On December 15, 2021, Trinity Biotech plc the entry into a $81.25 million loan facility to refinance substantially all of the existing $99.9 million of exchangeable senior notes issued by the Company's subsidiary, Trinity Biotech Investment Limited and exchange agreements for over 99% of the outstanding Notes, all subject to certain conditions precedent. The Company and its subsidiaries entered into a $81,250,000 senior secured term loan credit facility (the “Term Loan”) with Perceptive Advisors (“Perceptive”), an investment manager with an expertise in healthcare. Proceeds from the Term Loan, along with existing cash and the issuance of new American Depository Shares (“ADS”) in the Company, will be used to retire substantially all of the Notes.

The Term Loan will mature on the fourth anniversary of the closing date and accrues interest at an annual rate equal to 11.25% plus the greater of (a) one-month LIBOR and (b) one percent per annum, and interest will be payable monthly in arrears in cash. The Term Loan does not require any amortization, and the entire unpaid balance will be payable upon maturity. The funding of the Term Loan is subject to a number of conditions precedent including the repayment of at least 99.7% of the Notes and approval by the Company's shareholders of the Term Loan, an increase in the authorized share capital of the Company and the issuance of the Warrants.

The Company intends to convene a general meeting of the Company to consider these matters in January 2022.