Seagate exchanges $600M of 3.50% Notes due 2028 for $599.2M cash and shares

Seagate Technology Holdings plc

Entered exchange agreements for $600M principal of 3.50% Exchangeable Notes due 2028.
Consideration: ~$599.2M cash plus ordinary shares to be determined over one trading day starting Feb 12, 2026.
Closing expected on or about Feb 17, 2026; ~$400M in notes will remain outstanding.
Notes exchanged will be retired; transaction is a private placement under Section 4(a)(2).

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