The Board announced that, on July 11, 2022, the Sands China Ltd. entered into a loan agreement with Las Vegas Sands Corp, pursuant to which LVS has extended to the Company a subordinated unsecured term loan in the amount of USD 1 billion on July 11, 2022 which is repayable on July 11, 2028 (the “Loan”). In the first two years from July 11, 2022, the Company will have the option to elect to pay cash interest at 5% per annum or payment-in-kind interest at 6% per annum by adding the amount of such interest to the then-outstanding principal amount of the Loan, following which only cash interest at 5% per annum will be payable. LVS will provide the Loan to the Company in order to support, among other things, the working capital and general corporate purposes of the Group.

The Loan is pre-payable by the Company in whole or in part at any time without penalty. The Company's obligations under the Loan will be subordinated unsecured obligations of the Company and will be subordinated to all third party unsecured indebtedness and other obligations of every nature of the Group from time to time, including all Senior Notes issued by the Company and the 2018 SCL Credit Facility (as amended, restated, replaced (whether upon or after termination or otherwise, and whether with the original lenders or otherwise), refinanced, supplemented, modified or otherwise changed (in whole or in part, and without limitation as to amount, terms, conditions, covenants and other provisions) from time to time, including any extension of the maturity thereof or increase in the amount of available borrowings thereof).