Seagate Securities Litigation

• The Parties to this class action lawsuit have reached a proposed settlement that, if approved, will provide $175,000,000.00 ($1.03 per eligible share if claims are submitted for each share) to pay claims from persons and entities who purchased or otherwise acquired common stock of Seagate Technology Holdings plc (“Seagate”) from September 14, 2020 through April 19, 2023, inclusive (the “Class Period”).
• The settlement resolves a lawsuit in which Lead Plaintiffs alleged that Seagate, its Chief Executive Officer, Dr. William Mosley, and its Chief Financial Officer, Gianluca Romano, misled investors by concealing the magnitude of Seagate’s sales to a Chinese company in violation of U.S. export laws, and that Seagate’s profitability was largely based on those illegal sales.
• Defendants deny any liability or wrongdoing. Defendants do not agree with the assertion that they violated the federal civil securities laws or that any damages were suffered by any members of the Settlement Class as a result of Defendants’ alleged conduct.
• The Parties have agreed to the settlement because it avoids costs from and risks to continuing the lawsuit; pays money to investors like you; and releases Defendants from liability.
• The Parties do not agree on the average amount of damages per share of Seagate common stock that would be recoverable if Lead Plaintiffs prevailed in the Action.
• Court-appointed lawyers for investors will apply to the Court for attorneys’ fees in an amount not to exceed 25% of the Settlement Fund. Lead Counsel will also apply for payment of Litigation Expenses, in an amount not to exceed $1.3 million, which amount may include a request for reimbursement of the costs incurred by Lead Plaintiffs directly related to their representation of the Settlement Class. If the Court approves the maximum amount of the fees and expenses requested, the estimated average cost per eligible share of Seagate common stock will be approximately $0.26 per share.
• Identification of Attorneys’ Representatives: Lead Plaintiffs and the Settlement Class are represented by Christopher F. Moriarty of Motley Rice LLC, 28 Bridgeside Blvd., Mount Pleasant, SC 29464, 888-425-2020, infoseagatesettlement@motleyrice.com, and James A. Harrod of Bernstein Litowitz Berger & Grossmann LLP, 1251 Avenue of the Americas, New York, NY 10020, (800) 380-8496, settlements@blbglaw.com
• The Court in charge of this case still has to decide whether to approve the settlement. Payments will be made if the Court approves the settlement and after appeals are resolved. Please be patient.

Please read the notice carefully and in its entirety. Your rights may be affected by the above-captioned securities class action (the “Action”) pending in the United States District Court for the Northern District of California (the “Court”).