# EDGAR Filing Document

**Accession Number:** 0002069785
**File Stem:** 0001193125-25-258610
**Filing Date:** 2025-10
**Character Count:** 1905477
**Document Hash:** f2f0bb999f9a0b1b9122f02d54b91c2c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-258610.hdr.sgml**: 20251030

**ACCESSION NUMBER**: 0001193125-25-258610

**CONFORMED SUBMISSION TYPE**: S-1/A

**PUBLIC DOCUMENT COUNT**: 61

**FILED AS OF DATE**: 20251030

**DATE AS OF CHANGE**: 20251030

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Gloo Holdings, Inc.
- **CENTRAL INDEX KEY:** 0002069785
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** S-1/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-290930
- **FILM NUMBER:** 251436008

**BUSINESS ADDRESS:**
- **STREET 1:** 831 PEARL STREET
- **CITY:** BOULDER
- **STATE:** CO
- **ZIP:** 80302
- **BUSINESS PHONE:** (720) 505-1762

**MAIL ADDRESS:**
- **STREET 1:** 831 PEARL STREET
- **CITY:** BOULDER
- **STATE:** CO
- **ZIP:** 80302

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**As filed with the Securities and Exchange Commission on October 30, 2025**

**Registration No. 333-290930**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

**AMENDMENT NO. 1 TO**

**FORM S-1**

REGISTRATION STATEMENT

Under

The Securities Act of 1933

**GLOO HOLDINGS, INC.** 

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware**<br>(State or other jurisdiction of incorporation or organization) | **7374**<br>(Primary Standard Industrial<br>Classification Code Number) | **39-2250711**<br>(I.R.S. Employer<br>Identification Number) |

---

**831 Pearl Street**

**Boulder, Colorado 80302**

**(303) 381-2645**

(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)

**Scott Beck**

**President and Chief Executive Officer**

**831 Pearl Street**

**Boulder, Colorado 80302**

**(303) 381-2645**

(Name, address, including zip code, and telephone number, including area code, of agent for service)

***Copies to:***

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| | | |
|:---|:---|:---|
| **Matthew Dubofsky**<br>**Victor Nilsson**<br>**Wilson Sonsini Goodrich & Rosati,**<br>**Professional Corporation**<br>**1155 Canyon Boulevard, Suite 400**<br>**Boulder, CO 80302**<br>**(303) 256-5900** | **Jeffrey Bojar**<br>**General Counsel and Secretary**<br>**Gloo Holdings, Inc.**<br>**831 Pearl Street**<br>**Boulder, Colorado 80302**<br>**(303) 381-2645** | **Constantine Karides**<br>**Anne G. Peetz**<br>**Reed Smith LLP**<br>**1221 McKinney Street, Suite 2100**<br>**Houston, Texas 77010**<br>**(713) 469-3800** |

---

**Approximate date of commencement of proposed sale to the public**: As soon as practicable after this registration statement becomes effective.

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check the following box: ☐

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same <br>offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

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| | | | |
|:---|:---|:---|:---|
| Large accelerated filer  | ☐ | Accelerated filer  | ☐ |
| Non-accelerated filer  | ☒ | Smaller reporting company | ☒ |
|  |  | Emerging growth company | ☒ |

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**This registration statement shall hereafter become effective in accordance with the provisions of Section 8(a) of the Securities Act of 1933.** <br>

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**EXPLANATORY NOTE**

We currently operate as Gloo Holdings, LLC, a Delaware limited liability company. For purposes of this offering, we formed Gloo Holdings, Inc., a Delaware corporation, which is the registrant whose name appears on the cover of this registration statement. Immediately prior to the completion of this offering, we will complete a series of internal reorganization transactions pursuant to which, among other things, a Delaware limited liability company and wholly owned subsidiary of Gloo Holdings, Inc. will merge with and into Gloo Holdings, LLC, with Gloo Holdings, LLC as the surviving entity. As a result, Gloo Holdings, LLC will become a wholly owned subsidiary of Gloo Holdings, Inc., and the members of Gloo Holdings, LLC immediately prior to the consummation of the merger will become holders of shares of Class B common stock of Gloo Holdings, Inc. We refer to the reorganization transactions throughout the prospectus collectively as the "Corporate Reorganization." See the section of the prospectus titled "Corporate Reorganization" for further details.

Except as disclosed in the prospectus, the consolidated financial statements and other financial information included in the prospectus are those of Gloo Holdings, LLC and its subsidiaries, and do not give effect to the Corporate Reorganization. Shares of Class A common stock of Gloo Holdings, Inc. are being offered by the prospectus included in this registration statement.

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The information contained in this preliminary prospectus is not complete and may be changed. These securities may not be sold until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.<br>

Subject to completion, dated October 30, 2025

**PRELIMINARY PROSPECTUS**

**9,100,000 Shares**

![img208649791_0.jpg](img208649791_0.jpg)

**Gloo Holdings, Inc.**

**Class A Common Stock**

This is an initial public offering of shares of Class A common stock of Gloo Holdings, Inc. It is currently estimated that the initial public offering price will be between $10.00 and $12.00 per share.

Prior to this offering there has been no public market for our Class A common stock. We have applied to list our Class A common stock on the Nasdaq Global Select Market (Nasdaq) under the symbol "GLOO." No assurance can be given that our application will be approved. If our Class A common stock is not approved for listing on Nasdaq, we will not consummate this offering.

Following this offering, we will have two classes of authorized common stock, Class A common stock and Class B common stock. The rights of the holders of our Class A common stock and Class B common stock will be identical except with respect to voting and conversion rights. Each share of Class A common stock will be entitled to one vote per share. Each share of Class B common stock will be entitled to ten votes per share and will be convertible at any time into one share of Class A common stock. Immediately following the completion of this offering, Scott Beck, our co-founder, president and chief executive officer, will control 43.4% of the voting power of our outstanding capital stock.

We are an "emerging growth company" and a "smaller reporting company" as defined under the federal securities laws and, as such, have elected to comply with certain reduced disclosure requirements in this prospectus and may elect to do so in future filings with the Securities and Exchange Commission. See the sections titled "Prospectus Summary—Implications of Being an Emerging Growth Company and a Smaller Reporting Company" and "Risk Factors."

**See the section titled "Risk Factors" beginning on page 33 to read about factors you should consider before deciding to invest in shares of our Class A common stock.**

**Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.**

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **No Exercise of<br>Over-Allotment Option** | **No Exercise of<br>Over-Allotment Option** | **Full Exercise of<br>Over-Allotment Option** | **Full Exercise of<br>Over-Allotment Option** |
|  | **Per Share** | **Total** | **Per Share** | **Total** |
| Initial public offering price | $| $| $| $|
| Underwriting discounts and commissions<sup>(1)</sup> |  |  |  |  |
| Proceeds, before expenses, to Gloo Holdings, Inc. | $ | $ | $ | $ |

---

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(1)See the section titled "Underwriting" for a description of the compensation payable to the underwriters.

At our request, the underwriters have reserved up to 5% of the shares of Class A common stock offered by this prospectus for sale at the initial public offering price through a directed share program to our directors, officers, employees and their friends and family members and other persons and parties who do business with us. See the section titled "Underwriting" for additional information.

We have granted the underwriters an option to purchase up to an additional 1,365,000 shares of our Class A common stock from us at the initial public offering price, less the underwriting discounts and commissions.

We have registered an additional 2,093,000 shares of our Class A common stock that may be issued and sold if the number of shares in this offering is increased, including a corresponding increase in the underwriters' option to purchase additional shares.

The underwriters expect to deliver the shares of Class A common stock to the purchasers on or about , 2025.

The date of this prospectus is , 2025

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| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;*Sole Book-Running Manager* | &nbsp;&nbsp;*Sole Book-Running Manager* | &nbsp;&nbsp;*Sole Book-Running Manager* | &nbsp;&nbsp;*Sole Book-Running Manager* | &nbsp;&nbsp;*Sole Book-Running Manager* |
| **Roth Capital Partners** | **Roth Capital Partners** | **Roth Capital Partners** | **Roth Capital Partners** | **Roth Capital Partners** |
| &nbsp;&nbsp;&nbsp; <br>*Co-Managers* | &nbsp;&nbsp;&nbsp; <br>*Co-Managers* | &nbsp;&nbsp;&nbsp; <br>*Co-Managers* | &nbsp;&nbsp;&nbsp; <br>*Co-Managers* | &nbsp;&nbsp;&nbsp; <br>*Co-Managers* |
| &nbsp;&nbsp;**Benchmark**<br>a StoneX Company | &nbsp;&nbsp;**Craig-Hallum** | &nbsp;&nbsp;**Lake Street** | &nbsp;&nbsp;**Loop Capital Markets** | &nbsp;&nbsp;**Texas Capital Securities** |

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![img208649791_1.jpg](img208649791_1.jpg)

**gloo Our mission is to build the leading vertical technology platform for the faith and flourishing ecosystem.**

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![img208649791_2.jpg](img208649791_2.jpg)

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![img208649791_3.jpg](img208649791_3.jpg)

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![img208649791_4.jpg](img208649791_4.jpg)

**High Tech. Higher Purpose. Principles that positon our future We Shape Technology for good So you can amplify your impact with tools you trust. We Release Collective Strength So you can achieve more together than alone We Enable Ecosystem Trust So you can collaborate with greater confidence. We Serve Those Who Serve So you can do more of what you are called to do**

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**TABLE OF CONTENTS**

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| | |
|:---|:---|
|  | **Page** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>FOUNDER LETTER</u>](#founder_letter) | ii |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>PROSPECTUS SUMMARY</u>](#prospectus_summary) | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>RISK FACTORS</u>](#risk_factors) | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</u>](#note_regarding_forward_looking_statement) | 66 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>MARKET, INDUSTRY AND OTHER DATA</u>](#market_industry_and_other_data) | 68 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>USE OF PROCEEDS</u>](#use_of_proceeds) | 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>DIVIDEND POLICY</u>](#dividend_policy) | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>CORPORATE REORGANIZATION</u>](#corporate_reorganization) | 71 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>CAPITALIZATION</u>](#capitalization) | 72 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>DILUTION</u>](#dilution) | 76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>UNAUDITED PRO FORMA CONSOLIDATED FINANCIAL INFORMATION</u>](#unaudited_pro_forma_information) | 79 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</u>](#managements_discussion_and_analysis) | 94 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>BUSINESS</u>](#business) | 120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>MANAGEMENT</u>](#management) | 139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>EXECUTIVE COMPENSATION</u>](#executive_compensation) | 148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</u>](#certain_relationships_and_related_party) | 163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>PRINCIPAL STOCKHOLDERS</u>](#principal_stockholders) | 168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>DESCRIPTION OF CAPITAL STOCK</u>](#description_of_capital_stock) | 171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>SHARES ELIGIBLE FOR FUTURE SALE</u>](#shares_eligible_for_future_sale) | 176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS FOR NON-U.S. HOLDERS OF OUR CLASS A COMMON STOCK</u>](#material_us_federal_income_tax) | 178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>UNDERWRITING</u>](#underwriting) | 182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>LEGAL MATTERS</u>](#legal_matters) | 191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>EXPERTS</u>](#experts) | 191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>CHANGES IN INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</u>](#changes_in_independent_registered_public) | 191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>WHERE YOU CAN FIND ADDITIONAL INFORMATION</u>](#where_you_can_find_additional_informatio) | 192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>INDEX TO CONSOLIDATED FINANCIAL STATEMENTS</u>](#indextofinancials) | F-1 |

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**Through and including , 2025 (the 25th day after the date of this prospectus), all dealers effecting transactions in these securities, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to a dealer's obligation to deliver a prospectus when acting as an underwriter and with respect to an unsold allotment or subscription.**

Neither we nor any of the underwriters have authorized anyone to provide you with information that is different than the information contained in this prospectus and any free writing prospectus prepared by or on behalf of us or to which we have referred you. Neither we nor the underwriters take any responsibility for, and cannot provide any assurance as to the reliability of, any other information that others may give you. The information contained in this prospectus or in any applicable free writing prospectus is accurate only as of the date of this prospectus or such free writing prospectus, as applicable, regardless of the time of delivery of this prospectus or any such free writing prospectus or of any sale of the securities offered hereby. Our business, results of operations, financial condition and prospects may have changed since that date.

This prospectus is an offer to sell only the securities offered hereby and only under circumstances and in jurisdictions where it is lawful to do so. Neither we nor any of the underwriters have taken any action that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in the United States. Persons who have come into possession of this prospectus in a jurisdiction outside the United States are required to inform themselves about and to observe any restrictions relating to this offering and the distribution of this prospectus outside of the United States.

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ii

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**PROSPECTUS SUMMARY**

*The following summary highlights selected information that is presented in greater detail elsewhere in this prospectus. It does not contain all the information you should consider before investing in our Class A common stock. You should read this entire prospectus carefully, including the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," and our consolidated financial statements and related notes included elsewhere in this prospectus, before making an investment decision. In this prospectus, unless the context requires otherwise, all references to "we," "our," "us," "Gloo," and the "Company" prior to the Corporate Reorganization refer to Gloo Holdings, LLC and its subsidiaries taken as a whole, and after the Corporate Reorganization, to Gloo Holdings, Inc. and its subsidiaries taken as a whole. Our fiscal year ends on January 31, and our fiscal years ended January 31, 2024, 2025 and 2026 are referred to herein as "fiscal 2023," "fiscal 2024" and "fiscal 2025," respectively.*

**Our Mission and Purpose**

Gloo's mission is to build the leading vertical technology platform for the faith and flourishing ecosystem, which we believe is one of the largest, oldest and least-digitized ecosystems in the world. Our purpose is to shape technology as a force for good, so people can flourish and communities can thrive. This is grounded in our belief that relationships catalyze growth, and when technology is used to serve relationships, it transforms lives.

The faith and flourishing ecosystem is vast and, we believe, a technologically underserved vertical that includes traditional Christian (primarily Protestant and Catholic) churches and a diverse network of ministries, nonprofits and service providers. According to a 2016 analysis conducted by the Interdisciplinary Journal of Research on Religion, the faith sector, including all religions of which Christianity is the largest in America, contributes approximately $1.2 trillion to the United States economy each year. According to IBISWorld, Christian organizations, which comprise our primary customer focus, accounted for 88% of the aggregate revenue of religious organizations in the United States in 2024. Although we have not undertaken an independent analysis to estimate the total addressable market for all of our current offerings or determined with precision the portion of this market that we may serve, we are confident that Gloo has substantial opportunities for continued growth. In the United States alone, the faith and flourishing ecosystem is estimated to include over 415,000 Christian organizations, comprised of over 315,000 Christian congregations according to the 2020 U.S. Religion Census by the Association of Statisticians of American Religious Bodies, as well as over 100,000 Christian nonprofit organizations according to the Cause IQ directory of nonprofits as of July 2025.

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![img208649791_8.jpg](img208649791_8.jpg)

**Overview**

Since our founding in 2013, we have offered a breadth of products, services and solutions to the two primary stakeholders at the core of the faith and flourishing ecosystem, network capability providers (NCPs) and the churches and frontline organizations (CFLs) they serve.

NCPs play an enabling role in the faith and flourishing vertical by equipping CFLs with products and services so CFLs can focus on their mission. These products and services include technology solutions, content, marketing services and donor services. CFLs serve as the heart of the faith and flourishing ecosystem, and include churches, ministries, nonprofits and service organizations, providing worship, educational programs, community outreach efforts and other social services support.

We have established a platform that connects NCPs and CFLs and facilitates sales of products and services between the two groups. Through our platform, CFLs gain access to curated resources and NCPs benefit from targeted distribution of their products and services to members of the ecosystem. The Gloo platform includes a suite of technology, marketplace, advertising and service solutions offered directly by us and by our wholly owned or consolidated subsidiaries, which we refer to as Gloo Capital Partners.

We generate revenue from NCPs through sales of enterprise subscriptions to outsourced technology, artificial intelligence (AI) capabilities and advertising (all of which we account for as platform revenue), as well as platform solutions. We generate platform revenue from CFLs through sales of subscriptions to communication tools, content libraries, data insights and AI capabilities, as well as through transactions on our and Gloo Capital Partners' e-commerce marketplaces, including Outreach, Inc., our largest online marketplace.

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![img208649791_9.jpg](img208649791_9.jpg)

We launched our company by offering free tools and services to CFLs, such as messaging and texting services, curated content and access to resources, with the goal of addressing widespread communication and engagement challenges between CFLs and their constituents. This strategy allowed us to accumulate a large and diverse user base of CFLs, while also continuing to develop more products and solutions. From the outset, our focus has been to create infrastructure for the faith and flourishing ecosystem that enables greater coordination among its participants and unlocks value for both NCPs and CFLs. We believe there is significant market fragmentation in the ecosystem and, to our knowledge, no other company has aggregated a comparable breadth and diversity of churches and faith-based organizations. We believe this scale and scope positions Gloo as a unifying force in the ecosystem and creates a meaningful and durable competitive advantage.

