Material Agreement, Financial Obligation (Form 8-K)

Amendment to Credit Agreement

On April 3, 2026, Firefly Aerospace Inc. (the "Company") entered into an amendment (the "Amendment") to its Credit Agreement, dated as of August 8, 2025, by and among the Company, the other loan parties thereto, the lenders and issuing banks party thereto, and Wells Fargo Bank, National Association, as administrative agent (as so amended, the "Credit Agreement").

The Amendment, among other things, increased the existing commitments under the senior secured revolving credit facility (the "Revolving Credit Facility") provided under the Credit Agreement by $45 million, for a total aggregate principal amount of $305 million. The Amendment also increased the interest spread applicable to the loans under the Revolving Credit Facility by 0.25%. After giving effect to the Amendment, the loans under the Revolving Credit Facility bear interest at a variable rate per annum equal to, at the Company's option, either (a) term SOFR plus a 3.25% spread or (b) an alternative base rate (as set forth in the Credit Agreement) plus a 2.25% spread. A commitment fee of 0.375% per annum also applies on unused commitments under the Revolving Credit Facility. The Revolving Credit Facility matures on August 8, 2028.

In addition, the Amendment removed the minimum free cash flow maintenance covenant and adjusted the minimum liquidity maintenance covenant to require $381.25 million of minimum liquidity, tested as of the last day of each calendar month (commencing with the calendar month ending April 30, 2026). The Credit Agreement otherwise contains customary affirmative and negative covenants, including limitations on the Company's ability and certain of the Company's subsidiaries' abilities, to (i) incur additional debt; (ii) create liens; (iii) make certain investments, loans and advances; (iv) sell assets; (v) pay dividends or make distributions or make other restricted payments; (vi) voluntarily prepay certain other indebtedness; (vii) engage in mergers or consolidations; (viii) change the business we and certain of our subsidiaries conduct; (ix) engage in certain transactions with affiliates; (x) enter into agreements that restrict dividends from subsidiaries; and (xi) amend certain charter documents and material agreements governing subordinated and junior indebtedness.

The information provided under Item 1.01 is incorporated by reference into this Item 2.03.