THIS PROMISSORY NOTE ("NOTE") HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN T

PROMISSORY NOTE ("NOTE") HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT").

THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE

THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH

REGISTRATION IS NOT REQUIRED.

Horn Holdings Corp., a British Virgin Islands business company (the "Maker"), promises to pay to the order of

Bull Horn Holdings Sponsor LLC, or its registered assigns or successors in interest (the

"Payee"), or order, the principal sum of up to Five Hundred Thousand Dollars ($500,000) in lawful money of the United

States of America, on the terms and conditions described below. All payments on this Note (unless the full principal is converted

pursuant to Section 15 below) shall be made by check or wire transfer of immediately available funds or as otherwise determined by the

Maker to such account as the Payee may from time to time designate by written notice in accordance with the provisions of this Note.

principal balance of this Note shall be payable by the Maker on the earlier to occur of: (i) the date on which Maker consummates its initial

business combination (the "Business Combination") and (ii) the date that the winding up of Maker is effective (such

date, the "Maturity Date"). The principal balance may be prepaid at any time, at the election of the Maker, without

premium or penalty. Under no circumstances shall any individual, including but not limited to any officer, director, employee or shareholder

of the Maker, be obligated personally for any obligations or liabilities of the Maker hereunder.

interest shall accrue on the unpaid principal balance of this Note.

3. Drawdown Requests. The

principal of this Note may be drawn down from time to time prior to the Maturity Date, upon written request from Maker to Payee (each,

a "Drawdown Request"). Each Drawdown Request must state the amount to be drawn down, and must not be an amount less

than Ten Thousand Dollars ($10,000) unless agreed upon by Maker and Payee. Payee shall fund each Drawdown Request no later than five (5)

business days after receipt of a Drawdown Request; provided, however, that the maximum amount of drawdowns collectively under this Note

is Five Hundred Thousand Dollars ($500,000). Once an amount is drawn down under this Note, it shall not be available for future Drawdown

Requests even if prepaid. No fees, payments or other amounts shall be due to Payee in connection with, or as a result of, any Drawdown

4. Application of Payments. All

payments shall be applied first to payment in full of any costs incurred in the collection of any sum due under this Note, including (without

limitation) reasonable attorney's fees, then to the payment in full of any late charges and finally to the reduction of the unpaid

principal balance of this Note.

5. Events of Default. The

following shall constitute an event of default ("Event of Default"):

to Make Required Payments. Failure by Maker to pay the principal amount due pursuant to this Note within five (5) business days of

Bankruptcy, Etc. The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization, rehabilitation

or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian,

sequestrator (or other similar official) of Maker or for any substantial part of its property, or the making by it of any assignment for

the benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate action

by Maker in furtherance of any of the foregoing.

Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of Maker in an

involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian,

trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering the winding-up or liquidation

of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days.

the occurrence of an Event of Default specified in Section 5(a) hereof, Payee may, by written notice to Maker, declare this Note to be

due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable hereunder, shall become

immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived,

anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

the occurrence of an Event of Default specified in Sections 5(b) and 5(c), the unpaid principal balance of this Note, and all other sums

payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without any action on the part

and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor, protest, and

notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by Payee under the terms

of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting any property, real or personal,

or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution, or providing for

any stay of execution, exemption from civil process, or extension of time for payment; and Maker agrees that any real estate that may

be levied upon pursuant to a judgment obtained by virtue hereof or any writ of execution issued hereon, may be sold upon any such writ

in whole or in part in any order desired by Payee.

8. Unconditional Liability. Maker

hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement of the payment of this Note,

and agrees that its liability shall be unconditional, without regard to the liability of any other party, and shall not be affected in

any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to by Payee, and consents to any

and all extensions of time, renewals, waivers, or modifications that may be granted by Payee with respect to the payment or other provisions

of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become parties hereto without notice to Maker

or affecting Maker's liability hereunder.

notices, statements or other documents which are required or contemplated by this Note shall be made in writing and delivered: (i) personally

or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission to the address

designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address or fax number as may

be designated in writing by such party or (iii) by electronic mail, to the electronic mail address most recently provided to such party

or such other electronic mail address as may be designated in writing by such party. Any notice or other communication so transmitted

shall be deemed to have been given on the day of delivery, if delivered personally, on the business day following receipt of written confirmation,

if sent by facsimile or electronic transmission, one (1) business day after delivery to an overnight courier service or five (5) days

after mailing if sent by mail.

10. Construction. THIS

NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF DELAWARE, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF.

11. Severability. Any

provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective

to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or

unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

12. Trust Waiver. Notwithstanding

anything herein to the contrary, the Payee hereby waives any and all right, title, interest or claim of any kind ("Claim")

in or to any distribution of or from the trust account established in connection with the Maker's initial public offering (the "IPO"),

and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the trust account (or distributions

therefrom to Maker's public shareholders) for any reason whatsoever; provided, however, that upon the consummation of the Business

Combination, Maker shall repay the principal balance of this Note in accordance with Section 4 hereof out of the proceeds released to

Maker from the trust account after payment to redeeming public shareholders. The foregoing shall bind any permitted assignee or transferee

Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of the Maker

No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of law or

otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required consent shall

(a) Notwithstanding anything contained

in this Note to the contrary, at Payee's option, at any time prior to payment in full of the principal balance of this Note, Payee

may elect to convert up to Five Hundred Thousand Dollars ($500,000) of the unpaid principal balance of this Note into that number of warrants,

each whole warrant exercisable for one ordinary share of the Maker upon the consummation of an initial business combination (the "Conversion Warrants"),

equal to: (x) the portion of the principal amount of this Note being converted pursuant to this Section 15, divided by (y) $1.00, rounded

up to the nearest whole number of warrants. The Conversion Warrants shall be identical to the warrants issued by the Maker to the Payee

in a private placement upon consummation of the IPO. The Conversion Warrants and their underlying securities, and any other equity security

of Maker issued or issuable with respect to the foregoing by way of a stock dividend or stock split or in connection with a combination

of shares, recapitalization, amalgamation, consolidation or reorganization, shall be entitled to the registration rights set forth in

(b) Upon any complete or partial

conversion of the principal amount of this Note, (i) such principal amount shall be so converted and such converted portion of this Note

shall become fully paid and satisfied, (ii) Payee shall surrender and deliver this Note, duly endorsed, to Maker or such other address

which Maker shall designate against delivery of the Conversion Warrants, (iii) Maker shall promptly deliver a new duly executed Note to

Payee in the principal amount that remains outstanding, if any, after any such conversion and (iv) in exchange for all or any portion

of the surrendered Note, Maker shall, at the direction of Payee, deliver to Payee (or its members or their respective affiliates) (Payee

or such other persons, the "Holders") the Conversion Warrants, which shall bear such legends as are required, in the

opinion of counsel to Maker or by any other agreement between Maker and Payee and applicable state and federal securities laws.