Period Start date Date Month Year Year end Days Tranche # Amount Interest 18-19

18-19 7/27/2018 27 7 2018 7/27/2019 366 1 100,000 6,016

18-19 100,000 6,016

19-20 7/27/2019 27 7 2019 7/26/2020 366 1 106,016

19-20 5/27/2019 27 5 2019 5/26/2020 366 2 30,000
136,016

20-21 7/26/2020 26 7 2020 7/26/2021 366 1 112,395

20-21 5/26/2020 26 5 2020 5/26/2021 366 2 31,805
20-21 2/27/2020 27 2 2020 2/26/2021 366 3 30,000
174,200

21-22 5/26/2021 26 5 2021 5/26/2022 366 2 33,718

21-22 2/26/2021 26 2 2021 2/26/2022 366 3 31,805
65,523

22-23 2/26/2022 26 2 2022 2/26/2023 366 3 33,718

33,718
Interest 19-20 Interest 20-21 Interest 21-22 Interest 22-23 Total Balance @Yr end
106,016
106,016

6,378 112,395
1,805 31,805
8,183 144,200

6,762 119,157 Maturity

1,914 33,718
1,805 31,805
10,481 184,680

2,029 35,747 Maturity

1,914 33,718
3,942 69,466

2,029 35,747 Maturity

2,029 35,747
 Convertible loan 1
Principal € 100,000
Interest 6%
ND = non-dillution Accrued € 19,157
CL = convertible loan Discount 20%
Fillable cell Cap € 2,000,000

d.d. 26-07-2021
Valuation: € 250,000
Shareholder # of shares % of shares Conv. debt
Holding 1 3,500 35.0%
Holding 2 3,500 35.0%
Holding 3 500 5%
Issued SARs
SHARE 1 2,500 25% € 184,680
Share coop 2,500 25%
CLA1 € 119,157
CLA2 € 33,718
CLA3 € 31,805
Non-dillutive
Smart money € -
MT shares issue
Investment
Informals group
Share purchase
Share issue
Externa
Series A investor
Total 10,000 100% € 184,680

SHARES FOUNDER TEAM 75.0%

Convertible loan 2+3 Loan conversion 1 7/27/2021
Principal € 30,000 Valuation € 2,000,000 DONE
Interest 6% Loan conversion 2 5/27/2022
Accrued € 5,747 Valuation € 1,600,000
Discount 20% Loan conversion 3 2/27/2023
Cap € 2,000,000 Valuation € 1,600,000
Int. Repay No

d.d. 27-7-2021 Post investment (pre-ND, after conversion)

Current Cap Table Valuation: € 2,000,000
# of shares % of shares Conv. debt # of shares % of shares % - SARs
3,500 33.0% 3,500 25.6% 25.5%
3,500 33.0% 3,500 25.6% 25.5%
500 4.7% 500 3.7% 3.6%
17 0.1%
3,095 29.2% € 65,523 3,528 25.8% 25.8%
2,500 23.6% 2,500 18.3% 18.3%
595 5.6% 595 4.4% 4.4%
€ 33,718 223 1.6% 1.6%
€ 31,805 210 1.5% 1.5%
0.0% 0.0%
€ - 265 1.9% 1.9%
- 0.0% 0.0%
265 1.9% 1.9%
1,060 7.7% 7.7%
- 0.0% 0.0%
1,060 7.7% 7.7%
1,324 9.7% 9.7%

10,595 100% € 65,523 13,677 100% 100%

70.8% 56.8%
 Pre-Seed Seed Series A
SARs issued 85 400 1,500
SAR % reserved 20% 15% 10%

Non-dilution
Initial equity 25%

Post non-dilution transfer Series A Series B / Exit

Valuation: € 2,000,000 Valuation: € 7,500,000 Valuation:
# of shares % of shares % - SARs # of shares % of shares % - SARs # of shares
3,071 22.5% 22.2% 3,071 18.0% 17.6% 3,071
3,071 22.5% 22.2% 3,071 18.0% 17.6% 3,071
439 3.2% 3.2% 439 2.6% 2.5% 439
60 0.4% 150 0.9% 1,500
4,447 32.5% 32.5% 4,447 26.0% 26.0% 4,447
2,500 18.3% 18.3% 2,500 14.6% 14.6% 2,500
595 4.4% 4.4% 595 3.5% 3.5% 595
223 1.6% 1.6% 223 1.3% 1.3% 223
210 1.5% 1.5% 210 1.2% 1.2% 210
919 6.7% 6.7% 919 5.4% 5.4% 919
265 1.9% 1.9% 265 1.5% 1.5% 265
- 0.0% 0.0% - 0.0% 0.0% -
265 1.9% 1.9% 265 1.5% 1.5% 265
1,060 7.7% 7.7% 1,060 6.2% 6.2% 1,060
- 0.0% 0.0% - 0.0% 0.0% -
1,060 7.7% 7.7% 1,060 6.2% 6.2% 1,060
1,324 9.7% 9.7% 1,324 7.7% 7.7% 1,324
3,419 20% 20% 3,419
13,677 100% 100% 17,096 100% 100% 17,096

50.1% 40.0%
 Proposed Seed investment Informals
Pre-money valuation € 2,000,000 Informal 1 € 50,000 2.0%
Investment € 500,000 Informal 2 € 50,000 2.0%
Share 1 € - Informal 3 € 50,000 2.0%
Smart Money € 50,000 Informal 4 € 50,000 2.0%
Informals group € 200,000 € 200,000 8%
External € 250,000
Proposed date 1/31/2022

Series B / Exit Pay-out

€ 25,000,000 € 25,000,000 € 23,500,000 € 23,000,000 € 22,950,000 € 22,750,000
% of shares % - SARs Pref 1 Pref 2 Pref 3 Pref 4 Pref 5
18.0% 13.9% € 405,334
18.0% 13.9% € 405,334
2.6% 2.0% € 57,905
8.8% € 256,427
26.0% 26.0% € 38,826 € 200,000
14.6% 14.6%
3.5% 3.5%
1.3% 1.3%
1.2% 1.2%
5.4% 5.4%
1.5% 1.5% € 46,117 € 50,000 € -
0.0% 0.0%
1.5% 1.5%
6.2% 6.2% € 184,469
0.0% 0.0%
6.2% 6.2%
7.7% 7.7% € 230,587
20% 20% € 1,500,000
100% 100% € 1,500,000 € 500,000 € 50,000 € 200,000 € 1,125,000

40.0%
 Series A round Exit
Pre-money valuation € 6,000,000 Valuation
Investment € 1,500,000 Liq.Pref. Series A
Post-money valuation € 7,500,000 Liq.Pref. Seed
Proposed date 6/30/2023 AGIO Smart Money
Liq.Pref. Informals
Liq.Pref. Share 1
Catch-up Founders
Proposed date

€ 21,625,000
Remain Total ROI
€ 2,999,184 € 3,404,518 3891%
€ 2,999,184 € 3,404,518 3891%
€ 428,455 € 486,360 3891%
€ 1,897,381 € 2,153,808
€ 5,625,338 € 5,864,165 2372%

€ 335,046 € 431,163 862%

€ 1,340,183 € 1,524,653 762%

€ 1,675,229 € 1,905,816 762%

€ 4,325,000 € 5,825,000 388%
€ 21,625,000 € 25,000,000
Exit
€ 25,000,000
€ 1,500,000
€ 500,000
€ 50,000
€ - No
€ 200,000 € 200,000
€ 1,125,000 € 1,125,000
7/27/2026
 IRR Investment/cash Date
Holding 1 58% € -87,500 7/27/2018
€ 3,404,518 7/27/2026

Share 1 53% € -62,500 7/27/2018

€ -100,000 7/27/2018
€ -30,000 5/27/2019
€ -30,000 2/27/2020
€ 5,864,165 7/27/2026

Smart money 62% € -50,000 1/31/2022

€ 431,163 7/27/2026

Informals group 57% € -200,000 1/31/2022

€ 1,524,653 7/27/2026

External 57% € -250,000 1/31/2022

€ 1,905,816 7/27/2026

Series A investor 55% € -1,500,000 6/30/2023

€ 5,825,000 7/27/2026