iRhythm Announces Closing of $661.25 Million of 1.50% Convertible Senior Notes Due 2029, Including Full Exercise of Initial Purchasers’ $86.25 Million Option to Purchase Additional Notes - Seite 2

Holders of the notes have the right to require iRhythm to repurchase for cash all or a portion of their notes at 100% of their principal amount, plus any accrued and unpaid interest, upon the occurrence of a fundamental change (as defined in the indenture relating to the notes). iRhythm is also required to increase, in certain circumstances, the conversion rate for holders who convert their notes in connection with certain fundamental changes occurring prior to the maturity date or convert their notes called (or deemed called) for redemption following the delivery by iRhythm of a notice of redemption.

iRhythm estimates that the net proceeds from the offering are approximately $643.6 million, after deducting the initial purchasers’ discount and estimated offering expenses payable by iRhythm.

iRhythm used approximately $72.4 million of the net proceeds from the offering to pay the cost of the capped call transactions, as described below. In addition, iRhythm used approximately $80.2 million of the net proceeds from the offering for the repayment in full of the indebtedness outstanding, together with accrued and unpaid interest and related fees, under iRhythm’s Credit, Security and Guaranty Agreement (the “Loan Agreement”), with Braidwell Transaction Holdings LLC – Series 5, which consisted of borrowings under the initial tranche of the Loan Agreement’s term loan facility. iRhythm also used approximately $25.0 million of the net proceeds from the offering to repurchase 229,252 shares of iRhythm’s common stock in connection with the offering at a purchase price of $109.05 per share in privately negotiated transactions effected through one of the initial purchasers or its affiliate. These repurchases could increase (or reduce the size of any decrease in) the market price of iRhythm’s common stock, and could result in a higher effective conversion price for the notes. iRhythm intends to use the remainder of the net proceeds from the offering for general corporate purposes, which may include sales and marketing activities, medical affairs and educational efforts, research and development and clinical studies, and working capital, capital expenditures, and investments in and acquisitions of other companies, products or technologies in the future. However, iRhythm has no commitments or specific plans with respect to any such investments in and acquisitions of other companies, products or technologies at this time.