On July 21, 2023, The Hanover Insurance Group, Inc. (the Company), as Borrower, entered into a Credit Agreement (the New Credit Agreement) with JPMorgan Chase Bank, N.A., as administrative agent, Truist Bank and PNC Bank, National Association, as co-syndication agents, Morgan Stanley Senior Funding, Inc. and Goldman Sachs Bank USA, as co-documentation agents, and JPMorgan Chase Bank, N.A., PNC Capital Markets LLC and Truist Securities, Inc., as joint bookrunners and joint lead arrangers. The New Credit Agreement provides for a five-year unsecured revolving credit facility for the Company not to exceed $150,000,000 at any one time outstanding, with the option to increase the facility up to $300,000,000, in increments of $10,000,000 (assuming no default and satisfaction of other specified conditions, including the receipt of additional lender commitments). The New Credit Agreement also includes an uncommitted subfacility of $50,000,000 for standby letters of credit.

The Company may use the line of credit for general corporate purposes for itself and its subsidiaries. The New Credit Agreement replaces the Credit Agreement dated April 30, 2019, as amended on March 24, 2023, among the Company, JPMorgan Chase Bank, N.A., as administrative agent, and various other lender parties, (the Prior Credit Agreement), which Prior Credit Agreement the Company voluntarily terminated concurrent with the execution of the New Credit Agreement. When a borrowing under the New Credit Facility is an alternative base rate (?ABR?) loan, interest on such a loan is payable quarterly, at a rate per annum equal to the ABR (the greater of (a) the prime commercial lending rate of the administrative agent; (b) the New York Federal Reserve Bank Rate plus 1/2 of 1%; and (c) the Adjusted Term Secured Overnight Financing Rate for a one-month interest period on the applicable date plus 1%, in each case, subject to a 1% floor), plus the applicable margin, which ranges from 0.125% to 0.625%, depending on the Company?s debt rating.

Fees on outstanding letters of credit are payable quarterly, and range from 1.125% to 1.625%, depending on the Company?s debt rating, of the average daily aggregate stated amount of such letters of credit.