CONVERTIBLE NOTE PURCHASE AGREEMENT
TH International Ltd
CERTAIN PORTIONS OF THE EXHIBIT THAT ARE NOT MATERIAL AND IS THE TYPE OF INFORMATION THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL HAVE BEEN REDACTED PURSUANT TO ITEM 601(b)(10)(iv) OF REGULATION S-K. [****] INDICATES THAT INFORMATION HAS BEEN REDACTED
CONVERTIBLE NOTE PURCHASE AGREEMENT
among
TH INTERNATIONAL LIMITED
and
Tim Hortons Restaurants International GmbH
Dated June 9, 2026
Table of Contents
Definitions and Interpretation.
1
1.1
Definitions.
1
1.2
Interpretation.
12
Purchase and Sale of the Notes.
13
2.1
Purchase and Sale of the Notes.
13
2.2
Use of Proceeds.
15
2.3
Further Subscriptions
15
Closing, Payment and Delivery.
15
3.1
Initial Closing.
15
3.2
Initial Closing Deliveries of the Company.
16
3.3
[Reserved].
16
3.4
Initial Closing Deliveries of THRI. .
16
3.5
Second Closing, Third Closing and Fourth Closing.
16
3.6
Second Closing, Third Closing and Fourth Closing Deliveries of the Company.
16
3.7
…