On August 24, 2022, Lockheed Martin Corporation (the “Company”) entered into a new Revolving Credit Agreement (the “Revolving Credit Agreement”), among the Company, as borrower, the lenders listed therein (the “Lenders”), JPMorgan Chase Bank, N.A., as syndication agent, Citibank, N.A., Crédit Agricole Corporate and Investment Bank, Mizuho Bank Ltd. and Wells Fargo Bank, National Association, as documentation agents, and Bank of America, N.A. (“BofA”), as administrative agent. The Revolving Credit Agreement consists of a $3.0 billion five-year unsecured revolving credit facility, with the option of the Company to increase the commitments under the credit facility by an additional amount of up to $500 million (for an aggregate amount of up to $3.5 billion), subject to the agreement of one or more new or existing lenders to provide such additional amounts and certain other customary conditions. The Revolving Credit Agreement is available for any lawful corporate purposes of the Company, including supporting commercial paper borrowings.

The Revolving Credit Agreement replaces the Company's revolving credit agreement dated as of August 24, 2021 (the “Former Credit Agreement”), among the Company, the lenders listed therein, BofA, as administrative agent, and the other parties thereto, which had been scheduled to mature on August 24, 2026. The Former Credit Agreement, which had a total capacity of $3.0 billion and was undrawn, was terminated effective August 24, 2022. The Revolving Credit Agreement matures on August 24, 2027, however, the Company may request that commitments be renewed for additional one-year periods under certain circumstances as set in the Revolving Credit Agreement.

Borrowings under the Revolving Credit Agreement are unsecured and bear interest at rates, based, at the Company's option, on (x) the “Base Rate” of interest in effect, (y) “Term SOFR”, which is a periodic fixed rate based on the Secured Overnight Financing Rate as administered by the Federal Reserve Bank of New York (“SOFR”) with a term equivalent to the interest period for such borrowing, plus an adjustment of 0.10%, plus the “Term SOFR Margin”, or (z) a rate determined by a competitive bid process with a margin over or under the applicable Term SOFR or at an absolute rate. The “Base Rate” of interest is the highest of (i) the Federal Funds Rate plus 0.50%, (ii) BofA's prime rate, and (iii) Term SOFR for a one month interest period plus 1.00%. The “Term SOFR Margin” ranges from 0.565% to 1.00% per annum based upon the Company's senior unsecured long-term debt securities credit ratings (the “Credit Ratings”).

A facility fee accrues and is payable quarterly in arrears at a rate ranging from 0.06% to 0.125% per annum (based upon the Company's Credit Ratings) on the aggregate commitments under the Revolving Credit Agreement.