AVNET INC

During the three months ended June 27, 2026, no director or officer of the Company adopted orterminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

On August 12, 2026 (the “Closing Date”), Avnet, Inc. (“Avnet”), as borrower, entered into a Credit Agreement (the “Credit Agreement”) with the lenders party thereto and Bank of America, N.A., as administrative agent. On the Closing Date, Avnet borrowed an aggregate principal amount of $375,000,000 in U.S. dollar-denominated term loans. The term loans mature on July 1, 2028.

The interest rate applicable to the term loans is, at Avnet’s option, either (a) the “base rate” (defined as the highest of (i) the Federal Funds Rate plus 0.50%, (ii) the Bank of America prime rate, (iii) the term secured overnight financing rate (“Term SOFR”) plus 1.00% and (iv) 1.00%) plus an “applicable rate” or (b) Term SOFR plus an “applicable rate.” The applicable rate is determined by reference to the ratings assigned by Moody’s Ratings, Standard & Poor’s Financial Services LLC and Fitch, Inc. to Avnet’s non-credit-enhanced, senior unsecured long-term debt. Under certain circumstances, including while certain events of default exist, the applicable interest rate may be increased by 2.00% per annum.

Avnet is required to comply with certain covenants while the term loans are outstanding. The failure to satisfy any of the covenants or the occurrence of other specified events that constitute an event of default could result in acceleration of Avnet’s repayment obligations under the Credit Agreement.

The description of the Credit Agreement set forth above is only a summary of its material terms and does not purport to be complete, and is qualified in its entirety by reference to the full and complete terms contained in the Credit Agreement, which is filed as Exhibit 10.20 to this Annual Report on Form 10-K and incorporated herein by reference. The Credit Agreement is not intended to be a source of factual, business or operational information about Avnet or its subsidiaries. The representations, warranties and covenants contained in the Credit Agreement were made only for purposes of that agreement and as of specific dates, were solely for the benefit of the parties to that agreement, and may be subject to limitations agreed upon by the parties, including being qualified by disclosures for the purpose of allocating contractual risk among the parties instead of establishing matters as facts. Such representations, warranties and covenants also may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors or security holders. Accordingly, investors should not rely on the representations, warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the parties.

Some or all of the parties to the Credit Agreement, or their affiliates, have in the past provided investment or commercial banking services to Avnet and its affiliates for which they received customary fees and expenses, and they may provide similar services in the future.