On November 22, 2021, Northwest Biotherapeutics, Inc. entered into a loan financing with Streeterville Capital, LLC (the Lender") pursuant to which the Company received net proceeds of $15,000,000. The Loan has a maturity of 22 months. No payments are due for the first 8 months of the Loan term. Thereafter, the Loan will be amortized in 14 equal monthly installments of principal at 110% of the pro rata amount, plus accrued interest. The interest on the Loan is 8% per annum, and there is a 10% OID. The Loan allows pre-payment at any time at the Company's election. The Loan documents contain customary default provisions. Upon announcement of the top line data (TLD") from the Company's Phase III clinical trial of DCVax -L for glioblastoma brain cancer, the Lender has a then-springing right to exchange the outstanding balance of the loan for common shares priced at the price of the first private placement transaction following TLD less a 12% discount and to purchase another 50% of that number of shares at the same price. This then-springing right expires 14 days after the post-TLD private placement.