AegirBio AB  has  entered into a conditional agreement on a loan facility with Atlas Special Opportunities, LLC under which the Company can call for loans in seven (7) tranches in an aggregate nominal amount of SEK 45.00 million before deduction of set-up fee and transaction costs. The Loan Facility has been procured in order to secure continued financing of the Company's operations, and to expedite the Company's grant-awarding RADx project under the auspices of the National Institutes of Health aimed at developing a digital multiplex self-testing platform for individuals with disabilities. RADx successful execution will position the Company for potential additional grants from the NIH into Workplan 2, contingent on the size of the grant, the Company will minimize draw down on the Loan Facility. The Loan Facility runs for 36 months from the date of the agreement. Tranches that are called upon run without interest and repayment shall be made in cash or by set-off against newly issued shares in the Company.

Upon calling of each Tranche, Atlas shall pay 90.00% of the Tranche's nominal amount in cash after deduction of an set-up fee of 10.00%. The Loan Facility consists of seven (7) tranches with a total nominal amount of SEK 45.00 million, whereby Tranche 1 can be called upon by the Company from 1 April 2024 and amounts to SEK 7.50 million before deduction of a set-up fee of SEK 0.75 million, Tranche 2 can be called upon by the Company from 1 May 2024 and amounts to SEK 5,00 million before deduction of a set-up fee of SEK 0.50 million, Tranche 3 can be called upon by the Company from 1 July 2024 and amounts to SEK 10.00 million before deduction of a set-up fee of SEK 1.00 million, Tranche 4 can be called upon by the Company from 1 August 2024 and amounts to SEK 6,50 million before deduction of a set-up fee of SEK 0.65 million, Tranche 5 can be called upon by the Company from the date that occurs 150 trading days after the payment of Tranche 4 and amounts to SEK 7.00 million before deduction of a set-up fee of SEK 0.70 million, Tranche 6 can be called upon by the Company from the day that occurs 60 trading days after the payment of Tranche 5 and amounts to SEK 5.00 million before deduction of a set-up fee of SEK 0.50 million, and Tranche 7 can be called upon by the Company from the day that occurs 60 days after the payment of Tranche 6 and amounts to SEK 4.00 million before deduction of a set-up fee of SEK 0.40 million. The difference between the nominal amount and the amount paid in cash in each Tranche corresponds to a set-up fee of 10.00% to Atlas. Furthermore, a transaction fee of SEK 7.00 million is payable to Atlas for the issuance of the Loan Facility, to be paid in full by AegirBio by way of set-off against newly issued shares (the "Transaction Fee Shares") at Atlas' request, but no later than on 5 May 2026.

Thus, the transaction fee will not be deducted from the nominal amount of the Loan Facility. The set-up fee and transaction fee have been determined based on arm's length negotiations between the Company and Atlas. Tranches drawn under the Loan Facility are interest-free and mature 36 months from today's date. In addition to the above fees to Atlas, there are customary transaction costs that are estimated to be in the range of SEK 1.50 million to SEK 4.00 million. The extent of the transaction costs depends on how many Tranches are called upon. In order to facilitate the administration of the conversions, the parties have agreed that Atlas may only sell the Transaction Fee Shares when Atlas has called for conversion of all or part of the paid Tranche into shares in the Company and that a share issue in accordance with the Loan Facility shall take place when Atlas has called for conversion of at least SEK 2.50 million.

If the market value of the Transaction Fee Shares falls below SEK 1.00 million, the Company shall issue additional Transaction Fee Shares to faciltate that the market value of such shares is again SEK 7.00 million. If the market value of the Transaction Fee Shares is less than SEK 7.00 million on the earlier of (i)  5 May 2026 and (ii) the maturity date of the Loan Facility, Atlas shall be compensated so that the value of the Transaction Fee Shares is once again SEK 7.00 million. After this final, eventual, recalculation, Atlas is free to sell the Transaction Fee Shares at Atlas' discretion and no further recalculation shall take place. SEK 25.00 million of the Loan Facility will be will be secured against a floating charge.