On February 21, 2020, Reebonz Holding Limited entered into an amended financing agreement with Lion-OCBC Capital Asia I Holding Pte. Ltd. and Oversea-Chinese Banking Corporation Limited (collectively, the “Lenders”), existing lenders of Reebonz Limited, the Company’s wholly-owned operating subsidiary, for the repayment of SGD 8,500,000 (the “Loans”) in principal payment in installments from February 28, 2020 to July 31, 2020. The parties entered into an Amended and Restated Facility Agreement to the Term Loan Facility Agreement dated November 15, 2015 (“Amended and Restated Agreement”), the material terms of which are summarized: Repayment Schedule: Pursuant to Amended and Restated Agreement, payments due under the agreement shall follow each of the following Repayment Dates, the Borrower shall pay the Repayment Instalment of SGD 950,00 on 28 February 2020, and SGD 1.5 million each at the end of months March to July 2020. Interest Payment: The rate of interest is 8% per annum and a default interest rate of 2% per annum on the outstanding loans, to be paid on a monthly basis. On March 4, 2020, Reebonz Holding Limited (the “Company”) entered into a Forbearance and Amendment Agreement (the “Forbearance Agreement”) with an institutional investor (the “Investor”) to whom the Company had previously issued the Note pursuant to which Investor agreed to forbear from taking any action with respect to certain Company defaults under that certain Secured Promissory Note dated September 4, 2019 issued by the Company to the Investor (the “Note”) and from issuing any demand for redemption of the Note on the basis of the Company’s existing defaults under the Note for a period commencing on the date of the Agreement and ending on the earlier of (i) 5pm New York city time on March 31, 2020; (2) such date after which all of the Ordinary Shares may be resold, without restriction, by the Investor either pursuant to Rule 144 or a Registration Statement that has been declared effective by the SEC and (iii) the time of any breach of the Agreement or the occurrence of any new default under the Note. In connection with the Forbearance Agreement, the Investor agreed to waive the Redemption Premium of the Conversion Amount with respect to any Alternate Conversion Date on which no Event of Default then remains outstanding. In addition, the Company agreed to waive in part Section 3(e) of the Note to permit the Investor to effectuate an Alternate Conversion at any time regardless of whether an Event of Default under the Note exists on the applicable Alternate Conversion Date. The Company further acknowledged that the failure to pay the Late Installment Amounts due on each of the first three Installment Dates gave the Investor the right to redeem each Late Installment Amount under the Note for an Event of Default Redemption Price of SGD 500,000 per each Late Installment Amount (a “Late Installment Redemption Price”) and that the Investor is hereby entitled to receive the Late Installment Redemption Price for each Installment Amount due and payable under the Note without Investor having to call for a redemption under the Note. Further, the parties agreed that all delinquent amounts due under the Note bear interest as the Default Rate until such amounts are actually paid to the Investor (or, if elected by the Investor, converted into Ordinary Shares in accordance with the terms of the Note).