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  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
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  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Kyndryl Holdings, Inc. Announces Extension of Expiration Date for Exchange Offers

Kyndryl Holdings, Inc. (NYSE: KD) today announced that it has extended the expiration date for each of its offers to exchange any and all of its outstanding unregistered senior notes listed below that were originally issued in private offerings for equal principal amounts of new issues of senior notes registered under the Securities Act of 1933, as amended.

The exchange offers, which were originally scheduled to expire at 5:00 p.m., New York City time, on Monday, September 19, 2022, have been extended until 5:00 p.m., New York City time, on Friday, September 23, 2022, unless further extended. All other terms, provisions and conditions of the exchange offers will remain in full force and effect.

As of 5:00 p.m., New York City time, on September 19, 2022, quantities of unregistered notes validly tendered and not validly withdrawn, as advised by The Bank of New York Mellon Trust Company, N.A., the exchange agent for the exchange offers, are set forth in the table below:

Security

144A CUSIP Number

Reg S CUSIP Number

Aggregate Principal Amount Outstanding

Principal Amount Tendered

Approximate Percentage of Notes Tendered

2.050% Senior Notes due 2026

50155QAA8

U49077AA5

$700,000,000

$664,371,000

94.9%

2.700% Senior Notes due 2028

50155QAC4

U49077AB3

$500,000,000

$449,870,000

90.0%

3.150% Senior Notes due 2031

50155QAE0

U49077AC1

$650,000,000

$648,967,000

99.8%

4.100% Senior Notes due 2041

50155QAG5

U49077AD9

$550,000,000

$548,782,000

99.8%

A Form S-4 registration statement filed by Kyndryl with the Securities and Exchange Commission regarding the exchange offers was declared effective by the Securities and Exchange Commission on August 19, 2022. The expiration date for each exchange offer is being extended to provide time for remaining outstanding unregistered notes to be exchanged.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offering, solicitation or sale would be unlawful. A copy of the prospectus and other materials related to the exchange offers may be obtained from the exchange agent, The Bank of New York Mellon Trust Company, N.A., by calling (800) 254-2826.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including without limitation statements regarding the expected expiration of the exchange offers, are forward-looking statements. Such forward-looking statements often contain words such as “will,” “anticipate,” “predict,” “project,” “contemplate,” “plan,” “forecast,” “estimate,” “expect,” “intend,” “target,” “may,” “should,” “would,” “could,” “seek,” “aim” and other similar words or expressions or the negative thereof or other variations thereon. Such forward-looking statements are subject to certain risks and uncertainties that may cause actual results to differ materially from those suggested by forward-looking statements, including, without limitation, market and trading system interruptions, administrative delays and other factors. Additional risks and uncertainties include, among others, those risks and uncertainties described in the “Risk Factors” section of Kyndryl’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, and may be further updated from time to time in the Kyndryl’s periodic filings with the Securities and Exchange Commission. Any forward-looking statement in this press release speaks only as of the date on which it is made. Except as required by law, Kyndryl assumes no obligation to update or revise any forward-looking statements.

About Kyndryl

Kyndryl (NYSE: KD) is the world’s largest IT infrastructure services provider serving thousands of enterprise customers in more than 60 countries. The Company designs, builds, manages and modernizes the complex, mission-critical information systems that the world depends on every day. For more information, visit www.kyndryl.com.

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