The strength of our platform today is the result of a deliberate sequence of strategic initiatives. These are described below and include catalyzing large-scale engagement through national media campaigns, such as State of the Church, He Gets Us and Churches Care, and expanding our platform through acquisitions and investments.

In fiscal 2023, Gloo was chosen to provide technology infrastructure for He Gets Us, a large national faith-aligned media campaign. This campaign created engagement between campaign audiences and thousands of participating churches. The campaign drove significant platform adoption by churches and accounted for the majority of our fiscal 2023 revenue, helping to establish Gloo as a central connector in the faith and flourishing ecosystem.

To expand on this momentum, we acquired Outreach in fiscal 2024. According to Grips, an e-commerce research and comparison tool, Outreach is a leading business-to-business provider of church-focused products and services. The acquisition provided us with one of the largest faith-based e-commerce marketplaces in the world, added thousands of CFLs to our platform and accounted for 87.8% of total revenue in fiscal 2024.

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Together, the He Gets Us campaign and our Outreach acquisition significantly increased the scale and reach of our platform, bringing tens of thousands of new CFLs to the platform. Beginning in the first quarter of fiscal 2025, we further diversified our revenue by adding new offerings to our platform, including advertising and enterprise-level solutions, now driven by Gloo360, our technology, data and consulting services offered to larger faith and flourishing organizations through enterprise subscriptions. For the six months ended July 31, 2024, we generated the majority of our revenue from sales of products and services through Outreach, and for the six months ended July 31, 2025, one third of our revenue was generated from Outreach.

We have scaled our platform through a combination of product innovation, customer growth and product suite penetration, as well as targeted acquisitions and investments in several NCPs with complementary technologies, products and customer relationships. Looking ahead, we are focused on growing our platform across subscriptions, advertising, marketplace transactions and NCP platform solutions. We are actively investing in and growing the Gloo Media Network, which provides marketing and advertising services to and through NCPs. In parallel, we are developing Gloo AI, our proprietary AI infrastructure designed to enable new applications for engagement, data insights and content creation to serve NCPs, publishers, content creators, denominations, donor platforms and developers. We also expect to continue to pursue strategic acquisitions and investments that expand platform capabilities, deepen integration across ecosystem participants and solidify our position as a trusted, unifying platform for the faith and flourishing ecosystem.

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**The Faith and Flourishing Ecosystem**

The faith and flourishing ecosystem constitutes a large and expanding cornerstone of our country. It encompasses all religions and is estimated to contribute over $1.2 trillion annually to the U.S. economy in 2016 and to include over 450,000 organizations in the United States. According to research conducted by IBISWorld, in the United States, the religious organizations sector employed approximately 1.7 million people in 2024 and is forecasted to increase to approximately two million by 2029. The ecosystem is not limited to churches; it also includes ministries, service organizations, educational institutions, health providers, nonprofits and other values-aligned organizations.

![img208649791_10.jpg](img208649791_10.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•According to two separate studies conducted by Barna Group, a Gloo Capital Partner, and Pew Research Center across 2023 and 2024, more than 60% of Americans identify as Christian.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Christian congregations range in size and structure, from large megachurches to small community gatherings, often affiliated with denominations and networks. According to the 2020 U.S. Religion Census, more than 315,000 Christian congregations operate across the country.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Religious participation remains a cornerstone of American life, bolstered by a culture of charitable giving. According to Pew Research Center, 33% of Americans attend a religious service monthly, making worship one of the most regular and widespread social gatherings in the country.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•According to 2025 Kentley Insights, from 2019 through 2023, religious organization revenue for all religions combined grew at a compound annual growth rate of 8.6% per year in the United States. This growth rate outpaced the 6.2% average for service industries in the same time period and ranked religious organizations in the top 20% of all service industries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The growth rate is estimated to be 6.6% in 2024 and forecasted at 4.9% in 2025. According to 2025 Kentley Insights, faith-based organizations of all religions generated over $245 billion in revenue in 2024.

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The importance of faith in American life extends across generations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Younger generations are increasingly stepping into philanthropic roles. According to a Giving USA Special Report from 2024, Millennials and Gen Z, often presumed to be less religiously affiliated, are showing renewed engagement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•According to the same report, Gen Z donors more than doubled their giving to faith-based organizations between 2021 and 2024, while Millennials reported a 57% increase in donations to places of worship in the same time period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•According to Barna, weekly church attendance is the strongest among Millennials, with nearly 40% reporting regular worship attendance as of 2022, suggesting a generational renewal in the faith landscape.

Religious organizations also play a pivotal role in broader philanthropic and social service landscapes. Faith-based entities operate a substantial portion of the nation's hospitals and educational institutions and have historically been major recipients of federal grants for social services.

***Human Flourishing***

The faith and flourishing ecosystem is far broader than churches alone. It includes a diverse set of for-profit and nonprofit organizations that help humans flourish across seven essential areas of life: spirituality, relationships, purpose, finances, health, character and contentment.

We define human flourishing as holistic well-being in these seven dimensions, a definition rooted in scripture, philosophy and psychological research. We believe that the rapid evolution of AI and other new technologies has the potential to either accelerate or undermine human flourishing. Gloo exists to help ensure that technology is shaped as a force for good. Our product development is informed by the ongoing Global Flourishing Study, a collaboration between Harvard, Baylor and Gallup, based on data from over 200,000 people across 22 countries.

Our platform serves organizations that specialize across the seven dimensions of the Global Flourishing Study framework, which are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Spirituality**: churches, ministries, Christian universities, seminaries

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Relationships**: counseling centers, parenting and marriage resources, community outreach organizations

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Purpose**: vocational training, community development, philanthropic networks

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Finances**: nonprofit lending, values-aligned insurance, human resources and retirement plans

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Health**: addiction recovery, mental health, wellness services, anti-trafficking organizations

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Character**: values-aligned content including faith-based films and digital media

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Contentment**: assessment tools, values-aligned publishers, wellness apps

Our platform connects and equips thousands of human flourishing organizations representing these dimensions, empowering them to serve millions of people within what we believe is one of the most resilient and purpose-driven verticals in the modern economy.

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**The Gloo Platform**

Our platform is built on four revenue streams: subscriptions, advertising and marketing, marketplace offerings and platform solutions. Gloo AI is increasingly integrated with our solutions, which we are designing to work seamlessly together to enable data exchange, machine learning, large language models, content licensing, content delivery and services to flow across the faith and flourishing ecosystem. Several of our existing products are AI-native tools and agents that incorporate AI from the beginning of their lifecycle, however, some of our Gloo Capital Partners are still early in their AI adoption with AI powering a small but growing number of their current products and services.

![img208649791_11.jpg](img208649791_11.jpg)

***Subscriptions***

We offer free, premium and enterprise subscription-based software and solutions to NCPs and CFLs. These offerings represent the foundational layer of the Gloo platform, enabling NCPs and CFLs to communicate, organize and operate more effectively. Our subscription offerings generate revenue through monthly and annual subscription agreements. For the six months ended July 31, 2025, approximately 70% of our revenue was recurring and re-occurring. Recurring revenue is derived from monthly or annual subscriptions and ongoing contracts, and accounted for approximately 44% of our total revenue for the six months ended July 31, 2025. Re-occurring revenue is derived from repeat customer purchases, most often of digital and physical products from Outreach, and accounted for more than 20% of our total revenue for the six months ended July 31, 2025.

*Gloo Workspace*

Gloo Workspace is a single, online entry point for resources designed to help a pastor or ministry leader lead, grow and operate his or her church or ministry, including content and insights, communications, tools, data insights and an e-commerce marketplace. Gloo Workspace offers proprietary AI-powered products for CFLs to understand and engage with the people they serve and their communities. Through Gloo Workspace, registered users can access our free communications product, which enables automated SMS text and email outreach. Paying users can subscribe to Gloo+, a premium subscription that includes tools that we and Gloo Capital Partners have developed for enhanced engagement, sermon preparation, generative AI content creation and audience analytics. Gloo+ is designed to provide a comprehensive view of community needs, presenting patterns and trends benchmarked against peer organizations. Gloo+ also provides discounted subscriptions to our full suite of software products. Registered users can also subscribe to these products individually through Gloo Workspace or through the websites of our Gloo Capital Partners.

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The suite of software products and licenses that we offer to CFLs include:

![img208649791_12.jpg](img208649791_12.jpg)

*Gloo360*

Gloo360 launched in the first quarter of fiscal 2025 and provides NCPs with subscription-based enterprise technology, data and consulting to support growth and operations. Through annual subscriptions, Gloo360 provides a comprehensive suite of solutions that includes cloud services and managed information technology (IT), cybersecurity and data protection, business intelligence and strategic consulting, custom software and digital solutions, helpdesk support, project management and e-commerce infrastructure.

Our IT systems and customer-facing services are delivered through a combination of in-house and third-party infrastructure. More specifically, Gloo360 maintains proprietary software and workflow tools that are hosted on third-party cloud service providers, including Amazon Web Services. These third-party providers furnish the underlying compute, storage and networking resources, while Gloo360 configures, manages and integrates these environments to deliver secure, scalable solutions to our customers. In addition, we deliver technology development and infrastructure services through our Gloo Capital Partners, Servant.io and Midwestern Interactive (Midwestern).

As part of Gloo360, we also provide ongoing management and administration of customer IT systems that are themselves third-party products, such as Salesforce, Microsoft Office 365 and other enterprise applications. In these cases, Gloo360 acts as the managed service provider, configuring, customizing, securing and supporting such systems on behalf of its customers, while the underlying software and infrastructure remain licensed from and operated by the third-party vendors.

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***Advertising and Marketing***

*Gloo Media Network*

Gloo Media Network is our suite of advertising technologies, marketing technologies and services. In fiscal 2024, we generated advertising revenue by selling advertising placements across Gloo-owned and -managed media properties. We are expanding this effort by further developing these offerings to help our customers engage donors. Gloo Media Network enables advertisers to reach and engage values-aligned audiences through targeted, data-informed advertising on Gloo-owned and -managed media properties. We believe Gloo Media Network will position us to become a leading media network for the faith and flourishing ecosystem.

Advertising placements on our platform, Outreach and other Gloo Capital Partner websites are offered through both audience-based and cost-per-click models. In addition, we expect Gloo Media Network will deliver full-service marketing capabilities, including creative services, campaign strategy and audience targeting.

We acquired Masterworks, Inc., a full-service marketing technology and donor engagement agency dedicated to values-aligned nonprofits and ministries, in the second quarter of fiscal 2025. We believe Masterworks will be a foundational part of the Gloo Media Network because Masterworks brings a deep technology stack and expertise in donor engagement, creative development and digital and physical marketing capabilities to our platform. Masterworks' offerings are supported by its robust analytics and predictive modeling, which we believe will enhance campaign performance, expand distribution across the Gloo Media Network and drive both advertising revenue and marketing services growth.

*Outreach*

The Outreach portfolio of online brands also produces and curates ministry-specific content and resources that drive traffic by CFL leaders and generate advertising revenue. These brands include the following:

![img208649791_13.jpg](img208649791_13.jpg)

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***Marketplace***

We operate e-commerce marketplaces that enable CFLs to discover and purchase a combination of free and paid, physical and digital products, including curriculums, marketing collateral and church supplies from a select group of NCPs that serve the needs of the faith and flourishing ecosystem. Customers can access the marketplaces through Outreach and directly from Gloo Workspace.

Outreach brings many longstanding customer relationships allowing for targeted go-to-market CFL products, services and campaigns that increase product visibility and accelerate adoption. By leveraging this well-established brand, we are able to drive revenue. Sales through Outreach accounted for 98.3% and 96.4% of our marketplace revenue in fiscal 2024 and for the six months ended July 31, 2025, respectively. Revenue is generated through recurring, re-occurring and one-time marketplace purchases of physical and digital products.

***Platform Solutions***

We deliver enterprise-level infrastructure and technology development services to NCPs, enabling their digital transformation. Our current and paying customers, to whom we provide full-service technology development, include some of the faith and flourishing ecosystem's most well-known brands, including YouVersion (a Bible app) and Come and See Foundation (The Chosen TV series). Our current infrastructure and technology development services are delivered primarily through two Gloo Capital Partners, Servant.io and Midwestern, which also provide technology development for Gloo's internal engineering teams. Platform solutions generate revenue through monthly and annual contracts with NCPs seeking scalable infrastructure, operational leverage and long-term strategic alignment.

Servant.io and Midwestern are digital and technology consultancies that offer specialized expertise in the faith and flourishing ecosystem, providing growth strategy, workflow automation and product development by leveraging the Gloo platform. Our teams bring deep experience in working with ministries and nonprofits, delivering services such as web and application design, product design and embedded talent solutions. These capabilities help customers scale digital experiences, maintain and modernize technology infrastructure and accelerate delivery.

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**Our Growth Drivers**

Our platform is built to capitalize on powerful network flywheel effects created through the addition of more NCPs, CFLs and their offerings to our platform, as illustrated below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**More NCPs Join the Platform**: Gloo attracts mission-aligned NCPs onto our platform.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Creates More Subscription and Marketplace Offerings**: More NCPs joining the platform leads to more technology and marketplace offerings on our platform.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Activates More CFLs and Platform Frequency**: As offerings grow, more CFLs engage with the platform, increasing adoption, daily usage and purchasing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**More Data and Content**: With increased scale of CFLs, Gloo advances proprietary AI capabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Provides More Value to NCPs and CFLs and Generates Diversified Revenue Streams**: The entire ecosystem drives subscription, advertising, marketplace and platform solutions revenue.

![img208649791_14.jpg](img208649791_14.jpg)

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This flywheel is accelerated by our four core growth drivers:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Acquisitions and Investments**: We expect acquisitions and investments to be the primary driver of our revenue growth. We focus on strategic acquisitions of, and investments in, NCPs to further expand the capabilities and users on our platform. However, we do not currently intend to use the proceeds from this offering for any specific acquisition or investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Enterprise Sales**: Our enterprise sales team focuses on sales of Gloo360, sales of advertising and platform solutions to NCPs and adding NCP offerings to our platform.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Digital Growth**: Our digital growth team focuses on adding CFLs to our platform through digital-led marketing and lead generation, accelerating flywheel effects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**AI Transformation**: We are developing easy-to-deploy AI capabilities for CFLs and NCPs that are designed to streamline operations, enhance content creation and improve community engagement.

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![img208649791_15.jpg](img208649791_15.jpg)

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***Acquisitions and Investments***

Gloo Capital Partners refers to the portfolio of organizations that we have acquired or in which we hold a consolidating interest to expand the breadth, depth and value of our platform. These mission-aligned businesses represent core strategic assets that expand our capabilities across media, content, software and services. By integrating these businesses into our platform and go-to-market infrastructure, we seek to enhance product offerings, deepen network engagement and drive scalable impact across the faith and flourishing ecosystem.

Through July 31, 2025, we have acquired a full or consolidating interest in more than 15 mission-aligned Gloo Capital Partners that develop and sell products through online marketplaces or provide software and solutions to the faith and flourishing ecosystem, through transactions that qualified as either business combinations or asset acquisitions. Revenue generated by Gloo Capital Partners accounted for a substantial percentage of our revenue in fiscal 2024 and for the six months ended July 31, 2025, which we believe is indicative of the critical role of Gloo Capital Partners in our platform expansion and value creation.

***Enterprise Sales***

NCPs are an integral part of our business, delivering their offerings to CFLs through our platform while also purchasing platform capabilities and services to power their own operations. Through our enterprise NCP sales model, we engage directly with NCPs to provide access to our technology and advertising services, Gloo360 technology services and platform solutions. Our approach is designed to fuel platform expansion by onboarding new offerings and driving sustained customer growth.

Additionally, we intend to offer Gloo Impact, which is a product in beta that we are designing to enhance philanthropic outreach and charitable contributions by visualizing real time impact through AI generated data dashboards, escrow-like fund management and capital deployment based on verified milestones of ministry outcome. This potential growth driver holds money in escrow within a donor impact fund, distributes that money to qualified NCPs or CFLs based on verifying milestone achievement and visualizes the outcomes with a real-time impact dashboard.

***Digital Growth***

Our self-service onboarding gives users access to Gloo Workspace and is designed to empower churches to independently access both free and premium tools, driving scalable, organic adoption across the platform. With platform adoption growing to over 140,000 churches and ministry leaders as of July 31, 2025, up from 74,000 as of January 31, 2024, we offer a ready-made distribution channel for NCPs and a powerful engine for potential reach, engagement and recurring revenue.

***AI Transformation***

We are developing vertical-specific, values-aligned AI designed to serve the unique needs of the faith and flourishing ecosystem. Our AI approach is primarily developed by us but accelerated through third-party, open-source foundation models. For example, our data engine, ingestion, enrichment and other business logic and domain-specific fine-tuning are all internally developed and proprietary, while many of our conversational and generative AI features and APIs are underpinned by third-party and open-source base models.

