Item 1.01 Entry into a Material Definitive Agreement.

On December 30, 2021, EZ Raider Global, Inc., a Nevada corporation ("EZ Global"), which is a wholly-owned subsidiary of EZRaider Co., a Florida corporation (the "Company"), and D.S. Raider Ltd., a company incorporated under the laws of Israel ("D.S Raider"), that designs, manufactures and sells electric-powered, tactical manned vehicles known as "EZRaider Vehicles," entered into a memorandum of understanding (the "Memorandum"), which amended certain terms of the Share Purchase Agreement EZ Global, D.S Raider, and the shareholders of D.S Raider entered into on August 31, 2021 (as previously amended on March 30, 2021 and August 31, 2021, the "Purchase Agreement"), pursuant to which, among other things, EZ Global had the exclusive right to acquire 100% of the capital stock of D.S Raider on or before December 31, 2021 (the "Exclusivity Date"), for an aggregate purchase price of $30,000,000. EZ Global previously purchased approximately 6.7% of the issued and outstanding capital stock of D.S Raider (295,947 Ordinary Shares), for an aggregate purchase price of $3,850,000.

Pursuant to the Memorandum, in consideration for D.S Raider's agreement to extend the Exclusivity Date to March 15, 2022, EZ Global agreed that, by December 31, 2021, it would secure $1,600,000 of purchase orders for EZRaider Vehicles for the 2022 year (the "Purchase Orders"). EZ Global is required to pay DS Raider a down payment of $800,000 (the "Down Payment"), representing 50% of the purchase price for the Purchase Orders, no later than January 17, 2022. Upon securing the Purchase Orders and making the Down Payment, EZ Global's right to be the exclusive distributer of EZRaider Vehicles in the United States, which was granted to EZ Global's wholly-owned subsidiary, EZ Raider LLC, a Washington limited liability company ("EZ LLC"), pursuant to the Authorized Exclusive Distribution Agreement EZ LLC and D.S Raider entered into on September 12, 2019 (as previously amended on September 2, 2021, the "Distribution Agreement"), will be extended through January 31, 2023. However, if (a) the Purchase Orders are not secured, (b) the Down Payment is not made, or (c) EZ Global does not consummate any of the Purchase Orders previously placed, D.S Raider has the right to terminate the Distribution Agreement in its sole discretion. Subject to the consummation of EZ Global's acquisition of D.S Raider by March 15, 2022, EZ Global may thereafter change or cancel any of the Purchase Orders in its sole discretion.

The parties also agreed that Michael (Miki) Bar, the retiring Chief Executive Officer of D.S Raider, would be appointed as a member of the Company's management.





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