SurgePays Inc (SURG)

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HOW MONTHLY LAWSUIT SETTLEMENT SHARE ARE CALCULATED

n satisfaction of the Payment, the Company will issue to AltCorp a monthly payment of Common Stock, for a period of thirty-two (32) months commencing on January 8,
2021, in amounts equal to $100,000, calculated based on the volume weighted average price of the Common Stock during the ten (10) trading days immediately preceding the
three (3) trading days of the first (1st) trading day of each calendar month. The first share issuance, which equaled less than one percent (1%) of the shares of Common Stock
outstanding (based on the amount of shares of Common Stock outstanding reported on the Company’s Quarterly Report on Form 10-Q filed on November 16, 2020), was issued
to AltCorp on January 13, 2021 in the amount of 850,557 shares