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Itron Credit Agreement

The regulatory information contained in this press release applies to the credit rating and, if applicable, to the corresponding rating outlook or the revision of the rating. For credit ratings issued for a program, series, class of securities or class of securities, this advertisement contains certain regulatory information on each rating of a issue or rating issued after the same series, category/category of securities, securities or program for which ratings are exclusively derived from existing ratings in accordance with Moody`s rating practices. With respect to ratings issued by a support provider, this announcement contains certain regulatory information regarding the supporting offeror`s rating action and any specific rating action for securities that deduct their credit ratings from the rating of the supporting offeror. With respect to interim credit ratings, this notice contains some regulatory information regarding the interim credit rating assigned and, in any event, a definitive rating that can be attributed to the debt after the final issue, if the structure of the transaction and the preconditions for the final rating have not changed in a manner that would have affected the rating. For more information, see the Ratings tab on the Issuers/Entities page for the respective issuer on www.moodys.com. The Company intends to use the net proceeds of the offer, as well as the resources available to repay outstanding loans under its credit facility originally concluded on January 5, 2018, and to pay all costs and expenses related to the offer and repayments. The company`s corporate governance profile is supported by a relatively balanced approach to capital allocation, which is expected to result in excess debt reduction money, including a reduction in the temporarily high amount of credit lines derived to maintain liquidity amid market uncertainty caused by the coronavirus pandemic. The company`s credit profile does not expect a shift towards a more aggressive financial policy, such as debt-financed shareholder compensation. For more regulatory information for each rating, see the Ratings tab on the issuer/business page on www.moodys.com. The overall credit rating for this credit rating was issued by a subsidiary of Moody`s outside the EU and is confirmed by Moody`s Deutschland GmbH, An der Welle 5, Frankfurt-on-Main 60322, Germany, in accordance with Article 4, paragraph 3, of Regulation (EC) No 1060/2009 on credit rating agencies. For more information on the status of EU support and the moody`s office that issued the rating, see www.moodys.com.

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