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22/05/2023
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These calculations are based on unaudited results of operations of the INX Limited and its subsidiaries.Subject to the conditions described in the INX Token Purchase Agreement, commencing in calendar year 2021, each INX Token held by parties otherthan the Company, shall entitle its holder to receive a pro rata portion of an aggregate amount which equals 40% of INX Limited’s cumulative AdjustedOperating Cash Flow, net of Adjusted Operating Cash Flows that have already formed a basis for a prior distribution (such amount, the “DistributableAmount”).
The distribution to holders of the INX Tokens will be based on a final calculation of our cumulative Adjusted Operating Cash Flow and the pro rataportion of the Distributable Amount per INX Token. These final calculations will be provided at the same time that we file our annual report containingour audited financial statements, which may be provided up to 120 days after the last day of our fiscal year (December 31). We will publicly disclose thefinal calculations by filing such information on a Form 6-K, including such information within our Form 20-F or other annual report, issuing a pressrelease and including the information on our website.