Jaguar Health cuts royalty debt by $6.5M, issues Series M preferred to Iliad and Streeterville

Jaguar Health, Inc.

• Issued 170 shares of Series M Preferred to Iliad for $4.25M reduction in October 2020 royalty interest.
• Issued 90 shares of Series M Preferred to Streeterville for $2.25M reduction in August 2022 royalty interest.
• Series M Preferred has $25,000 stated value, no dividends, and accrues a preferred return (10%-6% declining).
• Company may exchange Series M shares for common stock at the lower of closing or 5-day average price.
• Preferred holders gain consent rights over equity issuances, asset sales, and reverse splits.