ADTN · ADTRAN Holdings, Inc.

ADTRAN Holdings, Inc. entered into a new Credit Agreement dated July 21, 2026, providing up to $350 million in revolving credit capacity. The facility is split between a US Dollar Facility and a Eurocurrency sub-facility, with the German borrower limited to $50 million. The agreement replaces the existing Wells Fargo facility and is secured by substantially all assets of ADTRAN Holdings, ADTRAN Inc., and certain subsidiaries, plus a pledge of shares in Adtran Networks SE. Pricing is based on consolidated total net leverage, with margins ranging from 1.25% to 3.25%. The facility includes financial covenants such as a maximum secured leverage ratio of 3.25x and a minimum fixed charge coverage ratio of 1.25x, with a springing liquidity covenant of $50 million. This refinancing extends the company's debt maturity profile and provides additional flexibility for general corporate purposes. The prior credit agreement and related collateral documents were terminated concurrently.