For a given Levy process
X
= (
X
t
)
t
2
R
+
and for xed
s
2
R
+
[f1g
and
t
2
R
+
we analyse the
future drawdown extremes
that are de ned as follows:
The path-functionals
D

t;s
and
D

t;s
are of interest in various areas of application, including nancial mathematics
and queueing theory. In the case that
X
has a strictly positive mean, we nd the exact asymptotic decay as
x
! 1
of the tail probabilities
P
(
D

t
< x
) and
P
(
D

t
< x
) of
D

t
= lim
s
!1
D

t;s
and
D

t
= lim
s
!1
D

t;s
both when the jumps satisfy the Cram er assumption and in a heavy-tailed case. Furthermore, in the case that
the jumps of the L evy process
X
are of single sign and
X
is not subordinator, we identify the one-dimensional
distributions in terms of the scale function of
X
. By way of example, we derive explicit results for the Black-
Scholes-Samuelson model.