SUBSCRIPTION AGREEMENT

This Subscription Agreement pertains to the offering by BEQUEST BONDS I, Inc., a

Delaware corporation (the “Company”), of Series A Bonds (the “Bonds”) for an aggregate

offering of up to a Seventy-Five Million Dollars ($75,000,000) (the “Offering”). The minimum

subscription that the Company will accept from any investor is One Thousand Dollars ($1,000)

for Bonds. This Offering is being conducted pursuant to Regulation A of Section 3(6) of the

Securities Act of 1933, as amended, (the “Securities Act”), for Tier 2 offerings.

The undersigned, intending to be legally bound, hereby offers to purchase the following

Bonds:

Class A (5% interest; immediately redeemable): ______ Bonds ($1,000 min)

Class B (6% interest; six-month maturity): ______ Bonds ($1,000 min)

Class C (7% interest; one-year maturity): ______ Bonds ($1,000 min)

Class D (7.5% interest; five-year maturity): ______ Bonds ($20,000 min)

Class E (7% interests; five-year maturity): ______ Bonds ($5,000 min)

Class F (8% interest; five-year maturity): ______ Bonds ($50,000 min)

Total Purchase Amount: ______________________________.

Name of Purchaser: __________________________________.

The Company will be deemed to have accepted this offer upon execution by it of the

Receipt and Acceptance attached to this Subscription Agreement. This subscription is submitted

to the Company subject to its acceptance and in accordance with, and subject to the terms and

conditions described in, this Subscription Agreement, as well as the Offering Circular, and the

Bond Agreement.

1. Investor Suitability. The Bonds may not be a suitable investment for you, and we

advise you to consult your investment, tax and other professional financial advisors prior to

purchasing the Bonds. The characteristics of the notes, including no maturity date, repayable at

your demand, redeemable by us, interest rate, lack of collateral security or guarantee, and lack of

liquidity, may not satisfy your investment objectives. The Bonds may not be a suitable

investment for you based on your ability to withstand a loss of interest or principal or other

aspects of your financial situation, including your income, net worth, financial needs, investment

risk profile, return objectives, investment experience and other factors. Prior to purchasing any

Bonds, you should consider your investment allocation with respect to the amount of your

contemplated investment in the Bonds in relation to your other investment holdings and the

diversity of those holdings.

06/05/20252. Amount and Method of Payment. The purchase price for the Bonds shall be paid

by wire transfer or tender of a certified check made payable to “BEQUEST BONDS I, INC.”

3. Acceptance of Subscription.

(a) The undersigned understands and agrees that the Company, in its sole

discretion, reserves the right to accept or reject this or any other subscription for Bonds in whole

or in part at any time prior to the Closing (as defined below) and that no subscriptions will be

binding unless and until accepted by the Company.

(b) In the event that this subscription is rejected in whole or in part, the

Company shall promptly return all or the applicable portion of the Purchase Price to the

undersigned, as the case may be, and this Subscription Agreement shall thereafter have no force

or effect except with respect to the portion, if any, of this subscription that is accepted by the

Company.

4. Restrictions on Resale or Transfer. The Bonds have not been registered under the

Securities Act or any state securities laws, and may not be sold, pledged, assigned or transferred

unless, in addition to the transfer restrictions set forth above, (i) such sale or transfer is

subsequently registered thereunder; (ii) the undersigned shall have delivered to the Company an

opinion of counsel (which opinion and counsel shall be reasonably acceptable to the Company)

to the effect that the Bonds to be sold or transferred may be sold or transferred without violating

the registration provisions of the Securities Act and any applicable state statutes; (iii) such sale or

transfer will not result in the loss of any license or regulatory approval or exemption that has

been obtained by the Company, or result in a default under or breach or termination of any

contract to which the Company is a party; and (iv) the Company is reimbursed upon request for

its reasonable expenses in connection with the transfer.

5. Representations and Warranties. The undersigned hereby acknowledges,

represents and warrants to, and agrees with, the Company as follows:

(a) The undersigned has carefully reviewed this Subscription Agreement, the

Private Placement Memorandum to which this Subscription Agreement is attached (the

“Offering Memorandum”), the Bond Agreement, and the Limited Liability Company

Operating Agreement;

(b) All documents, records and books pertaining to the Company and/or this

investment that the undersigned or his/her/its purchaser representative has requested have been

made available for inspection by the undersigned and/or his/her/its purchaser representative,

attorney, accountant and other advisor(s);

(c) The undersigned and/or his/her/its purchaser representative and advisor(s)

have had a reasonable opportunity to ask questions of and receive information and answers from

representatives of the Company concerning the Offering of the Bonds and all such questions

have been answered and all such information has been provided to the full satisfaction of the

undersigned;

(d) Other than the Offering Memorandum and the Exhibits thereto, neither the

undersigned nor his/her/its purchaser representative or investment advisors, if any, have been

furnished any offering literature and the undersigned and his/her/its purchaser representative and

advisor(s), have not relied on any such additional information in acquiring the Bonds;

