Western Digital Authorizes New $2.0 Billion Share Repurchase Program

Western Digital Corp. (Nasdaq: WDC) today announced that its Board of Directors has authorized a new $2.0 billion share repurchase program. The repurchase authorization is effective immediately. Share repurchases may be made on the open market or in privately negotiated transactions and may be made pursuant to a Rule 10b5-1 plan.

“The share repurchase program underscores our strong confidence in Western Digital’s future, the depth of our product portfolio, and the long-term value we see in our business,” said Irving Tan, Chief Executive Officer of Western Digital. “At our Investor Day, we laid out the three pillars of our shareholder-friendly capital allocation strategy: reinvesting in the business, reducing debt, and returning capital to shareholders. Following the recently announced initiation of our quarterly dividend, this repurchase program represents another key step in delivering long-term value for our shareholders.”

The amount and timing of share repurchases will depend on market conditions and other corporate considerations. The company may suspend or discontinue the share repurchase program at any time.

About Western Digital

Western Digital empowers the systems and people who rely on data. Consistently delivering massive capacity, high quality and low TCO, Western Digital is trusted by hyperscale cloud providers, enterprise data centers, content professionals and consumers around the world. Core to its values, the company recognizes the urgency to combat climate change and is on a mission to design storage technologies that not only meet today’s data demands but also contribute to a more climate-conscious future. Follow Western Digital on LinkedIn and learn more at www.westerndigital.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of federal securities laws, including statements concerning the company’s capital allocation strategy, including potential repurchases in the future by the company of its common stock. These forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements.