KENSINGTON CAPITAL ACQUISITION CORP. V Westbury, NY 11590 March 24, 2021Letter Agreement • June 10th, 2021 • Kensington Capital Acquisition Corp. V • Blank checks • New York
This letter agreement (this “Agreement”) is entered into as of March 24, 2021 between Kensington Capital Sponsor V LLC, a Delaware limited liability company (the “Subscriber” or “you”), and Kensington Capital Acquisition Corp. V, a Cayman Islands exempted company (the “Company,” “we” or “us”) and confirms the Company’s acceptance of the offer the Subscriber has made to purchase 7,475,000 shares of Class B ordinary shares, $0.0001 par value per share (the “Shares”), up to 975,000 of which are subject to surrender and cancellation if the underwriters of the initial public offering (“IPO”) of units (“Units”) of the Company, do not fully exercise their over-allotment option (the “Over-allotment Option”). The Company and the Subscriber’s agreements regarding such Shares are as follows:
