Alfi, Inc. entered into a Credit and Security Agreement with Lee Aerospace, Inc. (the Lender), pursuant to which the Lender has made available to the company until the maturity date a non-revolving line of credit, up to an aggregate principal amount of $2,500,000, on the terms and conditions set forth in the Credit Agreement. On April 12, 2022, the Lender funded to the company $600,000 under the Credit Agreement. Prior to the maturity date, the company may borrow an additional $1.9 million under the Credit Agreement, in the Lender's sole discretion and subject to the Company requesting such additional funds from the Lender in accordance with the Credit Agreement, the accuracy of the Company's representations in the Credit Agreement and related documents, and that no default under the Credit Agreement has occurred and is continuing.

The entire outstanding principal amount borrowed under the Credit Agreement, together with all accrued and unpaid interest on such borrowings outstanding from time to time, is due and payable on the earlier of: (i) the date upon which the Company consummates a debt or equity financing in an amount equal to or greater than $4,000,000 or (ii) April 12, 2023. Interest on the unpaid principal amount borrowed under the Credit Agreement accrues at an annual rate of 6% through October 12, 2022, and at an annual rate of 9% thereafter; provided, however, that upon the occurrence of an event of default, additional interest at an annual rate of 3% will accrue on all borrowings through October 12, 2022. All or part of the outstanding principal amount borrowed under the Credit Agreement may be prepaid at any time without penalty or premium, provided that such prepayments must be accompanied by the payment of all interest accrued on the amount so prepaid through the date of prepayment.

The principal amount so prepaid may not be reborrowed under the terms of the Credit Agreement.