On June 21, 2021, Lincoln National Corporation entered into an amended and restated credit agreement with a syndicate of banks, including Bank of America, N.A. (BOFA"), as administrative agent, and the other lenders named therein. The Amended and Restated Credit Facility amended and restated the Company's existing credit facility agreement, dated as of July 31, 2019, which included extending the maturity date of the agreement, increasing the amount available under the facility, updating the financial covenants and updating provisions relating to the LIBOR Successor Rate. The Amended and Restated Credit Facility, which is unsecured, allows for the issuance of letters of credit and borrowing of up to $2.50 billion and has a commitment termination date of June 19, 2026. Under the Amended and Restated Credit Facility, the company will continue to pay a fee of 0.875% per annum on issued syndicated letters of credit and a facility fee of 0.125% per annum on the aggregate commitment. These fees adjust automatically in the event of a change in credit ratings. The Amended and Restated Credit Facility continues to contain customary terms and conditions, including covenants restricting ability to incur liens, merge or consolidate with another entity where company not the surviving entity and dispose of all or substantially all of assets. The Amended and Restated Credit Facility also continues to include financial covenants including: (i) maintenance of a minimum consolidated net worth equal to the sum of (a) $10.0 billion plus (b) fifty percent (50%) of the aggregate net proceeds of equity issuances received by in accordance with the terms of the Amended and Restated Credit Facility; (ii) a debt-to-capital ratio as defined in accordance with the Amended and Restated Credit Facility not to exceed 0.35 to 1.00; and (iii) a cap on secured non-operating indebtedness and non-operating indebtedness of subsidiaries equal to 7.5% of total capitalization, as defined in accordance with the Amended and Restated Credit Facility.