments, with amounts outstanding under the Promissory Note bearing interest at a rate of 1.93% per annum. Under the terms of
the Promissory Note, Legacy CuriosityStream borrowed $122,650, of which $122,650 plus accrued interest was outstanding as of June
30, 2018. Subsequent to June 30, 2018, the entire principal and accrued interest balance on the Promissory Note was paid in full
to HPH. Under the terms of the Revolving Promissory Note, interest was accrued on the outstanding principal amount at a rate of
1.11% per annum. On September 30, 2018, the entire outstanding principal and accrued interest balance on the Revolving Promissory
Note, which totaled $75 million as of such date, was converted into additional equity of Legacy CuriosityStream. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> From 2015 through September 2018, Hendricks
Investment Holdings LLC (&ldquo;HIH&rdquo;), which is an affiliate of Board members John Hendricks, Elizabeth Hendricks and Andrew
Hendricks, and of which each of Elizabeth Hendricks and Andrew Hendricks is vice president, provided management and administrative
support services to Legacy CuriosityStream under the terms of a month-to-month agreement. These services included executive, operational,
legal, finance, and other professional services as well as travel, insurance, and related costs. Management fees for 2018 totaled
$2,014,000. We sublet a portion of our office space to HIH. The related party sublease rental income recognized on a straight-line
basis totaled $160,000, $53,000 and $53,000 for 2018, 2019 and 2020, respectively. Deferred rent receivable related to straight-line
rent accrual was $46,000, $46,000 and $67,000 for 2018, 2019 and 2020, respectively. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> Stifel, Nicolaus&nbsp;&amp; Company,
Incorporated served as Legacy CuriosityStream&rsquo;s exclusive financial advisor in connection with the Merger. In addition,
we may engage Stifel to provide certain financial advisory and capital markets services in the future. Stifel served as Legacy
CuriosityStream&rsquo;s exclusive financial advisor and placement agent in its offering and sale of Series A Preferred Stock in
November&nbsp;2018. In addition, Stifel Bank&nbsp;&amp; Trust has a lending relationship with an affiliate of John Hendricks,
our Chairman and the founder of Legacy CuriosityStream. Further, Patrick Keeley, a Stifel employee, is a member of our Board.
In addition, Mr. Keeley and certain other Stifel employees are stockholders in CuriosityStream, and Stifel is a corporate customer
of CuriosityStream. </P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">On June 25, 2019, the
Sponsor agreed to loan SAQN an aggregate of up to $300,000 to cover expenses related to the IPO pursuant to a promissory note (the
&ldquo;Note&rdquo;). The Note was non-interest bearing and payable on the earlier of December 31, 2019 or the completion of the
IPO. The borrowings outstanding under the Note of $235,540 were repaid upon the consummation of the IPO on November 22, 2019.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In order to fund working
capital deficiencies or finance transaction costs in connection with the Merger, the Sponsor, or certain of our officers and directors
or their affiliates could have, but were not obligated to, loan us funds as may be required, which would be repaid only upon the
completion of the Merger. In the event that the Merger did not close, SAQN could have used a portion of the working capital held
outside the Trust Account to repay such loaned amounts but no proceeds from the Trust Account would be used for such repayment.
Up to $1,500,000 of such loans could have been convertible into warrants identical to the Private Placement Warrants, at a price
of $1.00 per warrant at the option of the lender.</P>

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

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

<!-- Field: Page; Sequence: 68; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->58<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->



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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> SAQN entered into
an agreement whereby, commencing on November 19, 2019 through the earlier of SAQN&rsquo;s consummation of a business combination
and liquidation, SAQN would pay the Sponsor a total of $10,000 per month for office space, utilities and secretarial and administrative
support. For the three and nine months ended September 30, 2020, SAQN incurred $30,000 and $90,000 in fees for these services,
of which $105,000 and $15,000 is included in accrued expenses in the accompanying condensed balance sheets as of September 30,
2020 and December 31, 2019, respectively. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> &nbsp; </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> We entered into
employment agreements with certain of our named executive officers in connection with the Business Combination. See &ldquo;Executive
Compensation.&rdquo; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> &nbsp; </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> We have entered
into separate indemnification agreements with each of our directors and executive officers. We have also purchased directors&rsquo;
and officers&rsquo; liability insurance. See &ldquo;Description of Securities&nbsp;&mdash;&nbsp;Limitations on Liability and Indemnification
of Officers and Directors<I>.</I>&rdquo; </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Procedures with Respect to Review and Approval of Related
Person Transactions</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We have adopted a formal
written policy for the review and approval of transactions with related persons. Such policy requires, among other things, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">any related person transaction, and any material amendment
or modification to a related person transaction, must be reviewed and approved or ratified by an approving body comprised of the
disinterested and independent members of the Board or any committee of the Board, provided that a majority of the members of the
Board or such committee, respectively, are disinterested; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">any employment relationship or transaction involving
an executive officer and any related compensation must be approved by the compensation committee of the Board or recommended by
the compensation committee to the Board for its approval.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In connection with the
review and approval or ratification of a related person transaction:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">management must disclose to the approving body the
name of the related person and the basis on which the person is a related person, the related person&rsquo;s interest in the transaction,
the material terms of the related person transaction, including the business purpose of the transaction, the approximate dollar
value of the amount involved in the transaction, the approximate dollar value of the amount of the related person&rsquo;s interest
in the transaction and all the material facts as to the related person&rsquo;s direct or indirect interest in, or relationship
to, the related person transaction;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">management must advise the approving body as to whether
the related person transaction complies with the terms of our agreements, including the agreements governing our material outstanding
indebtedness, that limit or restrict our ability to enter into a related person transaction;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">management must advise the approving body as to whether
the related person transaction will be required to be disclosed in applicable filings under the Securities Act or the Exchange
Act, and related rules, and, to the extent required to be disclosed, management must ensure that the related person transaction
is disclosed in accordance with such statutes and related rules; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">management must advise the approving body as to whether
the related person transaction may constitute a &ldquo;personal loan&rdquo; for purposes of Section&nbsp;402 of the Sarbanes-Oxley
Act.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In addition, the related
person transaction policy provides that the approving body, in connection with any approval of a related person transaction involving
a non-employee director or director nominee, should consider whether such transaction would compromise the director or director
nominee&rsquo;s status as an &ldquo;independent&rdquo; or &ldquo;non-employee&rdquo; director, as applicable, under the rules and
regulations of the SEC and any exchange on which our securities are listed.</P>

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

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

<!-- Field: Page; Sequence: 69; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_019"></A>EXECUTIVE COMPENSATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <I>The following
disclosure concerns the compensation of the Company&rsquo;s named executive officers for the fiscal year ended December 31, 2019
(pre-Business Combination with respect to Legacy CuriosityStream) and December 31, 2020 (pre-Business Combination with respect
to Legacy CuriosityStream and post-Business Combination with respect to the Company).</I> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> <FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Prior to the consummation
of the Business Combination, none of SAQN&rsquo;s executive officers or directors received any cash compensation for services
rendered to SAQN. SAQN reimbursed the Sponsor for office space, secretarial and administrative services provided in an amount
not to exceed $10,000 per month. In addition, the Sponsor, our executive officers, directors and their respective affiliates were
reimbursed for out-of-pocket expenses related to identifying and conducting due diligence related to the Business Combination.
Our audit committee reviewed on a quarterly basis all payments that were made to the Sponsor, our executive officers, directors
and our or their affiliates. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> <FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> <I>The following
summary compensation table covers the material components of the compensation for the Company&rsquo;s named executive officers
for the fiscal years ended December 31, 2019 (pre-Business Combination with respect to Legacy CuriosityStream) and December 31,
2020 (pre-Business Combination with respect to Legacy CuriosityStream and post-Business Combination with respect to the Company).</I> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold"> Name and Principal Position </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Year </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Salary <BR> ($) </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Bonus <BR> ($) </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Stock
    <BR> Awards <BR> ($)<SUP>(2)</SUP></B></FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Option <BR> Awards <BR>
    ($) </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <SUP>&nbsp;</SUP> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Nonequity <BR> Incentive
    <BR> Plan <BR> Compensation <BR> ($) </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>All
    Other <BR> Compensation <BR> ($)<SUP>(6)</SUP></B></FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Total <BR> ($) </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 26%; text-align: left; text-indent: -10pt; padding-left: 10pt"> Clint Stinchcomb, </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 10%; text-align: center"> 2020 </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 6%; text-align: right"> 410,455 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 6%; text-align: right"> &mdash; </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 6%; text-align: right"> 1,541,699 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 6%; text-align: right"> 11,261,905 </TD><TD STYLE="width: 1%; text-align: left"> <SUP>(3)</SUP> </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 6%; text-align: right"> 410,455 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 6%; text-align: right"> 11,400 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 6%; text-align: right"> 13,635,914 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt"> President and Chief <BR> Executive Officer </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> 2019 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 390,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 1,532,013 </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 390,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 24,865 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 2,336,878 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt"><SUP>&nbsp;</SUP></FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Tia Cudahy, </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> 2020 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 290,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 116,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 11,400 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 417,400 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt"> Chief Operating Officer, General Counsel and Secretary </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> 2019 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 331,666 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 505,496 </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 116,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 13,833 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 966,995 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt"><SUP>&nbsp;</SUP></FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Jason Eustace, </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> 2020 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 253,750 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 30,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 237,071 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 743,986 </TD><TD STYLE="text-align: left"> <SUP>(4)</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 74,313 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 6,767 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 1,345,887 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Financial Officer and Treasurer<SUP>(1)</SUP></FONT> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> 2019 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt"><SUP>&nbsp;</SUP></FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Devin Emery, </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> 2020 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 250,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 273,315 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 386,986 </TD><TD STYLE="text-align: left"> <SUP>(5)</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 62,500 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 54,569 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 1,027,370 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt"> Head of Growth </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> 2019 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 41,667 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 113,340 </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 10,417 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 36 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 165,460 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (1) </TD><TD STYLE="text-align: justify"> Jason K. Eustace
                                         was hired in February 2020 as the Chief Financial Officer and Treasurer of Legacy CuriosityStream. </TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (2) </TD><TD STYLE="text-align: justify"> The amounts reported
                                         in this column for fiscal 2020 were calculated in accordance with Financial Accounting
                                         Standards Board Accounting Standards Codification Topic 718-Stock Compensation. The fair
                                         value of restricted stock is determined based on the closing price of Common Stock on
                                         the grant date of November 5, 2020, which was $9.21. These amounts also include the grant
                                         date fair value of stock options issued during fiscal 2020 that were subsequently cancelled
                                         and replaced with grants of restricted stock on November 5, 2020. This cancellation and
                                         replacement of awards was treated as a modification for accounting purposes with no resulting
                                         incremental compensation cost. </TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (3) </TD><TD STYLE="text-align: justify"> The amounts reflect
                                         the grant date fair value of the options granted to Clint Stinchcomb in 2020 in accordance
                                         with Financial Accounting Standards Board Accounting Standards Codification Topic 718-Stock
                                         Compensation and using the following assumptions used as input for the Black-Scholes
                                         calculation: (i) for Mr. Stinchcomb&rsquo;s grant of 2,038,570 stock options on November
                                         2, 2020, grant date stock price of $8.77, exercise price of $8.77, stock price volatility
                                         of 60% based on peer group analysis, 0% dividend yield, expected term of 6.25 years,
                                         using the simplified method, and a discount rate of 0.54% based on the expected term
                                         duration; and (ii) for Mr. Stinchcomb&rsquo;s grant of 355,500 Premium Priced Stock Options
                                         on November 2, 2020, grant date stock price of $8.77, exercise price of $11.50, stock
                                         price volatility of 60% based on peer group analysis, 0% dividend yield, expected term
                                         of 5 years, and a discount rate of 0.38% based on the expected term duration. </TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (4) </TD><TD STYLE="text-align: justify"> The amounts reflect
                                         the grant date fair value of the options granted to Jason Eustace in 2020 in accordance
                                         with Financial Accounting Standards Board Accounting Standards Codification Topic 718-Stock
                                         Compensation and using the following assumptions used as input for the Black-Scholes
                                         calculation: (i) for Mr. Eustace&rsquo;s grant of 94,678 stock options (as adjusted pursuant
                                         to the terms of the Merger Agreement; original grant was 150,000 stock options of Legacy
                                         CuriosityStream) on February 17, 2020, as of the grant date (prior to the Business Combination),
                                         grant date stock price of $3.71, exercise price of $3.71, stock price volatility of 60%
                                         based on peer group analysis, 0% dividend yield, expected term of 6.25 years, using the
                                         simplified method, and a discount rate of 1.48% based on the expected term duration,
                                         and (ii)&nbsp;for Mr. Eustace&rsquo;s grant of 101,571 Premium Priced Stock Options on
                                         November 2, 2020, grant date stock price of $8.77, exercise price of $11.50, stock price
                                         volatility of 60% based on peer group analysis, 0% dividend yield, expected term of 5
                                         years, and a discount rate of 0.38% based on the expected term duration. </TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (5) </TD><TD STYLE="text-align: justify"> The amount reflects
                                         the grant date fair value of the options granted to Devin Emery in 2020 in accordance
                                         with Financial Accounting Standards Board Accounting Standards Codification Topic 718-Stock
                                         Compensation and using the following assumptions used as input for the Black-Scholes
                                         calculation: for Mr. Emery&rsquo;s grant of 101,571 Premium Priced Stock Options on November
                                         2, 2020, grant date stock price of $8.77, exercise price of $11.50, stock price volatility
                                         of 60% based on peer group analysis, 0% dividend yield, expected term of 5 years, and
                                         a discount rate of 0.38% based on the expected term duration. </TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (6) </TD><TD STYLE="text-align: justify"> Includes company
                                         contributions to the Legacy CuriosityStream 401(k) plan for each executive and, for Devin
                                         Emery in 2020, housing payments in an amount equal to $46,236. </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></P>

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

<!-- Field: Page; Sequence: 70; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Hiring and retaining
officers and other key employees was critically important to ensuring continuity and stability in order to grow Legacy CuriosityStream&rsquo;s
business. In the evolving and competitive business environment, Legacy CuriosityStream was continually developing and refining
its service while identifying and capitalizing on potential business opportunities. Legacy CuriosityStream recognized that its
success was in large part dependent on its ability to attract and retain talented employees. Therefore, the Legacy CuriosityStream
executive compensation and benefits program was designed to attract, retain, and incentivize a highly talented and committed team
of executive officers who share its vision and desire to work toward its goals. At the same time, as a private company, its ability
to provide cash compensation was limited by the needs of the business. </P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Legacy CuriosityStream
executive compensation process reflected its stage of development as a company. Its initial compensation for newly hired executive
officers generally reflected the outcome of a negotiated recruitment and hiring process in light of compensation with prior employers
or other possible opportunities at the time of hiring. Therefore, some differences in compensation among Legacy CuriosityStream&rsquo;s
executive officers reflect the timing and circumstances of hiring. The board of directors of Legacy CuriosityStream determined
compensation for its executive officers. The manager&rsquo;s subjective analysis of appropriate payments, taking into account
economic and business conditions, experience, internal pay equity and individual negotiations, historically was the most important
factor in setting compensation. </P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <I>Base Salary.&nbsp;</I>As
a private company, Legacy CuriosityStream executive officers&rsquo; base salaries were determined primarily based on the experience
of the manager with hiring similarly situated executive officers, the manager&rsquo;s view of appropriate fixed pay for the geographic
location, and Legacy CuriosityStream&rsquo;s desire to limit cash expenses while it built the business. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <I>Annual Incentive
Bonuses.&nbsp;</I>As a private company, Legacy CuriosityStream believed a cash bonus program allowed it to retain
flexibility to conserve cash while rewarding results as it determined to be appropriate. The executive officers were eligible
for cash bonuses tied to achievement of our 2020 revenue goals. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <I>Success Fees.&nbsp;</I>Certain
of Legacy CuriosityStream&rsquo;s employees were eligible for &ldquo;success fees&rdquo; based on closing, launching and the achievement
of certain subscribership levels under specified distribution agreements. In 2019, success fees were paid quarterly for milestones
achieved during the previous quarter. Beginning in 2020, Legacy CuriosityStream implemented annual bonus plans tied to revenue
goals for the same group of employees previously eligible for quarterly success fees. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <I>Equity Awards.&nbsp;</I>In
October&nbsp;2018, Legacy CuriosityStream adopted its Stock Option Plan in order to provide for the grant of equity-based awards
to its employees, non-employee directors, consultants and independent contractors. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> <I>Retirement and
Other Benefits.&nbsp;</I>Legacy CuriosityStream&rsquo;s named executive officers and key employees were eligible
to participate in its employee benefit plans provided for other employees. These benefits included a 401(k) plan, life insurance,
group health insurance and short-and long-term disability insurance. Legacy CuriosityStream did not have a defined benefit retirement
plan. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Legacy CuriosityStream
previously entered into a Compensation Plan with Clint Stinchcomb on October 11, 2018, which was subject to the successful completion
of Legacy CuriosityStream&rsquo;s private stock offering and which took effect on the day after the closing of the offering. Under
this compensation plan, Mr. Stinchcomb&rsquo;s annual base salary was $390,000. He was eligible for an annual cash bonus with
a maximum bonus potential of 100% of base salary, subject to achievement of goals in the Legacy CuriosityStream&rsquo;s annual
bonus plan and as agreed to by the Board of Directors of Legacy CuriosityStream each year. Mr. Stinchcomb&rsquo;s compensation
plan provided for the grant of options to purchase 980,000 shares of Legacy CuriosityStream equity, as have described below. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In connection with
the Merger and effective as of the closing, CuriosityStream and Clint Stinchcomb entered into an employment agreement under which
he serves as Chief Executive Officer of CuriosityStream from the closing for an initial term of four years, subject to automatic
renewal for an additional one-year period. The employment agreement is described in &ldquo;&mdash;&nbsp;The Company, Post-Business
Combination&nbsp;&mdash; Compensation of Officers&nbsp;&mdash; Employment Agreements&nbsp;&mdash; Clint Stinchcomb&rdquo; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 71; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->61<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Legacy CuriosityStream
entered into a compensation plan with Tia Cudahy on October 11, 2018, which was subject to the successful completion of Legacy
CuriosityStream&rsquo;s private stock offering and which took effect on the day after the closing of the offering. Under this
compensation plan, Ms.&nbsp;Cudahy&rsquo;s annual base salary was to be $340,000 and her annual cash bonus was to be a maximum
amount of 30% of her base salary. In January&nbsp;2019, the Legacy CuriosityStream decided to pay Ms.&nbsp;Cudahy an annual base
salary of $290,000 with the understanding Ms.&nbsp;Cudahy was to be paid $50,000 through November 20, 2019 by Hendricks Investment
Holdings, LLC (&ldquo;HIH&rdquo;), an Affiliate of HFM, for completion and transition of her duties for HIH, as well as an annual
cash bonus with a maximum bonus potential of 40% of base salary, subject to achievement of goals in the Legacy CuriosityStream&rsquo;s
annual bonus plan and as agreed to by the Board of Directors of Legacy CuriosityStream each year. Ms.&nbsp;Cudahy&rsquo;s compensation
plan provided for the grant of options to purchase 420,000 shares of Legacy CuriosityStream equity, which we have described below. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Material Terms of Pre-Business Combination
Stock Option Grants</B> </P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Clint Stinchcomb
received several grants of stock options issued under and subject to the terms and conditions of the Legacy CuriosityStream Inc.
Stock Option Plan described below. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> On October 16, 2018,
the Legacy CuriosityStream board approved certain option grants, with a per share exercise price of $10.00 per share. These options
were granted as of November 20, 2018. Legacy CuriosityStream performed a valuation that determined that the fair market value
of Legacy CuriosityStream&rsquo;s Common Stock was $2.55 as of November 20, 2018, and that the options approved in October&nbsp;2018
did not reflect the fair market value of the Common Stock as of the November 20, 2018 grant date. The board approved the repricing
to reflect the fair market value of the Common Stock and approved a per share exercise price of these options of $2.55 (the &ldquo;2019
Repricing&rdquo;). Mr. Stinchcomb was, therefore, granted an option on November 20, 2018 to purchase 980,000 shares of Common
Stock of Legacy CuriosityStream with an exercise price of $2.55. The option vests over the first four anniversaries of the grant
date, with 25% vesting on each anniversary (the third and fourth installments originally vested on the later of the third anniversary
of the initial award date or the Legacy CuriosityStream achievement of $175 million in annual revenue and the later of the fourth
anniversary of the initial award date or the Legacy CuriosityStream achievement of $225 million in annual revenue, respectively;
these performance conditions were waived in the third quarter of 2020). As a result of the conversion of stock options in connection
with the Merger described in &ldquo;&mdash;&nbsp;Treatment of Stock Options in Transaction,&rdquo; this was converted into an
option to purchase 618,561 shares of Common Stock of the Company with an exercise price of $4.04 per share. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> On January 30, 2019,
Mr. Stinchcomb was granted an option to purchase 25,455 shares of Legacy CuriosityStream Common Stock at an exercise price of
$2.55. The options vest and become exercisable in four equal installments on each of the first four anniversaries of the grant
date (January 30, 2020, January 30, 2021, January 30, 2022 and January 30, 2023), subject to Mr. Stinchcomb&rsquo;s continued
employment on the applicable vesting date. As a result of the conversion described in &ldquo;&mdash;&nbsp;Treatment of Stock Options
in Transaction,&rdquo; this was converted into an option to purchase 16,067 shares of Common Stock of the Company with an exercise
price of $4.04 per share. On August 2, 2019, Mr. Stinchcomb was granted an option to purchase 500,000 shares of Legacy CuriosityStream
Common Stock at an exercise price of $2.65. The options vest and become exercisable in four equal installments on each of the
first four anniversaries of the grant date (August 2, 2020, August 2, 2021, August 2, 2022 and August 2, 2023), subject to Mr.
Stinchcomb&rsquo;s continued employment on the applicable vesting date. As a result of the conversion of stock options in connection
with the Merger described in &ldquo;&mdash;&nbsp;Treatment of Stock Options in Transaction,&rdquo; this was converted into an
option to purchase 315,593 shares of Common Stock with an exercise price of $4.20 per share. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Under these stock
option grants, if Mr. Stinchcomb&rsquo;s service with Legacy CuriosityStream is terminated other than for cause at any time during
the six (6)&nbsp;month period after a &ldquo;change in control&rdquo; (as defined in therein), the stock options will immediately
become fully vested and exercisable. Under the terms set forth in the option agreements prior to the business combination, if
Mr. Stinchcomb&rsquo;s employment is terminated, the shares subject to the options will be subject to CuriosityStream&rsquo;s
right to repurchase the shares at the fair market value of the shares on the date of repurchase. The stock options are subject
to forfeiture if Mr. Stinchcomb violates the Legacy CuriosityStream standards of conduct. </P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Tia Cudahy received
two grants of stock options issued under and subject to the terms and conditions of the Legacy CuriosityStream Inc. Stock Option
Plan described below. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Ms.&nbsp;Cudahy
was granted an option on November 20, 2018 to purchase 420,000 shares of Common Stock of Legacy CuriosityStream with an exercise
price of $2.55 due to the 2019 Repricing. The option vests over the first four anniversaries of the grant date, with 25% vesting
on each anniversary (the third and fourth installments originally vested on the later of the third anniversary of the initial
award date or the Legacy CuriosityStream achievement of $175 million in annual revenue and the later of the fourth anniversary
of the initial award date or the Legacy CuriosityStream achievement of $225 million in annual revenue, respectively; these performance
conditions were waived in the third quarter of 2020). As a result of the conversion of stock options in connection with the Merger
described in &ldquo;&mdash;&nbsp;Treatment of Stock Options in Transaction,&rdquo; this was converted into an option to purchase
265,098 shares of Common Stock of the Company with an exercise price of $4.04. </P>

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

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

<!-- Field: Page; Sequence: 72; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->62<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> On August 2, 2019,
Ms.&nbsp;Cudahy was granted an option to purchase 125,000 shares of Legacy CuriosityStream Common Stock at an exercise price of
$2.65. The options vest and become exercisable in four equal installments on each of the first four anniversaries of the grant
date (August 2, 2020, August 2, 2021, August 2, 2022 and August 2, 2023), subject to Ms.&nbsp;Cudahy&rsquo;s continued employment
on the applicable vesting date. As a result of the conversion of stock options in connection with the Merger described in &ldquo;&mdash;&nbsp;Treatment
of Stock Options in Transaction,&rdquo; this was converted into an option to purchase 78,899 shares of Company Common Stock with
an exercise price of $4.20. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Under these stock
option grants, if Ms.&nbsp;Cudahy&rsquo;s service with Legacy CuriosityStream is terminated other than for cause at any time during
the six (6)&nbsp;month period after a &ldquo;change in control&rdquo; (as defined in therein), the stock options will immediately
become fully vested and exercisable. Under the terms set forth in the option agreements prior to the business combination, if
Ms.&nbsp;Cudahy&rsquo;s employment is terminated, the shares subject to option will be subject to Legacy CuriosityStream&rsquo;s
right to repurchase the shares at the fair market value of the shares on the date of repurchase. The stock options are subject
to forfeiture if Ms.&nbsp;Cudahy violates the Legacy CuriosityStream standards of conduct. </P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Devin Emery received
a grant of stock options issued under and subject to the terms and conditions of the Legacy CuriosityStream Inc. Stock Option
Plan described below. Mr. Emery was granted an option on November 11, 2019 to purchase 75,000 shares of Common Stock of Legacy
CuriosityStream with an exercise price of $3.71. The options vest and become exercisable in four equal installments on each of
the first four anniversaries of the grant date (November 11, 2020, November 11, 2021, November 11, 2022 and November 11, 2023),
subject to Mr. Emery&rsquo;s continued employment on the applicable vesting date. As a result of the conversion of stock options
in connection with the Merger described in &ldquo;&mdash;&nbsp;Treatment of Stock Options in Transaction,&rdquo; this was converted
into an option to purchase 47,339 shares of Company Common Stock with an exercise price of $4.20. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Under this stock
option grant, if Mr. Emery&rsquo;s service with Legacy CuriosityStream is terminated other than for cause at any time during the
six (6)&nbsp;month period after a &ldquo;change in control&rdquo; (as defined in therein), the stock options will immediately
become fully vested and exercisable. Under the terms set forth in the option agreements prior to the business combination, if
Mr. Emery&rsquo;s employment is terminated, the shares subject to option will be subject to Legacy CuriosityStream&rsquo;s right
to repurchase the shares at the fair market value of the shares on the date of repurchase. The stock options are subject to forfeiture
if Mr. Emery violates the Legacy CuriosityStream standards of conduct. </P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Jason Eustace received
a grant of stock options issued under and subject to the terms and conditions of the Legacy CuriosityStream Inc. Stock Option
Plan described below. Mr. Eustace was granted an option on February 17, 2020 to purchase 150,000 shares of Common Stock of Legacy
CuriosityStream with an exercise price of $3.71. The options vest and become exercisable in four equal installments on each of
the first four anniversaries of the grant date (February 17, 2021, February 17, 2022, February 17, 2023 and February 17, 2024),
subject to Mr. Eustace&rsquo;s continued employment on the applicable vesting date. As a result of the conversion of stock options
in connection with the Merger described in &ldquo;&mdash;&nbsp;Treatment of Stock Options in Transaction,&rdquo; this was converted
into an option to purchase 94,678 shares of Company Common Stock with an exercise price of $5.88. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Under this stock
option grant, if Mr. Eustace&rsquo;s service with Legacy CuriosityStream is terminated other than for cause at any time during
the six (6)&nbsp;month period after a &ldquo;change in control&rdquo; (as defined in therein), the stock options will immediately
become fully vested and exercisable. Under the terms set forth in the option agreements prior to the business combination, if
Mr. Eustace&rsquo;s employment is terminated, the shares subject to option will be subject to Legacy CuriosityStream&rsquo;s right
to repurchase the shares at the fair market value of the shares on the date of repurchase. The stock options are subject to forfeiture
if Mr. Eustace violates the Legacy CuriosityStream standards of conduct. </P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <I>The following
disclosure covers the material components of the compensation for the Company&rsquo;s named executive officers in fiscal year
2020 following the Merger.</I> </P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> For information
concerning the executive officers and directors of the Company, including biographical information, see the &ldquo;Management&rdquo;
section above. </P>

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

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

<!-- Field: Page; Sequence: 73; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->63<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Following the Closing
of the Merger, the Company&rsquo;s executive compensation program is consistent with Legacy CuriosityStream&rsquo;s existing compensation
policies and philosophies, which are designed to: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">attract,
                                         retain and motivate senior management leaders who are capable of advancing our mission
                                         and strategy and ultimately, creating and maintaining our long-term equity value. Such
                                         leaders must engage in a collaborative approach and possess the ability to execute our
                                         business strategy in an industry characterized by competitiveness and growth;</FONT> </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reward
                                         senior management in a manner aligned with our financial performance; and</FONT> </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">align
                                         senior management&rsquo;s interests with our equity owners&rsquo; long-term interests
                                         through equity participation and ownership.</FONT> </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 48pt; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Following the
Closing of the Merger, decisions with respect to the compensation of our executive officers, including our named executive officers,
are made by our board of directors and the compensation committee of our board of directors. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Compensation for
our executive officers has the following components: base salary, cash bonus opportunities, long-term incentive compensation,
broad-based employee benefits, and severance benefits. Base salaries, broad-based employee benefits, and severance benefits are
designed to attract and retain senior management talent. We also use annual cash bonuses and long-term equity awards to promote
performance-based pay that aligns the interests of our named executive officers with the long-term interests of our equity-owners
and to enhance executive retention. </P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Mr. Stinchcomb&rsquo;s
salary is set forth in his employment agreement, described below, for the term of the agreement. Other named executive officers&rsquo;
base salaries in effect prior to the Merger have continued as described under &ldquo;Executive Compensation&nbsp;&mdash; CuriosityStream,&rdquo;
subject to adjustments made in connection with the compensation committee&rsquo;s annual review of the named executive officers&rsquo;
base salaries. </P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Mr. Stinchcomb&rsquo;s
annual bonus is set forth in his employment agreement, described below, for the term of the agreement. The Company uses annual
cash incentive bonuses for the named executive officers to motivate their achievement of short-term performance goals and tie
a portion of their cash compensation to performance. Near the beginning of each year, the compensation committee selects the performance
targets, target amounts, target award opportunities and other terms and conditions of annual cash bonuses for the named executive
officers, subject to the terms of their employment agreements. Following the end of each year, the compensation committee will
determine the extent to which the performance targets were achieved and the amount of the award that is payable to the named executive
officers. </P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company uses
stock-based awards to promote our interests by providing these executives with the opportunity to acquire equity interests as
an incentive for their remaining in our service and aligning the executives&rsquo; interests with those of the company&rsquo;s
equity holders. Stock-based awards are awarded under the Omnibus Incentive Plan, which has been adopted by the Company&rsquo;s
board of directors and was approved by the Company&rsquo;s stockholders on October 12, 2020. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> On November 2,
2020, the compensation committee approved certain equity incentive grants to executive officers and other employees of the Company. </P>

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

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

<!-- Field: Page; Sequence: 74; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->64<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In connection
with the consummation of the Merger, 711,000 warrants to purchase the Company&rsquo;s common stock held by Software Acquisition
Holdings LLC were forfeited. The forfeited warrants had an exercise price of $11.50 per share, and a five year term. In connection
with such forfeiture and pursuant to the Merger Agreement, certain employees of the Company selected by the compensation committee
received fully vested options exercisable for shares of common stock with an exercise price of $11.50 (or the fair market value
on the date of grant, if higher) and with a five year term. On November 2, 2020, the compensation committee approved the following
option grants to the executive officers: 355,500 options for Mr. Clint Stinchcomb, 101,571 option for Mr. Jason Eustace and 101,571
options for Mr. Devin Emery. As provided in the Merger Agreement, the options are fully vested, have an exercise price of $11.50
per share, and have a five year term. At the end of fiscal year 2020, there remained 152,358 of these options which the compensation
committee could grant to other employees of the Company. The options are subject to terms and conditions of the Omnibus Incentive
Plan and an option agreement. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The compensation
committee also approved grants of restricted stock units to employees of the Company, including certain executive officers, as
of November 5, 2020. The restricted stock units for the executive officers will vest as to 25% of the award on each of the first
four anniversaries of the grant date, provided the grantee remains employed by the Company or its subsidiaries through such vesting
date, with settlement on the vesting date or within 30&nbsp;days thereafter. The restricted stock units are subject to the terms
and conditions of the Omnibus Incentive Plan and a restricted stock unit agreement. The compensation committee approved the following
restricted stock unit grants to executive officers: 73,458 restricted stock units for Mr. Clint Stinchcomb, 25,031 restricted
stock units for Mr. Jason Eustace and 27,548 restricted stock units for Mr. Devin Emery. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Pursuant to the
employment agreement with Mr. Stinchcomb, following the Merger, the Company granted Mr. Stinchcomb options and restricted stock
units. These equity grants, when taken together with the stock options previously issued to Mr. Stinchcomb and equity awards otherwise
granted to Mr. Stinchcomb in connection with the merger (such as the options and restricted stock units described above), entitled
Mr. Stinchcomb to approximately 5.9% of the Company&rsquo;s common stock, calculated on a fully diluted basis on the closing date.
If Mr. Stinchcomb&rsquo;s employment is terminated without &ldquo;cause&rdquo; or he resigns for &ldquo;good reason,&rdquo; or
dies or becomes disabled, the unvested equity awards shall become vested. On November 2, 2020, the compensation committee approved
a grant of 2,038,570 stock options for Mr. Stinchcomb. The stock options have an exercise price of $8.77, which was the closing
price on the grant date, and have a ten-year term. The stock options will vest as to 25% of the award on each of the first four
anniversaries of the grant date, provided Mr. Stinchcomb remains employed by the Company or its subsidiaries through such vesting
date, and provided further that, if Mr. Stinchcomb&rsquo;s employment is terminated without &ldquo;cause&rdquo; or he resigns
for &ldquo;good reason,&rdquo; or dies or becomes disabled, the unvested stock options will become vested. The stock options are
subject to the terms and conditions of the Omnibus Incentive Plan and a stock option agreement. The compensation committee also
approved grants of 88,263 restricted stock units for Mr. Stinchcomb, as of November 5, 2020. The restricted stock units will vest
as to 25% of the award on each of the first four anniversaries of the grant date, provided Mr. Stinchcomb remains employed by
the Company or its subsidiaries through such vesting date, and provided further that, if Mr. Stinchcomb&rsquo;s employment is
terminated without &ldquo;cause&rdquo; or he resigns for &ldquo;good reason,&rdquo; or dies or becomes disabled, the unvested
restricted stock units will become vested. Settlement would be on the vesting date or within 30&nbsp;days thereafter. The restricted
stock units are subject to the terms and conditions of the Omnibus Incentive Plan and a restricted stock unit agreement. </P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The description
below concerning terms and provisions of the Omnibus Incentive Plan is a summary and does not purport to be a complete recitation
of the Omnibus Incentive Plan provisions. Such statements are qualified in their entirety by express reference to the full text
of the Omnibus Incentive Plan. A copy of the Omnibus Incentive Plan is filed herewith. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Administration</I></FONT>.&nbsp;Unless
otherwise determined by the board of directors of the Company, the compensation committee of the board of directors has the power
and authority to administer the Omnibus Incentive Plan, including, but not limited to, the recipients of the awards, the type
or types of awards, the number of shares subject to each award and the vesting schedule and exercisability of the awards. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Awards</I></FONT>.&nbsp;Awards
under the Omnibus Incentive Plan may be made in the form of performance awards, restricted stock, restricted stock units, stock
options, which may be either incentive stock options or non-qualified stock options, stock appreciation rights, other stock-based
awards and dividend equivalents. Employees, non-employee directors, and consultants of the Company and its subsidiaries will be
eligible to participate in the Omnibus Incentive Plan, as determined by the Compensation Committee. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Shares
Subject to the Omnibus Incentive Plan</I></FONT>.&nbsp;Subject to adjustment, as described below, a total number
of shares of our common stock equal to approximately 13% (on a fully-diluted basis) of the shares of our common stock that are
outstanding as of immediately following the consummation of the transactions contemplated by the Merger Agreement will be available
for awards under the Omnibus Incentive Plan. All of such awards may be in the form of incentive stock options. Shares issued under
the Omnibus Incentive Plan may be authorized but unissued shares or reacquired shares. Any shares covered by an award, or portion
of an award, granted under the Omnibus Incentive Plan that is forfeited, cancelled, cash-settled, expired or otherwise terminated
without the issuance of shares, shall again be available for the grant of an award under the Omnibus Incentive Plan. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Award
Limitations on Non-Employee Director Awards</I></FONT>.&nbsp;The maximum number of shares subject to awards
granted during a single compensation year (that is from one annual meeting of stockholders to the next annual meeting) to any
non-employee director, taken together with any cash fees paid during the compensation year to the non-employee director, in respect
of the director&rsquo;s service as a member of the Board during such year (including service as a member or chair of any committees
of the Board), will not exceed $500,000 in total value. </P>

