Leidos, Inc. - Tender Offer - Expiration and Results

Leidos, Inc. Announces the Expiration and Results of Cash Tender Offer for Any and All 2.950% Senior Notes Due 2023

24 FEBRUARY 2023

Full announcement available via SEC.

RESTON, Va., Feb. 24, 2023 /PRNewswire/ — Leidos Holdings, Inc. (NYSE: LDOS) (“Holdings”), a FORTUNE® 500 science and technology leader, today announced that the previously announced offer by its wholly-owned subsidiary, Leidos, Inc. (“Leidos”) to purchase for cash (the “Tender Offer”) any and all of its outstanding 2.950% Senior Notes due 2023 (the “2023 Notes”) expired at 5:00 p.m., New York City time, on February 23, 2023 (the “Expiration Time”). As of the Expiration Time, $391,572,000 or 78.31% of the $500 million aggregate principal amount outstanding of the 2023 Notes had been validly tendered and not validly withdrawn (not including any amount of 2023 Notes submitted pursuant to the guaranteed delivery procedures described in the Offer to Purchase, dated as of February 16, 2023 (the “Offer to Purchase”) and the related notice of guaranteed delivery (together with the Offer to Purchase, the “Offer Documents”). Payment for the 2023 Notes validly tendered and accepted for purchase will be made on February 28, 2023 (the “Settlement Date”).

Certain information regarding the 2023 Notes is set forth in the table below.

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Leidos, Inc. Announces Pricing Terms of Cash Tender Offer for Any and All 2.950% Senior Notes Due 2023

23 FEBRUARY 2023

Full announcement available via Prnewswire

RESTON, Va., Feb. 23, 2023 /PRNewswire/ -- Leidos Holdings, Inc. (NYSE: LDOS) ("Holdings"), a FORTUNE® 500 science and technology leader, today announced the pricing terms of the previously announced offer by its wholly-owned subsidiary, Leidos, Inc. ("Leidos") to purchase for cash (the "Tender Offer") any and all of its outstanding 2.950% Senior Notes due 2023 (the "2023 Notes"). The Tender Offer is being made pursuant to the terms and subject to the conditions set forth in the Offer to Purchase, dated as of February 16, 2023 (the "Offer to Purchase") and the related notice of guaranteed delivery (together with the Offer to Purchase, the "Offer Documents"). Holders of the 2023 Notes ("Holders") are urged to read the Offer Documents carefully before making any decision with respect to the Tender Offer.

The consideration (the "Tender Offer Consideration") for each $1,000 principal amount of the 2023 Notes validly tendered, and not validly withdrawn, and accepted for purchase pursuant to the Tender Offer was determined in the manner described in the Offer to Purchase by reference to the fixed spread for the 2023 Notes specified below plus the yield based on the bid-side price of the U.S. Treasury Reference Security specified below as of 2:00 p.m., New York City time today, the date on which the Tender Offer is currently scheduled to expire.

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Leidos, Inc. Commences Tender Offer for Any and All 2.950% Senior Notes Due 2023

16 FEBRUARY 2023

Full announcement available via SEC

RESTON, Va., Feb. 16, 2023 /PRNewswire/ — Leidos Holdings, Inc. (NYSE:LDOS) (“Holdings”), a FORTUNE® 500 science and technology leader, today announced its wholly-owned subsidiary, Leidos, Inc. (“Leidos”), has commenced an offer to purchase for cash (the “Tender Offer”) any and all of its outstanding 2.950% Senior Notes due 2023 (the “2023 Notes”). The Tender Offer is being made pursuant to the terms and subject to the conditions set forth in the Offer to Purchase, dated as of February 16, 2023 (the “Offer to Purchase”) and the related notice of guaranteed delivery (together with the Offer to Purchase, the “Offer Documents”).

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