<SEC-DOCUMENT>0001213900-26-034092.txt : 20260325
<SEC-HEADER>0001213900-26-034092.hdr.sgml : 20260325
<ACCEPTANCE-DATETIME>20260325162439
ACCESSION NUMBER:		0001213900-26-034092
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20260325
FILED AS OF DATE:		20260325
DATE AS OF CHANGE:		20260325

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Turbo Energy, S.A.
		CENTRAL INDEX KEY:			0001963439
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				000000000
		STATE OF INCORPORATION:			U3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41813
		FILM NUMBER:		26792772

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		PLAZA AMERICA 2
		STREET 2:		4AB
		CITY:			VALENCIA
		NON US STATE TERRITORY:  	SELECT STATE/PROVINCE
		PROVINCE COUNTRY:   	U3
		ZIP:			46004
		BUSINESS PHONE:		34 960 450 026

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		PLAZA AMERICA 2
		STREET 2:		4AB
		CITY:			VALENCIA
		NON US STATE TERRITORY:  	SELECT STATE/PROVINCE
		PROVINCE COUNTRY:   	U3
		ZIP:			46004
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ea0282943-6k_turbo.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
<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 0pt 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16&nbsp;</B></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the month of March 2026</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Commission
File Number:&nbsp;<B><U>001-41813</U></B></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name
of Registrant)</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Plaza
de Am&eacute;rica 2, 4AB</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Valencia,
Spain 46004</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address
of Principal Executive Office)</FONT></P>

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

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

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

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Entry
into a Material Definitive Agreement.</I></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
March 25, 2026, Turbo Energy, S.A. (the &ldquo;Company&rdquo;) entered into a Sales Agreement (&ldquo;Sales Agreement&rdquo;) with A.G.P./Alliance
Global Partners (the &ldquo;Sales Agent&rdquo;), pursuant to which the Company may offer and sell, from time to time, its American Depositary
Shares (the &ldquo;ADSs&rdquo;), each ADS represents 5 ordinary shares, par value five cents of euro (&euro;0.05) per share, through
the Sales Agent in an &ldquo;at the market offering&rdquo; (the &ldquo;ATM Offering&rdquo;), as defined in Rule 415(a)(4) promulgated
under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), for an aggregate offering price of up to $2,979,570
(the &ldquo;Shares&rdquo;).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Shares are being offered and sold pursuant to the Company&rsquo;s registration statement on Form F-3 (File No. 333-291470) (the &ldquo;Registration
Statement&rdquo;) and the prospectus contained therein, declared effective by the Securities and Exchange Commission (the &ldquo;SEC&rdquo;)
on December 16, 2025 and the prospectus supplement dated March 25, 2026. The Sales Agent has agreed to use commercially reasonable efforts
consistent with its normal trading and sales practices to sell the Shares pursuant to the Sales Agreement from time to time, based upon
instructions from the Company, including any price or size limits or other customary parameters or conditions the Company may impose.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company is not obligated to sell any of the Shares under the Sales Agreement and may at any time suspend solicitation and offers thereunder.
The offering of Shares pursuant to the Sales Agreement will terminate on the earlier of (1)&nbsp;issuance and sale of all of the Shares
to or through the Sales Agent, on the terms and subject to the conditions set forth therein, (2) the expiration of the Registration Statement
on the third (3rd) anniversary of the initial effective date of the Registration Statement pursuant to Rule 415(a)(5) under the Securities
Act or (3)&nbsp;the termination of the Sales Agreement by either the Company or Sales Agent, as set forth therein.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has agreed to pay the Sales Agent a commission rate up to 3.0% of the gross sales price from each sale of Shares
pursuant to the Sales Agreement and has agreed to customary indemnification and contribution rights in favor of the Sales Agent.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Additionally, the Company has agreed to reimburse the Sales Agent for
certain specified expenses in connection with entering into the Sales Agreement. In the event settlement for sales of placement ADSs does
not occur on the settlement date, the Company agrees to cover any short sale borrowing costs or other costs that may occur. The Sales
Agreement contains customary representations and warranties and conditions to the sale of the Shares thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
foregoing description of the Sales Agreement is not complete and is qualified in its entirety by reference to the full text of such agreement,
a copy of which is filed herewith as&nbsp;Exhibit 10.1&nbsp;to this Report on Form 6-K and is incorporated herein by reference.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
copy of the opinion of Auren, the Spanish counsel to the Company, relating to the legality of the issuance and sale of the Shares under
the Sales Agreement is attached as Exhibit 5.1 to this Report on Form 6-K.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Report on Form 6-K shall not constitute an offer to sell or the solicitation of an offer to buy the Company&rsquo;s securities, nor shall
there be any offer, solicitation, or sale of the Company&rsquo;s securities in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws of any such state.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Report on Form 6-K is incorporated by reference into the prospectus contained in the Company&rsquo;s registration statement on Form F-3
(SEC File No. 333-291470) declared effective by the Securities and Exchange Commission on December 16, 2025.</FONT></P>

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

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

<!-- Field: Page; Sequence: 2; 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><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%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
    Number</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea028294301ex5-1.htm">Opinion of Auren</A></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: white">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea028294301ex10-1.htm">Sales Agreement dated March 25, 2026, between the Company and the Sales Agent</A></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea028294301ex5-1.htm">Consent of Auren (included as part of Exhibit 5.1)</A></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><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 0pt 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 3; 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><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%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TURBO
    ENERGY, S.A.</B></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:
    March 25, 2026</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 36%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/
    Mariano Soria</I></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mariano
    Soria</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<!-- Field: Page; Sequence: 4; Options: Last -->
    <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>
    <!-- Field: /Page -->

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





</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>ea028294301ex5-1.htm
<DESCRIPTION>OPINION OF AUREN
<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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><B>Exhibit 5.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><IMG SRC="ea028294301_ex5-1img1.jpg" ALT=""></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right">Ram&oacute;n J. Ruiz de la Torre Esporrin</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right">Avda. General Per&oacute;n, 38 4&ordf; Planta</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right">28020 &ndash; Madrid</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right">Tel&eacute;fono: +34912037400 / M&oacute;vil: +34
609288182</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0">March 25, 2026</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><B>Turbo Energy, S.A. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0">Plaza de Am&eacute;rica 2, 4AB &ndash; 46004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0">Valencia, Spain 46004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0">+34 961 196 250</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><I>&nbsp;</I></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: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><I>re:</I></TD><TD STYLE="text-align: justify"><I>Turbo Energy, S.A.- At the Market Offering</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 46.2pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">We act as Spanish law special counsel for Turbo
Energy S.A. (the &ldquo;<B>Company</B>&rdquo;), a corporation incorporated under the laws of the Kingdom of Spain (&ldquo;<B>Spain</B>&rdquo;),
in connection with an at the market offering by the Company of up to $2,979,570 of its American Depositary Shares (the &ldquo;<B>ADSs</B>&rdquo;),
with each ADS represents 5 ordinary shares, par value five cents of euro (&euro;0.05) per share (the &ldquo;<B>Ordinary Shares</B>&rdquo;,
and together with the ADSs, the &ldquo;<B>Securities</B>&rdquo;), as registered in the Company&rsquo;s registration statement on Form
F-3 (File No. 333-291470) (the &ldquo;<B>Registration Statement</B>&rdquo;) filed with the U.S. Securities and Exchange Commission (the
&ldquo;<B>Commission</B>&rdquo;) which became effective on December 16, 2025, and a prospectus supplement filed with the Commission on
or about the date hereof (the &ldquo;Prospectus Supplement) relating to the registration under the U.S. Securities Act of 1933, as amended,
(the &ldquo;<B>Securities Act</B>&rdquo;) of the ADSs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">For purposes of this opinion letter
(the <B>&ldquo;Opinion Letter&rdquo;), </B>we have reviewed the following documents (the <B>&ldquo;Relevant Documents&rdquo;),</B> which
are necessary for this opinion letter:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 49.65pt; text-align: justify; text-indent: -35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">A copy of the By-laws of the Company;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 49.65pt; text-align: justify; text-indent: -35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">A copy of the Certificate of Good Standing of the Company</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 49.65pt; text-align: justify; text-indent: -35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">Copies of minutes of the Board of Directors Meeting of the Company dated as of the following date:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Unanimous Written consent of the Board dated
as of 20/03/2026.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 85.05pt; text-align: justify; text-indent: -14.15pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: justify">Copies of Shareholders&rsquo;: Consent of the Company dated as of the following date:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Appropriation minute of the Shareholder&rsquo;s
resolutions dated as of 24/06/2025</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Revenant Documents (3) and (4) will be referred
together as the &ldquo;<B>Resolutions</B>&rdquo;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(5)</TD><TD STYLE="text-align: justify">A copy of the Sales Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 43.65pt; text-align: justify; text-indent: -35.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(6)</TD><TD STYLE="text-align: justify">A copy of the of the Stock Loan Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 43.9pt; text-align: justify; text-indent: -35.65pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(7)</TD><TD STYLE="text-align: justify">A copy of the Deposit Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 43.85pt; text-align: justify; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(8)</TD><TD STYLE="text-align: justify">Copies of the following documents:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">i.</FONT></TD><TD STYLE="text-align: justify">registration statements on Form F-3 (File No. 333-291470) and Prospectus Supplement and registration statement on Form F-6 (File No.
333-273204) (the &ldquo;<B>Registration Statements</B>&rdquo;)<B>.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt; text-indent: -36.4pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt; text-indent: -36.4pt"><B></B></P>

<!-- Field: Page; Sequence: 1; Options: NewSection; Value: 2 -->
    <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">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt; text-indent: -36.4pt"><B>&nbsp;</B></P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt; text-indent: -36.4pt"><IMG SRC="ea028294301_ex5-1img1.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 78pt; text-indent: -36.4pt">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">As to certain matters of fact material
to the opinions expressed herein, we have assumed that all of the following facts are true and accurate, and have not investigated nor
established these facts independently:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 88.5pt; text-indent: -35.2pt">&nbsp;</P>

<P STYLE="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-left: 0pt; margin-top: 0pt; margin-bottom: 0pt"> (a) All of the Relevant Documents provided to us as originals are true and complete;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 19pt; text-indent: 34.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: justify; margin-left: 0pt; margin-top: 0pt; margin-bottom: 0pt">(b) All
of the Relevant Documents provided to us as certified copies or copies are identical to their originals, and their originals are true
and complete;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 19pt; text-indent: 34.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: justify; margin-left: 0pt; margin-top: 0pt; margin-bottom: 0pt">(c) All
signatures or electronic signatures, or seal impressions on the originals of the Relevant Documents are true signatures or electronic
signatures, or seal impressions of the persons specified as the signatory in the said Relevant Documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 19pt; text-indent: 34.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: justify; margin-left: 0pt; margin-top: 0pt; margin-bottom: 0pt">(d) Each
person specified as the signatory in each of the Relevant Documents or a person duly authorized by the said signatory have respectively
signed or electronically signed, or affixed their sea! to the said Relevant Documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18.5pt; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: justify; margin-left: 0pt; margin-top: 0pt; margin-bottom: 0pt">(e) We
assumed that there are no agreements or understandings among the parties, written or oral, relating to the Relevant Documents except as
set forth in the Relevant Documents, and there is no usage of trade or course of prior dealing among the parties that would define, supplement
or qualify the terms of the Relevant Documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 16.85pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: justify; margin-left: 0pt; margin-top: 0pt; margin-bottom: 0pt">(f) We
made the prior view considering that certain aspects are to be fulfilled or complete at the relevant time, in particular; (i) the filing
of the Prospectus Supplement with the SEC by the Company, which has been obtained; (ii) the granting of the notarial deed of capital increase
relating to the Capital Increase before a notary public; (iii) the filling subject to but exempt of payment by the Company of the capital
tax (&ldquo;<I>Impuesto sobre Transmisiones Patrimoniales y Actos Jurldicos Documentados, en su modalidad de Operaciones Societarias</I>&rdquo;)
triggered by the Sales along with the filing of the necessary tax returns; (iv) the registration of the notarial deed of capital increase
of the Company at the Commercial Registry of Valencia; (v) the creation of the new Ordinary Shares by <I>the Sociedad de Gesti&oacute;n
de los Sistemas de Registro, Compensaci&oacute;n y Liquidaci&oacute;n de Valores (Iberclear)</I>; and (vi) the delivery of the new Ordinary
Shares to the Custodian of the transaction in Spain for the blocking of the new Ordinary Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 16.85pt; text-indent: 0.5in">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0">The opinions are subject to the following qualifications</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">A.</TD><TD STYLE="text-align: justify">The opinions in this Opinion Letter are strictly limited to the matters stated and must not be applied
to any other matters not explicitly referred to in this Opinion Letter by analogy or stretch.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">B.</TD><TD STYLE="text-align: justify">This opinion is subject to any limitations arising from Spanish principles of public order and by applicable
insolvency, liquidation, moratorium, reorganization and other laws of general application relating to or affecting the rights of creditors.</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in">C.</TD><TD STYLE="text-align: justify">Spanish legal concepts are described herein in English terms and not by their original terms. Such concepts
may not be exactly similar to the concepts described by the same English terms. This opinion may, therefore, only be relied upon on the
express condition that any issues (e.g. interpretation) arising thereunder will be governed by Spanish law and be brought before a Spanish
court.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">D.</TD><TD STYLE="text-align: justify">No opinion is expressed as to the economic or financial reasonableness of the transactions contemplated
by the documents and the offering.</TD></TR></TABLE>

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

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <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="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><IMG SRC="ea028294301_ex5-1img1.jpg" ALT=""></P>

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

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">On the basis of and subject to the foregoing,
we are of the opinion that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: justify; margin-left: 0pt; margin-top: 0pt; margin-bottom: 0pt"> (a) The Company is duly incorporated and existing under the laws of the Kingdom of Spain and, based on the Certificate of Good Standing, is in good standing as at the Certificate Date.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 16.85pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: justify; margin-left: 0pt; margin-top: 0pt; margin-bottom: 0pt"> (b) Based solely on our review of the By-laws and the Certificate of Good Standing of the Company and the Resolutions, the authorized share capital of the Company is 82,628,550 ordinary shares; and</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: justify; margin-left: 0pt; margin-top: 0pt; margin-bottom: 0pt"> (c) When issued and paid for as contemplated by the Sales Agreement, the Securities will be validly issued, fully paid and non-assessable (which term means when used herein that no further sums are required to be paid by the holders thereof in connection with the issue of such shares).</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">We hereby consent to the filing of this opinion
as an exhibit to the Company&rsquo;s report filing on Form 6-K with the Commission, which will be incorporated by reference into and deemed
part of the Registration Statement and to the references to our firm under the captions &ldquo;Enforcement of Civil Liabilities&rdquo;
and &ldquo;Legal Matters&rdquo; in the Prospectus forming a part of the Registration Statement. In giving this consent, we do not hereby
admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the Rules and Regulations
of the Commission promulgated thereunder.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">/s/ Auren
Legal SP SLP</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Auren Legal SP SLP</P>

