Trinity Biotech Enters Agreements with Perceptive Advisors to Enhance Financial Flexibility

Trinity Biotech entered into a series of agreements with funds managed by Perceptive Advisors designed to enhance the Company's financial flexibility and to optimize its capital structure in support of its ongoing and future growth projects. Financial Summary: $5M of new term-loan proceeds to strengthen liquidity and funding for continued investment in key strategic development pipeline initiatives, including the Company's innovative continuous glucose monitoring solution, CGM+. Up to $60M in elective equitization capacity under the term-loan, potentially allowing for significant debt and cash interest cost reductions. Equity settlement mechanisms for $5M milestone payments and $7.5M contingent obligations, potentially reducing cash requirements. Second Amendment to Credit Agreement & Convertible Note: Trinity Biotech, certain of its subsidiaries, and Perceptive Credit Holdings III, L.P. executed a Second Amendment to the Company's Sixth Amended and Restated Credit Agreement, which provides, among other things: $5M of additional term-loan funding. Extension of the Credit Agreement maturity to January 15, 2027. Issuance of a new Convertible Promissory Note, providing for the conversion, at Perceptive's election, of up to $60M of the existing term-loan into the Company's American Depositary Shares at the greater of 97% of the Volume Weighted Average Price at the time of conversion and a floor price of $1.03. Conversions subject to a 9.9% beneficial ownership cap. Conversion Rights Agreement: Trinity Biotech, certain of its subsidiaries, and Perceptive Credit Holdings II, L.P. entered into a Conversion Rights Agreement that, amongst other matters: Allows Perceptive to satisfy a $5M milestone payment obligation undertaken in connection with the acquisition of its continuous glucose monitoring solution assets through the optional conversion of the cash payment into ADSs at the greater of 97% of VWAP at the time of conversion and a floor price of $1.03. Terminates up to $15M of contingent acquisition consideration undertaken in connection with the acquisition of its CGM assets in exchange for a $7.5M payment, convertible into the Company's ADSs, at Perceptive's election at the greater of 97% of VWAP at the time of conversion and a floor price of $1.03. Conversions subject to the 9.9% beneficial ownership cap.