On January 24, 2024, Cognyte Software Ltd. has entered into a credit facility agreement (the ?Credit Facility?) with Bank Hapoalim B.M. (the ?Bank?). The Credit Facility precedes the scheduled expiration of the current credit facility with the Bank, which was scheduled to expire on January 31, 2024, ensuring a seamless transition and uninterrupted support for the Company?s financial priorities. The Credit Facility is extended to the Company until January 31, 2026.

Based on the Company?s financial objectives, current cash balance and expected cash flow, the available amount under the Credit Facility will be revised to $30 million from the previous $50 million. As of this date, there are no outstanding amounts borrowed by the Company under the previous credit facility with the Bank. The Credit Facility contains customary affirmative and restrictive covenants for credit facilities of this type.