Material Agreement (Form 8-K)

Item 1.01 Entry Into a Material Definitive Agreement.

On September 30, 2025, Twin Hospitality Group Inc. (the "Company") entered into a Common Stock Purchase Agreement (the "Purchase Agreement") and related Registration Rights Agreement (the "RRA") with White Lion Capital, LLC ("White Lion). Pursuant to the Purchase Agreement, the Company has the right, but not the obligation, to require White Lion to purchase, from time to time, up to $50.0 million in aggregate gross purchase price of newly issued Class A common stock of the Company (the "Common Stock"), subject to certain limitations and conditions set forth in the Purchase Agreement.

The Company is obligated under the Purchase Agreement and the RRA to file a registration statement with the Securities and Exchange Commission ("SEC") to register the Common Stock under the Securities Act of 1933, as amended (the "Securities Act"), for the resale by White Lion of shares of Common Stock that the Company may issue to White Lion under the Purchase Agreement.

Subject to the satisfaction of certain customary conditions including, without limitation, the effectiveness of a resale registration statement (the "Registration Statement") registering the resale of the shares issuable pursuant to the Purchase Agreement, the Company's right to sell shares to White Lion commenced upon the execution of the Purchase Agreement, and extends until 36 months from the execution of the Purchase Agreement, or until the Company has exercised in full its right to sell shares to White Lion under the Purchase Agreement (the "Commitment Period"). During the Commitment Period, subject to the provisions of the Purchase Agreement, the Company may notify (such notice, a "Purchase Notice") White Lion when the Company exercises its right to sell shares.

The Purchase Notice may be a (i) Fixed Purchase Notice, (ii) Rapid Purchase Notice, or (iii) VWAP Purchase Notice, each as described below.