On February 16, 2023, V.F. Corporation entered into an amendment to its $2.25 billion senior unsecured revolving credit facility that expires November 2026. The Revolver Amendment amends: (x) the definition of Consolidated Net Worth" to include, for any fiscal quarter ending on or prior to September 30, 2026 and solely for purposes of calculating the Consolidated Net Indebtedness to Consolidated Net Capitalization financial covenant (the Financial Covenant"), addbacks for (a) non-cash impairment charges and (b) material impacts resulting from adverse legal rulings relating to certain pending legal proceedings, in each case for the fiscal quarter in which such charges or impacts were recognized and the four immediately succeeding fiscal quarters; provided that the aggregate amount of all such charges and impacts will not exceed USD 850 million and (y) the Financial Covenant ratio levels, such that such ratio will not exceed (a) on or prior to the fiscal quarter ending September 30, 2024, 0.70 to 1.00, (b) thereafter and on or prior to the fiscal quarter ending September 30, 2025, 0.65 to 1.00 and (c) thereafter through maturity, 0.60 to 1.00. On the Amendment Effective Date, the Company entered into an amendment to its $1.0 billion delayed draw Term Loan Agreement that expires December 2024 (the DDTL Amendment").

The DDTL Amendment amends: (x) the definition of Consolidated Net Worth" to include, for any fiscal quarter ending on or prior to September 30, 2026 and solely for purposes of calculating the Consolidated Net Indebtedness to Consolidated Net Capitalization Financial Covenant, addbacks for (a) non-cash impairment charges and (b) material impacts resulting from adverse legal rulings relating to certain pending legal proceedings, in each case for the fiscal quarter in which such charges or impacts were recognized and the four immediately succeeding fiscal quarters; provided that the aggregate amount of all such charges and impacts will not exceed USD 850 million and (y) the Financial Covenant ratio levels, such that such ratio will not exceed (a) on or prior to the fiscal quarter ending September 30, 2024, 0.70 to 1.00, (b) thereafter and on or prior to the fiscal quarter ending September 30, 2025, 0.65 to 1.00 and (c) thereafter through maturity, 0.60 to 1.00.