On January 3, 2023, PTC Inc. entered into a Fourth Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A. as Administrative Agent and the Lenders named therein, which Amended Senior Credit Agreement amended and restated in its entirety PTC's existing senior credit facility. Pursuant to the Amended Senior Credit Agreement, all existing revolving commitments under the Existing Credit Agreement were replaced with the revolving commitments under the new revolving credit facility. All capitalized terms used herein without definition have the meanings assigned in the Amended Senior Credit Agreement.

As with the Existing Credit Agreement, PTC expects to use the new revolving credit facility for general corporate purposes of PTC and its subsidiaries, including acquisitions of other businesses, and may also use it for working capital. The new credit facility consists of (i) a $1.25 billion revolving credit facility, (ii) a $500 million term loan credit facility, and (iii) an incremental facility pursuant to which PTC may incur additional term loan tranches or increase its revolving credit facility by an amount of up to (a) the greater of $766 million and 10% of consolidated EBITDA, plus (b) an additional amount subject to a ratio of first lien secured indebtedness to consolidated EBITDA of PTC and its subsidiaries of not greater than 1.75 to 1.00 on a pro forma basis. Each of the revolving credit facility and the term loan credit facility will mature on the earlier of (i) January 3, 2028 (the “Stated Maturity Date”) and (ii) unless PTC's 3.625% senior unsecured notes due 2025 shall previously have been refinanced to mature at least 91 days after the Stated Maturity Date, the date that is 91 days prior to February 15, 2025.

The term loan facility will begin amortizing on the last day of the fifth full calendar quarter following the funding of the term loan facility and will be required to be paid in equal quarterly installments of 0.625% of the aggregate principal amount of the term loan on each of the first four quarterly payment dates, and 1.25% of the aggregate principal amount of the term loan on each quarterly payment date thereafter.