We advised the placement agents on the offering

Davis Polk advised the placement agents in connection with the offer by Seagate HDD Cayman, a wholly owned subsidiary of Seagate Technology Holdings plc, to certain existing holders of its outstanding 3.50% exchangeable senior notes due 2028 to exchange, in privately negotiated transactions, $185.9 million principal amount of the notes for an aggregate consideration consisting of $185.9 million in cash and approximately 2,020,000 newly issued ordinary shares of Seagate stock.

Seagate is a pioneer in mass-capacity data storage, accelerating ability to harness the full value of data. Its portfolio of advanced storage solutions helps hyperscale cloud providers, enterprises and consumers protect, create and manage the data that powers their transformation and growth. For more than 45 years, Seagate has driven breakthrough innovations that bring sustainable, high-performance storage to the world at-scale.

The Davis Polk capital markets team included partner Michael Kaplan and associate Megan P. Phansalkar. All members of the Davis Polk team are based in the New York office.

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