ePlus Announces New Credit Facility

Increase to $375 Million Enhances ePlus' Working Capital Financing Capacity    

HERNDON, Va., Oct. 19, 2021 /PRNewswire/ -- ePlus inc. (NASDAQ: PLUS), a leading provider of technology and financing solutions, today announced that its subsidiaries ePlus Technology, inc., ePlus Technology Services, inc. and SLAIT Consulting, LLC (collectively, the "Borrowers") recently amended, restated and replaced in their entirety their existing credit agreements with Wells Fargo Commercial Distribution Finance Corporation ("CDF"). The new credit facility is established by a syndicate of banks for which CDF acts as administrative agent and consists of a discretionary senior secured floorplan facility in favor of the Borrowers in the aggregate principal amount of up to $375 million, an increase from $275 million, together with a sublimit for a revolving credit facility for up to $100 million.  The aggregate amount of principal available under the new credit facility is subject to a borrowing base based upon, among other things, the Borrowers' accounts receivable and inventory, each pursuant to a formula and subject to certain reserves. The new credit facility has an initial one-year term which automatically renews for successive one-year terms thereafter; however, either party may terminate with proper notice.

"This revised credit facility supports our growth and service to our valued customers as a leading provider of advanced solutions," said Elaine Marion, chief financial officer. "We highly value our long-term relationship with CDF, our new syndicate banks, and appreciate the continued support of ePlus."

About ePlus inc.

ePlus is a leading consultative technology solutions provider that helps customers imagine, implement, and achieve more from their technology. With the highest certifications from top technology partners and lifecycle services expertise across key areas including security, cloud, data center, collaboration, networking and emerging technologies, ePlus transforms IT from a cost center to a business enabler. Founded in 1990, ePlus has more than 1,500 associates serving a diverse set of customers in the U.S., Europe, and Asia-Pac. The Company is headquartered at 13595 Dulles Technology Drive, Herndon, VA, 20171. For more information, visit www.eplus.com, call 888-482-1122, or email info@eplus.com. Connect with ePlus on Facebook, LinkedIn, Twitter and Instagram. ePlus, Where Technology Means More®.

ePlus®, Where Technology Means More®, and ePlus products referenced herein are either registered trademarks or trademarks of ePlus inc. in the United States and/or other countries. The names of other companies, products, and services mentioned herein may be the trademarks of their respective owners.