On May 15, 2024, The Boeing Company (?Boeing?) entered into a $4.0 billion, five-year revolving credit agreement (the ?Agreement?) with Citibank, N.A. (?Citibank?) and JPMorgan Chase Bank, N.A. (?JPMorgan?) as joint lead arrangers and joint book managers, Citibank as administrative agent, JPMorgan as syndication agent, and a syndicate of lenders as defined in the Agreement. Under the Agreement, Boeing will pay a fee between 0.175% and 0.350% per annum on the commitments, depending on Boeing?s credit rating. Borrowings under the Agreement that are based on SOFR will generally bear interest equal to Adjusted Term SOFR (as defined in the Agreement) plus between 1.200% and 1.650% per annum, depending on Boeing?s credit rating.

All other borrowings under the Agreement will bear interest at an annual rate equal to the highest of (1) the rate announced publicly by Citibank, from time to time, as its ?base? rate, (2) the federal funds rate plus 0.50% and (3) Adjusted Term SOFR (as defined in the Agreement) for a one-month tenor in effect on such day plus 1.00%, plus in each of (1), (2) and (3) between 0.200% and 0.650% per annum, depending on Boeing?s credit rating. The Agreement is scheduled to terminate on May 15, 2029, subject to Boeing?s right to extend the term on any anniversary of the closing for one additional year.

The Agreement contains customary terms and conditions, including covenants restricting Boeing?s ability to permit consolidated debt (as defined in the Agreement) in excess of 60% of Boeing?s total capital (as defined in the Agreement), to incur liens, and to merge or consolidate with another entity. Events of default under the Agreement include: (1) failure to pay outstanding principal or interest within five business days of when due, (2) determination that any representation or warranty was incorrect in any material respect when made, (3) failure to perform any other term, covenant or agreement, which failure is not remedied within 30 days of notice, (4) a cross-default with other debt in certain circumstances, (5) the incurrence of certain liabilities under the Employee Retirement Income Security Act and (6) bankruptcy and other insolvency events. If an event of default occurs and is continuing, the lenders would have the right to accelerate and require the repayment of all amounts outstanding under the Agreement and would not be required to advance any additional funds.

Effective May 15, 2024, The three-year revolving credit agreement, dated as of August 25, 2022, which consists of $3.0 billion of total commitments, and Boeing's five-year revolving credit agreement, dated as of August 24, 2023, which consists of $3.0 billion of total commitments, each remain in effect.