On April 20, 2022, Social Capital Suvretta Holdings Corp. III issued an unsecured promissory note (the Promissory Note") to the Company's sponsor, SCS Sponsor III LLC (the Sponsor"), pursuant to which the Company may borrow up to an aggregate principal amount of $1,500,000. The Promissory Note is non-interest bearing, unsecured and payable upon the earlier of July 2, 2023 and the effective date of the Company's initial business combination.

The Promissory Note is subject to customary events of default which could, subject to certain conditions, cause the Promissory Notes to become immediately due and payable.