SPEAR Investments I B : Press Release. Results of Extension EGM. 13 Jan 2023

PRESS RELEASE

AMSTERDAM - 13 January 2023 17:00 CET / SPEAR Investments I B.V. (the Company) announces that the Company's general meeting of shareholders adopted the proposal which was tabled at today's extraordinary general meeting, namely to approve the New Extension Structure.

The Company's board of directors is currently considering the number of shares tendered for repurchase during the Pre-Extension Repurchase Period, and on the basis of this consideration will determine whether or not to exercise the Board Non-Extension Right. This right will lapse if it has not been exercised by the end of 14 February 2023.

If the Board Non-Extension Right lapses without having been exercised, the New Extension Structure will be implemented: (i) the Business Combination Deadline will be extended by the First Extension and the board will be entitled to further extend the Business Combination Deadline pursuant to its Board Extension Right; (ii) the Share Repurchase Arrangement will be revised as contemplated by the Revised Share Repurchase Arrangement and shares tendered as above will be repurchased in terms of the Revised Share Repurchase Arrangement on 15 February 2023 (further information on timing of payment can be found in our press release on 28 December 2022, as available on our website at www.spearinvestments.com/investor-relations/); and (iii) the amendment of the articles of association of the Company, as contemplated by the New Extension Structure, will become effective.

If the board exercises its Board Non-Extension Right, the New Extension Structure will not be implemented: (i) the Business Combination Deadline will not be extended; (ii) shares tendered for repurchase during the Pre- Extension Repurchase Period will not be repurchased; and (iii) the amendment of the articles of association of the Company, as contemplated by the New Extension Structure, will not become effective.

If the Board exercises its Board Non-Extension Right on or prior to 14 February 2023, the Company will announce this by press release by the end of the day on which the board has exercised such right or as soon as possible thereafter. If the Board Non-Extension Right lapses without having been exercised, the Company will announce this by press release on 15 February 2023.

Further information can be found in the shareholder circular on our website at www.spearinvestments.com/investor-relations/.

About SPEAR Investments I B.V.

SPEAR was formed in order to identify and become a valuable partner to a fast-growing European business, and to support this company in the accelerated achievement of its goals. SPEAR's multi-skilled team has many decades of experience in successfully supporting the listings and ongoing growth of public companies, as well as in providing sector-specific, operational, and capital-market related support for leading global businesses.

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+ 31 (0) 208 946 270

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