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

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

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

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

<!-- Field: Rule-Page --><DIV STYLE="width: 100%"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>ea028294301ex10-1.htm
<DESCRIPTION>SALES AGREEMENT DATED MARCH 25, 2026, BETWEEN THE COMPANY AND THE SALES AGENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>TURBO
ENERGY, S.A.</B></FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Par Value Five Cents of Euro (&euro;0.05) per
Ordinary Share)</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">March 25, 2026</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">A.G.P./Alliance Global Partners</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">590 Madison Avenue, 28<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, NY 10022</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">Ladies and Gentlemen:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Turbo Energy, S.A., a company
incorporated under the laws of the Kingdom of Spain (the &ldquo;<B><U>Company</U></B>&rdquo;), confirms its agreement (this &ldquo;<B><U>Agreement</U></B>&rdquo;)
with A.G.P./Alliance Global Partners (the &ldquo;<B><U>Sales Agent</U></B>&rdquo;), as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1. <U>Issuance and Sale of
Shares</U>. The Company agrees that, from time to time during the term of this Agreement, on the terms and subject to the conditions set
forth herein, it may issue and sell to or through the Sales Agent, acting as agent or principal, the Company&rsquo;s American Depositary
Shares (&ldquo;<B><U>ADSs</U></B>&rdquo;), each representing five ordinary shares, par value &euro;0.05 per share (the &ldquo;<B><U>Ordinary
Shares</U></B>&rdquo;), subject to the limitations set forth in <U>Section 3(b)</U> hereof. The issuance and sale of ADSs to or through
the Sales Agent will be effected pursuant to the Registration Statement (as defined below) filed by the Company and which was declared
effective under the Securities Act (as defined below) by the U.S. Securities and Exchange Commission (the &ldquo;<B><U>Commission</U></B>&rdquo;).
The Company will deposit pursuant to the deposit agreement dated as of September 26, 2023, among the Company, Citibank, N.A., as depositary
(the &ldquo;<B><U>Depositary</U></B>&rdquo;), and all holders and beneficial owners from time to time of ADSs evidenced by American depositary
receipts issued thereunder (the &ldquo;<B><U>Deposit Agreement</U></B>&rdquo;), a number of Ordinary Shares equal to the product of the
number of Placement ADSs (as defined below) and 5. Upon deposit of such Ordinary Shares, the Depositary will issue ADSs representing the
Ordinary Shares so deposited.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company has filed, in
accordance with the provisions of the Securities Act of 1933, as amended, and the rules and regulations thereunder (collectively, the
&ldquo;<B><U>Securities Act</U></B>&rdquo;), with the Commission, a shelf registration statement on Form F-3 (File No. 333-291470), including
a base prospectus, relating to certain securities, including the Ordinary Shares in the form of ADSs, to be issued from time to time by
the Company, and which incorporates by reference documents that the Company has filed or will file in accordance with the provisions of
the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder (collectively, the &ldquo;<B><U>Exchange Act</U></B>&rdquo;).
The Company has prepared a prospectus supplement specifically relating to the offering of ADSs pursuant to this Agreement included as
part of such registration statement (the &ldquo;<B><U>ATM Prospectus</U></B>&rdquo;). The Company will furnish to the Sales Agent, for
use by the Sales Agent, copies of the ATM Prospectus included as part of such registration statement, relating to the Placement ADSs (as
defined below). Except where the context otherwise requires, such registration statement, as amended when it becomes effective, including
all documents filed as part thereof or incorporated by reference therein, and including any information contained in a Prospectus (as
defined below) subsequently filed with the Commission pursuant to Rule 424(b) under the Securities Act or deemed to be a part of such
registration statement pursuant to Rule 430B or 462(b) of the Securities Act, is herein called the &ldquo;<B>Registration Statement</B>.&rdquo;
The base prospectus, including all documents incorporated therein by reference (to the extent such information has not been superseded
or modified in accordance with Rule 412 under the Securities Act (as qualified by Rule 430B(g) of the Securities Act), and the ATM Prospectus,
including all documents incorporated therein by reference (to the extent such information has not been superseded or modified in accordance
with Rule 412 under the Securities Act (as qualified by Rule 430B(g) of the Securities Act), each of which is included in the Registration
Statement, as it or they may be supplemented by any additional prospectus supplement, in the form in which such prospectus and/or ATM
Prospectus have most recently been filed by the Company with the Commission pursuant to Rule 424(b) under the Securities Act, together
with any &ldquo;issuer free writing prospectus&rdquo; (&ldquo;<B><U>Issuer Free Writing Prospectus</U></B>&rdquo;), as defined in Rule
433 of the Securities Act (&ldquo;<B><U>Rule 433</U></B>&rdquo;), relating to the Placement ADSs (as defined below) that (i) is required
to be filed with the Commission by the Company or (ii) is exempt from filing pursuant to Rule 433(d)(5)(i), in each case in the form filed
or required to be filed with the Commission or, if not required to be filed, in the form retained in the Company&rsquo;s records pursuant
to Rule 433(g), is herein called the &ldquo;<B><U>Prospectus</U></B>.&rdquo; Any reference herein to the Registration Statement, the Prospectus
or any amendment or supplement thereto shall be deemed to refer to and include the documents incorporated by reference therein, and any
reference herein to the terms &ldquo;amend,&rdquo; &ldquo;amendment&rdquo; or &ldquo;supplement&rdquo; with respect to the Registration
Statement or the Prospectus shall be deemed to refer to and include the filing after the execution hereof of any document with the Commission
deemed to be incorporated by reference therein. For purposes of this Agreement, all references to the Registration Statement, the Prospectus
or to any amendment or supplement thereto shall be deemed to include any copy filed with the Commission pursuant to either the Electronic
Data Gathering Analysis and Retrieval System, or if applicable, the Interactive Data Electronic Applications (collectively &ldquo;<B><U>EDGAR</U></B>&rdquo;).</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2. <U>Placements</U>. Each
time that the Company wishes to issue and sell the Ordinary Shares in the form of ADSs through the Sales Agent, as agent, hereunder (each,
a &ldquo;<B><U>Placement</U></B>&rdquo;), it will notify the Sales Agent by email notice (or other method mutually agreed to in writing
by the parties) (a &ldquo;<B><U>Placement Notice</U></B>&rdquo;) containing the parameters in accordance with which it desires the ADSs
to be sold, which shall at a minimum include the number ADSs to be issued (the &ldquo;<B><U>Placement ADSs</U></B>&rdquo;), the time period
during which sales are requested to be made, any limitation on the number of ADSs that may be sold in any one Trading Day (as defined
in <U>Section 3</U>) and any minimum price below which sales may not be made, a form of which containing such minimum sales parameters
necessary is attached hereto as <B><U>Schedule 1</U></B>. The Placement Notice shall originate from any of the individuals from the Company
set forth on <B><U>Schedule 2</U></B> (with a copy to each of the other individuals from the Company listed on such schedule), and shall
be addressed to each of the individuals from the Sales Agent set forth on <B><U>Schedule 2</U></B>, as such <B><U>Schedule 2</U></B> may
be amended from time to time. The Placement Notice shall be effective upon receipt by the Sales Agent unless and until (i) in accordance
with the notice requirements set forth in <U>Section 4</U>, the Sales Agent declines to accept the terms contained therein for any reason,
in its sole discretion, (ii) the entire amount of the Placement ADSs have been sold, (iii) in accordance with the notice requirements
set forth in <U>Section 4</U>, the Company suspends or terminates the Placement Notice, (iv) the Company issues a subsequent Placement
Notice with parameters superseding those on the earlier dated Placement Notice, or (v) the Agreement has been terminated under the provisions
of <U>Section 11</U>. The amount of any discount, commission or other compensation to be paid by the Company to the Sales Agent in connection
with the sale of the Placement ADSs through the Sales Agent, as agent, shall be as set forth in <B><U>Schedule 3</U></B>. It is expressly
acknowledged and agreed that neither the Company nor the Sales Agent will have any obligation whatsoever with respect to a Placement or
any Placement ADSs unless and until the Company delivers a Placement Notice to the Sales Agent and the Sales Agent does not decline such
Placement Notice pursuant to the terms set forth above, and then only upon the terms specified therein and herein. In the event of a conflict
between the terms of this Agreement and the terms of a Placement Notice, the terms of the Placement Notice will control.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3. <U>Sale of Placement ADSs
by the Sales Agent</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) Subject to the terms and
conditions herein set forth, upon the Company&rsquo;s issuance of a Placement Notice, and unless the sale of the Placement ADSs described
therein has been declined, suspended, or otherwise terminated in accordance with the terms of this Agreement, the Sales Agent, as agent
for the Company, will use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable state
and federal laws, rules and regulations and the rules of The Nasdaq Capital Market (the &ldquo;<B><U>Exchange</U></B>&rdquo;), for the
period specified in the Placement Notice, to sell such Placement ADSs up to the amount specified by the Company in, and otherwise in accordance
with the terms of such Placement Notice. If acting as agent hereunder, the Sales Agent will provide written confirmation to the Company
(including by email correspondence to each of the individuals of the Company set forth on <B><U>Schedule 2</U></B>, if receipt of such
correspondence is actually acknowledged by any of the individuals to whom the notice is sent, other than via auto-reply) no later than
the opening of the Trading Day (as defined below) immediately following the Trading Day on which it has made sales of Placement ADSs hereunder
setting forth the number of Placement ADSs sold on such day, the volume-weighted average price of the Placement ADSs, the compensation
payable by the Company to the Sales Agent pursuant to <U>Section 2</U> with respect to such sales, and the Net Proceeds (as defined below)
payable to the Company, with an itemization of the deductions made by the Sales Agent (as set forth in <U>Section 5(a)</U>) from the gross
proceeds that it receives from such sales. Subject to the terms of the Placement Notice, the Sales Agent may sell Placement ADSs by any
method permitted by law deemed to be an &ldquo;at the market&rdquo; offering as defined in Rule 415 under the Securities Act, including,
without limitation, sales made directly on the Exchange, on any other existing trading market for the ADSs or to or through a market maker
and in privately negotiated transactions. The Company acknowledges and agrees that (i) there can be no assurance that the Sales Agent
will be successful in selling Placement ADSs, (ii) the Sales Agent will incur no liability or obligation to the Company or any other person
or entity if it does not sell Placement ADSs for any reason other than a failure by the Sales Agent to use its commercially reasonable
efforts consistent with its normal trading and sales practices and applicable law and regulations to sell such Placement ADSs as required
under this Agreement and (iii) the Sales Agent shall be under no obligation to purchase Placement ADSs on a principal basis pursuant to
this Agreement, except as otherwise agreed by the Sales Agent and the Company in writing and expressly set forth in a Placement Notice.
For the purposes hereof, &ldquo;<B><U>Trading Day</U></B>&rdquo; means any day on which the Company&rsquo;s ADSs are purchased and sold
on the principal market on which the ADSs are listed or quoted.</P>

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

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

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(b) Under no circumstances
shall the Company cause or request the offer or sale of any Placement ADSs if, after giving effect to the sale of such Placement ADSs
or Ordinary Shares represented by ADSs, as applicable, the aggregate number or gross sales proceeds of Placement ADSs sold pursuant to
this Agreement would exceed the lesser of: (i) the number or dollar amount of Ordinary Shares represented by ADSs registered pursuant
to the Registration Statement pursuant to which the offering hereunder is being made, (ii) the aggregate number of authorized but unissued
and unreserved ADSs or Ordinary Shares, (iii) the number or dollar amount of ADSs or Ordinary Shares permitted to be offered and sold
by the Company under Form F-3 (including General Instruction I.B.5. of Form F-3, if and for so long as applicable), (iv) the number or
dollar amount of ADSs or Ordinary Shares authorized from time to time to be issued and sold under this Agreement by the Company&rsquo;s
board of directors, a duly authorized committee thereof or a duly authorized executive committee, and notified to the Sales Agent in writing,
or (v) the number or dollar amount of ADSs or Ordinary Shares for which the Company has filed the ATM Prospectus or other prospectus supplement
specifically relating to the offering of the Placement ADSs pursuant to this Agreement. Under no circumstances shall the Company cause
or request the offer or sale of any Placement ADSs pursuant to this Agreement at a price lower than the minimum price authorized from
time to time by the Company&rsquo;s board of directors, a duly authorized committee thereof or a duly authorized executive committee,
and notified to the Sales Agent in writing. Notwithstanding anything to the contrary contained herein, the parties hereto acknowledge
and agree that compliance with the limitations set forth in this <U>Section 3(b)</U> on the number or dollar amount of Placement ADSs
that may be issued and sold under this Agreement from time to time shall be the sole responsibility of the Company, and that the Sales
Agent shall have no obligation in connection with such compliance.</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">(c) During the term of this
Agreement, neither the Sales Agent nor any of its affiliates or subsidiaries shall engage in (i) any short sale of any security of the
Company or (ii) any sale of any security of the Company that the Sales Agent does not own or any sale which is consummated by the delivery
of a security of the Company borrowed by, or for the account of, the Sales Agent. During the term of this Agreement and notwithstanding
anything to the contrary herein, the Sales Agent agrees that in no event will the Sales Agent or its affiliates engage in any market making,
bidding, stabilization or other trading activity with regard to the ADSs, Ordinary Shares or related derivative securities if such activity
would be prohibited under Regulation M or other anti-manipulation rules under the Exchange Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4. <U>Suspension of Sales</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) The Company or the Sales
Agent may, upon notice to the other party in writing (including by email correspondence to each of the individuals of the other party
set forth on <B><U>Schedule 2</U></B>, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the
notice is sent, other than via auto-reply) or by telephone (confirmed immediately by verifiable facsimile transmission or email correspondence
to each of the individuals of the other party set forth on <B><U>Schedule 2</U></B>), suspend any sale of Placement ADSs for a period
of time (a &ldquo;<B><U>Suspension Period</U></B>&rdquo;); <I>provided</I>, <I>however</I>, that such suspension shall not affect or impair
either party&rsquo;s obligations with respect to any Placement ADSs sold hereunder prior to the receipt of such notice. Each of the parties
agrees that no such notice under this <U>Section 4</U> shall be effective against the other unless it is made to one of the individuals
named on <B><U>Schedule 2</U></B> hereto, as such schedule may be amended from time to time. During a Suspension Period, the Company shall
not issue any Placement Notices and the Sales Agent shall not sell any Placement ADSs hereunder. The party that issued a suspension notice
shall notify the other party in writing of the Trading Day on which the Suspension Period shall expire not later than twenty-four (24)
hours prior to such Trading Day.</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">(b) Notwithstanding any other
provision of this Agreement, during any period in which the Company is in possession of material non-public information, the Company and
the Sales Agent agree that (i) no sale of Placement ADSs will take place, (ii) the Company shall not request the sale of any Placement
ADSs, and (iii) the Sales Agent shall not be obligated to sell or offer to sell any Placement ADSs.</P>

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

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

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5. <U>Settlement</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) <U>Settlement of Placement ADSs</U>. Unless otherwise specified
in the applicable Placement Notice, settlement for sales of Placement ADSs will occur on the first (1<SUP>st</SUP> ) Trading Day (or such
earlier day as is industry practice for regular-way trading) following the respective Point of Sale (as defined below) (each, a &ldquo;<B><U>Settlement
Date</U></B>&rdquo;). The amount of proceeds to be delivered to the Company on a Settlement Date against receipt of the Placement ADSs
sold (the &ldquo;<B><U>Net Proceeds</U></B>&rdquo;) will be equal to the aggregate sales price received by the Sales Agent at which such
Placement ADSs were sold, after deduction for (i) the Sales Agent&rsquo;s discount, commission or other compensation for such sales payable
by the Company pursuant to <U>Section 2</U> hereof, and (ii) any transaction fees, trading expenses or execution fees imposed by any clearing
organization or any governmental or self-regulatory organization and any other fees or expenses incurred by the Sales Agent in respect
of such sales, including, but not limited to, up to $0.002 per Placement ADS. In the event settlement for sales of Placement ADSs does
not occur on the Settlement Date, the Company agrees to cover any short sale borrowing costs or other costs that may occur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></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">(b) <U>Delivery of Placement
ADSs</U>. On or before each Settlement Date, the Company will, or will cause its share register, to, issue and register in the name of
the Depositary the amount of Ordinary Shares to be represented by the Placement ADSs and deliver those Ordinary Shares to the Depositary&rsquo;s
custodian under the Deposit Agreement, and instruct the Depositary to deliver the Placement ADSs issuable in respect of that deposit by
crediting the Sales Agent&rsquo;s or its designee&rsquo;s account (provided the Sales Agent shall have given the Company written notice
of such designee prior to the Settlement Date) at The Depository Trust Company through its Deposit and Withdrawal at Custodian System
or by such other means of delivery as may be mutually agreed upon by the parties hereto which in all cases shall be freely tradable, transferable,
registered ADSs in good deliverable form. In order to comply with the Delivery of Ordinary Shares, the Company may temporarily
enter into a stock loan agreement with its controlling shareholder for delivery of Ordinary Shares in T+1. According to Spanish mandatory
corporate law, the issuance of new Ordinary Shares of Turbo requires the granting of a notarial Deed of Capital Increase, registration
of the Deed of Capital Increase with the commercial registry of Valencia (Spain) the corporate domicile of the Company, the creation and
registration of the new Ordinary Shares in Iberclear (Sociedad de Gesti&oacute;n de los Sistemas de Registro, Compensaci&oacute;n y Liquidaci&oacute;n
de Valores) the Spanish Central Securities Depository and subsequent delivery to the Depositary for immobilization of such Ordinary Shares
and subsequent creation of the ADSs. On each Settlement Date, the Sales Agent will deliver the related Net Proceeds in same day funds
to an account designated by the Company on, or prior to, the Settlement Date. The Company agrees that if the Company, or its transfer
agent (if applicable), defaults in its obligation to issue and credit duly authorized Placement ADSs on a Settlement Date, or such other
time as mutually agreed upon, through no fault of the Sales Agent, the Company agrees that in addition to and in no way limiting the rights
and obligations set forth in <U>Section 9(a)</U> (Indemnification and Contribution) hereto, the Company will (i) hold the Sales Agent,
its directors, officers, members, partners, employees and agents of the Sales Agent, each broker dealer affiliate of the Sales Agent,
and each person, if any, who (A) controls the Sales Agent within the meaning of Section 15 of the Securities Act or Section 20 of the
Exchange Act or (B) is controlled by or is under common control with the Sales Agent (each, a &ldquo;<B><U>Sales Agent Affiliate</U></B>&rdquo;),
and the Sales Agent&rsquo;s clearing organization, harmless against any loss, claim, damage, or reasonable and documented expense (including
reasonable legal fees and expenses), as incurred, arising out of or in connection with such default by the Company or its transfer agent
(if applicable) and (ii) pay to the Sales Agent any commission, discount, or other compensation to which it would otherwise have been
entitled absent such default.</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">6. <U>Representations and
Warranties of the Company</U>. The Company represents and warrants to, and agrees with, the Sales Agent that as of each Applicable Time
(as defined in <U>Section 22(a)</U>), unless such representation, warranty or agreement specifies a different time or times:</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">(a) <U>Compliance with Registration
Requirements</U>. As of each Applicable Time other than the date of this Agreement, the Registration Statement and any Rule 462(b) Registration
Statement have been declared effective by the Commission under the Securities Act. The Company has complied to the Commission&rsquo;s
satisfaction with all requests of the Commission for additional or supplemental information related to the Registration Statement and
the Prospectus. No stop order suspending the effectiveness of the Registration Statement or any Rule 462(b) Registration Statement is
in effect and no proceedings for such purpose have been instituted or are pending or, to the knowledge of the Company, are contemplated
or threatened by the Commission. The Registration Statement and, assuming no act or omission on the part of the Sales Agent that would
make such statements untrue, the offer and sale of the Placement ADSs as contemplated hereby meet the requirements of Rule 415 under the
Securities Act and comply in all material respects with said Rule. In the section entitled &ldquo;Plan of Distribution&rdquo; in the ATM
Prospectus, the Company has named A.G.P./Alliance Global Partners as an agent that the Company has engaged in connection with the transactions
contemplated by this Agreement. The Company was not and is not an &ldquo;ineligible issuer&rdquo; as defined in Rule 405 under the Securities
Act.</P>

