On April 11, 2024, Rigel Pharmaceuticals, Inc. (?Rigel?) entered into Amendment No. 4 (the ?Amendment?) to that certain Credit and Security Agreement, dated as of September 27, 2019 (as further amended, supplemented or otherwise modified from time to time prior to the Amendment, the ?Existing Credit Agreement,? and as amended by the Amendment, the ?Amended Credit Agreement?) with Midcap Financial Trust (?MidCap?), as administrative agent, and the lenders party thereto (?Lenders?), pursuant to which MidCap and the Lenders agreed to amend the Existing Credit Agreement to, among other things, (i) extend the maturity date for the term loans to September 1, 2027 (the ?Maturity Date?), (ii) extend the interest only period for the term loans to October 1, 2025, (iii) reset the prepayment fee applicable to the term loans, (iv) increase the exit fee payable on the term loans, (v) revise the interest rate payable on the term loans, and (vi) update certain financial covenants in connection with the new maturity date.

The term loans under the Amended Credit Agreement may be prepaid in full or in part through September 30, 2025 with payment of a 1.5% prepayment premium, and thereafter they may be prepaid in full or in part through the date immediately prior to the Maturity Date with payment of a 1.0% prepayment premium. The interest rate applicable to the term loans under the Amended Credit Agreement is the secured overnight financing rate (?SOFR?) (as defined in the Existing Credit Agreement) plus 6.50%, subject to a SOFR floor of 4.00%. The amortization payments on the term loans under the Amended Credit Agreement start on October 1, 2025.

All unpaid principal and accrued interest is due and payable in full no later than the Maturity Date.