Seagate exchanges $500M of 3.50% exchangeable notes for cash and shares

Seagate Technology Holdings plc

Exchange of $500M principal of 3.50% Exchangeable Senior Notes due 2028 for $503.4M cash plus ordinary shares.
Share count to be determined over one trading day starting Nov 5, 2025; expected close Nov 10, 2025.
After closing, ~$1.0B in aggregate principal of the notes will remain outstanding with unchanged terms.
Exchanges are privately negotiated; shares issued will be unregistered and exempt from registration.

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