On October 3, 2022, Eaton Corporation (“ Eaton Corporation”) entered into a Revolving Credit Agreement (the “ 5-Year Credit Agreement”) with Eaton Corporation plc (the “ Company”), Eaton Capital Unlimited Company (“ Eaton Capital”, and together with the Company, Eaton Corporation and certain other subsidiaries of the Company that become eligible borrowers, the “ Borrowers”), certain subsidiaries of the Company as guarantors, certain banks party thereto as lenders and Citibank, N.A. (“ Citibank”), as administrative agent for the lenders. The 5-Year Credit Agreement provides for maximum borrowings of up to $2.5 billion in the aggregate, and replaces and supersedes the existing revolving facility entered into by Eaton Corporation with Citibank as administrative agent on October 4, 2021 with a maturity date of October 4, 2026 (the “ Existing 5-Year Facility”), which provided for maximum borrowings of up to $2.0 billion on substantially similar terms as the 5-Year Credit Agreement. The Borrowers may request commitment increases of up to $750 million under the 5-Year Credit Agreement from existing lenders or additional banks, subject to customary conditions including absence of default and accuracy of representations and warranties under the 5-Year Credit Agreement.

The 5-Year Credit Agreement includes customary negative covenants limiting the Borrowers' and their subsidiaries' ability to incur debt and liens, among others. In addition, under the 5-Year Credit Agreement, the Borrowers will pay a quarterly facility fee that is dependent on Eaton Corporation's credit rating and will range from 5 basis points to 12.5 basis points. The maturity date under the 5-Year Credit Agreement is October 3, 2027.

The Borrowers may request a one-year extension of the maturity date by giving notice to Citibank not more than 60 days' prior to the maturity date then in effect under the 5-Year Credit Agreement. Subject to the absence of any default and the accuracy of representations and warranties in the 5-Year Credit Agreement, the maturity date will be extended if banks holding a majority of the commitments thereunder agree to extend their commitments. Also on October 3, 2022, Eaton Corporation entered into a 364-Day Revolving Credit Agreement (the “ 364-Day Credit Agreement”) with certain other Borrowers, certain subsidiaries of the Company as guarantors, certain banks party thereto as lenders and Citibank as administrative agent for the lenders.

The 364-Day Credit Agreement provides for maximum borrowings of up to $500 million in the aggregate, and replaces and supersedes the existing revolving facility entered into by Eaton Corporation with Citibank as administrative agent on October 4, 2021 with a maturity date of October 3, 2022, which provided for maximum borrowings of up to $500 million in the aggregate (the “ Existing 364-Day Facility”). The 364-Day Credit Agreement is on terms substantially similar to the Existing 364-Day Credit Facility. The Borrowers may request commitment increases of up to $250 million under the 364-Day Credit Agreement from existing lenders or additional banks, subject to customary conditions including absence of default and accuracy of representations and warranties under the 364-Day Credit Agreement.

The 364-Day Credit Agreement includes customary negative covenants limiting the Borrowers' and their subsidiaries' ability to incur debt and liens, among others. In addition, under the 364-Day Credit Agreement, the Borrowers will pay a quarterly facility fee that is dependent on Eaton Corporation's credit rating and will range from 3 basis points to 10 basis points. The termination date under the 364-Day Credit Agreement is October 2, 2023.

The Borrowers may request a conversion of the loans outstanding under the 364-Day Credit Agreement on the termination date into term loans with a maturity date no later than one year following the date of conversion by giving Citibank not less than 10 and not more than 20 business days' notice prior to the termination date under the 364-Day Credit Agreement. The term loan conversion option is subject to the absence of any default, the accuracy of representations and warranties in the 364-Day Credit Agreement and payment of a fee equal to 0.75% of the aggregate principal amount of loans outstanding on the conversion date.