On June 22, 2022, Alleghany Corporation entered into the First Amendment to Credit Agreement related to the credit agreement, dated as of July 31, 2017, among the Company, the lenders which are signatories thereto and U.S. Bank National Association, as administrative agent for the lenders. The Credit Agreement provides for an unsecured revolving credit facility in an aggregate principal amount of up to $300 million. The Amendment extends the maturity date of the Credit Agreement from July 31, 2022 to July 31, 2023.

The Amendment also amends the Credit Agreement, among other things, to change the benchmark rate from the London Interbank Offered Rate (LIBOR) to the secured overnight financing rate as administered by the Federal Reserve Bank of New York (SOFR). All other material terms and conditions of the Credit Agreement remain in full force and effect.