Alaska Air Group issues $500M senior notes and adds $500M term loan facility

ITEM 1.01 Entry Into a Material Definitive Agreement Indenture Governing Senior Notes On May 12, 2026, Alaska Airlines, Inc. (“ Alaska ”) issued and sold $500 million aggregate principal amount of 6.500% senior notes due 2031 (the “ Notes ”) pursuant to an Indenture dated as of May 12, 2026, by and between Alaska and U.S. Bank Trust Company, National Association (the “ Base Indenture ”), as supplemented by the First Supplemental Indenture dated as of May 12, 2026 by and among Alaska, Alaska Air Group, Inc. (the “ Company ”), as guarantor, and U.S. Bank Trust Company, National Association, as trustee (the “ First Supplemental Indenture ” and together with the Base Indenture, the “ Indenture ”).

On May 12, 2026, AS Mileage Plan IP Ltd. (the “ Borrower ”), an exempted company incorporated with limited liability under the laws of the Cayman Islands and an indirect wholly owned subsidiary of the Company, entered into an amendment to the Term Loan Credit and Guaranty Agreement, dated as of October 15, 2024 (the “ Existing Term Loan Agreement ”) by and among the Borrower, and the Company, Alaska and AS Mileage Plan Holdings Ltd., an exempted company incorporated with limited liability under the laws of the Cayman Islands, as guarantors, Bank of America, N.A., as administrative agent, and the lenders party thereto from time to time, pursuant to which the Borrower incurred a new incremental class of $500 million in senior secured term loans (the “ Incremental Term Loan Facility ”) under the Existing Term Loan Agreement.