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

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

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(b) <U>No Misstatement or
Omission</U>. The Registration Statement and any post-effective amendment thereto, at the time it became or becomes effective, complied
or will comply in all material respects with the Securities Act. The Prospectus, and any amendment or supplement thereto, on the date
of such Prospectus or amendment or supplement, complied or will comply in all material respects with the Securities Act. The Registration
Statement and any post-effective amendment thereto, at the time it became or becomes effective, did not and will not contain any untrue
statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein
not misleading. The Prospectus, as amended or supplemented, as of its date, did not and, as of each Point of Sale and each Settlement
Date, will not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading. The representations and warranties set forth in
the two immediately preceding sentences do not apply to statements in or omissions from the Registration Statement or any post-effective
amendment thereto, or the Prospectus, or any amendments or supplements thereto, made in reliance upon and in conformity with information
relating to the Sales Agent furnished to the Company in writing by the Sales Agent expressly for use therein. &ldquo;<B><U>Point of Sale</U></B>&rdquo;
means, for a Placement, the time at which an acquiror of Placement ADSs entered into a contract, binding upon such acquiror, to acquire
such Placement ADSs.</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">(c) <U>Offering Materials
Furnished to the Sales Agent</U>. Copies of the Registration Statement, the Prospectus, and all amendments or supplements thereto and
all documents incorporated by reference therein that were filed with the Commission on or prior to the date of this Agreement, have been
delivered, or are publicly available through EDGAR, to the Sales Agent. Each Prospectus delivered to the Sales Agent for use in connection
with the sale of the Placement ADSs pursuant to this Agreement will be identical to the version of such Prospectus filed with the Commission
via EDGAR, except to the extent permitted by Regulation S-T.</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">(d) <U>Distribution of Offering
Material By the Company</U>. The Company has not distributed and will not distribute, prior to the completion of the Sales Agent&rsquo;s
sale of the Placement ADSs, any offering material in connection with the offering and sale of the Placement ADSs other than the Prospectus
or the Registration Statement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e) <U>The Sales Agreement</U>.
This Agreement has been duly authorized, executed and delivered by the Company, and constitutes a valid, legal, and binding obligation
of the Company, enforceable against the Company in accordance with its terms, except as rights to indemnity hereunder may be limited by
federal or state securities laws and except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium
or similar laws affecting the rights of creditors generally, and subject to general principles of equity. The Company has full corporate
power and authority to enter into this Agreement and to authorize, issue and sell the Placement ADSs as contemplated by this Agreement.
This Agreement conforms in all material respects to the descriptions thereof in the Registration Statement and the Prospectus.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f) <U>Authorization of the
Placement ADSs</U>. The Placement ADSs, when issued and paid for as contemplated herein, will be validly issued, fully paid and nonassessable,
will be issued in compliance with all applicable securities laws, and will be free of preemptive, registration or similar rights, and
will conform to the description of the Ordinary Shares contained in the Registration Statement and the Prospectus.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g) <U>No Applicable Registration
or Other Similar Rights</U>. There are no persons with registration or other similar rights to have any equity or debt securities registered
for sale under the Registration Statement or included in the offering contemplated by this Agreement, except for such rights as have been
duly waived. No person has the right to act as an underwriter or as a financial advisor to the Company in connection with the offer and
sale of the Placement ADSs hereunder, whether as a result of the filing or effectiveness of the Registration Statement or the sale of
the Placement ADSs as contemplated hereby or otherwise.</P>

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

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

<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(h) <U>No Material Adverse
Change</U>. Except as otherwise disclosed in the Prospectus, subsequent to the respective dates as of which information is given in the
Prospectus: (i) there has been no material adverse change in the business, properties, prospects, operations, condition (financial or
otherwise) or results of operations of the Company (any such change is called a &ldquo;<B><U>Material Adverse Change</U></B>&rdquo;),
which, individually or in the aggregate, has had or would reasonably be expected to result in a Material Adverse Change; (ii) the Company
has not incurred any material liability or obligation, indirect, direct or contingent, not in the ordinary course of business nor entered
into any material transaction or agreement not in the ordinary course of business; (iii) there has been no dividend or distribution of
any kind declared, paid or made by the Company; (iv) no officer or director of the Company has resigned from any position with the Company;
and (v) there has not been any Material Adverse Change in the Company&rsquo;s long-term debt.</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">(i) <U>Independent Accountants</U>.
To the knowledge of the Company, TAAD LLP, whose report is filed with the Commission and included or incorporated by reference in the
Registration Statement and the Prospectus, is an independent registered public accounting firm as required by the Securities Act and the
Public Company Accounting Oversight Board.</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">(j) <U>Financial Statements</U>.
The financial statements filed with the Commission as a part of the Registration Statement and included in the Prospectus, together with
the related notes and schedules, present fairly, in all material respects, the consolidated financial position of the Company and its
subsidiaries as of and at the dates indicated and the results of their operations and cash flows for the periods specified. Such financial
statements and supporting schedules have been prepared in conformity with International Financial Reporting Standards (&ldquo;<B>IFRS</B>&rdquo;)
applied on a consistent basis throughout the periods involved, except as may be expressly stated in the related notes thereto. No other
financial statements or supporting schedules are required to be included in or incorporated in the Registration Statement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(k) <U>Forward-Looking Statements.
</U>No forward-looking statement (within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act) contained
in the Registration Statement or the Prospectus has been made or reaffirmed by the Company without a reasonable basis or has been disclosed
by the Company other than in good faith.</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">(l) <U>Statistical and Marketing-Related
Data</U>. The statistical and market-related data included in each of the Registration Statement and the Prospectus are based on or derived
from sources that the Company reasonably and in good faith believes are reliable and accurate or represent the Company&rsquo;s good faith
estimates that are made on the basis of data derived from such sources.</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">(m) <U>XBRL</U>. The interactive
data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement fairly presents the
information called for in all material respects and has been prepared in accordance with the Commission&rsquo;s rules and guidelines applicable
thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-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">(n) <U>Incorporation and Good
Standing of the Company</U>. The Company is duly incorporated and validly existing under the laws of the Kingdom of Spain. The Company
has requisite corporate power to carry on its business as described in the Prospectus. The Company is duly qualified to transact business
and is in good standing in all jurisdictions in which the conduct of its business requires such qualification; except where the failure
to be so qualified or to be in good standing would not result in a Material Adverse Change. The Company does not own or control, directly
or indirectly, any corporation, association or other entity other than the subsidiaries listed in <B><U>Schedule 4</U></B> hereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(o) <U>Capital Stock Matters</U>.
All issued and outstanding securities of the Company issued prior to the transactions contemplated by this Agreement have been duly authorized
and validly issued and are fully paid and non-assessable; the holders thereof have no rights of rescission with respect thereto, and are
not subject to personal liability by reason of being such holders; and none of such securities were issued in violation of the preemptive
rights of any holders of any security of the Company or similar contractual rights granted by the Company. The authorized ADSs or Ordinary
Shares conform in all material respects to all statements relating thereto contained in the Registration Statement and the Prospectus.
The offers and sales of the outstanding ADSs or Ordinary Shares were at all relevant times either registered under the Securities Act
and the applicable state securities or &ldquo;blue sky&rdquo; laws or, based in part on the representations and warranties of the purchasers
of such shares, exempt from such registration requirements. The description of the Company&rsquo;s stock option, stock bonus and other
stock plans or arrangements, and the options or other rights granted thereunder, as described in the Registration Statement and the Prospectus,
accurately and fairly present, in all material respects, the information required to be shown with respect to such plans, arrangements,
options and rights.</P>

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

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

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(p) <U>Non-Contravention of
Existing Instruments; No Further Authorizations or Approvals Required</U>. The Company&rsquo;s execution, delivery and performance of
this Agreement and consummation of the transactions contemplated hereby or by the Registration Statement and the Prospectus (including
the issuance and sale of the Placement ADSs and the use of the proceeds from the sale of the Placement ADSs as described in the Prospectus
under the caption &ldquo;Use of Proceeds&rdquo;) will not (A) result in a material violation of any existing applicable law, rule, regulation,
judgment, order or decree of any Governmental Entity as of the date hereof, (B) conflict with, result in any violation or breach of, or
constitute a default (or an event that with notice or lapse of time or both would become a default) under, or give to others any right
of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) (a &ldquo;<B><U>Default Acceleration
Event</U></B>&rdquo;) of, any agreement, lease, credit facility, debt, note, bond, mortgage, indenture or other instrument (&ldquo;<B><U>Contract</U></B>&rdquo;)
or obligation or other understanding to which the Company is a party or by which any property or asset of the Company is bound or affected,
except as disclosed in the Registration Statement and the Prospectus or to the extent that such conflict, default, or Default Acceleration
Event is not reasonably likely to result in a Material Adverse Change, or (C) result in a breach or violation of any of the terms and
provisions of, or constitute a default under, the Company&rsquo;s certificate of incorporation and bylaws, as amended (as the same may
be amended or restated from time to time) or other equivalent organizational or governing documents. The Company is not in violation,
breach or default under its certificate of incorporation and bylaws, as amended (as the same may be amended or restated from time to time)
or other equivalent organizational or governing documents. Neither the Company nor, to its knowledge, any other party is in violation,
breach or default of any Contract that has resulted in or could reasonably be expected to result in a Material Adverse Change. Each approval,
consent, order, authorization, designation, declaration or filing by or with any regulatory, administrative or other governmental body
necessary in connection with the execution and delivery by the Company of this Agreement and the performance of the Company of the transactions
herein contemplated has been obtained or made and is in full force and effect, except (i) with respect to any Applicable Time at which
the Sales Agent would not be able to rely on Rule 5110(b)(7)(C)(i) of the Financial Industry Regulatory Authority, Inc. (&ldquo;<B><U>FINRA</U></B>&rdquo;),
such additional steps as may be required by FINRA, (ii) filings with the Commission required under the Securities Act or the Exchange
Act, or filings with the Exchange pursuant to the rules and regulations of the Exchange, in each case that are contemplated by this Agreement
to be made after the date of this Agreement, (iii) such additional steps as may be necessary to qualify the Ordinary Shares for sale by
the Sales Agent under state securities or Blue Sky laws and (iv) upon sending one or more Placement Notice, the Company may have to renew
the present authorization of the Shareholders of the Company allowing to issue up to 50% of its current share capital (and up to 20% without
preemption rights) or adopt new Shareholders resolutions to be call upon in order to be in a position to of increasing capital of the
Company for attending the total or partial issuance or Ordinary Shares to be placed under the present Agreement. This undertaking depends
upon the future amount of ADSs to be issued.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(q) <U>No Material Actions
or Proceedings</U>. There is no action, suit, proceeding, inquiry, arbitration, investigation, litigation or governmental proceeding pending
or, to the Company&rsquo;s knowledge, threatened against, or involving the Company or, to the Company&rsquo;s knowledge, any executive
officer or director, which has not been disclosed in the Registration Statement and the Prospectus which is required to be disclosed,
except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Change.</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">(r) <U>Labor Disputes</U>.
No labor dispute with the employees of the Company exists or, to the knowledge of the Company, is imminent. The Company is not aware that
any key employee or significant group of employees of the Company plans to terminate employment with the Company.</P>

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

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

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(s) <U>Compliance with Applicable
Laws</U>. The Company: (A) is and at all times has been in compliance with all statutes, rules and regulations applicable to the ownership,
testing, development, manufacture, packaging, processing, use, distribution, marketing, labeling, promotion, sale, offer for sale, storage,
import, export or disposal of any product under development, manufactured or distributed by the Company (&ldquo;<B><U>Applicable Laws</U></B>&rdquo;),
(B) have not received any written correspondence or notice from any other federal, state, local or foreign governmental or regulatory
authority alleging or asserting material noncompliance with any Applicable Laws or any licenses, certificates, approvals, clearances,
authorizations, permits and supplements or amendments thereto required by any such Applicable Laws (&ldquo;<B><U>Authorizations</U></B>&rdquo;);
(C) possess all material Authorizations and such Authorizations are valid and in full force and effect and neither the Company nor the
Subsidiaries is in material violation of any term of any such Authorizations; (D) have not received written notice of any claim, action,
suit, proceeding, hearing, enforcement, investigation, arbitration or other action from any federal, state, local or foreign governmental
or regulatory authority or third party alleging that any Company product, operation or activity is in material violation of any Applicable
Laws or Authorizations and has no knowledge that any federal, state, local or foreign governmental or regulatory authority or third party
is considering any such claim, litigation, arbitration, action, suit, investigation or proceeding against the Company; (E) have not received
written notice that any federal, state, local or foreign governmental or regulatory authority has taken, is taking or intends to take
action to limit, suspend, modify or revoke any material Authorizations and has no knowledge that any federal, state, local or foreign
governmental or regulatory authority is considering such action; and (F) have filed, obtained, maintained or submitted all reports, documents,
forms, notices, applications, records, claims, submissions and supplements or amendments as required by any Applicable Laws or Authorizations,
and that all such reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments were complete
and correct on the date filed (or were corrected or supplemented by a subsequent submission).</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">(t) <U>Reserved. </U></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(v) <U>Tax Law Compliance</U>.
The Company has filed all returns (as hereinafter defined) required to be filed with taxing authorities prior to the date hereof or has
duly obtained extensions of time for the filing thereof. The Company has paid all taxes (as hereinafter defined) shown as due on such
returns that were filed and has paid all taxes imposed on or assessed against the Company. The provisions for taxes payable, if any, shown
on the financial statements filed with or as part of or incorporated by reference in the Registration Statement are sufficient for all
accrued and unpaid taxes, whether or not disputed, and for all periods to and including the dates of such consolidated financial statements.
Other than as disclosed in the Registration Statement and the Prospectus, (i) no issues have been raised (and are currently pending) by
any taxing authority in connection with any of the returns or taxes asserted as due from the Company, and (ii) no waivers of statutes
of limitation with respect to the returns or collection of taxes have been given by or requested from the Company. There are no tax liens
against the assets, properties or business of the Company. The term &ldquo;<B><U>taxes</U></B>&rdquo; means all federal, state, local,
foreign and other net income, gross income, gross receipts, sales, use, ad valorem, transfer, franchise, profits, license, lease, service,
service use, withholding, payroll, employment, excise, severance, stamp, occupation, premium, property, windfall profits, customs, duties
or other taxes, fees, assessments or charges of any kind whatever, together with any interest and any penalties, additions to tax or additional
amounts with respect thereto. The term &ldquo;<B><U>returns</U></B>&rdquo; means all returns, declarations, reports, statements and other
documents required to be filed in respect to taxes.</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">(w) <U>Company Not an &ldquo;Investment
Company</U>&rdquo;. The Company is not, and will not be, either after receipt of payment for the Placement ADSs or after the application
of the proceeds therefrom as described under &ldquo;Use of Proceeds&rdquo; in the Registration Statement or the Prospectus, required to
register as an &ldquo;investment company&rdquo; under the Investment Company Act of 1940, as amended (the <B>&ldquo;<U>Investment Company
Act</U></B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(x) <U>Insurance</U>. The
Company carries or is entitled to the benefits of insurance, with reputable insurers, in such amounts and covering such risks which the
Company believes are adequate, and all such insurance is in full force and effect. The Company has no reason to believe that it will not
be able (i) to renew its existing insurance coverage as and when such policies expire or (ii) to obtain comparable coverage from similar
institutions as may be necessary or appropriate to conduct its business as now conducted and at a cost that would not result in a Material
Adverse Change.</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">(y) <U>No Price Stabilization
or Manipulation</U>. The Company has not taken, directly or indirectly (without giving any effect to the activities of the Sales Agent),
any action designed to or that might cause or result in stabilization or manipulation of the price of the Ordinary Shares or of any &ldquo;reference
security&rdquo; (as defined in Rule 100 of Regulation M under the Exchange Act (&ldquo;<B><U>Regulation M</U></B>&rdquo;)) with respect
to the Ordinary Shares, whether to facilitate the sale or resale of the Placement ADSs or otherwise, and has taken no action which would
directly or indirectly violate Regulation M.</P>