*Strategic Areas of AI Development*

Our strategy is to lead AI deployments in three important areas:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Values-Aligned AI** – AI designed to help humans flourish in all areas of life based on flourishing principles, rather than optimizing for engagement metrics that may harm mental health.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Language and Voice AI** – World-class translation and voice technology that serves a large number of languages and prioritizes underserved populations where AI is not yet available in their language. We expect this to be further enhanced after our pending acquisition of XRI Global, a leading provider of AI-driven language and translation technologies for the faith and flourishing ecosystem.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**AI Licensing** – Facilitating the exchange that gives AI companies and developers ethical access to high-quality content with fair compensation models for publishers and creators.

*AI Product Maturity Framework*

In our suite of products and services, we distinguish between three stages of AI maturity: AI-native, AI-enhanced or early AI-adoption and non-AI enhanced. This framework helps illustrate where AI is embedded from inception and where it is being incrementally integrated.

<u>AI-Native Products and Services</u>

These are architected with AI at their core, leveraging our proprietary multi-agent orchestration, data engine and licensing infrastructure:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Gloo AI Chat** – Our flagship conversational AI tool, providing multimodal values-aligned experiences grounded in spiritual wisdom, ethical guidance and practical life support. Architected with retrieval-augmented generation (RAG) pipelines, profile- and memory-aware inference and rights-aware sourcing, Gloo AI Chat serves business-to-business teams, enterprises and white-label deployments. It is currently in beta and is expected to launch this fall.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Gloo AI Data Engine** – A proprietary enrichment and retrieval service that transforms raw content, including books, sermons, transcripts and media, into structured, AI-optimized knowledge bases. Through ingestion, tagging, indexing and enrichment pipelines, it produces transcripts, metadata, embeddings and derivative assets optimized for semantic retrieval and integration into AI tools.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Gloo AI APIs** – Developer-facing services for enrichment, retrieval, inference and orchestration. These include:

o**Data Engine Service API** – enabling ingestion and enrichment of content.

o**Search API** – hybrid semantic and symbolic search across theological, scriptural and flourishing categories.

o**Completions API** – orchestrated inference routed through expert models and tool agents.

o**Chat API** – retrieval-augmented conversational output with citations and values alignment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Gloo AI Licensing Platform** – A transparent digital rights management and licensing infrastructure that enables ethical access to content for AI training and inference. It embeds enforceable licensing terms, attribution and automated royalty distribution, giving publishers and creators control and revenue while allowing developers to safely integrate licensed content.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Church.Tech** – Soon to be integrated into Gloo Workspace, an AI-native platform for ministry operations that acts as a content studio for churches. Designed from inception as an AI-first product, it enables pastors and ministry leaders to generate, adapt and distribute content using values-aligned generative AI.

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<u>AI-Enhanced or Early AI-Adoption</u>

These are established products where AI features are being introduced to augment existing workflows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Gloo Workspace** – A comprehensive platform for pastors and ministry leaders that incorporates AI to support communications, sermon preparation, community engagement insights, generative content and outcome measurement. It also offers Gloo+, a subscription tier with enhanced engagement and analytics tools.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Gloo360** – Enterprise services that leverage AI for managed operations, advanced analytics, agentic workflows, recommendation systems and custom enterprise builds for faith-based organizations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Visitor Reach** – A product embedding AI to optimize outreach strategies and improve church visitor engagement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Carey Nieuwhof Platform** – Experimenting with AI-powered content generation, personalization and recommendation features for ministry and leadership resources.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Igniter Media –** Integrating AI into its creative content platform to enhance media discovery, automate tagging and recommendations, and provide churches with generative tools for producing and customizing visual and video assets.

For these products, AI is not yet the foundational architecture, as is the case for the majority of software products today, but rather a growing set of enhancements layered onto proven products. Over time, many of these offerings are expected to evolve toward AI-native states.

*Proprietary, Open Source, Licensed and Frontier AI*

All of our AI products rely on a hybrid approach:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Proprietary AI** – Gloo-developed orchestration, domain-specific fine-tuning, RAG pipelines, alignment and safety layers, licensing enforcement and data enrichment systems. These represent the core of our proprietary AI.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Open Source AI** – We are model-agnostic and accelerate development through widely adopted open-source large language models, such as LLaMA, Qwen and DeepSeek, which we fine-tune and RAG-enhance using our proprietary methods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Licensed AI** – Where beneficial, we incorporate licensed AI frameworks, such as LangChain, Open Meter and Weaviate, or specialized APIs to complement our proprietary AI.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Frontier AI** –We use major frontier AI technologies from providers such as OpenAI, Anthropic and Google to provide values-aligned AI capabilities to the faith and flourishing ecosystem, but we are not substantially dependent on any single frontier LLM provider. We are selectively modest on the use of these technologies.

Our hybrid approach to AI allows us to benefit from global advances in open-source and frontier AI while maintaining differentiation through our proprietary orchestration, datasets and alignment layers.

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*Datasets and Training Sources*

Our AI products are differentiated by one of the largest vertically aligned datasets for faith and flourishing, covering books, sermons, media and academic content. Our models and applications are trained and grounded on a combination of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Internal Datasets** – Gloo and Gloo Capital Partner-owned content ingested and enriched by the Gloo AI data engine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Licensed Datasets** – Subset of faith-based publishers, ministries and creators who have licensed their content managed by the Gloo AI licensing platform.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Public Datasets** – Responsibly sourced open content that complements proprietary and licensed corpora.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Synthetic Datasets** – AI-generated content and datasets produced through proprietary approaches.

All datasets are peer-reviewed by theological and domain experts to ensure accuracy, alignment and trustworthiness.

*Ecosystem and Partnerships*

Beyond our internal products, Gloo AI is integrated into Gloo Capital Partner offerings. We are also seeing strong traction with developers, publishers and next-generation content providers. We are in active discussions with several leading faith-based technology platforms to power new audio, language and conversational capabilities through Gloo AI. We believe these potential partnerships will accelerate adoption of Gloo AI across the global faith ecosystem.

**Our Competitive Strengths**

Connecting what we believe to be one of the largest ecosystems in humanity requires a diverse set of skills and strengths. We believe our competitive strengths include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Connecting a Large, Diverse and Fragmented Faith and Flourishing Ecosystem** – With over 140,000 churches and ministry leaders and over 3,000 active NCPs on our platform as of July 31, 2025, we believe we have built a trusted digital environment at scale in the faith and flourishing ecosystem. To our knowledge, no other company has aggregated a comparable breadth and diversity of ecosystem participants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Differentiated Access to Ecosystem Relationships** – We believe our ability to convene the ecosystem is a core differentiator. This is rooted in our extensive relational capital, cultivated through over ten years of trust-building and delivering value to the ecosystem. We facilitate dialogues that lead to actionable solutions and strengthened partnerships, contributing to current and future customers, as well as Gloo Capital Partner acquisitions and investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Developing AI for the Faith and Flourishing Ecosystem** – As a pioneer in leveraging AI specifically for the faith and flourishing ecosystem, we believe Gloo is positioned to unite stakeholders (including publishers, developers and consumers) around the transformative potential of AI and to further expand our revenue models. We are uniting AI experts, theologians and ministry leaders in co-creating solutions that are designed to be ethical, effective and aligned with the values of human flourishing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Demonstrated Strategic Vision and Execution** – As of July 31, 2025, we have executed more than 15 strategic investments and acquisitions across key segments of the faith and flourishing ecosystem, integrating high-value NCPs with proprietary products, strong customer relationships and established market presence.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Experienced Board and Management Team** – We are led by what we believe is a world-class board and executive team with deep expertise in both technology and the markets in which we operate. The team brings a proven track record in building scalable platforms, driving digital transformation, and forging high-impact partnerships. Scott Beck, our co-founder, president and chief executive officer, is a veteran entrepreneur with over 40 years of experience in scaling businesses such as Blockbuster and Home Advisor. Pat Gelsinger, our executive chair and head of technology, brings more than 45 years of technology leadership, including his most recent role as chief executive officer of Intel. They are joined by seasoned leaders with experience from Meta, YouVersion, McKinsey, Christianity Today and Hobby Lobby, forming a strongly qualified team to execute our growth strategy and scale Gloo's impact across the faith and flourishing ecosystem.

**Risk Factors Summary**

Our business is subject to numerous risks and uncertainties, including those highlighted in the section titled "Risk Factors" immediately following this prospectus summary. The following is a summary of the principal risks we face:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•We have limited operating history and experience with scaling our platform, which makes it difficult to evaluate our business and prospects and forecast our future results.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Our recent growth may not be sustainable or indicative of future performance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•We have a history of net losses and may not achieve profitability in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•There is no assurance that we will be able to continue as a going concern without achieving profitable operations or raising additional capital through potential equity or debt financing transactions, which we may not be able to obtain on favorable terms or at all.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•If we fail to acquire new customers or the faith and flourishing ecosystem does not develop as we anticipate, our sales will not grow as quickly as expected, or at all, and our business, financial condition and results of operations will be harmed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•If we fail to retain our customers, or our customers do not renew or extend their subscriptions or other contracts, or renew or extend on less favorable terms, our revenue may decline or grow less quickly than anticipated, which would harm our business, financial condition and results of operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•A decrease in charitable donations or other external funding of our customers and potential customers may result in reduced demand for our platform offerings, which could adversely affect our business, results of operations, financial condition and prospects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Failure to effectively develop and expand our sales and marketing capabilities, including reliance on product-led sales efforts, could harm our ability to increase our customer base and achieve broader market acceptance and utilization of our platform.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•We are subject to certain risks as a mission-driven company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•We depend on Mr. Beck and our senior management team to operate our business, and the loss of one or more of them could adversely affect our business.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•If we do not continue to innovate and further develop our platform offerings, if our platform developments do not perform as anticipated or if we are not able to keep pace with technological developments, we may not remain competitive, and our business, results of operations, financial condition and prospects could be adversely affected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•If we fail to develop, maintain and enhance our brand and reputation cost-effectively, our business, financial condition and results of operations could be adversely affected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The markets in which we participate are competitive, and if we do not compete effectively, our business, financial condition and results of operations could be harmed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•We may require additional capital to support the growth of our business, and this capital might not be available on favorable terms or at all.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Revenues and profits generated through our acquisitions and investments may be less than anticipated, and we may fail to uncover all acquired liabilities that could result in unanticipated costs, losses, declines in profits and potential impairment charges, and for which we may not be indemnified in full.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•If we are unable to identify attractive acquisition or investment targets, acquire or invest in them at attractive prices or successfully integrate their operations or otherwise realize their anticipated benefits, we may be unsuccessful in growing our business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Sellers in our acquisition of Visitor Reach and investment in Midwestern have repurchase rights during specified periods, and any exercise of such rights could adversely affect our business, financial condition and results of operations. The existence of the repurchase rights may increase the likelihood of impairment charge, complicate the overall integration process and decrease the benefits potentially realizable from investment synergies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Interruptions or performance problems associated with our platform and the technology we use might harm our business, financial condition and results of operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•We are developing new AI platform offerings and incorporating AI-technology into certain of our platform offerings, which may result in operational, financial and reputational harm and other adverse consequences to our business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Our business is subject to complex and evolving laws, regulations and industry standards, and unfavorable interpretations of, or changes in, or our actual and perceived failure to comply with these laws, regulations and industry standards could substantially harm our business and results of operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•We identified material weaknesses in our internal control over financial reporting in connection with the preparation and audit of our financial statements for the fiscal years ended January 31, 2024 and 2025, and we may identify additional material weaknesses in the future that may cause us to fail to meet our reporting obligations or result in material misstatements of our financial statements. If we fail to remediate existing material weaknesses, identify additional material weaknesses or fail to establish and maintain effective internal control over financial reporting, our ability to accurately and timely report our financial results could be adversely affected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•As a result of the shutdown of the federal government, we intend to rely on Section 8(a) of the Securities Act to cause the registration statement of which this prospectus forms a part to become effective automatically. Our reliance on Section 8(a) could result in a number of adverse consequences, including the potential for a need for us to file a post-effective amendment and distribute an updated prospectus to investors, or a stop order being issued preventing use of the registration statement, and a corresponding substantial stock price decline, litigation, reputational harm and other negative results.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•After this offering, you will own single-vote-per-share Class A common stock while our co-founder, president and chief executive officer, Mr. Beck, and his affiliates will own shares of our ten-votes-per-share Class B common stock. Accordingly, Mr. Beck will control a significant portion of the voting power of our outstanding capital stock and your ability to influence or direct the outcome of key corporate actions and transactions, including a change in control, will be limited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Our quarterly results might fluctuate and if we fail to meet the expectations of analysts or investors, our stock price and the value of your investment could decline substantially.

Our Risk Factors are not guarantees that no such conditions exist as of the date of this prospectus and should not be interpreted as an affirmative statement that such risks or conditions have not materialized, in whole or in part.

**Channels for Disclosure of Information**

Investors, the media and others should note that, following the effectiveness of the registration statement of which this prospectus forms a part, we intend to announce material information to the public through filings with the Securities and Exchange Commission (SEC), the investor relations page on our website, press releases, public conference calls and webcasts.

The information disclosed by the foregoing channels could be deemed to be material information. As such, we encourage investors, the media and others to follow the channels listed above and to review the information disclosed through such channels. However, information disclosed through these channels does not constitute part of this prospectus and is not incorporated by reference herein.

Any updates to the list of disclosure channels through which we will announce information will be posted on the investor relations page on our website.

**Corporate Reorganization**

We currently operate as Gloo Holdings, LLC, a Delaware limited liability company. For purposes of this offering, we formed Gloo Holdings, Inc., a Delaware corporation, which is the registrant in this offering. Immediately prior to the completion of this offering, we will complete a series of internal reorganization transactions pursuant to which, among other things, a Delaware limited liability company and wholly owned subsidiary of Gloo Holdings, Inc. will merge with and into Gloo Holdings, LLC, with Gloo Holdings, LLC as the surviving entity. As a result, Gloo Holdings, LLC will become a wholly owned subsidiary of Gloo Holdings, Inc., and the members of Gloo Holdings, LLC immediately prior to the consummation of the merger will become holders of shares of Class B common stock of Gloo Holdings, Inc. We refer to the reorganization transactions throughout this prospectus collectively as the "Corporate Reorganization." For more information, see the section titled "Corporate Reorganization."

**Corporate Information**

We were originally formed as Gloo Holdings, LLC, a Delaware limited liability company, in November 2013. Gloo Holdings, Inc., a Delaware corporation, was incorporated on May 9, 2025 as a wholly owned subsidiary of Gloo Holdings, LLC and, following the Corporate Reorganization that will be completed prior to the completion of this offering, Gloo Holdings, Inc. will become the parent company of Gloo Holdings, LLC and the holding company of all of our operations. Our principal executive offices are located at 831 Pearl Street, Boulder, Colorado 80302 and our telephone number is (303) 381-2645. Our website address is *www.gloo.com*. Information contained on, or that can be accessed through, our website or linked therein or otherwise connected thereto is not a part of, and is not incorporated into, this prospectus or the registration statement of which this prospectus forms a part. We have included our website address in this prospectus solely as an inactive textual reference.

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We use Gloo, the Gloo logo and other marks as trademarks in the United States and other countries. This prospectus contains references to our trademarks and service marks and to those belonging to other entities. Solely for convenience, trademarks and trade names referred to in this prospectus, including logos, artwork and other visual displays, may appear without the <sup>®</sup> or <sup>TM</sup> symbols, but such references are not intended to indicate in any way that we will not assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensor to these trademarks and trade names. We do not intend our use or display of other entities' trade names, trademarks or service marks to imply a relationship with, or endorsement or sponsorship of us by, any other entity.

**Implications of Being an Emerging Growth Company and a Smaller Reporting Company**

We are an "emerging growth company" as defined in the Jumpstart Our Business Startups Act of 2012, as amended (the JOBS Act). As such, we may take advantage of reduced disclosure and other requirements otherwise generally applicable to public companies, including, but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•presentation of only two years of audited financial statements and related financial disclosure, in addition to any required unaudited interim financial statements, with correspondingly reduced disclosure in the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•exemption from the requirement to have our registered independent public accounting firm attest to management's assessment of our internal control over financial reporting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•exemption from compliance with the requirement of the Public Company Accounting Oversight Board (PCAOB) regarding the communication of critical audit matters in the auditor's report on the financial statements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•reduced disclosure about our executive compensation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•exemptions from the requirements to hold non-binding advisory votes on executive compensation and on the frequency of such votes as well as stockholder approval of any golden parachute arrangements not previously approved.

We will remain an emerging growth company until the earliest to occur of: (1) the last day of the fiscal year in which we have at least $1.235 billion in annual revenue; (2) the date we qualify as a "large accelerated filer," with at least $700.0 million of equity securities held by non-affiliates as of the last business day of our most recently completed second fiscal quarter; (3) the date on which we have issued more than $1.0 billion in non-convertible debt securities during the prior three-year period; and (4) the last day of the fiscal year ending after the fifth anniversary of the completion of this offering.

