On September 28, 2021, Howmet Aerospace Inc. announced the amended and restated its Five-Year Revolving Credit Agreement (the “Amendment and Restatement”), dated as of July 25, 2014 (as amended and extended by the letter agreement, dated as of June 5, 2015, and as further amended pursuant to Amendment No. 1, dated as of September 16, 2016, Amendment No. 2, dated as of June 29, 2018, Amendment No. 3, dated as of March 4, 2020, Amendment No. 4, dated as of June 26, 2020 and Amendment No. 5, dated as of March 29, 2021, the “Existing Credit Agreement” and the Existing Credit Agreement, as amended by the Amendment and Restatement, the “Credit Agreement”), by and among the Company, a syndicate of lenders and issuers named therein, Citibank, N.A., as administrative agent for the lenders and issuers, and JPMorgan Chase Bank, N.A., as syndication agent. Among other changes, the Amendment and Restatement extends the maturity date to September 28, 2026; increases the dollar baskets for Restricted Payments (as defined in the Credit Agreement) during the Covenant Relief Period (as defined in the Credit Agreement) to $450 million (from $250 million) during the fiscal year ending December 31, 2021 and to $500 million (from $400 million) during the fiscal year ending December 31, 2022 plus any amount that remains unused as of December 31, 2021; reduces certain fees payable in connection with the credit facility; and adds an additional credit rating agency to the Index Debt Ratings (as defined in the Credit Agreement) pursuant to which the interest rate is determined. In addition, it makes certain changes to the Existing Credit Agreement in connection with the cessation of LIBOR.