CPI AEROSTRUCTURES INC

Credit Agreement Waiver and Amendment

On August 14, 2025, the Lenders issued a waiver under the Credit Agreement that waived the Company’s Financial Covenant non-compliance for the fiscal quarter ended June 30, 2025 and temporarily waived the non-compliance with the July 2025 Payment Obligation until September 30, 2025. On August 19, 2025, the Company executed the Fifteenth Amendment, which reflects specified adjustments to the Credit Agreement for the quarter ended March 31, 2025 and for the quarter ended June 30, 2025. These covenant-based adjustments are intended to mitigate the impact of the termination of the Company’s A-10 Program on the Company’s compliance with its financial covenants. The Fifteenth Amendment also has customary terms and conditions, including representations, reaffirmations of prior obligations, and related provisions. The foregoing descriptions of the waiver and the Fifteenth Amendment are qualified in their entirety by reference to the text thereof, copies of which are filed as Exhibits 10.1 and 10.2, respectively to this Quarterly Report on Form 10-Q and incorporated herein by reference.