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

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

<!-- Field: Page; Sequence: 75; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->65<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Change
in Capitalization or Other Corporate Event</I></FONT>.&nbsp;If and to the extent necessary or appropriate to
reflect any stock dividend, extraordinary dividend, stock split or share combination or any recapitalization, merger, consolidation,
exchange of shares, spin-off, liquidation or dissolution of the Company or other similar transaction affecting our common stock,
our Compensation Committee shall adjust the number of shares of common stock available for issuance under the Omnibus Incentive
Plan, and the number, class&nbsp;and exercise price or base price of any outstanding award, and/or make such substitution, revision
or other provisions or take such other actions with respect to any outstanding award or the holder thereof, in each case as it
determines to be equitable. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Options</I></FONT>.&nbsp;The
Omnibus Incentive Plan permits the grant of incentive stock options. An option granted will be exercisable only to the extent
that it is vested on the date of exercise. In general, the exercise price per share under each option granted under the Omnibus
Incentive Plan may not be less than 100% of the fair market value of our common stock on the option grant date (or 110% of the
fair market value in the case of an incentive stock option granted to an individual who, on the date of grant, owns or is deemed
to own shares representing more than 10% of our voting stock). For so long as our common stock is listed on an established stock
exchange, the fair market value of the common stock will be the closing price of our common stock on the exchange on which it
is listed on the option grant date. If there is no closing price reported on the option grant date, the fair market value will
be deemed equal to the closing price for the common stock on the last market trading day prior to the day of determination. The
term of any option award may not be longer than ten years (or five years in the case of an incentive stock option granted to a
10% stockholder). </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Stock
Appreciation Rights</I></FONT>.&nbsp;A &ldquo;stock appreciation right&rdquo; (or a &ldquo;SAR&rdquo;) is the
right to receive payment from the Company in cash and/or shares of common stock equal to the product of (i)&nbsp;the excess, if
any, of the fair market value of one (1)&nbsp;share of our common stock on the exercise date over a specified price fixed by the
Compensation Committee on the grant date (which price may not be less than the fair market value of a share of our common stock
on the grant date), multiplied by (ii)&nbsp;a stated number of shares of common stock. A SAR will be exercisable only to the extent
that it is vested on the date of exercise. No SAR may be exercisable more than ten years from the grant date. SARs may be granted
to participants in tandem with options or on their own. Tandem SARs will generally have substantially similar terms and conditions
as the options with which they are granted. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Restricted
Stock and Restricted Stock Units</I></FONT>.&nbsp;Subject to the provisions of the Omnibus Incentive Plan, the
Compensation Committee may determine the terms and conditions of each award of restricted stock or restricted stock units, including
the restriction period for the award, and the restrictions applicable to the award. Restricted stock and restricted stock units
will vest based on a minimum period of service or the occurrence of events specified by the Compensation Committee. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Performance
Awards</I></FONT>.&nbsp;A &ldquo;performance award&rdquo; is a contractual right to receive shares of our common
stock or a U.S.-denominated amount of cash that is earned (in whole or in part) based on the achievement of specified performance
goals. Vested performance awards may be settled in cash, stock or a combination of cash and stock, at the discretion of the Compensation
Committee. Performance awards will vest based on the achievement of predetermined performance goals established by the Compensation
Committee. The committee may adjust the performance goals for any performance cycle as it deems equitable. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Other
Stock-Based Awards</I></FONT>.&nbsp;The Compensation Committee may make other equity-based or equity-related
awards not otherwise described by the terms of the Omnibus Incentive Plan. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Dividend
Equivalents</I></FONT>.&nbsp;A dividend equivalent is the right to receive payments in cash or in stock, based
on dividends with respect to shares of stock. Dividend equivalents may be granted to participants in tandem with another award
or on their own, but not in respect of stock options or SARs. In general, dividend equivalents will be paid to participants with
respect to an award when the award becomes vested. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Termination
of Employment</I></FONT>.&nbsp;All of the terms relating to the exercise, cancellation or other disposition
of any award upon a termination of employment or service with the Company of the participant, whether due to disability, death
or under any circumstances may be determined by the Compensation Committee and described in each participant&rsquo;s award agreement.
Unless otherwise set forth in the applicable agreement, the following provisions will&nbsp;apply: </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Termination
for Cause; Post-Service Competitive Activity</I></FONT>.&nbsp;&nbsp;If a participant&rsquo;s employment or service
terminates for cause or a participant breaches any restrictive covenants (such as a non-competition or non-solicitation agreement)
following the participant&rsquo;s termination of employment or service, all options and SARs, whether vested or unvested, and
all other awards that are unvested or unexercisable or otherwise unpaid (or were unvested or unexercisable or unpaid at the time
of occurrence of cause or such breach) will be immediately forfeited and cancelled. If the participant breaches the restrictive
covenants following the termination, any portion of the participant&rsquo;s awards that became vested after termination, and any
shares or cash issued upon exercise or settlement of such awards, will be immediately forfeited, cancelled, and disgorged or paid
to the Company together with all gains earned or accrued due to the sale of shares issued upon exercise or settlement of such
awards. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Termination
due to Death or Disability</I></FONT>.&nbsp;If a participant&rsquo;s employment or service terminates by reason
of death or disability, all options and SARs (whether or not then otherwise exercisable) will become exercisable in full and may
be exercised at any time prior to the earlier of (i)&nbsp;the one-year anniversary of the participant&rsquo;s death or disability
or (ii)&nbsp;the expiration of the term of the options or SARs; however, any in-the-money options and SARs that are still outstanding
on the last day of their term will be automatically be exercised on such date, and all other awards will immediately vest in full,
and restricted stock units and performance awards that have not been settled or converted into shares prior to the participant&rsquo;s
death will immediately be settled in shares. Performance awards will vest and be paid based on target levels of performance. </P>

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

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

<!-- Field: Page; Sequence: 76; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->66<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Involuntary
Termination Without Cause</I></FONT>.&nbsp;If a participant&rsquo;s employment or service is involuntarily terminated
without cause, all options and SARs that are unvested will be immediately forfeited and cancelled, and all options and SARs that
are vested will remain outstanding and exercisable until the earlier of (i)&nbsp;thirty (30) days after the termination date or
(ii)&nbsp;the expiration of their term, all restricted stock or restricted stock units that are unvested will be immediately forfeited
and cancelled, and provided that the participant signs a general release and waiver of claims in the form provided by the Company
and does not exercise any rights to revoke such release, the participant will retain a pro-rated portion of any unvested performance
awards granted earlier than one year prior to the termination date, and be earned based on the attainment of the applicable performance
goals (and any performance awards that ae not so earned will be forfeited and cancelled). </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Termination
for Any Other Reason</I></FONT>.&nbsp;If a participant&rsquo;s employment or service terminates for any reason
other as set forth above, all options and SARs that are unvested will be immediately forfeited and cancelled, and all options
and SARs that are vested will remain outstanding and exercisable until the earlier of (i)&nbsp;thirty (30) days after the termination
date or (ii)&nbsp;the expiration of their term, and all other awards that are unvested or have not otherwise been earned shall
be immediately forfeited and cancelled. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Change
in Control</I></FONT>.&nbsp;Unless otherwise provided in an award agreement, and other than with respect to
certain performance awards (described in the next paragraph), no cancellation, acceleration or other payment will occur in connection
with a change in control of the Company if the Compensation Committee reasonably determines in good faith, prior to the occurrence
of the change in control, that the award will be honored or assumed, or new rights substituted therefor following the change in
control, provided that any such alternative award must (i)&nbsp;give the participant rights and entitlements substantially equivalent
to or better than the rights and terms applicable under the award immediately prior to the change in control, (ii)&nbsp;have terms
such that if a participant&rsquo;s employment is involuntarily or constructively terminated within the twenty-four (24) months
following the change in control at a time when any portion of the alternative award is unvested, the unvested portion of the alternative
award will immediately vest in full and the participant will receive either (1)&nbsp;a cash payment equal in value to the excess
(if any) of the fair market value of the stock subject to the alternative award at the date of exercise or settlement over the
price that the participant would be required to pay to exercise the alternative award or (2)&nbsp;an equal value of liquid shares
or equity interests. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Unless otherwise
provided in an award agreement, upon a change in control, then-outstanding performance awards will be modified to replace any
performance goals with vesting solely based on the requirement of continued service through, as nearly as is practicable, the
date(s) on which the satisfaction of the performance goals would have been measured if the change in control had not occurred
or, if applicable, the later period of required service following such measurement date, with accelerated vesting if the participant&rsquo;s
employment is involuntarily or constructively terminated within the twenty-four (24) months following the change in control. The
number of such alternative awards will be equal to (i)&nbsp;if less than 50% of the performance cycle has elapsed, the target
number of performance awards, and (ii)&nbsp;if 50% or more of the performance cycle has elapsed, a number of awards based on actual
performance through the date of the change in control if determinable, or the target, if not determinable. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Except as otherwise
provided above or in an award agreement, upon a change in control: each vested and unvested option or SAR will be cancelled in
exchange for a payment equal to the excess, if any, of the change in control price over the applicable exercise or base price,
the vesting restrictions applicable to all other unvested awards (other than freestanding dividend equivalents and performance
awards) will lapse, and such awards will be cancelled in exchange for a payment equal to the change in control price, the alternative
performance awards will be cancelled in exchange for a payment equal to the change in control price, all other awards (other than
freestanding dividend equivalents) that were vested prior to the change in control but that have not been settled or converted
into shares prior to the change in control will be cancelled in exchange for a payment equal to the change in control price, and
all freestanding dividend equivalents will be cancelled without payment therefor. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> To the extent
any portion of the change in control price is payable other than in cash and/or other than at the time of the change in control,
the award holders will receive the same value in respect of their awards (less any applicable exercise or base price) as is received
by the Company&rsquo;s stockholders in respect of their shares. To the extent any portion of the change in control price is payable
other than at the time of the change in control, the Compensation Committee will determine the time and form of payment to the
award holders consistent with Section&nbsp;409A of the Code and other applicable laws. Upon a change in control the Compensation
Committee may cancel options and SARs for no consideration if the fair market value of the shares subject to such options or such
SARs is less than or equal to their exercise or base price. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Forfeiture,
Cancellation or &ldquo;Clawback&rdquo; of Awards</I></FONT>.&nbsp;Awards (and gains earned or accrued in connection
with awards) will be subject to such generally applicable policies as to forfeiture and recoupment as may be adopted by the Compensation
Committee or the Board. Participants will also forfeit and disgorge to the Company any awards granted or vested and any gains
earned or accrued due to the exercise of options or SARs or the sale of any shares of stock to the extent required by applicable
law or as required by any stock exchange or quotation system on which the stock is listed or quoted. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Amendment
or Termination of the Omnibus Incentive Plan</I></FONT>.&nbsp;The Compensation Committee may amended or otherwise
modified, suspended or terminated the Omnibus Incentive Plan provided that such action does not materially adversely alter or
impair the rights of any award granted thereto. Shareholder approval of amendments may be required to comply with applicable laws
and regulations. No award may be granted during any period of suspension nor after termination of the Omnibus Incentive Plan,
and in no event may any award be granted under the Omnibus Incentive Plan after the expiration of ten years from the effective
date of the plan. </P>

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

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

<!-- Field: Page; Sequence: 77; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->67<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company maintains
various employee benefit plans, including medical, dental, vision, life insurance and 401(k) plans, paid vacation, sick leave
and holidays and employee assistance program benefits in which the named executive officers participate. </P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> <I>Clint Stinchcomb</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The description
below concerning terms and provisions of Clint Stinchcomb&rsquo;s employment agreement is a summary and does not purport to be
a complete recitation of the employment agreement&rsquo;s provisions. Such statements are qualified in their entirety by express
reference to the full text of the employment agreement, a copy of which is attached as Exhibit 10.10 to the Form&nbsp;8-K filed
October 14, 2020. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Effective as of
the Closing of the Merger, Legacy CuriosityStream and Clint Stinchcomb have entered into an employment agreement under which he
serves as Chief Executive Officer of Legacy CuriosityStream after the closing for an initial term of four years, subject to automatic
renewal for an additional one-year period unless Legacy CuriosityStream or Mr. Stinchcomb provides 180&nbsp;days&rsquo; prior
written notice that the initial term shall not be extended. Pursuant to his employment agreement, Mr. Stinchcomb receives an initial
base salary of $490,000, with annual increases of at least 5% each year. If Legacy CuriosityStream&rsquo;s revenue for the year
ending on December 31, 2020 is $39,500,000 or more, then Mr. Stinchcomb&rsquo;s base salary shall increase to $590,000; if Legacy
CuriosityStream&rsquo;s revenue for the year ending on December 31, 2021 is $75,000,000 or more, then Mr. Stinchcomb&rsquo;s base
salary shall increase to $690,000; and if Legacy CuriosityStream&rsquo;s revenue for the year ending on December 31, 2022 is $140,000,000
or more, then Mr. Stinchcomb&rsquo;s base salary shall increase to $790,000. For purposes of the agreement &ldquo;revenue&rdquo;
means Legacy CuriosityStream&rsquo;s total revenue, calculated in accordance with Legacy CuriosityStream&rsquo;s customary accounting
practices, consistently applied. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Under his employment
agreement, Mr. Stinchcomb is eligible to receive a bonus based on a formula and performance criteria approved by, and the achievement
of which is determined by, the Compensation Committee of the Company&rsquo;s board of directors; provided that the target cash
bonus is 100% of his base salary, subject to performance conditions described hereafter and his continued employment through December
31 of the applicable performance year. Mr. Stinchcomb&rsquo;s 100% annual bonus target shall be divided equally between Legacy
CuriosityStream&rsquo;s achievement of revenue targets (with such revenue targets being $36,000,000 for the year ending on December
31, 2020, $71,000,000 for the year ending on December 31, 2021, and $136,000,000 for the year ending on December 31, 2022) and
net income or loss targets, which shall be determined for calendar years 2021 and 2022 following consultation with the compensation
committee prior to the beginning of the calendar year. The performance criteria for the years following the year ending on December
31, 2022, shall be established by the compensation committee in consultation with Mr. Stinchcomb. Mr. Stinchcomb shall be entitled
to his bonus for the last year of his employment, regardless of his separation date, unless he is terminated for &ldquo;cause&rdquo;
(as defined therein) or resigns without &ldquo;good reason&rdquo; (as defined below). Mr. Stinchcomb will be eligible to participate
in the employee benefit plans of Legacy CuriosityStream as Legacy CuriosityStream may maintain from time to time, subject to the
terms of those plans. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &ldquo;Good Reason&rdquo;
is defined in the employment agreement as, without Mr. Stinchcomb&rsquo;s consent, (i)&nbsp;a material diminution in Mr. Stinchcomb&rsquo;s
duties or position, (ii)&nbsp;Mr. Stinchcomb&rsquo;s base salary or annual target bonus opportunity is reduced below the amounts
specified herein (except for across-the-board reductions applicable to senior executives of Legacy CuriosityStream generally);
or (iii)&nbsp;a material breach of the employment agreement by Legacy CuriosityStream; provided, however, that it shall be a prerequisite
of any such termination for good reason that Mr. Stinchcomb shall have given Legacy CuriosityStream written notice within thirty
(30) days following the event or events giving rise to good reason, specifying in reasonable detail the nature and circumstances
of such Good Reason, and given Legacy CuriosityStream thirty (30) days to cure any such good reason prior to any such termination. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Upon the closing
of a transaction resulting in a &ldquo;change in control&rdquo; (as defined below) of Legacy CuriosityStream at a valuation of
$1 billion or more, at any time prior to the third anniversary of the date of the Closing of the Merger, Mr. Stinchcomb will be
entitled to a bonus equal to $2,000,000, subject to Mr. Stinchcomb&rsquo;s continued employment by Legacy CuriosityStream at the
time of the change in control or Mr. Stinchcomb&rsquo;s termination without &ldquo;cause&rdquo; or for &ldquo;good reason&rdquo;
within the six (6)&nbsp;months prior to the change in control. &ldquo;Change in Control&rdquo; is defined as the first to occur
of a &ldquo;change in the ownership of a corporation&rdquo; or a &ldquo;change in the ownership of a substantial portion of the
assets of a corporation,&rdquo; as defined in the Treasury Regulations promulgated under Section&nbsp;409A of the Internal Revenue
Code. </P>

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

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

<!-- Field: Page; Sequence: 78; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->68<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The employment
agreement also provides that Mr. Stinchcomb would be granted Company Options, restricted stock units in the Company or a combination
thereof, or other equity-based awards, which, when taken together with the stock options issued under the Stock Option Plan and
other equity awards otherwise granted to Mr. Stinchcomb in connection with the Merger, will entitle Mr. Stinchcomb to approximately
5.9% of the Company&rsquo;s common stock, calculated on a fully diluted basis on the closing date. If Mr. Stinchcomb is terminated
without &ldquo;cause&rdquo; or resigns for &ldquo;good reason,&rdquo; or dies or becomes disabled, all unvested equity awards
shall accelerate and become immediately exercisable. On November 2, 2020, the compensation committee granted Mr. Stinchcomb stock
options and restricted stock units under this provision (such grant of restricted stock units were effective on November 5, 2020)
as described under &ldquo;&mdash; Compensation of Directors and Officers&nbsp;&mdash; Stock-Based Awards.&rdquo; </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> If Mr. Stinchcomb&rsquo;s
employment is terminated for death or &ldquo;disability&rdquo; (as defined in the employment agreement), he will be entitled to
receive the portion of the bonus due for the year of separation, from the start of the year through the date of termination of
employment, based on actual performance. If Mr. Stinchcomb&rsquo;s employment is terminated by Legacy CuriosityStream without
cause (and not due to disability) or for good reason, (i)&nbsp;Legacy CuriosityStream shall pay Mr. Stinchcomb his base salary
for the balance of the term, but in no event for less than eighteen (18) months or in excess of thirty-six (36) months, without
regard to any reduction that results in good reason, subject to Mr. Stinchcomb complying with restrictive covenants; (ii)&nbsp;Mr.
Stinchcomb will also receive COBRA continuation coverage for Legacy CuriosityStream health insurance benefits in which Mr. Stinchcomb
and his immediately family participate at the same rate made available to similarly situated senior executive for the remainder
of the term of the employment agreement; and (iii)&nbsp;Mr. Stinchcomb will be eligible to receive each annual bonus to which
he would have been entitled over the remainder of the initial term or renewal term, as applicable, based on actual performance
achieved and with a target of 100% of base salary. Severance under Mr. Stinchcomb&rsquo;s employment agreement is subject to his
execution and non-revocation of a release of claims. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Mr. Stinchcomb&rsquo;s
employment agreement provides that, if he receives payments or benefits that would be subject to the excise tax on excess parachute
payments imposed by Section&nbsp;4999 of the Code, then either (i)&nbsp;such payments shall be delivered in full, or (ii)&nbsp;the
aggregate amount of the payments and benefits will be reduced so that the present value of all payments constituting &ldquo;parachute
payments&rdquo; is equal to 2.99 times his &ldquo;base amount,&rdquo; whichever results in the receipt of Mr. Stinchcomb of the
greatest amount of payments or benefits on an after-tax basis. </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Mr. Stinchcomb
is bound by certain restrictive covenant provisions. Specifically, Mr. Stinchcomb&rsquo;s employment agreement contains provisions
(i)&nbsp;requiring the non-disclosure of confidential information and trade secrets. Mr. Stinchcomb&rsquo;s agreement also contains
non-competition provisions that prohibit him from engaging, directly or indirectly, in any &ldquo;competing business&rdquo; (as
defined therein), during the term of his employment and for eighteen (18) months following his termination (the &ldquo;Restricted
Period&rdquo;), (ii)&nbsp;prohibiting the solicitation of any customer, supplier or vender with which Legacy CuriosityStream and
its affiliates have a business relationship, and the solicitation, recruitment or hiring of (or the attempt to solicit, recruit
or hire) any employee of Legacy CuriosityStream and its affiliates or to inducement or attempt to induce any employee or independent
contractor to leave employment or cease doing business with Legacy CuriosityStream and its affiliates, in each case during the
Restricted Period and (iii)&nbsp;prohibiting the inducement of any customer, client, vendor or supplier or other contracting party
or business party to discontinue, terminate, cancel, disrupt or not renew a business relationship or transaction, or to otherwise
interfere with a business relationship or transaction between any such parties and Legacy CuriosityStream and its affiliates,
during the Restricted Period. </P>

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

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

<!-- Field: Page; Sequence: 79; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->69<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><U>Outstanding Equity Awards at
Fiscal Year-End</U></B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>The
following disclosure covers the outstanding equity for the Company&rsquo;s named executive officers for the fiscal year ended
December 31, 2020, with the number of securities and exercise prices listed in the table below reflecting the conversion of the
stock options in connection with the Merger, as described in &ldquo;&mdash;&nbsp;Treatment of Stock Options in Transaction,&rdquo;
unless otherwise noted.</I></FONT> </P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 1.5pt; text-align: center"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> <SUP>&nbsp;</SUP> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="9" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Option Awards </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Stock Awards </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> Name </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number
    of <BR> Securities <BR> Underlying <BR> Unexercised <BR> Options <BR> (#) <BR> Exercisable<SUP>(1)</SUP></B></FONT> </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> <SUP>&nbsp;</SUP> </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number
    of <BR> Securities <BR> Underlying <BR> Unexercised <BR> Options <BR> (#) <BR> Unexercisable<SUP>(2)</SUP></B></FONT> </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> <SUP>&nbsp;</SUP> </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Option
    <BR> Exercise <BR> Price <BR> ($)<SUP>(3)</SUP></B></FONT> </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Option <BR> Expiration <BR> Date </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Number of <BR> Shares or
    <BR>
    Units of <BR> Stock That <BR> Have Not <BR> Vested <BR> (#) </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> <SUP>&nbsp;</SUP> </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Market <BR> Value of <BR>
    Shares of <BR> Units of <BR> Stock That <BR> Have Not Vested <BR> ($) </TD><TD STYLE="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 28%; text-align: left; text-indent: -10pt; padding-left: 10pt"> Clint&nbsp;Stinchcomb </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> 309,280 </TD><TD STYLE="width: 1%; text-align: left"> <SUP>&nbsp;</SUP> </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> 309,281 </TD><TD STYLE="width: 1%; text-align: left"> <SUP>(4)</SUP> </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 4.04 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; width: 11%; text-align: center"> November&nbsp;19,&nbsp;2028 </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> &mdash; </TD><TD STYLE="width: 1%; text-align: left"> <SUP>&nbsp;</SUP> </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> &mdash; </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 4,017 </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,050 </TD><TD STYLE="text-align: left"> <SUP>(5)</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 4.04 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: center"> January&nbsp;29,&nbsp;2029 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 78,898 </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 236,695 </TD><TD STYLE="text-align: left"> <SUP>(6)</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 4.20 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: center"> August&nbsp;1,&nbsp;2029 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 355,500 </TD><TD STYLE="text-align: left"> <SUP>(7)</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 11.50 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: center"> November 2, 2025 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 2,038,570 </TD><TD STYLE="text-align: left"> <SUP>(8)</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 8.77 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: center"> November 2, 2030 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: center"> &mdash; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 88,263 </TD><TD STYLE="text-align: left"> <SUP>(9)</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 1,231,268 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: center"> &mdash; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 73,458 </TD><TD STYLE="text-align: left"> <SUP>(10)</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 1,024,739 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Tia Cudahy </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 132,549 </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 132,549 </TD><TD STYLE="text-align: left"> <SUP>(11)</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 4.04 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: center"> November&nbsp;19,&nbsp;2028 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 19,724 </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 59,175 </TD><TD STYLE="text-align: left"> <SUP>(12)</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 4.20 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: center"> August&nbsp;1,&nbsp;2029 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Jason Eustace </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 94,678 </TD><TD STYLE="text-align: left"> <SUP>(13)</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 5.88 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: center"> February 16, 2030 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 101,571 </TD><TD STYLE="text-align: left"> <SUP>(14)</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 11.50 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: center"> November 2, 2025 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: center"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 25,031 </TD><TD STYLE="text-align: left"> <SUP>(15)</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 349,182 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Devin Emery </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 11,834 </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 35,505 </TD><TD STYLE="text-align: left"> <SUP>(16)</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 4.20 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: center"> November&nbsp;10,&nbsp;2029 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 101,571 </TD><TD STYLE="text-align: left"> <SUP>(17)</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 11.50 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: center"> November 2, 2025 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> <SUP>&nbsp;</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; text-align: center"> &mdash; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 27,548 </TD><TD STYLE="text-align: left"> <SUP>(18)</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 384,294 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> &nbsp; </P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
                                         the extent awarded pre-Business Combination, the number of securities in this column
                                         reflect the conversion of the stock options in connection with the Merger, described
                                         in &ldquo;&mdash;&nbsp;Treatment of Stock Options in Transaction.&rdquo;</FONT> </TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
                                         the extent awarded pre-Business Combination, the number of securities in this column
                                         reflect the conversion of the stock options in connection with the Merger, described
                                         in &ldquo;&mdash;&nbsp;Treatment of Stock Options in Transaction.&rdquo;</FONT> </TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
                                         the extent awarded pre-Business Combination, the option exercise prices in this column
                                         reflect the conversion of the stock options in connection with the Merger, described
                                         in &ldquo;&mdash;&nbsp;Treatment of Stock Options in Transaction.&rdquo;</FONT> </TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">154,640
                                         options (adjusted for the Merger conversion) vested on November 20, 2019, 154,640 options
                                         vested on November 20, 2020, and the remaining options vest in two equal installments
                                         on November 20, 2021 and November 20, 2022. The remaining options originally vested based
                                         upon service and performance criteria. These performance vesting criteria have been waived
                                         by Legacy CuriosityStream.</FONT> </TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,017
                                         options (adjusted for the Merger conversion) vested on January 30, 2020, and the remaining
                                         options vest in three equal installments on January 30, 2021, January 30, 2022 and January
                                         30, 2023.</FONT> </TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">78,898
                                         options (adjusted for the Merger conversion) vested on August 2, 2020, and the remaining
                                         options vest in three equal installments on August 2, 2021, August 2, 2022 and August
                                         2, 2023.</FONT> </TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(7)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
                                         option was fully exercisable upon grant.</FONT> </TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(8)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                         remaining options vest in four equal installments on November 2, 2021, November 2, 2022,
                                         November 2, 2023 and November 2, 2024.</FONT> </TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

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

<!-- Field: Page; Sequence: 80; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->70<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(9)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
                                         restricted stock unit grant will vest in four equal installments on November 5, 2021,
                                         November 5, 2022, November 5, 2023 and November 5, 2024. Notwithstanding the foregoing,
                                         if the reporting person is terminated without cause, or resigns for good reason, or dies
                                         or becomes disabled, all unvested restricted stock units for this grant will become vested,
                                         and will be settled upon vesting (or within 30&nbsp;days thereafter).</FONT> </TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(10)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
                                         restricted stock unit grant will vest in four equal installments on November 5, 2021,
                                         November 5, 2022, November 5, 2023 and November 5, 2024.</FONT> </TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(11)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">66,275
                                         options (adjusted for the Merger conversion) vested on November 20, 2019, 66,274 options
                                         vested on November 20, 2020, and the remaining options vest in two equal installments
                                         on November 20, 2021 and November 20, 2022. The remaining options originally vested based
                                         upon service and performance criteria. These performance vesting criteria have been waived
                                         by Legacy CuriosityStream.</FONT> </TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(12)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19,724
                                         options (adjusted for the Merger conversion) vested on August 2, 2020, and the remaining
                                         options vest in three equal installments on August 2, 2021, August 2, 2022 and August
                                         2, 2023.</FONT> </TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(13)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                         remaining options vest in four equal installments on February 17, 2021, February 17,
                                         2022, February 17, 2023 and February 17, 2024.</FONT> </TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(14)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
                                         option was fully exercisable upon grant.</FONT> </TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(15)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
                                         restricted stock unit grant will vest in four equal installments on November 5, 2021,
                                         November 5, 2022, November 5, 2023 and November 5, 2024.</FONT> </TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(16)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,834
                                         options (adjusted for the Merger conversion) vested on November 11, 2020. The remaining
                                         options vest in three equal installments on November 11, 2021, November 11, 2022 and
                                         November 11, 2023.</FONT> </TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(17)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
                                         option was fully exercisable upon grant.</FONT> </TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(18)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
                                         restricted stock unit grant will vest in four equal installments on November 5, 2021,
                                         November 5, 2022, November 5, 2023 and November 5, 2024.</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"> <B>CuriosityStream Inc. Stock Option
Plan</B> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> Prior to the Merger,
Legacy CuriosityStream issued equity awards under the stock option plan to provide for the grant of equity-based awards to our
employees, non-employee directors and consultants/advisors (the &ldquo;Stock Option Plan&rdquo;). The Stock Option Plan was terminated
in connection with the Merger. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Authorized
Shares.&nbsp;</I></FONT>The maximum aggregate number of shares that could be issued under the Stock Option Plan
was 4,200,000 shares of Legacy CuriosityStream Common Stock, plus any shares that became available upon forfeiture of outstanding
awards. Shares used to pay the exercise price of an award or to satisfy tax withholding obligations related to an award, as well
as shares issued in connection with awards that are assumed, converted or substituted pursuant to a merger or an acquisition,
became available for future grant under our Stock Option Plan. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Plan
Administration.&nbsp;</I></FONT>The Stock Option Plan was administered by the Legacy CuriosityStream board of
directors, which had power to determine the terms of the awards, including, but not limited to, the recipients of the awards,
the number of shares subject to each award and the vesting schedule and exercisability of the awards. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 81; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->71<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Stock
Options.&nbsp;</I></FONT>The Stock Option Plan permitted the grant of incentive stock options to employees and/or
non-statutory stock options to employees, non-employee directors or consultants/advisors. The exercise price of stock options
was no less than the fair market value of the stock. Each stock option agreement set forth the vesting schedule of the options
and the term of the options, which, in the case of incentive stock options, could not exceed ten&nbsp;years. Payment of the exercise
price could be made in cash or cash equivalents or other methods permitted under the plan or the stock option agreement. The extent
to which a vested option could be exercisable following termination of service was set forth in each stock option agreement. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Adjustments;
Change in Control.&nbsp;</I></FONT>In the event of certain changes in the Legacy CuriosityStream corporate structure,
including a stock split, combination of shares, recapitalization, reclassification, merger or reorganization, the administrator
could make appropriate adjustments to prevent diminution or enlargement of the benefits or potential benefits available under
the Stock Option Plan, including adjusting the aggregate number of shares reserved for issuance under the Stock Option Plan, shares
subject to outstanding awards and exercise prices of outstanding stock options and stock appreciation rights. The Legacy CuriosityStream
Stock Option Plan provided that, unless otherwise provided in individual award agreements, in the event of a merger or consolidation
each outstanding award could be assumed or substituted for an equivalent award or cash. The treatment of the options outstanding
under the Stock Option Plan in the Merger is described in &ldquo;&mdash;&nbsp;Treatment of Stock Options in Transaction. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Amendment
or Termination.&nbsp;</I></FONT>The Legacy CuriosityStream board of directors had the authority to amend, suspend
or terminate the Stock Option Plan provided such action does not materially impair the existing rights of any award recipient.
Stockholder approval of amendments could be required to comply with applicable laws and regulations. The Stock Option Plan was
terminated in connection with the Merger. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> In connection with
the consummation of the Business Combination, our 2020 Omnibus Incentive Plan (the &ldquo;Omnibus Incentive Plan&rdquo;) was adopted
by the stockholders of the Company. Employees of the Company, including the named executive officers, are entitled to participate
in the Omnibus Incentive Plan, which is described above. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> &nbsp; </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> Under the terms
of the Merger Agreement, each Legacy CuriosityStream stock option, whether vested or unvested, that was outstanding and unexercised
immediately prior to the effective time of the Merger, was automatically converted into the right to receive an option to purchase
shares of Common Stock of the Company (the &ldquo;Company Options&rdquo;). The number of shares of Common Stock (rounded down
to the nearest whole share) that are subject to the Company Options equals the product of (A)&nbsp;the number of shares of Legacy
CuriosityStream common stock subject to Legacy CuriosityStream stock options immediately prior to the effective time of the Merger
and (B)&nbsp;the Option Exchange Ratio. The &ldquo;Option Exchange Ratio&rdquo; is equal to (a)(x) the sum of (1)&nbsp;$302,098,500,
plus or minus (2)&nbsp;an amount equal to the sum of estimated working capital and closing cash of Legacy CuriosityStream net
of estimated indebtedness of Legacy CuriosityStream and amounts being escrowed for working capital adjustments to be performed
post-closing and indemnification obligations of Legacy CuriosityStream, plus (3)&nbsp;amounts being escrowed for working capital
adjustments to be performed post-closing, plus (4)&nbsp;amounts being escrowed for indemnification obligations of Legacy CuriosityStream,
plus (5)&nbsp;the aggregate exercise price that would be payable by the Legacy CuriosityStream option holders upon the exercise
of all Legacy CuriosityStream options outstanding immediately prior to the Effective Time, divided by, (y)&nbsp;the sum of (1)&nbsp;the
aggregate number of shares of Legacy CuriosityStream common stock issued and outstanding as of the time of determination, plus
(2)&nbsp;the aggregate number of shares of Legacy CuriosityStream common stock issuable upon conversion of the aggregate number
of shares of preferred stock issued and outstanding as of such time, plus (3)&nbsp;the number of shares of Legacy CuriosityStream
common stock issuable upon the exercise of all Legacy CuriosityStream stock options outstanding as of immediately prior to the
effective time of the merger, divided by (b) $10.04. The Company Options have an exercise price per share (rounded up the nearest
whole cent) of Common Stock equal to the quotient of (A)&nbsp;the exercise price per share of Legacy CuriosityStream common stock
of such Legacy CuriosityStream stock option immediately prior to the effective time of the Merger and (B)&nbsp;the Option Exchange
Ratio. The Company Options were granted pursuant to the Omnibus Incentive Plan, but are otherwise subject to the same vesting
and exercise terms and conditions as applied to the Legacy CuriosityStream stock options immediately prior to the effective date
of the Merger. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> Pursuant to the
terms of the Merger Agreement, if the employment of Tia Cudahy, Jason Eustace or Devin Emery (each a &ldquo;Listed Participant&rdquo;)
is terminated by the Company other than for &ldquo;cause&rdquo; (defined therein) or by the Listed Participant with &ldquo;good
reason&rdquo; (defined therein), in each case during the two-year period following the effective date of the Merger, then the
Company Options held by such Listed Participant as of immediately prior to the closing of the Merger will automatically become
fully vested and shall remain outstanding and exercisable until the earlier of (i)&nbsp;three (3)&nbsp;months after the effective
date of the termination of such Listed Participant&rsquo;s employment and (ii)&nbsp;the expiration of the term of the Software
Acquisition Group Option. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B>Company 401(k) Plan</B> </P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Legacy CuriosityStream established
a tax-qualified Section&nbsp;401(k) retirement savings plan for all employees who satisfy certain eligibility requirements. Under
this plan, participants may elect to make pre-tax contributions to the plan of up to a certain portion of their current compensation,
not to exceed the applicable statutory income tax limitation. Legacy CuriosityStream intended for the plan to qualify under Section&nbsp;401(a)
of the Code, such that contributions to the plan, and income earned on those contributions, are not taxable to participants until
withdrawn from the plan. This 401(k) plan is now sponsored and maintained 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; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 82; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->72<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> The following disclosure concerns the
total compensation of Legacy CuriosityStream&rsquo;s non-employee directors for the fiscal year ended December 31, 2020. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold"> Name </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Fees <BR> Earned or <BR>
    Paid in <BR> Cash <BR> ($) </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Stock <BR> Awards <BR>
    ($) </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Option <BR> Awards <BR>
    ($) </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Total <BR> ($) </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">John
    Hendricks<SUP>(1)</SUP></FONT> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 52%; text-align: left; text-indent: -10pt; padding-left: 10pt"> Elizabeth Hendricks </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 16,000 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 82,862 </TD><TD STYLE="width: 1%; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(2)</SUP></FONT> </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> &mdash; </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 98,862 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Patrick Keeley </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 17,500 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 93,638 </TD><TD STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(3)</SUP></FONT> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 111,138 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Richard
    Blum<SUP>(4)</SUP></FONT> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Matthew Blank </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 14,500 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 78,966 </TD><TD STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(5)</SUP></FONT> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 93,466 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Jonathan Huberman </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 17,500 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 93,638 </TD><TD STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(6)</SUP></FONT> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 111,138 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Mike Nikzad </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 16,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 82,862 </TD><TD STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(7)</SUP></FONT> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 98,862 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
</TABLE>