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

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

<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(z) <U>Related Party Transactions</U>.
There are no business relationships or related party transactions involving the Company or any other person required to be described in
the Registration Statement and the Prospectus that have not been described as required pursuant to the Securities Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(aa) <U>Exchange Act Compliance</U>.
The documents incorporated or deemed to be incorporated by reference in the Registration Statement, the Prospectus or any amendment or
supplement thereto, at the time they were or hereafter are filed with the Commission under the Exchange Act, complied and will comply
in all material respects with the requirements of the Exchange Act, and, when read together with the other information in the Prospectus,
at each Point of Sale and each Settlement Date, will not contain an untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the fact required to be stated therein or necessary to make the statements therein,
in the light of the circumstances under which they were made, not misleading.</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">(bb) <U>Conformity of Issuer
Free Writing Prospectus</U>. Each Issuer Free Writing Prospectus conformed or will conform in all material respects to the requirements
of the Securities Act on the date of first use, and the Company has complied or will comply with any filing requirements applicable to
such Issuer Free Writing Prospectus pursuant to the Securities Act. Each Issuer Free Writing Prospectus, as of its issue date and at all
subsequent times through the completion of the public offer and sale of the Placement ADSs, did not, does not and will not include any
information that conflicted, conflicts or will conflict with the information contained in the Registration Statement or the Prospectus,
including any document incorporated by reference therein that has not been superseded or modified. The Company has not made any offer
relating to the Placement ADSs that would constitute an Issuer Free Writing Prospectus without the prior written consent of the Sales
Agent. The Company has retained in accordance with the Securities Act all Issuer Free Writing Prospectuses that were not required to be
filed pursuant to the Securities Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(cc) <U>Compliance with Environmental
Laws</U>. The Company is in compliance with all foreign, federal, state and local rules, laws and regulations relating to the use, treatment,
storage and disposal of hazardous or toxic substances or waste and protection of health and safety or the environment which are applicable
to its business (&ldquo;<B><U>Environmental Laws</U></B>&rdquo;), except where the failure to comply would not, singularly or in the aggregate,
result in a Material Adverse Change. There has been no storage, generation, transportation, handling, treatment, disposal, discharge,
emission, or other release of any kind of toxic or other wastes or other hazardous substances by, due to, or caused by the Company (or,
to the Company&rsquo;s knowledge, any other entity for whose acts or omissions the Company is or may otherwise be liable) upon any of
the property now or previously owned or leased by the Company, or upon any other property, in violation of any law, statute, ordinance,
rule, regulation, order, judgment, decree or permit or which would, under any law, statute, ordinance, rule (including rule of common
law), regulation, order, judgment, decree or permit, give rise to any liability, except for any violation or liability which would not
have, singularly or in the aggregate with all such violations and liabilities, a Material Adverse Change; and there has been no disposal,
discharge, emission or other release of any kind onto such property or into the environment surrounding such property of any toxic or
other wastes or other hazardous substances with respect to which the Company has knowledge, except for any such disposal, discharge, emission,
or other release of any kind which would not have, singularly or in the aggregate with all such discharges and other releases, a Material
Adverse Change. In the ordinary course of business, the Company conducts periodic reviews of the effect of Environmental Laws on its business
and assets, in the course of which it identifies and evaluates associated costs and liabilities (including, without limitation, any capital
or operating expenditures required for clean-up, closure of properties or compliance with Environmental Laws or governmental permits issued
thereunder, any related constraints on operating activities and any potential liabilities to third parties). On the basis of such reviews,
the Company has reasonably concluded that such associated costs and liabilities would not have, singularly or in the aggregate, a Material
Adverse Change.</P>

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

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

<!-- Field: Page; Sequence: 9; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(dd) <U>Intellectual Property</U>.
The Company owns or possesses or has valid rights to use all patents, patent applications, trademarks, service marks, trade names, trademark
registrations, service mark registrations, copyrights, licenses, inventions, trade secrets and similar rights (&ldquo;<B><U>Intellectual
Property Rights</U></B>&rdquo;) necessary for the conduct of the business of the Company as currently carried on and as described in the
Registration Statement and the Prospectus, except as would not be reasonably likely to result in a Material Adverse Change. To the knowledge
of the Company, no action or use by the Company necessary for the conduct of its business as currently carried on and as described in
the Registration Statement and the Prospectus will involve or give rise to any infringement of, or license or similar fees for, any Intellectual
Property Rights of others, except where such action, use, license or fee is not reasonably likely to result in a Material Adverse Change.
The Company has not received any notice alleging any such infringement, fee or conflict with asserted Intellectual Property Rights of
others. Except as would not reasonably be expected to result, individually or in the aggregate, in a Material Adverse Change (A) to the
knowledge of the Company, there is no infringement, misappropriation or violation by third parties of any of the Intellectual Property
Rights owned by the Company; (B) there is no pending or, to the knowledge of the Company, threatened action, suit, proceeding or claim
by others challenging the rights of the Company in or to any such Intellectual Property Rights, and the Company is unaware of any facts
which would form a reasonable basis for any such claim, that would, individually or in the aggregate, together with any other claims in
this <U>Section 6(dd)</U>, reasonably be expected to result in a Material Adverse Change; (C) the Intellectual Property Rights owned by
the Company and, to the knowledge of the Company, the Intellectual Property Rights licensed to the Company have not been adjudged by a
court of competent jurisdiction invalid or unenforceable, in whole or in part, and there is no pending or, to the Company&rsquo;s knowledge,
threatened action, suit, proceeding or claim by others challenging the validity or scope of any such Intellectual Property Rights, and
the Company is unaware of any facts which would form a reasonable basis for any such claim that would, individually or in the aggregate,
together with any other claims in this <U>Section 6(dd)</U>, reasonably be expected to result in a Material Adverse Change; (D) there
is no pending or, to the Company&rsquo;s knowledge, threatened action, suit, proceeding or claim by others that the Company infringes,
misappropriates or otherwise violates any Intellectual Property Rights or other proprietary rights of others, the Company has not received
any written notice of such claim and the Company is unaware of any other facts which would form a reasonable basis for any such claim
that would, individually or in the aggregate, together with any other claims in this <U>Section 6(dd)</U>, reasonably be expected to result
in a Material Adverse Change; and (E) to the Company&rsquo;s knowledge, no employee of the Company is in or has ever been in violation
in any material respect of any term of any employment contract, patent disclosure agreement, invention assignment agreement, non-competition
agreement, non-solicitation agreement, nondisclosure agreement or any restrictive covenant to or with a former employer where the basis
of such violation relates to such employee&rsquo;s employment with the Company, or actions undertaken by the employee while employed with
the Company and could reasonably be expected to result, individually or in the aggregate, in a Material Adverse Change. To the Company&rsquo;s
knowledge, all material technical information developed by and belonging to the Company which has not been patented has been kept confidential.
The Company is not a party to or bound by any options, licenses or agreements with respect to the Intellectual Property Rights of any
other person or entity that are required to be set forth in the Registration Statement and the Prospectus and are not described therein.
The Registration Statement and the Prospectus contain in all material respects the same description of the matters set forth in the preceding
sentence. None of the technology employed by the Company has been obtained or is being used by the Company in violation of any contractual
obligation binding on the Company or, to the Company&rsquo;s knowledge, any of its officers, directors or employees, or otherwise in violation
of the rights of any persons.</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">(ee) <U>Brokers</U>. The Company
is not a party to any contract, agreement or understanding with any person (other than as contemplated by this Agreement) that would give
rise to a valid claim against the Company or the Sales Agent for a brokerage commission, finder&rsquo;s fee or like payment in connection
with the offering and sale of the Placement ADSs by the Sales Agent under this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ff) <U>No Outstanding Loans
or Other Indebtedness</U>. There are no outstanding loans, advances (except normal advances for business expenses in the ordinary course
of business) or guarantees or indebtedness by the Company to or for the benefit of any of the officers or directors of the Company, or
any of their respective family members, except as disclosed in the Registration Statement and the Prospectus.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(gg) <U>No Reliance</U>. The
Company has not relied upon the Sales Agent or legal counsel for the Sales Agent for any legal, tax or accounting advice in connection
with the offering and sale of the Placement ADSs.</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">(hh) <U>Broker-Dealer Status</U>.
Neither the Company nor any of its related entities (i) is required to register as a &ldquo;broker&rdquo; or &ldquo;dealer&rdquo; in accordance
with the provisions of the Exchange Act or (ii) directly or indirectly through one or more intermediaries, controls or is a &ldquo;person
associated with a member&rdquo; or &ldquo;associated person of a member&rdquo; (within the meaning of Article I of the NASD Manual administered
by FINRA). To the Company&rsquo;s knowledge, there are no affiliations or associations between any member of FINRA and any of the Company&rsquo;s
officers, directors or 5% or greater security holders, except as set forth in the Registration Statement.</P>

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

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

<!-- Field: Page; Sequence: 10; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(ii) <U>Public Float Calculation</U>.
At the time the Registration Statement and any Rule 462(b) Registration Statement was or will be filed with the Commission, at the time
the Registration Statement and any Rule 462(b) Registration Statement was or will be declared effective by the Commission, and at the
time the Company&rsquo;s most recent Annual Report on Form 20-F was filed with the Commission, the Company met or will meet the then applicable
requirements for the use of Form F-3 under the Securities Act. As of the close of trading on the Exchange on March 24, 2026, the aggregate
market value of the outstanding voting and non-voting common equity (as defined in Rule 405) of the Company held by persons other than
affiliates of the Company (pursuant to Rule 144 of the Securities Act, those that directly, or indirectly through one or more intermediaries,
control, or are controlled by, or are under common control with, the Company) (the &ldquo;<B><U>Non-Affiliate Shares</U></B>&rdquo;),
was approximately $18.69 million (calculated by multiplying (x) the price at which the common equity of the Company was last sold on the
Exchange on March 9, 2026 by (y) the number of Non-Affiliate Shares outstanding on March 24, 2026). The Company is not a shell company
(as defined in Rule 405) and has not been a shell company for at least 12 calendar months previously and if it has been a shell company
at any time previously, has filed current Form 10 information (as defined in Instruction I.B.5. of Form F-3) with the Commission at least
12 calendar months previously reflecting its status as an entity that is not a shell company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(jj) <U>FINRA Matters</U>.
All of the information provided to the Sales Agent or to counsel for the Sales Agent by the Company, its counsel, its officers and directors
and, to the Company&rsquo;s knowledge, the holders of any securities (debt or equity) or options to acquire any securities of the Company
in connection with the offering of the Placement ADSs is true, complete, correct and compliant with FINRA&rsquo;s rules in all material
respects and any letters, filings or other supplemental information provided to FINRA pursuant to FINRA Rules or NASD Conduct Rules is
true, complete and correct in all material respects. Except as disclosed in the Registration Statement and the Prospectus, there is no
(i) officer or director of the Company, (ii) beneficial owner of 5% or more of any class of the Company&rsquo;s securities or (iii) beneficial
owner of the Company&rsquo;s unregistered equity securities that were acquired during the 180-day period immediately preceding the date
of this Agreement that is an affiliate or associated person of a FINRA member participating in the offer, issuance and sale of the Placement
ADSs as contemplated by this Agreement and the Registration Statement and the Prospectus (as determined in accordance with the rules and
regulations of FINRA).</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">(kk) <U>Compliance with Orders</U>.
The Company is not in violation of any material judgment, decree, or order of any court, arbitrator or other governmental authority.</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">(ll) <U>Sarbanes&ndash;Oxley
Act</U>. The Company is in material compliance with any and all applicable requirements of the Sarbanes-Oxley Act of 2002 and the rules
and regulations promulgated in connection therewith (the &ldquo;<B><U>Sarbanes-Oxley Act</U></B>&rdquo;) that are effective as of the
date hereof, and any and all applicable rules and regulations promulgated by the Commission thereunder that are effective as of the date
hereof and as of the date hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(mm) <U>Disclosure Controls
And Procedures</U>. Except as set forth in the Registration Statement and the Prospectus, the Company maintains systems of &ldquo;internal
control over financial reporting&rdquo; (as defined under Rules 13a-15 and 15d-15 under the Exchange Act) that comply with the requirements
of the Exchange Act and have been designed by, or under the supervision of, their respective principal executive and principal financial
officers, or persons performing similar functions, to provide reasonable assurance regarding the reliability of financial reporting and
the preparation of financial statements for external purposes in accordance with IFRS, including, but not limited to, internal accounting
controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management&rsquo;s general or
specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with
IFRS and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management&rsquo;s general or specific
authorization; (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate
action is taken with respect to any differences; and (v) the interactive data in eXtensible Business Reporting Language included or incorporated
by references in the Registration Statement and the Prospectus fairly present the information called for in all material respects and
are prepared in accordance with the Commission&rsquo;s rules and guidelines applicable thereto. Since the date of the latest audited financial
statements included in the Registration Statement and the Prospectus, there has been no change in the Company&rsquo;s internal control
over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company&rsquo;s internal control
over financial reporting.</P>

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

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

<!-- Field: Page; Sequence: 11; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(nn) <U>ERISA</U>. The Company
and any &ldquo;employee benefit plan&rdquo; (as defined under the Employee Retirement Income Security Act of 1974, as amended, and the
regulations and published interpretations thereunder (collectively, &ldquo;<B><U>ERISA</U></B>&rdquo;)) established or maintained by the
Company or its &ldquo;ERISA Affiliates&rdquo; (as defined below) are in compliance in all material respects with ERISA. No &ldquo;reportable
event&rdquo; (as defined under ERISA) has occurred or is reasonably expected to occur with respect to any &ldquo;employee benefit plan&rdquo;
established or maintained by the Company or any of its ERISA Affiliates. No &ldquo;employee benefit plan&rdquo; established or maintained
by the Company or any of its ERISA Affiliates, if such &ldquo;employee benefit plan&rdquo; were terminated, would have any &ldquo;amount
of unfunded benefit liabilities&rdquo; (as defined under ERISA). Neither the Company nor any of its ERISA Affiliates has incurred or reasonably
expects to incur any material liability under (i) Title IV of ERISA with respect to termination of, or withdrawal from, any &ldquo;employee
benefit plan&rdquo; or (ii) Sections 412, 4971, 4975 or 4980B of the Code. Each &ldquo;employee benefit plan&rdquo; established or maintained
by the Company or any of its ERISA Affiliates that is intended to be qualified under Section 401(a) of the Code is so qualified and, to
the knowledge of the Company, nothing has occurred, whether by action or failure to act, which would cause the loss of such qualification.
&ldquo;<B><U>ERISA Affiliate</U></B>&rdquo; means, with respect to the Company, any member of any group of organizations described in
Sections 414(b),(c),(m) or (o) of the Internal Revenue Code of 1986, as amended, and the regulations and published interpretations thereunder
(the &ldquo;<B><U>Code</U></B>&rdquo;) of which the Company is a member.</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">(oo) <U>Contracts and Agreements</U>.
The agreements and documents described in the Registration Statement and the Prospectus conform in all material respects to the descriptions
thereof contained therein and there are no agreements or other documents required by the Securities Act to be described in the Registration
Statement and the Prospectus or to be filed with the Commission as exhibits to the Registration Statement, that have not been so described
or filed. Each agreement or other instrument (however characterized or described) to which the Company is a party or by which it is or
may be bound or affected and (i) that is referred to in the Registration Statement and the Prospectus, or (ii) is material to the Company&rsquo;s
business, has been duly authorized and validly executed by the Company, is in full force and effect in all material respects and is enforceable
against the Company and, to the Company&rsquo;s knowledge, the other parties thereto, in accordance with its terms, except (x) as such
enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors&rsquo; rights generally, (y)
as enforceability of any indemnification or contribution provision may be limited under the federal and state securities laws, and (z)
that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to the equitable defenses and
to the discretion of the court before which any proceeding therefor may be brought. None of such agreements or instruments has been assigned
by the Company, and neither the Company nor, to the Company&rsquo;s knowledge, any other party is in default thereunder and, to the Company&rsquo;s
knowledge, no event has occurred that, with the lapse of time or the giving of notice, or both, would constitute a default thereunder.
To the best of the Company&rsquo;s knowledge, performance by the Company of the material provisions of such agreements or instruments
will not result in a violation of any existing applicable law, rule, regulation, judgment, order or decree of any governmental agency
or court, domestic or foreign, having jurisdiction over the Company or any of its assets or businesses (each, a &ldquo;<B><U>Governmental
Entity</U></B>&rdquo;), including, without limitation, those relating to environmental laws and regulations.</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">(pp) <U>Title to Properties</U>.
Except as set forth in the Registration Statement and the Prospectus, the Company has good and marketable title in fee simple to, or has
valid rights to lease or otherwise use, all items of real or personal property which are material to the business of the Company, in each
case free and clear of all liens, encumbrances, security interests, claims and defects that do not, singly or in the aggregate, materially
affect the value of such property and do not interfere with the use made and proposed to be made of such property by the Company; and
all of the leases and subleases material to the business of the Company, and under which the Company holds properties described in the
Registration Statement and the Prospectus, are in full force and effect, and the Company has not received any notice of any material claim
of any sort that has been asserted by anyone adverse to the rights of the Company under any of the leases or subleases mentioned above,
or affecting or questioning the rights of the Company to the continued possession of the leased or subleased premises under any such lease
or sublease, which would result in a Material Adverse Change.</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">(qq) <U>No Unlawful Contributions
or Other Payments</U>. No payments or inducements have been made or given, directly or indirectly, to any federal or local official or
candidate for, any federal or state office in the United States or foreign offices by the Company or any of its officers or directors,
or, to the knowledge of the Company, by any of its employees or agents or any other person in connection with any opportunity, contract,
permit, certificate, consent, order, approval, waiver or other authorization relating to the business of the Company, except for such
payments or inducements as were lawful under applicable laws, rules and regulations. Neither the Company, nor, to the knowledge of the
Company, any director, officer, agent, employee or other person associated with or acting on behalf of the Company, (i) has used any corporate
funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) made any direct
or indirect unlawful payment to any government official or employee from corporate funds; or (iii) made any bribe, unlawful rebate, payoff,
influence payment, kickback or other unlawful payment in connection with the business of the Company.</P>