As a result of this status, we have taken advantage of reduced disclosure requirements in this prospectus and may elect to take advantage of other reduced reporting requirements in our future filings with the SEC. In particular, in this prospectus, we have provided only two years of audited financial statements and only two years of related management's discussion and analysis of financial condition and results of operations, and we have not included all of the executive compensation-related information that would be required if we were not an emerging growth company. In addition, the JOBS Act provides that an emerging growth company may take advantage of an extended transition period for complying with new or revised accounting standards, delaying the adoption of these accounting standards until they would apply to private companies unless it otherwise irrevocably elects not to avail itself of this exemption. We have elected to use this extended transition period for complying with new or revised accounting standards until we are no longer an emerging growth company or until we affirmatively and irrevocably opt out of the extended transition period. As a result, our consolidated financial statements may not be comparable to the financial statements of companies that comply with new or revised accounting pronouncements as of public company effective dates.

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See the section titled "Risk Factors—Risks Related to Regulation and Taxation—We are an emerging growth company and a smaller reporting company, and any decision on our part to comply only with certain reduced reporting and disclosure requirements applicable to emerging growth companies and smaller reporting companies could make our Class A common stock less attractive to investors."

We are also a "smaller reporting company" as defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the Exchange Act). We will remain a smaller reporting company until the last day of the fiscal year in which the aggregate market value of our Class A common stock that is held by non-affiliates is at least $250 million or the last day of the fiscal year in which we have at least $100 million in revenue and the aggregate market value of our Class A common stock that is held by non-affiliates is at least $700 million (in each case, with respect to the aggregate market value of our Class A common stock held by non-affiliates, as measured as of the last business day of the second quarter of such fiscal year). If we are a smaller reporting company at the time we cease to be an emerging growth company, we may continue to rely on exemptions from certain disclosure requirements that are available to smaller reporting companies. Specifically, as a smaller reporting company we may choose to present only the two most recent fiscal years of audited financial statements in our Annual Report on Form 10-K and, similar to emerging growth companies, smaller reporting companies have reduced disclosure obligations regarding executive compensation. See the section titled "Risk Factors—Risks Related to Regulation and Taxation—We are an emerging growth company and a smaller reporting company, and any decision on our part to comply only with certain reduced reporting and disclosure requirements applicable to emerging growth companies and smaller reporting companies could make our Class A common stock less attractive to investors."

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**THE OFFERING**

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| | |
|:---|:---|
| Class A common stock offered by us | 9,100,000\* shares.  |
| Underwriters' option to purchase additional shares from us | 1,365,000\* shares. |
| Class A common stock to be outstanding immediately after this offering | 9,100,000 shares (or 10,465,000 shares if the underwriters exercise their option to purchase additional shares in full). |
| Class B common stock to be outstanding immediately after this offering | 63,682,999 shares. |
| Total Class A common stock and Class B common stock to be outstanding immediately after this offering | 72,782,999 shares (or 74,147,999 shares if the underwriters exercise their option to purchase additional shares in full). |
| Use of proceeds | We estimate that the net proceeds from the sale of shares of our Class A common stock in this offering will be approximately $87.8 million (or approximately $101.8 million if the underwriters exercise their option to purchase additional shares in full), based on the assumed initial public offering price of $11.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us.<br>The principal purposes of this offering are to increase our capitalization and financial flexibility, create a public market for our Class A common stock, facilitate future access to the public equity markets by us, our employees and our stockholders, and increase our visibility in the marketplace. We currently intend to use the net proceeds from this offering for general corporate purposes, including acquisitions and investments in businesses, products, services or technologies, working capital, operating expenses and capital expenditures. However, we do not have agreements or commitments for any such acquisitions or investments at this time. See the section titled "Use of Proceeds." |
| Voting rights | Each share of our Class A common stock will be entitled to one vote per share and each share of our Class B common stock will be entitled to ten votes per share. Holders of our Class A common stock and Class B common stock will generally vote together as a single class, unless otherwise required by law or our certificate of incorporation. Immediately following the completion of this offering, Scott Beck, our co-founder, president and chief executive officer, will control 43.4% of the voting power of our outstanding capital stock. As a result, Mr. Beck will be able to significantly influence any action requiring the approval of our stockholders, including the election of our board of directors, the adoption of amendments to our certificate of incorporation and bylaws and the approval of any merger, consolidation, sale of all or substantially all of our assets, or other major corporate transaction. See the section titled "Description of Capital Stock." |

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| | |
|:---|:---|
| Directed share program | At our request, the underwriters have reserved up to 5% of the shares of Class A common stock offered by this prospectus for sale at the initial public offering price through a directed share program available to our directors, officers, employees and their friends and family members and other persons and parties who do business with us. The sales will be administered by Fidelity Brokerage Services LLC and Fidelity Capital Markets, a division of National Financial Services LLC (Fidelity). We do not know if these parties will choose to purchase all or any portion of these reserved shares, but any purchases they do make will reduce the number of shares available to the general public. Any reserved shares that are not so purchased will be offered by the underwriters to the general public on the same terms as the other shares of Class A common stock offered by this prospectus. See the section titled "Underwriting" for additional information. |
| Risk factors | See the section titled "Risk Factors" and other information included in this prospectus for a discussion of factors you should carefully consider before deciding to invest in our Class A common stock. |
| Proposed trading symbol | "GLOO" |

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\* Does not include an additional 2,093,000 shares of Class A common stock that we have registered with the SEC, which may be issued and sold if the number of shares included in this offering is increased, including a corresponding increase in the underwriters' option to purchase additional shares.

The total number of shares of Class A common stock and Class B common stock that will be outstanding immediately after this offering is based on 9,100,000 shares of our Class A common stock and 63,682,999 shares of our Class B common stock outstanding as of July 31, 2025, after giving effect to the Corporate Reorganization, including the Reverse Split (as defined below), and the Notes Conversion as if they had occurred on July 31, 2025, and reflects:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•115,431,806 Series A preferred units that will be exchanged for 38,477,268 shares of our Class B common stock as part of the Corporate Reorganization, including 63,172 Series A preferred units that will be exchanged for 21,057 shares of our Class B common stock held by our consolidated subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•24,651,074 common units that will be exchanged for 8,217,024 shares of our Class B common stock as part of the Corporate Reorganization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•7,490,000 Incentive Units that will be exchanged for 609,748 shares of our Class B common stock as part of the Corporate Reorganization, all of which will be restricted stock subject to time-based vesting conditions; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•16,378,959 shares of Class B common stock issuable upon the automatic conversion of our A&R Senior Secured Notes (as defined herein), which will occur concurrently upon the closing of this offering as detailed in the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations—Sources and Uses of Funds," calculated based on an assumed initial public offering price of $11.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, and accrued payment-in-kind interest through November 20, 2025 (the Notes Conversion).

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For illustrative purposes only, the following table sets forth, at various initial public offering prices, the number of shares of our Class B common stock issuable in the Notes Conversion. The conversion price per share underlying the A&R Senior Secured Notes is the lesser of 80% of the initial public offering price per share and $30.00.

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| | |
|:---|:---|
| **Assumed Initial Public Offering Price** | **Class B Common Stock Issuable** |
| $9.00 | 20018739 |
| $10.00 | 18016865 |
| $11.00 | 16378959 |
| $12.00 | 15014054 |
| $13.00 | 13859127 |

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The total number of shares of our Class A common stock and Class B common stock to be outstanding as of July 31, 2025, after giving effect to the Corporate Reorganization and the Notes Conversion as if they had occurred on July 31, 2025, excludes the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•4,756,392 shares of our Class B common stock issuable upon the exercise of outstanding options under the Gloo Holdings, LLC Membership Unit Option Plan (the 2014 Plan), as of July 31, 2025, with a weighted-average exercise price of $13.83 per share, based on a three-for-one common unit-to-Class B common stock share exchange ratio as part of the Corporate Reorganization and which does not take into account the Option Repricing (as defined below); <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•199,999 shares of Class B common stock issuable upon the exercise of warrants outstanding as of July 31, 2025, with a weighted-average exercise price of $18.00 per share, based on a three-for-one warrant-to-Class B common stock share exchange ratio as part of the Corporate Reorganization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•13,357,842 shares of Class A common stock reserved for future issuance under the 2025 Plan, which will become effective on the business day immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part;

othe shares reserved for future issuance under the 2025 Plan include 6,671,297 shares of Class A common stock (based on an assumed initial public offering price of $11.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus) issuable upon the exercise of stock options which we intend to grant in connection with this offering, including to holders of Incentive Units as well as certain other employees and non-employee directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•500,000 shares of Class A common stock reserved for future issuance under our 2025 Employee Stock Purchase Plan (the ESPP), which will become effective on the business day immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•197,663 shares of Class B common stock issuable upon the exchange of 592,991 exchangeable shares of one of our wholly owned subsidiaries as of July 31, 2025, based on a three-for-one exchangeable share-to-Class B common stock share exchange ratio as part of the Corporate Reorganization; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•346,244 shares of Class A common stock that we expect to issue in connection with the closing of our pending acquisition of XRI Global.

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In October 2025, our board of directors approved the repricing of certain stock options previously granted under the 2014 Plan to current executive officers, employees and directors which, in connection with this offering and the Corporate Reorganization will be assumed and converted into options to purchase shares of our Class B common stock on a three-for-one basis as part of the Corporate Reorganization (the Assumed Options), with corresponding adjustments to (i) the number of shares of Class B common stock underlying such Assumed Options, (ii) the per share exercise price of each such Assumed Option, and (iii) other adjustments as required under Section 409A of the Internal Revenue Code of 1986, as amended (the Code). All Assumed Options with per-share exercise prices above the initial price per share to the public in this offering which were "underwater", meaning that the exercise price per share of these Assumed Options was greater than the current fair market value of our Class B common stock will be repriced effective on the date of the pricing of this offering (the Option Repricing) to reduce the exercise price per share of such underwater Assumed Options to the initial price per share to the public in this offering, the fair market value of our Class A common stock on the date of the Option Repricing.

The 2025 Plan and the ESPP each provide for annual automatic increases in the number of shares of our Class A common stock reserved thereunder, and the 2025 Plan also provides for increases to the number of shares of our Class A common stock that may be granted thereunder based on shares subject to options granted under the 2014 Plan that expire, are tendered to or withheld by us for payment of an exercise price or for satisfying tax withholding obligations, or are forfeited or are repurchased by us, as more fully described in the section titled "Executive Compensation—Employee Benefit and Stock Plans." <br>

Except as otherwise indicated, all information in this prospectus assumes or gives effect to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the filing and effectiveness of our amended and restated certificate of incorporation and the adoption of our amended and restated bylaws, which will occur prior to the closing of this offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the completion of the Corporate Reorganization, including a three-for-one unit-to-stock exchange (the Reverse Split);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the completion of the Notes Conversion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•no exercise of outstanding options or warrants described above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•no purchase of shares of our Class A common stock in this offering, including pursuant to our directed share program, by our directors, executive officers or existing stockholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•no exercise of the underwriters' option to purchase additional shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•no issuance and sale of the additional 2,093,000 shares of our Class A common stock that we have registered with the SEC, which may be issued and sold if the number of shares included in this offering is increased, including a corresponding increase in the underwriters' option to purchase additional shares.

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**SUMMARY CONSOLIDATED FINANCIAL AND OTHER DATA**

The following tables set forth our summary consolidated financial and other data. The summary consolidated statements of operations data for the years ended January 31, 2024 and 2025 have been derived from our audited consolidated financial statements included elsewhere in this prospectus. The summary condensed statements of operations data for the six months ended July 31, 2024 and 2025, and the summary condensed consolidated balance sheet data as of July 31, 2025, are derived from our unaudited interim consolidated financial statements that are included elsewhere in this prospectus. The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, that are necessary for the fair statement of our unaudited interim consolidated financial statements. Our historical results are not necessarily indicative of the results that may be expected in the future.

You should read the following summary consolidated financial data in conjunction with the sections titled "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Capitalization" and "Unaudited Pro Forma Consolidated Financial Information," as well as our consolidated financial statements and

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related notes included elsewhere in this prospectus. The summary consolidated financial data in this section are not intended to replace, and are qualified in their entirety by, the consolidated financial statements and related notes.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Historical** | **Historical** | **Historical** | **Historical** | **Pro Forma**<sup>(1)</sup> | **Pro Forma**<sup>(1)</sup> |
|  | **Years Ended January 31,** | **Years Ended January 31,** | **Six Months Ended July 31,** | **Six Months Ended July 31,** | **Year Ended** | **Six Months Ended** |
|  | **2024** | **2025** | **2024** | **2025** | **January 31,<br>2025** | **July 31, 2025** |
|  | **(in thousands, except unit/share data)** | **(in thousands, except unit/share data)** | **(in thousands, except unit/share data)** | **(in thousands, except unit/share data)** | **(in thousands, except unit/share data)** | **(in thousands, except unit/share data)** |
| **Consolidated Statements of Operations Data:** |  |  |  |  |  |  |
| Revenue: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Platform revenue | $2176 | $22873 | $10463 | $17241 | $22873 | 17241 |
| &nbsp;&nbsp;&nbsp;&nbsp;Platform solutions revenue | 13325 | 330 | 121 | 11234 | 10324 | 15219 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenue | 5788 | 13 | 13 |  | 13 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 21289 | 23216 | 10597 | 28475 | 33210 | 32460 |
| Operating expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of revenue (exclusive of depreciation and amortization)<sup>(2)</sup> | 6471 | 19749 | 9394 | 20968 | 27855 | 24709 |
| &nbsp;&nbsp;&nbsp;&nbsp;Product development<sup>(2)</sup> | 17780 | 13551 | 6105 | 10730 | 13551 | 10730 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing<sup>(2)</sup> | 23560 | 22619 | 10824 | 15823 | 23043 | 15952 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative<sup>(2)</sup> | 13300 | 15098 | 7535 | 22206 | 17631 | 20499 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 4685 | 7714 | 3611 | 5200 | 8279 | 5387 |
| &nbsp;&nbsp;&nbsp;&nbsp;Impairment of goodwill |  | 27753 |  |  | 27753 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 65796 | 106484 | 37469 | 74927 | 118112 | 77277 |
| Operating loss | (44507) | (83268) | (26872) | (46452) | (84902) | (44817) |
| Other expense (income): |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | 3796 | 4738 | 1075 | 6003 | 2739 | 1202 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other expense (income), net | (45) | (687) | (194) | (473) | (646) | (471) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss (gain) from change in fair value of financial instruments |  | (1301) | (220) | 11436 | 10453 | 9505 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of debt |  |  |  | 7473 | 7473 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expense (income), net | 3751 | 2750 | 661 | 24439 | 20019 | 10236 |
| Net loss before income taxes | (48258) | (86018) | (27533) | (70891) | (104921) | (55053) |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax (expense) benefit | 106 | 796 | 412 | 293 | 3458 | 316 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income (loss) from equity method investments, net | (161) | (580) | (273) | (460) | (580) | (179) |
| Net loss | (48313) | (85802) | (27394) | (71058) | (102043) | (54916) |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: net loss attributable to noncontrolling interests |  | (113) |  | (1307) | (678) | (835) |
| Net loss attributable to common members/stockholders | $(48313) | $(85689) | $(27394) | $(69751) | $(101365) | $(54081) |
| Net loss per unit/share attributable to common members/stockholders, basic and diluted | $(3.37) | $(4.55) | $(1.64) | $(3.47) | $(1.74) | $(0.91) |
| Weighted average units/shares used in computing net loss per unit/share attributable to common members/stockholders | 22739574 | 23293429 | 22739574 | 24650701 | 58752690 | 59205114 |

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(1)This column gives effect to (a) the acquisition of Midwestern on June 11, 2025 (the Midwestern Acquisition) as if it had occurred on February 1, 2024; (b) the Corporate Reorganization as if it had occurred on February 1, 2024; and (c) the Notes Conversion as if it had occurred on February 1, 2024, exclusive of additional principal and accrued interest (cash coupon and payment-in-kind) that would have accrued from the date of the most recent balance sheet through November 20, 2025 of $35.4 million, which, if reflected, would have converted into an additional 4,044,619 shares of Class B common stock. See the section titled "Unaudited Pro Forma Consolidated Financial Information."

