Lockheed Martin extends $3.0B credit facility to 2029, removes leverage ratio covenant; F-35 TR-3 delivery terms agreed

LOCKHEED MARTIN CORP

Amendment extends maturity of $3.0B revolving credit facility from Aug. 2028 to Aug. 2029.
Removes max leverage ratio covenant of 65% from the credit agreement.
Agreement with JPO allows delivery of TR-3 aircraft; JPO withholds partial payment until TR-3 combat capability qualified.
Lockheed making significant investments in development labs and digital infrastructure for F-35 enterprise.
Terms consistent with expectations used in full-year 2024 guidance announced with Q2 earnings.

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