WLMS Williams Industrial Services Group Inc

On April 4, 2023, Williams Industrial Services Group Inc. (the “Company”) entered into the fifth amendment (the “Term Loan Amendment”) to its Term Loan, Guarantee and Security Agreement, dated December 16, 2020, by and among the Company and certain of its subsidiaries as borrowers or guarantors, EICF Agent LLC, as agent for the lenders, and the lenders party thereto (as amended, the “Term Loan Agreement”), which increased the amount of certain additional interest to be paid by the Company upon the earlier to occur of certain stated events, including a prepayment or maturity of the loan obligations under the Term Loan Agreement, from 50% to 60% of the aggregate amount of all delayed draw term loans made under the Term Loan Agreement as of such date.

In addition, on April 4, 2023, the Company entered into a fee letter (the “Revolving Credit Fee Letter”) with PNC Bank, National Association (“PNC”), relating to the Revolving Credit and Security Agreement, dated December 16, 2020, by and among the Company and certain of its subsidiaries as borrowers or guarantors, PNC, as agent for the lenders, and the lenders party thereto (as amended, the “Revolving Credit Agreement”), pursuant to which the Company agreed to pay PNC an additional exit fee of $600,000, to be paid upon the earlier to occur of certain stated events, including a prepayment or maturity of the loan obligations under the Revolving Credit Agreement.

The Company expects to include each of the Term Loan Amendment and the Revolving Credit Fee Letter as an exhibit to a future periodic report, to be filed with the U.S. Securities and Exchange Commission. The foregoing descriptions do not constitute a complete summary of the terms of the Term Loan Amendment or the Revolving Credit Fee Letter and are qualified in their entirety by reference to the full text of the respective exhibit.