On March 18, 2022, DCP Midstream, LP entered into the Third Amended and Restated Credit Agreement with Mizuho Bank Ltd. Amongst other changes, the Credit Agreement extended the maturity date of the agreement from December 9, 2024 to March 18, 2027, updated interest rate provisions to term SOFR, implemented a sustainability adjustment margin, and amended the debt covenant with respect to indebtedness attributable to a qualified securitization transaction. The Credit Agreement provides for an unsecured revolving credit facility in an aggregate principal amount of up to $1.4 billion, with an option for the Company to increase the revolving loan commitment by an aggregate principal amount of up to $500 million, subject to requisite lender approval. Loans under the Credit Agreement will be used for working capital and for other general partnership purposes, including acquisitions.

The Credit Agreement has a five-year term and may be extended for up to two additional one-year periods subject to requisite lender approval. The Credit Agreement provides sublimits for swingline loans and for the issuance of letters of credit. Loans under the Credit Agreement accrue interest based, at the Company's election, on either the term SOFR rate or the base rate plus, in each case, an applicable margin.

The applicable margin used in connection with interest rates and fees under the Credit Agreement is based on the Partnership's or the Company's, as applicable, non-credit-enhanced, senior unsecured long-term debt rating at the applicable time. In addition, the Credit Agreement implements a sustainability adjustment (the “ ESG Margin”) to the interest and facility fee payable by the Company that may result in a positive or negative adjustment of up to (a) 0.04% for the applicable margin and (b) 0.01% for the facility fee. The ESG Margin will be calculated based on the Partnership's performance under two metrics: (i) relative change in greenhouse gas emissions of the Partnership and its subsidiaries and (ii) the Partnership's total recordable incident rate compared to its peers.