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

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (1) </TD><TD STYLE="text-align: justify"> John Hendricks
                                         waived the right to receive any cash retainer or equity award in 2020 in connection with
                                         his Board service. </TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (2) </TD><TD STYLE="text-align: justify"> Represents a
                                         grant of 8,997 restricted stock units on November 5, 2020. On the grant date, the closing
                                         price was $9.21. The restricted stock units shall vest in two installments, with 1,328
                                         restricted stock units vesting on October 31, 2021 and 7,669 restricted stock units vesting
                                         on December 31, 2021. </TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (3) </TD><TD STYLE="text-align: justify"> Represents a
                                         grant of 10,167 restricted stock units on November 5, 2020. On the grant date, the closing
                                         price was $9.21. The restricted stock units shall vest in two installments, with 1,452
                                         restricted stock units vesting on October 31, 2021 and 8,715 restricted stock units vesting
                                         on December 31, 2021. </TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (4) </TD><TD STYLE="text-align: justify"> Mr. Blum left
                                         the CuriosityStream Board effective as of July 29, 2020. </TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (5) </TD><TD STYLE="text-align: justify"> Represents a
                                         grant of 8,574 restricted stock units on November 5, 2020. On the grant date, the closing
                                         price was $9.21. The restricted stock units shall vest in two installments, with 1,204
                                         restricted stock units vesting on October 31, 2021 and 7,370 restricted stock units vesting
                                         on December 31, 2021. </TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (6) </TD><TD STYLE="text-align: justify"> Represents a
                                         grant of 10,167 restricted stock units on November 5, 2020. On the grant date, the closing
                                         price was $9.21. The restricted stock units shall vest in two installments, with 1,452
                                         restricted stock units vesting on October 31, 2021 and 8,715 restricted stock units vesting
                                         on December 31, 2021. </TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (7) </TD><TD STYLE="text-align: justify"> Represents a
                                         grant of 8,997 restricted stock units on November 5, 2020. On the grant date, the closing
                                         price was $9.21. The restricted stock units shall vest in two installments, with 1,328
                                         restricted stock units vesting on October 31, 2021 and 7,669 restricted stock units vesting
                                         on December 31, 2021. </TD>
</TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> The compensation
structure for employees on the Company&rsquo;s board of directors are discussed above. Our non-employee directors are compensated
with a combination of cash and equity in the Company, with additional compensation for service on Board committees. Our Board
compensation plan was determined in accordance with industry practice and standards. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> &nbsp; </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> The Company uses
stock-based awards to promote our interests by providing directors with the opportunity to acquire equity interests as an incentive
for their remaining in our service and aligning the directors&rsquo; interests with those of the company&rsquo;s equity holders.
Stock-based awards are awarded under the Omnibus Incentive Plan, which has been adopted by the Company&rsquo;s board of directors
and was approved by the Company&rsquo;s stockholders on October 12, 2020. The maximum number of shares subject to awards granted
during a single compensation year (that is from one annual meeting of stockholders to the next annual meeting) to any non-employee
director, taken together with any cash fees paid during the compensation year to the non-employee director, in respect of the
director&rsquo;s service as a member of the Board during such year (including service as a member or chair of any committees of
the Board), will not exceed $500,000 in total value. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> The compensation
committee approved grants of restricted stock units to employee and non-employee directors of the Company as of November 5, 2020.
The grants to employee directors of the Company are discussed in &ldquo;Compensation of Officers&nbsp;&mdash; Stock-Based Awards.&rdquo;
The restricted stock units for the non-employee directors will vest as described below for each director, in each case, provided
that the grantee continuously provides services to the Company or its subsidiaries through such vesting date, with settlement
on the vesting date or within 30&nbsp;days thereafter. The restricted stock units are subject to the terms and conditions of the
Omnibus Incentive Plan and a restricted stock unit agreement. The compensation committee approved the following restricted stock
unit grants to non-employee directors: 8,997 restricted stock units for each of Ms.&nbsp;Elizabeth Hendricks and Mr. Mike Nikzad
(with 1,328 restricted stock units vesting on October 31, 2021 and 7, 669 restricted stock units vesting on December 31, 2021),
10,167 restricted stock units for each of Messrs. Jonathan Huberman and Patrick Keeley (with 1,452 restricted stock units vesting
on October 31, 2021 and 8,715 restricted stock units vesting on December 31, 2021), and 8,574 restricted stock units for Mr. Matthew
Blank (with 1,204 restricted stock units vesting on October 31, 2021 and 7,370 restricted stock units vesting on December 31,
2021) </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"></P>

<!-- Field: Page; Sequence: 83; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->73<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_020"></A>BENEFICIAL OWNERSHIP OF SECURITIES</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The following
tables set forth information known to the Company regarding the beneficial ownership of our Common Stock, that upon the consummation
of this offering, will be owned by: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> each
                                         person known to the Company to be the beneficial owner of more than 5% of outstanding
                                         Common Stock; </TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: justify"> &nbsp; </TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> each
                                         of the Company&rsquo;s named executive officers and directors; and </TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: justify"> &nbsp; </TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> all
                                         executive officers and directors of the Company as a group. </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Beneficial ownership
for the purposes of the following table is determined in accordance with the rules and regulations of the SEC. A person is a &ldquo;beneficial
owner&rdquo; of a security if that person has or shares &ldquo;voting power,&rdquo; which includes the power to vote or to direct
the voting of the security, or &ldquo;investment power.&rdquo; which includes the power to dispose of or to direct the disposition
of the security or has the right to acquire such powers within 60&nbsp;days. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The beneficial ownership
percentages set forth in the table below are on 52,548,000&nbsp;shares of Common Stock issued and outstanding as of March 26, 2021 and
do not take into account the issuance of any shares of Common Stock upon the exercise of Warrants to purchase up to 6,730,203&nbsp;shares
of Common Stock that remain outstanding. Shares of Common Stock subject to options, restricted stock units or Warrants which are presently
exercisable or exercisable within 60&nbsp;days are considered outstanding for computing the ownership percentage of the person holding
such options, but are not considered outstanding for computing the ownership percentage of any other person. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 84; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->74<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Unless otherwise
noted in the footnotes to the following tables, and subject to applicable community property laws, the persons and entities named
in the table have sole voting and investment power with respect to their beneficially owned Common Stock and Warrants. Further,
unless otherwise noted in the footnotes to the following table, the address for each listed 5% stockholder and executive officer
and director is: c/o CuriosityStream Inc., 8484 Georgia Ave., Suite 700, Silver Spring, Maryland 20910. </P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> Shares
    Beneficially<BR> Owned Before this Offering </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"> Name of Beneficial Owners </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> Number
    of<BR> Shares of Common Stock </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> Percentage&nbsp;of<BR>
    Outstanding<BR> Common<BR> Stock </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> 5% Stockholders: </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hendricks
    Factual Media LLC<SUP>(1)</SUP></FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"> 20,339,232 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"> 38.7 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TimesSquare
    Capital Management, LLC<SUP>(2)</SUP></FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 2,404,520 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 4.6 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"> Executive
    Officers and Directors: </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">John
    Hendricks<SUP>(3)</SUP></FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 21,235,389 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 40.4 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Clint
    Stinchcomb<SUP>(4)</SUP></FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 751,712 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 1.4 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jason
    Eustace<SUP>(4)</SUP></FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 125,241 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; 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; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tia
    Cudahy<SUP>(4)</SUP></FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 304,632 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; 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; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Devin
    Emery<SUP>(4)</SUP></FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 113,406 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; 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; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"> Elizabeth
    Hendricks </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> &mdash; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> &mdash; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Patrick
    Keeley<SUP>(5)</SUP></FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 38,090 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; 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; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"> Matthew
    Blank </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> &mdash; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> &mdash; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jonathan
    Huberman<SUP>(6)</SUP></FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 3,116,737 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 5.9 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mike
    Nikzad<SUP>(7)</SUP></FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 1,100,025 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 2.1 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"> Andrew Hendricks </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> &mdash; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> &mdash; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"> All
    directors and executive officers as a group (11 individuals) </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 26,785,232 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 51.0 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> % </TD></TR>
</TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -24pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid"> &nbsp; </DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -24pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> * </TD><TD STYLE="text-align: justify"> Indicates less
                                         than one percent of the outstanding shares of the class of stock. </TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (1) </TD><TD STYLE="text-align: justify"> John Hendricks,
                                         the Chairman of the Company&rsquo;s Board, is the manager of HFM and holds voting and
                                         dispositive power over the Company&rsquo;s securities held by HFM. As a result, John
                                         Hendricks may be deemed to be the beneficial owner of the securities held of record by
                                         HFM. HFM and John Hendricks have pledged, either directly or indirectly, certain shares
                                         of Common Stock to Stifel Bank &amp; Trust (&ldquo;Stifel&rdquo;) as partial collateral
                                         security for certain full recourse obligations owing to Stifel. The aggregate number
                                         of shares of Common Stock subject to such pledges is limited to 9.9% of the issued and
                                         outstanding shares of Common Stock. Each pledge is subject to customary events of default
                                         that permit Stifel to exercise rights and remedies with respect to such pledged shares
                                         of Common Stock, including the sale of such shares of Common Stock. </TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (2) </TD><TD STYLE="text-align: justify"> The principal
                                         office or business address of TimesSquare Capital Management, LLC is 7 Times Square,
                                         42 Floor, New&nbsp;York, NY 10036. </TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (3) </TD><TD STYLE="text-align: justify"> Includes 896,157 shares of Common Stock held by Mr.&nbsp;John
Hendricks directly and 20,339,232&nbsp;shares of Common Stock held by HFM, of which Mr.&nbsp;Hendricks may be deemed to be the
beneficial owner. HFM and John Hendricks have pledged, either directly or indirectly, certain shares of Common Stock to Stifel
Bank &amp; Trust (&ldquo;Stifel&rdquo;) as partial collateral security for certain full recourse obligations owing to Stifel. The
aggregate number of shares of Common Stock subject to such pledges is limited to 9.9% of the issued and outstanding shares of Common
Stock. Each pledge is subject to customary events of default that permit Stifel to exercise rights and remedies with respect to
such pledged shares of Common Stock, including the sale of such shares of Common Stock. </TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (4) </TD><TD STYLE="text-align: justify"> Represents shares
                                         of Common Stock underlying options which are presently exercisable or exercisable within
                                         60&nbsp;days. </TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (5) </TD><TD STYLE="text-align: justify"> Includes 30,056&nbsp;shares
                                         of Common Stock held by Mr.&nbsp;Patrick Keeley directly and 8,034&nbsp;shares of Common
                                         Stock underlying options which are presently exercisable or exercisable within 60&nbsp;days. </TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (6) </TD><TD STYLE="text-align: justify"> Indirectly held
                                         by Mr.&nbsp;Jonathan Huberman, includes 1,554,437&nbsp;shares of Common Stock held of
                                         record by 211 LV LLC, 1,010,900&nbsp;shares of Common Stock underlying Warrants which
                                         are presently exercisable held of record by 211 LV LLC and 551,400&nbsp;shares of Common
                                         Stock underlying Warrants which are presently exercisable held of record by Ooyala Global
                                         Inc. Jonathan Huberman, a member of the Company&rsquo;s Board and the Company&rsquo;s
                                         former Chief Executive Officer, Chief Financial Officer and Chairman, is a manager of
                                         211 LV LLC and the controlling owner of Ooyala Global Inc. As such, he may be deemed
                                         to have or share voting and dispositive power of the shares held directly by 211 LV LLC
                                         and Ooyala Global Inc. Mr.&nbsp;Huberman disclaims any beneficial ownership of these
                                         reported shares other than to the extent of any pecuniary interest he may have therein,
                                         directly or indirectly. </TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"> (7) </TD><TD STYLE="text-align: justify"> Includes 551,400&nbsp;shares
                                         of Common Stock underlying Warrants which are presently exercisable. </TD>
</TR></TABLE>


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

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 85; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->75<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_021"></A><B>DESCRIPTION OF SECURITIES</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> The following is a description
of the material terms of, and is qualified in its entirety by, our Charter and Bylaws. We urge you to read in its entirety our Charter,
which is filed as an exhibit to the registration statement of which this prospectus forms a part. </P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our authorized
capital stock consists of 125,000,000&nbsp;shares of Common Stock, and 1,000,000&nbsp;shares of undesignated preferred stock,
par value $0.0001 per share. No shares of preferred stock are issued or outstanding. We have issued all shares of our Common Stock
in uncertificated form. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Holders of Common
Stock are entitled to one vote for each share held of record on all matters submitted to a vote of stockholders, including the
election or removal of directors. Holders of Common Stock vote together as a single class on all matters submitted to a vote of
our stockholders (each a &ldquo;Stockholder,&rdquo; and collectively the &ldquo;Stockholders&rdquo;), except as required by applicable
law. Unless specified in our Charter or Bylaws, or as required by applicable provisions of the DGCL or applicable stock exchange
rules, the affirmative vote of a majority of the shares of Common Stock that are voted is required to approve any matter (except
for the election of directors) being voted on by our Stockholders. Our board of directors (the &ldquo;Board&rdquo;) is divided
into three classes, each of which generally serves for a term of three years with only one class of directors being elected each
year. Our Stockholders do not have cumulative voting rights in the election of directors. Accordingly, holders of a majority of
the voting shares are able to elect all of the directors. Our Stockholders are entitled to receive ratable dividends, as may be
declared from time-to-time&nbsp;by our Board out of legally available funds. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The Founder Shares
are identical to the shares of Common Stock and holders of Founder Shares have the same stockholder rights as public Stockholders,
except that (i)&nbsp;the Founder Shares are subject to certain transfer restrictions, as described in more detail below and (ii)&nbsp;are
entitled to registration rights. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> With certain limited
exceptions, the Founder Shares are not transferable, assignable or salable (except to our officers and directors and other persons
or entities affiliated with the Sponsor, each of whom are subject to the same transfer restrictions) until the earlier of (A)&nbsp;one
year after the completion of the Business Combination, or (B)&nbsp;subsequent to the Business Combination, (x)&nbsp;if the last
sale price of Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30 trading day period commencing at least 150&nbsp;days after
the Business Combination, or (y)&nbsp;the date on which we complete a liquidation, merger, capital stock exchange, reorganization
or other similar transaction that results in all of our Stockholders having the right to exchange their shares of Common Stock
for cash, securities or other property. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our Charter provides
that shares of preferred stock may be issued from time to time in one or more series. Our Board is authorized to fix the voting
rights, if any, designations, powers, preferences, the relative, participating, optional or other special rights and any qualifications,
limitations and restrictions thereof, applicable to the shares of each series. Our Board is able, without stockholder approval,
to issue preferred stock with voting and other rights that could adversely affect the voting power and other rights of the holders
of our Common Stock and could have anti-takeover&nbsp;effects. The ability of our Board to issue preferred stock without stockholder
approval could have the effect of delaying, deferring or preventing a change of control of us or the removal of existing management.
We have no preferred stock outstanding as of the date hereof. Although we do not currently intend to issue any shares of preferred
stock, we cannot assure you that we will not do so in the future. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The Warrants were
issued in registered form under the Warrant Agreement between Continental Stock Transfer &amp; Trust Company (the &ldquo;Warrant
Agent&rdquo;), and the Company (the &ldquo;Warrant Agreement&rdquo;). The Warrant Agreement provides that the terms of the Warrants
may be amended without the consent of any holder to cure any ambiguity or correct any defective provision, but requires the approval
by the holders of at least a majority of the then outstanding Public Warrants to make any change that adversely affects the interests
of the registered holders of Public Warrants. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The Warrants may
be exercised upon surrender of the warrant certificate on or prior to the expiration date at the offices of the Warrant Agent,
with the exercise form on the reverse side of the warrant certificate completed and executed as indicated, accompanied by full
payment of the exercise price (or on a cashless basis, if applicable), by certified or official bank check payable to us, for
the number of Warrants being exercised. The warrantholders do not have the rights or privileges of holders of Common Stock and
any voting rights until they exercise their Warrants and receive shares of Common Stock. After the issuance of shares of Common
Stock upon the exercise of the Warrants, each holder will be entitled to one vote for each share held of record on all matters
to be voted on by our Stockholders. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Each whole Warrant
entitles the registered holder to purchase one whole share of Common Stock at a price of $11.50 per share, subject to adjustment
as discussed below, 30&nbsp;days after the completion of our Business Combination. Pursuant to the Warrant Agreement, a warrantholder
may exercise its Warrants only for a whole number of shares of Common Stock. This means that only a whole Warrant may be exercised
at any given time by a warrantholder. Only whole Warrants are traded. The Warrants will expire on October&nbsp;14, 2025, at 5:00
p.m. Eastern Time, or earlier upon redemption or liquidation. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> </P>

<!-- Field: Page; Sequence: 86; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->76<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> No Warrant is
exercisable and we will not be obligated to issue shares of Common Stock upon exercise of a Warrant unless Common Stock issuable
upon such Warrant exercise has been registered, qualified, or deemed to be exempt under the securities laws of the state of residence
of the registered holder of such Warrant. In the event that the conditions in the immediately preceding sentence are not satisfied
with respect to a Warrant, the holder of such Warrant will not be entitled to exercise such Warrant and such Warrant may have
no value and expire worthless. In no event will we be required to net cash settle any Warrant. In the event that a registration
statement is not effective for the exercised Warrants, the purchaser of a Unit containing such Warrant will have paid the full
purchase price for the Unit solely for the share of Common Stock underlying such Unit. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> During any period
when we will have failed to maintain an effective registration statement with respect to the Warrants or the Common Stock issuable
upon exercise of the Warrants, warrantholders may exercise Warrants on a &ldquo;cashless basis&rdquo; in accordance with Section&nbsp;3(a)(9)
of the Securities Act or another exemption. If that exemption, or another exemption, is not available, holders will not be able
to exercise their Warrants on a cashless basis. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Once the Warrants
become exercisable, we may call the Warrants for redemption: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> in whole
                                         and not in part; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> at a
                                         price of $0.01 per Warrant; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> upon
                                         not less than 30&nbsp;days&rsquo; prior written notice of redemption (the &ldquo;30&nbsp;day
                                         redemption period&rdquo;) to each warrantholder; and </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> if,
                                         and only if, the reported last sale price of the Common Stock equals or exceeds $18.00
                                         per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
                                         and the like) for any 20 trading days within a 30 trading day period ending three (3)
                                         business days before we send the notice of redemption to the warrantholders. </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> If and when the
Warrants become redeemable, we may not exercise our redemption right if the issuance of shares of Common Stock upon exercise of
the Warrants is not exempt from registration or qualification under applicable state blue sky laws or we are unable to effect
such registration or qualification. We will use our best efforts to register or qualify such shares of Common Stock under the
blue sky laws of the state of residence in those states in which the Warrants were offered by us in our IPO. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> We established
the last of the redemption criteria discussed above to prevent a redemption call unless there is, at the time of the call, a significant
premium to the Warrant exercise price. If the foregoing conditions are satisfied and we issue a notice of redemption of the Warrants,
each warrantholder is entitled to exercise its Warrant prior to the scheduled redemption date. However, the price of the Common
Stock may fall below the $18.00 redemption trigger price (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
and the like) as well as the $11.50 Warrant exercise price after the redemption notice is issued. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> If we call the
Warrants for redemption as described above, our management will have the option to require any holder that wishes to exercise
its Warrant to do so on a &ldquo;cashless basis.&rdquo; In determining whether to require all holders to exercise their Warrants
on a &ldquo;cashless basis,&rdquo; management will consider, among other factors, our cash position, the number of Warrants that
are outstanding and the dilutive effect on our Stockholders of issuing the maximum number of shares of Common Stock issuable upon
the exercise of the Warrants. If our management takes advantage of this option, all holders of Warrants would pay the exercise
price by surrendering their Warrants for that number of shares of Common Stock equal to the quotient obtained by dividing (x)&nbsp;the
product of the number of shares of Common Stock underlying the Warrants, multiplied by the difference between the exercise price
of the Warrants and the &ldquo;fair market value&rdquo; (defined below) by (y)&nbsp;the fair market value. The &ldquo;fair market
value&rdquo; shall mean the average reported last sale price of the Common Stock for the ten trading days ending on the third
trading day prior to the date on which the notice of redemption is sent to the holders of Warrants. If our management takes advantage
of this option, the notice of redemption will contain the information necessary to calculate the number of shares of Common Stock
to be received upon exercise of the Warrants, including the &ldquo;fair market value&rdquo; in such case. Requiring a cashless
exercise in this manner will reduce the number of shares of our Common Stock to be issued and thereby lessen the dilutive effect
of a Warrant redemption on our Stockholders. We believe this feature is an attractive option to the Company if it does not need
the cash from the exercise of the Warrants. If we call our Warrants for redemption and our management does not take advantage
of this option, the Sponsor and its permitted transferees would still be entitled to exercise their Private Placement Warrants
for cash or on a cashless basis using the same formula described above that other warrantholders would have been required to use
had all warrantholders been required to exercise their Warrants on a cashless basis, as described in more detail below. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 87; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->77<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> A holder of a
Warrant may notify us in writing in the event it elects to be subject to a requirement that such holder will not have the right
to exercise such Warrant, to the extent that, to the Warrant Agent&rsquo;s actual knowledge, after giving effect to such exercise,
such person (together with such person&rsquo;s affiliates) would beneficially own in excess of 4.9% or 9.8% (or such other amount
as a holder may specify) of the shares of Common Stock outstanding immediately after giving effect to such exercise. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> If the number
of outstanding shares of Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a split-up&nbsp;of
shares of Common Stock or other similar event, then, on the effective date of such stock dividend, split-up&nbsp;or similar event,
the number of shares of Common Stock issuable on exercise of each Warrant will be increased in proportion to such increase in
the outstanding shares of Common Stock. A rights offering to holders of Common Stock entitling holders to purchase shares of Common
Stock at a price less than the fair market value will be deemed a stock dividend of a number of shares of Common Stock equal to
the product of (i)&nbsp;the number of shares of Common Stock actually sold in such rights offering (or issuable under any other
equity securities sold in such rights offering that are convertible into or exercisable for Common Stock) and (ii)&nbsp;one minus
the quotient of (x)&nbsp;the price per share of Common Stock paid in such rights offering divided by (y)&nbsp;the fair market
value. For these purposes (i)&nbsp;if the rights offering is for securities convertible into or exercisable for Common Stock,
in determining the price payable for Common Stock, there will be taken into account any consideration received for such rights,
as well as any additional amount payable upon exercise or conversion and (ii)&nbsp;fair market value means the volume weighted
average price of Common Stock as reported during the ten trading day period ending on the trading day prior to the first date
on which the shares of Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right
to receive such rights. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In addition, if
we, at any time while the Warrants are outstanding and unexpired, pay a dividend or make a distribution in cash, securities, or
other assets to the holders of Common Stock on account of such shares of Common Stock (or other shares of our capital stock into
which the Warrants are convertible), other than (a)&nbsp;as described above or (b)&nbsp;certain ordinary cash dividends, then
the Warrant exercise price will be decreased, effective immediately after the effective date of such event, by the amount of cash
and/or the fair market value of any securities or other assets paid on each share of Common Stock in respect of such event. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> If the number
of outstanding shares of Common Stock is decreased by a consolidation, combination, reverse stock split or reclassification of
shares of Common Stock or other similar event, then, on the effective date of such consolidation, combination, reverse stock split,
reclassification or similar event, the number of shares of Common Stock issuable on exercise of each Warrant will be decreased
in proportion to such decrease in outstanding shares of Common Stock. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Whenever the number
of shares of Common Stock purchasable upon the exercise of the Warrants is adjusted, as described above, the Warrant exercise
price will be adjusted by multiplying the Warrant exercise price immediately prior to such adjustment by a fraction, (x)&nbsp;the
numerator of which will be the number of shares of Common Stock purchasable upon the exercise of the Warrants immediately prior
to such adjustment, and (y)&nbsp;the denominator of which will be the number of shares of Common Stock so purchasable immediately
thereafter. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In case of any
reclassification or reorganization of the outstanding shares of Common Stock (other than those described above or that solely
affects the par value of such shares of Common Stock), or in the case of any merger or consolidation of us with or into another
corporation (other than a consolidation or merger in which we are the continuing corporation and that does not result in any reclassification
or reorganization of our outstanding shares of Common Stock), or in the case of any sale or conveyance to another corporation
or entity of the assets or other property of us as an entirety or substantially as an entirety in connection with which we are
dissolved, the warrantholders will thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions
specified in the Warrants and in lieu of the shares of Common Stock immediately theretofore purchasable and receivable upon the
exercise of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including
cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such
sale or transfer, that the holder of the Warrants would have received if such holder had exercised their Warrants immediately
prior to such event. If less than 70% of the consideration receivable by the holders of Common Stock in such a transaction is
payable in the form of common stock in the successor entity that is listed for trading on a national securities exchange or is
quoted in an established over-the-counter&nbsp;market, or is to be so listed for trading or quoted immediately following such
event, and if the registered holder of the Warrant properly exercises the Warrant within 30&nbsp;days following public disclosure
of such transaction, the Warrant exercise price will be reduced as specified in the Warrant Agreement based on the Black-Scholes&nbsp;value
(as defined in the Warrant Agreement) of the Warrant. The purpose of such exercise price reduction is to provide additional value
to the warrantholders when an extraordinary transaction occurs during the exercise period of the Warrants, pursuant to which the
warrantholders otherwise do not receive the full potential value of the Warrants in order to determine and realize the option
value component of the Warrant. This formula is to compensate the warrantholder for the loss of the option value portion of the
Warrant due to the requirement that the warrantholder exercise the Warrant within 30&nbsp;days of the event. The Black-Scholes&nbsp;model
is an accepted pricing model for estimating fair market value where no quoted market price for an instrument is available. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 88; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->78<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> We will provide
that annual stockholder meetings will be held at a date, time and place, if any, as exclusively selected by our Board. To the
extent permitted under applicable law, we may conduct meetings by remote communications, including by webcast. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Anti-Takeover Effects of Our Charter and Bylaws and Certain
Provisions of Delaware Law</B> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our Charter and
Bylaws, as well as the DGCL, contain provisions, as summarized in the following paragraphs, that are intended to enhance the likelihood
of continuity and stability in the composition of our Board. These provisions are intended to avoid costly takeover battles, reduce
our vulnerability to a hostile change of control and enhance the ability of our Board to maximize stockholder value in connection
with any unsolicited offer to acquire the Company. However, these provisions may have an anti-takeover&nbsp;effect and may delay,
deter, or prevent a merger or acquisition of the Company by means of a tender offer, a proxy contest or other takeover attempt
that a stockholder might consider in its best interest, including those attempts that might result in a premium over the prevailing
market price for the shares of Common Stock held by our Stockholders. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Delaware law does
not require stockholder approval for any issuance of authorized shares. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> However, the listing
requirements of NASDAQ, which would apply so long as our Common Stock remains listed on the NASDAQ, require stockholder approval
of certain issuances equal to or exceeding 20% of the then-outstanding&nbsp;voting power of our capital stock or the-then&nbsp;outstanding
number of shares of our Common Stock. These additional shares may be used for a variety of corporate purposes, including future
public offerings, to raise additional capital or to facilitate acquisitions. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our authorized
but unissued shares of preferred stock, however, is available for future issuances without stockholder approval and could be utilized
for a variety of corporate purposes, including future offerings to raise additional capital, to facilitate acquisitions and employee
benefit plans. Our Board may generally issue preferred shares on terms calculated to discourage, delay or prevent a change of
control of the Company or the removal of its management. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> One of the effects
of the existence of unissued and unreserved Common Stock or preferred stock may be to enable our Board to issue shares to persons
friendly to current management, which issuance could render more difficult or discourage an attempt to obtain control of the Company
by means of a merger, tender offer, proxy contest or otherwise, and thereby protect the continuity of our management and possibly
deprive our Stockholders of opportunities to sell their shares of Common Stock at prices higher than prevailing market prices. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our Charter provides
that our Board is classified into three classes of directors, with the classes to be as nearly equal in number as possible, and
with each director serving a three-year&nbsp;term. As a result, approximately one-third&nbsp;of our Board will be elected each
year. The classification of directors will have the effect of making it more difficult for stockholders to change the composition
of our Board. Our Charter and Bylaws provide that, subject to any rights of holders of preferred stock to elect additional directors
under specified circumstances, the number of directors will be fixed from time to time exclusively pursuant to a resolution adopted
by the Board. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The Company is
subject to the provisions of Section&nbsp;203 of the DGCL regulating corporate takeovers. This statute prevents certain Delaware
corporations, under certain circumstances, from engaging in a &ldquo;business combination&rdquo; with: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> a stockholder
                                         who owns 20% or more of our outstanding voting stock (otherwise known as an &ldquo;interested
                                         stockholder&rdquo;); </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> an affiliate
                                         of an interested stockholder; or </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> an associate
                                         of an interested stockholder, for three years following the date that the stockholder
                                         became an interested stockholder. </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> A &ldquo;business
combination&rdquo; includes a merger or sale of more than 10% of our assets. However, the above provisions of Section&nbsp;203
do not apply if: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> our
                                         Board approves the transaction that made the stockholder an &ldquo;interested stockholder,&rdquo;
                                         prior to the date of the transaction; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> after
                                         the completion of the transaction that resulted in the stockholder becoming an interested
                                         stockholder, that stockholder owned at least 85% of our voting stock outstanding at the
                                         time the transaction commenced, other than statutorily excluded shares of common stock;
                                         or </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> on or
                                         subsequent to the date of the transaction, the business combination is approved by our
                                         Board and authorized at a meeting of our Stockholders, and not by written consent, by
                                         an affirmative vote of at least two-thirds&nbsp;of the outstanding voting stock not owned
                                         by the interested stockholder. </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"></P>

