On December 20, 2023, EMCOR Group, Inc. (the ?Company?), EMCOR Group (UK) plc., a wholly-owned subsidiary of the Company (?EMCOR UK?), and the other Borrowers and Guarantors (each as defined therein) party thereto entered into the Seventh Amended and Restated Credit Agreement (the ?Credit Agreement Restatement?) dated as of December 20, 2023 with Bank of Montreal, as Agent, and certain other lenders listed on the signature pages thereof. The Credit Amendment amends and restates the Sixth Amended and Restated Credit Agreement (the ?2020 Credit Agreement?) dated as of March 2, 2020, as amended by the First Amendment to Sixth Amended and Restated Credit Agreement (the ?Amendment to Credit Agreement?) dated as of April 28, 2023 (the Prior Credit Agreement, as amended by the Amendment to Credit Agreement, the ?Existing Credit Agreement? and, as amended and restated by the Credit Agreement Restatement, the ?2023 Credit Agreement?), among the Company, EMCOR UK, Bank of Montreal, as Agent, and the lenders from time to time party thereto (collectively, the ?Lenders?).

The 2023 Credit Agreement provides for a $1.30 billion five year revolving credit facility under which the Company may borrow up to $1.30 billion and EMCOR UK may borrow up $100.0 million. The Company has the ability to increase the revolving credit facility by up to an additional amount equal to the greater of (a) $900 million and (b) the Company?s Adjusted EBITDA (as such term is defined in the 2023 Credit Agreement) for the twelve-month period then ended. Such increase will be accommodated by either existing lenders (if they so choose) and/or new eligible lenders.

The 2023 Credit Agreement contains customary financial covenants, representations and warranties and events of default. The Company?s obligations under the 2023 Credit Agreement are guaranteed by substantially all of its U.S. subsidiaries and secured by substantially all of the assets of the Company and the guarantors, in each case, subject to certain customary exceptions. All outstanding borrowings under the 2023 Credit Agreement and not sooner paid are due upon expiration of the Credit Agreement on December 20, 2028.

Borrowings bear interest, at the Company?s option, at a rate per annum ranging from 1.125% to 1.875% over the term secured overnight financing rate or 0.125% to 0.875% over the base rate, in each case, depending on the Company?s Leverage Ratio (as defined in the 2023 Credit Agreement). Certain of the Lenders and other parties to the 2023 Credit Agreement Restatement and the Existing Credit Agreement, or their affiliates, have provided and in the future may provide, commercial banking, underwriting, lending, investment banking and financial advisory services in the ordinary course of business to the Company, its subsidiaries and certain of its affiliates, for which such Lenders, other parties and/or their affiliates may receive customary fees and commissions.