Third Amendment to the REVOLVING CREDIT AGREEMENT

WISeKey International Holding AG. of General-Guisan-Strasse 6, Zug, CH-6300, Switzerland ("LENDER") and WISeKey Semiconductors SAS (formerly named Vault-IC SAS) of Arteparc Bachasson,Bât A, Rue de la carrière de Bachasson, 13590 Meyreuil, France, corporation ("BORROWER") enter into this Third amendment to Revolving Credit Agreement (this “Amendment”) as of November 3^rd, 2022 (the “EFFECTIVE DATE”).

Background

On October 1st 2016 the Lender and the Borrower signed a Revolving Credit Agreement (the "AGREEMENT") beginning on October 1^st 2016 and ending on December 31^st 2017, subsequently amended on November 1^st 2017 (the “FIRST AMENDMENT”) and on March 16^th 2021 (the “SECOND AMENDMENT”.)

Both parties now wish to amend the interest charged on the unpaid principal as stated in Section 2.2 with effect from 1^st October 2022, being the new rate of interest (“NEW INTEREST”).

NOW THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Lender and the Borrower hereby agree as follows:

Terms and Conditions

1. Amendments to Revolving Credit Agreement

A. Section 2.2 is amended to read as follows:

2.2 INTEREST. Borrower's indebtedness to Lender under the Loan advanced by Lender under this Agreement will be subject to an interest on unpaid principal at a rate equal two and a half percent (2.5%) per annum (calculated on the basis of a 365/360-day year) compounded annually.

2. General Terms

A. except as amended hereby, all terms and conditions of the Agreement remain in full force and effect.

IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment as of the Effective Date.

Signature in two (2) originals, one (1) one for each party are on the next page:

************

WISeKey Semiconductors SAS (formerly Vault-IC SAS) Arteparc Bachasson, Bât A Rue de la carrière de Bachasson 13590 Meyreuil France	WISeKey International Holding AG General-Guisan-Str.6 CH-6300 Zug Switzerland
Signature: /s/ Peter Ward /s/ Bernard Vian __________________________________	Signature: /s/ Peter Ward /s/ Carlos Moreira ____________________________________
Printed Name: Peter Ward / Bernard Vian ___________________________________	Printed Name: Peter Ward / Carlos Moreira ___________________________________
Title: President / General Manager ___________________________________	Title: CFO / CEO ____________________________________