Material Agreement, Financial Obligation (Form 8-K)

Item 1.01 - Entry into a Material Definitive Agreement.

On December 15, 2025 (the "Closing Date"), Deluxe Receivables LLC ("Borrower"), a special purpose company and wholly-owned subsidiary of Deluxe Corporation (the "Company"), a Minnesota corporation, entered into Amendment No. 1 to Receivables Financing Agreement (the "Amendment"), amending the Receivables Financing Agreement, dated as of March 13, 2024 (the "RFA") among MUFG Bank, Ltd., as administrative agent (the "Administrative Agent"), the Borrower, the Company, as initial servicer (the "Servicer") and the group and agents and lenders party thereto.

The Amendment, among other things, (i) increases the Facility Limit to $100,000,000, (ii) increases the Required Capital Amount to $17,500,000 and (iii) extends the Scheduled Termination Date from March 12, 2027 to December 14, 2028. The drawn fee was amended to correspond to the long term debt rating of the Company as set forth in the chart below:

The Pricing Level as of the Closing Date is II. The other material terms of the RFA were unchanged.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.

Item 2.03 - Creation of a Direct Financial Obligation.

The information set forth under Item 1.01 above is incorporated by reference into this Item 2.03.