Fastly, Inc. announced the pricing of its offering of $160,000,000 aggregate principal amount of 0% convertible senior notes due 2030 (the ?notes?) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the ?Securities Act?). The offering size was increased from the previously announced offering size of $125,000,000 aggregate principal amount of notes. The issuance and sale of the notes are scheduled to settle on December 9, 2025, subject to customary closing conditions.

Fastly also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $20,000,000 aggregate principal amount of notes. The notes will be senior, unsecured obligations of Fastly. The notes will not bear regular interest and the principal amount of the notes will not accrete.

The notes will mature on December 15, 2030, unless earlier repurchased, redeemed or converted. Before September 16, 2030, noteholders will have the right to convert their notes only upon the occurrence of certain events. From and after September 16, 2030, noteholders may convert their notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date.

Fastly will settle conversions by paying or delivering, as applicable, cash, shares of its Class A Common Stock or a combination of cash and shares of its Class A Common Stock, at Fastly?s election. The initial conversion rate is 65.5136 shares of Class A Common Stock per $1,000principal amount of notes, which represents an initial conversion price of approximately $15.26 per share of Class A Common Stock. The initial conversion price represents a premium of approximately 32.5% over the last reported sale price of $11.52 per share of Fastly?s Class A Common Stock on December 4, 2025.

The conversion rate and conversion price will be subject to adjustment upon the occurrence of certain events.