Seagate Technology

com SEAGATE TECHNOLOGY REPORTS FISCAL SECOND QUARTER 2026 FINANCIAL RESULTS Fiscal Q2 2026 Highlights Revenue of $2.83 billion GAAP gross margin of 41.6% non-GAAP gross margin of 42.2% GAAP diluted earnings per share (EPS) of $2.60 non-GAAP diluted EPS of $3.11 Cash flow from operations of $723 million and free cash flow of $607 million Declared cash dividend of $0.74 per share Singapore January 28, 2026 - Seagate Technology Holdings plc (NASDAQ STX) (the Company or Seagate ), a leading innovator of mass-capacity data storage, today reported financial results for its fiscal second quarter ended January 2, 2026.

SEC original ↗Seagate Technology — Earnings release (8-K exhibit)EX-99Jan 27, 2026

Seagate s balance sheet remains healthy, and during the fiscal second quarter, the Company retired $500 million Exchangeable Senior Notes due 2028 and paid cash dividends of $154 million.

SEC original ↗Seagate Technology — Earnings release (8-K exhibit)EX-99Jan 27, 2026

Quarterly Cash Dividend The Board of Directors of the Company (the Board ) declared a quarterly cash dividend of $0.74 per share, which will be payable on April 8, 2026 to shareholders of record as of the close of business on March 25, 2026.

SEC original ↗Seagate Technology — Earnings release (8-K exhibit)EX-99Jan 27, 2026

The payment of any future quarterly dividends will be at the discretion of the Board and will be dependent upon Seagate s financial position, results of operations, available cash, cash flow, capital requirements and other factors deemed relevant by the Board.

SEC original ↗Seagate Technology — Earnings release (8-K exhibit)EX-99Jan 27, 2026

The Company is providing the following guidance for its fiscal third quarter 2026 Revenue of $2.90 billion, plus or minus $100 million Non-GAAP diluted EPS of $3.40, plus or minus $0.20 Our fiscal third quarter guidance includes The estimated net dilutive impact from the Exchangeable Senior Notes due 2028 and Minimal expected impact from global tariff policies announced as of the date of this release.

SEC original ↗Seagate Technology — Earnings release (8-K exhibit)EX-99Jan 27, 2026

We have not reconciled our non-GAAP diluted EPS guidance for fiscal third quarter 2026 to the most directly comparable GAAP measure, other than estimated share-based compensation expenses, because material items that may impact these measures are out of our control and or cannot be reasonably predicted, including, but not limited to, net (gain) loss from debt transactions, strategic investment losses (gains) or impairment charges, income tax adjustments on these measures, and other charges or benefits that may arise.

SEC original ↗Seagate Technology — Earnings release (8-K exhibit)EX-99Jan 27, 2026

Our areal-density-driven product roadmap positions us to meet the evolving storage requirements and exabyte demand growth, while creating significant value for our customers and shareholders for years to come, Mosley concluded.

SEC original ↗Seagate Technology — Earnings release (8-K exhibit)EX-99Jan 27, 2026

We have not reconciled our non-GAAP diluted EPS guidance for fiscal third quarter 2026 to the most directly comparable GAAP measure, other than estimated share-based compensation expenses, because material items that may impact these measures are out of our control and or cannot be reasonably predicted, including, but not limited to, net (gain) loss from debt transactions, strategic investment losses (gains) or impairment charges, income tax adjustments on these measures, and other charges or benefits that may arise.

SEC original ↗Seagate Technology — Earnings release (8-K exhibit)EX-99Jan 27, 2026

Forward-looking statements include, among other things, statements about the Company s plans, programs, strategies, prospects, and opportunities financial outlook for future periods, including the fiscal third quarter 2026 expectations regarding our ability to service debt and continue to generate free cash flow expectations regarding our ability to make timely quarterly payments under the settlement agreement with the U.

SEC original ↗Seagate Technology — Earnings release (8-K exhibit)EX-99Jan 27, 2026

Strategic investment gains, losses and impairment charges From time to time, the Company incurs gains, losses or impairment charges from strategic investments that are measured and accounted at fair value, under the equity method of accounting, as available-for-sale debt securities or adjust for downward or upward adjustments to the carrying value under the measurement alternative if an impairment or observable price adjustment is recognized in the current period that are not considered normal operating expenses or gains.

SEC original ↗Seagate Technology — Earnings release (8-K exhibit)EX-99Jan 27, 2026

These adjustments primarily include impairment and other charges related to cost saving efforts, net loss (gain) from debt transactions, net gain from termination of interest rate swap, net gain from business divestiture, purchase order cancellation fees, restructuring and other, net, share-based compensation, strategic investment losses or impairment charges, other extraordinary charges such as factory underutilization charges.

SEC original ↗Seagate Technology — Earnings release (8-K exhibit)EX-99Jan 27, 2026

The Company is providing the following guidance for its fiscal third quarter 2026 Revenue of $2.90 billion, plus or minus $100 million Non-GAAP diluted EPS of $3.40, plus or minus $0.20 Our fiscal third quarter guidance includes The estimated net dilutive impact from the Exchangeable Senior Notes due 2028 and Minimal expected impact from global tariff policies announced as of the date of this release.

SEC original ↗Seagate Technology — Earnings release (8-K exhibit)EX-99Jan 27, 2026

Forward-looking statements are subject to various uncertainties and risks that could cause our actual results to differ materially from historical experience and our present expectations or projections.

SEC original ↗Seagate Technology — Earnings release (8-K exhibit)EX-99Jan 27, 2026

These risks and uncertainties include, but are not limited to, those described under the captions Risk Factors and Management s Discussion and Analysis of Financial Condition and Results of Operations in the Company s latest periodic report on Form 10-Q or Form 10-K filed with the U.

SEC original ↗Seagate Technology — Earnings release (8-K exhibit)EX-99Jan 27, 2026

Cybersecurity 31 2 Properties 32 3 Legal Proceedings 32 4 Mine Safety Disclosures 33 PART II 5 Market for Registrant s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 34 6 [Reserved] 35 7 Management s Discussion and Analysis of Financial Condition and Results of Operations 35 7A.

SEC original ↗Seagate Technology — 10-K Annual report10-KAug 4, 2026

Department of Commerce s Bureau of Industry and Security ( BIS ); the impact of macroeconomic headwinds and customer inventory adjustments on our business and operations; our cost saving plans, including our ability to execute such plans, the projected savings under such plans and the assumptions on which the plans and projected savings are based; expectations regarding the Company s business strategy and performance; the sufficiency of our sources of cash to meet cash needs for the next 12 months; and our expectations regarding capital expenditures and dividend issuance plans.

SEC original ↗Seagate Technology — 10-K Annual report10-KAug 4, 2026

Forward-looking statements are based on information available to the Company as of the date of this Annual Report on Form 10-K and are subject to known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from historical experience and our present expectations or projections.

SEC original ↗Seagate Technology — 10-K Annual report10-KAug 4, 2026