It looks like you are using Macro Express 3. That may confuse some of us trying to help since many macro features are not available in that old version.
To directly answer your question, without trying to figure out your logic, use the Break command to stop a repeat loop. Like this:
Repeat Until %T1% = %T99%
// <Set variables to hh:mm>
If Variable %T1% = variable %T2%
Mouse Move Screen 193, 270
Delay 99 Milliseconds
Mouse Left Button Down
Mouse Left Button Up
Delay 640 Milliseconds
Text Type: TEST EXAMPLE
Delay 185 Milliseconds
Mouse Move Screen 343, 653
Delay 185 Milliseconds
Mouse Left Button Down
Mouse Left Button Up
Break
End If
Repeat End
By the way, I cannot think of a reason you would need to use this command:
Macro Playback Speed: Normal Speed
That is the default behavior - the macro will play back at normal speed without this command.