On July 25, 2019, Federal Realty Investment Trust (the Trust) entered into an Amended and Restated Credit Agreement, by and among the Trust, as Borrower, the financial institutions party thereto and their permitted assignees, as Lenders, Wells Fargo Bank, National Association, as Administrative Agent (the Administrative Agent), PNC Bank, National Association, as Syndication Agent, and each of Wells Fargo Securities, LLC and PNC Capital Markets, LLC, as Joint Book Managers. The Agreement replaces that certain Credit Agreement, dated as of July 7, 2011 (the Old Agreement), by and among the Trust, as Borrower, and the financial institutions party thereto. The Old Agreement consisted of an $800.0 million unsecured revolving credit facility (the Old Facility) with a maturity date of April 20, 2020. As of June 30, 2019, the Old Facility bore interest at LIBOR plus 82.5 basis points, and the spread over LIBOR was subject to adjustment based on company's credit rating. The Agreement consists of a $1.0 billion unsecured revolving credit facility (the New Facility) with a maturity date of January 19, 2024, subject to two six-month extensions at the option of the Trust. The New Facility initially bears interest at a rate of LIBOR plus 77.5 basis points, and the spread over LIBOR is subject to adjustment based on company's credit rating. Under an accordion feature, the Trust has the option to expand the borrowing capacity under the New Facility to up to $1.5 billion.