<!-- Field: Page; Sequence: 89; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->79<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Under the DGCL,
and as provided in our Charter, a director serving on a classified board may be removed by our Stockholders only for cause and only upon the affirmative vote of holders of at least 66 2/3% of the shares of Common Stock entitled to vote generally in the election
of directors if the stockholder parties and their affiliates hold less than 30% of our outstanding shares of Common Stock. In addition, our Charter provides that, subject to the rights
granted to one or more series of preferred stock then outstanding and the rights granted pursuant to the Investor Rights Agreement,
any newly created directorship on our Board that results from an increase in the number of directors and any vacancies on our
Board will be filled only by the affirmative vote of a majority of the remaining directors (other than directors elected by the
holders of any series of preferred stock, voting separately as a series or together with one or more series, as the case may be),
even if less than a quorum, by a sole remaining director or by our Stockholders. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>No Cumulative Voting</I></B> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Under Delaware
law, the right to vote cumulatively does not exist unless our Charter specifically authorizes cumulative voting. Our Charter does
not authorize cumulative voting. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our Charter provides
that special meetings of our Stockholders may be called at any time only by or at the direction of the chief executive officer,
the Board or the chairperson of the Board pursuant to a resolution adopted by a majority of our Board. Our Bylaws prohibit the
conduct of any business at a special meeting other than as specified in the notice for such meeting. These provisions may have
the effect of deferring, delaying or discouraging hostile takeovers, or changes in control or management of the Company. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Requirements for Advance Notification of Director
Nominations and Stockholder Proposals</I></B> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our Bylaws establish
advance notice procedures with respect to stockholder proposals and the nomination of candidates for election as directors, other
than nominations made by or at the direction of the Board or a committee of the Board. In order for any matter to be &ldquo;properly
brought&rdquo; before a meeting, a stockholder must comply with advance notice requirements and provide us with certain information.
Generally, to be timely, a stockholder&rsquo;s notice must be received at our principal executive offices not less than 90&nbsp;days
nor more than 120&nbsp;days prior to the first anniversary date of the immediately preceding annual meeting of stockholders. Our
Bylaws also specify requirements as to the form and content of a stockholder&rsquo;s notice. Our Bylaws allow our Board to adopt
rules and regulations for the conduct of meetings as it deems appropriate, which may have the effect of precluding the conduct
of certain business at a meeting if the rules and regulations are not followed. These provisions may also defer, delay, or discourage
a potential acquirer from conducting a solicitation of proxies to elect the acquirer&rsquo;s own slate of directors or otherwise
attempting to influence or obtain control of us. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Dissenters&rsquo; Rights of Appraisal and Payment</B> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Under the DGCL,
with certain exceptions, our Stockholders have appraisal rights in connection with a merger or consolidation of the Company. Pursuant
to the DGCL, stockholders who properly request and perfect appraisal rights in connection with such merger or consolidation have
the right to receive payment of the fair value of their shares as determined by the Delaware Court of Chancery. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Under the DGCL,
any of our Stockholders may bring an action in our name to procure a judgment in our favor, also known as a derivative action,
provided that the Stockholder bringing the action is a holder of our shares at the time of the transaction to which the action
relates or such Stockholder&rsquo;s stock thereafter devolved by operation of law. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our Charter provides
that unless we consent to the selection of an alternative forum, the Delaware Chancery Court will be the exclusive forum for any
(1)&nbsp;derivative action or proceeding brought on our behalf, (2)&nbsp;action asserting a claim of breach of a fiduciary duty
owed by any director, officer or other employee of ours or our Stockholders, (3)&nbsp;action asserting a claim against our Charter
or our Bylaws, or (4)&nbsp;action asserting a claim against us, our directors, officers or employees governed by the internal
affairs. Our Charter provides that the Delaware Chancery Court is the exclusive jurisdiction for any Stockholder to bring any
action asserting an &ldquo;internal corporate claim&rdquo; as defined in Section&nbsp;115 of the DGCL. In addition, our Charter
provides that the Federal District Courts of the United&nbsp;States of America are the exclusive forum for resolution of any complaint
asserting a cause of action under the Securities Act, or with respect to the offer or sale of our securities. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 90; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->80<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Conflicts 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; text-align: justify; text-indent: 0.25in"> Delaware law permits
corporations to adopt provisions renouncing any interest or expectancy in certain opportunities that are presented to the corporation
or its officers, directors, or stockholders. Our Charter, to the maximum extent permitted from time to time by Delaware law, renounces
any interest or expectancy that we have in, or right to be offered an opportunity to participate in, specified business opportunities
that are from time to time presented to our officers, directors or Stockholders or their respective affiliates, other than those
officers, directors, Stockholders or affiliates who are our or our subsidiaries&rsquo; employees. Our Charter provides that, to
the fullest extent permitted by law, none of the Stockholder parties or any of their affiliates or any director who is not employed
by us (including any non-employee&nbsp;director who serves as one of our officers in both his director and officer capacities)
or his or her affiliates will have any duty to refrain from (1)&nbsp;engaging in a corporate opportunity in the same or similar
lines of business in which we or our affiliates now engage or propose to engage or (2)&nbsp;otherwise competing with us or our
affiliates. In addition, to the fullest extent permitted by law, in the event that any Stockholder party or non-employee&nbsp;director
acquires knowledge of a potential transaction or other business opportunity which may be a corporate opportunity for itself or
himself or its or his affiliates or for us or our affiliates, such person will have no duty to communicate or offer such transaction
or business opportunity to us or any of our affiliates and they may take any such opportunity for themselves or offer it to another
person or entity. Our Charter does not renounce our interest in any business opportunity that is expressly offered to a non-employee&nbsp;director
solely in his or her capacity as a director or officer of the Company. To the fullest extent permitted by law, no business opportunity
is deemed to be a potential corporate opportunity for us unless we would be permitted to undertake the opportunity under our Charter,
we have sufficient financial resources to undertake the opportunity and the opportunity would be in line with our business. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Limitations on Liability and Indemnification of Officers
and Directors</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The DGCL authorizes
corporations to limit or eliminate the personal liability of directors to corporations and their stockholders for monetary damages
for breaches of directors&rsquo; fiduciary duties, subject to certain exceptions. Our Charter includes a provision that eliminates
the personal liability of directors for monetary damages for any breach of fiduciary duty as a director, except to the extent
such exemption from liability or limitation thereof is not permitted under the DGCL. The effect of these provisions is to eliminate
the rights of the Company and our Stockholders, through stockholders&rsquo; derivative suits on our behalf, to recover monetary
damages from a director for breach of fiduciary duty as a director, including breaches resulting from grossly negligent behavior.
However, exculpation does not apply to any director if the director has acted in bad faith, knowingly or intentionally violated
the law, authorized illegal dividends or redemptions or derived an improper benefit from his or her actions as a director. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our Bylaws provide
that we must indemnify and advance expenses to our directors and officers to the fullest extent authorized by the DGCL. We are
also expressly authorized to carry directors&rsquo; and officers&rsquo; liability insurance providing indemnification for our
directors, officers and certain employees for some liabilities. We believe that these indemnification and advancement provisions
and insurance are useful to attract and retain qualified directors and executive officers. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The limitation
of liability, advancement and indemnification provisions in our Charter and Bylaws may discourage our Stockholders from bringing
a lawsuit against directors for breach of their fiduciary duty. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> These provisions
also may have the effect of reducing the likelihood of derivative litigation against directors and officers, even though such
an action, if successful, might otherwise benefit us and our Stockholders. In addition, your investment may be adversely affected
to the extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification
provisions. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> There is currently
no pending material litigation or proceeding involving our directors, officers or employees for which indemnification is sought. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Investor Rights 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-align: justify; text-indent: 0.25in"> In connection
with the consummation of the Merger, we entered into an Investor Rights Agreement with Legacy CuriosityStream, the Sponsor, HFM
and officers and directors of Legacy CuriosityStream. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Under the Investor
Rights Agreement, we agreed to nominate two Sponsor Directors for election as members of our Board if, at such time, the Board
does not contain a Sponsor Director and the Sponsor Entities together continue to beneficially own at least 50% of the shares
of our Common Stock entitled to vote generally in the election of directors as of the date of the consummation of the Business
Combination. Further, under the Investor Rights Agreement, HFM and the officers and directors of Legacy CuriosityStream agreed
to vote in favor of, or otherwise consent to, the election or appointment of a Sponsor Director at any meeting of stockholders
under the terms set forth above. If the Sponsor does not elect to nominate two (2)&nbsp;Sponsor Directors, we will agree to permit
the Sponsor to select one (1)&nbsp;non-voting&nbsp;observer to participate in any Board meeting (including any committee thereof),
for so long as the Sponsor and its Affiliates continue to beneficially own at least 50% of the shares of our Common Stock entitled
to vote generally in the election of directors as of the date of the consummation of the Business Combination. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 91; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->81<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In the case of
a vacancy on our Board created by the death, disability, disqualification, removal or resignation of a Sponsor Director, we agreed
to notify the Sponsor of such vacancy and nominate an individual timely designated by the Sponsor for election to fill the vacancy,
provided that such nomination would not constitute a breach of our Board&rsquo;s breach of its fiduciary duties or applicable
laws. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> For more information,
see &ldquo;<I>Certain Relationship and Related Person Transactions </I>&mdash; <I>Investor Rights Agreement.</I>&rdquo; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>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; text-align: justify; text-indent: 0.25in"> The Company, Legacy
CuriosityStream, the Sponsor, HFM and officers and directors of Legacy CuriosityStream are parties to the Investor Rights Agreement,
dated as of October&nbsp;14, 2020, pursuant to which the Company must provide to Legacy CuriosityStream stockholders, officers
and directors certain customary &ldquo;mandatory,&rdquo; &ldquo;demand&rdquo; and &ldquo;piggyback&rdquo; registration rights
in respect of its Common Stock. For more information, see &ldquo;<I>Certain Relationship and Related Person Transactions.</I>&rdquo; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In addition, the
Company and the Sponsor are parties to the Registration Rights Agreement dated November&nbsp;19, 2019, pursuant to which the Company
must provide to the Sponsor and its permitted transferees certain customary &ldquo;piggyback&rdquo; registration rights in respect
of the Founder Shares and the Private Placement Warrants. On November&nbsp;18, 2020, the Sponsor distributed its Founder Shares
to its members. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Rule&nbsp;144</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Rule&nbsp;144
permits a person who has beneficially owned restricted shares for at least six months to sell their shares provided that: (i)&nbsp;such
person is not deemed to have been one of our affiliates at the time of, or at any time during the three months preceding, a sale
and (ii)&nbsp;the issuer is subject to the Exchange Act periodic reporting requirements for at least three months before the sale.
Persons who have beneficially owned restricted shares for at least six months but who are affiliates of the Company at the time
of, or at any time during the three months preceding, a sale, are subject to additional restrictions, by which such person would
be entitled to sell within any three-month&nbsp;period only a number of shares that does not exceed the greater of either of the
following: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> 1.0%
of the number of shares of Common Stock then outstanding, which is now 525,480&nbsp;shares; and </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> if the
                                         Common Stock is listed on a national securities exchange, the average weekly trading
                                         volume of the shares of Common Stock during the four calendar weeks preceding the filing
                                         of a notice on Form&nbsp;144 with respect to the sale. </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Sales by affiliates
under Rule&nbsp;144 are also limited by manner of sale provisions and notice requirements and to the availability of current public
information about the Company. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Under Rule&nbsp;144,
a person who is not deemed to have been one of the Company&rsquo;s affiliates at the time of or at any time during the three months
preceding a sale, and who has beneficially owned the restricted shares of Common Stock proposed to be sold for at least six months,
including the holding period of any prior owner other than an affiliate, is entitled to sell their shares without complying with
the manner of sale and volume limitation or notice provisions of Rule&nbsp;144. The Company must be current in its public reporting
if the non-affiliate&nbsp;is seeking to sell under Rule&nbsp;144 after holding his or her shares of Common Stock between six months
and one year. After one year, non-affiliates&nbsp;do not have to comply with any other Rule&nbsp;144 requirements. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Notwithstanding
the foregoing, Rule&nbsp;144 is not available for the resale of securities initially issued by companies that are, or previously
were, blank check companies like the Company, to their promoters or affiliates despite technical compliance with the requirements
of Rule&nbsp;144. Rule&nbsp;144 also is not for resale of securities issued by any shell companies (other than business combination
related shell companies) or any issuer that has been at any time previously a shell company. The SEC has provided an exception
to this prohibition, however, if the following conditions are met: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> the
                                         issuer of the securities that was formerly a shell company has ceased to be a shell company; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> the
                                         issuer of the securities is subject to the reporting requirements of Section&nbsp;13
                                         or 15(d) of the Exchange Act; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> the
                                         issuer of the securities has filed all Exchange Act reports and material required to
                                         be filed, as applicable, during the preceding 12&nbsp;months (or such shorter period
                                         that the issuer was required to file such reports and materials), other than Form&nbsp;8-K&nbsp;reports;
                                         and </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"> &#9679; </TD><TD STYLE="text-align: justify"> at least
                                         one year has elapsed from the time that the issuer filed current Form&nbsp;10 type information
                                         with the SEC reflecting its status as an entity that is not a shell company. </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> As a result, none
of our shareholders will be able to sell any shares of Common Stock pursuant to Rule&nbsp;144 until October&nbsp;14, 2021. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>


<!-- Field: Page; Sequence: 92; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->82<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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><A NAME="a_022"></A>SELLING SECURITYHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">This prospectus relates to the resale or distribution from time
to time by the selling securityholders named in this prospectus or their permitted transferees of up to 13,893,093 shares of our
Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The term &ldquo;selling
securityholders&rdquo; includes the securityholders listed in the table below and their permitted transferees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The following
table provides, as of November 20, 2020 (unless as of a later date as indicated in the footnotes), information regarding the beneficial
ownership of our Common Stock by each selling securityholder, the number of shares of our Common Stock that may be sold by each
selling securityholder under this prospectus and that each selling securityholder will beneficially own after this offering. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Because each selling
securityholder may dispose of all, none or some portion of their securities, no estimate can be given as to the number of securities
that will be beneficially owned by a selling securityholder upon termination of this offering. For purposes of the table below,
however, we have assumed that after termination of this offering none of the securities covered by this prospectus will be beneficially
owned by the selling securityholders and further assumed that the selling securityholders will not acquire beneficial ownership
of any additional securities during the offering. In addition, the selling securityholders may have sold, transferred or otherwise
disposed of, or may sell, transfer or otherwise dispose of, at any time and from time to time, our securities in transactions exempt
from the registration requirements of the Securities Act after the date on which the information in the table is presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We may amend or supplement
this prospectus from time to time in the future to update or change this selling securityholders list and the securities that may
be resold.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Please see the section
titled &ldquo;<I>Plan of Distribution</I>&rdquo; for further information regarding the stockholders&rsquo; method of distributing
these shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 6pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Shares of Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 6pt"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Beneficial Ownership<BR>
    Before the Offering </TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Shares to be Sold in<BR>
    Offering </TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Beneficial Ownership<BR>
    After the Offering </TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold"> Name of Selling Securityholder </TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Number of Shares </TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> %(1) </TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Number of Shares </TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> %(1) </TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Number of Shares </TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> % </TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; text-indent: -10pt; padding-left: 10pt"> 211 LV LLC(2) </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 7%; text-align: right"> 1,554,437 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 7%; text-align: right"> 3.0 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 7%; text-align: right"> 1,554,437 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 7%; text-align: right"> 3.0 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 7%; text-align: right"> &mdash; </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 7%; text-align: right"> &mdash; </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> AKN SWAG I, LLC(3) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,554,438 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3.0 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,554,438 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3.0 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Mike Nikzad(4) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 548,625 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1.0 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 548,625 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1.0 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Matthew Olton(41) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 20,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 20,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Stephanie Davis(42) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 20,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 20,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Steven Guggenheimer(43) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 20,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 20,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Peter Diamandis(44) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 20,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 20,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Blum Capital Ventures LLC(5)(40) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,642,122 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3.1 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,642,122 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3.1 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Hendrick Carlson Descendants Trust(6) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,263,171 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 2.4 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,263,171 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 2.4 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Selz Family 2011 Trust(7) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 378,951 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 378,951 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Glenn Krevlin Revocable Trust(8) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 189,476 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 189,476 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Geoffrey T Boisi Revocable Trust(8) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 189,476 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 189,476 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Bruce V Rauner(8) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 189,476 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 189,476 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> FOREST COURT PARTNERS LLCATTN C/O ALPER INVESTMENTS
    INC(9) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 126,317 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 126,317 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> ANDREW M ALPERATTN ALPER INVESTMENTS INC(9) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 126,317 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 126,317 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Bernard T Selz 2008 20 Year CLAT(9) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 126,317 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 126,317 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Bernard T Selz 2008 15 Year CLAT(9) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 126,317 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 126,317 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Bernard Selz Revocable Trust(9) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 126,317 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 126,317 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Tracy Krohn Living Trust(9) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 126,317 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 126,317 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Reiss Capital Management(9) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 126,317 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 126,317 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Alben Hammel Family Trust(10) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 101,054 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 101,054 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> The Scott Trust(11) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 82,106 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 82,106 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Richard Herbst(12) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 63,159 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 63,159 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Maple Tree Partners(12) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 63,159 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 63,159 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> David and Joanne Brauer(13) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 37,895 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 37,895 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Gaspar Living Trust(14) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> John D Nardone(14) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Glenn Krevlin Irrevocable Trust FBO Adam Krevlin(14) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Nina P Krevlin Irrevocable Trust FBO Jill Edinburg(14) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Nina P Krevlin Irrevocable Trust FBO Michael Krevlin(14) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Glenn Krevlin Irrevocable Trust FBO Sam A Krevlin(14) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Richard Himelfarb(45) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Victor Nesi(14) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Samuel Blatchford(14) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 93; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->83<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; width: 40%"> THOMAS WIDENER(15) </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="text-align: left; width: 1%"> &nbsp; </TD><TD STYLE="text-align: right; width: 7%"> 25,263 </TD><TD STYLE="text-align: left; width: 1%"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="text-align: left; width: 1%"> &nbsp; </TD><TD STYLE="text-align: right; width: 7%"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left; width: 1%"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="text-align: left; width: 1%"> &nbsp; </TD><TD STYLE="text-align: right; width: 7%"> 25,263 </TD><TD STYLE="text-align: left; width: 1%"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="text-align: left; width: 1%"> &nbsp; </TD><TD STYLE="text-align: right; width: 7%"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left; width: 1%"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="text-align: left; width: 1%"> &nbsp; </TD><TD STYLE="text-align: right; width: 7%"> &mdash; </TD><TD STYLE="text-align: left; width: 1%"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="text-align: left; width: 1%"> &nbsp; </TD><TD STYLE="text-align: right; width: 7%"> &mdash; </TD><TD STYLE="text-align: left; width: 1%"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Ray E. Newton III(15) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 25,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 25,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> William B Ginsberg(15) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 25,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 25,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> SCOTT KAUFFMAN AND ANGELIQUE KAUFFMAN(16) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 18,948 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 18,948 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> RAYMOND G FALCI AND CONCETTA FALCI(16) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 18,948 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 18,948 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Ockham Capital Partners(16) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 18,948 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 18,948 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> David Rosner(17) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> IMPOSSIBLE GIANT INC(17) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> JONATHAN GLABMAN(17) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Sandra Schlemm(17) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> ESKANAZY FAMILY LP(17) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> ADAM SCHWARTZ REV TRUST(17) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Tom Ritchie(17) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> David Karp Revocable Trust(17) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Gary Kittay(17) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Richard (Rick) Cudahy(18)(37) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 8,842 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 8,842 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> ANDREW GLENN AND RISA GLENN(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> KUNAL GROVER(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> STEVEN G WARSHAVSKY(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> GEORGE MAZIN AND TRUDY MAZIN(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> RAYMOND BROWN AND MICHELLE ESKENGREN-BROWN(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> KATHRYN A WILLIAMS(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Warren S Beardsley Irrev Trust(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Robert K. Eland(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> New Oyster Holdings LLC(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Kerry McKeon(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Inger G Ginsberg(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Anthony Carpenito - Abrams Capital(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Ted Chan(20) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,158 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,158 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Karen P Restaino(20) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,158 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,158 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> ACO 2008 Family Trust FBO Joel Ornstein(20) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,158 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,158 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> ACO 2008 Family Trust FBO Jason Ornstein(20) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,158 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,158 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> ACO 2008 Family Trust FBO Stacey Ornstein(20) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,158 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,158 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> LNST Company LLC(20) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,158 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,158 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> NHST Company LLC(20) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,158 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,158 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Matthew Geraty(20) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,158 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,158 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Donald Schupak(21) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,894 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,894 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Joseph Lord III(21) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,894 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,894 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> MICHAELA CUDAHY AND PAUL LAWLESS(21)(38) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,894 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,894 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Richard D Cudahy Living Trust(22)(37) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Ronald Kruszewski(14) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Ira Malis(17) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Hugo Warns III(13) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 37,895 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 37,895 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Charles Raymond(17) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Joel Marcus(15) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 25,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 25,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> RICHARD S CONEN(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> NICHOLAS EMMANUEL(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> BRUCE SLOVIN Revocable Trust(17) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> PETER J WHITE(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> TIMOTHY A BURKE ANDNANCY I BURKE(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Newman Parks Family Living Trust(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Andrew C Swallow and Laura Swallow(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> The Larry Cannon Family Trust(17) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Karl Kurz(17) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Janet Cudahy(22)(39) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Michael Sullivan(14) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Patrick Donnelly(14) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> The Westley Revocable Trust(19)(46) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Chester Thomas(15) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 25,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 25,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Paul and Donna Abrams Rev Living Trust(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Global Horizons LLC(14) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 94; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->84<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; text-align: left; text-indent: -10pt; padding-left: 10pt"> Joshua &amp; Lydia Bledsoe Qualified Spousal
    Trust(23) </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 7%; text-align: right"> 2,527 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 7%; text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 7%; text-align: right"> 2,527 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 7%; text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 7%; text-align: right"> &mdash; </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 7%; text-align: right"> &mdash; </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Stifel Long(22) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Robert Johnson(15) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 25,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 25,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> G.U.M. LLC(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Brant &amp; Heather Baldanza(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Laurence Shadek(17) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 12,632 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Mark and Sandra Pearlstone TTEES Qualified Spousal
    Trust(19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Duck Pond Partners LP(14) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,579 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Richard Henley Montgomery III Irrev Trust(15) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 25,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 25,263 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Stephan &amp; Wendy Kuppenheimer(24) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 15,789 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 15,789 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Joshua &amp; Lydia Bledsoe Qualified Spousal Trust(25) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,790 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,790 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Great American Insurance Company(26) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 505,268 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1.0 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 505,268 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1.0 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Great American Life Insurance Company(26) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 505,268 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1.0 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 505,268 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1.0 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> GuideStone Fund&nbsp;&nbsp;Small Cap Equity Fund(27) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 247,076 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 247,076 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> American Legacy Fund(28) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 22,990 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 22,990 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Kemper and Ethel Marley Foundation(29) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 29,053 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 29,053 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> PCFG Equity Fund LTD(30) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 5,432 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 5,432 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Prudential Retirement Insurance and Annuity Company(31) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,075,211 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 2.0 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,075,211 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 2.0 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> AMG TimesSquare Small Cap Growth Fund(32) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,146,580 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 2.2 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,146,580 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 2.2 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Stifel Financial(33) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 132,633 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 132,633 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Capitol Broadcasting Company, Inc.(34) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 252,634 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 252,634 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> John Risinger(35) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 9,211 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 9,211 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"> Claire Bur(36) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 576 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 576 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Himelfarb 2012 Family Trust No. 1 (47) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 15,166 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 15,166 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Himelfarb 2012 Family Trust No. 2 (47) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 15,166 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 15,166 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> David Toepel (19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Paul Dell&rsquo;Isola (19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> James Neuhauser (19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Brian Anderson (19) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,316 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
</TABLE>
<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -24pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="border-top: Black 1.5pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -24pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in; text-align: left">*</TD><TD STYLE="text-align: justify">Less than one percent.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Based
                                         on 52,548,000</FONT> <FONT STYLE="font-size: 10pt">shares of Common Stock outstanding
                                         as of March 26, 2021.</FONT> </TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in">(2)</TD><TD STYLE="text-align: justify">Includes 953,062 shares subject to vesting based on the achievement of certain share price
                                                             hurdles. 211 LV LLC is the record holder of 601,375 of these shares. Jonathan Huberman, a member of the Company&rsquo;s Board
                                                             and the Company&rsquo;s former Chief Executive Officer, Chief Financial Officer and Chairman, is a manager of 211 LV LLC. As
                                                             such, he may be deemed to have or share voting and dispositive power of the shares held directly by 211 LV LLC. Mr. Huberman
                                                             disclaims any beneficial ownership of these reported shares other than to the extent of any pecuniary interest he may have
                                                             therein, directly or indirectly.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in">(3)</TD><TD STYLE="text-align: justify">Includes 953,063 shares subject to vesting based on the achievement
of certain share price hurdles. AKN SWAG I, LLC is the record holder of these shares. Andrew Nikou, a member of the Company&rsquo;s
Board from November 2019 through October 14, 2020, is a manager of AKN SWAG I, LLC. As such, he may be deemed to have or share
voting and dispositive power of the shares held directly by AKN SWAG I, LLC. Mr. Nikou disclaims any beneficial ownership of these
reported shares other than to the extent of any pecuniary interest he may have therein, directly or indirectly.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in">(4)</TD><TD STYLE="text-align: justify">Includes 336,375 shares subject to vesting based on the achievement of certain share price hurdles.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(5)</FONT></TD><TD STYLE="text-align: justify">Includes 79,184 shares held in an escrow account, certain of which will be held in escrow until
October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital
calculations related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(6)</FONT></TD><TD STYLE="text-align: justify">Includes 60,911 shares held in an escrow account, certain of which will be held in escrow until
October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital
calculations related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(7)</FONT></TD><TD STYLE="text-align: justify">Includes 18,273 shares held in an escrow account, certain of which will be held in escrow until
October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital
calculations related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(8)</FONT></TD><TD STYLE="text-align: justify">Includes 9,137 shares held in an escrow account, certain of which will be held in escrow until
October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital
calculations related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(9)</FONT></TD><TD STYLE="text-align: justify">Includes 6,091 shares held in an escrow account, certain of which will be held in escrow until
October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital
calculations related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(10)</FONT></TD><TD STYLE="text-align: justify">Includes 4,873 shares held in an escrow account, certain of which will be held in escrow until
October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital
calculations related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(11)</FONT></TD><TD STYLE="text-align: justify">Includes 3,959 shares held in an escrow account, certain of which will be held in escrow until
October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital
calculations related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(12)</FONT></TD><TD STYLE="text-align: justify">Includes 3,046 shares held in an escrow account, certain of which will be held in escrow until
October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital
calculations related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(13)</FONT></TD><TD STYLE="text-align: justify">Includes 1,827 shares held in an escrow account, certain of which will be held in escrow until
October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital
calculations related to the Merger.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<!-- Field: Page; Sequence: 95; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->85<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(14)</FONT></TD><TD STYLE="text-align: justify">Includes 1,523 shares held in an escrow account, certain of which will be held in escrow until
October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital
calculations related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(15)</FONT></TD><TD STYLE="text-align: justify">Includes 1,218 shares held in an escrow account, certain of which will be held in escrow until
October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital
calculations related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(16)</FONT></TD><TD STYLE="text-align: justify">Includes 914 shares held in an escrow account, certain of which will be held in escrow until October
14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital calculations
related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(17)</FONT></TD><TD STYLE="text-align: justify">Includes 609 shares held in an escrow account, certain of which will be held in escrow until October
14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital calculations
related to the Merger.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(18)</FONT></TD><TD STYLE="text-align: justify">Includes 426 shares held in an escrow account, certain of which will be held in escrow until October
14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital calculations
related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(19)</FONT></TD><TD STYLE="text-align: justify">Includes 305 shares held in an escrow account, certain of which will be held in escrow until October
14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital calculations
related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(20)</FONT></TD><TD STYLE="text-align: justify">Includes 152 shares held in an escrow account, certain of which will be held in escrow until October
14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital calculations
related to the Merger.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(21)</FONT></TD><TD STYLE="text-align: justify">Includes 91 shares held in an escrow account, certain of which will be held in escrow until October
14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital calculations
related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(22)</FONT></TD><TD STYLE="text-align: justify">Includes 61 shares held in an escrow account, certain of which will be held in escrow until October
14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital calculations
related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(23)</FONT></TD><TD STYLE="text-align: justify">Includes 122 shares held in an escrow account, certain of which will be held in escrow until October
14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital calculations
related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(24)</FONT></TD><TD STYLE="text-align: justify">Includes 761 shares held in an escrow account, certain of which will be held in escrow until October
14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital calculations
related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(25)</FONT></TD><TD STYLE="text-align: justify">Includes 183 shares held in an escrow account, certain of which will be held in escrow until October
14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital calculations
related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(26)</FONT></TD><TD STYLE="text-align: justify">Includes 24,364 shares held in an escrow account, certain of which will be held in escrow until
October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital
calculations related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(27)</FONT></TD><TD STYLE="text-align: justify">Includes 11,914 shares held in an escrow account, certain of which will be held in escrow until
October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital
calculations related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(28)</FONT></TD><TD STYLE="text-align: justify">Includes 1,109 shares held in an escrow account, certain of which will be held in escrow until
October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital
calculations related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(29)</FONT></TD><TD STYLE="text-align: justify">Includes 1,401 shares held in an escrow account, certain of which will be held in escrow until
October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital
calculations related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(30)</FONT></TD><TD STYLE="text-align: justify">Includes 262 shares held in an escrow account, certain of which will be held in escrow until October
14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital calculations
related to the Merger.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(31)</FONT></TD><TD STYLE="text-align: justify">Includes 51,847 shares held in an escrow account, certain of which will be held in escrow until
October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital
calculations related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(32)</FONT></TD><TD STYLE="text-align: justify">Includes 55,288 shares held in an escrow account, certain of which will be held in escrow until
October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital
calculations related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(33)</FONT></TD><TD STYLE="text-align: justify">Includes 6,396 shares held in an escrow account, certain of which will be held in escrow until
October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital
calculations related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(34)</FONT></TD><TD STYLE="text-align: justify">Includes 12,182 shares held in an escrow account, certain of
which will be held in escrow until October 14, 2021 to satisfy indemnification obligations and certain of which will be held in
escrow pending final working capital calculations related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(35)</FONT></TD><TD STYLE="text-align: justify">Includes 444 shares held in an escrow account, certain of which
will be held in escrow until October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow
pending final working capital calculations related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(36)</FONT></TD><TD STYLE="text-align: justify">Includes 28 shares held in an escrow account, certain of which will be held in escrow until October
14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital calculations
related to the Merger.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(37)</FONT></TD><TD STYLE="text-align: justify">Rick Cudahy is the brother of Tia Cudahy, the Company&rsquo;s Chief Operating Officer and General
Counsel.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(38)</FONT></TD><TD STYLE="text-align: justify">Michaela Cudahy and Paul Lawless are the sister and brother-in-law of Tia Cudahy, the Company&rsquo;s
Chief Operating Officer and General Counsel.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(39)</FONT></TD><TD STYLE="text-align: justify">Janet Cudahy is the stepmother of Tia Cudahy, the Company&rsquo;s Chief Operating Officer and General
Counsel.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(40)</FONT></TD><TD STYLE="text-align: justify">Richard Blum, managing member of Blum Capital Ventures LLC, was a member of the board of directors
of CuriosityStream Operating Inc. from 2018 until July 29, 2020.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(41)</FONT></TD><TD STYLE="text-align: justify">Matthew Olton was a member of the board of directors of SAQN
from November 2019 until October 14, 2020.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(42)</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stephanie Davis was a member of the board of directors of SAQN from November 2019 until October 14, 2020.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(43)</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Steven Guggenheimer was a member of the board of directors of SAQN from November 2019 until October 14, 2020.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(44)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Peter Diamandis was a member of the board of directors of SAQN from November 2019 until October 14, 2020.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(45)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes 61 shares held in an escrow account, certain of which will be held in escrow until October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital calculations related to the Merger.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(46)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Peter Westley, trustee of The Westley Revocable Trust, was a board observer on the Board of Directors of CuriosityStream Operating Inc. from March 2019 until August 2020.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(47)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes 731 shares held in an escrow account, certain of which will be held in escrow until October 14, 2021 to satisfy indemnification obligations and certain of which will be held in escrow pending final working capital calculations related to the Merger.</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"><B>Material Relationships with the Selling Securityholders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">For a description of
our relationships with the selling securityholders and their affiliates not discussed above see the sections entitled <I>&ldquo;Business
Combination,&rdquo; </I>&ldquo;<I>Management,</I>&rdquo; &ldquo;<I>Certain Relationships and Related Transactions</I>&rdquo; and
&ldquo;<I>Executive Compensation.</I>&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>


<!-- Field: Page; Sequence: 96; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->86<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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><A NAME="a_023"></A>PLAN OF DISTRIBUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The selling securityholders,
which as used herein includes donees, pledgees, transferees or other successors-in-interest selling shares of our Common Stock
or interests in shares of our Common Stock received after the date of this prospectus from a selling securityholder as a gift,
pledge, partnership distribution or other transfer, may, from time to time, sell, transfer or otherwise dispose of any or all of
their shares of our Common Stock or interests in shares of our Common Stock on any stock exchange, market or trading facility on
which the or shares are traded or in private transactions. These dispositions may be at fixed prices, at prevailing market prices
at the time of sale, at prices related to the prevailing market price, at varying prices determined at the time of sale, or at
negotiated prices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The selling securityholders
may use any one or more of the following methods when disposing of shares or interests therein:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">ordinary brokerage transactions and transactions in which
the broker-dealer solicits purchasers;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">block trades in which the broker-dealer will attempt
to sell the shares as agent, but may position and resell a portion of the block as principal to facilitate the transaction;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">purchases by a broker-dealer as principal and resale
by the broker-dealer for their account;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">an exchange distribution in accordance with the rules
of the applicable exchange;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">privately negotiated transactions;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">short sales effected after the date the registration
statement of which this prospectus is a part is declared effective by the SEC;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">through the writing or settlement of options or other
hedging transactions, whether through an options exchange or otherwise;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">broker-dealers may agree with the selling securityholders
to sell a specified number of such shares at a stipulated price per share;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">a combination of any such methods of sale; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">any other method permitted by applicable law.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In addition, a selling
securityholder that is an entity may elect to make an in-kind distribution of securities to its members, partners or stockholders
pursuant to the registration statement of which this prospectus is a part by delivering a prospectus with a plan of distribution.
Such members, partners or stockholders would thereby receive freely tradeable securities pursuant to the distribution through a
registration statement. To the extent a distributee is an affiliate of ours (or to the extent otherwise required by law), we may
file a prospectus supplement in order to permit the distributees to use the prospectus to resell the securities acquired in the
distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The selling securityholders
may, from time to time, pledge or grant a security interest in some or all of the shares of our Common Stock owned by them and,
if they default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the shares
of our Common Stock, from time to time, under this prospectus, or under an amendment to this prospectus under Rule&nbsp;424(b)(3)
or other applicable provision of the Securities Act amending the list of selling securityholders to include the pledgee, transferee
or other successors in interest as selling securityholders under this prospectus. The selling securityholders also may transfer
the shares of our Common Stock in other circumstances, in which case the transferees, pledgees or other successors in interest
will be the selling beneficial owners for purposes of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In connection with the
sale of shares of our Common Stock or interests therein, the selling securityholders may enter into hedging transactions with broker-dealers
or other financial institutions, which may in turn engage in short sales of the shares of our Common Stock in the course of hedging
the positions they assume. The selling securityholders may also sell shares of our Common Stock short and deliver these securities
to close out their short positions, or loan or pledge the shares of our Common Stock to broker-dealers that in turn may sell these
securities. The selling securityholders may also enter into option or other transactions with broker-dealers or other financial
institutions or the creation of one or more derivative securities which require the delivery to such broker-dealer or other financial
institution of shares offered by this prospectus, which shares such broker-dealer or other financial institution may resell pursuant
to this prospectus (as supplemented or amended to reflect such transaction).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>


