On June 28, 2022, Elanco Animal Health Incorporated, Elanco US Inc. and certain subsidiaries of the Company entered into an incremental assumption agreement with Bank of America, N.A., as incremental term lender, each other person party thereto as incremental term lender, and Goldman Sachs Bank USA, as the term facility agent, supplementing and amending the Company's existing credit agreement dated as of August 1, 2020 relating to its senior secured credit facility. The Incremental Assumption Agreement provides for a new incremental term facility under the Credit Agreement in an aggregate principal amount of $175,000,000, to be used to repay outstanding obligations under its revolving facility under the Credit Agreement. The incremental term facility matures on June 30, 2025.

The terms of the new incremental term facility are generally consistent with the terms of the Company's existing term loan facility under the Credit Agreement.