Item 4 — Purpose of Transaction
The Reporting Person acquired the Ordinary Shares beneficially owned by him for investment purposes and intends to review his investment in the Issuer on a continuing basis. The Reporting Person is dissatisfied with the Issuer's performance and the resulting impact on shareholder value. The Reporting Person intends to engage in discussions with the Issuer's management and Board of Directors (the "Board"), as well as other shareholders and interested parties, concerning the Issuer's business, operations, financial performance, strategy, management, corporate governance, Board composition and other matters relating to the Issuer. In particular, the Reporting Person opposes the proposed increase in the Issuer's authorized share capital from 150,000,000 to 450,000,000 Ordinary Shares described in the Issuer's proxy statement furnished to the Securities and Exchange Commission on October 28, 2026, for the special general meeting of shareholders scheduled for November 18, 2026. The Reporting Person is concerned about the scale of the proposed increase, its potential to facilitate substantial further dilution of existing shareholders, and the Issuer's financing strategy and capital allocation in light of its performance and the decline in the trading price of its Ordinary Shares. The Reporting Person currently intends to vote against that proposal and may communicate with the Issuer and other shareholders regarding his opposition. The Reporting Person also intends to request that the Issuer refrain from issuing additional voting shares before the November 2, 2026 record date for that meeting. The Reporting Person is concerned that an issuance immediately before the record date could materially alter the voting composition of the meeting and dilute existing shareholders' voting influence, particularly if accompanied by arrangements or economic incentives connected with approval of the proposals. The Reporting Person may seek information regarding any such issuance and any related arrangements and may consider appropriate legal action to protect shareholder rights. In connection with its communications with the Issuer, the Reporting Person may make recommendations or proposals concerning the Issuer's business, operations, strategy, management and corporate governance, including potential changes to the composition, size or leadership of the Board and/or the Issuer's management. The Reporting Person may also consider, propose, support or oppose the appointment, election or removal of directors, identify or recommend potential director candidates, nominate candidates for election to the Board, submit shareholder proposals, solicit proxies or otherwise seek shareholder support for any such actions, including through a contested election of directors, in each case subject to applicable law and the Issuer's organizational documents. The Reporting Person may communicate with other shareholders and interested parties regarding any of the foregoing matters and may consider coordinating or acting together with other shareholders in connection with potential actions concerning the Issuer, subject to applicable law. Depending on various factors, including the outcome of the discussions described above, the Issuer's financial condition, business, operations and prospects, actions taken by the Issuer's management and Board, market conditions and other factors that the Reporting Person may deem relevant, the Reporting Person may from time to time acquire additional securities of the Issuer, dispose of some or all of the securities beneficially owned by him, or consider, formulate or pursue plans or proposals relating to any of the matters described in paragraphs (a) through (j) of Item 4 of Schedule 13D. As of the date hereof, has not identified any particular candidates for nomination to the Board. Except as described herein, the Reporting Person has no present definitive plans or proposals relating to any of the matters described in paragraphs (a) through (j) of Item 4 of Schedule 13D. The Reporting Person reserves the right to review or reconsider his position and to formulate, modify or pursue plans or proposals with respect to any of the foregoing matters at any time, subject to applicable law.