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

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

<!-- Field: Page; Sequence: 12; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(rr) <U>Foreign Corrupt Practices
Act</U>. None of the Company or, to the knowledge of the Company, any director, officer, agent, employee, affiliate or other person acting
on behalf of the Company, is aware of or has taken any action, directly or indirectly, that would result in a violation by such persons
of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (collectively, the &ldquo;<B><U>FCPA</U></B>&rdquo;),
including, without limitation, making use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance
of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization
of the giving of anything of value to any &ldquo;foreign official&rdquo; (as such term is defined in the FCPA) or any foreign political
party or official thereof or any candidate for foreign political office, in contravention of the FCPA. The Company has conducted its business
in compliance with the FCPA and has instituted and maintains policies and procedures designed to ensure, and which are reasonably expected
to continue to ensure, continued compliance therewith.</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">(ss) <U>Money Laundering Laws</U>.
The operations of the Company are and have been conducted at all times in compliance with applicable financial recordkeeping and reporting
requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions,
the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by
any governmental agency (collectively, the &ldquo;<B><U>Money Laundering Laws</U></B>&rdquo;) and no action, suit or proceeding by or
before any court or governmental agency, authority or body or any arbitrator involving the Company with respect to the Money Laundering
Laws is pending or, to the knowledge of the Company, threatened.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-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">(tt) <U>OFAC</U>. None of
the Company or, to the knowledge of the Company, any director, officer, agent, employee, affiliate or person acting on behalf
of the Company is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department
(&ldquo;<B><U>OFAC</U></B>&rdquo;); and the Company will not directly or indirectly use the proceeds of the offering, or lend, contribute
or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing
the activities of any person currently subject to any U.S. sanctions administered by OFAC.</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">(uu) <U>Exchange Listing</U>.
The Ordinary Shares are registered pursuant to Section 12(b) of the Exchange Act and is currently listed on the Exchange under the trading
symbol &ldquo;TRUB&rdquo;. Except as disclosed in the Registration Statement, the Prospectus, there is no action pending by the Company
or, to the Company&rsquo;s knowledge, the Exchange to delist the ADSs from the Exchange, nor has the Company received any notification
that the Exchange is contemplating terminating such listing. The Company has no intention to delist the ADSs from the Exchange or to deregister
the ADSs under the Exchange Act, in either case, at any time during the period commencing on the date of this Agreement through and including
the 90th calendar day after the termination of this Agreement. The Placement ADSs have been approved for listing on the Exchange. The
issuance and sale of the Placement ADSs under this Agreement does not contravene the rules and regulations of the Exchange.</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">(vv) <U>Margin Rules</U>.
The Company owns no &ldquo;margin securities&rdquo; as that term is defined in Regulation U of the Board of Governors of the Federal Reserve
System (the &ldquo;<B><U>Federal Reserve Board</U></B>&rdquo;), and none of the proceeds from the issuance, sale and delivery of the Placement
ADSs as contemplated by this Agreement and as described in the Registration Statement and the Prospectus will be used, directly or indirectly,
for the purpose of purchasing or carrying any margin security, for the purpose of reducing or retiring any indebtedness which was originally
incurred to purchase or carry any margin security or for any other purpose which might cause any of the Ordinary Shares to be considered
a &ldquo;purpose credit&rdquo; within the meanings of Regulation T, U or X of the Federal Reserve Board.</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">(ww) <U>Underwriter Agreements</U>.
The Company is not a party to any agreement with an agent or underwriter for any other &ldquo;at-the-market&rdquo; or continuous equity
transaction.</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">(xx) <U>Board of Directors</U>.
The qualifications of the persons serving as board members of the Company and the overall composition of the Company&rsquo;s Board of
Directors comply with the applicable requirements of the Exchange Act and the Sarbanes-Oxley Act and the listing rules of the Exchange
applicable to the Company. At least one member of the Audit Committee of the Board of Directors of the Company qualifies as an &ldquo;audit
committee financial expert,&rdquo; as such term is defined under Regulation S-K and the listing rules of the Exchange.</P>

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

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

<!-- Field: Page; Sequence: 13; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(yy) <U>No Integration</U>.
Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf has, directly or indirectly, made any offers
or sales of any security or solicited any offers to buy any security, under circumstances that would cause the offer and sale of the Placement
ADSs hereunder to be integrated with prior offerings by the Company for purposes of the Securities Act that would require the registration
of any such securities under the Securities Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(zz) <U>No Material Defaults</U>.
The Company has not defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases,
which defaults, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Change. The Company has
not filed a report pursuant to Section 13(a) or 15(d) of the Exchange Act since the filing of its last Annual Report on Form 20-F, indicating
that it (i) has failed to pay any dividend or sinking fund installment on preferred stock or (ii) has defaulted on any installment on
indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, could
reasonably be expected to result in a Material Adverse Change.</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">(aaa) <U>Books and Records</U>.
The minute books of the Company have been made available to the Sales Agent and counsel for the Sales Agent, and such books (i) contain
a substantially complete summary of all meetings and material actions of the board of directors (including each board committee) and stockholders
of the Company (or analogous governing bodies and interest holders, as applicable) since 2016 through the date of the latest meeting and
action, and (ii) accurately in all material respects reflect all transactions referred to in such minutes.</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">(bbb) <U>Regulations</U>.
The disclosures in the Registration Statement and the Prospectus concerning the effects of federal, state, local and all foreign regulation
on the Company&rsquo;s business in the past and as currently contemplated are correct in all material respects and no other such regulations
are required to be disclosed in the Registration Statement and the Prospectus which are not so disclosed.</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">(ccc) <U>Confidentiality and
Non-Competitions</U>. To the Company&rsquo;s knowledge, no director, officer, key employee or consultant of the Company is subject to
any confidentiality, non-disclosure, non-competition agreement or non-solicitation agreement with any employer or prior employer that
could reasonably be expected to materially affect his ability to be and act in his respective capacity of the Company or be expected to
result in a Material Adverse Change.</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">(ddd) <U>PFIC Status</U>.
The Company was not a &ldquo;passive foreign investment company&rdquo; (&ldquo;<B><U>PFIC</U></B>&rdquo;) as defined in Section 1297 of
the U.S. Internal Revenue Code of 1986, as amended, for the taxable year ended December 31, 2021 and, based on certain estimates of the
Company&rsquo;s gross income and the value of its assets, the intended use of proceeds from the offering and sale of the Placement ADSs
and the nature of the Company&rsquo;s business, the Company does not expect to be classified as a PFIC for the taxable year ending December
31, 2025 .</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">(eee) <U>CFC Status</U>. The
Company was not a &ldquo;controlled foreign corporation&rdquo; (&ldquo;<B><U>CFC</U></B>&rdquo;) as defined in the U.S. Internal Revenue
Code of 1986, as amended, for the taxable year ended December 31, 2024 and, based on the Company&rsquo;s expectations with respect to
its shareholders, the Company does not expect to be classified as a CFC for the taxable year ending December 31, 2025.</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">(fff) <U>Validity of Choice
of Law</U>. The choice of the laws of the State of New York as the governing law of this Agreement is a valid choice of law under the
laws of the Kingdom of Spain and is expected to be honored by courts in the Kingdom of Spain. The Company has the power to submit, and
pursuant to this Agreement, has legally, validly, effectively and irrevocably submitted, to the personal jurisdiction of each the State
of New York and United States Federal court sitting in New York County (each, a &ldquo;<B><U>New York Court</U></B>&rdquo;) and has validly
and irrevocably waived any objection to the laying of venue of any suit, action or proceeding brought in any such court; and the Company
has the power to designate, appoint and empower, and pursuant to this Agreement, has legally, validly, effectively and irrevocably designated,
appointed and empowered, an authorized agent for service of process in any action arising out of or relating to this Agreement, or the
offering of the Placement ADSs in any New York Court, and service of process effected on such authorized agent will be effective to confer
valid personal jurisdiction over the Company as provided in this Agreement.&#9;</P>

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

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

<!-- Field: Page; Sequence: 14; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(ggg) <U>Enforceability of
Judgments</U>. Any final judgment for a fixed sum of money rendered by any U.S. federal or New York state court located in the State of
New York having jurisdiction under its own laws in respect of any suit, action or proceeding against the Company based upon this Agreement
and the Placement ADSs may be recognized and enforced against the Company in the Kingdom of Spain.</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">Any certificate signed by an officer of the Company
and delivered to the Sales Agent or to counsel for the Sales Agent pursuant to or in connection with this Agreement shall be deemed to
be a representation and warranty by the Company to the Sales Agent as to the matters set forth therein.</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">The Company acknowledges that the Sales Agent
and, for purposes of the opinions to be delivered pursuant to <U>Section 7</U> hereof, counsel to the Company and counsel to the Sales
Agent, will rely upon the accuracy and truthfulness of the foregoing representations and hereby consents to such reliance.</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">7. <U>Covenants of the Company</U>.
The Company covenants and agrees with the Sales Agent that:</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">(a) <U>Registration Statement
Amendments</U>. After the date of this Agreement and during any period in which a Prospectus relating to any Placement ADSs is required
to be delivered by the Sales Agent under the Securities Act (including in circumstances where such requirement may be satisfied pursuant
to Rule 153 or Rule 172 under the Securities Act), (i) the Company will notify the Sales Agent promptly of the time when any subsequent
amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and/or has
become effective or any subsequent supplement to the Prospectus has been filed and of any request by the Commission for any amendment
or supplement to the Registration Statement or Prospectus or for additional information; (ii) the Company will prepare and file with the
Commission, promptly upon the Sales Agent&rsquo;s reasonable request, any amendments or supplements to the Registration Statement or Prospectus
that, in the Sales Agent&rsquo;s reasonable opinion, may be necessary or advisable in connection with the distribution of the Placement
ADSs by the Sales Agent (<I>provided</I>, <I>however</I>, that the failure of the Sales Agent to make such request shall not relieve the
Company of any obligation or liability hereunder, or affect the Sales Agent&rsquo;s right to rely on the representations and warranties
made by the Company in this Agreement, and <I>provided</I>, <I>further</I>, that the only remedy the Sales Agent shall have with respect
to the failure to make such filing shall be to cease making sales under this Agreement until such amendment or supplement is filed); (iii)
the Company will not file any amendment or supplement to the Registration Statement or Prospectus, other than documents incorporated by
reference, relating to the Placement ADSs or a security convertible into the Placement ADSs unless a copy thereof has been submitted to
the Sales Agent within a reasonable period of time before the filing and the Sales Agent has not reasonably objected thereto (<I>provided</I>,
<I>however</I>, that the failure of the Sales Agent to make such objection shall not relieve the Company of any obligation or liability
hereunder, or affect the Sales Agent&rsquo;s right to rely on the representations and warranties made by the Company in this Agreement,
and <I>provided</I>, <I>further</I>, that the only remedy the Sales Agent shall have with respect to the failure by the Company to obtain
such consent shall be to cease making sales under this Agreement); (iv) the Company will furnish to the Sales Agent at the time of filing
thereof a copy of any document that upon filing is deemed to be incorporated by reference into the Registration Statement or Prospectus,
except for those documents available via EDGAR; and (v) the Company will cause each amendment or supplement to the Prospectus, other than
documents incorporated by reference, to be filed with the Commission as required pursuant to the applicable paragraph of Rule 424(b) of
the Securities Act (without reliance on Rule 424(b)(8) of the Securities Act) or, in the case of any documents incorporated by reference,
to be filed with the Commission as required pursuant to the Exchange Act, within the time period prescribed.</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">(b) <U>Notice of Commission
Stop Orders</U>. The Company will advise the Sales Agent, promptly after it receives notice or obtains knowledge thereof, of the issuance
by the Commission of any stop order suspending the effectiveness of the Registration Statement or any notice objecting to, or other order
preventing or suspending the use of, the Prospectus, of the suspension of the qualification of the Placement ADSs for offering or sale
in any jurisdiction, or of the initiation of any proceeding for any such purpose or any examination pursuant to Section 8(e) of the Securities
Act, or if the Company becomes the subject of a proceeding under Section 8A of the Securities Act in connection with the offering of the
Placement ADSs; and it will promptly use its commercially reasonable efforts to prevent the issuance of any stop order or to obtain its
withdrawal if such a stop order should be issued. Until such time as any stop order is lifted, the Sales Agent shall cease making offers
and sales under this Agreement.</P>

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

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

<!-- Field: Page; Sequence: 15; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(c) <U>Delivery of Prospectus;
Subsequent Changes</U>. During any period in which a Prospectus relating to the Placement ADSs is required to be delivered by the Sales
Agent under the Securities Act with respect to a pending sale of the Placement ADSs (including in circumstances where such requirement
may be satisfied pursuant to Rule 153 or Rule 172 under the Securities Act), the Company will comply in all material respects with all
requirements imposed upon it by the Securities Act, as from time to time in force, and to file on or before their respective due dates
all reports and any definitive proxy or information statements required to be filed by the Company with the Commission pursuant to Sections
13(a), 13(c), 14, 15(d) or any other provision of or under the Exchange Act. If during such period any event occurs as a result of which
the Prospectus as then amended or supplemented would include an untrue statement of a material fact or omit to state a material fact necessary
to make the statements therein, in the light of the circumstances then existing, not misleading, or if during such period it is necessary
to amend or supplement the Registration Statement or Prospectus to comply with the Securities Act, the Company will promptly notify the
Sales Agent to suspend the offering of Placement ADSs during such period and the Company will promptly amend or supplement the Registration
Statement or Prospectus (at the expense of the Company) so as to correct such statement or omission or effect such compliance; <I>provided</I>,
<I>however</I>, that the Company may delay any such amendment or supplement if, in the reasonable judgment of the Company, it is in the
best interests of the Company to do so.</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">(d) <U>Listing of Placement
ADSs</U>. During any period in which the Prospectus relating to the Placement ADSs is required to be delivered by the Sales Agent under
the Securities Act with respect to a pending sale of the Placement ADSs (including in circumstances where such requirement may be satisfied
pursuant to Rule 153 or Rule 172 under the Securities Act), the Company will use its commercially reasonable efforts to cause the Placement
ADSs to be listed on the Exchange and to qualify the Placement ADSs for sale under the securities laws of such jurisdictions as the Sales
Agent reasonably designates and to continue such qualifications in effect so long as required for the distribution of the Placement ADSs;
<I>provided</I>, <I>however</I>, that the Company shall not be required in connection therewith to qualify as a foreign corporation or
dealer in securities or file a general consent to service of process in any jurisdiction.</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">(e) <U>Delivery of Registration
Statement and Prospectus</U>. The Company will furnish to the Sales Agent and its counsel (at the expense of the Company) copies of the
Registration Statement, the Prospectus (including all documents incorporated by reference therein) and all amendments and supplements
to the Registration Statement or Prospectus that are filed with the Commission during any period in which a Prospectus relating to the
Placement ADSs is required to be delivered under the Securities Act (including all documents filed with the Commission during such period
that are deemed to be incorporated by reference therein), in each case as soon as reasonably practicable and in such quantities as the
Sales Agent may from time to time reasonably request and, at the Sales Agent&rsquo;s request, will also furnish copies of the Prospectus
to each exchange or market on which sales of the Placement ADSs may be made; <I>provided</I>, <I>however</I>, that the Company shall not
be required to furnish any document (other than the Prospectus) to the Sales Agent to the extent such document is available on EDGAR.</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">(f) <U>Earnings Statement</U>.
The Company will make generally available to its security holders as soon as practicable, but in any event not later than 15 months after
the end of the Company&rsquo;s current fiscal year, an earnings statement of the Company (which need not be audited) covering a 12-month
period that complies with Section 11(a) and Rule 158 of the Securities Act. The terms &ldquo;earnings statement&rdquo; and &ldquo;make
generally available to its security holders&rdquo; shall have the meanings set forth in Rule 158 under the Securities Act.</P>

