On October 18, 2023, PepperLime Health Acquisition Corporation issued an unsecured promissory note in the aggregate principal amount up to $300,000 to PepperOne LLC, the Company?s sponsor. Pursuant to the Note, the Sponsor agreed to loan to the Company an aggregate amount up to $300,000 payable promptly after the date on which the Company consummates a business combination. In the event that the Company does not consummate a business combination, the Note will be terminated.

Such Note is convertible into the Company?s ordinary shares prior to or concurrently with the closing of a business combination, at the price of $10.00 per share at the option of the Sponsor. The Note does not bear interest. The Company intends to use such funds to make extension payments and for working capital purposes.