On January 5, 2023, BJ's Wholesale Club Holdings, Inc., BJ's Wholesale Club, Inc. and certain other subsidiaries of the Company entered into an amendment to the First Lien Term Loan Credit Agreement, with Nomura Corporate Funding Americas, LLC, as administrative agent and collateral agent and the lenders party thereto, which amends that certain First Lien Term Loan Credit Agreement, dated as of February 3, 2017. BofA Securities, Inc., Deutsche Bank Securities Inc., and Wells Fargo Securities LLC acted as joint lead arrangers and joint bookrunners of the Third Amendment. The Third Amendment, among other things, extends the maturity date with respect to the term loans outstanding under the First Lien Term Loan Credit Agreement from February 3, 2024 to February 3, 2027.

In addition, the Third Amendment transitions the interest rate, effective immediately, from London Interbank Offered Rate to the Secured Overnight Financing Rate and changes the applicable margin from LIBOR plus 2.00 – 2.25% per annum to SOFR plus 2.75% per annum. As of January 5, 2023, there was $450.0 million outstanding under the First Lien Term Loan Credit Agreement, which reflects the Company's previous repayment of $152.0 million of the principal amount outstanding under the First Lien Term Loan Credit Agreement during the fourth quarter of fiscal year 2022 in connection with the Third Amendment. Certain of the lenders and their affiliates have provided, and they and other lenders and their affiliates may in the future provide, various commercial banking and/or other services in the ordinary course of business for the Company and its subsidiaries from time to time for which they have received, and may in the future receive, customary fees and expenses.