Capital Allocation Framework

12 WESTERN DIGITAL CONFIDENTIAL Capital Allocation Framework Highest Priority Reinvestment in the Company © 2022 WESTERN DIGITAL CORPORATION OR ITS AFFILIATES ALL RIGHTS RESERVED Strategically reinvest to drive innovation Reduce Leverage Target 1.0x 3.25x Debt-to-EBITDA Shareholder Return Dividend Program Share Repurchases Committed to returning excess cash to shareholders

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