Gray Media, Inc. (the "Company") entered into a Sixth Amendment to its Fifth Amended and Restated Credit Agreement (the "Senior Credit Facility") on March 31, 2026. The Sixth Amendment amended and restated the Senior Credit Facility in its entirety but did not change commitments under the Revolving Credit Facility, principal amounts of Term Loans, or stated maturities. No new borrowings were incurred in connection with the Sixth Amendment. The Revolving Credit Facility bears interest based on Term SOFR plus an applicable margin ranging from 1.75%-2.75% or the Base Rate plus an applicable margin ranging from 0.75%-1.75%, determined by a leverage ratio. A commitment fee on the average daily unused portion of the Revolving Credit Facility ranges from 0.250% to 0.400% per annum, also based on the Consolidated First Lien Net Leverage Ratio. Term D Loans bear interest at Term SOFR plus 3.00% (plus a credit spread adjustment) or Base Rate plus 2.00%. Term F Loans bear interest at Term SOFR plus 5.25% or Base Rate plus 4.25%. Quarterly principal reductions of $3.750 million for the Term D Loan and $1.250 million for the Term F Loan have been prepaid in advance. The Company provided notice to lenders of its intention to repay the remaining $10 million outstanding principal amount under the Term F Loan in full on April 2, 2026. The Company's obligations under the Senior Credit Facility continue to be secured by substantially all of its assets and those of its wholly-owned subsidiaries (excluding real estate, unrestricted, and securitization subsidiaries). The Senior Credit Facility contains affirmative and restrictive covenants, including limitations on additional indebtedness, liens, asset sales, investments, dividends, share repurchases, mergers, and maintenance of a first lien net leverage ratio not to exceed certain maximum limits.