(e) No oral or written representations have been made and no oral or written

information has been furnished to the undersigned or his/her/its purchaser representative or

advisor(s) in connection herewith that were in any way inconsistent with the information set

forth in this Subscription Agreement, the Offering Memorandum and the Exhibits thereto;

(f) The undersigned’s overall commitment to investments that are not readily

marketable is not disproportionate to the undersigned’s net worth and the undersigned’s

investment in the Company will not cause such overall commitment to become disproportionate

to the undersigned’s net worth;

(g) If the undersigned is a natural person, the undersigned has reached the age

of majority in the jurisdiction in which the undersigned resides and has the full right, power and

authority to enter into this Subscription Agreement, has adequate net worth and means of

providing for the undersigned’s current financial needs and personal contingencies, is able to

bear the substantial economic risks of an investment in the Bonds for an indefinite period of

time, has no need for liquidity in such investment and, at the present time, could afford a

complete loss of such investment;

(h) The address set forth below is the undersigned’s true and correct residence

(or, if not an individual, domiciliary) address;

(i) The undersigned (A) has such knowledge of, and experience in, business

and financial matters so as to enable him/her/it to utilize the information made available to the

undersigned in connection with the Offering of the Bonds in order to evaluate the merits and

risks of an investment in the Bonds and to make an informed investment decision with respect

thereto, (B) the undersigned has carefully evaluated the risks of investing and (C) has the

capacity, either alone, or with a professional advisor, to protect his/her/its own interests in

connection with a purchase of the Bonds;

(j) The undersigned is not relying on the Company with respect to the

economic considerations of the undersigned relating to this investment. Regarding such

considerations, the investor has relied on the advice of, or has consulted with, only his/her/its

own advisor(s). The undersigned recognizes that this Subscription Agreement, the Offering

Memorandum, the Bond Agreement and the Exhibits thereto and any other information furnished

by the Company does not constitute investment, accounting, legal or tax advice. The

undersigned is relying on professional advisors for such advice;

(k) The undersigned is acquiring the Bonds solely for his/her/its own account

as principal, for investment purposes only and not with a view to the resale or distribution

thereof, in whole or in part, and no other person has a direct or indirect beneficial interest in such

Bonds;

(l) The undersigned recognizes that an investment in the Bonds involves a

number of significant risks including, but not limited to, those risks explained to him/her/it by

his/her/its purchaser representative and the risk factors set forth in the Offering Memorandum.

(m) The undersigned understands that no federal or state agency has passed

upon the Bonds or made any finding or determination as to the fairness of this investment in the

Bonds.

(n) All information that the undersigned has heretofore furnished and

furnishes herewith to the Company is true, correct and complete as of the date of execution of

this Subscription Agreement.

(o) The undersigned acknowledges and agrees that the Company is under no

obligation and has no intention to apply for registration of the Bonds or comply with any

exemption from registration to permit any resale and has not represented that an attempt will be

made to register the Bonds or comply with an exemption from registration so as to permit any

resale at some future date.

(p) The foregoing representations, warranties, and agreements, together with

all other representations and warranties made or given by the undersigned to the Company in any

other written statement or document delivered in connection with the transactions contemplated

hereby, shall be true and correct in all respects on and as of the date of the Closing as if made on

and as of such date and shall survive such date. If more than one person is signing this

Subscription Agreement, each representation, warranty and undertaking herein shall be the joint

and several representations, warranty and undertaking of each such person.

6. Indemnification. The undersigned agrees to indemnify and hold harmless the

Company and the officers and directors thereof and each other person, if any, who controls the

Company, within the meaning of Section 15 of the Securities Act, against any and all loss,

liability, claim, damage and expense whatsoever (including, but not limited to, any and all

expenses reasonably incurred in investigating, preparing or defending against any litigation

commenced or threatened or any claim whatsoever) arising out of or based upon any false

representations or warranty or breach or failure by the undersigned to comply with any covenant

or agreement made by the undersigned herein or in any other document furnished by the

undersigned to the Company in connection with this transaction.

7. Additional Information. The undersigned hereby acknowledges and agrees that

the Company may make or cause to be made such further inquiry and obtain such additional

information as it may deem appropriate regarding the suitability of the undersigned as an

investor in the Bonds.

8. Binding Effect. The undersigned hereby acknowledges and agrees that, except as

provided under applicable state securities laws, the subscription hereunder is irrevocable, that the

undersigned is not entitled to cancel, terminate or revoke this Subscription Agreement or any

agreements of the undersigned hereunder and that this Subscription Agreement and such other

agreements shall survive the death or disability of the undersigned and shall be binding upon and

inure to the benefit of the parties and their heirs, executors, administrators, successors, legal

representatives and assigns. If the undersigned is more than one person, the obligations of the

undersigned hereunder shall be joint and several and the agreements, representations, warranties,

and acknowledgments herein contained shall be deemed to be made by and be binding upon each

such person and his/her/its heirs, executors, administrators, successors, legal representatives and

assigns.

