Corre Opportunities Qualified Master Fund, LP → Team Inc TISI

On August 6, 2026, Corre Opportunities Qualified Master Fund, LP, Corre Horizon Fund, LP and Corre Horizon II Fund, LP, each an existing shareholder of the Issuer, along with Corre Partners Management, LLC ("Corre"), which has been delegated investment authority over the assets of such shareholders (collectively with such shareholders, the "Corre Holders"), entered into a securities purchase agreement (the "Purchase Agreement") with InspectionTech Holdings LP (the "Stellex Holder"). Pursuant to the Purchase Agreement, the Sellers sold all common stock held by the Sellers (consisting of 1,054,719 shares held by Qualified Master Fund, LP, 249,942 shares held by Corre Horizon Fund, LP and 299,665 shares held by Corre Horizon II Fund, LP) to the Buyer for aggregate consideration of $56,953,573. Pursuant to the Purchase Agreement, until the earlier of (x) December 31, 2027 and (y) the date that Buyer or its affiliates obtain the right to designate one or more directors of the Issuer in addition to the number of directors that Buyer or its affiliates had the right to designate as of the date of the Purchase Agreement (the "Additional Buyer Director Designation Date"), the Corre Holders have agreed to consult with Buyer regarding the Sellers Parties' rights to nominate a director to the Issuer's Board of Directors pursuant to the Board Rights Agreement, dated as of June 16, 2023 (the "Board Rights Agreement"), as amended. Further, until the earlier of (x) December 31, 2027 or the Additional Buyer Director Designation Date, upon Buyer's request, the Corre Holders will use their reasonable best efforts to obtain the resignation of the Lender Director (as such term is defined in the Board Rights Agreement). The Purchase Agreement also contains certain customary standstill restrictions on Corre and the Corre Holders, subject to certain exceptions. Pursuant to the Purchase Agreement, on August 6, 2026, the Corre Holders delivered an irrevocable waiver to the Issuer under the Board Rights Agreement, waiving the Corre Holders' rights to Board Observers and Board Nomination Rights, other than with respect to the Lender Director. The foregoing description of the Purchase Agreement is not complete and is qualified in its entirety by reference to the full text of the Purchase Agreement, which has been filed as Exhibit 99.1 hereto and incorporated by reference herein.