System1, Inc. — Director's Dealing 2022

Feb 1, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: System1, Inc. (SST)
CIK: 0001805833
Period of Report: 2022-01-27

Reporting Person: Kazerani Moujan (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-01-27	Class A Common Stock	A	75612	—	Acquired	75612	Indirect

Footnotes

F1: Received in connection with the business combination (the "Business Combination") among System1, Inc., (f/k/a Trebia Acquisition Corp., (the "Company"), S1 Holdco, LLC ("S1 Holdco"), Orchid Merger Sub I, Inc. ("Merger Sub I"), Orchid Merger Sub II, LLC ("Merger Sub II" and, together with Merger Sub I, the "Merger Subs"), System1 SS Protect Holdings, Inc. ("Protected") and the other parties signatory to that certain business combination agreement, dated as of June 28, 2021 (as amended on November 30, 2021, January 10, 2022 and January 25, 2022).

F2: Reflects shares held by Carbon Investments, LLC. Moujan Kazerani is a member and officer of Carbon Investments, LLC. Ms. Kazerani disclaims beneficial ownership of the shares except to the extent of her pecuniary interest therein.