CREDIT AGREEMENT

When the limit steps, and which way the company's ratio has been moving.

4.25x2.07x-0.11x

Signed Jul 15, 2026

Committed: $65m
Matures: Jul 2029
Agent: HSBC Bank USA, National Association

Tranche	Size	Matures	Margin
Revolving credit facility	$65m	Jul 2029	200–275 bps

Priced over Term SOFR, floor 0 bps (Revolving credit facility).

Level	Condition	Margin	Unused fee
Level I	Greater than or equal to 3.00 to 1.00	275 bps	n/a
Level II	Greater than or equal to 2.25 to 1.00 but less than 3.00 to 1.00	250 bps	n/a
Level III	Greater than or equal to 1.00 to 1.00 but less than 2.25 to 1.00	225 bps	n/a
Level IV	Less than or equal to 1.00 to 1.00	200 bps	n/a

Lenders: HSBC Securities (USA) Inc., HSBC Bank USA, National Association, City National Bank

CovenantTestedHeadroomLimit now

Tested quarterly78.4%ratio 0.81x, estimated, vs 3.75x limit in force at Jun 30, 20263.75x

The Borrower shall not permit the ratio of Net Funded Debt to EBITDA, for the four (4) fiscal quarter period then-ended, measured as of the end of each fiscal quarter (commencing with the fiscal quarter ending June 30, 2026), to be more than 3.75 to 1.00.

Read the filing on sec.gov ↗

Tested quarterlyHeadroom not yet measured1.10x

The Borrower shall not permit the Fixed Charge Coverage Ratio for the four (4) fiscal quarter period then-ended, measured as of the end of each fiscal quarter (commencing with the fiscal quarter ending June 30, 2026), to be less than 1.10 to 1.00.

Read the filing on sec.gov ↗

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