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(2)Equity-based compensation expense was allocated in cost of revenue and operating expenses as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** | **Six Months Ended July 31,** | **Six Months Ended July 31,** |
|  | **2024** | **2025** | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
| Cost of revenue (exclusive of depreciation and amortization) | $3 | $23 | $8 | $18 |
| Product development | 328 | 1056 | 198 | 1080 |
| Sales and marketing | 66 | 551 | 260 | 394 |
| General and administrative | 1471 | 2157 | 2381 | 1783 |
| Total equity-based compensation | $1868 | $3787 | $2847 | $3275 |

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| | | | |
|:---|:---|:---|:---|
|  | **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** |
|  | **Actual** | **Pro Forma**<sup>(1)</sup> | **Pro Forma, <br>As Adjusted**<sup>(2)(3)</sup> |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** |
| **Consolidated Balance Sheet Data:** |  |  |  |
| Cash and cash equivalents | $22589 | $22589 | $111987 |
| Working capital<sup>(4)</sup> | 4617 | 5605 | 93426 |
| Total assets | 185797 | 188252 | 275172 |
| Total liabilities | 204596 | 75438 | 74537 |
| Mezzanine equity | 363446 | 3383 | 3383 |
| Preferred stock |  |  |  |
| Common stock |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Class A common stock |  |  | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class B common stock |  | 59 | 59 |
| Common member units |  |  |  |
| Additional paid-in capital | 36134 | 535673 | 623485 |
| Equity attributable to noncontrolling interests | 19422 | 19422 | 19422 |
| Total members'/stockholders' equity (deficit) | (382245) | 109431 | 197252 |

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(1)This column gives effect to (a) the Corporate Reorganization as if it had occurred on July 31, 2025; and (b) the Notes Conversion as if it had occurred on July 31, 2025, exclusive of additional principal and accrued interest (cash coupon and payment-in-kind) that would have accrued from the date of the most recent balance sheet through November 20, 2025 of $35.4 million, which, if reflected, would have converted into an additional 4,044,619 shares of Class B common stock.

(2)This column gives effect to (a) the pro forma adjustments set forth in footnote (1) above; and (b) the issuance and sale by us of 9,100,000 shares of Class A common stock in this offering at the assumed initial public offering price of $11.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us.

(3)Each $1.00 increase or decrease in the assumed initial public offering price of $11.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus, would increase or decrease the amount of our pro forma as adjusted cash and cash equivalents, working capital, total assets, and total stockholders' equity by $8.5 million, assuming that the number of shares of Class A common stock offered, as set forth on the cover page of this prospectus, remains the same, after deducting estimated underwriting discounts and commissions payable by us. An increase or decrease of 1.0 million shares in the number of shares offered by us would increase or decrease, as applicable, the amount of our pro forma as adjusted cash and cash equivalents, working capital, total assets, and total stockholders' equity by $10.2 million, assuming the assumed initial public offering price remains the same, and after deducting estimated underwriting discounts and commissions payable by us.

(4)Working capital is defined as current assets less current liabilities.

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**Non-GAAP Financial Measure** 

In addition to our results and measures of performance determined in accordance with U.S. generally accepted accounting principles (U.S. GAAP), we also evaluate our operating performance using Adjusted EBITDA, a non-GAAP financial measure. We use this non-GAAP financial measure to evaluate our core operating performance, support planning and forecasting, and assess strategic opportunities. This non-GAAP financial measure is presented for supplemental informational purposes only, should not be considered a substitute for financial information presented in accordance with U.S. GAAP, and may be different from a similarly titled measure used by other companies. See the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Financial Measure" for more information regarding our use of Adjusted EBITDA and a reconciliation of Adjusted EBITDA to net loss attributable to common members, the most directly comparable financial measure calculated in accordance with U.S. GAAP.

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Years Ended January 31,** | **Years Ended January 31,** | **Six Months Ended July 31,** | **Six Months Ended July 31,** |
|  | **2024** | **2025** | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
| Net loss attributable to common members | $(48313) | $(85689) | $(27394) | $(69751) |
| Adjusted EBITDA | $(36287) | $(43375) | $(20395) | $(36249) |

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**RISK FACTORS**

*Investing in our Class A common stock involves a high degree of risk. Before making an investment decision, you should consider carefully the risks and uncertainties described below, together with all of the other information in this prospectus, including the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our consolidated financial statements and related notes thereto included elsewhere in this prospectus. Our business, results of operations, financial condition or prospects could also be harmed by risks and uncertainties not currently known to us or that we currently do not believe are material. If any of the following risks occur, our business, results of operations, financial condition and prospects could be adversely affected. In that event, the market price of our Class A common stock could decline, and you could lose part or all of your investment. Our risk factors are not guarantees that no such conditions exist as of the date of this prospectus and should not be interpreted as an affirmative statement that such risks or conditions have not materialized, in whole or in part.*

**Risks Related to Our Business and Industry**

***We have limited operating history and experience with scaling our platform, which makes it difficult to evaluate our business and prospects and forecast our future results.***

We have limited operating history and experience with scaling our platform, which makes it difficult to evaluate our business and prospects and forecast our future results. In fiscal 2023 we generated the majority of our revenue from the *He Gets Us* media campaign, and in fiscal 2024 we generated the majority of our revenue from sales of products and services through Outreach, which we acquired in January 2024. For the six months ended July 31, 2024, we generated the majority of our revenue from sales of products and services through Outreach, and for the six months ended July 31, 2025, one third of our revenue was generated from Outreach. Managing and expanding our operations is expensive and time-consuming, and our growth could be inhibited if we are unable to leverage our organization and resources effectively.

Our limited history and experience operating our current business may also negatively impact our ability to plan strategic acquisitions, investments and initiatives to further expand our business and platform offerings. In addition, existing and future operational and strategic initiatives may have long return-on-investment time-horizons. As a result, we will not be able to adequately assess the benefits of such acquisitions, investments and initiatives until we have already made substantial investments of time and capital, resulting in high opportunity costs. We are also devoting significant resources to bolstering our technology infrastructure, financial and accounting systems and controls, sales, marketing and engineering capabilities, and operations and support infrastructure, as well as to retain, manage and train employees in geographically dispersed locations to service new and existing customers. We may not successfully accomplish any of these objectives in a timely manner or at all.

We have encountered and will continue to encounter risks and uncertainties frequently experienced by growing companies with limited operating histories. If our assumptions regarding such risks and uncertainties, which we use to plan and operate our business, are incorrect or change, or if we do not address these risks successfully, our results of operations could differ materially from our and our investors' expectations and any longer-term benefits to our investors may not materialize within the timeframe we expect or at all, which could harm our business, results of operations, financial condition and prospects.

***Our recent growth may not be sustainable or indicative of future performance.*** 

Our recent growth has placed and is expected to continue to place significant demands on our management, financial, operational, technological and other resources. The continued growth and expansion of our business depends on a number of factors, including our ability to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•maintain and grow our platform offerings and user engagement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•manage increasingly complex business operations;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•acquire and invest in additional NCPs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•sell and renew subscriptions to our platform offerings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•increase the number of customers on our platform, including converting free users to customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•increase the number and volume of transactions on our marketplace;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•expand our sales and marketing organization to drive our sales pipeline;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•expand our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•increase awareness of our brands;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•continue to innovate and introduce new platform offerings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•maintain operational and financial systems that can support our expected growth;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•continue to increase operational and financial systems automation to reduce reliance on manual operations; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•maintain and improve our technology infrastructure.

The growth and expansion of our business will require significant additional resources, financial and otherwise, to meet our needs, which may not be available in a cost-effective manner or at all. Our investments may not result in the growth of our business. Even if our investments do result in the growth of our business, if we do not effectively manage our growth, we may not be able to successfully execute on our business plan, respond to competitive pressures, take advantage of market opportunities, maintain the quality of our platform or satisfy customer expectations, any of which could adversely affect our business, results of operations, financial condition and prospects. You should not rely on our historical rate of growth as an indication of our future performance or the rate of growth we may experience going forward or with respect to any new offerings we may introduce.

***We have a history of net losses and may not achieve profitability in the future.*** 

We have incurred net losses since our inception, and we may not be able to achieve or maintain profitability in the future. Our expenses will likely increase in the future as we expect to invest significant additional funds to develop and expand our platform, increase our sales and marketing efforts and operate as a public company, and we may not be able to increase our revenue enough to offset our increased operating expenses. Our efforts to grow our business may be more costly than we expect and may not result in increased revenue or growth in our business. We may make significant capital investments and incur recurring or new costs, and our investments may not generate sufficient returns. We may also be required to raise additional capital, which may not be available to us on favorable terms or at all. Any failure to increase our revenue sufficiently to keep pace with our investments and other expenses could prevent us from achieving or maintaining profitability or positive cash flow on a consistent basis or at all.

If we are unable to successfully address these risks and challenges as we encounter them, our business, results of operations, financial condition and prospects could be adversely affected. We may also incur significant losses in the future for a number of reasons, including the other risks described in this prospectus, and unforeseen expenses, difficulties, complications or delays, and other unknown events. We cannot assure you that we will ever achieve or sustain profitability and may continue to incur significant losses going forward. Any failure by us to achieve or sustain profitability on a consistent basis could have a material adverse effect on our business, financial condition and results of operations and cause the market price of our Class A common stock to decline.

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***There is no assurance that we will be able to continue as a going concern without achieving profitable operations or raising additional capital through potential equity or debt financing transactions, which we may not be able to obtain on favorable terms or at all.***

As of July 31, 2025, we held cash and cash equivalents of $22.6 million and had an accumulated deficit of $438.1 million. Additionally, since our inception, we have generated significant operating losses and we incurred net losses of $85.8 million and $71.1 million, and used $46.1 million and $44.2 million of cash in operating activities for the year ended January 31, 2025 and the six months ended July 31, 2025, respectively. Our management assessed our current financial condition, characterized by recurring operating losses, negative cash flows, limited liquid resources and dependence on external financing, as well as the funds required to execute our business plan over the evaluation period. Based on these factors, our management has concluded there is substantial doubt about our ability to continue as a going concern for at least 12 months from the date the financial statements are available to be issued. Because it is not possible at this time to predict the outcome of future equity placements or additional borrowings, substantial doubt remains regarding our ability to continue as a going concern during the following year.

Our ability to continue as a going concern will be dependent on ultimately achieving profitable operations or raising additional capital through potential equity or debt financing transactions or both. Additionally, our plans include, but are not limited to, generating revenue through subscriptions of our expanding technology and AI offerings, increased marketplace offerings and growing advertising services, as well as seeking external sources of liquidity. If adequate funds are not available, we may be required to delay or modify our business plans, potentially including the timing of planned capital expenditures, development and other activities, all of which, individually or in the aggregate, could have material negative consequences to us and our results of operations and business relationships. Additionally, the sale of additional equity may dilute existing stockholders and newly issued shares may contain senior rights and preferences compared to currently outstanding shares of our common stock. Issued debt securities may contain covenants and limit our ability to pay dividends or make other distributions to stockholders.

***If we fail to acquire new customers or the faith and flourishing ecosystem does not develop as we anticipate, our sales will not grow as quickly as expected, or at all, and our business, financial condition and results of operations will be harmed.*** 

We believe the market for our platform is substantial. However, it is uncertain to what extent or how widespread market acceptance of our platform will be or how long such acceptance, if achieved, may be sustained. Many NCPs and CFLs have not traditionally used integrated and comprehensive platforms like ours for their specific needs. We cannot be certain that the market for our offerings will continue to develop and grow or that NCPs and CFLs will elect to use our platform over alternatives. Potential customers that have already invested substantial resources in alternatives to our platform might be reluctant to switch to our platform. If the demand for and market acceptance of our platform offerings do not increase, we might not be able to effectively grow our business.

If our existing customers and potential customers do not perceive our offerings to be beneficial, or choose not to adopt them as a result of concerns regarding privacy, cybersecurity, accessibility or other reasons, or as a result of negative incidents or experiences they encounter through our platform, or instead opt to use alternatives to our platform, then the market for the platform may not continue to grow, may grow slower than we expect or may not achieve the growth potential we expect, any of which could materially adversely affect our business, financial condition, results of operations and prospects.

***If we fail to retain our customers, or our customers do not renew or extend their subscriptions or other contracts, or renew or extend on less favorable terms, our revenue may decline or grow less quickly than anticipated, which would harm our business, financial condition and results of operations.*** 

In order to continue to grow our business, it is important that our customers renew or extend their subscriptions or other contracts with us and that we expand our relationships with our existing customers. Most of our customers have no obligation to renew their subscriptions or extend their contracts with us, and they may decide not to do so at the same prices and on the same terms or at all. Additionally, some of our customers may terminate their

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relationship with us for convenience. It is difficult to accurately predict whether we will have future success in retaining customers or expanding our relationships with them. We have experienced growth in the number of customers, but we do not know whether we will continue to achieve similar growth or achieve any growth at all. Our ability to retain customers and expand our offerings with them may decline or fluctuate as a result of a number of factors, including customers' satisfaction with our offerings, the quality and timeliness of our customer support services, our prices, the prices and features of competing solutions, reductions in customers' spending levels and our release of future offerings. If customers do not renew their existing subscriptions or extend their contracts with us, renew or extend on less favorable terms, or fail to expand their engagement with us, our revenue may decline or grow less quickly than anticipated, which would harm our business, financial condition and results of operations.

***A decrease in charitable donations or other external funding of our customers and potential customers may result in reduced demand for our platform offerings, which could adversely affect our business, results of operations, financial condition and prospects.*** 

Our current and potential customers include churches, ministries, foundations, nonprofit organizations and other members of the faith and flourishing ecosystem that fully or partially rely on charitable donations, grants, government aid and philanthropic contributions to fund their operations, including to pay for offerings like ours. Consequently, a significant portion of our revenue indirectly depends on the availability of such external funding. We have limited ability to influence the fundraising efforts and external funding decisions that impact our customers and potential customers, and any reduction in their ability to secure necessary funding for their operations exposes us to fluctuations in demand for our platform offerings, which could adversely affect our business, financial condition and results of operations. For example, the frequency and amounts of charitable donations may decrease from time to time as a result of deteriorating general economic conditions, changes to applicable tax laws, a sustained or significant decline in religious affiliation or participation in the faith and flourishing ecosystem, shifts in philanthropic priorities and other factors that limit available financial resources.

***Failure to effectively develop and expand our sales and marketing capabilities, including reliance on product-led sales efforts, could harm our ability to increase our customer base and achieve broader market acceptance and utilization of our platform.***

Our ability to increase our customer base and achieve broader market acceptance of our platform will depend significantly on our ability to expand our sales and marketing organizations and deploy our resources efficiently. An important component of our growth strategy is to increase the cross-selling of our platform and services to current and future customers. However, if we are not successful in doing so, or our existing and potential customers find our additional solutions and services unnecessary or unattractive, we may not be able to increase our customer base.

In addition to expanding our direct sales force, we rely on product-led sales efforts to drive growth, where our platform is designed to attract users through self-service and organic adoption. While this strategy can reduce reliance on traditional sales methods, it poses unique challenges. Product-led efforts may have limited success if our platform does not gain sufficient visibility or resonate with prospective users, or fails to create compelling pathways for conversion into paying customers. Furthermore, product-led growth requires significant investment in continuous innovation and optimization of our platform to maintain its attractiveness and utility, which may not always yield the desired results.

We have invested, and plan to continue to invest, significant resources in expanding our sales initiatives as well as our sales force focused on identifying new strategic partners. However, we may not achieve anticipated revenue growth from expanding our sales force if we are unable to hire, develop, integrate and retain talented and effective sales personnel, or if our new and existing sales personnel are unable to achieve desired productivity levels in a reasonable period of time.

We also dedicate significant resources to sales and marketing programs. The effectiveness and cost of our online advertising has varied over time and may vary in the future due to competition for key search terms, changes in search engine use and changes in the search algorithms and rules used by major search engines. These efforts will require us to invest significant financial and other resources. Our business, financial condition and results of operations will be harmed if our sales and marketing efforts, including our reliance on product-led sales strategies, do not generate significant increases in revenue.

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***We are subject to certain risks as a mission-driven company.*** 

Our mission and company values are a significant part of our business strategy and who we are as a company. We believe that customers and users value our commitment to our mission. However, because we hold ourselves to such high standards, and because we believe our customers and users have high expectations of us, we may be more severely affected by negative reports or publicity if we fail, or are perceived to have failed, to live up to our mission. As a result, our brand and reputation may be negatively affected by actions we take that are viewed as contrary to that mission. In certain situations, the damage to our reputation may be greater than to other companies that do not share similar values with us, and it may take us longer to recover from such an incident and gain back the trust of our existing and potential customers. We may make decisions regarding our business and platform offerings in accordance with our mission and values that may reduce our short- or medium-term results of operations if we believe those decisions are consistent with our mission and will improve the aggregate customer and user experience. Although we expect that our commitment to our mission will, accordingly, improve our financial performance over the long term, these decisions may not be consistent with the expectations of investors and any longer-term benefits may not materialize within the time frame we expect or at all, which could harm our business, results of operations, financial condition and prospects.

***We depend on Mr. Beck and our senior management team to operate our business, and the loss of one or more of them could adversely affect our business.***

We depend on the continued services and performance of our co-founder, president and chief executive officer, Mr. Beck, as well as other members of our senior management team. Mr. Beck has been responsible for setting our strategic vision since our inception, and should he or other members of our senior management team discontinue serving us due to death, disability or any other reason, we may be significantly disadvantaged as it could disrupt our operations, create uncertainty among investors, adversely impact employee retention and morale, and otherwise harm our business. Their departure or the departure of other key contributors to our technology and other development efforts could adversely affect the continued growth of our business and negatively impact our financial condition and results of operations. We may have difficulty finding, or be unable to find, qualified successors to any such persons should they depart.

