As previously disclosed, on February 28, 2024, Vintage Wine Estates, Inc., its wholly owned subsidiary Vintage Wine Estates, Inc., a California corporation, certain other subsidiaries of the Borrower Agent the lenders party thereto and BMO Bank N.A., as administrative agent and collateral agent entered into a Forbearance Agreement with respect to the Second Amended and Restated Loan and Security Agreement, dated of December 13, 2022, by and among the Company, the Borrowers, the Lenders and the Agent. On April 2, 2024, the Original Forbearance Agreement was amended and restated pursuant to that certain Amended and Restated Forbearance Agreement On May 6, 2024, the Company, the Borrowers, the Consenting Lenders and the Agent entered into Amendment Number One to the A&R Forbearance Agreement (the ?Amendment?). The Amendment, effective as of May 6, 2024, amends the A&R Forbearance Agreement, to, among other things, (a) extend the period during which the Agent and the Lenders have agreed to forbear from enforcing their respective rights and remedies in respect of certain events of default under the Loan Agreement, subject to the terms and conditions therein, to June 4, 2024 (the ?Forbearance Period?), (b) extend the deadline by which the Borrowers shall make a $10 million mandatory prepayment of the term loan to June 17, 2024 and (c) amend the interest rate for swingline borrowings to be equal to one-month Adjusted Term SOFR plus 0.8% plus the Applicable Margin for Adjusted Base Rate Revolver Loans (each as defined in the Loan Agreement).

In connection with the Amendment, the Company and the Borrowers also agreed to pay certain fees to the Agent, including a one-time payment to the Agent for the benefit of the Consenting Lenders equal to 5 basis points on the Consenting Lenders' outstanding loans and commitments.