Item 1.02 Termination of a Material Definitive Agreement.

On March 26, 2020, DASAN Zhone Solutions, Inc. (the "Company") repaid all outstanding principal and accrued but unpaid interest under the Revolving Credit, Term Loan, Guaranty and Security Agreement and that certain Export-Import Revolving Credit, Guaranty and Security Agreement (such agreements, the "PNC Credit Facilities"), in each case by and among the Company, ZTI Merger Subsidiary III, Inc., a wholly owned subsidiary of the Company, certain direct and indirect subsidiaries of the Company, as guarantors, PNC Bank, National Association ("PNC Bank") and Citibank, N.A., as lenders, and PNC Bank as agent for the lenders. As a result of the repayment, all security interests and other liens granted to or held by the lenders and all guaranties made in favor of the lenders pursuant to the PNC Credit Facilities were terminated and released.

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