TORO CO — Form 10-Q

Toro Company and Huntington Distribution Finance amended and restated their joint venture agreements effective June 4, 2026, governing Red Iron Acceptance LLC (50-50 ownership structure: Toro Sub 45%, HDF Sub 55% membership interests). The amendments restate the Joint Venture Agreement (originally dated August 12, 2009), LLC Agreement, and Credit and Security Agreement, extending the initial term through October 31, 2031, with automatic two-year renewals thereafter. The $1.35 billion revolving credit facility remains unchanged. Key terms include exclusive financing arrangements for Toro dealer/distributor inventory, capital contribution requirements tied to receivables, and detailed governance structures. Specific dollar amounts and percentages are redacted for competitive reasons.