On December 14, 2021, PotlatchDeltic Corporation and its wholly owned subsidiaries PotlatchDeltic Forest Holdings, Inc. and PotlatchDeltic Land & Lumber, LLC (collectively, the "Borrowers"), entered into a Third Amended and Restated Credit Agreement among KeyBank National Association, as Administrative Agent, L/C Issuer and Swing Line Lender, the Guarantors from time to time party thereto and the Lenders from time to time party thereto (the "Credit Agreement"), amending and restating their existing Amended and Restated Credit Agreement dated as of February 14, 2018 among the Borrowers, the Administrative Agent, L/C Issuer and Swing Line Lender, the Guarantors from time to time party thereto and the Lenders from time to time party thereto. Capitalized terms used and not otherwise defined herein have the meanings set forth in the Credit Agreement. Under the Credit Agreement, the lenders have agreed to extend revolving loans to the Borrowers in an initial aggregate principal amount not to exceed $300 million, which may be increased by up to an additional $500 million of principal amount. The Credit Agreement includes a sublimit of $75 million for the issuance of standby letters of credit and a sublimit of $25 million for swing line loans. The Credit Agreement is an unsecured 62-month revolving facility, with a stated maturity date of February 14, 2027. The Credit Agreement contains covenants that, among other things, limit the Borrowers’ ability to create liens, merge or consolidate, dispose of assets, incur indebtedness and guarantees, repurchase or redeem capital stock and indebtedness, make certain investments and acquisitions, enter into certain transactions with affiliates or change the nature of the Borrowers' business. The Credit Agreement contains financial covenants including (a) the maintenance of an Interest Coverage Ratio (a ratio of consolidated EBITDDA to consolidated interest expense) of at least 3.00 to 1.00, and (b) a Leverage Ratio (a ratio of total consolidated funded indebtedness to the consolidated value of timberlands and other defined assets) of no more than 40%, except that, no more than twice during the term of the Credit Agreement, the Leverage Ratio may increase to 50% for two consecutive quarters if the circumstances causing such ratio to exceed 40% occurred in the ordinary course of business.