The rights plan is designed to allow all stockholders the opportunity to realize the value of their investment, is intended to ensure that the Board remains in the best position to perform its fiduciary duties, and enables all stockholders to receive fair and equal treatment.

Under the rights plan, the rights will become exercisable if an entity, person or group acquires beneficial ownership of 10% or more of Blaize's common shares. In the event the ownership threshold is crossed and the rights become exercisable, each right will entitle its holder (other than the person, entity or group triggering the rights plan, whose rights will become void and will not be exercisable) to purchase shares of common stock at a 50% discount to the then-current market price, or the Company may exchange each right held by such holders for one share of common stock.

Under the rights plan, any person who beneficially owns 10% or more of Blaize's common shares at the time the plan is adopted may continue to own the shares but may not acquire any additional shares without triggering the rights plan.