Franklin Electric Co., Inc. has entered into a Fifth Amended and Restated Credit Agreement, effective May 14, 2025, extending its previous credit agreement with a maturity date now set for May 14, 2030. The agreement, involving JPMorgan Chase Bank, N.A. as the administrative agent and Bank of America, N.A. as the syndication agent, maintains the revolving commitment amount at $350 million. However, the Borrowers, including Franklin Electric and Franklin Electric B.V., have the option to increase the aggregate revolving commitments by up to $175 million, not exceeding a total commitment of $525 million. The agreement includes both affirmative and negative covenants, with financial covenants requiring a maximum leverage ratio of 3.50 to 1.00 and an interest coverage ratio of at least 3.00 to 1.00. All present and future material domestic subsidiaries of Franklin Electric unconditionally guaranty the obligations under this agreement, ensuring significant financial flexibility and stability for the company.