Company: NAVN
Filing Date: 2025-07-28
Form Type: DRS/A
Source: 0001628279-25-000476
Chunk: 306

Company: Navan, Inc.
Filing Date: 2025-07-28
Form: DRS/A
Chunk 306
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OB.

We conducted our audits of these consolidated financial statements in accordance with the standards of the PCAOB and in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

San Jose, California

April 30, 2025, except for the disaggregated usage-based and subscription revenue information included in Note 2 to the consolidated financial statements, as to which the date is July 25, 2025

We have served as the Company's auditor since 2024.

<div align='center'>F-2</div>

#### NAVAN, INC. AND SUBSIDIARIES

### CONSOLIDATED BALANCE SHEETS
<div align='center'>(in thousands, except par value and share amounts)</div>

| Assets                                                                                                                                                                                
 Current assets:                                                                                                                                                                       |     | As of January 31, 
 2025              |            |     | 2024 |            |
|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:------------------|-----------:|:----|:-----|-----------:|
| Cash and cash equivalents                                                                                                                                                             |     | $                 |    157,672 |     | $    |    166,421 |
| Restricted cash, current                                                                                                                                                              |     |                   |    148,157 |     |      |     95,961 |
| Accounts receivable, net                                                                                                                                                              |     |                   |    184,856 |     |      |    158,355 |
| Corporate card receivables, net                                                                                                                                                       |     |                   |    157,755 |     |      |    224,278 |
| Contract acquisition costs, current                                                                                                                                                   |     |                   |      4,784 |     |      |      2,884 |
| Prepaid expenses and other current assets                                                                                                                                             |     |