Under Armour (UA) Prices $400M Notes Offering

Under Armour, Inc. (NYSE: UA, UAA) today announced that it has priced $400 million aggregate principal amount of its 7.250% Senior Notes due 2030 (the "Notes") at par, in a private offering (the "Offering") exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). The sale of the Notes is expected to close on June 23, 2025, subject to customary closing conditions.

The Notes will be senior, unsecured obligations of Under Armour, bearing interest semiannually in arrears. The Notes will be guaranteed on a senior unsecured basis by Under Armour's subsidiaries that provide guarantees under its amended revolving credit agreement.

Under Armour intends to use the net proceeds from the Offering together with borrowings under its amended revolving credit agreement, cash on hand or a combination thereof to redeem, repurchase, or otherwise retire the $600 million in aggregate principal amount of its outstanding 3.25% Senior Notes due 2026 (the "2026 Notes") in full or deposit with the trustee all amounts necessary to satisfy and discharge Under Armour's obligations under the 2026 Notes through maturity, in each case within 60 days of the closing date of this Offering.

This announcement is neither an offer to sell nor a solicitation of an offer to buy the Notes or the related guarantees. Any offers of the Notes and the related guarantees will be made only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and to certain persons in transactions outside the United States in reliance on Regulation S under the Securities Act.

The offer and sale of the Notes and the related guarantees have not been, and will not be, registered under the Securities Act, or the securities laws of any jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements of the Securities Act and the rules promulgated thereunder.

This announcement does not constitute a notice of redemption under the indenture of the 2026 Notes, or an offer to tender for, or purchase, any of the 2026 Notes or any other security.

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