Otto Energy Limited announced that the Company has executed a Facility Agreement Amendment Letter with Macquarie Bank Limited to adjust certain terms of its three-year senior secured term debt facility initially announced on 4 November 2019 (Credit Facility). Given this uncertainty, Otto and Macquarie have worked together to develop this amendment to: Establish the timing for a GC 21 mitigation plan to be developed and implemented (31 July 2021); Extend the availability of Tranche A2, the USD 10 million committed funding available on successful exploration or commencement of commercial production at GC 21 which expired on 31 December 2020, until 31 March 2022; and Establish a minimum quarterly average production requirement of 1,900 BOEPD until the GC 21 mitigation is completed (Otto Net WI volume).