Digital World deposits 4.67M TMTG shares into escrow to resolve conversion ratio dispute

on March 21, 2024, Digital World entered into two escrow agreements with Odyssey Transfer and Trust Company, a Minnesota corporation, as escrow agent (the “ Escrow Agent ”), as follows: (i) an escrow agreement for the benefit of ARC (the “ ARC Escrow Agreement ”), pursuant to which TMTG deposited into escrow 3,579,480 shares of TMTG Common Stock, and (ii) an escrow agreement for the benefit of the holders of Digital World Class B Common Stock other than the Sponsor (the “ Non-ARC Class B Shareholders Escrow Agreement, ” and together with the ARC Escrow Agreement, the “ Disputed Shares Escrow Agreements ”), pursuant to which TMTG deposited into escrow 1,087,552 shares of TMTG Common Stock, which amounts represent the difference between the actual conversion ratio, determined by Digital World’s board of directors upon closing of the Business Combination (which was determined to be 1.348:1), and a conversion ratio of 2.00.