Katapult Holdings Inc. has entered into a Third Limited Waiver to its Amended and Restated Loan and Security Agreement with Midtown Madison Management LLC and other lenders. This waiver, dated October 13, 2025, temporarily addresses Katapult's failure to maintain minimum trailing three-month originations for August and September 2025, as required by the original loan agreement. The waiver extends through October 20, 2025, and, despite the temporary waiver, the existing default is still considered ongoing for conversion rights purposes. As a result, Class B lenders now have the right to convert up to 100% of the outstanding term loan amount into Katapult common stock, based on the 20-day volume weighted average price, which was approximately $16.54 as of October 10, 2025.