On January 7, 2021, DRTT Environmental Solutions Ltd. entered into a Letter Agreement (the Letter Agreement) with DIRTT Environmental Solutions Inc. (the Guarantor) and Royal Bank of Canada (the Lender) to amend the credit agreement entered into by and among the Company, the Guarantor and the Lender, dated as of July 19, 2019, as amended by a first amending agreement dated March 4, 2020, a letter agreement dated as of June 19, 2020 and a letter agreement dated as of December 23, 2020 (as so amended, the Credit Agreement). Among other things, the Letter Agreement revises the definition of Permitted Debt to include Convertible Debt (each as defined therein) which encompasses the Debentures (as defined herein) offered in the Offering (as defined herein).