***The failure to attract and retain additional qualified personnel could harm our business and prevent us from executing our business strategy.*** 

We believe our success has depended, and continues to depend, on the efforts and talents of our executives and employees. Our future success depends on our continuing ability to retain, develop, motivate and attract highly qualified and skilled employees. Qualified individuals are in high demand, and we may incur significant costs to retain and attract them. If any new hires that we make fail to work together effectively and execute our plans and strategies on a timely basis, then our business and future growth prospects could be harmed. In addition, we issue equity awards to certain of our employees as part of our hiring and retention efforts, and job candidates and existing employees often consider the value of the equity awards they receive in connection with their employment. If the perceived value of our equity awards declines, including as a result of volatility or declines in the market price of our Class A common stock or changes in perception about our future prospects (including as valuations of companies comparable to us decline due to overall market trends, inflation and related market effects or otherwise), it may adversely affect our ability to recruit and retain highly qualified employees. In addition, we may periodically change our equity compensation practices, which may include reducing the number of employees eligible for equity awards, reducing the size or value of equity awards granted per employee or undertaking other efforts that may prove to be an unsuccessful retention mechanism. If we are unable to attract, integrate or retain the qualified and highly skilled personnel required to fulfill our current or future needs, our business and prospects could be harmed.

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***If we do not continue to innovate and further develop our platform offerings, if our platform developments do not perform as anticipated or if we are not able to keep pace with technological developments, we may not remain competitive, and our business, results of operations, financial condition and prospects could be adversely affected.*** 

We have made substantial investments in our technologies to capitalize on new and unproven business opportunities. Our future performance is dependent on continued investments in technology and our ability to innovate, enhance and introduce compelling new platform offerings for our customers and potential customers. We intend to make continued investments in these areas through hiring of highly qualified employees and ongoing technology transformation. We plan to further invest in AI-powered capabilities and leverage our unique dataset to further improve our platform offerings. If competitors introduce new offerings embodying new technologies, or if new industry standards and practices emerge, our existing technology may become obsolete. Our future success could depend on our ability to respond to technological advances and emerging industry standards and practices in a cost-effective and timely manner. These initiatives also have a high degree of risk, as they involve unproven business strategies and technologies with which we have limited development or operating experience. The success of enhancements to existing offerings and introductions of new offerings depends on several factors, including timely completion, market introduction and market acceptance. Further, our development efforts with respect to new technologies could distract management from current operations and divert capital and other resources from other initiatives, and may not result in long-term revenue growth.

***If we fail to develop, maintain and enhance our brand and reputation cost-effectively, our business, financial condition and results of operations could be adversely affected.***

We believe that the brand identity, reputation and awareness of Gloo and Gloo Capital Partners is critical to our sales and marketing efforts and continued business growth. In the faith and flourishing ecosystem, our reputation and the quality of our brand are uniquely important to our business, and the faith and flourishing ecosystem is particularly susceptible to scrutiny and criticism. We also believe that maintaining and enhancing these brands are critical to maintaining and expanding our customer base. Any unfavorable publicity about our company or our management, including about the quality, stability and reliability of our platform, changes to our platform, our privacy and cybersecurity practices, litigation, employee relations, regulatory enforcement and other actions involving us, as well as the perception of us and our platform by our customers and users, even if inaccurate, could cause a loss of confidence in us and adversely affect our brand.

Additionally, widespread use of social media platforms and other forms of internet-based communication provide individuals with access to a broad audience of consumers and other interested persons. Many social media platforms immediately publish the content their users post, often without filters or checks on the accuracy of the content. Adverse or inaccurate information concerning us may be posted on such platforms at any time, and such posts can be amplified quickly, potentially harming our reputation, performance, prospects or business.

We also rely on the reputation of third parties affiliated with us, such as partners across the faith and flourishing ecosystem, to reflect positively on our business. Unfavorable media coverage or public controversy involving these affiliated third parties, even if we are not directly involved, may be perceived by our users and customers as reflecting poorly on us or our values. Although our acceptable use policy incorporated into our terms of service provides for express limitations on how our customers can use our platform and we reserve our right to remove content that violates our acceptable use policy, it may not always be possible to remove such content prior to it receiving unfavorable attention or publicity. Any such harm to our brand and reputation could diminish trust among our customers and users, negatively impact demand for our platform and adversely affect our business. Negative publicity involving us or affiliated third parties could also have an adverse effect on the size and engagement of our customer base and could result in decreased revenue, which could have an adverse effect on our business, financial condition and results of operations.

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***The markets in which we participate are competitive, and if we do not compete effectively, our business, financial condition and results of operations could be harmed.***

Our platform operates across a broad and highly fragmented market. We believe our competition primarily falls into five categories:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Faith-tech and general market point solutions, including providers of church management systems, communications tools and engagement platforms such as Subsplash, Ministry Brands, Planning Center and Mailchimp that compete with the Gloo Workspace communications and insights products;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Proprietary and custom systems, including larger ministries that build internal technology stacks that compete with our Gloo360 solutions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Traditional advertising networks, including large media and marketing platforms that offer reach and audience access such as Meta and Google that compete with the Gloo Media Network;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Technology development solutions, including providers that compete with the platform solutions offered by our Gloo Capital Partners, Midwestern and Servant.io; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Specialized and general e-commerce marketplaces, including providers of physical and digital products sold to CFLs for their operations, such as Amazon and Concordia Supply that compete with Outreach and our other e-commerce marketplaces.

Our competitors may have greater resources, broader brand recognition, deeper relationships with customers or more experience with certain technologies. If we fail to differentiate our offerings, maintain or grow our relationship with key ministry leaders and churches, or effectively adapt to evolving technology and customer preferences, we may fail to achieve widespread adoption of our platform and our business, financial condition and results of operations could be harmed.

***We have been and may in the future become subject to claims, lawsuits, investigations, litigation and other proceedings that may harm our business, financial condition and results of operations.***

We have from time to time been subject to claims, disputes, regulatory investigations or legal proceedings. We may in the future be subject to claims, disputes, regulatory investigations, class action, whistleblower and other litigation, and other proceedings, including those relating to intellectual property, privacy, commercial, recordings, AI-technologies, product liability, employment or the use of cookies, pixels or other tracking technology. The number and significance of any claim, dispute, investigation, litigation or other proceeding may increase as our business expands. Any such actual or threatened matter, even if unfounded, can be time-consuming, divert management's attention and resources, cause us to incur significant expenses or liability or require us to change our business practices. In addition, the amount and timing of expenses that we may need to incur in response to any of the foregoing matters from period to period are difficult to estimate, subject to change and may harm our financial condition and results of operations. Because of the potential risks, expenses and uncertainties of any claim, dispute, regulatory investigation, litigation or other proceeding, we may choose to settle these matters even where we have meritorious claims or defenses. Any of the foregoing matters may harm our business, financial condition and results of operations.

***We may require additional capital to support the growth of our business, and this capital might not be available on favorable terms or at all.***

Operating and growing our business have consumed substantial amounts of cash since inception and we intend to continue to make significant investments to support our business growth, acquire or invest in complementary businesses and technologies, respond to business challenges or opportunities, develop new offerings and enhance our existing platform and technology infrastructure. Our future capital requirements may be significantly different from our current estimates and will depend on many factors, including the need to finance unanticipated working capital requirements, develop or enhance our technological infrastructure and our existing offerings and manage

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costs associated with adverse market conditions or other macroeconomic factors. We may be presented with opportunities that we want to pursue, and unforeseen challenges may present themselves, any of which could cause us to require additional capital. If, in the future, we aim to rely on funds raised through equity or debt financing, those funds may prove to be unavailable, may only be available on terms that are not acceptable to us or may result in significant dilution to our stockholders or higher levels of leverage, which will expose our business to additional risks. Any debt financing secured by us in the future could involve additional restrictive covenants relating to our capital-raising activities and other financial and operational matters, which may make it more difficult for us to obtain additional capital and to pursue business opportunities, including potential acquisitions. If we are unable to obtain adequate financing or financing on terms satisfactory to us, it could have a material adverse effect on our business, financial condition and results of operations.

***We are subject to payment-related risks and may incur significant losses from fraud.***

We accept payments using a variety of methods, including credit card, debit card, and other third-party payment vendors, which subjects us to certain regulations and the risk of fraud, and we may in the future offer new payment options to customers that would be subject to additional regulations and risks. We pay interchange and other fees in connection with credit card payments, which may increase over time and adversely affect our operating results. While we use a third party to process payments, we are subject to payment card association operating rules and certification requirements, including the Payment Card Industry Data Security Standard and rules governing electronic funds transfers. If we fail to comply with applicable rules and regulations, we may be subject to fines or higher transaction fees and may lose our ability to accept online payments or other payment card transactions. In addition, we may become liable for fraudulent transactions and our failure to adequately prevent fraudulent transactions could damage our reputation, result in litigation or regulatory action and lead to expenses that could substantially impact our operating results. If any of these events were to occur, our business, financial condition and results of operations could be adversely affected.

***Dependence on third-party banking relationships and regulatory compliance risks that relate to our efforts to enhance philanthropic outreach could adversely affect our business.***

We intend to offer Gloo Impact, which is a product in beta that we are designing to enhance philanthropic outreach and charitable contributions by visualizing real time impact through AI generated data dashboards, escrow-like fund management and capital deployment based on verified milestones of ministry outcome. The Gloo Impact product will depend on integrations with third-party banking and financial institutions to facilitate milestone-based payments. Any disruption, termination or adverse change in these banking relationships could materially impact our ability to facilitate payments. The platform's functionality and reliability will be directly tied to the services provided by these banking partners, and interruptions or failures in their systems could delay or prevent payments, eroding user trust and damaging our reputation. Additionally, changes in financial regulations or increased scrutiny on payment and grant-making activities could impose significant compliance costs or operational burdens. The platform will also be exposed to risks of fraud, cybersecurity breaches and unauthorized transactions, which could result in financial losses and harm our reputation. Furthermore, a lack of diversification among banking providers heightens the impact of disruptions or adverse terms imposed by any single partner.

***Engagement by users on our platform and our ability to monetize our platform depend upon effective operation within and compatibility with operating systems, networks, devices, web browsers and standards, including mobile operating systems, networks and standards that we do not control.***

We make our platform available across a variety of operating systems and through websites. We are dependent on the compatibility of our platform with popular devices, desktop and mobile operating systems, and web browsers that we do not control, such as Android and iOS. Any changes in such systems, devices or web browsers that degrade the functionality of our platform or give preferential treatment to competitive content could adversely affect usage of our platform.

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***We rely primarily on third-party insurance policies to insure our operations-related risks. If our insurance coverage is insufficient for the needs of our business or our insurance providers are unable to meet their obligations, we may not be able to mitigate the risks facing our business, which could adversely affect our business, financial condition, results of operations and prospects.***

We procure third-party insurance policies to cover various operations-related risks, including employment practices liability, workers' compensation, business interruptions, errors and omissions, cybersecurity and data breaches, crime, directors' and officers' liability, and general business liabilities. For certain types of operations-related risks or future risks related to our new and evolving offerings, we are not able to, or may not be able to, acquire insurance. In addition, we may not obtain enough insurance to adequately mitigate such operations-related risks or risks related to our new and evolving offerings, and we may have to pay high premiums, co-insurance, self-insured retentions or deductibles for the coverage we do obtain. We rely on a limited number of insurance providers, and should such providers discontinue or increase the cost of coverage, we cannot guarantee that we would be able to secure replacement coverage on reasonable terms or at all. If our insurance carriers change the terms of our policies in a manner not favorable to us, our insurance costs could increase. Further, if the insurance coverage we maintain is not adequate to cover losses that occur, or if we are required to purchase additional insurance for other aspects of our business, we could be liable for significant additional costs. Additionally, if any of our insurance providers becomes insolvent, it would be unable to pay any operations-related claims that we make.

If the amount of one or more operations-related claims were to exceed our applicable aggregate coverage limits, we would bear the excess, in addition to amounts already incurred in connection with deductibles, self- insured retentions, co-insurance, or otherwise paid by our insurance policy. Insurance providers have raised premiums and deductibles for many businesses and may do so in the future. As a result, our insurance costs and claims expense could increase, or we may decide to raise our deductibles or self-insured retentions when our policies are renewed or replaced. The foregoing factors could adversely affect our business, financial condition, results of operations and prospects.

We are also subject to certain contractual requirements to obtain insurance. For example, some of our agreements with partners require that we procure certain types of insurance, and if we are unable to obtain and maintain such insurance, we may be in violation of the terms of these agreements. In addition, we are subject to local laws, rules, and regulations relating to insurance coverage which could result in proceedings or actions against us by governmental entities or others. Any failure or perceived failure by us to comply with existing or future local laws, rules and regulations, or contractual obligations relating to insurance coverage could result in proceedings or actions against us by governmental entities or others. Additionally, anticipated or future local laws, rules, and regulations relating to insurance coverage, could require additional fees and costs. Compliance with these rules and any related lawsuits, proceedings, or actions may subject us to significant penalties and negative publicity, require us to increase our insurance coverage, require us to amend our insurance policy disclosure, increase our costs, and disrupt our business.

***We are subject to risks related to the banking ecosystem, including through our bank partnership, FDIC regulations and policies, and other regulatory obligations, which could adversely affect our liquidity and financial performance.***

Volatility in the banking and financial services sectors, including bank failures, may impact our bank partnership and negatively impact our business. For example, we maintain domestic cash deposits in Federal Deposit Insurance Corporation (FDIC) insured banks that exceed the FDIC insurance limits and we intend to offer access to FDIC-insured deposit products through our partnership with our bank partner, which is a member of the FDIC. Bank failures, events involving limited liquidity, defaults, non-performance or other adverse developments that affect financial institutions, or concerns or rumors about such events, may lead to liquidity constraints. The failure of a bank, or other adverse conditions in the financial or credit markets impacting financial institutions at which we maintain balances, could adversely impact our liquidity and financial performance. There can be no assurance that our deposits in excess of the FDIC or other comparable insurance limits will be backstopped by the U.S. or applicable foreign government, or that any bank or financial institution with which we do business will be able to obtain needed liquidity from other banks, government institutions or by acquisition in the event of a failure or liquidity crisis.

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Additionally, through contractual obligations to our bank partner in connection with these programs, we are subject to risk management standards for third-party relationships in accordance with federal bank regulatory guidance and examinations by our bank partner's federal banking regulator. Should we or our bank partner be unable to satisfy these standards, we may have to discontinue certain products or third-party relationships, and our business, financial condition and results of operations may be adversely affected.

**Risks Related to Our Acquisitions and Investments**

***Revenues and profits generated through our acquisitions and investments may be less than anticipated, and we may fail to uncover all acquired liabilities that could result in unanticipated costs, losses, declines in profits and potential impairment charges, and for which we may not be indemnified in full.*** 

In fiscal 2023 and fiscal 2024, we acquired or invested in, among others, Midwestern, Outreach and Visitor Reach. For additional details about those acquisitions and investments, see Notes 4 and 5 to our audited consolidated financial statements included elsewhere in this prospectus. During the six months ended July 31, 2025, we acquired or invested in Barna, Carey Nieuwhof Communications, Servant and Masterworks, and obtained control of Midwestern, thereby consolidating Midwestern. For additional details, see Notes 4 and 5 to our unaudited consolidated financial statements as of and for the six months ended July 31, 2025 included elsewhere in this prospectus. We expect to continue to pursue strategic acquisitions and investments intended to enhance and grow our platform and business. In evaluating and determining the purchase price for a prospective acquisition or investment, we estimate future revenues and profits based largely on historical financial performance and expected future contribution value to our platform. Following a transaction, the business we acquired or invested in may not perform as we expected and the anticipated benefits of the transaction, including our revenue or return on investment assumptions, may not be fully realized or at all. For example, for fiscal 2024, primarily because of delays in executing on strategic initiatives related to our Outreach acquisition consummated during fiscal 2023, we recorded a $27.8 million impairment charge to goodwill. For additional details about the impairment charge recorded to goodwill, see Note 11 to our audited consolidated financial statements included elsewhere in this prospectus.

We perform a due diligence review of each of our acquisition and investment targets. This due diligence review, however, may not adequately uncover all of the contingent or undisclosed liabilities we may incur as a consequence of the proposed acquisition, exposing us to potentially significant, unanticipated costs, as well as potential impairment charges. Although a seller generally will have indemnification obligations to us under an acquisition or merger agreement, these obligations usually will be subject to financial limitations, such as general deductibles and maximum recovery amounts, as well as time limitations and risks related to collection. We cannot assure you that our right to indemnification from any seller will be enforceable, collectible or sufficient in amount, scope or duration to fully offset the amount of any undiscovered or underestimated liabilities that we may incur. Any such liabilities, individually or in the aggregate, could have a material adverse effect on our business, financial condition and results of operations. In addition, our insurance does not cover all of our potential losses, and we are subject to various self-insured retentions and deductibles under our insurance. Although we believe we have sufficient reserves for contingencies, a judgment may be rendered against us in cases in which we could be uninsured or which exceed the amounts that we currently have reserved or anticipate incurring for such matters.

