As previously disclosed, NioCorp Developments Ltd. entered into a $3.5 million non-revolving credit facility agreement, dated January 16, 2017 (as amended on March 20, 2017, April 6, 2018, May 31, 2019, January 17, 2020, April 3, 2020, June 10, 2020, December 14, 2020, and December 13, 2021, the Smith Credit Facility"), by and between the Company and Mr. Mark A. Smith, the Company's Chief Executive Officer, President, and Executive Chairman. On June 29, 2022, the Company and Mr. Smith entered into an amending agreement to the Smith Credit Facility (the Smith Credit Facility Extension Agreement"), extending the maturity date of the Smith Credit Facility to June 30, 2023.