Unum Group

Securities trading plans

During the three months ended March 31, 2025, no director or officer of the Company adopted orterminated a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement.

Credit Facility

On April 29, 2025, Unum Group, a Delaware corporation (Unum), entered into a Third Amended and Restated Credit Agreement (the Third Amended & Restated Credit Agreement) among Unum and certain of its wholly-owned subsidiaries, Unum Life Insurance Company of America, Provident Life and Accident Insurance Company, and Colonial Life & Accident Insurance Company (together with Unum, the Borrowers), the Lenders named therein, Wells Fargo Bank, National Association, as Administrative Agent, L/C Agent, a Fronting Bank and Swingline Lender, Bank of America, N.A. and JPMorgan Chase Bank, N.A., as Co-Syndication Agents, and Barclays Bank PLC, Goldman Sachs Bank USA, PNC Bank, National Association, The Bank of New York Mellon, Truist Bank, and U.S. Bank National Association, as Co-Documentation Agents. The Third Amended & Restated Credit Agreement amended and restated Unum’s existing Second Amended and Restated Credit Agreement, dated as of April 15, 2022, as amended by the First Amendment thereto, dated November 30, 2023.

The Third Amended & Restated Credit Agreement provides for a $500 million senior unsecured revolving credit facility for the Borrowers, with no sublimit on letters of credit and a $80 million swingline loan commitment. As of April 29, 2025, letters of credit totaling $0.4 million had been issued, but there were no borrowed amounts outstanding under the Third Amended & Restated Credit Agreement. The proceeds of loans made under the Third Amended & Restated Credit Agreement may be used for working capital and general corporate purposes of the Borrowers and their subsidiaries.

The Borrowers may borrow, repay and reborrow loans under the Third Amended & Restated Credit Agreement until April 29, 2030 (the Commitment Termination Date), at which time the commitments will terminate and all outstanding loans, together with all accrued and unpaid interest, must be repaid. Amounts not borrowed under the Third Amended & Restated Credit Agreement will be subject to a commitment fee ranging from 0.100% to 0.250% per annum, determined based on the credit ratings for Unum’s senior unsecured long-term debt.

The Third Amended & Restated Credit Agreement permits Unum to request increases in the aggregate commitments under the Third Amended & Restated Credit Agreement from time to time up to an additional $200 million. Unum also may request on up to two occasions that the Commitment Termination Date of each Lender under the Third Amended & Restated Credit Agreement be extended by one year.

Revolving loans under the Third Amended & Restated Credit Agreement bear interest, at the option of the applicable Borrower, at the base rate plus a spread of 0.125% to 0.875% or an adjusted term secured overnight financing rate (SOFR) (based on an interest period of one, three or six months) plus a spread of 1.125% to 1.875%, in each case, with such spread being determined based on the credit ratings for Unum’s senior unsecured long-term debt. The base rate means the highest of the prime rate, the federal funds rate plus a margin equal to 0.5%, and the adjusted term SOFR rate for a 1-month interest period plus a margin equal to 1.0%. Unum is also obligated to pay other customary closing fees, arrangement fees, administrative fees, commitment fees and letter of credit fees for a credit facility of this size and type.

The Third Amended & Restated Credit Agreement contains customary affirmative and negative covenants, including covenants that limit or restrict Unum and its subsidiaries’ ability to, among other things, wind up or dissolve, consolidate or merge, dispose of substantially all assets of Unum and its subsidiaries, taken as a whole, incur subsidiary indebtedness, grant liens, enter into certain transactions with affiliates, and pay dividends or make distributions in respect of, or acquire for value shares of, their equity interests, in each case subject to customary exceptions for a credit facility of this size and type. The Third Amended & Restated Credit Agreement also includes financial covenants, requiring Unum to maintain compliance with a maximum total leverage ratio (consolidated indebtedness to total capitalization) and a minimum consolidated net worth amount, each determined in accordance with the terms of the Third Amended & Restated Credit Agreement. The Third Amended & Restated Credit Agreement includes customary events of default.

The foregoing description of the Third Amended & Restated Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Third Amended & Restated Credit Agreement, a copy of which will be filed as an exhibit to Unum’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025.