On December 31, 2019, Avangrid, Inc., entered into a $500,000,000 term loan agreement with certain lenders from time to time a party thereto and MIZUHO BANK, LTD., as administrative agent, that provides for maximum borrowing of up to $500,000,000 in the aggregate. The Loan Agreement contains certain negative covenants, including one that sets the ratio of maximum allowed consolidated debt to consolidated total capitalization at 0.65 to 1.00, for the Company. The termination date for the Loan Agreement is June 30, 2021. The description above is only a summary of the material provisions of the Loan Agreement and does not purport to be complete and is qualified in its entirety by reference to the provisions in such Loan Agreement.