On April 16, 2024, Campbell Soup Company entered into a Five-Year Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders named therein. Subject to the terms and conditions set forth in the Credit Agreement, the lenders have provided the Company with an unsecured, senior revolving credit facility in an aggregate principal amount equal to $1.85 billion, which shall have a maturity date of April 16, 2029 or such later date as extended pursuant to the terms set forth in the Credit Agreement. The Company may increase the credit facility commitments up to an additional $500 million, subject to the satisfaction of certain conditions.

Loans under the Credit Agreement will bear interest at the rates specified in the Credit Agreement, which vary based on the type of loan and certain other conditions. The Credit Agreement contains customary covenants, including a financial covenant with respect to a minimum consolidated interest coverage ratio of consolidated adjusted EBITDA to consolidated interest expense of not less than 3.25:1.00, and customary events of default for credit facilities of this type. The proceeds of the loans under the Credit Agreement may be used for working capital and other general corporate purposes.

The Company and its subsidiaries have relationships with some of the lenders where they provide commercial banking, investment banking, underwriting, trust and other financial advisory services for which they have received (or will receive) customary fees and expenses. The foregoing description of the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the complete text of the Credit Agreement, which is attached as Exhibit 10 and incorporated herein by reference. On April 16, 2024, the Company terminated its Five-Year Credit Agreement, dated September 27, 2021, among the Company, certain of its subsidiaries from time to time party thereto, JPMorgan, as administrative agent, and the other lenders named therein, which established an unsecured, senior revolving credit facility in the aggregate principal amount equal to $1.85 billion (as amended by that certain Amendment No.

1, dated as of April 4, 2023, the ?Old Credit Agreement?). The Old Credit Agreement was terminated in connection with the entry into the Credit Agreement described in Item 1.01 above.