Ann: GBP 1.4m R&D Rebate Received - Convertible Loan Agreement, page-3

Lender will have the right to invest a total of US$550,000, in whole or in part, in future public
issuances of stock of the Guarantor (including an IPO) which shall take place prior to the
third anniversary hereof, at a price per share which reflects a 10% discount of the price
at that round. Such right does not apply to the ongoing round, the terms of which have
already been fixed.