OXB Secures New Loan Facility with Oaktree

• $60 million upfront to repay existing $50 million loan facility and for general corporate purposes
• Facility provides flexibility to draw down additional funds to support future business needs, if required

Oxford, UK - 1 August 2025: OXB (LSE: OXB) ("the Company"), a global quality and innovation-led cell and gene therapy CDMO, today announces that it has secured a new four-year loan facility of up to $125 million (the "New Oaktree Loan"), provided by funds managed by Oaktree Capital Management, L.P. ("Oaktree"), a long-term capital partner to OXB. The new facility will strengthen the Company's financial foundation by refinancing its existing $50 million loan facility and providing financial flexibility to support OXB's global CDMO operations and the delivery of its growth strategy.

The New Oaktree Loan facility includes $60 million upfront funding available at close, which will be used to repay the existing $50 million four-year term loan facility with Oaktree (previously announced in October 2022) and for general corporate purposes. The facility also includes the option to draw down a further $25 million, subject to customary conditions, and an additional $40 million, subject to achieving certain revenue milestones - providing financial flexibility to support future business needs, if required.

Terms of the New Oaktree Loan are broadly similar to the prior four-year loan facility and include standard and customary provisions relating to mandatory and voluntary prepayments, covenants, representations and warranties. The New Oaktree Loan will not amortise, with the full aggregate principal and outstanding amount being repayable on the final maturity date in 2029.

Consistent with the terms of the existing facility, the New Oaktree Loan will be secured by substantially all of the assets of the Company and its wholly-owned subsidiaries and be guaranteed by the Company's wholly-owned subsidiaries, with customary exceptions.

• Lucinda Crabtree, Chief Financial Officer of OXB, commented: "Refinancing this facility marks an important step in strengthening our financial agility as we continue to execute our growth strategy. Oaktree's continued support reflects their long-standing confidence in OXB's leading position in the CDMO viral vector market and enables us to remain focused on enhancing our capabilities, delivering on our strategic objectives and creating value for our clients and stakeholders."

Aman Kumar, Co-Portfolio Manager for Oaktree's Life Sciences Lending platform, commented "We are delighted to extend our relationship with OXB through this debt refinancing. Over the course of our three previous investments, we have had an opportunity to witness first-hand the progress that the Company has made to establish itself as a global leader in the cell and gene therapy CDMO industry. We look forward to continuing to support the Company as it executes on its multi-vector, multi-site strategy."

Jefferies International Limited was the debt advisor to the Company, with King & Spalding LLP serving as legal counsel to OXB in connection with the refinancing. McDermott Will & Emery LLP served as legal counsel to Oaktree.

About Oaktree

Oaktree is a leader among global investment managers specializing in alternative investments, with $209 billion in assets under management as of June 30, 2025. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate. The firm has more than 1,200 employees and offices in 26 cities worldwide. For additional information, please visit Oaktree's website at http://www.oaktreecapital.com/.