9. Modification. Neither this Subscription Agreement nor any provisions hereof

shall be waived, modified, discharged, or terminated except by an instrument in writing signed

by the party against whom any such waiver, modification, discharge or termination is sought.

10. Notices. Any notice, demand or other communication that any party hereto may

be required, or may elect, to give to any other party hereunder shall be sufficiently given if (a)

deposited, postage prepaid, in a United States mailbox, stamped, registered or certified mail,

return receipt requested, addressed to such address as is set forth on the signature page hereof or

listed on the books of the Company, or (b) delivered personally at such address.

11. Counterparts. This Subscription Agreement may be executed using separate

signature pages or in any number of counterparts, and each of such counterparts shall, for all

purposes, constitute one agreement binding on all parties, notwithstanding that all parties are not

signatories to the same counterpart. This Subscription Agreement may be executed and

delivered via electronic facsimile transmission with the same force and effect as if it were

executed and delivered by the parties simultaneously in the presence of one another.

12. Entire Agreement. This Subscription Agreement contains the entire agreement of

the parties with respect to the subject matter hereof and there are no representations, covenants,

or other agreements except as stated or referred to herein.

13. Severability. Each provision of this Subscription Agreement is intended to be

severable from every other provision, and the invalidity or illegality of any provision shall not

affect the validity or legality of the remaining provisions.

14. the undersigned.

Assignability. This Subscription Agreement is not transferable or assignable by

15. Applicable Law. This Subscription Agreement shall be governed by and

construed in accordance with the laws of the State of Florida as applied to residents of that

jurisdiction executing contracts wholly to be performed therein.

16. Choice of Jurisdiction. The undersigned agrees that any action or proceeding

directly or indirectly relating to or arising out of this Subscription Agreement, any breach hereof,

or any transaction covered hereby shall be resolved, whether by arbitration or otherwise, within

the State of Florida. Accordingly, the parties consent and submit to the jurisdiction of the state

courts or the United States federal courts located in the District of Florida. The parties further

agree that any such relief whatsoever in connection with this Subscription Agreement shall be

commenced by such party exclusively in the state courts or the United States federal courts

located in the District of Florida.

17. Reimbursement. If any action or other proceeding is brought for the enforcement

of this Subscription Agreement or because of an alleged dispute, breach, default or

misrepresentation in connection with any of the provisions of this Subscription Agreement, the

successful or prevailing party or parties shall be entitled to recover reasonable attorney’s fees and

other costs incurred in such action or proceeding in addition to any other relief to which they

may be entitled.

18. Further Assurances. Each of the parties shall execute said documents and other

instruments and take such further actions as may be reasonably required or desirable to carry out

the provisions hereof and the transactions contemplated hereby.

19. additional considerations:

State Securities Laws. Subscribers should also be aware of the following

FOR RESIDENTS OF ALL STATES:

THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER

THE SECURITIES ACT OF 1933, AS AMENDED OR THE SECURITIES LAWS OF

ANY STATES AND THE SECURITIES ARE BEING OFFERED AND SOLD IN

RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF

SUCH ACT AND SUCH LAWS. THE SECURITIES ARE SUBJECT TO

RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE

TRANSFERRED OR RESOLD EXCEPT ACCORDING TO SUCH RESTRICTIONS.

THE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE

SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES

COMMISSION OR OTHER REGULATORY AUTHORITY, NOR HAVE ANY OF

THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS

OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF THE

DISCLOSURE MATERIALS PRODUCED TO THE SUBSCRIBERS. ANY

REPRESENTATION TO THE CONTRARY IS UNLAWFUL.

Subscription Information (to be completed by individual subscriber):

Total Subscription Amount: $_______________________

Numbers of Bonds Purchased: ______ Class A

______ Class B

______ Class C

______ Class D

______ Class E

______ Class F

Name(s) in which the Bonds are to be registered:

Home Address

Mailing Address

E-Mail Address

Phone

Form of joint ownership (if applicable). (If one of these items is checked, subscriber and co-

subscriber must both sign all documents.):

Tenants-in-Common Joint Tenants

IN WITNESS WHEREOF, the undersigned has caused this Subscription Agreement to

be duly executed on the ____ day of _________________, 2025.

Please Print Name of Subscriber Signature of Subscriber Social Security Number

Please Print Name of Co-Subscriber Signature of Co-Subscriber Social Security Number

THIS PORTION NOT TO BE COMPLETED BY SUBSCRIBER

RECEIPT AND ACCEPTANCE

WIRE TRANSFER OR CHECK AND SUBSCRIPTION AGREEMENT RECEIVED ON

______________, 2025.

By:

SUBSCRIPTION ACCEPTED ON , 2025.

BEQUEST BONDS I, INC.,

By:

Name:

Title: