PCH PotlatchDeltic Corporation

Item 1.01 Entry into a Material Definitive Agreement.

On May 18, 2023, PotlatchDeltic Corporation and its wholly owned subsidiaries, PotlatchDeltic Forest Holdings, Inc. and PotlatchDeltic Land & Lumber, LLC (collectively, the “Borrowers”), entered into a First Amendment to Third Amended and Restated Credit Agreement (the “Amendment”) among KeyBank National Association, as administrative agent (the “Administrative Agent”), and the Lenders party thereto, amending the Third Amended and Restated Credit Agreement dated as of December 14, 2021 among the Borrowers, the Administrative Agent, the Guarantors party thereto and the Lenders party thereto. Capitalized terms used and not otherwise defined herein have the meanings set forth in the Amendment.

The Amendment provides for loans based on the Secured Overnight Financing Rate (“SOFR”), as administered by the Federal Reserve Bank of New York (or a successor administrator of SOFR) instead of the London Inter-Bank Offered Rate (“LIBOR”). In addition, the Amendment provides the option for Borrowers to borrow based on a daily SOFR or term SOFR basis. Further, the Amendment provides mechanics relating to the transition from the use of SOFR to a replacement benchmark rate upon the occurrence of certain transition events.

The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, a copy of which is attached as Exhibit 10.1 hereto and is incorporated herein by reference.