Material Agreement, Financial Obligation, Private Placement (Form 8-K)

Royalty Interest Global Amendments

On June 17, 2026, Jaguar Health, Inc. (the "Company") entered into an amendment (the "Uptown 2020 Royalty Interest Global Amendment No. 5") to the royalty interest in the original principal amount of $12 million, as amended (the "Uptown 2020 Royalty Interest") with Uptown Capital, LLC (f/k/a Irving Park Capital, LLC; "Uptown"), pursuant to which Section 2.2 of the Uptown 2020 Royalty Interest was deleted and replaced in its entirety such that, beginning on October 1, 2026, the monthly Royalty Payment shall be the greater of (a) $750,000.00, and (b) the actual Royalty Payment amount Uptown is entitled to for such month pursuant to Section 2.1 of the Uptown 2020 Royalty Interest.

On June 17, 2026, the Company also entered into an amendment (the "Streeterville 2022 Royalty Interest Global Amendment No. 5") to the royalty interest in the original principal amount of $12 million dated August 24, 2022, as amended (the "Streeterville 2022 Royalty Interest") with Streeterville Capital, LLC ("Streeterville"), pursuant to which Section 2.2 of the Streeterville 2022 Royalty Interest was deleted and replaced in its entirety such that initiation of monthly payments shall be extended from July 1, 2026 to October 1, 2026, the monthly Royalty Payment shall be the greater of (a) $750,000.00, and (b) the actual Royalty Payment amount Streeterville is entitled to for such month pursuant to Section 2.1 of the Streeterville 2022 Royalty Interest.

The foregoing descriptions of the Uptown 2020 Royalty Interest Global Amendment No. 5 and Streeterville 2022 Royalty Interest Global Amendment No. 5 do not purport to be complete and are qualified in their respective entirety by reference to the Uptown 2020 Royalty Interest Global Amendment No. 5 and Streeterville 2022 Royalty Interest Global Amendment No. 5, copies of which are filed herewith as Exhibits 4.1 and 4.2, respectively, and incorporated herein by reference.

Note Amendments

On June 17, 2026, the Company and Napo Pharmaceuticals, Inc., the Company's wholly-owned subsidiary ("Napo" and together with the Company, the "Borrower"), entered into an amendment (the "2021 Note Amendment No. 4") with Streeterville to the secured promissory note in the original principal amount of $6,220,812.50 (as amended, the "2021 Note") issued by Borrower to Streeterville on January 19, 2021 pursuant to that certain Note Purchase Agreement among the same parties dated as of the even date. Pursuant to the 2021 Note Amendment No. 4, the maturity date of the 2021 Note is extended from July 1, 2026 to October 1, 2026.

The foregoing description of the 2021 Note Amendment No. 4 does not purport to be complete and is qualified in its entirety by reference to the 2021 Note Amendment No. 4, a copy of which is filed herewith as Exhibit 4.3 and incorporated herein by reference.

- 2 -

Exchange Transactions

As previously disclosed, on May 19, 2026, Jaguar Health, Inc. (the "Company") sold and issued to Streeterville Capital, LLC ("Streeterville") an aggregate of 408 shares of Series Q Perpetual Preferred Stock (the "Series Q Preferred Stock") in two privately negotiated exchange transactions.

On June 9, 2026, the Company entered into a privately negotiated exchange agreement with Streeterville (the "First Exchange Agreement"), pursuant to which the Company issued 34,798 shares (the "First Exchange Shares") of the Company's common stock, par value $0.0001 (the "Common Stock"), to Streeterville in exchange for an aggregate of 3.8 outstanding shares of Series Q Preferred Stock held by Streeterville (the "First Exchanged Preferred Shares"). Upon completion of such exchange, the First Exchanged Preferred Shares were cancelled and retired.

On June 17, 2026, the Company entered into another privately negotiated exchange agreement with Streeterville (the "Second Exchange Agreement"), pursuant to which the Company issued 36,796 shares (the "Second Exchange Shares") of Common Stock to Streeterville in exchange for an aggregate of 3.4 outstanding shares of Series Q Preferred Stock held by Streeterville (the "Second Exchanged Preferred Shares"), which when combined with the First Exchange Shares resulted in the aggregate issuance by the Company of more than 5% of the Company's issued and outstanding shares of Common Stock, as last reported in the Company's Quarterly Report on Form 10-Q filed on May 20, 2026. Upon completion of such exchange, the Second Exchanged Preferred Shares were cancelled and retired.

On June 18, 2026, the Company entered into another privately negotiated exchange agreement with Streeterville (the "Third Exchange Agreement"), pursuant to which the Company issued 38,655 shares (the "Third Exchange Shares") of Common Stock to Streeterville in exchange for an aggregate of 3.68 outstanding shares of Series Q Preferred Stock held by Streeterville (the "Third Exchanged Preferred Shares"). Upon completion of such exchange, the Third Exchanged Preferred Shares were cancelled and retired.

The First Exchange Agreement, the Second Exchange Agreement and the Third Exchange Agreement (collectively, the "Exchange Agreements") include representations, warranties, and covenants customary for a transaction of this type.

The foregoing description of the Exchange Agreements does not purport to be complete and is qualified in their entirety by the Exchange Agreements, copies of which are filed herewith as Exhibits 10.1, 10.2 and 10.3 and incorporated herein by reference.

The information contained above in Item 1.01 under the headings "Royalty Interest Global Amendments" and "Note Amendments" is hereby incorporated by reference into this Item 2.03 in its entirety.

The information contained above in Item 1.01 under the heading "Exchange Transactions" is hereby incorporated by reference into this Item 3.02 in its entirety.