September 15, 2022 SusGlobal Energy Corp. 200 Davenport Road Toronto, Ontario M5R 1J2 Attn: Marc Hazout E-mail: VIA ELECTRONIC MAIL Re: Amendments to OID Convertible Promissory Notes Dear Marc:Oid Convertible Promissory Notes • September 21st, 2022 • SusGlobal Energy Corp. • Refuse systems • Arizona
Reference is made to (i) those certain Securities Purchase Agreements, dated as of March 3, 2022 and March 7, 2022 (the "March Purchase Agreements"), among SusGlobal Energy Corp. (the "Company"), and Target Capital 2 LLC ("Target") and Cypress Bridge Capital LLC ("Cypress," together with Target, the "Purchasers"; and, collectively with the Company, the "Parties"), (ii) the two separate Notes (as respectively defined in the March Purchase Agreements referred to herein as the "March 3 Target Note" and the "March 7 Cypress Note") of the Company issued in favor of each Purchaser (the "March Purchaser Notes"), (iii) that certain Securities Purchase Agreement, dated as of October 29, 2021 (the "October Purchase Agreement," and collectively with the March Purchase Agreements, the "Purchase Agreements"), between the Company and Target, and (iv) the Note (as defined in the October Purchase Agreement) of the Company issued in favor of Target (the "October Target Note," collectively with the Marc
