9. Subsequent Events

On May 9, 2025, we entered into an amendment to the Credit Agreement with Wells Fargo Bank originally dated as of January 19, 2023 in order to facilitate issuance of $360 million aggregate principal of 10.000% senior secured notes due 2030 ("the Notes"). On May 30, 2025, we issued $360 million aggregate principal of 10.000% senior secured notes due 2030. The Notes are secured by 11 distribution centers and e-fulfillment centers, as well as other collateral. We intend to use the net proceeds from the sale of the Notes in a series of transactions resulting in the repayment of borrowings under the revolving credit facility. We intend to borrow under the revolving credit facility to repay the remaining $353 million outstanding 4.25% notes due in July 2025.

On May 14, 2025, the Board of Directors of Kohl's Corporation declared a quarterly cash dividend of $0.125 per share. The dividend will be paid on June 25, 2025, to all shareholders of record at the close of business on June 11, 2025.

On June 5, 2025, we announced the closing of our Monroe, Ohio e-fulfillment center. We estimate that we will recognize cumulative pre-tax charges of approximately $25 million to $30 million, including approximately $10 million of non-cash charges in real estate and other asset-related charges, costs, and impairments and $15 million to $20 million of cash expenditures related to associate severance, benefits, and other exit costs. We expect that substantially all of these charges will be incurred in the second and third quarters of 2025.