Promissory Note Issued by Bynordic Acquisition Corporation

Bynordic Acquisition Corporation ("BYNO") has issued a promissory note for $300,000 to Achilles Capital AB, an affiliate of the company's sponsor, Water by Nordic AB. The funds will be used for general working capital. The note does not bear interest and is due upon the consummation of BYNO's initial business combination. If a business combination is not completed, the note will be repaid only to the extent funds are available outside of the company's trust account. Failure to pay by the maturity date constitutes an event of default, potentially leading to acceleration of the note. The company and the lender have agreed to treat the note as an equity interest for tax purposes. The lender has waived any claims against the company's trust account.