Certain Options of Red Cat Holdings, Inc. are subject to a Lock-Up Agreement Ending on 29-JUL-2021. These Options will be under lockup for 91 days starting from 29-APR-2021 to 29-JUL-2021. Details: The Company, each of its directors and officers and 5% or greater holders of the Company’s outstanding shares of common stock as of the date of the prospectus, have agreed for a period of (i) six months after the date of the prospectus in the case of directors and officers and (ii) three months after the date of the prospectus in the case of the Company and the 5% or greater holders of the Company’s outstanding common stock not to offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend or otherwise transfer or dispose of any shares of common stock or other capital stock or any securities convertible into or exercisable or exchangeable for common stock without the prior written consent of the representative.