ADP amends 364-day credit agreement, extending termination date to July 1, 2022

AUTOMATIC DATA PROCESSING INC

Extension of termination date for consenting lenders to July 1, 2022 under existing $3.75B 364-day facility; no change in commitment amount.
Amends interest rate benchmarks from LIBOR to SOFR-based rates (Adjusted Daily Simple SOFR and Adjusted Term SOFR Rate).
Amendment executed on June 7, 2022 with lenders including JPMorgan, Bank of America, BNP Paribas, Wells Fargo, and others.
Proceeds for general corporate purposes, including refinancing of existing indebtedness.

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