<!-- Field: Page; Sequence: 97; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->87<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The aggregate proceeds
to the selling securityholders from the sale of the Common Stock offered by them will be the purchase price of the Common Stock
less discounts or commissions, if any. Each of the selling securityholders reserves the right to accept and, together with their
agents from time to time, to reject, in whole or in part, any proposed purchase of Common Stock to be made directly or through
agents. We will not receive any of the proceeds from this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The selling securityholders
and any underwriters, broker-dealers or agents that participate in the sale of the Common Stock or interests therein may be &ldquo;underwriters&rdquo;
within the meaning of Section&nbsp;2(11) of the Securities Act. Any discounts, commissions, concessions or profit they earn on
any resale of the shares may be underwriting discounts and commissions under the Securities Act. Selling securityholders who are
&ldquo;underwriters&rdquo; within the meaning of Section&nbsp;2(11) of the Securities Act will be subject to the prospectus delivery
requirements of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">To the extent required,
the shares of our Common Stock to be sold, the names of the selling securityholders, the respective purchase prices and public
offering prices, the names of any agents, dealer or underwriter, any applicable commissions or discounts with respect to a particular
offer will be set forth in an accompanying prospectus supplement or, if appropriate, a post-effective amendment to the registration
statement that includes this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In order to comply with
the securities laws of some states, if applicable, the Common Stock may be sold in these jurisdictions only through registered
or licensed brokers or dealers. In addition, in some states the Common Stock may not be sold unless they have been registered or
qualified for sale or an exemption from registration or qualification requirements is available and is complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We have advised the
selling securityholders that the anti-manipulation rules of Regulation M under the Exchange Act may apply to sales of shares in
the market and to the activities of the selling securityholders and their affiliates. In addition, to the extent applicable we
will make copies of this prospectus (as it may be supplemented or amended from time to time) available to the selling securityholders
for the purpose of satisfying the prospectus delivery requirements of the Securities Act. The selling securityholders may indemnify
any broker-dealer that participates in transactions involving the sale of the shares against certain liabilities, including liabilities
arising under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We have agreed to indemnify
the selling securityholders against liabilities, including liabilities under the Securities Act and state securities laws, relating
to the registration of the shares offered by this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We have agreed with
the selling securityholders to keep the registration statement of which this prospectus constitutes a part effective until such
time as all of the shares covered by this prospectus have been disposed of pursuant to and in accordance with the registration
statement or such securities have been withdrawn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>


<!-- Field: Page; Sequence: 98; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->88<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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><A NAME="a_024"></A>UNITED STATES FEDERAL INCOME TAX CONSIDERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The following is a discussion
of certain material U.S. federal income tax consequences of the acquisition, ownership and disposition of our common stock subject
to this registration, which we refer to as our securities. This discussion applies only to securities that are held as capital
assets for U.S. federal income tax purposes (generally, property held for investment) and is applicable only to holders who received
our securities in the Business Combination and holders who received our securities from the Sponsor in respect of their membership
interests in the Sponsor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">This discussion is a
summary only and does not describe all of the tax consequences that may be relevant to you in light of your particular circumstances.
This discussion does not address any tax consequences arising under U.S. alternative minimum tax rules, any consequences resulting
from U.S. federal tax laws other than income tax laws (such as estate or gift tax laws or the Medicare tax on certain investment
income), the tax laws of any U.S. state or locality, any non-U.S. tax laws or considerations under any applicable income tax treaty
(except as expressly specified below). Further, this discussion is general in nature and does not address all aspects of U.S. federal
income taxation that may be relevant to you in light of your particular circumstances or that may be applicable to you if you are
subject to special treatment under the U.S. federal income tax laws, including but not limited to, if you are:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">a bank, financial institution or financial services entity;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">a broker-dealer;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">a government or agency or instrumentality thereof;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">a regulated investment company;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">a real estate investment trust;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">an expatriate or former long-term resident of the United&nbsp;States;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">a person that actually or constructively owns 5% or more
of our voting shares;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">an insurance company;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">a dealer or trader subject to a mark-to-market method
of accounting with respect to the securities;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">a person holding the securities as part of a &ldquo;straddle,&rdquo;
hedge, integrated transaction or similar transaction;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">a U.S. holder (as defined below) whose functional currency
is not the U.S. dollar;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">a person required to accelerate the recognition of any
item of gross income with respect to our common stock as a result of such income being recognized on an applicable financial statement;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">an S-corporation, partnership or other pass-through entity
for U.S. federal income tax purposes and any beneficial owners of such an entity;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">a person who holds or receives our common stock pursuant
to the exercise of any employee stock option or otherwise as compensation; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">a tax-exempt organization.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">This discussion is based
on the U.S. Internal Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;), and administrative pronouncements, judicial decisions
and final, temporary and proposed regulations promulgated by the U.S. Department of the Treasury pursuant to the Code (&ldquo;Treasury
Regulations&rdquo;) as of the date hereof, which are subject to change, possibly on a retroactive basis, and changes to any of
which subsequent to the date of this prospectus may affect the tax consequences described herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We have not sought,
and will not seek, a ruling from the U.S. Internal Revenue Service (&ldquo;IRS&rdquo;) as to any U.S. federal income tax consequence
described herein. The IRS may disagree with the discussion herein, and such disagreement by the IRS may be upheld by a court. Moreover,
there can be no assurance that future legislation, regulations, administrative rulings or court decisions will not adversely affect
the accuracy of the statements in this discussion. You are urged to consult your tax advisor with respect to the application of
U.S. federal tax laws to your particular situation, as well as any tax consequences arising under the laws of any state, local
or non-U.S. jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>


<!-- Field: Page; Sequence: 99; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->89<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">This discussion does
not consider the tax treatment of an entity or an arrangement treated as a partnership or other pass-through entities for U.S.
federal income tax purposes or persons who hold our securities through such entities or arrangements. If an entity or arrangement
classified as a partnership or other pass-through entity for U.S. federal income tax purposes is the beneficial owner of our securities,
the U.S. federal income tax treatment of a partner or member in the partnership or other pass-through entity generally will depend
on the status of the partner or member and the activities of the partnership or other pass-through entity. If you are a partner
or member of a partnership or other pass-through entity holding our securities, we urge you to consult your own tax advisor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>THIS DISCUSSION IS
ONLY A SUMMARY OF CERTAIN U.S. FEDERAL INCOME TAX CONSIDERATIONS ASSOCIATED WITH THE ACQUISITION, OWNERSHIP AND DISPOSITION OF
OUR SECURITIES. EACH PROSPECTIVE INVESTOR IN OUR SECURITIES IS URGED TO CONSULT ITS OWN TAX ADVISOR WITH RESPECT TO THE PARTICULAR
TAX CONSEQUENCES TO SUCH INVESTOR OF THE ACQUISITION, OWNERSHIP AND DISPOSITION OF OUR SECURITIES, INCLUDING THE APPLICABILITY
AND EFFECT OF ANY U.S. FEDERAL NON-INCOME, STATE, LOCAL, AND NON-U.S. TAX LAWS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>U.S. Holders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">This section applies
to you if you are a &ldquo;U.S. holder.&rdquo; A U.S. holder is a beneficial owner of our shares of common stock who or that is,
for U.S. federal income tax purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">an individual who is a citizen or resident of the United&nbsp;States;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">a corporation (or other entity taxable as a corporation
for U.S. federal income tax purposes) organized in or under the laws of the United&nbsp;States, any state thereof or the District
of Columbia;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">an estate the income of which is includible in gross
income for U.S. federal income tax purposes regardless of its source; or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">a trust, if (i)&nbsp;a court within the United&nbsp;States
is able to exercise primary supervision over the administration of the trust and one or more United&nbsp;States persons (as defined
in the Code) have authority to control all substantial decisions of the trust or (ii)&nbsp;it has a valid election in effect under
Treasury Regulations to be treated as a United&nbsp;States person.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Taxation of Distributions.&nbsp;</I>If
we pay distributions in cash or other property (other than certain distributions of our stock or rights to acquire our stock) to
U.S. holders of shares of our common stock, such distributions generally will constitute dividends for U.S. federal income tax
purposes to the extent paid from our current or accumulated earnings and profits, as determined under U.S. federal income tax principles.
Distributions in excess of current and accumulated earnings and profits will constitute a return of capital that will be applied
against and reduce (but not below zero) the U.S. holder&rsquo;s adjusted tax basis in our common stock. Any remaining excess will
be treated as gain realized on the sale or other disposition of the common stock and will be treated as described under &ldquo;U.S.
Holders&nbsp;&mdash; Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Common Stock&rdquo; below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Dividends we pay to
a U.S. holder that is a taxable corporation generally will qualify for the dividends received deduction if the requisite holding
period is satisfied. With certain exceptions (including, but not limited to, dividends treated as investment income for purposes
of investment interest deduction limitations), and provided certain holding period requirements are met, dividends we pay to a
non-corporate U.S. holder may constitute &ldquo;qualified dividends&rdquo; that will be subject to U.S. federal income tax at the
maximum tax rate accorded to long-term capital gains. If the holding period requirements are not satisfied, then a U.S. holder
that is a taxable corporation may not be able to qualify for the dividends received deduction and would have taxable income equal
to the entire dividend amount, and a non-corporate U.S. holder may be subject to tax on such dividend at regular ordinary income
tax rates instead of the preferential rate that applies to qualified dividend income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Gain or Loss on Sale,
Taxable Exchange or Other Taxable Disposition of Common Stock.&nbsp;</I>Upon a sale or other taxable disposition
of our common stock, a U.S. holder generally will recognize capital gain or loss in an amount equal to the difference between the
amount realized (generally, the sum of the amount of cash and the fair market value of any other property received in such disposition)
and the U.S. holder&rsquo;s adjusted tax basis in the common stock. Any such capital gain or loss generally will be long-term capital
gain or loss if the U.S. holder&rsquo;s holding period for the common stock so disposed of exceeds one year. If such one-year holding
period is not satisfied, any gain on a sale or taxable disposition of the common stock would be subject to short-term capital gain
treatment and would be taxed at regular ordinary income tax rates. Long-term capital gains recognized by non-corporate U.S. holders
will be eligible to be taxed at reduced rates. The deductibility of capital losses is subject to limitations. A U.S. holder&rsquo;s
adjusted tax basis in its common stock generally will equal the U.S. holder&rsquo;s acquisition cost for the common stock (or any
predecessor stock in a nonrecognition transaction), less any prior distributions treated as a return of capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 100; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->90<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Information Reporting
and Backup Withholding.&nbsp;</I>In general, information reporting requirements may apply to dividends paid to
a U.S. holder and to the proceeds of the sale or other disposition of our shares of common stock, unless the U.S. holder is an
exempt recipient. Backup withholding may apply to such payments if the U.S. holder fails to provide a taxpayer identification number,
a certification of exempt status or has been notified by the IRS that it is subject to backup withholding (and such notification
has not been withdrawn).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Any amounts withheld
under the backup withholding rules generally should be allowed as a refund or a credit against a U.S. holder&rsquo;s U.S. federal
income tax liability provided the required information is timely furnished to the IRS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Non-U.S. Holders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">This section applies
to you if you are a &ldquo;non-U.S. holder.&rdquo; As used herein, the term &ldquo;non-U.S. holder&rdquo; means a beneficial owner
of our shares of common stock (other than a partnership or other entity or arrangement classified as a partnership for U.S. federal
income tax purposes) that is not a U.S. holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Taxation of Distributions.&nbsp;</I>In
general, any distributions we make to a non-U.S. holder of shares of our common stock, to the extent paid out of our current or
accumulated earnings and profits (as determined under U.S. federal income tax principles), will constitute dividends for U.S. federal
income tax purposes and, provided such dividends are not effectively connected with the non-U.S. holder&rsquo;s conduct of a trade
or business within the United&nbsp;States, we will be required to withhold tax from the gross amount of the dividend at a rate
of 30%, unless such non-U.S. holder is eligible for a reduced rate of withholding tax under an applicable income tax treaty and
provides proper certification of its eligibility for such reduced rate (usually on an IRS Form&nbsp;W-8BEN or IRS Form&nbsp;W-8BEN-E).
Any distribution not constituting a dividend will be treated first as reducing (but not below zero) the non-U.S. holder&rsquo;s
adjusted tax basis in its shares of our common stock and, to the extent such distribution exceeds the non-U.S. holder&rsquo;s adjusted
tax basis, as gain realized from the sale or other disposition of the common stock, which will be treated as described under &ldquo;Non-U.S.
Holders&nbsp;&mdash; Gain on Sale, Taxable Exchange or Other Taxable Disposition of Common Stock&rdquo; below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The withholding tax
does not apply to dividends paid to a non-U.S. holder who provides an IRS Form&nbsp;W-8ECI, certifying that the dividends are effectively
connected with the non-U.S. holder&rsquo;s conduct of a trade or business within the United&nbsp;States. Instead, such dividends
will be subject to regular U.S. federal income tax as if the non-U.S. holder were a U.S. resident, subject to an applicable income
tax treaty providing otherwise. A non-U.S. corporation receiving such dividends may also be subject to an additional &ldquo;branch
profits tax&rdquo; imposed at a rate of 30% (or a reduced rate under an applicable income tax treaty).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Gain on Sale, Taxable
Exchange or Other Taxable Disposition of Common Stock.&nbsp;</I>A non-U.S. holder generally will not be subject
to U.S. federal income or withholding tax in respect of gain recognized on a sale, taxable exchange or other taxable disposition
of our common stock, unless:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the gain is effectively connected with the conduct of
a trade or business by the non-U.S. holder within the United&nbsp;States (and, under certain income tax treaties, is attributable
to a permanent establishment or fixed base maintained by the non-U.S. holder in the United&nbsp;States);</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the non-U.S. holder is a nonresident alien individual
present in the United&nbsp;States for 183&nbsp;days or more during the taxable year of the disposition and certain other requirements
are met; or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">we are or have been a &ldquo;U.S. real property holding
corporation&rdquo; for U.S. federal income tax purposes at any time during the shorter of the five-year period ending on the date
of disposition or the period that the non-U.S. holder held our common stock, and, in the case where shares of our common stock
are regularly traded on an established securities market, the non-U.S. holder has owned, directly or constructively, more than
5% of our common stock at any time within the shorter of the five-year period preceding the disposition or such non-U.S. holder&rsquo;s
holding period for the shares of our common stock. There can be no assurance that our common stock will be treated as regularly
traded on an established securities market for this purpose.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 101; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->91<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Unless an applicable
treaty provides otherwise, gain described in the first bullet point above will be subject to tax at generally applicable U.S. federal
income tax rates as if the non-U.S. holder were a U.S. resident. Any gains described in the first bullet point above of a non-U.S.
holder that is a non-U.S. corporation may also be subject to an additional &ldquo;branch profits tax&rdquo; at a 30% rate (or a
reduced rate under an applicable income tax treaty).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">A non-U.S. holder described
in the second bullet point above will be subject to U.S. federal income tax at a rate of 30% (or a reduced rate under an applicable
income tax treaty) on any gain derived from the disposition, which may be offset by U.S. source capital losses of the non-U.S.
holder (even though the individual is not considered a resident of the United&nbsp;States), provided the non-U.S. holder has timely
filed U.S. federal income tax returns with respect to such losses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">If the third bullet
point above applies to a non-U.S. holder, gain recognized by such holder on the sale, exchange or other disposition of our common
stock will be subject to tax at generally applicable U.S. federal income tax rates. In addition, a buyer of our common stock from
such holder may be required to withhold U.S. federal income tax at a rate of 15% of the amount realized upon such disposition.
We do not believe that we are or have been a U.S. real property holding corporation. However, such determination is factual in
nature and subject to change and no assurance can be provided as to whether we are or will be a U.S. real property holding corporation
at any future time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Information Reporting
and Backup Withholding.&nbsp;</I>Information returns will be filed with the IRS in connection with payments of
dividends and the proceeds from a sale or other disposition of our shares of common stock. A non-U.S. holder may have to comply
with certification procedures to establish that it is not a United&nbsp;States person in order to avoid information reporting and
backup withholding requirements. The certification procedures required to claim a reduced rate of withholding under a treaty will
satisfy the certification requirements necessary to avoid the backup withholding as well. The amount of any backup withholding
from a payment to a non-U.S. holder will be allowed as a credit against such holder&rsquo;s U.S. federal income tax liability and
may entitle such holder to a refund, provided that the required information is timely furnished to the IRS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>FATCA.</I>&nbsp;In
accordance with Sections&nbsp;1471 to 1474 of the Code (commonly referred to as the Foreign Account Tax Compliance Act, or FATCA),
a 30% U.S. federal withholding tax may apply to any dividend (including constructive dividends) on our common stock paid to (i)&nbsp;a
&ldquo;foreign financial institution&rdquo; (as specifically defined in FATCA), whether such foreign financial institution is the
beneficial owner or an intermediary, unless such foreign financial institution agrees to verify, report and disclose its United&nbsp;States
&ldquo;account&rdquo; holders (as specifically defined in FATCA) and meets certain other specified requirements or (ii)&nbsp;a
non-financial foreign entity, whether such non-financial foreign entity is the beneficial owner or an intermediary, unless such
entity provides a certification that the beneficial owner of the payment does not have any substantial United&nbsp;States owners
or provides the name, address and taxpayer identification number of each such substantial United&nbsp;States owner and certain
other specified requirements are met. In certain cases, the relevant foreign financial institution or non-financial foreign entity
may qualify for an exemption from, or be deemed to be in compliance with, these rules. Prospective investors should consult their
tax advisors regarding the effects of FATCA on their investment in our securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>




<!-- Field: Page; Sequence: 102; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->92<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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><A NAME="a_025"></A>LEGAL MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The validity of the
securities offered by this Prospectus have been passed upon for us by Arnold&nbsp;&amp; Porter Kaye Scholer LLP, New&nbsp;York,
New&nbsp;York.</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><A NAME="a_026"></A>EXPERTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The consolidated financial
statements of CuriosityStream Inc. at December 31, 2020 and 2019, and for each of the two years in the period ended December 31, 2020,
appearing in this Prospectus and Registration Statement have been audited by Ernst &amp; Young LLP, independent registered public accounting
firm, as set forth in their report thereon appearing elsewhere herein, and are included in reliance upon such report given on the authority
of such firm as experts in accounting and auditing. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_027"></A><B>WHERE YOU CAN FIND MORE INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We have filed with the
SEC a registration statement on Form&nbsp;S-1 under the Securities Act with respect to the securities offered by this Prospectus.
This Prospectus does not contain all of the information included in the registration statement. For further information pertaining
to us and our securities you should refer to the registration statement and our exhibits. Statements contained in this Prospectus
concerning any of our contracts, agreements or other documents are not necessarily complete. If a contract or document has been
filed as an exhibit to the registration statement, we refer you to the copy of the contract or document that has been filed. Each
statement in this Prospectus relating to a contract or document filed as an exhibit is qualified in all respects by the filed exhibit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We are subject to the
informational requirements of the Exchange Act and file annual, quarterly and current reports and other information with the SEC.
Our filings with the SEC are available to the public on the SEC&rsquo;s website at <I>www.sec.gov</I>. Those filings are also available
to the public on, or accessible through, our website under the heading &ldquo;Investor Relations&rdquo; at <I>www.investors.curiositystream.com.</I>
The information we file with the SEC or contained on or accessible through our corporate website or any other website that we may
maintain is not part of this Prospectus or the Registration Statement of which this Prospectus is a part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>


<!-- Field: Page; Sequence: 103; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->93<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_028"></A><B>INDEX TO FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"> <FONT STYLE="font-size: 10pt"><B>Index
to Audited Financial Statements of CuriosityStream Inc. as of and for the Years ended December 31, 2020 and December 31, 2019</B></FONT> </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 91%; padding-left: 10pt; text-indent: -10pt"><A HREF="#fin_007"> <FONT STYLE="font-size: 10pt">Report of Independent Registered Public Accounting Firm</FONT> </A></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="width: 8%; text-align: center"> F-2 </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#fin_001"> Consolidated <FONT STYLE="font-size: 10pt">Balance Sheets</FONT> </A></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 10pt">F-3</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#fin_002"> Consolidated <FONT STYLE="font-size: 10pt">Statements of Operations</FONT> </A></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 10pt">F-4</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#fin_003"> Consolidated <FONT STYLE="font-size: 10pt">Statements of Comprehensive
    </FONT>Income <FONT STYLE="font-size: 10pt">&nbsp;(Loss)</FONT> </A></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 10pt">F-5</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#fin_004"> <FONT STYLE="font-size: 10pt">Statements of Redeemable Convertible Preferred
    Stock and Stockholders&rsquo; Equity (Deficit)</FONT> </A></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 10pt">F-6</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#fin_005"> Consolidated <FONT STYLE="font-size: 10pt">Statements of Cash Flows</FONT> </A></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 10pt">F-7</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#fin_006"> <FONT STYLE="font-size: 10pt">Notes to </FONT>Consolidated <FONT STYLE="font-size: 10pt">Financial
    Statements</FONT> </A></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 10pt">F-8</FONT> </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><B></B></P>

<!-- Field: Page; Sequence: 104; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><A NAME="fin_007"></A> <B>Report of Independent
Registered Public Accounting Firm</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"> To the Stockholders and the Board of Directors
of CuriosityStream Inc. </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>Opinion on the Financial Statements</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> We have audited the accompanying consolidated
balance sheets of CuriosityStream Inc. (the Company) as of December 31, 2020 and 2019, the related consolidated statements of operations,
comprehensive loss, redeemable convertible preferred stock and stockholders&rsquo; equity (deficit) and cash flows for each of the two
years in the period ended December 31, 2020, and the related notes (collectively referred to as the &ldquo;consolidated financial statements&rdquo;).
In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company
at December 31, 2020 and 2019, and the results of its operations and its cash flows for each of the two years in the period ended December
31, 2020, in conformity with U.S. generally accepted accounting principles. </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>Basis for Opinion</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> These financial statements are the responsibility
of the Company&rsquo;s management. Our responsibility is to express an opinion on the Company&rsquo;s financial statements based on our audits.
We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required
to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations
of the Securities and Exchange Commission and the PCAOB. </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"> We conducted our audits in accordance with
the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were
we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an
understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the
Company&rsquo;s internal control over financial reporting. Accordingly, we express no such opinion. </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 audits included performing procedures
to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that
respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well
as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.&nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 33%"> &nbsp; </TD>
  <TD STYLE="width: 34%"> &nbsp; </TD>
  <TD STYLE="width: 33%"> /s/ Ernst &amp; Young LLP </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; text-indent: 0; margin: 0pt 0"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> We have served as the Company&rsquo;s auditor
since 2019. </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"> Baltimore, Maryland </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="background-color: white">March
31, 2021</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">&nbsp;</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"> </P>

<!-- Field: Page; Sequence: 105; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"> &nbsp; </P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <A NAME="fin_001"></A><B>CuriosityStream Inc.</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>Consolidated Balance Sheets</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>(in thousands, except par value)</B> </P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="border-top: Black 1.5pt solid; font-size: 1pt"> &nbsp; </DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> December &nbsp;31, </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2020 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2019 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold"> Assets </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> Current assets </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: right"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: right"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; width: 76%; text-align: left"> Cash and cash equivalents </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 11,203 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 8,819 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left"> Restricted cash </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,181 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left"> Short-term investments </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 22,171 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 35,525 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left"> Accounts receivable </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 7,222 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,777 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1.5pt"> Other current assets </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 4,467 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 2,460 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; text-align: left; padding-bottom: 1.5pt"> Total current assets </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 51,244 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 48,581 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> Investments </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 2,825 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 15,654 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"> Property and equipment, net </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,346 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,451 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"> Content assets, net </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 32,926 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 16,627 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"> Other assets </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 254 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 151 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt"> Total
    assets </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 88,595 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 82,464 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left"> Liabilities, redeemable convertible
    preferred stock, and stockholders&rsquo; equity (deficit) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"> Current liabilities </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left"> Current content liabilities </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 2,116 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 3,306 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left"> Accounts payable </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,577 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 5,245 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left"> Accrued expenses and other liabilities </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,313 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 2,266 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1.5pt"> Deferred revenue </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 12,678 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 7,101 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; text-align: left; padding-bottom: 1.5pt"> Total current liabilities </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 21,684 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 17,918 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"> Non-current deferred rent liability </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,027 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 824 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"> Other liabilities </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 67 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left"> Total liabilities </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 22,778 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 18,742 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left"> Commitments and contingencies </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"> Redeemable convertible preferred stock, zero
    and 18,383 shares issued and outstanding at December 31, 2020 and December 31, 2019; respectively; aggregate liquidation preference
    of $0 and $162,514 as of December 31, 2020 and December 31, 2019, respectively </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 155,174 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Stockholders&rsquo;
    equity (deficit)<SUP>(1)</SUP></B></FONT> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"> Preferred stock, $0.0001 par value &ndash; 1,000
    shares authorized; zero shares issued and outstanding at December 31, 2020 and 2019 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"> Common stock, $0.0001 par value &ndash; 125,000 shares authorized;
40,289 issued and 39,542 shares outstanding at December 31, 2020; 13,165 shares issued and outstanding as of December 31, 2019 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 4 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"> Additional paid-in capital </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 208,230 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"> Accumulated other comprehensive income </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 10 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 189 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"> Accumulated deficit </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (142,427 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (91,642 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; text-align: left; padding-bottom: 1.5pt"> Total stockholders&rsquo;
    equity (deficit) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 65,817 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (91,452 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt"> Total
    liabilities, redeemable convertible preferred stock, and stockholders&rsquo; equity (deficit) </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 88,595 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 82,464 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <FONT STYLE="font-size: 5pt">&nbsp;</FONT> </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"> (1) </TD><TD STYLE="text-align: left"> Retroactively
                                         restated for the reverse recapitalization as described in Notes 3 and 7. </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <FONT STYLE="font-size: 5pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"> The accompanying
notes are an integral part of these consolidated financial statements. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 106; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="fin_002"></A> <B>CuriosityStream Inc.</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>Consolidated Statements of Operations</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>(in thousands, except for per share
data)</B> </P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="border-top: Black 1.5pt solid; font-size: 1pt"> &nbsp; </DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> For the year<BR> ended
    December 31, </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2020 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2019 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; font-weight: bold"> Revenues </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 39,621 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 18,026 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"> Operating expenses </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in"> Cost of revenues </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 15,418 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,810 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-align: left"> Advertising and marketing </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 42,016 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 41,628 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"> General and administrative </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 21,135 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 14,035 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 78,569 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 62,473 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left"> Operating loss </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (38,948 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (44,447 </TD><TD STYLE="text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Other income (expense) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"> Interest and other income (expense) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 500 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 2,072 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left"> Loss before income taxes </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (38,448 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (42,375 </TD><TD STYLE="text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt"> Provision for income taxes </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 179 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 142 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt"> Net loss </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> (38,627 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> (42,517 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt"> Less preferred dividends and accretion of issuance costs </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (13,788 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (15,897 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt"> Net loss attributable to common stockholders </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> (52,415 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> (58,414 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"> Net loss per share attributable to common stockholders </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-align: left"> Basic and diluted </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (2.77 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (4.44 </TD><TD STYLE="text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold"> Weighted average number of common shares outstanding </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-align: left"> Basic and diluted </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 18,931 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 13,165 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"> The accompanying
notes are an integral part of these consolidated financial statements. </P>




<P STYLE="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: 107; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center"><A NAME="fin_003"></A> <B>CuriosityStream Inc.</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center"> <B>Consolidated Statements
of Comprehensive Income (Loss)</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center"> <B>(in thousands)</B> </P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="border-top: Black 1.5pt solid; font-size: 1pt"> &nbsp; </DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> Year ended December 31, </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2020 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2019 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; font-weight: bold; text-align: left"> Net loss </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> (38,627 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> (42,517 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Other comprehensive income (loss) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: 9pt"> Unrealized gain (loss) on available for sale securities: </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (179 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 184 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt"> Total comprehensive loss </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> (38,806 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> (42,333 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> ) </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"> The accompanying
notes are an integral part of these consolidated financial statements. </P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"> &nbsp; </P>

<!-- Field: Page; Sequence: 108; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="fin_004"></A> <B>CuriosityStream
Inc.</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> <B>Statement of
Redeemable Convertible Preferred Stock and Stockholder&rsquo;s Equity (Deficit) <SUP>(1)</SUP></B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> <B>(in thousands)</B> </P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="border-top: Black 1.5pt solid; font-size: 1pt"> &nbsp; </DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="6" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 8pt">Redeemable</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 8pt">Accumulated<BR>
    Other</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 8pt">Total</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="6" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 8pt">Convertible
    Series A</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 8pt">Additional</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 8pt">Comprehensive</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 8pt">Stockholders&rsquo;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1.5pt solid; font: italic bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 8pt">Preferred
    Stock</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1.5pt solid; font: italic bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 8pt">Common
    Stock</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1.5pt solid; font: italic bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 8pt">Preferred
    Stock</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 8pt">Paid-in</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 8pt">Income</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 8pt">Accumulated</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 8pt">Equity</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Shares</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Amount</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Shares</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Amount</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Shares</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Amount</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Capital</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">(Loss)</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Deficit</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">(Deficit)</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: italic bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 20%; font: bold 10pt Times New Roman, Times, Serif; text-indent: -0.1in; padding-left: 0.1in"> <FONT STYLE="font-size: 8pt">Balance
    at December 31, 2018</FONT> </TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 5%; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">14,557</FONT> </TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="width: 5%; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">139,277</FONT> </TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; width: 1%; font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 5%; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">20,000</FONT> </TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="width: 5%; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">200</FONT> </TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif; text-align: right"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif; text-align: right"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="width: 5%; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="width: 5%; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">5</FONT> </TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="width: 5%; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(34,435</FONT> </TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="width: 5%; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(34,230</FONT> </TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"> <FONT STYLE="font-size: 8pt">Retroactive
    application of the recapitalization</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">3,826</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(6,835</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(199</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">199</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-indent: -0.1in; padding-left: 0.1in"> <FONT STYLE="font-size: 8pt">Balance
    at December 31, 2018, as adjusted</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">18,383</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">139,277</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">13,165</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">1</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">5</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(34,236</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(34,230</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in"> <FONT STYLE="font-size: 8pt">Net
    loss</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(42,517</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(42,517</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in"> <FONT STYLE="font-size: 8pt">Stock-based
    compensation</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">1,008</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">1,008</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in"> <FONT STYLE="font-size: 8pt">Redeemable
    convertible preferred stock adjustment to redemption value</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">15,897</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(1,008</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(14,889</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(15,897</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"> <FONT STYLE="font-size: 8pt">Other
    comprehensive income</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">184</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">184</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-indent: -0.1in; padding-left: 0.1in"> <FONT STYLE="font-size: 8pt">Balance
    at December 31, 2019</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">18,383</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">155,174</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">13,165</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">1</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">189</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(91,642</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(91,452</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in"> <FONT STYLE="font-size: 8pt">Net
    loss</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(38,627</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(38,627</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in"> <FONT STYLE="font-size: 8pt">Stock-based
    compensation</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">4,584</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">4,584</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in"> <FONT STYLE="font-size: 8pt">Redeemable
    convertible preferred stock adjustment to redemption value</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">13,788</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(1,630</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(12,158</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(13,788</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in"> <FONT STYLE="font-size: 8pt">Recapitalization
    of redeemable convertible preferred stock into common stock</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(18,383</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(168,962</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">18,383</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">2</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">168,960</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">168,962</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in"> <FONT STYLE="font-size: 8pt">Net
    Cash Contribution from Business Combination and PIPE financing</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">8,638</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">1</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">35,587</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">35,588</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -0.1in; padding-left: 0.1in"> <FONT STYLE="font-size: 8pt">Exercise
    of Options</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">62</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">253</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">253</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -0.1in; padding-left: 0.1in"> <FONT STYLE="font-size: 8pt">Exercise
    of Warrants</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">41</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">476</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">476</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"> <FONT STYLE="font-size: 8pt">Other
    comprehensive loss</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(179</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(179</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-indent: -0.1in; padding-left: 0.1in"> <FONT STYLE="font-size: 8pt">Balance
    as of December 31, 2020</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">40,289</FONT> </TD><TD STYLE="padding-bottom: 4pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">4</FONT> </TD><TD STYLE="padding-bottom: 4pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">208,230</FONT> </TD><TD STYLE="padding-bottom: 4pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">10</FONT> </TD><TD STYLE="padding-bottom: 4pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">(142,427</FONT> </TD><TD STYLE="padding-bottom: 4pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 8pt">65,817</FONT> </TD><TD STYLE="padding-bottom: 4pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"> (1) </TD><TD STYLE="text-align: justify"> Retroactively
                                         restated for the reverse recapitalization as described in Notes 3 and 7. </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> &nbsp; </P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> The accompanying
notes are an integral part of these consolidated financial statements. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 109; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><A NAME="fin_005"></A> <B>CuriosityStream
Inc.</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>Consolidated Statements of Cash Flows</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>(in thousands)</B> </P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="border-top: Black 1.5pt solid; font-size: 1pt"> &nbsp; </DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>&nbsp;</B> </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> For the year ended<BR>
    December 31, </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2020 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2019 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold"> Cash flows from operating activities </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; width: 76%; text-align: left"> Net loss </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> (38,627 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> (42,517 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left"> Adjustments to reconcile net loss to net cash
    used in operating activities </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; text-align: left"> Additions to content assets </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (25,994 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (16,002 </TD><TD STYLE="text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; text-align: left"> Change in content liabilities </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (1,190 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,136 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; text-align: left"> Amortization of content assets </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 9,695 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,815 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; text-align: left"> Stock-based compensation </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 4,584 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,008 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; text-align: left"> Amortization, depreciation and accretion </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 573 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 142 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left"> Changes in operating assets and liabilities </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; text-align: left"> Accounts receivable </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (5,445 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (502 </TD><TD STYLE="text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; text-align: left"> Other assets </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (1,634 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (484 </TD><TD STYLE="text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; text-align: left"> Accounts payable </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (1,527 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 2,357 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; text-align: left"> Accrued expenses and other liabilities </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,007 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 920 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; text-align: left; padding-bottom: 1.5pt"> Deferred revenue </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 5,644 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 5,416 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; text-align: left; padding-bottom: 1.5pt"> Net cash used in operating
    activities </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (52,914 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (44,711 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left"> Cash flows from investing
    activities </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left"> Purchases of property and equipment </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (367 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (767 </TD><TD STYLE="text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"> Sales of investments </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 43,190 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 32,580 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"> Maturities of investments </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 10,750 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 7,947 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 1.5pt"> Purchase of investments </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (28,118 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (48,746 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; text-align: left; padding-bottom: 1.5pt"> Net cash provided by
    (used in) investing activities </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 25,455 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (8,986 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left"> Cash flows from financing
    activities </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"> Exercise of stock options </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 253 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left"> Proceeds from Business Combination and PIPE financing </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 41,506 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left"> Payment of offering costs </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (5,735 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left"> Borrowings on line of credit </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 9,758 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1.5pt"> Repayments on line of
    credit </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (9,758 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; text-align: left; padding-bottom: 1.5pt"> Net cash provided by
    financing activities </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 36,024 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left"> Net increase (decrease) in
    cash, cash equivalents and restricted cash </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 8,565 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (53,697 </TD><TD STYLE="text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"> Cash, cash equivalents
    and restricted cash, beginning of period </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 8,819 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 62,516 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 4pt"> Cash, cash equivalents
    and restricted cash, end of period </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 17,384 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 8,819 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left"> Supplemental schedule of
    non-cash financing activities: </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left"> Preferred dividends and accretion of issuance
    costs </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 13,788 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 15,897 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left"> Supplemental disclosure: </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left"> Interest payments </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 17 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left"> Accrued expenses for PP&amp;E </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 141 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; text-align: left"> Cash paid for taxes </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 253 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 44 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
</TABLE>

