Company: NAVN
Filing Date: 2025-07-28
Form Type: DRS/A
Source: 0001628279-25-000476
Chunk: 119

Company: Navan, Inc.
Filing Date: 2025-07-28
Form: DRS/A
Chunk 119
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### DIVIDEND POLICY
We currently intend to retain all available funds and any future earnings for use in the operation of our business and do not anticipate paying any dividends on our capital stock in the foreseeable future. Additionally, our ability to pay dividends or make distributions is limited by certain restrictions in connection with the Warehouse Credit Facility, the Vista Facility, and ABL Facility. For additional information regarding the Warehouse Credit Facility, the Vista Facility, and ABL Facility, see the section titled “Description of Material Indebtedness.” Additionally, our ability to pay dividends may be further restricted by agreements we may enter into in the future. Any future determination to declare dividends will be made at the discretion of our board of directors and will depend on our financial condition, results of operations , contractual restrictions, capital requirements, general business conditions, and other factors that our board of directors may deem relevant.

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### CAPITALIZATION
The following table sets forth our cash and cash equivalents and our capitalization as of , 2025, on:

• an actual basis;

• a pro forma basis, which reflects (i) the automatic conversion of all outstanding shares of our redeemable convertible preferred stock outstanding as of , 2025, into shares of our Class A common stock pursuant to the Capital Stock Conversion in connection with the closing of this offering pursuant to the terms of our amended and restated certificate of incorporation, (ii) the conversion of the aggregate principal and accrued and unpaid interest on the Convertible Notes pursuant to the Note Conversion, into shares of our Class A common stock, based upon (A) the assumed initial public offering price of $ per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, and (B) an assumed closing date of this offering of , 2025, including the reclassification of the embedded derivative liability related to the Convertible Notes to additional paid-in capital, (iii) the conversion of the aggregate principal and accrued and unpaid interest on the outstanding SAFEs pursuant to the SAFE Conversion, into shares of our Class A common stock, based upon (A) the assumed initial public offering price of $ per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, and (B) an assumed closing date of this offering of , 2025, (iv) the net issuance of shares of Class A common stock in connection with the RSU Net Settlement, after