PINS: Material agreement · New financial obligation

Item 1.01. Entry into a Material Definitive Agreement. On October 15, 2026, Pinterest, Inc. (the “Company”) entered into an amended and restated five-year $700 million revolving credit facility (the “2026 revolving credit facility”), by and among the Company, the guarantors party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent, which replaced the Company’s previous $500.0 million revolving credit facility entered into on October 25, 2022, as amended in October 2023. The 2026 revolving credit facility also contains an accordion option which, if exercised, would allow the Company to increase the aggregate commitments by up to the greater of $1,000 million and 75% of consolidated EBITDA of the Company, provided the Company is able to secure additional lender commitments and satisfy certain other conditions. Interest on any borrowings under the 2026 revolving credit facility accrues at either an adjusted term Secured Overnight Financing Rate (“SOFR”) and a margin of 1.25% or at an alternative base rate plus a margin of 0.25%, at the Company’s election. The Company is required to pay an annual commitment fee that accrues at 0.10% per annum on the unused portion of the aggregate commitments under the 2026 revolving credit facility. The 2026 revolving credit facility also allows the Company to issue letters of credit up to $75 million, which reduce the amount the Company can borrow. The Company is required to pay a fee that accrues at 1.25% per annum on the average aggregate daily maximum amount available to be drawn under any outstanding letters of credit. The 2026 revolving credit facility contains customary conditions to borrowing, events of default and covenants, including covenants that restrict the Company’s ability to incur inde