<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; text-align: center; margin-top: 0pt; margin-bottom: 0pt"> The accompanying
notes are an integral part of these consolidated financial statements. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"> &nbsp; </P>

<!-- Field: Page; Sequence: 110; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="fin_006"></A> <B>CURIOSITYSTREAM
INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</B> </P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"> <B>Note 1&nbsp;&mdash; Organization and
business</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> On October 14, 2020 (the
&ldquo;Closing Date&rdquo;), CuriosityStream Inc., a Delaware corporation (formerly named Software Acquisition Group Inc. (or &ldquo;SAQN&rdquo;),
a publicly traded special purpose acquisition company) consummated a merger pursuant to that certain Agreement and Plan of Merger (the
&ldquo;Merger Agreement&rdquo;), dated August 10, 2020, by and among Software Acquisition Group Inc., CS Merger Sub, Inc., a Delaware
corporation and a wholly owned subsidiary of Software Acquisition Group Inc. (&ldquo;Merger Sub&rdquo;), CuriosityStream Operating Inc.,
a Delaware corporation (formerly named CuriosityStream Inc.) (&ldquo;Legacy CuriosityStream&rdquo;), and Hendricks Factual Media LLC,
a Delaware limited liability company (&ldquo;HFM&rdquo;). </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> Pursuant to the terms of
the Merger Agreement, a business combination between Software Acquisition Group Inc. and Legacy CuriosityStream was effected through
the merger of Merger Sub with and into Legacy CuriosityStream, with Legacy CuriosityStream surviving as the surviving company and a wholly-owned
subsidiary of Software Acquisition Group Inc. (the &ldquo;Merger&rdquo; and collectively with the other transactions described in the
Merger Agreement, the &ldquo;Business Combination&rdquo;). On the Closing Date, Software Acquisition Group Inc. changed its name to CuriosityStream
Inc. (the &ldquo;Company&rdquo; or &ldquo;CuriosityStream&rdquo;) and Legacy CuriosityStream changed its name to CuriosityStream Operating
Inc., and has subsequently changed its name to Curiosity Inc. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The principal business of CuriosityStream
is to provide customers with access to high quality factual content via a direct subscription video on-demand (SVoD) platform
accessible by internet connected devices, or indirectly via distribution partners who deliver CuriosityStream content via the
distributor&rsquo;s platform or system. The online library available for streaming spans the entire category of factual entertainment
including science, history, society, nature, lifestyle, and technology. The library is composed of more than three thousand accessible
on-demand and ad-free productions and includes shows and series from leading non-fiction producers. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company&rsquo;s content assets
are available directly through its owned and operated website (&ldquo;O&amp;O Service&rdquo;), mobile applications developed for
iOS and Android operating systems (&ldquo;App Services&rdquo;), and via the platforms and systems of third-party partners in exchange
for license fees. The Company offers subscribers a monthly or annual subscription. The price for a subscription varies depending
on the streaming resolution (e.g., HD or 4K) and the length of the subscription (e.g., monthly or annual) selected by the customer.
As an additional part of the Company&rsquo;s App Services, it has built applications to make its service accessible on almost
every major customer device, including streaming media players like Roku, Apple TV and Amazon Fire TV, all major smart TV brands
(e.g., LG, Vizio, Samsung, Sony) and gaming consoles. In addition, CuriosityStream has affiliate agreement relationships with,
and its content assets are available through, major multichannel video programming distributors (&ldquo;MVPDs&rdquo;) and virtual
MVPDs (&ldquo;vMVPDs&rdquo;). </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 2&nbsp;&mdash; Basis of presentation and summary
of significant accounting policies</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Basis of presentation</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The consolidated financial statements
are prepared in accordance with U.S. generally accepted accounting principles (U.S.&nbsp;GAAP). The consolidated financial statements
include the accounts of CuriosityStream Inc. and its wholly owned subsidiaries. Intercompany balances and transactions have been
eliminated. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Pursuant to the Merger Agreement, the
merger between Merger Sub and Legacy CuriosityStream was accounted for as a reverse recapitalization in accordance with U.S. GAAP
(the &ldquo;Reverse Recapitalization&rdquo;). Under this method of accounting, Software Acquisition Group Inc. was treated as
the &ldquo;acquired&rdquo; company and Legacy CuriosityStream is treated as the acquirer for financial reporting purposes. </P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 111; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>CURIOSITYSTREAM INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</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-top: 0pt; margin-bottom: 0pt; text-align: justify"> <B>Note 2&nbsp;&mdash;
Basis of presentation and summary of significant accounting policies </B><FONT STYLE="font-style: normal; font-weight: normal">(cont.)</FONT>&nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Accordingly, for accounting purposes,
the Reverse Recapitalization was treated as the equivalent of Legacy CuriosityStream issuing stock for the net assets of Software
Acquisition Group Inc., accompanied by a recapitalization. The net assets of Software Acquisition Group Inc. are stated at historical
cost, with no goodwill or other intangible assets recorded. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Legacy CuriosityStream was determined
to be the accounting acquirer based on the following predominant factors: </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT> </TD><TD STYLE="text-align: justify"> Legacy
                                         CuriosityStream&rsquo;s existing stockholders have the greatest voting interest in the
                                         Company; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>


<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"> &nbsp; </TD>
    <TD STYLE="width: 24px; text-align: justify; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    largest individual stockholder in the Company was an existing stockholder of Legacy CuriosityStream;</FONT> </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT> </TD><TD STYLE="text-align: justify"> Legacy
                                         CuriosityStream&rsquo;s directors represented the majority of the new board of directors
                                         of the Company; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT> </TD><TD STYLE="text-align: justify"> Legacy
                                         CuriosityStream&rsquo;s senior management is the senior management of the Company; and </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT> </TD><TD STYLE="text-align: justify"> Legacy
                                         CuriosityStream is the larger entity based on historical revenue and has the larger employee
                                         base. </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The consolidated assets,
liabilities and results of operations prior to the Reverse Recapitalization are those of Legacy CuriosityStream. The shares and corresponding
capital amounts and losses per share, prior to the Reverse Recapitalization, have been retroactively restated based on shares reflecting
the exchange ratio of 0.626 established in the Business Combination. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Use of estimates</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The preparation of consolidated financial
statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts reported in
the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Significant areas
in which management uses estimates include content asset amortization, the assessment of the recoverability of the content assets,
and common stock and share-based awards. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Concentration of risk</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Financial instruments that potentially
subject the Company to concentration of credit risk consist principally of cash, cash equivalents, investments, and accounts receivable.
The Company maintains its cash, cash equivalents, and investments with high credit quality financial institutions; at times, such
balances with the financial institutions may exceed the applicable FDIC-insured limits. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Accounts receivable are typically unsecured
and are derived from revenues earned from customers primarily located in the United&nbsp;States. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> During the years ended December 31,
2020 and 2019, the top three customers accounted for 41% and 35% of the Company&rsquo;s revenues, respectively. Of these customers,
one customer accounted for 26% of the Company&rsquo;s revenues during the year ended December 31, 2020, and a different customer
accounted for 21% of the Company&rsquo;s revenues during the year ended December 31, 2019. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Cash and cash equivalents and restricted cash</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company considers all highly liquid
short-term investments purchased with an original maturity of three months or less to be cash equivalents. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> At December 31, 2020, restricted cash
represents cash deposits required by a bank as a collateral related to the Company&rsquo;s line of credit for $4,500 and corporate
credit card agreements of $500. In addition, as result of the Merger, the Company was required to reserve funds of $1,181 related
to the Paycheck Protection Program (PPP) loan (see Note 6) in an escrow account until the PPP loan is forgiven. </P>


<P STYLE="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: 112; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>CURIOSITYSTREAM INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 2&nbsp;&mdash; Basis of presentation and summary
of significant accounting policies </B>(cont.) </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Fair value measurement of financial instruments</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Fair value is defined as the exit price,
or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants as of the measurement date. The applicable accounting guidance establishes a hierarchy for inputs used in measuring
fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most
observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability
and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect
the Company&rsquo;s assumptions about the factors market participants would use in valuing the asset or liability. The guidance
establishes three levels of inputs that may be used to measure fair value: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> Level
                                         1&nbsp;&mdash; Quoted prices in active markets for identical assets or liabilities. </TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> Level
                                         2&nbsp;&mdash; Inputs other than Level 1 that are observable, either directly or indirectly,
                                         such as quoted prices for similar assets or liabilities; quoted prices in markets that
                                         are not active; or other inputs that are observable or can be corroborated by observable
                                         market data for substantially the full term of the assets or liabilities. </TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> Level
                                         3&nbsp;&mdash; Unobservable inputs that are supported by little or no market activity
                                         and that are significant to the fair value of the assets or liabilities. </TD>
</TR></TABLE>
<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>&nbsp;</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Investments</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company holds investments in money
market funds, government debt securities and corporate debt securities which the Company classifies as available-for-sale. The
investments are therefore carried at fair value based on unadjusted quoted market prices (Level 1) and quoted prices for comparable
assets (Level 2), as noted below: </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%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="14" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> As
    of December 31, 2020 </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="14" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> As
    of December 31, 2019 </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> Cash
    and Cash Equivalents </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> Short-term
    Investments </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> Investments
    (non-current) </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> Total </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> Cash
    Equivalents </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> Short-term
    Investments </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> Investments
    (non-current) </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> Total </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif"> Level 1 Securities </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-indent: -0.125in; width: 36%; text-align: left"> Money
    market funds </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif; text-align: right"> 2,165 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif; text-align: right"> 2,165 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif; text-align: right"> 2,973 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif; text-align: right"> 2,973 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"> Government
    debt securities </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 5,999 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 12,892 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 18,891 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 25,996 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 25,996 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"> Total
    Level 1 Securities </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 8,164 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 12,892 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 21,056 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 2,973 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 25,996 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 28,969 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left"> Level 2 Securities </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-indent: -0.125in; text-align: left"> Corporate
    debt securities </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 8,054 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 2,825 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 10,879 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 9,529 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 15,654 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 25,183 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"> Municipal
    debt securities </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 1,225 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 1,225 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"> Total
    Level 2 Securities </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 9,279 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 2,825 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 12,104 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 9,529 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 15,654 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 25,183 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> Total </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> 8,164 </TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> 22,171 </TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> 2,825 </TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> 33,160 </TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> 2,973 </TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> 35,525 </TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> 15,654 </TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> 54,152 </TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif">Unrealized
gains and losses are recorded in accumulated other comprehensive income or loss, a component of stockholders&rsquo; equity (deficit).
Realized gains and losses are reclassified from accumulated other comprehensive income or loss into earnings as a component of
net income or loss. Realized gains reported in interest and other income in the accompanying consolidated statements of operations
were $114 and nil for the years ended December 31, 2020 and 2019, respectively. The Company evaluates unrealized losses on investments,
if any, to determine if other-than-temporary impairment is required to be recognized. No such other-than-temporary impairments
were recognized during the years ended December 31, 2020 and 2019. Investments in debt securities that will mature within one
year of the balance sheet dates are reflected as Short-term investments in the accompanying consolidated balance sheets.</FONT> </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 113; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> <B>CURIOSITYSTREAM
INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</B> </P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 2&nbsp;&mdash; Basis of presentation and summary
of significant accounting policies </B>(cont.) </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The following tables summarize the Company&rsquo;s
corporate and government debt securities: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: .25in"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="14" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>As of December 31, 2020</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>Amortized Cost</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>Gross Unrealized Gains</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>Gross Unrealized Losses</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>Estimated Fair Value</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> Debt Securities: </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; padding-left: 0.125in"> Corporate </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 10,867 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 14 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> &nbsp;&nbsp;&nbsp;(2 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 10,879 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in"> U.S. Government </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 18,892 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (2 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 18,891 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1.5pt; padding-left: 0.125in"> Municipalities </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 1,226 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (1 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 1,225 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 4pt"> Total </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 30,985 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 15 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> (5 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 30,995 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
</TABLE>


<P STYLE="margin: 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="14" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>As of December 31, 2019</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>Amortized Cost</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>Gross Unrealized Gains</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>Gross Unrealized Losses</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>Estimated Fair Value</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> Debt Securities: </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; padding-left: 0.125in"> Corporate </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 24,994 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 189 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> &nbsp;&nbsp;&nbsp;- </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 25,183 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in"> U.S. Government </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 25,996 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 25,996 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 4pt"> Total </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 50,990 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 189 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> - </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 51,179 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The table below summarizes the Company&rsquo;s
maturities for corporate and government debt securities at December 31, 2020 by contractual maturity periods. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>December 31, 2020</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>Amortized Cost</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>Estimated Fair Value</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left"> Due in one year or less </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 28,174 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 28,170 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Due after one year through five years </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 2,811 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 2,825 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt"> Due after five years </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 4pt"> Total </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 30,985 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 30,995 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Accounts receivable</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif">Accounts
receivable is comprised of receivables from subscriptions, license fees, and program sales. The Company records accounts receivable
net of an allowance for doubtful accounts. The allowance is determined based on a review of the estimated collectability of the
specific accounts and historical loss experience and existing economic conditions. Uncollectible amounts are written off against
the allowance for doubtful accounts once management determines collection of an amount, or a portion thereof, to be less than
probable. As of December 31, 2020 and 2019, allowance for doubtful accounts amounted to $14 and nil, respectively.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 114; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>CURIOSITYSTREAM INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 2&nbsp;&mdash; Basis of presentation and summary
of significant accounting policies </B>(cont.) </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Content assets, net</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company acquires, licenses and
produces content, including original programming, in order to offer members unlimited viewing of factual entertainment content.
The content licenses are for a fixed fee and specific windows of availability. Payments for content, including additions to content
assets and the changes in related liabilities, are classified within &ldquo;Net cash used in operating activities&rdquo; on the
consolidated statements of cash flows. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company recognizes its content
assets (licensed and produced) as &ldquo;Content assets, net&rdquo; on the consolidated balance sheets. For licenses, the Company
capitalizes the fee per title and records a corresponding liability at the gross amount of the liability when the license period
begins, the cost of the title is known, and the title is accepted and available for streaming. For productions, the Company capitalizes
costs associated with the production, including development costs, direct costs and production overhead. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif">Based
on factors including historical and estimated viewing patterns, the Company amortizes the content assets (licensed and produced)
in &ldquo;Cost of revenues&rdquo; on the consolidated statements of operations on a straight-line basis over the shorter of each
title&rsquo;s contractual window of availability or estimated period of use, beginning with the month of first availability. The
Company reviews factors impacting the amortization of content assets on an ongoing basis and will record amortization on an accelerated
basis when there is more upfront use of a title, for instance due to significant program sales.</FONT> </P>



<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company&rsquo;s business model is
subscription based as opposed to a model generating revenues at a specific title level. Content assets (licensed and produced)
are predominantly monetized as a group and therefore are reviewed in aggregate at a group level when an event or change in circumstances
indicates a change in the expected usefulness of the content or that the fair value may be less than unamortized cost. If such
changes are identified, the aggregated content assets will be stated at the lower of unamortized cost or fair value. In addition,
unamortized costs for assets that have been, or are expected to be, abandoned are written off. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>&nbsp;</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Property and equipment</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Property and equipment are stated at
historical cost, less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful
lives of the assets. Leasehold improvements are amortized over the shorter of the non-cancelable lease term or the estimated useful
lives. Repairs and maintenance expenses are expensed as incurred. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>&nbsp;</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Long-lived assets</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company reviews its long-lived assets
for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability
of these assets is measured by a comparison of the carrying amount to the future undiscounted cash flows the assets are expected
to generate. If long-lived assets are considered impaired, an impairment charge is recognized for the amount by which the carrying
amount of the asset exceeds its fair value. No impairment charge related to long-lived assets was recognized for the years ended
December 31, 2020 and 2019. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>&nbsp;</I></B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: .25in"></P>

<!-- Field: Page; Sequence: 115; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> <B>CURIOSITYSTREAM
INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</B> </P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 2&nbsp;&mdash; Basis of presentation and summary
of significant accounting policies </B>(cont.) </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Revenue
                                         recognition</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif">The
following table sets forth the Company&rsquo;s revenues disaggregated by type for the years ended December 31, 2020 and 2019,
as well as the relative percentage of each revenue type to total revenue.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &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> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Year Ended December 31, </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> 2020 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> 2019 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; text-align: left"> Subscriptions &ndash; O&amp;O Service </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 13,031 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> 33 </TD><TD STYLE="width: 1%; text-align: left"> % </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 7,087 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> 39 </TD><TD STYLE="width: 1%; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt"> Subscriptions &ndash; App Services </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 3,477 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 9 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> % </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 2,706 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 15 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Subscriptions &ndash; Total </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 16,508 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 42 </TD><TD STYLE="text-align: left"> % </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 9,793 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 54 </TD><TD STYLE="text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> License Fees &ndash; Affiliates </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 16,832 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 42 </TD><TD STYLE="text-align: left"> % </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 7,769 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 43 </TD><TD STYLE="text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt"> License Fees &ndash; Program Sales </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 5,691 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 15 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> % </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 450 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 3 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> License Fees &ndash; Total </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 22,523 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 57 </TD><TD STYLE="text-align: left"> % </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 8,219 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 46 </TD><TD STYLE="text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Other &ndash; Total<SUP>(a)</SUP> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 590 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1 </TD><TD STYLE="text-align: left"> % </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 14 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 0 </TD><TD STYLE="text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 4pt"> Total Revenues </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 39,621 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 18,026 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                         executed and recognized revenue related to two sponsorship campaigns during the year
                                         ended December 31, 2020. These sponsorship campaigns offer companies the chance to be
                                         associated with CuriosityStream content in a variety of forms, including short and long
                                         form program integration, branded social media promotional videos, broadcast advertising
                                         spots, and digital display ads.</FONT> </TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <I>Subscriptions&nbsp;&mdash; O&amp;O Service</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company generates revenue from monthly
subscription fees from its O&amp;O Service. CuriosityStream subscribers enter into non-refundable, month-to-month or annual subscriptions
with the Company. The Company bills the monthly subscriber on each subscriber&rsquo;s monthly anniversary date and recognizes
the revenue ratably over each monthly membership period. The annual subscription fees are collected by the Company at the start
of the annual subscription period and are recognized ratably over the subsequent twelve month period. Revenues are presented net
of the taxes that are collected from subscribers and remitted to governmental authorities. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company also offers gift certificates
for use on a future date. The Company recognizes revenue from gift certificates when the services have been provided. The gift
certificates do not expire. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <I>&nbsp;</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <I>Subscription&nbsp;&mdash; App Services</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company also earns subscription
revenues through its App Services. These subscriptions are similar to the O&amp;O Service subscriptions, but are generated based
on agreements with certain streaming media players as well as with Smart TV brands and gaming consoles (see Note 1). Under these
agreements, the streaming media player typically bills the subscriber directly and then remits the collected subscriptions to
the Company, net of a distribution fee. The Company recognizes the gross subscription revenues when earned and simultaneously
recognizes the corresponding distribution fees as an expense. The Company is the principal in these relationships as the Company
retains control over service delivery to its subscribers. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <I>&nbsp;</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <I>Licensing&nbsp;&mdash; Affiliates</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company generates license fee revenues
from MVPDs such as Altice, Comcast and Cox as well as from vMVPDs such as Amazon and Sling TV (MVPDs and vMVPDs are also referred
to as affiliates). Under the terms of the agreements with these affiliates, the Company receives license fees based upon contracted
programming rates and subscriber levels reported by the affiliates. In exchange, the Company licenses its content to the affiliates
for distribution to their subscribers. The Company earns revenue under these agreements either based on the total number of subscribers
multiplied by rates specified in the agreements or based on fixed fee arrangements. These revenues are recognized over the term
of each agreement when earned. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 116; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> <B>CURIOSITYSTREAM
INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</B> </P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 2&nbsp;&mdash; Basis of presentation and summary
of significant accounting policies </B>(cont.) </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <I>Licensing&nbsp;&mdash; Program Sales</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company has distribution agreements
which grant a licensee limited distribution rights to the Company&rsquo;s programs for varying terms, generally in exchange for
a fixed license fee. Revenue is recognized once the content is made available for the licensee to use. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company&rsquo;s performance obligations
include (1)&nbsp;access to its SVoD platform via the Company&rsquo;s O&amp;O Service and App Services, (2)&nbsp;access to the
Company&rsquo;s content assets, and (3)&nbsp;licenses of specific program titles. In contracts containing the right to access
the Company SvoD platform, the performance obligation is satisfied as access to the SvoD platform is provided post any free trial
period. In contracts which contain access to the Company&rsquo;s content assets, the performance obligation is satisfied as access
to the content is provided. For contracts with licenses of specific program titles, the performance obligation is satisfied as
that content is made available for the customer to use. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Payments terms for access to the Company&rsquo;s
SvoD services require payment in advance on or prior to the date access to the service is provided. Payments for contracts providing
access to the Company&rsquo;s content assets are paid either in advance, over the license term, or on a sales and usage basis.
Payments for licenses of specific program titles are paid either upfront or over the license term on a fixed fee basis, or on
a sales and usage basis. To date, there has been no financing component associated with the Company&rsquo;s revenue arrangements
and such arrangements do not contain rights of return provisions. </P>


<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Revenues expected to be recognized in
the future related to performance obligations that are unsatisfied at December 31, 2020 are as follows: </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%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="14" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>Year ending December 31,</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2"> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2"> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>2021</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>2022</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>2023</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>2024</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>Thereafter</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>Total</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; width: 28%; text-align: left"> Remaining Performance Obligations </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 20,618 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 8,134 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 1,274 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 78 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 44 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 30,148 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> These amounts include only fixed consideration
or minimum guarantees and do not include amounts related to (i)&nbsp;contracts with an original expected term of one year or less
or (ii)&nbsp;licenses of content that are solely based on sales or usage-based royalties. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Contract liabilities (i.e. deferred
revenue) consists of subscriber and affiliate license fees billed that have not been recognized, amounts contractually billed
or collected for program sales in advance of the related content being made available to the customer, and unredeemed gift certificates
and other prepaid subscriptions that have not been redeemed. Total deferred revenues were&nbsp;$12,745&nbsp;and&nbsp;$7,101&nbsp;at
December 31, 2020 and December 31, 2019, respectively. The increase in deferred revenues is primarily due to the growth in annual
subscriptions from O&amp;O and App Services, which requires upfront annual payments, as well as an increase in the volume of program
sales activity. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Revenues of $6,944 were recognized during
the year ended December 31, 2020 related to the balance of deferred revenue at December 31, 2019. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>&nbsp;</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Cost of revenues</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Cost of revenues primarily includes
content asset amortization, streaming delivery costs, payment processing costs and distribution fees.<B><I>&nbsp;</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <B><I>&nbsp;</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Advertising
                                         and marketing</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Advertising and marketing expenses
include brand awareness, digital and television types of costs. The Company expenses advertising and marketing costs as incurred.
The Company incurred advertising and marketing expenses totaling $42,016 and $41,628 for the years ended December 31, 2020 and
2019, respectively. These expenses are included in advertising and marketing costs in the accompanying consolidated statements
of operations. </P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>&nbsp;</I></B> </P>

<!-- Field: Page; Sequence: 117; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>CURIOSITYSTREAM INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 2&nbsp;&mdash; Basis of presentation and summary
of significant accounting policies </B>(cont.) </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>&nbsp;</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Stock-based compensation</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company measures the cost of employee
services received in exchange for an award of equity instruments based on the grant date fair value of the award. The fair value
is recognized in earnings over the period during which an employee is required to provide the service. The Company accounts for
forfeitures as they occur. See Note 9 for further details. </P>


<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Income taxes</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company uses the asset and liability
method of accounting for income taxes, in which deferred tax assets and liabilities are recognized for the future tax consequences
attributable to the differences between the carrying amounts of existing assets and liabilities as reported in the consolidated
balance sheets and their respective tax bases. Deferred tax assets and liabilities are measured using the enacted tax rates expected
to apply to taxable income in the years in which those temporary differences are expected to be reversed. The effect on deferred
tax assets and liabilities of a change in tax rates is recognized as income in the period that includes the enactment date. A
valuation allowance is established if it is more likely than not that all or a portion of the deferred tax asset will not be realized. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company&rsquo;s tax positions are
subject to income tax audits. The Company recognizes the tax benefit of an uncertain tax position only if it is more likely than
not that the position is sustainable upon examination by the taxing authority, based on the technical merits. The tax benefit
recognized is measured as the largest amount of benefit which is more likely than not (greater than 50% likely) to be realized
upon settlement with the taxing authority. The Company recognizes interest accrued and penalties related to unrecognized tax benefits
in its tax provision. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company calculates the current and
deferred income tax provision based on estimates and assumptions that could differ from the actual results reflected in income
tax returns filed in subsequent years. Adjustments based on filed income tax returns are recorded when identified. The amount
of income tax paid is subject to examination by U.S. federal and state tax authorities. The estimate of the potential outcome
of any uncertain tax issue is subject to management&rsquo;s assessment of the relevant risks, facts, and circumstances existing
at that time. To the extent the assessment of such tax position changes, the change in estimate is recorded in the period in which
the determination is made. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Recently issued financial accounting standards</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> As an emerging growth company (&ldquo;EGC&rdquo;),
the Jumpstart Our Business Startups Act (&ldquo;JOBS Act&rdquo;) allows the Company to delay adoption of new or revised accounting
pronouncements applicable to public companies until such pronouncements are applicable to private companies. The Company has elected
to use this extended transition period under the JOBS Act until such time as the Company is no longer considered to be an EGC.&nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In February&nbsp;2016, the FASB issued
ASU 2016-02, <I>Leases (Topic 842)</I>, which requires lessees to recognize lease assets and lease liabilities on the balance
sheet for those leases classified as operating leases under current U.S. GAAP. ASU 2016-02 requires that a lessee should recognize
a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying
asset for the lease term on the balance sheet. The new guidance also requires qualitative and quantitative disclosures related
to the nature, timing and uncertainty of cash flows arising from leases. The guidance is effective for the Company&rsquo;s fiscal
year beginning January 1, 2022, with early adoption permitted, and is required to be implemented using a modified retrospective
approach. The Company is currently assessing the impact of the new standard on its consolidated financial statements, but anticipates
a material increase in assets and liabilities due to the recognition of the required right-of-use asset and corresponding lease
liability for all lease obligations that are currently classified as operating leases, such as real estate leases for corporate
headquarters, as well as additional disclosure on all its lease obligations. The income statement recognition of lease expense
is not expected to significantly change from the current methodology. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In June&nbsp;2016, the FASB issued
ASU 2016-13, <I>Financial Instruments&nbsp;&mdash;&nbsp;Credit Losses (Topic 326)</I>, which requires that an entity measure and
recognize expected credit losses for financial assets held at amortized cost and replaces the incurred loss impairment methodology
in current U.S. GAAP with a methodology that requires consideration of a broader range of information to estimate credit losses.
The guidance also modifies the impairment model for available-for-sale debt securities. ASU 2016-13 is effective for the Company&rsquo;s
fiscal year beginning January 1, 2023. The Company is continuing to assess the potential impacts of ASU 2016-13 on its consolidated
financial statements. </P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 118; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> <B>CURIOSITYSTREAM INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</B> </P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 3 &mdash; Business Combination</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> As discussed in
Note 1, on October 14, 2020, the Company consummated the Merger Agreement dated August 10, 2020, with Legacy CuriosityStream surviving
the merger as a wholly owned subsidiary of the Company. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Legacy CuriosityStream
common stock issued and outstanding were cancelled and converted into the right to receive 0.626 shares (the &ldquo;Exchange Ratio&rdquo;)
of the Company&rsquo;s Common Stock, par value $0.0001 per share (&ldquo;Common Stock&rdquo;). Unless otherwise stated, the Exchange
Ratio was applied to the number of shares and share prices of Legacy CuriosityStream throughout these consolidated financial statements. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> At the effective
time of the Merger (the &ldquo;Effective Time&rdquo;), all (100%) of the issued and outstanding shares of capital stock of Legacy
CuriosityStream were converted into an aggregate of 31,556,837&nbsp;shares (the &ldquo;Merger Shares&rdquo;) of Common Stock.
Pursuant to the Merger Agreement, 1,501,758 Merger Shares issued by the Company at closing will be held in escrow for a period
of twelve (12) months after the Closing Date to satisfy indemnification obligations and an additional 19,924 Merger Shares will
be held in escrow pending final working capital calculations (collectively, the &ldquo;Escrow Shares&rdquo;). </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In connection with the
Closing, and pursuant to the terms of a PIPE Subscription Agreement entered into by the Company with certain third-party&nbsp;investors
(the &ldquo;PIPE Investors&rdquo;) in connection with the execution of the Merger Agreement, the Company completed the issuance of an
aggregate of 2,500,000 newly-issued&nbsp;shares of Common Stock for an aggregate purchase price of $25.0 million (the &ldquo;PIPE&rdquo;).
The shares of Common Stock issued by the Company pursuant to the PIPE were issued concurrently with the Closing of the Merger on the
Closing Date. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"> Upon the closing of the
Merger: </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"> &nbsp; </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="width: 24px; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,549,512
    shares of SAQN Class A Common Stock held by shareholders prior to the Merger were redeemed with cash from SAQN&rsquo;s trust account,
    leaving 2,400,488 shares of pre-existing SAQN Class A Common Stock outstanding after redemption, which were then converted into an
    equivalent amount of shares of Common Stock;</FONT> </TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> all issued
                                         and outstanding shares of Legacy CuriosityStream capital stock converted into an aggregate
                                         of 31,556,837 shares of Common Stock (inclusive of the Escrow Shares); </TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> all
of the 3,737,500 outstanding shares of SAQN&rsquo;s Class&nbsp;B Common Stock, par value $0.0001 per share, held by Software
Acquisition Holdings, LLC (the &ldquo;Sponsor&rdquo;), converted into an aggregate of 3,737,500&nbsp;shares of Common Stock, 2,242,500
of which are subject to certain vesting conditions; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> of
                                         the 4,740,000 Private Placement Warrants held by the Sponsor immediately prior to the
                                         Effective Time, (i) 711,000 were forfeited by the Sponsor and (ii)&nbsp;an aggregate
                                         of 353,000 were forfeited by the Sponsor and reissued by the Company to certain PIPE
                                         Investors and holders of Common Stock existing prior to the Effective Time; </TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> all
                                         of the outstanding options to acquire Legacy CuriosityStream common stock were converted
                                         into options to acquire an aggregate of 2,214,246&nbsp;shares of Common Stock; and </TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> the
                                         Company issued an aggregate of 2,500,000&nbsp;shares of Common Stock to the PIPE Investors
                                         pursuant to the closing of the PIPE. </TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The Company received
$16.5 million in cash from the SAQN trust account, net of redemptions of Class A Common Stock as well as transaction costs paid at Closing
of $3.1 million. In addition, the Company also received $25.0 million from the PIPE investors related to the issuance of 2,500,000 shares
of Common Stock. The Company paid a total of $2.6 million of additional transaction costs related to the Business Combination in addition
to the $3.1 million transaction costs deducted from the merger proceeds above, totaling $5.7 million of transaction costs. </P>
<P STYLE="margin-top: 0; margin-bottom: 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 119; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <B>CURIOSITYSTREAM
INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"> <B>Note 3 &mdash;
Business Combination </B><FONT STYLE="font-style: normal; font-weight: normal">(cont.)</FONT> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0.25in; text-align: justify"> As
a result of the foregoing transactions, as of the Closing Date and immediately following the completion of the Merger and the
PIPE, the Company had the following outstanding securities: </P>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> 40,194,825 shares of Common Stock (inclusive of the Escrow Shares); </TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> options
                                         to acquire an aggregate of 2,214,246&nbsp;shares of Common Stock; and </TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"> &#9679; </TD><TD STYLE="text-align: justify"> 7,474,991
                                         public warrants and 4,029,000 Private Placement Warrants (inclusive of PIPE Warrants), each exercisable for one share
                                         of Common Stock at a price of $11.50 per share. </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 4&nbsp;&mdash; Content assets</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Content assets consisted of the following: </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%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> December 31, </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2020 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2019 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> Licensed content, net </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left; padding-left: 0.125in"> Released, less amortization </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 9,985 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 7,880 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1.5pt; text-align: left; padding-left: 0.125in"> Prepaid and unreleased </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 3,022 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 2,685 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 13,007 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 10,565 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Produced content, net </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in"> Released, less amortization </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 9,071 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,970 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.125in"> In production </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 10,848 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,889 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in"> In development and pre-production </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 203 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 19,919 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,062 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 4pt"> Total </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 32,926 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 16,627 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> As of December 31, 2020, $4,772, $2,891,
and $1,171 of the $9,985 unamortized cost of the licensed content that has been released is expected to be amortized in each of
the next three years. As of December 31, 2020, $2,172 of the $9,071 unamortized cost of the produced content that has been released
is expected to be amortized in each of the next three years. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In accordance with its accounting policy
for content assets, the Company amortized licensed content costs and produced content costs during the years ended December 31,
2020 and 2019, respectively, as follows: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> Year Ended December 31, </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2020 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2019 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left"> Licensed content </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 6,800 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 3,279 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt"> Produced content </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 2,895 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 536 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 9,695 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 3,815 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 120; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>CURIOSITYSTREAM INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 5&nbsp;&mdash; Property and equipment</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Property and equipment, net are summarized
by major classifications as follows: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> Estimated </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: center"> useful lives </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> December 31, </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="text-align: center; border-bottom: Black 1.5pt solid"> (in years) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> 2020 </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> 2019 </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 60%; text-align: left; text-indent: -0.1in; padding-left: 0.1in"> Furniture and fixtures </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 15%; text-align: center"> 10 to 15 </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 108 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 108 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in"> Equipment </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> 5 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 967 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 961 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in"> Computer and software </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> 3 to 5 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 625 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 534 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in"> Website and application development </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> 3 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 687 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 687 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in"> Leasehold improvements </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> Lesser of lease term or useful lives </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 703 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 614 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"> Work-in-progress </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="text-align: center; padding-bottom: 1.5pt"> - </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 85 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 51 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt"> Property and equipment, gross </TD><TD> &nbsp; </TD>
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 3,175 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 2,955 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"> Less accumulated depreciation
    and amortization </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 1,829 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 1,504 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 4pt; text-indent: -0.1in; padding-left: 16.2pt"> Property and equipment, net </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 1,346 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 1,451 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Depreciation expense related to the
property and equipment above, including the amortization of leasehold improvements, was $330 and $332 for the years ended December
31, 2020 and 2019, respectively. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 6&nbsp;&mdash; Line of Credit and Paycheck Protection
Program Loan</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> On February 12, 2020, the Company obtained
a one-year $4,500 line of credit facility from a bank. The line of credit calls for interest-only monthly payments at a rate equal
to the LIBOR Daily Floating Rate plus 2.25%. The loan carries an unused fee of 0.25% annually on all committed but unused capital,
payable quarterly in arrears. The entire unpaid principal balance was scheduled to be due upon the original loan maturity date
of February 28, 2021. The line of credit facility is collateralized by cash of $4,500. At December 31, 2020, there was no balance
drawn and owed under the facility. During February 2021, the loan maturity date was extended to February 28, 2022. Refer to Note
15. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> On May 1, 2020, the Company applied
for and received funding from the Paycheck Protection Program (&ldquo;PPP&rdquo;) in the amount of $1,158 under the Coronavirus
Aid, Relief and Economic Security Act (&ldquo;CARES Act&rdquo;) (the &ldquo;PPP Loan&rdquo;). The PPP Loan matures in May&nbsp;2022
and bears interest at a rate of 1.0% per annum. Monthly amortized principal and interest payments are deferred for six months
after the date of disbursement. The PPP provides that the use of the PPP Loan amount shall be limited to certain qualifying expenses
and may be partially or wholly forgiven in accordance with the requirements set forth in the CARES Act. The amount of loan proceeds
eligible for forgiveness takes into account a number of factors, including the amount of loan proceeds used by the Company during
the specified period after the loan origination for certain purposes including payroll costs, rent payments on certain leases,
and certain qualified utility payments. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> During the year ended December 31,
2020, all $1,158 of loan proceeds were applied to covered payroll and non-payroll expenses per the PPP. The Company has elected
to recognize earnings as funds are applied to covered expenses and classify the application of funds as a reduction of the related
expense in the consolidated statement of operations. As a result, general and administrative expenses during the year ended December
31, 2020 within the consolidated statement of operations are reduced by these amounts. Should the Company&rsquo;s loan forgiveness
application be rejected, the Company may be required to repay all or a portion of the funds received under the PPP under an amortization
schedule through May&nbsp;2025 with an annual interest rate of 1%. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company believes it has met all
the requirements under the PPP, has submitted an application for loan forgiveness, and anticipates that it will not be required
to repay any portion of the grant. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in"> &nbsp; </P>


