The Macerich Company (MAC) and its operating partnership, The Macerich Partnership, L.P., entered into a Second Amended and Restated Credit Agreement on February 24, 2026. This agreement amends and restates a previous credit agreement dated September 11, 2023. It provides for an aggregate $900 million revolving loan facility. The facility matures on March 1, 2029, with an option for the Borrower to extend maturity until March 1, 2030. The Borrower has the ability to increase the facility size up to an aggregate amount of $1.1 billion, subject to lender commitments and other conditions. Loans bear interest at either the Base Rate or Term SOFR plus an applicable margin, which currently ranges from 0.80% to 2.20% over the selected index rate, depending on the company's overall debt yield. Upon achieving certain performance thresholds (net debt to EBITDA ratio), the applicable margin will range from 0.35% to 1.65% over the selected index rate. As of the agreement date, the applicable margin for Base Rate loans was 0.90% per annum and for Term SOFR loans was 1.90% per annum. The agreement includes security in the form of mortgages on certain wholly-owned assets and pledges of equity interests. Financial covenants include maintaining a borrowing base value, minimum total debt yield, minimum fixed charge coverage ratio, and maximum floating rate debt. Upon achieving a certain net debt to EBITDA ratio (Mortgage Security Release Event), the Borrower can cause the release of all mortgages securing the obligations. The proceeds of the loans will be used for Closing Date Payments and general corporate purposes, including working capital needs.