Item 1.01 Entry into a Material Definitive Agreement.

Incremental Revolving Loan Commitments

On January 11, 2022, Garrett Motion Inc. (the "Company") entered into an Amendment No. 1 (the "First Amendment") to that certain Credit Agreement, dated as of April 30, 2021, by and among the Company, Garrett LX I S.à r.l., Garrett Motion Holdings Inc., Garrett Motion Sàrl (the "Swiss Borrower"), the lenders and issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent (the "Credit Agreement", and as amended by the First Amendment, the "Amended Credit Agreement").

The First Amendment increases the amount of revolving loan commitments available to the Swiss Borrower under the Credit Agreement by $124,250,000 (the "Incremental Revolving Commitment") to an aggregate amount of $424,250,000. The Incremental Revolving Commitment has the same terms and is subject to the same conditions applicable to revolving loans generally under the Credit Agreement, except for fees paid in connection with the arrangement of the increased amount.

The First Amendment also implements certain changes to benchmark and successor rates applicable to revolving loans under the Credit Agreement, including removal of rates by reference to London Interbank Offered Rate (LIBOR) and the Central Bank Rate and the addition of a rate based on the average bid reference rate administered by ASX Benchmarks Pty Limited and displayed on the applicable BBSY page of the Reuters screen and term or daily overnight secured overnight financing rate (SOFR) published by the Federal Reserve Bank of New York.

The above description of the terms of the First Amendment and the Amended Credit Agreement is qualified in its entirety by reference to the full text of the Amended Credit Agreement, a copy of which will be filed as an exhibit to the Company's annual report on Form 10-K.


 Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an

           Off-Balance Sheet Arrangement.

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







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