On October 31, 2023, Optical Cable Corporation and Northeast Bank, a banking corporation organized under the laws of Maine (the Lender) entered into an Omnibus Amendment of Loan Documents to modify certain loan documents currently in effect between the parties related to the real estate term loan (the Virginia Real Estate Loan") evidenced by the Term Loan B Note (Note B), and a supplemental real estate term loan (the North Carolina Real Estate Loan) evidenced by the Term Loan A Note (Note A), with the Virginia Real Estate Loan and the North Carolina Real Estate Loan, together, referred to as the Loans. The Loans are the only credit facilities the company has with the Lender prior to the Amendment. The primary purpose of the Amendment was to: pay off the North Carolina Real Estate Loan evidenced by Note A, pay down the balance on the Virginia Real Estate Loan evidenced by Note B; extend the maturity date of The Virginia Real Estate Loan; release the collateral of the North Carolina Real Estate Loan; and modify the interest rate of Note B. The Amendment provides that the terms of Virginia Real Estate Loan evidenced by Note B are hereby amended as follows: The maturity of Note B is extended through May 5, 2026; Effective as of October 5, 2023, interest accrues on account of Note B at a rate equal to the Prime Rate (as defined in the Amendment), adjusted monthly on the fifth (5th) day of each calendar month in accordance with changes to the Prime Rate, provided, however, that the interest rate shall never be less than eight and one-half percent (8.50% per annum).

Interest is computed on the aggregate principal balance outstanding from time to time, on the basis of a 360-day year times the actual number of days elapsed. If the Prime Rate is determined to be less than 0.0% then the Prime Rate for purposes of Note B shall be deemed to be 0.0%; Commencing on November 5, 2023 and on the fifth (5) day of each month thereafter, Borrower shall pay to the Lender a monthly payment of principal (calculated by the Lender using the unpaid principal balance of Note B post application of the Insurance Proceeds and a two hundred forty (240) month amortization schedule), together with a payment of interest thereon in arrears as it accrues, as invoiced by the Lender. The unpaid principal balance outstanding on Note B together with all accrued and unpaid interest, as well as any fees, late charges, expenses and attorney's fees and costs, shall be due and payable in full without notice or grace at maturity of Note B; and Note B may be prepaid in full at any time prior to the maturity of Note B, provided however, any such payment of principal shall be subject to minimum interest payable to the Lender at the time of prepayment (the "Minimum Interest").

The Minimum Interest shall be equal to twenty-four (24) months of interest on the outstanding principal balance of Note B as of the Amendment Effective Date (which is October 31, 2023) (but after the application of the Insurance Proceeds) minus the amount of interest paid to Lender from the Amendment Effective Date to the date of prepayment. The Loan remains generally secured by the land and buildings at the Company's headquarters and manufacturing facilities located in Roanoke, Virginia. All other terms of the Virginia Real Estate Loan, specifically Note B and the Virginia Deed of Trust remain unaltered and remain in full force and effect.

After the effect of the Amendment, the principal balance of the Virginia Real Estate Loan is approximately $2,675,244 at October 31, 2023.