On May 16, 2022, Masimo Corporation entered into the First Amendment to the Credit Agreement (the “First Amendment”) with the financial institutions party thereto as incremental lenders, the issuing banks party thereto, and Citibank, N.A., as administrative agent, which amends that certain Credit Agreement, dated as of April 11, 2022 (the “Credit Facility”; as amended by the First Amendment, the “Amended Credit Facility”). The First Amendment provides for an additional $205 million of unsecured revolving commitments (the “Revolver”), increasing the aggregate amount of the Revolver from $500 million to $705 million. Borrowing rates, financial covenants, affirmative and negative covenants and other restricted terms remain unchanged from the Credit Facility.

All unpaid principal under the Amended Credit Facility will be due and payable on April 12, 2027. Proceeds from the increase in the Revolver are expected to be used for general corporate, capital investment, share repurchases and working capital needs.