***If we are unable to identify attractive acquisition or investment targets, acquire or invest in them at attractive prices or successfully integrate their operations or otherwise realize their anticipated benefits, we may be unsuccessful in growing our business.***

A significant portion of our growth has been driven by our acquisitions of and investments in complementary businesses and technologies that grow our platform offerings, expand our reach and strengthen valuable relationships. However, there can be no assurance that we will find attractive acquisition or investment targets in the future, that we will acquire or invest in them at attractive prices, that we will succeed at effectively managing integration into our existing operations or that such acquisitions or investments will be well received by our current and potential customers or our investors. We could also encounter higher-than-expected earn-out payments, unforeseen transaction- and integration-related costs or delays or other circumstances such as disputes with or the loss of key or other personnel from acquired businesses, challenges or delays in integrating systems or technology of acquired businesses, a deterioration in our key relationships, harm to our reputation with customers, interruptions in our business activities or unforeseen or higher-than-expected inherited liabilities. Many of these potential circumstances are outside of our control and any of them could result in increased costs, decreased revenue, decreased synergies or the diversion of management time and attention.

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In order for us to continue to grow our business through acquisitions and investments we will need to identify appropriate opportunities and acquire them at attractive prices. We may choose to pay cash, incur debt or issue equity securities to pay for any such acquisition. The incurrence of indebtedness would result in increased fixed obligations and could also include covenants or other restrictions that would impede our ability to manage our operations. The sale of equity to finance any such acquisition, or the issuance of equity to pay purchase consideration, would result in dilution to our stockholders.

***Sellers in our acquisition of Visitor Reach and investment in Midwestern have repurchase rights during specified periods, and any exercise of such rights could adversely affect our business, financial condition and results of operations. The existence of the repurchase rights may increase the likelihood of impairment charge, complicate the overall integration process and decrease the benefits potentially realizable from investment synergies.***

In connection with our acquisition of Visitor Reach and investment in Midwestern, we granted the counterparties contractual rights to repurchase a portion of the business interests that we acquired, subject to certain conditions and over specified periods. If any such repurchase rights are exercised, we may be required to unwind part or all of a completed acquisition or divest all or a portion of a completed investment, on terms that may not be favorable to us, which could result in the loss of strategic or core assets or future revenue streams. The exercise of these repurchase rights may also require us to deconsolidate such entities from our consolidated financial statements, which would adversely affect our financial condition, results of operations and prospects. For example, if all repurchase rights outstanding as of January 31, 2025 were exercisable as of such date and were exercised on such date, we would be required to deconsolidate $0.2 million, or 0.8%, of our fiscal 2024 revenue and $0.1 million, or an immaterial percent, of our fiscal 2024 net loss. If all repurchase rights outstanding as of July 31, 2025 were exercisable as of such date and were exercised on such date, we would be required to deconsolidate $3.6 million, or 12.7%, of our revenue and $0.9 million, or 1.2%, of our net loss for the six months ended July 31, 2025.

The exercise of repurchase rights may also lead to other financial and operational disruption and require us to restructure our operations or write down previously recognized goodwill or intangible assets. Moreover, the existence of repurchase rights may affect our ability to integrate acquired businesses and reduce the certainty of long-term ownership, which could adversely affect our ability to realize the benefits of these acquisitions and investments. Such repurchase rights increase the consideration paid for acquisitions, which then may also increase the likelihood that we take impairment charges subsequent to the closing of acquisitions or investments, for example, as occurred subsequent to our acquisition of Outreach.

***Sellers in certain of our prior investments have the right to require Mr. Beck and certain of his affiliates to purchase the Gloo shares received in such transaction at a given price during specified periods. If such rights are exercised and Mr. Beck chooses to sell a substantial number of the shares of Class A common stock owned by him or his affiliates to obtain funding for such purchases, the market price of our Class A common stock could decline.***

In connection with certain of our prior investments, Mr. Beck has granted sellers the right to require him and certain of his affiliates, who collectively own a significant number of our outstanding shares of common stock, to purchase the Gloo shares received in the transaction at a given price during specified periods. If any such rights are exercised, Mr. Beck and his affiliates may choose to liquidate a substantial number of our shares of Class A common stock to finance the purchase price. Any substantial sale of shares by Mr. Beck or his affiliates could cause the market price of our Class A common stock to decline.

***We may be required to acquire full ownership of Barna Holdings LLC under unfavorable terms upon the termination of an executive officer of such third-party company, which could materially adversely affect our financial condition and operating results.***

In February 2025, we acquired a 49% equity interest in Barna Holdings LLC. Under the organizational documents of Barna Holdings LLC and an employment agreement with one of its executives, if such executive is terminated under certain conditions and circumstances, we may be obligated to acquire the remaining ownership interest in Barna Holdings LLC at fair market value as determined by an independent qualified appraiser. Such acquisition may occur at a time or on terms that we do not believe to be favorable to us and may require us to make a significant unplanned capital expenditure. Such acquisition could materially affect our liquidity, require us to raise additional capital and divert management attention, each of which could materially adversely affect our financial condition and results of operations.

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***Acquisitions and investments could divert the attention of management, disrupt our business and otherwise adversely affect our business, financial condition and results of operations.*** 

As part of our business strategy, we have made and intend to continue to make acquisitions and investments to expand our platform offerings and grow our business in response to changing technologies and competitive pressures. Any acquisition or investment, including the integration process, requires significant time and resources that may divert the attention of our management from day-to-day operations, strain our internal resources and disrupt our business, and we may not be able to manage the process successfully. Even when acquisitions and investments are completed successfully, we may face challenges integrating the acquired business, including aligning cultures, systems, personnel, customer relationships and operational processes. If we fail to successfully integrate acquisitions or investments, our business, results of operations, financial condition and prospects could be harmed. Our strategy may change over time and future acquisitions and investments we complete could be viewed negatively by customers, users, advertisers, investors or other parties with whom we do business. We may not successfully evaluate or utilize the acquired technology and accurately forecast the financial impact of an acquisition, including accounting charges. We may also incur unanticipated liabilities that we assume as a result of acquiring companies.

***If we cannot maintain our company culture as we grow through acquisitions and investments, our business, financial condition, results of operations and prospects may be harmed.*** 

We believe our culture is a critical component of our success to date. Any failure to preserve our culture as we grow through acquisitions and investments could negatively affect our ability to retain and recruit personnel, which is critical to our growth, and to effectively focus on and pursue our corporate objectives. As we grow and develop, we may find it difficult to maintain core values and mission alignment. If we are unable to successfully preserve our culture during periods of growth, we may experience reduced morale, lower retention rates of key personnel and decreased engagement. If we are not able to maintain our culture, we could lose the innovation, passion and dedication of our team. A failure to maintain our culture may adversely affect our business, financial condition, results of operations and prospects.

**Risks Related to Our Technology and Intellectual Property**

***Interruptions or performance problems associated with our platform and the technology we use might harm our business, financial condition and results of operations.*** 

Our reputation and ability to attract, retain and serve our customers is dependent upon the reliable performance and security of our technology systems and those of third parties, including data center hosting facilities, that we use in our operations. These systems may be subject to damage or interruption, including from earthquakes, adverse weather conditions, other natural disasters, terrorist attacks, power loss, telecommunications failures and cybersecurity breaches. We believe the risk of us suffering physical- and cyber-attacks is uniquely heightened due to our close affiliation with the faith and flourishing ecosystem. Interruptions in these systems, or with the internet in general, could leave our service unavailable or degraded, or otherwise hinder our ability to deliver our platform offerings to our customers. Service interruptions, errors in our software or the unavailability of technology systems used in our operations could diminish the overall attractiveness of our platform offerings to existing and potential customers. Such systems are also vulnerable to cybersecurity breaches, including cyber-attacks such as computer viruses, denial-of-service attacks, physical or electronic break-ins and similar disruptions. These systems periodically experience directed attacks intended to lead to interruptions and delays in our service and operations as well as loss, misuse or theft of data. Any attempt by hackers to obtain our data (including customer and corporate information) or technology (including digital content assets), disrupt our service or otherwise access our systems, or those of third parties we use, if successful, could harm our business, be expensive to remedy and damage our reputation. We have implemented certain systems and processes to thwart hackers and protect our data and systems. To date, hackers have not had a material impact on our service or systems; however, there can be no assurance that hackers may not be successful in the future. Efforts to prevent hackers from disrupting our service or otherwise accessing our systems are expensive to implement and may limit the functionality of or otherwise negatively impact our service offering and systems. Any significant disruption to our service or access to our systems could result in a loss of customers and adversely affect our business and results of operation.

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We depend on the ability of users and customers to access the internet. Currently, this access is provided by companies that have significant market power in the broadband and internet access marketplace, including incumbent telephone companies, cable companies, mobile communications companies, government-owned service providers, device manufacturers and operating system providers, any of whom could take actions that degrade, disrupt or increase the cost of access to our platform offerings, which would, in turn, negatively impact our business. The adoption of any laws, rules or regulations that adversely affect the use of the internet, including laws, rules, regulations or practices limiting internet neutrality, could decrease the demand for, or the usage of, our platform offerings, increase our cost of doing business and adversely affect our business, financial condition and results of operations. We also rely on other companies to maintain reliable network systems that provide adequate speed, data capacity and security to us and our users. Because our customers use these services for important aspects of their organizations and ministries, any defects, delays or disruptions in service or other performance problems with our platform could hurt our reputation and damage our customers' operations. Frequent or persistent service interruptions could cause customers to believe that our platform offerings are unreliable and undermine our operations. To the extent that we do not effectively address capacity constraints, upgrade our systems as needed or continually develop our technology and network architecture to accommodate actual and anticipated changes in technology, our business, results of operations, financial condition and prospects could be harmed.

***We depend on the interoperability of our platform across third-party applications and services that we do not control.*** 

Our platform is designed to integrate with, and operate alongside, a wide range of third-party applications and services, some of which are critical to the operation of our platform. These include, for example, Amazon Web Services, Bandwidth and Stripe. As our platform expands and evolves, we may have an increasing number of integrations with other third-party applications, products and services. Third-party applications, products and services are constantly evolving, and we may not be able to maintain or modify our platform to ensure its compatibility with our publishers following development changes. In addition, some of our competitors or technology partners may take actions that disrupt the interoperability of our platform with their own products or services, or exert strong business influence on our ability to, and the terms on which we operate. As our platform evolves, we expect the types and levels of competition to increase. Should any of our competitors or technology partners modify their solutions, standards or terms of use in a manner that degrades the functionality or performance of our platform or is otherwise unsatisfactory to us or gives preferential treatment to competitive solutions or services, our business, financial condition, results of operations and prospects could be adversely affected.

***We are developing new AI platform offerings and incorporating AI-technology into certain of our platform offerings, which may result in operational, financial and reputational harm and other adverse consequences to our business.*** 

We are focused on developing AI-powered offerings on our platform and incorporating AI into existing offerings. The technologies underpinning these features are in the early stages of commercial use and exist in an emerging regulatory environment, which presents regulatory, litigation, ethical, reputational, operational and financial risks. U.S. and international governmental bodies and regulators have proposed, or are in the process of developing, new laws and regulations related to the use of AI and machine learning technologies. For example, the EU Artificial Intelligence Act and the Colorado Artificial Intelligence Act regulate the development and deployment of AI technologies. The way in which regulators and governments ultimately interpret or enforce new and proposed AI regulations may impose obligations related to our development, offering and use of AI technologies and expose us to increased risk of regulatory enforcement and litigation. It may also impact our customers' and potential customers' demand for our AI-powered offerings.

We also expect that many of our generative AI features will include the processing of confidential information and may be subject to laws, policies, legal obligations and codes of conduct related to privacy. There is uncertainty about the extent to which privacy laws apply to AI technologies, and any delay in addressing privacy concerns relating to our AI features may result in liability or regulatory investigations and fines, as well as harm to our sales and reputation. In addition, issues relating to intellectual property rights in AI-generated content have not been fully addressed by the courts, laws or regulations. Accordingly, the use of AI technologies and the implementation of generative AI technologies into our platform offerings may result in exposure to claims related to infringement or other violation of a third party's intellectual property rights or other third-party rights.

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Furthermore, many of our AI features may rely on third-party service providers. As such, any improper processing of confidential information or personal information by these service providers could harm our reputation, business or customers, or expose us to legal liability. Any disruption or failure in our AI systems or infrastructure, or those of our third-party service providers, could result in delays or errors in our operations, which could harm our business and financial results. As with many innovations, AI presents risks and challenges that could affect its adoption, and therefore our business. AI algorithms or training methodologies may be flawed. Datasets may be overbroad, insufficient, or contain biased information. Our generative AI technology features may also generate output that is misleading, insecure, inaccurate, harmful or otherwise flawed, which may harm our reputation, business or customers, or expose us to legal liability. Also, some AI scenarios present ethical issues. If we enable or offer AI solutions that are controversial because of their purported or actual impact on human rights, privacy, employment or other social issues, we may experience reputational harm.

New and emerging AI technologies may require additional investment in the development and maintenance of various models, approaches and processes, as well as development of protections and safeguards for the use of AI technologies, which may be expensive and could impact our financial results if we decide to further expand generative AI into our platform offerings. Likewise, the use of AI involves significant technical complexity and requires specialized expertise. The success of any enhancement or new product depends on many factors, including its relevance to our customers, timely implementation and market acceptance. If our AI-powered platform offerings fail to achieve widespread market adoption or there is a reduction in demand due to a lack of customer acceptance, technology challenges, strengthening competition, weakening economic conditions or cybersecurity or privacy concerns, our business could be harmed and our financial results could be adversely affected.

***If we or our third-party service providers experience a cybersecurity breach or other incident, including any breach or incident that allows, or is perceived to allow, unauthorized access to our platform or our data, our reputation and brand, business, financial condition and results of operations could be adversely affected.*** 

We rely on our own and our third-party service providers' platforms, computer systems, hardware, software, technology infrastructure and online sites and networks for both internal and external operations that are critical to our business (collectively, IT Systems). We own and manage some of these IT Systems but also rely on third parties for a range of IT Systems and related products and services, including but not limited to cloud computing services. Because we make extensive use of third-party suppliers and service providers, such as cloud services that support our internal and customer-facing operations, disruptions to or unauthorized access to third-party IT Systems can adversely affect our business, financial condition and results of operations. If we experience difficulties in implementing new or upgraded IT systems or experience significant failures of our IT Systems, or if we are unable to successfully modify our IT systems to respond to changes in our business needs, our ability to run our business could be adversely affected. It is also possible that our competitors could develop better platforms than ours, which could adversely affect obtaining and retaining our customers. Any of these or other related problems could, in turn, adversely affect our business, reputation and brand, financial condition and results of operations.

We may rely on third parties when deploying, servicing or otherwise operating our IT Systems, and in doing so, expose them and therefore us to security risks outside of our direct control. Specifically, certain third parties who create applications that integrate with our platform may receive, store or otherwise process our and our customers' information, including confidential, sensitive or personal information and other information about individuals, our customers, employees, contractors and business partners (Sensitive Information). Our third-party service providers may fail to adequately secure their or our IT Systems or our data. Our ability to monitor our service providers' security is limited, and, in any event, third parties may be able to circumvent those security measures. Moreover, techniques used to obtain unauthorized access to systems and networks change frequently and may not be known until launched against us or our third-party service providers. These risks also are heightened when service providers work remotely. The use of our platform involves the transmission, storage and processing of Sensitive Information. The secure processing, maintenance, transmission and storage of our Sensitive Information is critical to us, and we devote significant resources to protecting this information.

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Additionally, remote working arrangements at our company, and many of our third-party providers, increase cybersecurity risks due to the challenges associated with managing remote computing assets and security vulnerabilities that are present in many non-corporate and home networks. The unprecedented scale of remote work may require additional personnel and resources, which nevertheless cannot be guaranteed to fully safeguard all IT Systems and information upon which we rely.

We face numerous and evolving cybersecurity risks, including from diverse threat actors, such as state-sponsored organizations, opportunistic hackers and hacktivists, as well as through diverse attack vectors, such as social engineering/phishing (including on our customers and end customers), malware (including ransomware attacks), malfeasance by insiders, human or technological error, or other techniques used to obtain unauthorized access, disable or degrade services or sabotage systems, and as a result of malicious code embedded in open-source software, or misconfigurations, "bugs" or other vulnerabilities in commercial software that is integrated into our (or our suppliers' or service providers') IT Systems. We may be unable to detect, prevent, mitigate, remediate or otherwise respond to cybersecurity breaches or other incidents, or to avoid a material adverse impact to our IT Systems, data or business. Notwithstanding our efforts, we and our third-party service providers have failed to and may in the future fail to detect cybersecurity breaches or other incidents, including potential breaches or incidents that may compromise our IT Systems or data, and may face difficulties or delays in identifying any such breaches or incidents. Such breaches or incidents have resulted in and may in the future result in theft, loss, damage, unavailability of, or unauthorized access to or use, disclosure, modification or other processing of, our data, loss of access to our data or IT Systems or cause other business delays or disruptions.

