DICK'S Sporting Goods exchanges $50M of convertible notes for cash and stock; reduces annual interest by $1.625M

DICK'S SPORTING GOODS, INC.

Exchanged $50M aggregate principal of 3.25% Convertible Senior Notes due 2025 for cash and common stock.
After exchange, $375M of notes remain outstanding; annual interest payments reduced by $1.625M.
Entered partial unwind of convertible note hedge and warrant transactions tied to the exchanged notes.
Shares to be issued to noteholders based on VWAP averaging period commencing July 11, 2022.
No early termination penalties incurred on the hedge or warrant unwind agreements.

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