On November 28, 2023, The Hagerty Group, LLC entered into a Tenth Amendment to the Amended and Restated Credit Agreement, which amended the terms of its credit facility with JPMorgan Chase Bank, N.A., as administrative agent, the Foreign Subsidiary Borrowers party thereto, and the other financial institutions party thereto as Lenders (the Tenth Amendment"). The Tenth Amendment amends and restates the existing Credit Agreement to provide for additional flexibility in the operations of the Borrower and its subsidiaries including, among others, (i) adding additional baskets for investments, incurrence of indebtedness and liens subject to compliance with a pro forma leverage ratio less than or equal to 3.25x; (ii) for periods on or after June 2024, setting the maximum permitted leverage ratio under the financial maintenance covenant to 3.75x; and (iii) providing for additional indebtedness in the form of either incremental debt on a pari-passu basis or on an asset-backed securitization basis. In the ordinary course of their respective businesses, one or more of the Lenders, or their affiliates, have or may have various relationships with the Company, the Borrower, and their subsidiaries (the "Company Group"), involving the provision of a variety of financial services, including cash management, commercial banking, investment banking, advisory or other financial services, for which they received, or will receive, customary fees and expenses.

In addition, the Company Group may have entered into interest rate and foreign exchange derivative arrangements with one or more Lenders, or their affiliates.