On November 5, 2025, Queen HoldCo, LLC and QXO Building Products Inc., each a wholly owned subsidiary of QXO Inc., entered into that certain Incremental Assumption and Amendment Agreement No. 1, by and among Holdings, the Borrower, the subsidiary loan parties party thereto, the lenders party thereto and Goldman Sachs Bank USA, as administrative agent (the ?Administrative Agent?), which amends and restates that certain Term Loan Credit Agreement, dated as of April 29, 2025 (the ?Existing Credit Agreement?), by and among Holdings, the Borrower, the lenders party thereto, the Administrative Agent and the other parties named therein (as amended and restated by the Credit Agreement Amendment, the ?Amended and Restated Credit Agreement?).   The Amended and Restated Credit Agreement reduces the applicable margin on the Borrower?s existing $850.0 million senior secured term loan B facility from 3.00% to 2.00% for term SOFR borrowings and from 2.00% to 1.00% for base rate borrowings.