On March 18, 2024, Powerfleet Israel Ltd. and Pointer Telocation Ltd., each a wholly owned subsidiary of PowerFleet Inc. entered into an amended and restated credit agreement (the "A&R Credit Agreement") with Bank Hapoalim B.M. ("Hapoalim"), which refinances the facilities under, and amends and restates, the existing credit agreement, dated August 19, 2019 (as amended, the "Prior Credit Agreement"). The A&R Credit Agreement provides for (i) two senior secured term loan facilities denominated in NIS to Powerfleet Israel in an aggregate principal amount of $30 million, comprised of two facilities in the aggregate principal amounts of $20 million and $10 million, respectively ("Facility A" and "Facility B," respectively, and, collectively, the "Term Facilities"), and (ii) two revolving credit facilities to Pointer in an aggregate principal amount of $20 million, comprised of two revolvers in the aggregate principal amounts of $10 million and $10 million, respectively ("Facility C" and "Facility D," respectively, and, collectively, the "Revolving Facilities" and, together with the Term Facilities, the "Credit Facilities"). The Term Facilities will mature on March 18, 2029.

The Revolving Facilities are available for successive one-month periods until and including March 18, 2025, unless the Borrowers deliver prior notice to Hapoalim of their request not to renew the Revolving Facilities. The proceeds of the Term Facilities have been used by Powerfleet Israel for the prepayment of the term loans extended to Powerfleet Israel under the Prior Credit Agreement, and any remaining proceeds may be used for distributions. The proceeds of the Revolving Facilities may be used by Pointer for general corporate purposes, including working capital and capital expenditures.

The Credit Facilities continue to be secured by first ranking and exclusive fixed and floating charges, including by Powerfleet Israel over the entire share capital of Pointer and by Pointer over all of its assets, as well as cross guarantees between Powerfleet Israel and Pointer, except that the Borrowers' holdings in Pointer do Brasil Comercial Ltda., Pointer Argentina S.A. and Pointer SA (PTY) Ltd. are excluded from such floating charges. No other assets of the Company will serve as collateral under the Credit Facilities. Borrowings under the Term Facilities continue to be voluntarily prepayable at any time, in whole or in part, and are no longer subject to any prepayment premium.

Voluntary prepayments of the Term Facilities must be made in minimum increments of NIS 1 million. In addition to certain customary mandatory prepayment requirements, the A&R Credit Agreement also requires Powerfleet Israel to make prepayments on the Term Facilities to the extent it receives distributions from Pointer, except for any such distributions made to cover certain expenses of Powerfleet Israel in its normal course of operations. Facility A amortizes in quarterly installments over its five-year term and will be payable in the following aggregate annual amounts: (i) 10% of the principal amount of Facility A from March 18, 2024 until March 18, 2025, (ii) 25% of the principal amount of Facility A from March 18, 2025 until March 18, 2026, (iii) 27.5% of the principal amount of Facility A from March 18, 2026 until March 18, 2027, (iv) 27.5% of the principal amount of Facility A from March 18, 2027 until March 18, 2028, and (v) 10% of the principal amount of Facility A from March 18, 2028 until March 18, 2029.

Facility B does not amortize and will be payable in full on March 18, 2029.