MAA: Material agreement

Item 1.01. Entry into a Material Definitive Agreement. On June 22, 2026, Mid-America Apartments, L.P. (“MAALP”), the operating partnership of Mid-America Apartment Communities, Inc. (“MAA”), entered into a Term Loan Agreement (the “Loan Agreement”) with KeyBank National Association, as Administrative Agent, Keybanc Capital Markets Inc., Wells Fargo Securities, LLC, TD Bank, N.A. and Regions Capital Markets, as Joint Lead Arrangers and Joint Bookrunners, Wells Fargo Bank, National Association, TD Bank, N.A. and Regions Bank, as Co-Syndication Agents, JPMorgan Chase Bank, N.A. Mizuho Bank, LTD., PNC Bank, National Association, Truist Bank and U.S. Bank National Association, as Co-Documentation Agents, and the lenders party thereto. The Loan Agreement provides an unsecured delayed draw term loan (the “DDTL Facility”) in the aggregate committed principal amount of up to $350 million. MAALP intends to use proceeds for general corporate purposes, including repayment of other debt. Advances of loans under the DDTL Facility may be requested by MAALP in one or more draws (subject to a maximum of five draws) and will be available until December 21, 2026 (the “Commitment Expiration”) unless earlier terminated under the Loan Agreement. The Loan Agreement is scheduled to mature on November 15, 2030. The amounts due under the Loan Agreement may be prepaid, in whole or in part, subject to payment of applicable breakage fees. Amounts borrowed under the Loan Agreement may not be reborrowed after repayment. Amounts borrowed under the Loan Agreement will bear interest at a variable rate, at MAALP’s election, either (1) based upon the Secured Overnight Financing Rate (SOFR) plus an applicable margin ranging from 0.675% to 1.55% based upon MAALP’s credit rating or (2) at the base rate set f