<!-- Field: Page; Sequence: 121; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>CURIOSITYSTREAM INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 7&nbsp;&mdash; Redeemable convertible preferred
stock and stockholders&rsquo; equity</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The consolidated statements of redeemable
convertible preferred stock and stockholders&rsquo; equity (deficit) reflect the Business Combination as defined in Note 1 as
of October 14, 2020. As Legacy CuriosityStream was deemed the accounting acquirer in the Business Combination with Software Acquisition
Group Inc., all periods prior to the consummation date reflect the balances and activity of Legacy CuriosityStream. The balances
as of December 31, 2019 and 2018 from the financial statements of Legacy CuriosityStream as of that date, share activity (redeemable
convertible preferred stock, common stock, additional paid in capital, and accumulated deficit) and per share amounts were retroactively
adjusted, where applicable, using the recapitalization exchange ratio of 0.626. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Common Stock</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In connection with the Business Combination,
the Company amended and restated its certificate of incorporation. As of December 31, 2020, the Company has authorized the issuance
of 126,000,000 shares of capital stock, par value of $0.0001 per share, consisting of (a) 125,000,000 shares of common stock,
and (b) 1,000,000 shares of preferred stock. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>&nbsp;</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Warrants</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> As of December
31, 2020, the Company had 7,433,589 public warrants, 3,676,000 private placement warrants, and 353,000 PIPE warrants outstanding.
These warrants are equity classified. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif">Following
the consummation of the Business Combination, holders of the public, private placement, and PIPE warrants are entitled to acquire
common stock of the Company. Each whole warrant entitles the registered holder to purchase one share of the Company&rsquo;s common
stock at an exercise price of&thinsp;$11.50 per share, beginning 30 days after the Closing Date. All Warrants will expire five
years after the completion of the Business Combination.</FONT> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Once the public warrants became exercisable,
the Company had the right to redeem the outstanding warrants in whole and not in part at a price of $0.01 per warrant upon a minimum
of 30 days&rsquo; prior written notice of redemption, if and only if the last sale price of the Company&rsquo;s common stock matched
or exceeded $18.00 per share for any 20 trading days within a 30-trading day period ending on the third trading day prior to the
date on which the Company sent the notice of redemption to the warrant holders. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The private placement
warrants are identical to the public warrants except that, so long as they are held by the Sponsor or its permitted transferees:
(i) they will not be redeemable by the Company&#894; (ii) they may be exercised by the holders on a cashless basis&#894; and (iii)
they are subject to registration rights. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1.5pt solid"> Warrant Type </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> Cash Exercise Price per
    share </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> Warrants Outstanding&nbsp;on<BR>
    Closing Date </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> Warrants Exercised from
    Closing Date to 12/31/20 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> Warrants Outstanding<BR>
    12/31/2020 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; text-align: left"> Public Warrants (CURIW) </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 11.50 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> 7,474,991 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> (41,402 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> 7,433,589 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt"> Private Placement and PIPE Warrants </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left"> $ </TD><TD STYLE="padding-bottom: 1.5pt; text-align: right"> 11.50 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 4,029,000 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 4,029,000 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 4pt"> Total </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 11,503,991 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> (41,402 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 11,462,589 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <B>&nbsp;</B> </P>


<!-- Field: Page; Sequence: 122; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>CURIOSITYSTREAM INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 7&nbsp;&mdash; Redeemable convertible preferred
stock and stockholders&rsquo; equity </B>(cont.) </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Legacy CuriosityStream Redeemable Convertible Preferred
Stock</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> During November and December&nbsp;2018,
in connection with a private placement equity offering, Legacy CuriosityStream issued 14,557,000 shares of Series A Redeemable
Convertible Preferred Stock (&ldquo;Series A Preferred Stock&rdquo;) in exchange for gross proceeds of $145,570. Legacy CuriosityStream
incurred equity issuance costs of $8,027 in connection with this offering, which were reflected as a reduction to the initial
carrying value of the Series A Preferred Stock balance. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The holders of the Series A Preferred
Stock had the right, exercisable at any time prior to the Closing Date, to convert all or any of such shares into a number of
shares of Class&nbsp;A Common Stock equal to the Accrued Value divided by the then-current Conversion Price. The Accrued Value
was equal to the original liquidation preference of $10.00 per share of Series&nbsp;A Preferred Stock plus an additional amount
equal to the dollar amount of any accrued but unpaid dividends (see below). The Conversion Price was initially $10.00 per share,
but was subject to certain anti-dilution adjustments. Holders of Series A Preferred Stock were entitled to vote on an as-converted
basis on all matters on which holders of Legacy CuriosityStream common stock voted. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Holders of Series A Preferred Stock
were entitled to dividends equal to 10% of the Accrued Value per annum. Such dividends were cumulative and accrued daily in arrears.
Cash dividends were payable when, as and if declared by the Board of Directors. If the Board of Directors did not declare a cash
dividend in respect of all or a portion of the dividend when due, the Accrued Value of the Series A Preferred Stock was increased
by a corresponding amount. No such dividends were declared through the Closing Date. As of October 14, 2020 and December 31, 2019,
cumulative dividends on the Series A Preferred Stock totaled $30,216 and $16,945, respectively. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Immediately prior to the effective
date of a Fundamental Change, the Series A Preferred Stock would automatically convert into a number of shares of Legacy CuriosityStream&rsquo;s
Class&nbsp;A Common Stock equal to the Accrued Value (plus any other accrued but unpaid dividends), divided by the lesser of (1)&nbsp;the
applicable acquisition or sale price or (2)&nbsp;the then-current Conversion Price on the date of closing such transaction. A
Fundamental Change was defined in the Certificate of Designations for the Series A Preferred Stock as any consolidation or merger
of the Company or similar transaction or any sale, lease or other transfer of all or substantially all the assets of the Company,
pursuant to which its common stock was converted into, or received a distribution of the proceeds in, cash, securities or other
property, other than pursuant to a transaction in which the shareholders of the Company prior to the transaction continue to own
a majority of the total voting power of the surviving company following such transaction. On August&nbsp;10, 2020, Legacy CuriosityStream
amended the Certificate of Designations to allow for the Merger Agreement to qualify as a Fundamental Change. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company classifies preferred shares
that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of
uncertain events not solely within the Company&rsquo;s control, as temporary equity. Given the redemption rights contained within
the Series A Preferred Stock, the Company accounted for the outstanding preferred stock as temporary equity in the accompanying
consolidated balance sheets through the Closing Date. Series A Preferred Stock, was initially recorded at its fair value, net
of transaction costs, at issuance date. At each reporting period prior to the Closing Date, the amount was adjusted by accreting
changes in the redemption value over the period from the date of issuance to the earliest redemption date. The recorded redemption
value ($168,961 and $155,174 at the Closing Date and December 31, 2019, respectively) includes accrued but unpaid dividends and
accretion of issuance costs. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Immediately prior to the completion
of the Business Combination on October 14, 2020, all outstanding shares of Legacy CuriosityStream&rsquo;s Series A Preferred Stock
converted into 29,365,570 shares of Legacy CuriosityStream Class A Common Stock, which were then converted into Common Stock of
the Company as a result of the Business Combination using the recapitalization Exchange Ratio. The redeemable convertible preferred
stock was also reclassified into permanent equity as a result of the Business Combination on the Closing Date. </P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>


<!-- Field: Page; Sequence: 123; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>CURIOSITYSTREAM INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 8&nbsp;&mdash; Earnings (loss) per share</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Basic and diluted earnings (loss) per
share calculations are calculated on the basis of the weighted average number of shares of the Company&rsquo;s common stock outstanding
during the year. Diluted earnings (loss) per share give effect to all dilutive potential common shares outstanding during the
period using the treasury stock method for stock options and the if-converted method for redeemable convertible preferred stock.
In computing diluted earnings (loss) per share, the average fair value of the Company&rsquo;s common stock for the period is used
to determine the number of shares assumed to be purchased from the exercise price of the options. Purchases of treasury stock
reduce the outstanding shares commencing on the date that the stock is purchased. Common stock equivalents are excluded from the
calculation when a loss is incurred as their effect would be anti-dilutive. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> Year ended <BR> December
    31, </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2020 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2019 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> Numerator: </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left; padding-left: 9pt"> Net loss </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> (38,627 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> (42,517 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt"> Less preferred dividends and accretion of issuance
    costs </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (13,788 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (15,897 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt"> Net loss attributable to common stockholders </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (52,415 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (58,414 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> Denominator: </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt"> Weighted-average shares &ndash; basic </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 18,931,456 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 13,164,675 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt"> Effect of dilutive securities: </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt"> Warrants </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt"> Options </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt"> Restricted Stock Units </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt"> Weighted-average shares &ndash; diluted </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 18,931,456 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 13,164,675 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Basic and diluted loss per share </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (2.77 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (4.44 </TD><TD STYLE="text-align: left"> ) </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> For the years ended December
31, 2020 and 2019, the following share equivalents were excluded from the computation of diluted net loss per share as the inclusion
of such shares would be anti-dilutive due to the net loss incurred during each period. Common shares issuable for warrants, options,
and restricted stock units represent the total amount of outstanding warrants, stock options, and restricted stock units at December
31, 2020 and 2019. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; border-bottom: Black 1.5pt solid"> Antidilutive shares excluded: </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> December
    31, </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> 2020 </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> 2019 </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; font-size: 10pt"> Warrants </TD><TD STYLE="width: 1%; font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right"> 11,462,589 </TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right"> - </TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"> Options </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> 4,710,717 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> 2,292,820 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"> Restricted Stock Units </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> 413,277 </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> - </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1.5pt"> Series A Preferred Stock </TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"> 18,382,848 </TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-bottom: 4pt"> &nbsp; </TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"> 16,586,583 </TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"> 20,675,668 </TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 9&nbsp;&mdash; Stock-based compensation</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> The Company measures the cost of employee
services received in exchange for an award of equity instruments based on the grant date fair value of the award. The fair value
is recognized in earnings over the period during which an employee is required to provide the service. The Company accounts for
forfeitures as they occur. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <I>Legacy CuriosityStream Stock Option Plan</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> Prior to the Business Combination, Legacy
CuriosityStream maintained a stock-based compensation plan. The Legacy CuriosityStream Stock Option Plan provided for the grant
of options to purchase shares of common stock to employees, non-employee&nbsp;directors, consultants and independent contractors
at option exercise prices and vesting terms as determined by the Legacy CuriosityStream Board of Directors. </P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>


<!-- Field: Page; Sequence: 124; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>CURIOSITYSTREAM INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 9&nbsp;&mdash; Stock-based compensation</B> (cont.) </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> Each Legacy CuriosityStream option from
the Legacy CuriosityStream Stock Option Plan that was outstanding immediately prior to the Business Combination, whether vested
or unvested, was converted into an option to acquire a number of shares of Common Stock (each such option, an &ldquo;Exchanged
Option&rdquo;) equal to the product (rounded down to the nearest whole number) of (i) the number of shares of Legacy CuriosityStream
common stock subject to such Legacy CuriosityStream option immediately prior to the Business Combination and (ii) the Exchange
Ratio, at an exercise price per share (rounded up to the nearest whole cent) equal to (A) the exercise price per share of such
Legacy CuriosityStream option immediately prior to the consummation of the Business Combination, divided by (B) the Exchange Ratio.
Except as specifically provided in the Merger Agreement, following the Business Combination, each Exchanged Option will continue
to be governed by the same terms and conditions (including vesting and exercisability terms) as were applicable to the corresponding
former Legacy CuriosityStream option immediately prior to the consummation of the Business Combination. All stock option activity
was retroactively restated to reflect the Exchanged Options. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <I>CuriosityStream 2020 Omnibus Plan</I> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"> In October 2020, the Board of Directors
of the Company adopted the CuriosityStream 2020 Omnibus Plan (the &ldquo;2020 Plan&rdquo;). The 2020 Plan became effective upon
consummation of the Business Combination and succeeds the Legacy CuriosityStream Stock Option Plan. Upon adoption of the 2020
Plan, a total of 7,725,000&nbsp;shares were approved to be issued as stock options, share appreciation rights, restricted stock
units and restricted stock. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The following table summarizes stock
option and restricted stock unit (RSU) activity, prices, and values adjusted by the Exchange Ratio, for the years ended December
31, 2020 and 2019:&nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="14" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> Stock Options </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> Restricted&nbsp;Stock&nbsp;Units </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> Number of Shares Available for
    Issuance Under the Plan </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> Number of Shares </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> Weighted-<BR> Average Exercise
    Price </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> Weighted-<BR> Average Remaining
    Contractual Term (in Years) </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Aggregate
    Intrinsic Value<SUP>(1)</SUP></B></FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> Number of Shares </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> Weighted-<BR> Average Grant Date
    Fair Value </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 44%; text-indent: -0.1in; padding-left: 0.1in"> Outstanding at December 31, 2019 </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 5%; text-align: right"> 567,435 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 5%; text-align: right"> 3,632,565 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 5%; text-align: right"> 2.57 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 5%; text-align: right"> 9.1 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 5%; text-align: right"> 278 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 5%; text-align: right"> - </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 5%; text-align: right"> - </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"> Recapitalization Impact </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 1,339,745 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (1,339,745 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 1.51 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in"> Outstanding at December 31, 2019 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,907,180 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 2,292,820 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 4.08 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 9.1 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 278 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -9pt; padding-left: 0.25in"> Additional Shares Authorized </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,525,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted<SUP>(2)</SUP></FONT> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (3,414,407 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,162,955 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 8.53 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 251,452 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 9.21 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 0.25in"> Options exercised and RSUs vested </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (62,358 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 4.04 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 0.25in"> Forfeited or expired </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 352,993 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (347,851 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 4.05 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (5,142 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 9.21 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 0.25in"> Options cancelled in exchange for RSUs </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 334,849 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (334,849 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 4.20 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 0.25in"> RSUs issued as replacement for cancelled
    options </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (166,967 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 166,967 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 9.21 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 4pt; text-indent: -0.1in; padding-left: 0.1in"> Outstanding at December 31, 2020 </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 2,538,648 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 4,710,717 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 7.06 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 8.5 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 32,349 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 413,277 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 9.21 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in"> Exercisable at December 31, 2019 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 273,958 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 4.04 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 8.9 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 43 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in"> Exercisable at December 31, 2020 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,275,524 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 7.36 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6.6 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 8,320 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in"> Unvested at December 31, 2019 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 2,018,862 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 4.09 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 9.2 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 235 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in"> Unvested at December 31, 2020 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,435,193 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 6.96 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 9.2 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 24,029 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-size: 7pt">&nbsp;&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<!-- Field: Rule-Page --><DIV STYLE="width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid"> &nbsp; </DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT> </TD><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intrinsic
                                         value is based on the difference between the exercise price of in-the-money-stock options
                                         and the fair value of the Company&rsquo;s Common Stock as of the respective balance sheet
                                         date.</FONT> </TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; padding: 0; width: 0px; font-size: 10pt; text-indent: 0"></TD>
    <TD STYLE="text-align: justify; padding: 0; width: 24px; font-size: 10pt; text-indent: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT> </TD>
    <TD STYLE="text-align: justify; padding: 0; font-size: 10pt; text-indent: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Included
    in options granted during the year ended December 31, 2020 is a total of 558,642 fully vested options with an exercise price of
    $11.50 and a five-year contractual term, which resulted in compensation expense totaling $2.1 million being recorded upon
    grant.</FONT> </TD></TR>
  </TABLE>



<P STYLE="margin-top: 0; margin-bottom: 0"> <FONT STYLE="font-size: 7pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The&nbsp;total
grant-date fair value of stock options vested during the year ended December 31, 2020 and 2019 was
$2,967 and $313, respectively. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The intrinsic value of
options exercised during the year ended December 31, 2020 was $373. There were no options exercised during the year ended December 31,
2019. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> &nbsp; </P>

<!-- Field: Page; Sequence: 125; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>CURIOSITYSTREAM INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 9&nbsp;&mdash; Stock-based compensation </B>(cont.) </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Options and RSUs generally
have a four-year vesting period with 25% of the shares vesting on each anniversary date. When options are exercised, the Company&rsquo;s
policy is to issue previously unissued shares of Common Stock to satisfy share option exercises. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The fair value of stock option awards
is estimated using the Black-Scholes option pricing model, which includes a number of assumptions including Company&rsquo;s estimates
of stock price volatility, employee stock option exercise behaviors, future dividend payments, and risk-free interest rates. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The expected term of options granted
is the estimated period of time from the beginning of the vesting period to the date of expected exercise or other settlement,
based on historical exercises and post-vesting terminations. The Company generally estimates expected term based on the midpoint
between the vesting date and the end of the contractual term, the simplified method, given the lack of historical exercise behavior. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The Company uses
historical volatility of similar public companies for estimating volatility. The risk-free interest rate is estimated using the
rate of return on U.S. Treasury securities with maturities that approximate to the expected term of the option. The Company does
not currently anticipate declaring any dividends. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Assumptions used to value the options
granted and the resulting weighted-average grant date fair value and stock-based compensation expense for the years ended December
31, 2020 and 2019 were as follows: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2020 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2019 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left"> Dividend yield </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: center"> 0% </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: center"> 0% </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Expected volatility </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: center"> 60% </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: center"> 60% </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Expected term (years) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.00-6.25</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: center"> 6.25 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Risk-free interest rate </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.38%&nbsp;to&nbsp;1.71%</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.71%&nbsp;to&nbsp;2.54%</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Weighted-average grant date fair value </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 4.15 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 1.04 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Stock-based compensation - Options </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 4,455 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 1,008 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Stock-based compensation - RSUs </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 129 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Stock-based compensation cost is measured
at the grant date, based on the fair value of the award, and is recognized on a straight-line basis over the requisite service
period. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The following table summarizes the
total remaining unrecognized compensation cost as of&nbsp;December&nbsp;31, 2020&nbsp;related to non-vested stock options and
restricted stock units and the weighted average remaining years over which the cost will be recognized: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> Total Unrecognized Compensation
    Cost </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Weighted Average Remaining Years </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 77%; text-align: left"> Stock Options </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 12,398 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 9%; text-align: center"> 3.5 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt"> Restricted Stock Units </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 3,583 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: center"> 3.4 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 4pt"> Total </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 15,981 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 4pt; text-align: center"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


<!-- Field: Page; Sequence: 126; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>CURIOSITYSTREAM INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</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"><P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note
                                         10&nbsp;&mdash; Segment and geographic information</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company operates as one operating
segment. The Company&rsquo;s chief operating decision maker (&ldquo;CODM&rdquo;) is its chief executive officer, who reviews financial
information presented on an entry-wide basis for purposes of making operating decisions, assessing financial performance and allocating
resources. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> All long-lived tangible assets are
located in the United&nbsp;States. Revenue by geographic location, based on the location of the customers, with no foreign country
individually comprising greater than 10% of total revenue, is as follows. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &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> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> Year Ended December 31, </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> 2020 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> 2019 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 64%; text-align: left"> United States </TD><TD STYLE="width: 0%"> &nbsp; </TD>
    <TD STYLE="width: 0; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 31,123 </TD><TD STYLE="width: 0; text-align: left"> &nbsp; </TD><TD STYLE="width: 0%"> &nbsp; </TD>
    <TD STYLE="width: 0; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> 79 </TD><TD STYLE="width: 0; text-align: left"> % </TD><TD STYLE="width: 0%"> &nbsp; </TD>
    <TD STYLE="width: 0; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 14,062 </TD><TD STYLE="width: 0; text-align: left"> &nbsp; </TD><TD STYLE="width: 0%"> &nbsp; </TD>
    <TD STYLE="width: 0; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> 78 </TD><TD STYLE="width: 0; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1.5pt"> International </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 8,498 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 21 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> % </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 3,964 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 22 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 39,621 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 100 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> % </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 18,026 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 100 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> % </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 11&nbsp;&mdash; Related party transactions</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Operating lease</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company sublets a portion of its
office space back to a related party (see Note 13). Related party sublease rental income recognized on a straight-line basis totaled
$53 for the years ended December 31, 2020 and 2019, and is included in general and administrative expenses in the accompanying
consolidated statements of operations. The related party deferred rent receivable related to the straight-line rent accrual was
$67 and $46 at December 31, 2020 and 2019, respectively, and is included in other assets in the accompanying consolidated balance
sheets. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Production agreements</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The Company has
entered into various agreements with a production company for which the Company&rsquo;s Chief Executive Officer has a less than
10% ownership interest. Under the terms of the agreements entered into during the years ended December 31, 2020 and 2019, the
Company paid a total of $3,038 during the year ended December 31, 2020 upon the different milestones stated in the agreements.
Under these agreements, the Company will pay additional amounts totaling $993, payable upon the attainment of the remaining milestones
which are expected to be achieved during the year ending December 31, 2021. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>


<!-- Field: Page; Sequence: 127; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>CURIOSITYSTREAM INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 12&nbsp;&mdash; Retirement Plan</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company administers and participates in a 401(k) plan that covers employees 21&nbsp;years of age or older with three&nbsp;months
or greater of service. The plan permits elective deferrals by the employees from each participant&rsquo;s compensation up to the
maximum allowed by law. The Company matches employee deferrals at 100% on up to 3% of compensation and 50% of employee deferrals
between 3&nbsp;&ndash; 5% of compensation. Participants are immediately vested in their elective deferrals and the Company contributions.
The Company made matching contributions of $211 and $215 for the years ended December 31, 2020 and 2019, respectively.</FONT> </P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 13&nbsp;&mdash; Commitments and contingencies</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>&nbsp;</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Content commitments</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company had $26,022 and $10,858
of content obligations as of December 31, 2020 and 2019, respectively, comprised of $2,116 and $3,306 included in current content
liabilities in the accompanying consolidated balance sheets as of December 31, 2020 and 2019, respectively, and $23,906 and $7,552
of obligations that are not reflected in the accompanying consolidated balance sheets of December 31, 2020 and 2019, respectively
as they did not yet meet the asset recognition criteria for content assets (see Note 2). Of the content obligations that are not
reflected in the consolidated balance sheets, $22,356 and $1,550 of these amounts are expected to be paid during the years ending
December 31, 2021 and 2022, respectively. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Content obligations include amounts
related to licensed, commissioned and internally produced streaming content. An obligation for the production of content includes
non-cancelable commitments under creative talent and employment agreements. An obligation for the licensed and commissioned content
is incurred at the time the Company enters into an agreement to obtain future titles. Once a title becomes available, a content
liability is generally recorded. Certain agreements include the obligation to license rights for unknown future titles, the ultimate
quantity and/or fees for which are not yet determinable as of the reporting date. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>&nbsp;</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Advertising commitments</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company has certain commitments
with regards to future advertising and marketing expenses as stated in the various licensee agreements. Certain of the agreements
do not specify the amount of advertising and marketing commitment; however, the total commitments for agreements which do specify
the amount are $35,399 as of December 31, 2019, and $17,917 as of December 31, 2020, of which $11,917 and $6,000 is expected to
be paid in 2021 and 2022, respectively. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>&nbsp;</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Operating leases</I></B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company leases corporate office
space in Silver Spring, Maryland. The lease was set to expire April 30, 2027 with an accelerated expiration option on either July
31, 2021 or July 31, 2023, which required payment of an accelerated payment as defined in the lease agreement. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> On August 1, 2020, the lease was amended
to extend the term of the lease for an additional 70 months from the previous expiration date of April 30, 2027 to now expire
on February 28, 2033. The terms of the lease include a rent abatement period of ten months and a tenant improvement allowance
of $93 and $295 for 2020 and 2021, respectively. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>&nbsp;</B> </P>


<!-- Field: Page; Sequence: 128; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>CURIOSITYSTREAM INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 13&nbsp;&mdash; Commitments and contingencies </B>(cont.) </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Total rent paid under the terms of
the lease was $317 and $530 for the years ended December 31, 2020 and 2019, respectively. Rent expense has been calculated on
a straight-line basis over the term of the lease. Accordingly, rent expense included in general and administrative expenses in
the accompanying consolidated statements of operations totaled $528 and $532 for the years ended December 31, 2020 and 2019, respectively. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> The CuriosityStream office rent and related party sublease
rental income future minimum lease payments for the above operating lease is as follows: </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <B>Year Ending December 31,</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>CuriosityStream <BR> rent</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>Sublease rental <BR> income</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> <B>Net rent</B> </TD><TD STYLE="padding-bottom: 1.5pt"> <B>&nbsp;</B> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 64%; text-align: left"> 2021 </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 304 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp;$ </TD><TD STYLE="width: 9%; text-align: right"> (30 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $&nbsp; </TD><TD STYLE="width: 9%; text-align: right"> 274 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> 2022 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 530 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (53 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 477 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> 2023 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 543 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (54 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 489 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> 2024 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 557 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (56 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 501 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> 2025 </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 571 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (57 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 514 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt"> Thereafter </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 4,531 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (453 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 4,078 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 4pt"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 7,036 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> (703 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 6,333 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 14&nbsp;&mdash; Income taxes</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The components of the provision for
income taxes are as follows: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> For the year ended December 31, </TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2020 </TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2019 </TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"> Provision for income taxes: </TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"> Current: </TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-left: 0.25in"> Federal </TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left"> $ </TD><TD STYLE="font-size: 10pt; text-align: right"> &mdash; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left"> $ </TD><TD STYLE="font-size: 10pt; text-align: right"> &mdash; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 76%; font-size: 10pt; text-align: left; padding-left: 0.25in"> State and local </TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right"> 25 </TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right"> 12 </TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-bottom: 1.5pt; padding-left: 0.25in"> Foreign </TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"> 154 </TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"> 130 </TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in"> Total current provision </TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"> 179 </TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"> 142 </TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 0.125in"> Deferred: </TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-left: 0.25in"> Federal </TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left"> $ </TD><TD STYLE="font-size: 10pt; text-align: right"> &mdash; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left"> $ </TD><TD STYLE="font-size: 10pt; text-align: right"> &mdash; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25in"> State and local </TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &mdash; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; text-align: right"> &mdash; </TD><TD STYLE="font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-bottom: 1.5pt; padding-left: 0.25in"> Foreign </TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"> &mdash; </TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"> &mdash; </TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in"> Total deferred provision </TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"> &mdash; </TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"> &mdash; </TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 4pt"> Total tax provision </TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"> 179 </TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"> 142 </TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>&nbsp;</B> </P>


<!-- Field: Page; Sequence: 129; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>CURIOSITYSTREAM INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 14&nbsp;&mdash; Income taxes </B>(cont.) </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The following table reconciles the
Company&rsquo;s effective income tax rate to the U.S. federal statutory income tax&nbsp;rate. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> For the year ended December 31, </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> 2020 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> 2019 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; text-align: left"> US federal statutory income tax provision </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> (8,074 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> 21.0 </TD><TD STYLE="width: 1%; text-align: left"> % </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> (8,897 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> 21.0 </TD><TD STYLE="width: 1%; text-align: left"> % </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Permanent items </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (585 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1.5 </TD><TD STYLE="text-align: left"> % </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (18 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 0.0 </TD><TD STYLE="text-align: left"> % </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> State and local income taxes, net of federal tax benefit </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (2,002 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 5.2 </TD><TD STYLE="text-align: left"> % </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (2,589 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6.1 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Change in valuation allowance </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 9,798 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (25.5 </TD><TD STYLE="text-align: left"> )% </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 11,904 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (28.1 </TD><TD STYLE="text-align: left"> )% </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Return to provision adjustments </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 888 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (2.3 </TD><TD STYLE="text-align: left"> )% </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 230 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (0.5 </TD><TD STYLE="text-align: left"> )% </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Foreign withholding tax </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 154 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (0.4 </TD><TD STYLE="text-align: left"> )% </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 130 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (0.3 </TD><TD STYLE="text-align: left"> )% </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Change in state tax rate </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> % </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (616 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1.5 </TD><TD STYLE="text-align: left"> % </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1.5pt"> Other </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> % </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (2 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 0.0 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> % </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 4pt"> Total Tax Expense </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 179 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> (0.5 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> )% </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 142 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> (0.3 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> )% </TD></TR>
  </TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The Company has recorded a $179 and
$142 current provision primarily related to foreign withholding income taxes for the years ended December 31, 2020 and 2019, respectively.
For the year ended December 31, 2020 and 2019, the Company&rsquo;s provision for income taxes differs from the federal statutory
rate primarily due to the Company being in a full valuation allowance position and not recognizing a benefit for either federal
or state income tax purposes. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Deferred income taxes reflect the net
tax effect of temporary differences between the amounts recorded for financial reporting purposes and the bases recognized for
tax purposes. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> The major components of deferred tax
assets and liabilities are as follows: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> December 31, </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2020 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2019 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD> Deferred tax assets </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left; text-indent: -10pt; padding-left: 20pt"> Net operating loss carryforwards </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 24,877 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 15,905 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 20pt"> Accrued expenses and reserves </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 494 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &mdash; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 20pt"> Intangibles and content assets </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 2,712 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,573 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 20pt"> Deferred rent </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 260 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 231 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 20pt"> Stock based compensation </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,384 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 283 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 20pt"> Other </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 93 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 78 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 20pt"> Total deferred tax assets </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 29,820 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 20,070 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 10pt"> Valuation allowance </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (29,817 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (20,019 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"> Net deferred taxes </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 51 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 10pt"> Unrealized gain </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (3 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (51 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 4pt; text-indent: -10pt; padding-left: 10pt"> Net deferred tax assets (liability) </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> &mdash; </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> &mdash; </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp;<B>&nbsp;</B> </P>


<!-- Field: Page; Sequence: 130; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>CURIOSITYSTREAM INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
(in thousands, except share and per share data)</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 14&nbsp;&mdash; Income taxes </B>(cont.) </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> As of December 31, 2020 and 2019, the
Company maintained a full valuation allowance on its net deferred tax assets. The deferred tax assets predominantly relate to
operating losses, intangibles and content assets, and stock-based compensation. As a result of Legacy CuriosityStream&rsquo;s
conversion from an LLC to a C corporation in 2018, Legacy CuriosityStream recognized a partial step-up in the tax basis of intangibles
and content assets that will be recovered as those assets are sold or the basis is amortized. On the date of the conversion, Legacy
CuriosityStream recorded an estimated net deferred tax asset relating to this partial step-up in tax basis. The valuation allowance
was determined in accordance with applicable accounting guidance, which requires an assessment of both positive and negative evidence
when determining whether it is more likely than not that deferred tax assets are recoverable. Such assessment is required on a
jurisdiction-by-jurisdiction basis. The Company&rsquo;s history of cumulative losses, along with expected future U.S. losses,
required that a full valuation allowance be recorded against all net deferred tax assets. The Company intends to maintain a full
valuation allowance on net deferred tax assets until sufficient positive evidence exists to support a reversal of the valuation
allowance. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> As of December 31, 2020 and 2019, the
Company had federal net operating loss carryforwards of approximately $97,227 and $59,566, respectively, which do not expire.
As of December 31, 2020 and 2019, the Company had gross state net operating loss carryforwards of approximately $76,979&nbsp;and
$56,101, respectively, which begin to expire in 2024. All of the federal and state net operating losses may be subject to change
of ownership limitations provided by the Internal Revenue Code and similar state provisions. An annual loss limitation may result
in the expiration or reduced utilization of the net operating losses. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> No liability related to uncertain tax
positions has been recorded in the consolidated financial statements. The Company recognizes the tax benefit of an uncertain tax
position only if it is more likely than not that the position is sustainable upon examination by the taxing authority, based on
the technical merits. The tax benefit recognized is measured as the largest amount of benefit which is more likely than not (greater
than 50% likely) to be realized upon settlement with the taxing authority. The Company recognizes interest accrued and penalties
related to unrecognized tax benefits in its tax provision. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> On March 27, 2020, the Coronavirus
Aid, Relief and Economic Security Act (the &ldquo;CARES Act&rdquo;) was signed into law in response to the COVID-19 pandemic.
The CARES Act provides numerous tax provisions and stimulus measures, including temporary changes regarding the prior and future
utilization of net operating losses, temporary changes to the prior and future limitations on interest deductions, and technical
corrections from prior tax legislation for tax depreciation of certain qualified improvement property. The Company has evaluated
the provisions of the CARES Act relating to income taxes which will not result in material impact on its consolidated financial
statements.&nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The Company has not been audited by the Internal Revenue
Service or any state income or franchise tax agency. All tax years remain open to examination by major taxing jurisdictions
to which the Company is subject. </P>



<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Note 15&nbsp;&mdash; Subsequent events</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> On February 8, 2021, the Company consummated
an underwritten public offering (the &ldquo;Offering&rdquo;) of 6,500,000 shares of the Company&rsquo;s common stock, par value
per share $0.0001 (&ldquo;Common Stock&rdquo;), plus an over-allotment option to purchase up to 975,000 additional shares of Common
Stock granted to the underwriters who participated in the Offering, which over-allotment option was exercised by the underwriters
in full on February 5, 2021. The net proceeds to the Company from the Offering were $94.1 million, after deducting underwriting
discounts and commissions and offering expenses payable by us in connection with the Offering. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Subsequent to December 31, 2020, the
Company received funds of approximately $55 million for the exercise of 4.8 million warrants. </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> &nbsp; </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Effective February 28, 2021, the maturity
of the line of credit agreement was extended to February 28, 2022. All other terms of the line of credit agreement remained unchanged. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 131; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART II&nbsp;&#8212; INFORMATION NOT
REQUIRED IN PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -48pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><B>Item&nbsp;13. &nbsp;Other
Expenses of Issuance and Distribution.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The following table
sets forth all costs and expenses, other than underwriting discounts and commissions, in connection with the sale of our securities
being registered, all of which will be paid by us. All amounts shown are estimates, except for the SEC registration fee and the
FINRA filing fee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount <BR> Paid or <BR> to be Paid</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%; text-align: left; text-indent: -10pt; padding-left: 10pt">SEC registration fee</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">15,657.53</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">FINRA fee</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Legal fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Accounting fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Transfer Agent and registrar fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 10pt">Miscellaneous fees and expenses</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;*</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 4pt; text-indent: -10pt; padding-left: 10pt">Total</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

<!-- Field: Rule-Page --><DIV STYLE="width: 25%"><DIV STYLE="border-top: Black 1.5pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">These fees and expenses are calculated based on the securities
offered and the number of issuances and accordingly cannot be defined at this time.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -48pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><B>Item&nbsp;14. &nbsp;Indemnification
of Directors and Officers.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Section&nbsp;145 of
the DGCL provides that a corporation may indemnify directors and officers as well as other employees and individuals against expenses
(including attorneys&rsquo; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person
in connection with any threatened, pending or completed actions, suits or proceedings in which such person is made a party by reason
of such person being or having been a director, officer, employee or agent of the registrant. The DGCL provides that Section&nbsp;145
is not exclusive of other rights to which those seeking indemnification may be entitled under any bylaws, agreement, vote of stockholders
or disinterested directors or otherwise. The registrant&rsquo;s certificate of incorporation and bylaws provide for indemnification
by the registrant of its directors and officers to the fullest extent permitted by the DGCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Section&nbsp;102(b)(7)
of the DGCL permits a corporation to provide in its certificate of incorporation that a director of the corporation shall not be
personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except
for liability (1)&nbsp;for any breach of the director&rsquo;s duty of loyalty to the corporation or its stockholders, (2)&nbsp;for
acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (3)&nbsp;for unlawful
payments of dividends or unlawful stock repurchases, redemptions or other distributions or (4)&nbsp;for any transaction from which
the director derived an improper personal benefit. The registrant&rsquo;s second amended and restated certificate of incorporation
provides for such limitation of liability to the fullest extent permitted by the DGCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The registrant has entered
into indemnification agreements with each of its directors and executive officers to provide contractual indemnification in addition
to the indemnification provided in its second amended and restated certificate of incorporation. Each indemnification agreement
provides for indemnification and advancements by the registrant of certain expenses and costs relating to claims, suits or proceedings
arising from his or her service to the registrant or, at the registrant&rsquo;s request, service to other entities, as officers
or directors to the maximum extent permitted by applicable law. The registrant believes that these provisions and agreements are
necessary to attract qualified directors and executive officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The registrant also
maintains standard policies of insurance under which coverage is provided (1)&nbsp;to its directors and officers against loss arising
from claims made by reason of breach of duty or other wrongful act, while acting in their capacity as directors and officers of
the registrant, and (2)&nbsp;to the registrant with respect to payments which may be made by the registrant to such officers and
directors pursuant to any indemnification provision contained in the registrant&rsquo;s second amended and restated certificate
of incorporation and amended and restated bylaws or otherwise as a matter of law</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 132; Options: NewSection -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; 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-align: justify; text-indent: 0.25in">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><B>Item&nbsp;15. &nbsp;Recent
Sales of Unregistered Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Company Transactions</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Founder Shares</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In June&nbsp;2019, we
issued an aggregate of 3,593,750 Founder Shares to the Sponsor, for an aggregate purchase price of $25,000 in cash. On November
19, 2019, we effected a stock dividend of 0.04 shares for each Founder Share outstanding, resulting in the Sponsor holding an aggregate
of 3,737,500 Founder Shares. The Founder Shares automatically converted into shares of Common Stock at Closing, on a one-for-one
basis, subject to certain adjustments. No underwriting discounts or commissions were paid with respect to the issuance or conversion
of the Founder Shares. The shares of Class&nbsp;B Common Stock issued as Founder Shares, and the shares of Common Stock issued
upon their conversion, were not registered under the Securities Act and were issued in reliance upon the exemption provided in
Section&nbsp;4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Private Placement Warrants</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Simultaneously with
our IPO on November 22, 2019, we sold to the Sponsor an aggregate of 4,740,000 Warrants at $1.00 per Warrant for an aggregate purchase
price of $4,740,000. Each whole Private Placement Warrant entitles the holder thereof to purchase one share of Common Stock at
a price of $11.50 per share, subject to certain adjustments. In connection with the Merger, (i) 711,000 of the Private Placement
Warrants held by the Sponsor were forfeited and (ii)&nbsp;an aggregate of 353,000 were forfeited by the Sponsor and reissued by
the Company to certain PIPE Investors. The Private Placement Warrants will expire five years after the Closing or earlier upon
redemption or liquidation. No underwriting discounts or commissions were paid with respect to such sale. The Warrants were not
registered under the Securities Act at their issuance and were issued in reliance upon the exemption provided in Section&nbsp;4(a)(2)
of the Securities Act and/or Regulation D promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Merger Consideration</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Pursuant to the
terms of the Merger, the Company issued an aggregate of 31,556,837 shares of Common Stock to holders of Legacy CuriosityStream
common stock and as shares held in escrow for a period of twelve (12) months after the Closing to satisfy indemnification obligations
and final working capital calculations effective upon the Closing of the Merger. The shares of Common Stock issued at the Closing
of the Merger were not registered under the Securities Act and were issued in reliance upon the exemption provided in Section&nbsp;4(a)(2)
of the Securities Act and/or Regulation D promulgated thereunder. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>PIPE Subscription Agreements</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">On August 10, 2020,
the Company entered into Subscription Agreements with the PIPE Investors, pursuant to which, among other things, the PIPE Investors
agreed to subscribe for and purchase, and the Company agreed to issue and sell to the PIPE Investors, an aggregate of 2,500,000
shares of Common Stock for an aggregate purchase price of $25,000,000 (the &ldquo;PIPE&rdquo;). The PIPE was completed concurrently
with the Closing. B. Riley Securities Inc. acted as the Company&rsquo;s exclusive placement agent in connection with the PIPE.
At the closing of the PIPE, the Company paid to B. Riley Securities Inc. and to Stifel, Nicolaus&nbsp;&amp; Company, Incorporated
a total cash fee equal to approximately 2.3% of the gross proceeds received by the Company in the PIPE, totaling approximately
$574,000. The shares of Common Stock issued pursuant to the Subscription Agreements were not registered under the Securities Act
and were issued in reliance upon the exemption provided in Section&nbsp;4(a)(2) of the Securities Act and/or Regulation D promulgated
thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Warrant Issuance</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">On the Closing Date,
the Company issued 353,000 Warrants to the PIPE Investors and certain other investors. Concurrently with the issuance of these
Warrants, the Sponsor forfeited a like number of Warrants. The Warrants were not registered under the Securities Act at their issuance
and were issued in reliance upon the exemption provided in Section&nbsp;4(a)(2) of the Securities Act and/or Regulation D promulgated
thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Legacy CuriosityStream Transactions</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Series A Convertible Preferred Stock</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In November and
December&nbsp;2018, Legacy CuriosityStream completed a private placement of 14,557,000 shares of Legacy CuriosityStream common
stock underlying the shares of Legacy CuriosityStream&rsquo;s Series A Convertible Preferred Stock, par value $0.01 per share
for gross proceeds of $145,570,000 (the &ldquo;Series A Private Placement&rdquo;). Stifel, Nicolaus&nbsp;&amp; Company, Incorporated
acted as the exclusive financial advisor and placement agent to Legacy CuriosityStream in connection with the Series A Private
Placement, and received a cash fee equal to 3.8% of the gross proceeds of the Series A Private Placement (subject to certain exceptions),
totaling approximately $5,552,000, at Closing. The shares issued pursuant to the Series A Private Placement were not registered
under the Securities Act and were issued in reliance upon the exemption provided in Section&nbsp;4(a)(2) of the Securities Act
and/or Regulation D promulgated thereunder. </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>

<!-- Field: Page; Sequence: 133 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; 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-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><B>Item&nbsp;16. &nbsp;Exhibits
and Financial Statement Schedules.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">(a) &nbsp;Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 9%; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
    No.</B></FONT> </TD>
    <TD STYLE="white-space: nowrap; width: 1%"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 90%; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT> </TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390020021306/ea125257ex2-1_software.htm">Agreement
    and Plan of Merger, dated as of August 10, 2020, by and among the Registrant, CS Merger Sub Inc., CuriosityStream Operating Inc.
    and Hendricks Factual Media LLC (filed as Exhibit 2.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed with the SEC
    on August 11, 2020, and incorporated herein by reference).</A></FONT> </TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390020031372/ea128083ex3-1_softwareacq.htm">Second
    Amended and Restated Certificate of Incorporation of CuriosityStream Inc., dated as of October 14, 2020 (filed as Exhibit 3.1 to
    the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed with the SEC on October 14, 2020, and incorporated herein by reference).</A></FONT> </TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.2</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390020031372/ea128083ex3-2_softwareacq.htm">Amended
    and Restated Bylaws of CuriosityStream Inc., dated as of October 14, 2020 (filed as Exhibit 3.2 to the Registrant&rsquo;s Current
    Report on Form&nbsp;8-K filed with the SEC on October 14, 2020, and incorporated herein by reference).</A></FONT> </TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390019022557/fs12019a1ex4-2_softwareacq.htm">Specimen
    Common Stock Certificate (filed as Exhibit 4.2 to the Registrant&rsquo;s Amendment No.&nbsp;1 to Form&nbsp;S-1 Registration Statement
    filed with the SEC on November 8, 2019, and incorporated herein by reference).</A></FONT> </TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390019022557/fs12019a1ex4-3_softwareacq.htm">Specimen
    Warrant Certificate (filed as Exhibit 4.3 to the Registrant&rsquo;s Amendment No.&nbsp;1 to Form&nbsp;S-1 Registration Statement
    filed with the SEC on November 8, 2019, and incorporated herein by reference).</A></FONT> </TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390019024604/f8k111919ex4-1_softwareacq.htm">Warrant
    Agreement, dated November 19, 2019, by and between Continental Stock Transfer&nbsp;&amp; Trust Company, LLC and the Registrant (filed
    as Exhibit 4.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed with the SEC on November 25, 2019, and incorporated
    herein by reference).</A></FONT> </TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> 4.4 </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390021018943/f10k2020ex4-4_curiosity.htm" STYLE="-sec-extract: exhibit">Amendment No. 1 to Warrant Agreement, dated March 30, 2021, by and between Continental Stock Transfer&nbsp;&amp; Trust Company, LLC and the Registrant (filed as Exhibit 4.4 to the Registrant&rsquo;s Annual Report on Form&nbsp;10-K filed with the SEC on March 31, 2021, and incorporated herein by reference).</A> </TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390020032165/fs12020ex5-1_curiosity.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion
    of Arnold&nbsp;&amp; Porter Kaye Scholer LLP (filed as Exhibit 5.1 to the Registrant&rsquo;s Form S-1 Registration Statement filed
    with the SEC on October 19, 2020, and incorporated herein by reference).</FONT></A> </TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390019024604/f8k111919ex10-1_softwareacq.htm">Letter
    Agreement, dated November 19, 2019, by and among the Registrant, the Registrant&rsquo;s officers and directors, and Software Acquisition
    Holdings LLC (filed as Exhibit 10.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed with the SEC on November 25,
    2019, and incorporated herein by reference).</A></FONT> </TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.2</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390019024604/f8k111919ex10-3_softwareacq.htm">Registration
    Rights Agreement, dated November 19, 2019, by and among the Registrant and the security holders party thereto (filed as Exhibit 10.3
    to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed with the SEC on November 25, 2019, and incorporated herein by reference).</A></FONT> </TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.3</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390019021151/fs12019ex10-5_softwareacq.htm">Securities
    Subscription Agreement, dated June 25, 2019, by and between the Registrant and Software Acquisition Holdings LLC (filed as Exhibit
    10.5 to the Registrant&rsquo;s Amendment No.&nbsp;1 to Form&nbsp;S-1 Registration Statement filed with the SEC on November 8, 2019,
    and incorporated herein by reference).</A></FONT> </TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.4</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390019024604/f8k111919ex10-5_softwareacq.htm">Private
    Placement Warrants Purchase Agreement, dated November 19, 2019, by and between the Registrant and Software Acquisition Holdings LLC
    (filed as Exhibit 10.5 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed with the SEC on November 25, 2019, and incorporated
    herein by reference).</A></FONT> </TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.5</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390020021306/ea125257ex10-1_software.htm">Form
    of Subscription Agreement (filed as Exhibit 10.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed with the SEC on
    August 11, 2020, and incorporated herein by reference).</A></FONT> </TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.6</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390020031372/ea128083ex10-10_softwareacq.htm">Employment
    Agreement, dated August 7, 2020, by and between CuriosityStream Operating Inc. and Clint Stinchcomb (filed as Exhibit 10.10 to the
    Registrant&rsquo;s Current Report on Form&nbsp;8-K filed with the SEC on October 14, 2020, and incorporated herein by reference).</A></FONT> </TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 134 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; 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-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 9%"><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>Exhibit No.</B> </P></TD>
    <TD STYLE="padding-bottom: 1.5pt; white-space: nowrap; width: 1%"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 90%; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.7</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390020031372/ea128083ex10-11_softwareacq.htm">Registration
    Rights Agreement, dated November 20, 2018, by and between CuriosityStream Operating Inc. and Stifel, Nicolaus&nbsp;&amp; Company
    Inc. (filed as Exhibit 10.11 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed with the SEC on October 14, 2020,
    and incorporated herein by reference).</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.8</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390020031372/ea128083ex10-12_softwareacq.htm">Investor
    Rights Agreement, dated October 14, 2020, by and among the Registrant, CuriosityStream Operating Inc., Hendricks Factual Media
    LLC, Software Acquisition Holdings LLC and the officers and directors of CuriosityStream Operating Inc. party thereto (filed
    as Exhibit 10.12 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed with the SEC on October 14, 2020, and incorporated
    herein by reference).</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.9</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390020031372/ea128083ex10-13_softwareacq.htm">Warrant
    Forfeiture Letter, dated October 14, 2020, by and between the Registrant and Software Acquisition Holdings LLC (filed as Exhibit
    10.13 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed with the SEC on October 14, 2020, and incorporated herein
    by reference).</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.10</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390020031372/ea128083ex10-14_softwareacq.htm">CuriosityStream
    Inc. 2020 Omnibus Incentive Plan (filed as Exhibit 10.14 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed with
    the SEC on October 14, 2020, and incorporated herein by reference).</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.11</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390020031372/ea128083ex10-15_softwareacq.htm">Form
    of Rollover Non-Qualified Stock Option Agreement (filed as Exhibit 10.15 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K
    filed with the SEC on October 14, 2020, and incorporated herein by reference).</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.12</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390020031372/ea128083ex10-16_softwareacq.htm">Form
    of Indemnification Agreement (filed as Exhibit 10.16 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed with
    the SEC on October 14, 2020, and incorporated herein by reference).</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.13</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390020031372/ea128083ex10-17_softwareacq.htm">Restricted
    Stock Agreement, dated October 14, 2020, by and between the Registrant and Software Acquisition Holdings LLC (filed as Exhibit
    10.17 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed with the SEC on October 14, 2020, and incorporated herein
    by reference).</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.14</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390020031372/ea128083ex10-18_softwareacq.htm">Loan
    Agreement, dated February 12, 2020, by and between Bank of America, N.A. and CuriosityStream Inc (filed as Exhibit 10.18 to
    the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed with the SEC on October 14, 2020, and incorporated herein by
    reference).</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.15</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390020031372/ea128083ex10-19_softwareacq.htm">Promissory
    Note, dated May 1, 2020, executed by CuriosityStream Operating Inc. in favor of Bank of America, N.A. (filed as Exhibit 10.19
    to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed with the SEC on October 14, 2020, and incorporated herein
    by reference).</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD> 10.16 </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390021016685/ea138049ex10-1_curiosity.htm">Form
    of Restricted Stock Unit Award Agreement (filed as Exhibit 10.1 to the Registrant&rsquo;s Current Report on Form 8-K filed
    with the SEC on March 19, 2021, and incorporated herein by reference).</A> </TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> 10.17 </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0; font-size: 10pt"> <A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390021016685/ea138049ex10-2_curiosity.htm">Form
                                    of Non-Qualified Stock Option Agreement (filed as Exhibit 10.2 to the Registrant&rsquo;s Current
                                    Report on Form 8-K filed with the SEC on March 19, 2021, and incorporated herein by reference).</A> </P></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> 10.18 </P></TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390021016685/ea138049ex10-3_curiosity.htm">Form
    of Incentive Stock Option Agreement (filed as Exhibit 10.3 to the Registrant&rsquo;s Current Report on Form 8-K filed with
    the SEC on March 19, 2021, and incorporated herein by reference).</A> </TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16.1</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390020031372/ea128083ex16-1_softwareacq.htm">Letter
    from Marcum LLP to the U.S. Securities and Exchange Commission dated October 14, 2020 (filed as Exhibit 16.1 to the Registrant&rsquo;s
    Current Report on Form&nbsp;8-K filed with the SEC on October 14, 2020, and incorporated herein by reference).</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21.1</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390020031372/ea128083ex21-1_softwareacq.htm">Subsidiaries
    of the Registrant (filed as Exhibit 21.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed with the SEC on October
    14, 2020, and incorporated herein by reference).</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"><A HREF="ea138522ex23-1_curiosity.htm"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Ernst&nbsp;&amp; Young LLP</FONT> </A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.2</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1776909/000121390020032165/fs12020ex5-1_curiosity.htm"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Arnold&nbsp;&amp; Porter Kaye Scholer LLP (included in Exhibit 5.1 to the Registration Statement)</FONT> </A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.1</FONT> </TD>
    <TD STYLE="white-space: nowrap"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#poa">Powers
    of Attorney (included on the signature page of the Registration Statement).</A></FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(b)</TD><TD STYLE="text-align: justify">Financial Statement Schedules</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">All schedules have been
omitted as not applicable or not required under the rules of Regulation S-X.</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>

<!-- Field: Page; Sequence: 135 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; 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-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><B>Item&nbsp;17. &nbsp;Undertakings.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -24pt">(a) &nbsp;The
undersigned registrant hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(1) To
file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">(i) &nbsp;to
include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">(ii) to
reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if
the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high
end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule&nbsp;424(b)
if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering
price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective registration statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">(iii)&nbsp;&nbsp;&nbsp;to
include any material information with respect to the plan of distribution not previously disclosed in the registration statement
or any material change to such information in the registration statement; <I>provided, however</I>, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Paragraphs (i), (ii)&nbsp;and
(iii)&nbsp;do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
in reports filed with or furnished to the SEC by the registrant pursuant to Section&nbsp;13 or Section&nbsp;15(d) of the Exchange
Act, that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to
Rule&nbsp;424(b) that is part of the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(2) That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(3) To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(4) That,
for the purpose of determining liability under the Securities Act to any purchaser:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">(i) &nbsp;Each
prospectus filed by a registrant pursuant to Rule&nbsp;424(b)(3) shall be deemed to be part of the registration statement as of
the date the filed prospectus was deemed part of and included in the registration statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">(ii) Each
prospectus required to be filed pursuant to Rule&nbsp;424(b)(2), (b)(5) or (b)(7) as part of a registration statement in reliance
on Rule&nbsp;430B relating to an offering made pursuant to Rule&nbsp;415(a)(1)(i), (vii)&nbsp;or (x)&nbsp;for the purpose of providing
the information required by Section&nbsp;10(a) of the Securities Act shall be deemed to be part of and included in the registration
statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract
of sale of securities in the offering described in the prospectus. As provided in Rule&nbsp;430B, for liability purposes of the
issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration
statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities
at that time shall be deemed to be the initial <I>bona fide </I>offering thereof. <I>Provided</I>, <I>however</I>, that no statement
made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or
deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will,
as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made
in the registration statement or prospectus that was part of the registration statement or made in any such document immediately
prior to such effective date.</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>

<!-- Field: Page; Sequence: 136 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; 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-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(5) That,
for the purpose of determining liability of the registrant under the Securities Act to any purchaser in the initial distribution
of the securities, the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant
pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if
the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant
will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">(i) &nbsp;Any
preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule&nbsp;424;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">(ii) Any
free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to
by the undersigned registrant;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">(iii)&nbsp;&nbsp;&nbsp;The
portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant
or its securities provided by or on behalf of the undersigned registrant; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">(iv)&nbsp;&nbsp;&nbsp;Any
other communication that is an offer in the offering made by the undersigned registrant to the purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(6) That,
for purposes of determining any liability under the Securities Act, each filing of the registrant&rsquo;s annual report pursuant
to Section&nbsp;13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&rsquo;s annual
report pursuant to Section&nbsp;15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall
be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at
that time shall be deemed to be the initial <I>bona fide </I>offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(7) Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons
of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event
that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid
by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is
asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will,
unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed
by the final adjudication of such issue.</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>

<!-- Field: Page; Sequence: 137 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; 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-align: center">&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: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Pursuant to the
requirements of the Securities Act, the Registrant has duly caused this Post-Effective Amendment No. 1 to the Registration Statement
on Form S-1to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Silver Spring, Maryland, on
March 31, 2021. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>CURIOSITYSTREAM INC</B>.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> Clint Stinchcomb</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name:&nbsp;</FONT></TD>
    <TD STYLE="width: 33%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Clint Stinchcomb</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title:</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">President and Chief Executive Officer</FONT></TD></TR>
</TABLE>
<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"><A NAME="poa"></A><B>POWER OF ATTORNEY</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: 0.25in">Each person whose signature
appears below constitutes and appoints each of Clint Stinchcomb and Jason Eustace, acting alone or together with another attorney-in-fact,
as his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for such person and
in his or her name, place and stead, in any and all capacities, to sign any or all further amendments (including post-effective
amendments) to this registration statement (and any additional registration statement related hereto permitted by Rule&nbsp;462(b)
promulgated under the Securities Act, (and all further amendments, including post-effective amendments, thereto)), and to file
the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission,
granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act
and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could
do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes,
may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Pursuant to the
requirements of the Securities Act, this Post-Effective Amendment No. 1 to the Registration Statement on Form S-1 has been signed
by the following persons in the capacities and on the dated indicated. </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="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 36%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Clint Stinchcomb</FONT> </TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="width: 40%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President and Chief Executive
    Officer, Director</FONT> </TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="width: 20%; text-align: center"> March 31, 2021 </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Clint Stinchcomb</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Executive Officer)</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Jason Eustace</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer and Treasurer</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 31, 2021</FONT> </TD></TR>
<TR>
    <TD STYLE="vertical-align: top"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jason Eustace</FONT> </TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal
    Financial Officer and Principal Accounting Officer)</FONT> </TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 2.25pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="vertical-align: top"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 2.25pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid"> * </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman of the Board, Director</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="text-align: center"> March 31, 2021 </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">John Hendricks</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid"> * </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="text-align: center"> March 31, 2021 </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Elizabeth Hendricks</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid"> * </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="text-align: center"> March 31, 2021 </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Patrick Keeley</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid"> * </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="text-align: center"> March 31, 2021 </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Matthew Blank</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid"> * </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="text-align: center"> March 31, 2021 </TD></TR>

<TR STYLE="vertical-align: bottom">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jonathan Huberman</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid"> * </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="text-align: center"> March 31, 2021 </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mike Nikzad</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD></TR>

<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 28%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT> </TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="width: 46%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="width: 24%; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Andrew Hendricks</FONT> </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.25pt"> &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: bottom">
    <TD STYLE="width: 5%"> <FONT STYLE="font-size: 10pt">* By:</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%"> <FONT STYLE="font-size: 10pt">/s/ Clint Stinchcomb</FONT> </TD>
    <TD STYLE="width: 60%"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-size: 10pt">Clint Stinchcomb</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-size: 10pt">As Attorney-in-Fact</FONT> </TD>
    <TD> &nbsp; </TD></TR>
</TABLE>
<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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-top: 0pt; margin-bottom: 0pt; text-align: center">II-7</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="width: 100%"><DIV STYLE="border-top: Black 1.5pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>ea138522ex23-1_curiosity.htm
<DESCRIPTION>CONSENT OF ERNST & YOUNG LLP
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><B>Exhibit 23.1</B></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Consent of Independent Registered Public
Accounting Firm</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the reference to our firm
under the caption &ldquo;Experts&rdquo; and to the use of our report dated March 31, 2021, in Post-Effective Amendment No. 1 to the
Registration Statement (Form S-1 No. 333-250822) and related Prospectus of CuriosityStream Inc. dated March 31, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 40%; text-align: left">/s/ Ernst &amp; Young LLP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Baltimore, Maryland</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>March 31, 2021</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>img_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 img_001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1" != 7<# 2(  A$! Q$!_\0
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MIX9\/+;Y42KX;T745N&!/S>2=6\;"$D*"0&;).W@\U]8>"OVR_@IXTDAM?\
MA)1X8OY(T(@\6V3Z- \CC.R/4UN;O1\@@@*VI!B<!=QS7X8\_P"?\]^/ISS2
M8XQT^G_ZA7M\$_3P\>N%JF'6=8W*N.,'[2D\7A>)<+2>-J4'-^UA1SO)YX"I
MA:\(-N%2GE>(4FHQE!)-R\KB/Z,_AOG<<1/+Z.8\,XF<7[&KE-2C/ TY/33*
M\3[>HHQM=)X]MMNTD?TUZ?J::C;1WEK/:W5I<*DMK<VK--;SP2<I+%,A:.5'
M4@K)&S(PY!(YK5!S^O3ZU_/I\&_VAOB!\%KP)H=TFJ^';BXCEU#PQJSO-I\V
M R2/8R<R:9<RJ_,]N!&TJI)<6]P0Q/[.?!OXZ>$OC-H#:MX<DEAOK'RX]<T.
M]\N/4-(NI?F6.8*=DT$H.^WO(AY,Z!\;98WB7_37P!^E-P+XYX=Y?A[\.<9X
M6G&6.X9QV*C7]M914Z^38Z<:$LRP\6U*K"="CB\/&3<Z56%.M7A_'GB?X,\2
M^&E9XRO)9QPW6DXX3/,+1E2Y>63C"GF6!3K3R^O+2$9>UK4,347[NI2G4IT)
M>X44R-]X)P!R!PP;JJMU'^]^(P>A%/K^G_Z_KR>Z>S335TTW^0)WU_KY]FMF
MGJFFFDTTBBBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** (W95(/\ %@8Z8&21
MG^?M7P%^V3^T5=^ K"W\ >"]4FM/%^L0FXU34+0I]HT/0I4>'9;SG>+74]2<
MDVTXC\^UM8VN%42/;D_87Q'\8:?X#\*^(O%NI%C;>'=$N]6>),[[A[9)6M[5
M<AD#75P([="P&))5)..#_.UXH\1ZKXP\1ZSXHUR[>[U;7-0NK^\D=BP5YY2Z
M11!F8QP01&.""(,52*)%X"J*_A;Z;?CQBO##A#"<&<+8JKA.+N.*6+D\=AJK
MIU\IX>P\U@LTQBE&494Z^/Q%5Y3@Y)J:7US$4&Y47*C_ $5]'7PTH<;<0XC/
M<YH1K</<-5*7[JI&,Z689Q4BZN%P=2G.,X5*6%C%8O$PE&4)-8>%6/)-PJ83
M,\LC32LSRNSO([L6:1W.7D=FW,[LV269BQ))8DFE)Q117^)+;DW)^_4G+FJ5
M)RESUJDI+FJUI^\W4G>]2I;FG).I-3J2J3G_ *.648J,;1C%1C"$(P4:<%R0
MC"G!*"4(J_)%NT4U"+C3C3A#N_"?PP^(7CJQN-3\'^$-;\0V%K<O9W-WIML)
M88;I(X)FMW=G0>:(KF&3:,Y2136-XH\)>)?!>I+H_BK1;_0M3:!+D66H0F"?
MR)'D2.7:3RDAB;8P)!&#WK]4?^"?(+?"KQ<O!'_"?76!MYS_ ,(]H15BP*$@
M9SR<]!C  'S%^WD#_P +HL-QW_\ %%Z*0>A ^V:F.<GD_*,G)S^)K^O>,/H\
M<,<._1EX1\;L+G>=UL_X@J9/3Q&58BCA?[*A_:&,SRC5E1E2B\7&'LLOPZI3
MES)-5)VE[1QI_@60>+F=9OXSY_X;5LLRVEE.5RS>&&QU&6,EF,WE^&HUJ3JP
MJJ.$?-*<N=1DKJT;QMS2^<O#7P=^*/C#2(->\,^!O$.M:-<M,EOJ-C9&:UF>
MWF>WG1) WS-#-&Z2 #Y2/I7$:SH^J>'M5OM#UNPNM,U?39A;W^GW<1BN;2;:
MK^5,I^4.%920K-@,/?'[8?L4)G]GSPJ<'G4_$^&!PH(UZ]R"#)GJ2<A#UY).
M17Y9?M-@+\>OB8%  ;Q%.Q[Y810ID$\@;54$=#@$Y-/Q<^CIPWX=^!GA=XIY
M?GF<8S-N.8</U,SR[&+!2R[!/-<@CF=>C@*F&H4:]5PQ,U&-6NDH4H\L8S;<
M@\/?%C/N+_$WC'@C'99E>'P/#M;,Z>%Q6#J8J6(JQP.<T<O3KO$J$)?NI5&W
M2IIRJVNHJ*C+PD=B..X^N<@Y]>_'3\J] ^&7Q(\1_"OQ=IGBSPU=2036,B1W
MMF'VVNJZ:T@:[TN]B/[N2"Y0@HS;6MYXXIT97B5AP _Q_G2%0P(/?^HQSZ\<
M'/:OY3R?.LVX=SK*\^R7'8C+\WR?'4L=E^8X6HZ&)PV)PS<L/+VE'V4ZE)SC
M&E6IS<H5:%2I"LITG.,OW#,LOP.;Y?B<KS/#PQF6YA1GA,7A:M.-6G.AB;TJ
MC]G.$K.*FIJ2M.E**JTY4ZD(U(?T7_";XEZ%\5/!VG>,M!E?['?F2*XM)BGV
MK3;^W"QW>GWB1NZK<6TH*GYCNB,<BDQLK'U!6#<BOQ>_8C^+I\%^/9O 6J/(
MVC>/)[5+*3ATL/$=LDJVTICR6$6IVQ>QF9%XNET\OE=X;]F[=PX;!! P>F/O
M9_GBO^A'Z-_C!1\:/"_)>)JO)3S[!QCDW%.%A;]QGF#HQ5:NH\TK4L?3A#,*
M+3]G*&+E[+]W32C_ )6^*W =;P[XTS/(5&3RR<GCLCQ#:FJ^5UJD_9QYTES5
M,+.2P]:_OJ5.#J7G5<I6**\"_:4_:?\ @3^R+\(?%OQV_:)^)?ASX6_##P5;
M--K7B3Q'=-$);EHI)+/1M$TR"*XU;Q)XCU5HW@T7PYH%EJ&LZQ<AH-/M)Y%<
M+_-[X?\ ^#Q?_@E%K7Q%C\$7FB_M4>&?#TNIQZ>OQ8UWX1>%'\!Q0O.(?[5N
M=,T'XH:Y\28M+56$\FWP%)J<<*_\@YI2T0_?#\X/ZOZ*\Y^$_P 7/AG\<_A[
MX2^*_P (/'/AKXC?#GQWH]MK_A'QGX2U6UUC0=?TFZ#^5=V%]:.\3[7CE@N8
M'\NYL[N&XL[R"WN[>>"/T:@ HHHH **** "BBB@ HHHH **** "BOY\_^"HG
M_!Q3^RI_P2E_:+T7]FOXX?!_]H;QWXNUWX7>'/BQ:ZY\*](^&NH>'(M#\3:_
MXO\ #MGIT\GBWXB^$]375;>[\&W\]TL>G26AMKNT\F[:43(G[&_LK?M!^&/V
ML/V</@C^TOX)TGQ#H7@[X[?#'P=\5/"^C^+(=+M_$NFZ%XUT6UUS3++78-%U
M#5M+BU6VM;N.*^2PU&\M!<*_D3O'M- 'O]%%% !15>ZN([:"2>658HXT9WD<
MA41(P6D=F;"*JJ&)9RJ@#+,!R/Y9_P!KC_@[B_X)I_LS?$[7OA3X)T;XT?M-
M:SX3UJ^T+Q+XJ^$6A>%[/X:VFH:5>26.IVNB^+_&?B70)_%K12Q2&RU+PWHF
MH>%=50)-8>*);26.Y8 _J@HK\E?^"9G_  6@_8J_X*K>'O$-U^SKXKU[P]\0
M?!QMI/%WP3^*FG:1X8^*^C:==(ZP^([;1=*U[Q%I/B3PJ;J/[)<^(/"^MZQ8
MZ1//86WB!]&OM1L;2X^%/VX?^#G?]CG]@S]LSXC_ +$OQ0^"7[37BKXC_#75
M?AYH^K>)? FB_"J[\$W=Q\1O /@OX@:5+8W>O?$[0-=:*ST[QOIUI?M-H$+)
M=VUZ+>"XC6"28 _I5HID3%XT=@0616(.,C<,X."1D9QP2/<]:?0 4444 %%%
M% !1110 4444 %%%% !1110!\"_M[^-H])^',7A"WN&2^U_4M"DNX4."=(CD
MUR]$DBA2[Q#4-%M]R X8J 1MSG\>?\_Y]^>_^-???_!0V]E/Q9\,Z:54P?\
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M2II68V,SE2#=Z662TG#'?Y<<5TV!<@G^@B2%)/O;NW1B/NMN''0\]<]:\/\
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M1:/J-W;6"75W=W*VD,J6ZW%S/,(Q)-(S>M44 9.BZ#H?AS2-,\/>'='TO0-
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M)S@,VXJ#C.,C@$G'08%244 %%%% !1110 4444 %%%% !1110 4444 %%%%
+!1110 4444 ?_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