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

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

<!-- Field: Page; Sequence: 16; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(g) <U>Expenses</U>. The Company,
whether or not the transactions contemplated hereunder are consummated or this Agreement is terminated in accordance with the provisions
of <U>Section 11</U> hereunder, will pay the following expenses all incident to the performance of its obligations hereunder, including,
but not limited to, expenses relating to (i) the preparation, printing and filing of the Registration Statement and each amendment and
supplement thereto, of each Prospectus and of each amendment and supplement thereto, (ii) the preparation, issuance and delivery of the
Placement ADSs, including any stock or other transfer taxes and any stamp or other duties payable upon the sale, issuance or delivery
of the Placement ADSs to the Sales Agent, (iii) the fees and disbursements of the counsel, accountants and other advisors to the Company
in connection with the transactions contemplated by this Agreement; (iv) the qualification of the Placement ADSs under securities laws
in accordance with the provisions of <U>Section 7(d)</U> of this Agreement, including filing fees (<I>provided</I>, <I>however</I>, that
any fees or disbursements of counsel for the Sales Agent in connection therewith shall be paid by the Sales Agent except as set forth
in (ix) below), (v) the printing and delivery to the Sales Agent of copies of the Prospectus and any amendments or supplements thereto,
and of this Agreement, (vi) the fees and expenses incurred in connection with the listing or qualification of the Placement ADSs for trading
on the Exchange, (vii) the fees and expenses of the transfer agent or registrar for the Ordinary Shares and/or the Depository for ADSs;
(viii) filing fees and expenses, if any, of the Commission and the FINRA Corporate Financing Department (<I>provided</I>, <I>however</I>,
that any fees or disbursements of counsel for the Sales Agent in connection therewith shall be paid by the Sales Agent except as set forth
in (ix) below), (ix) the Company shall reimburse the Sales Agent for its reasonable and documented out-of-pocket expenses (including but
not limited to the Sales Agent&rsquo;s transaction costs and the reasonable and documented fees and expenses of counsel to the Sales Agent)
in an amount not to exceed $50,000 (the &ldquo;<B>Sales Agent Expenses</B>&rdquo;) which Sales Agent Expenses shall be due and payable
prior to the first Placement pursuant to this Agreement, <I>provided further</I> that the Company shall reimburse the Sales Agent for
its reasonable and documented out-of-pocket expenses related to maintenance of the Agreement (including but not limited to the Sales Agent&rsquo;s
transaction costs and the reasonable and documented fees and expenses of counsel to the Sales Agent) on a semi-annual basis in an amount
not to exceed $7,500 which shall be due and payable prior to each Representation Date, <I>provided further</I>&nbsp;that the Company shall
reimburse the Sales Agent for its expenses (including but not limited to the reasonable fees and documented&nbsp;out-of-pocked&nbsp;costs
and expenses of counsel to the Sales Agent) up to $12,000 for each program &ldquo;refresh&rdquo; (filing of a new registration statement,
prospectus, or prospectus supplement relating to the Placement ADSs and/or an amendment of this Agreement) executed pursuant to this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h) <U>Use of Proceeds</U>.
The Company will use the Net Proceeds as described in the Prospectus in the section entitled &ldquo;Use of Proceeds.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) <U>Notice of Other Sales</U>.
The Company (I) shall provide the Sales Agent notice as promptly as reasonably possible before it offers to sell, contracts to sell, sells,
grants any option to sell or otherwise disposes of any Ordinary Shares or ADSs (other than Placement ADSs offered pursuant to the provisions
of this Agreement) or securities convertible into or exchangeable for Ordinary Shares or ADSs, or warrants or any rights to purchase or
acquire Ordinary Shares or ADSs, during the period beginning on the fifth (5<SUP>th</SUP>) Trading Day immediately prior to the date on
which any Placement Notice is delivered to the Sales Agent hereunder and ending on the fifth (5<SUP>th</SUP>) Trading Day immediately
following the final Settlement Date with respect to Placement ADSs sold pursuant to such Placement Notice (or, if the Placement Notice
has been terminated or suspended prior to the sale of all Placement ADSs covered by a Placement Notice, the fifth (5<SUP>th</SUP>) Trading
Day immediately following the date of such suspension or termination), and (II) will not directly or indirectly engage in any other &ldquo;at-the-market&rdquo;
or continuous equity transaction offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of any ADSs (other
than the Placement ADSs offered pursuant to this Agreement) or securities convertible into or exchangeable for ADSs, warrants or any rights
to purchase or acquire, ADSs prior to the termination of this Agreement without the prior written consent of the Sales Agent; <I>provided</I>,
<I>however</I>, that such notice requirements or restrictions, as the case may be, will not be required in connection with the Company&rsquo;s
issuance or sale of (i) Ordinary Shares, ADSs, options to purchase ADSs or Ordinary Shares, other equity awards or Ordinary Shares or
ADSs issuable upon the exercise of options or other equity awards, pursuant to any employee or director stock option or benefits plan,
stock ownership plan or dividend reinvestment plan of the Company whether now in effect or hereafter implemented, (ii) ADSs or Ordinary
Shares issuable upon exchange, conversion or redemption of securities or the exercise of warrants, options or other rights in effect or
outstanding, and disclosed in filings by the Company available on EDGAR or otherwise in writing (including by email correspondence) to
the Sales Agent and (iii) Ordinary Shares or ADSs convertible into or exchangeable for ADSs as consideration for mergers, acquisitions,
sale or purchase of assets or other business combinations or strategic alliances occurring after the date of this Agreement which are
not issued for capital raising purposes. Notwithstanding the foregoing, the Company shall provide the Sales Agent notice at least two
(2) days prior to pursuing any private or public offerings of equity and/or other securities (including debt securities) in one or more
transactions.</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">(j) <U>Change of Circumstances</U>.
The Company will, at any time during the pendency of a Placement Notice advise the Sales Agent promptly after it shall have received notice
or obtained knowledge thereof, of any information or fact that would alter or affect in any material respect any opinion, certificate,
letter or other document provided to the Sales Agent pursuant to this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(k) <U>Due Diligence Cooperation</U>.
The Company will cooperate with any reasonable due diligence review conducted by the Sales Agent or its agents in connection with the
transactions contemplated hereby, including, without limitation, providing information and making available documents and senior corporate
officers, during regular business hours and at the Company&rsquo;s principal offices, as the Sales Agent may reasonably request.</P>

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

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

<!-- Field: Page; Sequence: 17; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(l) <U>Required Filings Relating
to Placement of Placement ADSs</U>. The Company shall set forth in each Annual Report on Form 20-F or Report on Form 6-K filed by the
Company with the Commission in respect of any semi-annual period in which sales of Placement ADSs were made by or through the Sales Agent
under this Agreement, with regard to the relevant period, the amount of Placement ADSs sold to or through the Sales Agent, the Net Proceeds
to the Company and the compensation payable by the Company to the Sales Agent with respect to such sales of Placement ADSs. To the extent
that the filing of a prospectus supplement with the Commission with respect to any sales of Placement ADSs becomes required under Rule
424(b) under the Securities Act, the Company agrees that, on or before such dates as the Securities Act shall require, the Company will
(i) file a prospectus supplement with the Commission under the applicable paragraph of Rule 424(b) under the Securities Act, which prospectus
supplement will set forth, with regard to the relevant period, the amount of Placement ADSs sold to or through the Sales Agent, the Net
Proceeds to the Company and the compensation payable by the Company to the Sales Agent with respect to such Placement ADSs, and (ii) deliver
such number of copies of each such prospectus supplement to each exchange or market on which such sales were effected as may be required
by the rules or regulations of such exchange or market. The Company shall afford the Sales Agent and its counsel with a reasonable opportunity
to review and comment upon, shall consult with the Sales Agent and its counsel on the form and substance of, and shall give due consideration
to all such comments from the Sales Agent or its counsel on, any such filing prior to the issuance, filing or public disclosure thereof;
provided, however, that the Company shall not be required to submit for review (A) any portion of any periodic reports filed with the
Commission under the Exchange Act other than the specific disclosure relating to any sales of Placement ADSs and (B) any disclosure contained
in periodic reports filed with the Commission under the Exchange Act if it shall have previously provided the same disclosure for review
in connection with a previous filing.</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">(m) <U>Representation Dates;
Certificate</U>. On or prior to the date the first Placement Notice is given hereunder and each time the Company (i) files the Prospectus
relating to the Placement ADSs or amends or supplements the Registration Statement or the Prospectus relating to the Placement ADSs (other
than (A) a prospectus supplement filed in accordance with <U>Section 7(l)</U> of this Agreement or (B) a supplement or amendment that
relates to an offering of securities other than the Placement ADSs) by means of a post-effective amendment, sticker, or supplement but
not by means of incorporation of document(s) by reference to the Registration Statement or the Prospectus relating to the Placement ADSs;
(ii) files an annual report on Form 20-F under the Exchange Act (including any Form 20-F/A containing amended financial information or
a material amendment to the previously filed Form 20-F); (iii) files a Form 6-K under the Exchange Act containing interim financial statements;
or (iv) files or furnishes a report on Form 6-K containing amended financial information (other than an earnings release) under the Exchange
Act (each date of filing of one or more of the documents referred to in clauses (i) through (iv) shall be a &ldquo;<B><U>Representation
Date</U></B>&rdquo;), the Company shall furnish the Sales Agent within three (3) Trading Days after each Representation Date with a certificate,
in the form attached hereto as <U>Exhibit 7(m)</U>. The requirement to provide a certificate under this <U>Section 7(m)</U> shall be
waived for any Representation Date occurring at a time at which no Placement Notice is pending, which waiver shall continue until the
earlier to occur of the date the Company delivers a Placement Notice hereunder (which for such calendar quarter shall be considered a
Representation Date) and the next occurring Representation Date; <I>provided</I>, <I>however</I>, that such waiver shall not apply for
any Representation Date on which the Company files its annual report on Form 20-F. Notwithstanding the foregoing, if the Company subsequently
decides to sell Placement ADSs following a Representation Date when the Company relied on such waiver and did not provide the Sales Agent
with a certificate under this <U>Section 7(m)</U>, then before the Company delivers the Placement Notice or the Sales Agent sells any
Placement ADSs, the Company shall provide the Sales Agent with a certificate, in the form attached hereto as <U>Exhibit 7(m)</U>, dated
the date of the Placement Notice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(n) <U>Legal Opinion</U>.
On or prior to the date the first Placement Notice is given hereunder, the Company shall cause to be furnished to the Sales Agent (i)
the written opinion and negative assurance of Bevilacqua PLLC, as counsel to the Company, or other counsel reasonably satisfactory to
the Sales Agent (&ldquo;<B><U>SEC Counsel</U></B>&rdquo;) and (ii) the written opinion of Auren, as Spanish counsel to the Company, or
other counsel reasonably satisfactory to the Sales Agent&nbsp;(&ldquo;<B><U>Local Counsel</U></B>&rdquo;), in each case substantially
in the forms previously agreed between the Company and the Sales Agent. Thereafter, within three (3) Trading Days after each Representation
Date with respect to which the Company is obligated to deliver a certificate pursuant to <U>Section 7(m)</U> for which no waiver is applicable
pursuant to <U>Section 7(m)</U>, the Company shall cause to be furnished to the Sales Agent the written opinion and negative assurance
of SEC Counsel and the written opinion of Local Counsel substantially in the forms previously agreed between the Company and the Sales
Agent, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented; <I>provided</I>,
<I>however</I>, that if SEC Counsel has previously furnished to the Sales Agent such written opinions and negative assurance of such counsel,
and if Local Counsel has previously furnished to the Sales Agent such written opinions of such counsel, in each case substantially in
the forms previously agreed between the Company and the Sales Agent, then SEC Counsel and Local Counsel may, in respect of any future
Representation Date, furnish the Sales Agent with a letter signed by such counsel (each, a &ldquo;<B><U>Reliance Letter</U></B>&rdquo;)
in lieu of such opinion and negative assurance of such counsel (as applicable) to the effect that the Sales Agent may rely on the prior
opinion and negative assurance of such counsel (as applicable) delivered pursuant to this <U>Section 7(n)</U> to the same extent as if
it were dated the date of such Reliance Letter (except that statements in such prior opinion and negative assurance (as applicable) shall
be deemed to relate to the Registration Statement and the Prospectus as amended or supplemented to the date of such Reliance Letter).</P>

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

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

<!-- Field: Page; Sequence: 18; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(o) <U>Comfort Letter</U>.
On or prior to the date the first Placement Notice is given hereunder and within three (3) Trading Days after each subsequent Representation
Date with respect to which the Company is obligated to deliver a certificate pursuant to Section 7(m) for which no waiver is applicable
pursuant to Section 7(m), other than a Representation Date under <U>Section 7(m)(iii) </U>or <U>Section 7(m)(iv)</U> unless with respect
to a Representation Date under <U>Section 7(m)(iv)</U> the Sales Agent reasonably requests delivery thereof, the Company shall cause its
independent accountants to furnish the Sales Agent letters (the &ldquo;<B><U>Comfort Letters</U></B>&rdquo;), dated the date that the
Comfort Letter is delivered, in form and substance satisfactory to the Sales Agent, (i) confirming that they are an independent registered
public accounting firm within the meaning of the Securities Act, the Exchange Act and the rules and regulations of the PCAOB and are in
compliance with the applicable requirements relating to the qualification of accountants under Rule 2-01 of Regulation S-X of the Commission,
(ii) stating, as of such date, the conclusions and findings of such firm with respect to the financial information and other matters ordinarily
covered by accountants&rsquo; &ldquo;comfort letters&rdquo; to the Sales Agent in connection with registered public offerings (the first
such letter, the &ldquo;<B><U>Initial Comfort Letter</U></B>&rdquo;) and (iii) updating the Initial Comfort Letter with any information
that would have been included in the Initial Comfort Letter had it been given on such date and modified as necessary to relate to the
Registration Statement and the Prospectus, as amended and supplemented to the date of such letter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(p) <U>Market Activities</U>.
The Company will not, directly or indirectly, (i) take any action designed to cause or result in, or that constitutes or might reasonably
be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale
of the ADSs or Ordinary Shares underlying the ADSs or (ii) sell, bid for, or purchase ADSs or Ordinary Shares underlying the ADSs in violation
of Regulation M, or pay anyone any compensation for soliciting purchases of the Placement ADSs other than the Sales Agent.</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">(q) <U>Insurance</U>. The
Company shall maintain insurance in such amounts and covering such risks as is reasonable and customary for the business in which it is
engaged.</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">(r) <U>Investment Company
Act</U>. The Company will conduct its affairs in such a manner so as to reasonably ensure that it is not and, after giving effect to the
offering and sale of the Placement ADSs and the application of proceeds therefrom as described in the Prospectus, will not be, an &ldquo;investment
company&rdquo; within the meaning of such term under the Investment Company Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(s) <U>Securities Act and
Exchange Act</U>. The Company will use its reasonable best efforts to comply with all requirements imposed upon it by the Securities Act
and the Exchange Act as from time to time in force, so far as necessary to permit the continuance of sales of, or dealings in, the Placement
ADSs as contemplated by the provisions hereof and the Prospectus.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(t) <U>No Offer to Sell</U>.
Other than the Prospectus and an Issuer Free Writing Prospectus approved in advance by the Company and the Sales Agent in its capacity
as principal or agent hereunder, neither the Sales Agent nor the Company (including its agents and representatives, other than the Sales
Agent in its capacity as such) will make, use, prepare, authorize, approve or refer to any written communication (as defined in Rule 405
under the Securities Act), required to be filed with the Commission, that constitutes an offer to sell or solicitation of an offer to
buy Placement ADSs hereunder.</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">(u) <U>Sarbanes-Oxley Act</U>.
The Company will use its reasonable best efforts to comply with all effective applicable provisions of the Sarbanes-Oxley Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(v) <U>Share Registrar and
Depositary</U>. The Company shall maintain, at its sole expense, a registrar for the Ordinary Shares and a depositary for ADSs.</P>

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

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

<!-- Field: Page; Sequence: 19; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">8. <U>Conditions to the Sales
Agent&rsquo;s Obligations</U>. The obligations of the Sales Agent hereunder with respect to a Placement will be subject to the continuing
accuracy and completeness of the representations and warranties made by the Company herein, to the due performance by the Company of its
obligations hereunder, to the completion by the Sales Agent of a due diligence review satisfactory to the Sales Agent in its reasonable
judgment, and to the continuing satisfaction (or waiver by the Sales Agent in its sole discretion) of the following additional conditions:</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">(a) <U>Registration Statement
Effective</U>. The Registration Statement shall be effective and shall be available for the sale of all Placement ADSs contemplated to
be issued by any Placement Notice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) <U>Securities Act Filings
Made</U>. The Company shall have filed with the Commission the ATM Prospectus pursuant to Rule 424(b) under the Securities Act not later
than the Commission&rsquo;s close of business on the second Business Day following the date of this Agreement. All other filings with
the Commission required by Rule 424(b) or Rule 433 under the Securities Act to have been filed prior to the issuance of any Placement
Notice hereunder shall have been made within the applicable time period prescribed for such filing by Rule 424(b) (without reliance on
Rule 424(b)(8) of the Securities Act) or Rule 433, as applicable.</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">(c) <U>No Material Notices</U>.
None of the following events shall have occurred and be continuing: (i) receipt by the Company of any request for additional information
from the Commission or any other federal or state governmental authority during the period of effectiveness of the Registration Statement,
the response to which would require any post-effective amendments or supplements to the Registration Statement or the Prospectus; (ii)
the issuance by the Commission or any other federal or state governmental authority of any stop order suspending the effectiveness of
the Registration Statement or the initiation of any proceedings for that purpose; (iii) receipt by the Company of any notification with
respect to the suspension of the qualification or exemption from qualification of any of the Placement ADSs for sale in any jurisdiction
or the initiation or threatening of any proceeding for such purpose; (iv) the occurrence of any event that makes any material statement
made in the Registration Statement or the Prospectus or any material document incorporated or deemed to be incorporated therein by reference
untrue in any material respect or that requires the making of any changes in the Registration Statement, related Prospectus or such documents
so that, in the case of the Registration Statement, it will not contain any materially untrue statement of a material fact or omit to
state any material fact required to be stated therein or necessary to make the statements therein not misleading and, that in the case
of the Prospectus, it will not contain any materially untrue statement of a material fact or omit to state any material fact required
to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading.</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">(d) <U>No Misstatement or
Material Omission</U>. The Sales Agent shall not have advised the Company that the Registration Statement or Prospectus, or any amendment
or supplement thereto, contains an untrue statement of fact that in the Sales Agent&rsquo;s reasonable opinion is material, or omits to
state a fact that in the Sales Agent&rsquo;s reasonable opinion is material and is required to be stated therein or is necessary to make
the statements therein not misleading.</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">(e) <U>Material Changes</U>.
Except as contemplated in the Prospectus, or disclosed in the Company&rsquo;s reports filed with the Commission, there shall not have
been any material adverse change in the authorized capital stock of the Company or any Material Adverse Change or any development that
could reasonably be expected to result in a Material Adverse Change, the effect of which, in the case of any such action by a rating organization
described above, in the reasonable judgment of the Sales Agent (without relieving the Company of any obligation or liability it may otherwise
have), is so material as to make it impracticable or inadvisable to proceed with the offering of the Placement ADSs on the terms and in
the manner contemplated by this Agreement and the Prospectus.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f) <U>Representation Certificate</U>.
The Sales Agent shall have received the certificate required to be delivered pursuant to <U>Section 7(m)</U> on or before the date on
which delivery of such certificate is required pursuant to <U>Section 7(m)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g) <U>Legal Opinion</U>.
The Sales Agent shall have received the opinion and negative assurance of SEC Counsel and the opinion of Local Counsel required to be
delivered pursuant <U>Section 7(n)</U> on or before the date on which such delivery of such opinion and negative assurance is required
pursuant to <U>Section 7(n)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h) <U>Comfort Letter</U>.
The Sales Agent shall have received the Comfort Letter required to be delivered pursuant <U>Section 7(o)</U> on or before the date on
which such delivery of such Comfort Letter is required pursuant to <U>Section 7(o)</U>.</P>

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

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

<!-- Field: Page; Sequence: 20; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(i) <U>Secretary&rsquo;s Certificate</U>.
On or prior to the date the first Placement Notice is given hereunder, the Sales Agent shall have received a certificate, signed on behalf
of the Company by its corporate secretary, certifying as to (i) the certificate of incorporation and bylaws, as amended of the Company
(as the same may be amended or restated from time to time), (ii) the resolutions of the Board of Directors of the Company (or a committee
thereof) authorizing the execution, delivery and performance of this Agreement and the issuance of the Placement ADSs and (iii) the incumbency
of the officers duly authorized to execute this Agreement and the other documents contemplated by this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(j) <U>No Suspension</U>.
Trading in the ADSs shall not have been suspended on the Exchange and the ADSs shall not have been delisted from the Exchange.</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">(k) <U>Other Materials</U>.
On each date on which the Company is required to deliver a certificate pursuant to <U>Section 7(m)</U>, the Company shall have furnished
to the Sales Agent such appropriate further opinions, certificates, letters and documents as the Sales Agent may have reasonably requested.
All such opinions, certificates, letters and other documents shall have been in compliance with the provisions hereof. The Company will
furnish the Sales Agent with such conformed copies of such opinions, certificates, letters and other documents as the Sales Agent shall
have reasonably requested.</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">(l) <U>Approval for Listing</U>.
The Company shall have filed an application for listing of the Placement ADSs on the Exchange at, or prior to, the issuance of any Placement
Notice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(m) <U>No Termination Event</U>.
There shall not have occurred any event that would permit the Sales Agent to terminate this Agreement pursuant to <U>Section 11(a)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(n) <U>FINRA</U>. The Sales
Agent shall have received a letter from the Corporate Financing Department of FINRA confirming that such department has determined to
raise no objection with respect to the fairness or reasonableness of the terms and arrangements related to the sale of the Placement ADSs
pursuant to this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9. <U>Indemnification and
Contribution</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) <U>Company Indemnification</U>.
The Company agrees to indemnify and hold harmless the Sales Agent, the directors, officers, members, partners, employees and agents of
the Sales Agent each broker dealer affiliate of the Sales Agent, and each Sales Agent Affiliate, if any, from and against any and all
losses, claims, liabilities, expenses and damages (including, but not limited to, any and all reasonable investigative, legal and other
expenses incurred in connection with, and any and all amounts paid in settlement (in accordance with <U>Section 9(c)</U>) of, any action,
suit or proceeding between any of the indemnified parties and any indemnifying parties or between any indemnified party and any third
party, or otherwise, or any claim asserted), as and when incurred, to which the Sales Agent, or any such person, may become subject under
the Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise, insofar as such
losses, claims, liabilities, expenses or damages arise out of or are based, directly or indirectly, on (x) any untrue statement or alleged
untrue statement of a material fact contained in the Registration Statement or the Prospectus or any amendment or supplement thereto or
in any Issuer Free Writing Prospectus or in any application or other document executed by or on behalf of the Company or based on written
information furnished by or on behalf of the Company filed in any jurisdiction in order to qualify the ADSs under the securities laws
thereof or filed with the Commission, (y) the omission or alleged omission to state in any such document a material fact required to be
stated in it or necessary to make the statements in it not misleading or (z) any breach by any of the indemnifying parties of any of their
respective representations, warranties and agreements contained in this Agreement; <I>provided, however</I>, that this indemnity agreement
shall not apply to the extent that such loss, claim, liability, expense or damage arises from the sale of the Placement ADSs pursuant
to this Agreement and is caused directly by an untrue statement or omission made in reliance upon and in strict conformity with written
information relating to the Sales Agent and furnished to the Company by the Sales Agent expressly for inclusion in any document as described
in clause (x) of this <U>Section 9(a)</U>. This indemnity agreement will be in addition to any liability that the Company might otherwise
have.</P>

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

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

<!-- Field: Page; Sequence: 21; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(b) <U>The Sales Agent Indemnification</U>.
The Sales Agent agrees to indemnify and hold harmless the Company and its directors and each officer of the Company that signed the Registration
Statement, and each person, if any, who (i) controls the Company within the meaning of Section 15 of the Securities Act or Section 20
of the Exchange Act or (ii) is controlled by or is under common control with the Company (each, a &ldquo;<B><U>Company Affiliate</U></B>&rdquo;)
from and against any and all losses, claims, liabilities, expenses and damages (including, but not limited to, any and all reasonable
investigative, legal and other expenses incurred in connection with, and any and all amounts paid in settlement (in accordance with <U>Section
9(c)</U>) of, any action, suit or proceeding between any of the indemnified parties and any indemnifying parties or between any indemnified
party and any third party, or otherwise, or any claim asserted), as and when incurred, to which any such Company Affiliate, may become
subject under the Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise,
insofar as such losses, claims, liabilities, expenses or damages arise out of or are based, directly or indirectly, on (x) any untrue
statement or alleged untrue statement of a material fact contained in the Registration Statement or the Prospectus or any amendment or
supplement thereto, or (y) the omission or alleged omission to state in any such document a material fact required to be stated in it
or necessary to make the statements in it not misleading; <I>provided</I>, <I>however</I>, that this indemnity agreement shall apply only
to the extent that such loss, claim, liability, expense or damage is caused directly by an untrue statement or omission made in reliance
upon and in strict conformity with written information relating to the Sales Agent and furnished to the Company by the Sales Agent expressly
for inclusion in any document as described in clause (x) of this <U>Section 9(b)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) <U>Procedure</U>. Any
party that proposes to assert the right to be indemnified under this <U>Section 9</U> will, promptly after receipt of notice of commencement
of any action against such party in respect of which a claim is to be made against an indemnifying party or parties under this <U>Section
9</U>, notify each such indemnifying party of the commencement of such action, enclosing a copy of all papers served, but the omission
so to notify such indemnifying party will not relieve the indemnifying party from (i) any liability that it might have to any indemnified
party otherwise than under this <U>Section 9</U> and (ii) any liability that it may have to any indemnified party under the foregoing
provision of this <U>Section 9</U> unless, and only to the extent that, such omission results in the forfeiture of substantive rights
or defenses by the indemnifying party. If any such action is brought against any indemnified party and it notifies the indemnifying party
of its commencement, the indemnifying party will be entitled to participate in and, to the extent that it elects by delivering written
notice to the indemnified party promptly after receiving notice of the commencement of the action from the indemnified party, jointly
with any other indemnifying party similarly notified, to assume the defense of the action, with counsel reasonably satisfactory to the
indemnified party, and after notice from the indemnifying party to the indemnified party of its election to assume the defense, the indemnifying
party will not be liable to the indemnified party for any legal or other expenses except as provided below and except for the reasonable
costs of investigation subsequently incurred by the indemnified party in connection with the defense. The indemnified party will have
the right to employ its own counsel in any such action, but the fees, expenses and other charges of such counsel will be at the expense
of such indemnified party unless (1) the employment of counsel by the indemnified party has been authorized in writing by the indemnifying
party, (2) the indemnified party has reasonably concluded (based on advice of counsel) that there may be legal defenses available to it
or other indemnified parties that are different from or in addition to those available to the indemnifying party, (3) a conflict or potential
conflict exists (based on advice of counsel to the indemnified party) between the indemnified party and the indemnifying party (in which
case the indemnifying party will not have the right to direct the defense of such action on behalf of the indemnified party) or (4) the
indemnifying party has not in fact employed counsel to assume the defense of such action within a reasonable time after receiving notice
of the commencement of the action, in each of which cases the reasonable fees, disbursements and other charges of counsel will be at the
expense of the indemnifying party or parties. It is understood that the indemnifying party or parties shall not, in connection with any
proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements and other charges of more
than one separate firm admitted to practice in such jurisdiction at any one time for all such indemnified party or parties. All such fees,
disbursements and other charges will be reimbursed by the indemnifying party promptly as they are incurred. An indemnifying party will
not, in any event, be liable for any settlement of any action or claim effected without its written consent. No indemnifying party shall,
without the prior written consent of each indemnified party, settle or compromise or consent to the entry of any judgment in any pending
or threatened claim, action or proceeding relating to the matters contemplated by this <U>Section 9</U> (whether or not any indemnified
party is a party thereto), unless such settlement, compromise or consent includes an unconditional release of each indemnified party from
all liability arising or that may arise out of such claim, action or proceeding.</P>

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

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

<!-- Field: Page; Sequence: 22; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(d) <U>Contribution</U>. In
order to provide for just and equitable contribution in circumstances in which the indemnification provided for in the foregoing paragraphs
of this <U>Section 9</U> is applicable in accordance with its terms but for any reason is held to be unavailable from the Company or the
Sales Agent, the Company and the Sales Agent will contribute to the total losses, claims, liabilities, expenses and damages (including
any investigative, legal and other expenses reasonably incurred in connection with, and any amount paid in settlement of, any action,
suit or proceeding or any claim asserted, but after deducting any contribution received by the Company from persons other than the Sales
Agent, such as persons who control the Company within the meaning of the Securities Act, officers of the Company who signed the Registration
Statement and directors of the Company, who also may be liable for contribution) to which the Company and the Sales Agent may be subject
in such proportion as shall be appropriate to reflect the relative benefits received by the Company on the one hand and the Sales Agent
on the other. The relative benefits received by the Company on the one hand and the Sales Agent on the other hand shall be deemed to be
in the same proportion as the total Net Proceeds from the sale of the Placement ADSs (before deducting expenses) received by the Company
bear to the total compensation received by the Sales Agent from the sale of Placement ADSs on behalf of the Company. If, but only if,
the allocation provided by the foregoing sentence is not permitted by applicable law, the allocation of contribution shall be made in
such proportion as is appropriate to reflect not only the relative benefits referred to in the foregoing sentence but also the relative
fault of the Company, on the one hand, and the Sales Agent, on the other, with respect to the statements or omission that resulted in
such loss, claim, liability, expense or damage, or action in respect thereof, as well as any other relevant equitable considerations with
respect to such offering. Such relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or
the Sales Agent, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such
statement or omission. The Company and the Sales Agent agree that it would not be just and equitable if contributions pursuant to this
<U>Section 9(d)</U> were to be determined by pro rata allocation or by any other method of allocation that does not take into account
the equitable considerations referred to herein. The amount paid or payable by an indemnified party as a result of the loss, claim, liability,
expense, or damage, or action in respect thereof, referred to above in this <U>Section 9(d) </U>shall be deemed to include, for the purpose
of this <U>Section 9(d)</U>, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating
or defending any such action or claim to the extent consistent with <U>Section 9(c)</U> hereof. Notwithstanding the foregoing provisions
of this <U>Section 9(d)</U>, the Sales Agent shall not be required to contribute any amount in excess of the commissions received by it
under this Agreement and no person found guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities
Act) will be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this <U>Section
9(d)</U>, any person who controls a party to this Agreement within the meaning of the Securities Act will have the same rights to contribution
as that party (and any officers, directors, members, partners, employees or agents of the Sales Agent and each broker dealer affiliate
of the Sales Agent will have the same rights to contribution as the Sales Agent), and each officer of the Company who signed the Registration
Statement and each director of the Company will have the same rights to contribution as the Company, subject in each case to the provisions
hereof. Any party entitled to contribution, promptly after receipt of notice of commencement of any action against such party in respect
of which a claim for contribution may be made under this <U>Section 9(d)</U>, will notify any such party or parties from whom contribution
may be sought, but the omission to so notify will not relieve that party or parties from whom contribution may be sought from any other
obligation it or they may have under this <U>Section 9(d)</U> except to the extent that the failure to so notify such other party materially
prejudiced the substantive rights or defenses of the party from whom contribution is sought. Except for a settlement entered into pursuant
to the last sentence of <U>Section 9(c)</U> hereof, no party will be liable for contribution with respect to any action or claim settled
without its written consent if such consent is required pursuant to <U>Section 9(c)</U> hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10. <U>Representations and
Agreements to Survive Delivery</U>. The indemnity and contribution agreements contained in <U>Section 9</U> of this Agreement and all
representations and warranties of the Company herein or in certificates delivered pursuant hereto shall survive, as of their respective
dates, regardless of (i) any investigation made by or on behalf of the Sales Agent, any controlling person of the Sales Agent, or the
Company (or any of their respective officers, directors, members or controlling persons), (ii) delivery and acceptance of the Placement
ADSs and payment therefor or (iii) any termination of this Agreement.</P>

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

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

<!-- Field: Page; Sequence: 23; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">11. <U>Termination</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) The Sales Agent shall
have the right by giving notice as hereinafter specified at any time to terminate this Agreement if (i) any Material Adverse Change, or
any development that could reasonably be expected to result in a Material Adverse Change has occurred that, in the reasonable judgment
of the Sales Agent, may materially impair the ability of the Sales Agent to sell the Placement ADSs hereunder, (ii) the Company shall
have failed, refused or been unable to perform any agreement on its part to be performed hereunder; <I>provided</I>, <I>however</I>, in
the case of any failure of the Company to deliver (or cause another person to deliver) any certification, opinion, or letter required
under <U>Sections 7(m)</U>, <U>7(n)</U>, or <U>7(o)</U> the Sales Agent&rsquo;s right to terminate shall not arise unless such failure
to deliver (or cause to be delivered) continues for more than thirty (30) days from the date such delivery was required, (iii) any other
condition of the Sales Agent&rsquo;s obligations hereunder is not fulfilled, or (iv) any suspension or limitation of trading in the Placement
ADSs or in securities generally on the Exchange shall have occurred (including automatic halt in trading pursuant to market-decline triggers,
other than those in which solely program trading is temporarily halted), or a major disruption of securities settlements or clearing services
in the United States shall have occurred, or minimum prices for trading have been fixed on the Exchange. Any such termination shall be
without liability of any party to any other party except that the provisions of <U>Section 7(g)</U> (Expenses), <U>Section 9</U> (Indemnification
and Contribution), <U>Section 10</U> (Representations and Agreements to Survive Delivery), <U>Section 11(f)</U>, <U>Section 16</U> (Applicable
Law; Consent to Jurisdiction), <U>Section 17</U> (Appointment of Agent for Service) and <U>Section 18</U> (Waiver of Jury Trial) hereof
shall remain in full force and effect notwithstanding such termination. If the Sales Agent elects to terminate this Agreement as provided
in this <U>Section 11(a)</U>, the Sales Agent shall provide the required notice as specified in <U>Section 12</U> (Notices).</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">(b) The Company shall have
the right, by giving five (5) days&rsquo; notice as hereinafter specified in <U>Section 12</U>, to terminate this Agreement in its sole
discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party to any other party
except that the provisions of <U>Section 7(g)</U>, <U>Section 9</U>, <U>Section 10</U>, <U>Section 11(f)</U>, <U>Section 16</U>, <U>Section
17</U> and <U>Section 18</U> hereof shall remain in full force and effect notwithstanding such termination.</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">(c) The Sales Agent shall
have the right, by giving five (5) days&rsquo; notice as hereinafter specified in <U>Section 12</U>, to terminate this Agreement in its
sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party to any other
party except that the provisions of <U>Section 7(g)</U>, <U>Section 9</U>, <U>Section 10</U>, <U>Section 11(f)</U>, <U>Section 16</U>,
<U>Section 17</U> and <U>Section 18</U> hereof shall remain in full force and effect notwithstanding such termination.</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">(d) Unless earlier terminated
pursuant to this <U>Section 11</U>, this Agreement shall automatically terminate upon the earlier to occur of (i) issuance and sale of
all of the Placement ADSs to or through the Sales Agent on the terms and subject to the conditions set forth herein and (ii) the expiration
of the Registration Statement on the third (3<SUP>rd</SUP>) anniversary of the initial effective date of the Registration Statement pursuant
to Rule 415(a)(5) under the Securities Act; <I>provided</I> that the provisions of <U>Section 7(g)</U>, <U>Section 9</U>, <U>Section 10</U>,
<U>Section 11(f)</U>, <U>Section 16</U>, <U>Section 17</U> and <U>Section 18</U> hereof shall remain in full force and effect notwithstanding
such termination.</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">(e) This Agreement shall remain
in full force and effect unless terminated pursuant to <U>Sections 11(a)</U>, <U>(b)</U>, <U>(c)</U> or <U>(d)</U> above or otherwise
by mutual agreement of the parties; <I>provided</I>, <I>however</I>, that any such termination by mutual agreement shall in all cases
be deemed to provide that <U>Section 7(g)</U>, <U>Section 9</U>, <U>Section 10</U>, <U>Section 11(f)</U>, <U>Section 16</U>, <U>Section
17</U> and <U>Section 18</U> shall remain in full force and effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f) Any termination of this
Agreement shall be effective on the date specified in such notice of termination; <I>provided</I>, <I>however</I>, that such termination
shall not be effective until the close of business on the date of receipt of such notice by the Sales Agent or the Company, as the case
may be. If such termination shall occur prior to the Settlement Date for any sale of Placement ADSs, such termination shall not become
effective until the close of business on such Settlement Date and such Placement ADSs shall settle in accordance with the provisions of
this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12. <U>Notices</U>. All notices
or other communications required or permitted to be given by any party to any other party pursuant to the terms of this Agreement shall
be in writing, unless otherwise specified, and if sent to the Sales Agent, shall be delivered to:</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 0pt 1in; text-align: justify">A.G.P./Alliance Global Partners</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">590 Madison Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">New York, NY 10022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Attention: Thomas J. Higgins</P>

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

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

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

<!-- Field: Page; Sequence: 24; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">with a copy (which shall not constitute notice)
to:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Thompson Hine LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">300 Madison Ave., 27<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">New York, NY 10017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Attention: Faith L. Charles</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">and if to the Company, shall be delivered to:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Turbo Energy, S.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Plaza de Am&eacute;rica 2, 4AB</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Valencia, Spain 46004</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">with a copy (which shall not constitute notice)
to:</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">1050 Connecticut
Avenue, NW, Suite 500</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Washington, DC 20036</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each party may change such
address for notices by sending to the other party to this Agreement written notice of a new address for such purpose. Each such notice
or other communication shall be deemed given (i) when delivered personally or by verifiable facsimile transmission (with an original to
follow) on or before 4:30 p.m., New York City time, on a Business Day or, if such day is not a Business Day, on the next succeeding Business
Day, (ii) on the next Business Day after timely delivery to a nationally-recognized overnight courier and (iii) on the Business Day actually
received if deposited in the U.S. mail (certified or registered mail, return receipt requested, postage prepaid). For purposes of this
Agreement, &ldquo;<B><U>Business Day</U></B>&rdquo; shall mean any day on which the Exchange and commercial banks in the City of New York
are open for business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">An electronic communication
(&ldquo;<B><U>Electronic Notice</U></B>&rdquo;) shall be deemed written notice for purposes of this <U>Section 12</U> if sent to the electronic
mail address specified by the receiving party under separate cover. Electronic Notice shall be deemed received at the time the party sending
Electronic Notice receives confirmation of receipt by the receiving party (other than pursuant to auto-reply). Any party receiving Electronic
Notice may request and shall be entitled to receive the notice on paper, in a nonelectronic form (&ldquo;<B><U>Nonelectronic Notice</U></B>&rdquo;)
which shall be sent to the requesting party within ten (10) days of receipt of the written request for Nonelectronic Notice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">13. <U>Successors and Assigns</U>.
This Agreement shall inure to the benefit of and be binding upon the Company and the Sales Agent and their respective successors and permitted
assigns and, as to <U>Sections 5(b)</U> and <U>9</U>, the other indemnified parties specified therein. References to any of the parties
contained in this Agreement shall be deemed to include the successors and permitted assigns of such party. Nothing in this Agreement,
express or implied, is intended to confer upon any other person any rights, remedies, obligations or liabilities under or by reason of
this Agreement, except as expressly provided in this Agreement. Neither party may assign its rights or obligations under this Agreement
without the prior written consent of the other party; <I>provided</I>, <I>however</I>, that the Sales Agent may assign its rights and
obligations hereunder to an affiliate of the Sales Agent without obtaining the Company&rsquo;s consent.</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">14. <U>Adjustments for Share
Splits</U>. The parties acknowledge and agree that all share-related and ADS-related numbers contained in this Agreement shall be adjusted
to take into account any share split, share dividend, change in ratio of the Ordinary Shares to ADSs or similar event effected with respect
to the Ordinary Shares or ADSs.</P>

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

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

<!-- Field: Page; Sequence: 25; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">15. <U>Entire Agreement; Amendment;
Severability</U>. This Agreement (including all schedules and exhibits attached hereto and Placement Notices issued pursuant hereto) and
any other writing entered into by the parties relating to this Agreement constitutes the entire agreement and supersedes all other prior
and contemporaneous agreements and undertakings, both written and oral, among the parties hereto with regard to the subject matter hereof.
Neither this Agreement nor any term hereof may be amended except pursuant to a written instrument executed by the Company and the Sales
Agent. In the event that any one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid,
illegal or unenforceable as written by a court of competent jurisdiction, then such provision shall be given full force and effect to
the fullest possible extent that it is valid, legal and enforceable, and the remainder of the terms and provisions herein shall be construed
as if such invalid, illegal or unenforceable term or provision was not contained herein, but only to the extent that giving effect to
such provision and the remainder of the terms and provisions hereof shall be in accordance with the intent of the parties as reflected
in this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">16. <U>Applicable Law; Consent
to Jurisdiction</U>. This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of New York,
without regard to the principles of conflicts of laws. Each party hereby irrevocably submits to the non-exclusive jurisdiction of the
state and federal courts sitting in the City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection
with any transaction contemplated hereby, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any
claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient
forum or that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of process
and consents to process being served in any such suit, action or proceeding by mailing a copy thereof (certified or registered mail, return
receipt requested) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute
good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve
process in any manner permitted by law.</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">17. <U>Appointment of Agent
for Service</U>. The Company hereby irrevocably appoints Cogency Global Inc. as its agent for service of process in any suit, action or
proceeding described in Section 16 and agrees that service of process in any suit, action or proceeding may be made upon it at the office
of such agent. The Company waives, to the fullest extent permitted by law, any other requirements of or objections to personal jurisdiction
with respect thereto. The Company represents and warrants that such agent has agreed to act as the Company&rsquo;s agent for service of
process, and the Company agrees to take any and all action, including the filing of any and all documents and instruments, that may be
necessary to continue such appointment in full force and effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">18. <U>Waiver of Jury Trial</U>.
The Company and the Sales Agent each hereby irrevocably waives any right it may have to a trial by jury in respect of any claim based
upon or arising out of this Agreement or any transaction contemplated hereby.</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">19. <U>Absence of Fiduciary
Relationship</U>. The Company acknowledges and agrees that:</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">(a) the Sales Agent is acting
solely as agent in connection with the sale of the Placement ADSs contemplated by this Agreement and the process leading to such transactions,
and no fiduciary or advisory relationship between the Company or any of its respective affiliates, stockholders (or other equity holders),
creditors or employees or any other party, on the one hand, and the Sales Agent, on the other hand, has been or will be created in respect
of any of the transactions contemplated by this Agreement, irrespective of whether the Sales Agent has advised or is advising the Company
on other matters, and the Sales Agent has no obligation to the Company with respect to the transactions contemplated by this Agreement,
except the obligations expressly set forth in this Agreement;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) the Company is capable
of evaluating and understanding and understands and accepts the terms, risks and conditions of the transactions contemplated by this Agreement;</P>

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

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

<!-- Field: Page; Sequence: 26; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(c) the Sales Agent has not
provided any legal, accounting, regulatory or tax advice with respect to the transactions contemplated by this Agreement, and the Company
has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate;</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">(d) the Company has been advised
and is aware that the Sales Agent and its affiliates are engaged in a broad range of transactions which may involve interests that differ
from those of the Company and that the Sales Agent has no obligation to disclose such interests and transactions to the Company by virtue
of any fiduciary, advisory or agency relationship; and</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">(e) the Company waives, to
the fullest extent permitted by law, any claims it may have against the Sales Agent, for breach of fiduciary duty or alleged breach of
fiduciary duty and agrees that the Sales Agent shall have no liability (whether direct or indirect, in contract, tort or otherwise) to
the Company in respect of such a fiduciary claim or to any person asserting a fiduciary duty claim on behalf of or in right of the Company,
including stockholders, partners, employees or creditors of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">20. <U>Use of Information</U>.
The Sales Agent may not provide any information gained in connection with this Agreement and the transactions contemplated by this Agreement,
including due diligence, to any third party other than its legal counsel advising it on this Agreement unless expressly approved by the
Company in writing.</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">21. <U>Counterparts</U>. This
Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile transmission.</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">22. <U>Effect of Headings;
Knowledge of the Company</U>. The section and Exhibit headings herein are for convenience only and shall not affect the construction hereof.
All references in this Agreement to the &ldquo;knowledge of the Company&rdquo; or the &ldquo;Company&rsquo;s knowledge&rdquo; or similar
qualifiers shall mean the actual knowledge of the directors and officers of the Company, after due inquiry.</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">23. <U>Definitions</U>. As
used in this Agreement, the following term has the meaning set forth below:</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">(a) &ldquo;<I>Applicable Time</I>&rdquo;
means the date of this Agreement, each Representation Date, each date on which a Placement Notice is given, each Point of Sale, and each
Settlement Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>[Remainder of Page Intentionally Blank]</B></P>

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

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

<!-- Field: Page; Sequence: 27; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 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: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">If the foregoing correctly
sets forth the understanding between the Company and the Sales Agent, please so indicate in the space provided below for that purpose,
whereupon this letter shall constitute a binding agreement between the Company and the Sales Agent.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>TURBO ENERGY, S.A. </B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="width: 4%; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="width: 31%; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ <I>Mariano Soria</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Mariano Soria</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>ACCEPTED as of the date first-above written:</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>A.G.P./ALLIANCE GLOBAL PARTNERS</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><I>/s/
Thomas J. Higgins</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Thomas J. Higgins</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Managing Director</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

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

<!-- Field: Page; Sequence: 28 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><U>SCHEDULE 1</U></B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.75in; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">From:</FONT></TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Turbo Energy, S.A. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">To:</FONT></TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">A.G.P./Alliance Global Partners</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Attention: [&#9679;]</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Subject:</FONT></TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Placement Notice</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Date:</FONT></TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">[&#9679;], 202[&#9679;]</FONT></TD></TR>
  </TABLE>
<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">Ladies and Gentlemen:</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">Pursuant to the terms and
subject to the conditions contained in the Sales Agreement (the &ldquo;<B><U>Sales Agreement</U></B>&rdquo;) between Turbo Energy, S.A.,
a company incorporated under the laws of the Kingdom of Spain (the &ldquo;<B><U>Company</U></B>&rdquo;), and A.G.P./Alliance Global Partners
(the &ldquo;<B><U>Sales Agent</U></B>&rdquo;), dated March, [&#9679;], 2026, the Company hereby requests that the Sales Agent sell up
to [&#9679;] of the Company&rsquo;s Ordinary Shares, par value &euro;0.05 per share, represented by American Depositary Shares (the &ldquo;<B><U>ADSs</U></B>&rdquo;),
with each ADS representing five Ordinary Shares (the &ldquo;<B><U>Placement ADSs</U></B>&rdquo;), at a minimum market price of $[&#9679;]
per share, during the time period beginning [month, day, time] and ending [month, day, time] [and with no more than [&#9679;] Placement
ADSs sold in any one Trading Day].</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company also hereby authorizes
the Agent to sell Placement ADSs during Pre- &amp; Post-Market Trading under the parameters listed above or as may be communicated from
time to time:&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">[The Company may include such
other sale parameters as it deems appropriate.]</P>

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

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

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

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

<!-- Field: Page; Sequence: 29 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><U>SCHEDULE 2</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Notice Parties</U></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"><U>THE COMPANY</U></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">Mariano Soria </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>THE SALES AGENT</U></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">Alex Yelensky </P>

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

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

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

<!-- Field: Page; Sequence: 30 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><U>SCHEDULE 3</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Compensation</U></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">The Company shall pay to the Sales Agent in cash,
upon each sale of Placement ADSs through the Sales Agent pursuant to this Agreement, an amount equal to 3.0% of the aggregate gross proceeds
from each sale of Placement ADSs.*</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">* The foregoing rate of compensation shall not
apply when the Sales Agent purchases Placement ADSs on a principal basis, in which case the Company may sell the Placement ADSs to the
Sales Agent as principal at a price to be mutually agreed upon by the Company and the Sales Agent at the relevant Point of Sale pursuant
to the applicable Placement Notice (it being hereby acknowledged and agreed that the Sales Agent shall be under no obligation to purchase
Placement ADSs on a principal basis pursuant to the Sales Agreement, except as otherwise agreed by the Sales Agent and the Company in
writing and expressly set forth in a Placement Notice).</P>

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


<!-- Field: Page; Sequence: 31 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><U>SCHEDULE 4</U></B></P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; width: 38%">
    <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>Name of Subsidiary</B></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 38%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Jurisdiction of</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Organization</B></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 20%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Percentage&nbsp;of<BR>
Ownership</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Turbo Energy Solutions S.L.U. (former name: IM2 Proyecto 35 S.L.U.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Kingdom of Spain</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Smart Solar Solutions, SPA</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Chile</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">33%</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Turbo Energy USA, LLC</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Delaware, USA</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
  </TABLE>

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

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

<!-- Field: Page; Sequence: 32 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Exhibit 7(m)</U></B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>The undersigned, the duly
qualified and appointed _____________________ of Turbo Energy, S.A., a company incorporated under the laws of the Kingdom of Spain (the
&ldquo;<B><U>Company</U></B>&rdquo;), does hereby certify in such capacity and on behalf of the Company, pursuant to <U>Section 7(m)</U>
of the Sales Agreement, dated [ ], 20[ ] (the &ldquo;<B><U>Sales Agreement</U></B>&rdquo;), between the Company and A.G.P./Alliance Global
Partners, that:</I></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">(i)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the representations and warranties of the Company in <U>Section 6</U> of the Sales Agreement (A) to the extent such representations and warranties are subject to qualifications and exceptions contained therein relating to materiality or Material Adverse Change, are true and correct on and as of the date hereof with the same force and effect as if expressly made on and as of the date hereof, except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date, and (B) to the extent such representations and warranties are not subject to any qualifications or exceptions, are true and correct in all material respects as of the date hereof as if made on and as of the date hereof with the same force and effect as if expressly made on and as of the date hereof except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date; and;</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: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the Company has complied with all agreements and satisfied all conditions on its part to be performed or satisfied pursuant to the Sales Agreement at or prior to the date hereof;</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: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">as of the date hereof, (i) the Registration Statement does not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading, (ii) the Prospectus does not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading and (iii) no event has occurred as a result of which it is necessary to amend or supplement the Registration Statement or the Prospectus in order to make the statements therein not untrue or misleading for clauses (i) and (ii) above, respectively, to be true and correct;</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: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">(iv)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">there has been no Material Adverse Change since the date as of which information is given in the Prospectus, as amended or supplemented;</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: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">(v)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the Company will not be in possession of any material non-public information at the time of delivery of any Placement Notice and/or as long as such Placement Notice is effective; and</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: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt"><FONT STYLE="font-size: 10pt">(vi)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the aggregate offering price of the Placement ADSs that may be issued and sold pursuant to the Sales Agreement and the maximum number or amount of Placement ADSs that may be sold pursuant to the Sales Agreement have been duly authorized by the Company&rsquo;s board of directors or a duly authorized committee thereof.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Terms used herein and not defined herein have
the meanings ascribed to them in the Sales Agreement.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 5%"><FONT STYLE="font-size: 10pt">Dated:</FONT>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; width: 35%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:</FONT>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

<!-- Field: Page; Sequence: 33; Options: Last -->
    <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"></P></DIV>
    <!-- Field: /Page -->

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












</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>ea028294301_ex5-1img1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 ea028294301_ex5-1img1.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"  S 'X# 2(  A$! Q$!_\0
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M))3<:2:^)2T3WM?MO9?D^A32E5:Z.-KK:]N^U_U/AS_@HG^U]^VE_P $B?\
M@G=^R#_P3@3XQS7'[3_C3P3XU\5?%3XS^%]7U+4M5\ _"2?QUKMOX,^&WP\\
M6:I%;:LEZL,ESX:F\716UG?:)HOA1M/\,FTCU"QU'3^"_9W\*?LC_$[_ ((M
M^)!+^SE\=OBK_P %!?&^A_$WQEX7^/7AK]E']HSQW\0+_P"+^F>.-;'@!M _
M:7\.?#K5],73+/2]-T;2-2L[/QU%H6S^T[#78#J,FH,WZ@?\'*O_  2W^+_[
M8G@KX9_M0?LZ>&]1\?\ Q,^!F@:QX0\;_#3186N_$WBSX::AJ3:]8ZMX/TZ-
M3/K.M^#]9N-8FN_#MF)-3UG2M=GFTN&YO=(BL+ZI_P $.O\ @IG^QS^SU_P3
MR^'?[/7[2OQK\/? OXV?!+Q#\1]!\3?#'XBZ?XCT'QG/:ZOX[U_Q3HMUX?\
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M6:T=6.(P:KUL-"3][EJ\ZBG:^ECU,T^B%PSQ]*>:_1@\;_#_ ,4<OQ/-6P_
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#!__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
