HUBB: Material agreement · New financial obligation

Item 1.01 Entry into a Material Definitive Agreement. On May 15, 2026, Hubbell, as borrower, entered into a Term Loan Agreement (the “Term Loan Agreement”) with a syndicate of lenders and JPMorgan Chase Bank, N.A., as administrative agent. The Term Loan Agreement provides Hubbell with the ability to borrow up to $900 million on an unsecured basis to finance the NSI Acquisition, repay certain existing indebtedness of NSI and pay fees, costs and expenses in connection with the foregoing. The availability of the loans under the Term Loan Agreement is subject to the satisfaction (or waiver) of certain conditions set forth therein, including the consummation of the NSI Acquisition concurrently with the funding of such loans. The loans under the Term Loan Agreement will be available in a single borrowing on the closing date of the NSI Acquisition and will be due and payable on the third anniversary of the date of such borrowing. The loans under the Term Loan Agreement will bear interest based on the Alternate Base Rate or the Term SOFR Rate (each as defined in the Term Loan Agreement), plus an applicable interest addition based on Hubbell’s credit ratings. Hubbell will pay to the lenders certain customary fees under the Term Loan Agreement. The Term Loan Agreement contains representations and warranties and affirmative and negative covenants customary for unsecured financings of this type, as well as a financial covenant requiring that, as of the last day of each fiscal quarter, commencing with the first fiscal quarter-end date occurring on or after the effective date of the Term Loan Agreement, the ratio of total indebtedness to total capitalization shall not be greater than 65%. An event of default under the Term Loan Agreement may be triggered by, among other things, a fai