On September 29, 2021, CAI MUFG LLC (the “Borrower”), a wholly-owned subsidiary of CAI International, Inc. (the “Company”), entered into a Credit Agreement (the “Credit Agreement”) with the lenders and group agents from time to time party thereto and MUFG Bank Ltd., as administrative agent (the “Administrative Agent”). The Credit Agreement provides for a revolving credit facility in an aggregate principal amount of $400.0 million, which is secured by certain assets of the Borrower and scheduled to mature on the Payment Date (as defined below) in March 2024, which date will be extended to correspond to the duration of the extension of the Scheduled Termination Date, which is September 29, 2023, in each case, in accordance with the terms of the Credit Agreement. Subject to certain conditions, the Borrower, with the prior written approval of the Administrative Agent, may request an increase in the total aggregate commitment level to $800.0 million. The Company initially drew down $275 million at closing. Each loan which is a base rate loan will bear interest at a rate per annum equal to the base rate plus (i) 1.50% prior to the Conversion Date (as defined in the Credit Agreement), or (ii) 3.00% on or after the Conversion Date (the “Applicable Margin”). Each loan which is a LIBOR rate loan will bear at a rate per annum equal to (i) LIBOR, or a comparable or successor rate, divided by (ii) a number equal to 1.00 minus the Eurocurrency Reserve Rate (as defined in the Credit Agreement) plus the Applicable Margin. Each loan which is a commercial paper loan will bear interest at a rate per annum equal to the CP Rate (as defined in the Credit Agreement) plus the Applicable Margin. The Credit Agreement also contains customary affirmative and negative covenants, financial covenants, representations and warranties, events of default and other provisions.