• Norwood enters into 6th deed of variation to loan agreement
• Loan facility increased from $300k to $732,189.69
• Repayment date extended to 28 February 2025

Norwood Systems Ltd (Norwood or the Company) (ASX: NOR) has entered into a sixth deed of variation to a loan agreement that provided access to a cash drawdown capital facility. The initial loan agreement was for up to $300,000, as announced to the ASX on 30 April 2024. Under the first deed of variation, the cash drawdown facility amount was increased to $430,000. This was followed by further increases to $580,000, $640,000, and $699,602.84 as of 1st January 2025. The fifth deed of variation increased the principal to $720,114.21 as of 14th February 2025. The sixth deed of variation extends the repayment date to 28 February 2025, with an extension fee of 1.0% of the new principal amount of $732,189.69, which includes interest and fees. All other terms and conditions of the Loan Agreement remain in full force and effect. The Board continues to assess the transaction as being arm's length, with the terms being better for the Company than the prevailing market rates. Norwood has expressed gratitude for the continued support and commitment of director Dr John Tarrant, who controls the lending company, Balmain Resources Pty Ltd.