Lithia Motors amends credit facility to $3.75B, adopts SOFR; signs $1.125B CAD Canadian credit agreement

LITHIA MOTORS INC

Second Amendment to $3.75B credit facility; expansion option to $4.5B; replaces LIBOR with SOFR.
Reallocated commitments: up to $1B used vehicle floorplan, $1B revolving, $1.7B new vehicle floorplan, $50M service loaner.
Real property borrowing base cap increased to $1B; aggregate revolving loan commitment limited to 40% of total.
Canadian Credit Agreement: $1.125B CAD from BNS-led syndicate; includes revolving, wholesale flooring, used vehicle, wholesale leasing, daily rental facilities.
Canadian credit matures June 3, 2025; financial covenants: fixed charge coverage >=1.20x, leverage <=5.75x.

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