BOF · BranchOut Food Inc.

BranchOut Food Inc. continues its financing relationship with Kaufman Kapital LLC through two key actions disclosed in this filing. First, Amendment No. 3 to the existing Convertible Note introduces a standard 9.99% beneficial ownership limitation, restricting Kaufman's conversions to prevent exceeding this threshold based on Section 13(d) calculations. This protects the company from potential takeover risks while preserving the note's core terms, including the fixed $0.7582 conversion price and December 31, 2027 maturity. Second, the company drew down another $750,000 on May 15, 2026, bringing total borrowings under the Senior Secured Note to $3 million, following prior advances of $1.5 million in January and $0.75 million in April. This incremental funding, secured by all assets and carrying 8% interest until January 2027 maturity, supports immediate working capital needs for customer order production. The note imposes standard protections for the lender, such as financial reporting requirements, restrictions on new debt/dividends/asset sales, and typical events of default. Investors should note the increasing reliance on this lender amid ongoing operational funding requirements.