TEAM extends ABL credit facility maturity to September 2027, improves pricing

TEAM INC

Extended maturity of ABL revolver ($130M), term loan ($27.4M) and DDTL ($35M) from Aug 2025 to Sep 2027.
Lowered interest margins: Revolver SOFR margin cut to 3.5%-4.25% (was 4.1%-4.6%); DDTL SOFR cut to 8.5%-10% (was flat 10%).
Expanded borrowing base via increased advance rates; $7.5M minimum availability springing covenant if FCCR falls below thresholds.
CEO says improved operations enabled better terms; ABL renewal is 'first step' toward further capital structure improvements.

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