Western Digital to Redeem 2028 Convertible Notes

Western Digital announced on September 14, 2026, that it will redeem all $109,505,000 of its outstanding 3.00% convertible senior notes due 2028. The redemption date is set for November 16, 2026.

The company will redeem the notes at 100% of their principal amount, plus accrued and unpaid interest up to, but excluding, the redemption date. Interest payable on the regular November 15, 2026 payment date will go to holders of record as of the preceding record date and will not form part of the redemption price. After November 16, interest will stop accruing, leaving no notes outstanding.

Noteholders can convert their holdings until 5:00 p.m. New York City time on November 12, 2026. The conversion rate is 26.5231 shares of common stock per $1,000 principal amount. Western Digital expects substantially all holders to convert before the redemption date, although conversion remains optional.

Western Digital elected a cash percentage of 0% for conversions. Under this structure, it will pay cash for up to the principal amount of converted notes and deliver shares of common stock for any remaining conversion value across a 40-day observation period. The company also confirmed that related capped call transactions will not be modified or settled in connection with this redemption.