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ENGlobal in talks with banks on defaults on PNC credit facility

As of 8/20, the company was in active discussions with its banks regarding the terms under which the defaults under the PNC Credit Facility and the Ex-Im Bank Facility may be cured or waived. However, we cannot assure you that we will be successful in obtaining the cure or waiver of such defaults. If we fail to obtain the cure or waiver of such defaults, the lenders may exercise any and all rights and remedies available to them under their respective agreements.