These rates are subject to downward adjustment in the event that the Company achieves a certain level of EBITDA and based on the amount of the Company's average daily excess availability. As a SOFR loan, the term loan under the amended credit agreement will bear interest at SOFR plus 2.75% per annum. Additional information about the fifth amendment to the Company's credit agreement is contained in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on June 5, 2023. About The Children's Place The Children's Place is the largest pure-play children's specialty apparel retailer in North America. The Company designs, contracts to manufacture, sells at retail and wholesale, and licenses to sell fashionable, high-quality merchandise predominantly at value prices, primarily under the proprietary "The Children's Place", "Place", "Baby Place", "Gymboree", "Sugar & Jade" and "PJ Place" brand names.