In a letter to Geza Holdings AG dated May 20, 2022, PHI Group, Inc. unilaterally terminated the $1.5 billion loan program with Geza Holdings AG in connection with the Loan Approval Letter dated October 12, 2021 by Geza Holdings AG and the signed Term Sheet dated December 15, 2021 by Geza Holdings AG and PHI Group, Inc. In a letter to Neok Financial Incorporated dated May 20, 2022, the PHI Group, Inc. unilaterally terminated the $2.0 billion loan program with Neok Financial Incorporated in connection with the Loan Agreement Deed dated and signed November 14, 2021 by Neok Financial Incorporated and PHI Group, Inc.