On December 23, 2022 (the “ Closing Date ”), Align Technology, Inc. entered into a Second Amendment to Credit Agreement, which amends the company's Credit Agreement, dated as of July 21, 2020, among the company, certain subsidiaries of the company that may become party thereto from time to time as guarantors, the lenders party thereto from time to time and Citibank, N.A., as administrative agent (as amended by the First Amendment to Credit Agreement, dated as of April 21, 2022, and as further amended by the Amendment the “ Credit Agreement ”). After giving effect to the Amendment, the Credit Agreement continues to provide for a $300.0 million unsecured revolving credit facility with a $50.0 million letter of credit subfacility. As of the Closing Date, the Company had no revolving loans or letters of credit outstanding under the Credit Agreement.

Among other things, the Amendment amends the Credit Agreement in order to (i) extend the expiration date of the commitments under the Credit Agreement from July 21, 2023 to December 23, 2027, (ii) remove the requirement that the Company comply with a minimum consolidated interest coverage ratio financial covenant for quarters ending after the effective date of the Amendment, (iii) increase the maximum consolidated total leverage ratio that the Company must comply with from 3.00 to 1.00 to 3.50 to 1.00, (iv) amend the interest rate provisions to replace the existing LIBOR benchmark interest rate with an adjusted term SOFR benchmark interest rate, (v) provide for the applicable margin for SOFR loans to a range of 0.875% to 1.375% and reduce the applicable margin for base rate loans to a range of 0.000% to 0.375%, in each case based on the Company's consolidated total leverage ratio and (vi) reduce the benchmark interest rate floor from 1.00% to 0.00%. The administrative agent and the other lenders have engaged in, and may in the future engage in, other commercial dealings in the ordinary course of business with the Company or its affiliates. The administrative agent and the other lenders have received, or may in the future receive, customary fees and commissions for such transactions.