Alexander & Baldwin Amends Credit Facility, Adds $200 Million Term Loan to Support Strategic Growth (Form 8-K)

Alexander & Baldwin Amends Credit Facility,
Adds $200 Million Term Loan to Support Strategic Growth

HONOLULU (November 6, 2025) /PRNewswire/- Alexander & Baldwin, Inc. (NYSE: ALEX) (the "Company") today announced the amendment of its unsecured revolving credit facility, maintaining its existing $450 million borrowing capacity and executing a new $200 million term loan facility to further strengthen its capital structure and financial flexibility.

The terms of the amendment are generally consistent with the preceding revolving credit facility and include the addition of the new term loan facility. At closing, the Company drew the full $200 million term loan and used the proceeds to repay the $191 million outstanding balance on the revolving credit facility. The term loan matures on November 3, 2030. This reallocation from the revolver to a long-term loan replenishes the Company's revolving capacity, lowers its cost of capital, and extends the weighted average maturity of its borrowings.

To align its debt structure with long-term strategy, the Company entered into interest rate swap agreements that lock in the full $200 million term loan through maturity. Based on the current applicable spread, these swaps result in an all-in weighted average fixed rate of 4.69%.

"This amendment to the revolving credit facility strengthens Alexander & Baldwin's balance sheet by increasing liquidity and reducing interest expense, while extending the weighted average maturity of our borrowings by approximately one year," said Clayton Chun, Executive Vice President, CFO & Treasurer. "These enhancements improve our financial flexibility and better position us to advance our strategic growth initiatives."

ABOUT ALEXANDER & BALDWIN

Alexander & Baldwin, Inc. (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 4.0 million square feet of commercial space in Hawai'i, including 21 retail centers, 14 industrial assets, and four office properties, as well as 146 acres of ground lease assets. Over its 155-year history, A&B has evolved with the state's economy and played a leadership role in the development of the agricultural, transportation, tourism, construction, residential and commercial real estate industries.

Learn more about A&B at www.alexanderbaldwin.com.

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Investor Contact:

Clayton Chun

(808) 525-8475

[email protected]

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