Humana Inc. Enters into $5 Billion Revolving Credit Agreement with the Several Banks and Other Financial Institutions

On May 30, 2025, Humana Inc. entered into a $5.0 billion unsecured revolving credit agreement with the several banks and other financial institutions from time to time parties thereto, JPMorgan Chase Bank, N.A. as Agent, Bank of America, N.A. as the Syndication Agent, Citibank, N.A., Goldman Sachs Bank USA, PNC Bank National Association, U.S. Bank, National Association and Wells Fargo Securities, LLC, as Documentation Agents, and JPMorgan Chase Bank, N.A., BofA Securities Inc., Citibank, N.A., Goldman Sachs Bank USA, PNC Capital Markets LLC, U.S. Bank, National Association and Wells Fargo Securities, LLC, as Joint-Lead Arrangers and Joint Bookrunners (the ?Revolving Credit Agreement?), which amends and restates that certain existing unsecured revolving credit agreement, dated as of June 2, 2023, with the several banks and other financial institutions from time to time parties thereto, JPMorgan Chase Bank, N.A. as Agent, Bank of America, N.A. as the Syndication Agent, Citibank, N.A., Goldman Sachs Bank USA, PNC Capital Markets LLC, U.S. Bank, National Association and Wells Fargo Securities, LLC, as Documentation Agents, and JPMorgan Chase Bank, N.A., BofA Securities Inc., Citibank, N.A., Goldman Sachs Bank USA, PNC Capital Markets LLC, U.S. Bank, National Association and Wells Fargo Securities, LLC, as Joint-Lead Arrangers and Joint Bookrunners (the ?Existing 5-Year Credit Agreement?). The Revolving Credit Agreement (i) increases the amount of the commitments under the Existing 5-Year Credit Agreement from $2.642 billion to $5.0 billion and (ii) replaces the Company?s existing 364-day $2.1 billion unsecured revolving credit agreement, dated as of May 31, 2024, with the several banks and other financial institutions from time to time parties thereto, JPMorgan Chase Bank, N.A. as Agent, Bank of America, N.A. as the Syndication Agent, Citibank, N.A., Goldman Sachs Bank USA, PNC Capital Markets LLC, U.S. Bank, National Association and Wells Fargo Securities, LLC, as Documentation Agents, and JPMorgan Chase Bank, N.A., BofA Securities Inc., Citibank, N.A., Goldman Sachs Bank USA, PNC Capital Markets LLC, U.S. Bank, National Association and Wells Fargo Securities, LLC, as Joint-Lead Arrangers and Joint Bookrunners, which has expired in accordance with its terms. Loans under the Revolving Credit Agreement bear interest at Term SOFR, Daily Simple SOFR or the base rate plus a spread. The Company will pay an annual facility fee under the Revolving Credit Agreement regardless of utilization.

The Revolving Credit Agreement contains customary covenants, including a maximum debt to capitalization covenant, as well as customary events of default. The terms of the Revolving Credit Agreement also include standard provisions related to conditions of borrowing, including customary representations and warranties. In addition, the Revolving Credit Agreement permits the incurrence up to $1.0 billion of incremental commitments.

As of May 30, 2025, we have no borrowings outstanding under the Revolving Credit Agreement and approximately $14.7 million of issued and undrawn letters of credit under the Revolving Credit Agreement. Accordingly, as of May 30, 2025, we have approximately $4.98 billion of remaining borrowing capacity under the Revolving Credit Agreement.