UroGen Pharma Ltd. and UroGen Pharma, Inc. (Credit Parties) entered into a Loan Agreement with BPCR Limited Partnership, BioPharma Credit Investments V (Master) LP, and BioPharma Credit PLC (Lenders/Collateral Agent). The agreement provides term loans up to $250,000,000, to be advanced in two tranches. The first tranche (Tranche A Loan) of $200,000,000 was funded on February 26, 2026. The second tranche (Tranche B Loan) of $50,000,000 will be advanced following the Borrower's election, to be made no later than June 30, 2027, subject to customary conditions. The Term Loans will mature on the 5th year anniversary of the Tranche A Closing Date. The proceeds of the Tranche A Loan will be used to refinance an existing $125,000,000 term loan facility and to fund general corporate and working capital requirements. The proceeds of the Tranche B Loan may be used for general corporate and working capital requirements. All outstanding obligations bear interest at a fixed rate of 8.25% per annum, payable quarterly in arrears. Repayment of outstanding principal will be made in four equal quarterly payments commencing in the first quarter of 2030. The Borrower will pay a funding fee equal to 1.50% of the Lenders' total committed amount and an exit fee equal to 1% of the principal amount being repaid. Prepayments of Tranche A Loan prior to its 1st anniversary and Tranche B Loan prior to its 1st anniversary are subject to a makewhole amount equal to the sum of all interest that would have accrued through such 1st anniversary. The obligations are guaranteed by the Company and secured by substantially all of the Credit Parties' tangible and intangible assets and property, including intellectual property, subject to certain exceptions. The Loan Agreement contains customary affirmative and restrictive covenants, but does not contain any financial covenants.