Quantum Approves $55M Debt-For-Equity Exchange, Cutting Term Debt By ~50% Via Convertible Notes

Transaction to Eliminate Approximately 50% of Outstanding Term Debt

Quantum Corporation (NASDAQ:QMCO) (Quantum or the Company), today announced that all matters brought before the Company's Annual Meeting of Shareholders held on December 16, 2025 were approved, including the proposal to issue senior secured convertible notes (Convertible Notes) to Dialectic Technology SPV LLC (Dialectic) in a dollar-for-dollar exchange for approximately $55 million of term debt held by Dialectic. As a result, following such exchange, Dialectic will be entitled to acquire shares of Quantum's common stock upon the conversion of such Convertible Notes.