KALA BIO, Inc.

Entry into Note Amendment

As previously reported, on February 9, 2026, the Company made the Loan in the principal amount of $7.0 million evidenced by the Note to Minglemint in connection with the Company’s determination that a portion of its cash on hand was in excess of its near-term working capital requirements and operational needs. The Loan bears interest at a rate of 8.0% per annum. The Note includes customary event of default provisions, including, but not limited to, for a breach of any representations and warranties or covenants, any bankruptcy or insolvency proceedings of the Borrower, and the failure of the Borrower to pay, upon 15 days’ written notice of default, any principal amount of the Loan or interest due. The Note provides for a default interest rate of 13.0%. As described in the Note, upon the occurrence of certain events of default, the Company may, among other remedies, declare the outstanding balance of the Note including all accrued interest thereon immediately due and payable.

On May 11, 2026, the Company and the Borrower entered into the Loan Amendment which added a provision that the Company has the right at any time and from time to time, on no less than 45 days’ notice, to demand repayment of all or any portion of the outstanding principal amount of the Loan, including all accrued and unpaid interest thereon and any other amounts owing under the Note by delivering a Call Notice. The Borrower agrees to repay the amount in the Call Notice, and any amount not timely repaid will accrue interest at the default interest rate of 13.0%.

Director and Officer Trading Arrangements

None of our directors or officers (as defined in Rule 16a-1(f) under the Securities Exchange Act of 1934, as amended)adopted orterminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement (as defined in Item 408(c) of Regulation S-K) during the quarterly period covered by this report.