NetApp Prices $2,000,000,000 of Senior Notes

SUNNYVALE, Calif.--(BUSINESS WIRE)-- NetApp, Inc. (NASDAQ: NTAP), a leader in hybrid cloud data services, today announced the pricing of $750,000,000 in aggregate principal amount of its 1.875% Senior Notes due 2025 that will bear interest at 1.875% per annum, $550,000,000 in aggregate principal amount of its 2.375% Senior Notes due 2027 that will bear interest at 2.375% per annum and $700,000,000 in aggregate principal amount of its 2.700% Senior Notes due 2030 that will bear interest at 2.700% per annum. The offering is expected to close, subject to the satisfaction of customary closing conditions, on June 22, 2020.

NetApp intends to use the net proceeds from this offering for general corporate purposes, including repayment of $500 million in aggregate principal amount of NetApp’s outstanding 3.375% Senior Notes due 2021 (including accrued and unpaid interest and any make-whole payment thereon) on or prior to their maturity in June 2021 and repayment of outstanding borrowings under its existing commercial paper program.

Goldman Sachs & Co. LLC , J.P. Morgan Securities LLC, BofA Securities, Inc., Morgan Stanley & Co. LLC, Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the senior notes or any other securities nor shall there be any sale of the senior notes or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering of senior notes may be made only by means of a preliminary prospectus supplement and the accompanying prospectus, copies of which can be obtained from:

Goldman Sachs & Co. LLC 200 West Street New York, NY 10282 Attention: Prospectus Department Tel: (866) 471-2526 Fax: (212) 902-9316 Email: prospectus-ny@ny.email.gs.com

J.P. Morgan Securities LLC 383 Madison Ave. New York, NY 10179 Attention: Investment Grade Syndicate Desk, 3rd Floor Tel: (212) 834-4533 Fax: (212) 834-6081

BofA Securities, Inc. NC1-004-03-43 200 North College Street, 3rd Floor Charlotte, NC 28255-0001 Attention: Prospectus Department Tel: (800) 294-1322 Email: dg.prospectus_requests@bofa.com

Morgan Stanley & Co. LLC 180 Varick Street New York, NY 10014 Attention: Prospectus Department Tel: (866) 718-1649 Email: prospectus@morganstanley.com

Citigroup Global Markets Inc. c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Tel: (800) 831-9146 Email: prospectus@citi.com

Wells Fargo Securities, LLC 608 2nd Avenue South, Suite 1000 Minneapolis, MN 55402 Attention: WFS Customer Service Tel: (800) 645-3751 Email: wfscustomerservice@wellsfargo.com

About NetApp

NetApp is a leader in hybrid cloud data services. In a world of increasing complexity, we simplify. We help our customers ensure their data and applications are in the right place at the right time with the right characteristics and capabilities to enable new insights and accelerate innovation. We do this by helping customers build their data fabrics. Together with our partners, we empower organizations to unleash the full potential of their data to expand customer touchpoints, foster greater innovation and optimize their operations. We were incorporated in 1992 and are headquartered in Sunnyvale, California.

Cautionary Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, whether NetApp will consummate the offering, prevailing market conditions, the anticipated use of the proceeds of the offering, which could change as a result of market conditions or for other reasons, interest rates and corporate considerations and the impact of general economic, industry or political conditions in the United States or internationally. We disclaim any obligation to update information contained in this press release whether as a result of new information, future events, or otherwise.

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Press Contact: Amelia Vierra NetApp (408) 822-6403 amelia.vierra@netapp.com

Investor Contact: Lance Berger NetApp (408) 822-6628 lance.berger@netapp.com

Source: NetApp, Inc.