On October 6, 2023, D-Wave Quantum Inc. entered into the Fourth Amendment to Loan and Security Agreement with PSPIB Unitas Investments II Inc. (PSPIB) amending certain provisions to the Loan and Security Agreement dated as of April 13, 2023, by and among the Company and its subsidiaries and PSPIB, as amended (the Term Loan). Under the Amendment, the deadline for the company to deliver to PSPIB a board-approved operating budget and plan for the company's fiscal years 2023 through 2027 was extended to December 31, 2023. In addition, the Amendment extended the period for which no prepayment of the advances under the Term Loan is required with respect to aggregate gross proceeds of up to $50,000,000 received pursuant to share issuances under the ELOC (as defined in the Term Loan) to proceeds received prior to December 31, 2023.

The Amendment also makes other changes to the Term Loan, such as clarifying the meaning of certain defined terms.