Dave & Buster's amends cooperation agreement with Hill Path; raises ownership cap to 20% with voting restrictions

Dave & Buster's Entertainment, Inc.

Hill Path may acquire up to 20% of outstanding shares (including derivatives) while James Chambers serves on board.
Hill Path must vote shares above 15% in same proportion as other shareholders on all matters.
Conditional waiver of DGCL Section 203 for acquisitions below 20%; if exceeded, Section 203 applies contractually for 3 years.
Hill Path currently owns 10.3% of common stock, with economic exposure to approximately 14.8% of outstanding shares.
Amended and restated cooperation agreement replaces prior December 2020 agreement.

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