In providing our platform we often manage, use and store Sensitive Information, and we expect these activities to increase, including through the use of AI and our managed IT services. Any actual or perceived cybersecurity breach or other incident, including any unauthorized or inadvertent access to, our IT Systems and the loss or unavailability of, unauthorized access to, or unauthorized use, disclosure, modification or other processing of, our data, could result in regulatory investigations and other proceedings, orders and other obligations, claims, demands, litigation and other proceedings, indemnity obligations, damages, penalties, fines and incurring other costs, violations of applicable laws and regulations and other liabilities, the perception that our platform offerings are insecure and the loss of existing customers or failure to attract and retain new customers, which could have a material and adverse effect on our business, financial condition and results of operations. We also could be required to divert substantial resources to prevent further cybersecurity breaches or other incidents. We have experienced such incidents in the past, and may experience similar incidents in the future. While to date no incidents have had a material impact on our operations or financial results, we cannot guarantee that material incidents will not occur in the future. We cannot be certain that our insurance coverage will be adequate for all liabilities incurred relating to any cybersecurity breach or incident, or that insurance will continue to be available to us on economically reasonable terms, if at all.

***If we do not adequately maintain or protect or effectively enforce our technology or intellectual property rights, our business, financial condition and results of operations could be materially adversely affected.*** 

We rely on a combination of trademark, trade secret and copyright protections, and contractual restrictions to protect our intellectual property rights. However, effective intellectual property rights protection is expensive to obtain and maintain, including with respect to the expenses and costs of clearing, prosecuting, registering, maintaining, defending and enforcing our intellectual property rights. Although we may incur substantial costs in protecting our technology and intellectual property, we cannot be certain that we have adequately protected or will be able to adequately protect our technology and intellectual property or that our competitors will not be able to utilize our existing technology or develop similar technology independently. Given the costs and expenses of registering and maintaining, protecting, defending and enforcing our intellectual property rights, we may choose not to register, maintain, protect, defend or enforce certain intellectual property rights that later turn out to be important. Further, we may not timely or successfully register our trademarks or otherwise secure our intellectual property rights, or timely challenge the intellectual property rights of others. Our efforts to protect, maintain or enforce our intellectual property rights may be ineffective and could result in substantial costs and diversion of resources, which could adversely affect our business, financial condition and results of operations.

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Despite our efforts to protect our technology and intellectual property rights, it may be possible for third parties to obtain and use our technology and intellectual property without our consent. In addition, unauthorized parties may also independently develop technology and intellectual property similar to ours, or obtain access to our trade secrets, know-how or other technology through various methods, including through cybersecurity attacks, or reverse engineering, and our methods of protecting this technology may be inadequate. We have in the past been, and may in the future be, subject to others infringing or otherwise violating our intellectual property rights. Competitors have adopted, and may in the future adopt, trademarks similar to ours, thereby harming our ability to build brand identity and possibly leading to end-customer confusion. We believe that the protection of our trademark rights is an important factor in product recognition, protecting our brand and maintaining goodwill and if we do not adequately protect our rights in our trademarks from infringement, any goodwill that we have developed in those trademarks could be lost or impaired, which could harm our brand and our business. Additionally, litigation or proceedings before state and federal courts of the Unites States, the U.S. Patent and Trademark Office or other governmental authorities and administrative bodies in the United States and abroad may be necessary in the future to protect or enforce our intellectual property rights, defend our business activities and determine the validity and scope of the intellectual property rights of others.

***Intellectual property infringement assertions or other assertions of violations of intellectual property rights by third parties could result in significant costs and adversely affect our business, financial condition, results of operations and reputation.*** 

We operate in an industry with relatively frequent intellectual property disputes and litigation. Other parties have in the past asserted, and may assert in the future, that we have infringed or otherwise violated their intellectual property rights. We could be required to pay substantial damages or cease using technology, trademarks or other intellectual property or taking actions that are deemed infringing or otherwise violating third party intellectual property rights. In addition, despite our efforts to ensure that our employees, consultants, vendors and service providers do not infringe or otherwise violate the intellectual property rights of third parties in their work for us, we have in the past been, and may in the future be, subject to claims that we or our employees, consultants, vendors or service providers have inadvertently or otherwise infringed or otherwise violated a third party's intellectual property rights. Further, we cannot predict whether claims of infringement or other violations of a third-party's intellectual property rights would substantially adversely affect our business, financial condition and results of operations. The defense of these claims, whether they are with or without merit or are determined in our favor, may result in costly litigation and diversion of technical and management personnel. In addition, we may be unable to meet our obligations to customers under our customer contracts or to compete effectively, and our revenue and results of operations could be adversely impacted. We may need to license intellectual property rights or technology from third parties which may require us to pay royalties or make one-time payments. We might also be obligated to indemnify our customers or other companies in connection with any such litigation and to obtain licenses, modify our technology or refund fees, which could harm our financial results. Further, an adverse outcome of any such claim may harm our brand and reputation, and require us to pay damages, potentially including treble damages and attorneys' fees if we are found to have willfully infringed a party's patent, trademark or copyright rights, cease use of intellectual property alleged to infringe or otherwise violate the intellectual property of others, or otherwise cease making, licensing or using technology that is alleged to infringe or otherwise violate the intellectual property rights of others, expend additional development resources to redesign our offerings, or enter into potentially unfavorable royalty or license agreements in order to obtain the necessary rights under such third party's intellectual property rights. Royalty or licensing agreements with respect to intellectual property rights of third parties, if required, may not be available on terms favorable to us, or available at all. Even if these matters do not result in litigation or are resolved in our favor or without significant cash settlements, the time and resources necessary to resolve them could adversely affect our business, reputation, financial condition, results of operations and reputation.

***Our business involves hosting, distributing and training AI models on large quantities of third-party content.***

Our business involves hosting, distributing and training AI models on content supplied by others, including licensed and public datasets. Some of that content may violate a third party's rights or a law, rule or regulation, and we could face lawsuits, liability or negative publicity for hosting or distributing such content, such as claims for fraud, defamation, libel, invasion of privacy, negligence, copyright or trademark infringement or other theories based on the nature of such information or content. Such lawsuits, liability, negative publicity or claims, with or without merit, could be costly to defend or divert the attention of our management or other personnel.

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While we take steps to mitigate such risks, we cannot guarantee that those steps will be effective or sufficient to protect us from liability or to minimize our costs. Preventing or responding to these actions may require us to make substantial investments in people and technology and these investments may not be successful, adversely affecting our business, financial condition and results of operations. For example, we take steps to avail ourselves of the safe harbor for copyright infringement under the Digital Millennium Copyright Act of 1998 (DMCA). The DMCA is intended, among other things, to reduce the liability of online service providers with respect to user-uploaded content. Under the DMCA there are safe harbors for copyright infringement available for online service providers that provide specific services, if they take certain affirmative steps as required under the DMCA. The applications and interpretations of the statutory requirements of the DMCA are evolving and may be modified by court rulings and industry practice. We therefore cannot guarantee that we will meet the safe harbor requirements of the DMCA, despite our efforts to do so. If we fail to comply with such statutory requirements or if the interpretations of the DMCA change, we may be subject to liability for copyright infringement resulting from our hosting and distribution of user-generated content.

***Our platform offerings contain third-party open-source software components, and failure to comply with the terms of the underlying open source software licenses could adversely affect our business, results of operations, financial condition and prospects.*** 

Our platform contains software modules licensed to us by third-party authors under "open source" licenses. In addition to our proprietary algorithms, we use open source large language models as the base for our fine-tuned models. Use and distribution of open source software may entail greater risks than use of third-party commercial software, as open source licensors generally do not provide support, warranties, indemnification or other contractual protections regarding infringement claims or the quality of the code. In addition, the public availability of such software may make it easier for others to compromise our platform.

Some open source licenses contain requirements that may, depending on how the licensed software is used, modified or distributed, require that licensees make available source code for modifications or derivative works created based upon the licensed open source software, authorize further modification and redistribution of that source code, make that source code available at little or no cost, or grant other licenses to the licensee's intellectual property. If we combine our proprietary software with open source software in a certain manner, we could, under certain open source licenses, be required to release the source code of our proprietary software under the terms of an open source software license. This could enable our competitors to create similar offerings with lower development effort and time and ultimately could result in a loss of our competitive advantages. Alternatively, to avoid the release of the affected portions of our source code, we could be required to purchase additional licenses, expend substantial time and resources to re-engineer some or all of our software or cease use or distribution of some or all of our software until we can adequately address the concerns.

Although we require vendors of open source software to be reviewed by our vendor management process, compliance with that policy may be inconsistent. We have not formalized the policies or procedures to monitor our use of open source software. The terms of many open source licenses have not been interpreted by U.S. or foreign courts, and there is a risk that these licenses could be construed in a way that could impose unanticipated conditions or restrictions on our ability to provide or distribute our platform offerings. From time to time, there have been claims against companies that incorporate open source software into their offerings alleging that the use of such open source software infringes upon the intellectual property rights of a third party. As a result, we could be subject to similar lawsuits by third parties with respect to our use of software that we believe to be open source software. If we are held to have breached or failed to fully comply with all the terms and conditions of an open source software license, we could face infringement or other liability, or be required to seek licenses from third parties to continue providing our platform on terms that are costly or not economically feasible, to re-engineer our platform, to discontinue or delay the provision of our platform if re-engineering could not be accomplished on a timely basis, or to make our proprietary code generally available in source code form, any of which could adversely affect our business, financial condition or results of operations.

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**Risks Related to Regulation and Taxation**

***Our business is subject to complex and evolving laws, regulations and industry standards, and unfavorable interpretations of, or changes in, or our actual and perceived failure to comply with these laws, regulations and industry standards could substantially harm our business and results of operations.*** 

We are subject to a number of laws and regulations that apply generally to businesses, including laws and regulations governing the internet and the marketing, sale and delivery of services over the internet. These laws and regulations, which continue to evolve, cover, among other things, taxation, tariffs, privacy, cybersecurity, pricing, content, copyrights, distribution, mobile and telecommunications, advertising practices, electronic contracts, sales procedures, automatic subscription renewals, credit card processing procedures, consumer and business financial products, insurance products, consumer protection, payroll compliance, the design and operation of websites and the characteristics and quality of products that are offered online. We cannot guarantee that we have been or will in the future be fully compliant with such laws and regulations in every jurisdiction, as it is not entirely clear in every jurisdiction how existing laws and regulations governing such areas apply or will be enforced. Moreover, as the regulatory landscape continues to evolve, increasing regulation and enforcement efforts by federal, state and foreign authorities, and the prospects for private litigation claims, become more likely. In addition, the adoption of new laws or regulations, or the imposition of other legal requirements, that adversely affect our ability to market or sell our platform could harm our ability to offer, or negatively affect contractor demand for, our platform, which could impact our revenue, impair our ability to expand our platform and service offerings, and make us more vulnerable to competition. Future regulations, or changes in laws and regulations or their existing interpretations or applications, could also require us to change our business practices and raise compliance costs or other costs of doing business. Additionally, various federal, state and foreign labor laws govern our relationships with our employees and affect operating costs. These laws include employee classifications as exempt or non-exempt, minimum wage requirements, unemployment tax rates, workers' compensation rates, overtime, family leave, workplace health and safety standards, payroll taxes, citizenship requirements and other laws and regulations. The number and type of laws applicable to us and our workforce will grow as our remote workforce increases. Significant additional laws or regulations, or our failure to comply with any laws and regulations that now, or could in the future, apply to our business could materially adversely affect our business, financial condition, results of operations and prospects. In addition, changes in regulations could negatively impact the business environment for the industry we operate in. Laws and regulations are rapidly evolving and may change significantly in the future.

***If we fail or are alleged to fail to comply with privacy or cybersecurity laws, regulations and other obligations, our business, financial condition, results of operations and reputation could be materially adversely affected.*** 

We receive, collect, store, use and otherwise process personal information and other confidential or proprietary data, for numerous purposes, including legal, marketing and other business-related purposes. Depending on various factors, including the nature of the information and the relationship with our users, we may act as either a data controller or business, or a data processor or service provider, each of which carries distinct legal and regulatory commitments under applicable privacy laws. As a data controller or business, we are directly responsible for determining the purposes and means of processing personal information, which subjects us to stringent requirements, including regarding privacy, transparency and accountability. Conversely, when we act as a data processor or service provider on behalf of our clients, we are obligated to process personal information in accordance with their instructions and applicable contractual terms and privacy laws.

We are subject to laws, regulations and other obligations that govern privacy and cybersecurity, including with respect to marketing, consumer protection and our collection, storage, sharing, use, disclosure, protection, sale and other processing of personal information. The regulatory framework for privacy and cybersecurity may be subject to new or differing interpretations, inconsistent, or conflicting with, other obligations, and is expected to remain rapidly evolving and to increase our compliance costs and liability exposure.

Many of these laws, regulations and other obligations impose differing obligations depending on whether we are acting as a data controller or business, or a data processor or service provider. For example, as a data controller or business, we are required to meet obligations around obtaining data subject consents, enabling individuals to exercise their rights under applicable laws, and ensuring data accuracy. As a data processor or service provider, our primary obligations focus on implementing appropriate security measures, following the instructions of the data controller or business and assisting the controller or business in meeting its own compliance requirements. These dual roles increase the complexity of our compliance efforts and the potential for liability in the event of a breach or regulatory violation.

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In the United States, privacy and cybersecurity laws include rules and regulations promulgated under the authority of the Federal Trade Commission, the Electronic Communications Privacy Act, the Computer Fraud and Abuse Act, the California Consumer Privacy Act of 2018 (CCPA) and other state and federal laws relating to privacy and cybersecurity. The CCPA requires covered companies to make certain disclosures to California consumers about their data collection, use and sharing practices, allows consumers to opt out of the sale of personal information to third parties, and provides a private right of action and statutory damages for data breaches. The California Privacy Rights Act of 2020 (CPRA), which took effect on January 1, 2023, amended the CCPA by imposing additional requirements, including granting California residents the ability to limit the use of their sensitive information, imposing penalties for violations concerning California residents under the age of 16, and establishing the California Privacy Protection Agency to implement and enforce the law. While the CPRA regulations introduced more stringent requirements, many of these regulations remain incomplete or subject to legal challenges, creating significant uncertainty and compliance challenges.

The enactment of the CCPA has spurred a wave of similar legislative developments in other states, resulting in a complex patchwork of overlapping but sometimes differing privacy laws. For example, Virginia, Colorado, Utah and Connecticut have enacted general privacy laws that became effective in 2023; Florida, Montana, Oregon and Texas have enacted privacy laws that became effective in 2024; Delaware, Iowa, Maryland, Minnesota, Nebraska, New Hampshire, New Jersey and Tennessee have enacted privacy laws that became effective in 2025; and Indiana, Kentucky and Rhode Island have enacted privacy laws that become effective in 2026. Each of these laws imposes unique compliance requirements and creates additional challenges for maintaining consistency across jurisdictions. At the federal level, there is ongoing discussion about the possibility of comprehensive privacy legislation. However, no uniform standard has been enacted, and state-level activity continues to shape the regulatory landscape. The evolving nature of privacy and cybersecurity laws increases our compliance costs and potential liability as we navigate variations in requirements across jurisdictions.

Additionally, the Department of Justice recently issued a final rule which took effect in April 2025 that places limitations, and in some cases prohibitions, on certain transfers of sensitive personal data to business partners located in China or with other specified links to China (and other designated countries). These rules also may broadly require us to extract promises from business partners that they will not transfer data we share with them onward to parties linked to countries of concern.

We are also subject to a variety of industry standards, contractual and other obligations, such as self-regulatory guidelines, that govern our privacy and cybersecurity practices. These obligations require us to, for example, implement opt-out mechanisms, provide detailed disclosures and adhere to principles such as transparency and accountability. Failure to comply or to meet industry expectations with respect to these obligations could result in regulatory investigations, negative publicity, private litigation or other proceedings, which could adversely impact our reputation, increase costs and damage our business.

As we expand our operations and data-related solutions, the scrutiny on our data collection, use, sharing and processing practices may increase. Future laws and regulations could impose additional restrictions on data processing, including requirements for explicit consent, limitations on data retention or increased data subject rights. These changes may require us to redesign our platform, increase compliance costs or limit our ability to collect and use data, potentially reducing demand for our offerings. Additionally, as we continue to expand and develop new products and services, we may face challenges in uniformly applying compliance standards, particularly as requirements evolve or as certain legacy systems and processes are integrated into our broader platform. Any failure to fully implement or apply these standards across our offerings could result in increased compliance costs, reputational harm, loss of customer trust, regulatory scrutiny or legal liability, which could adversely affect our business, financial condition and results of operations.

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While we have implemented measures designed to address privacy and cybersecurity laws, regulations and other obligations, we may, or may be perceived to have, not done so consistently across all our products and services. For instance, while we have completed a SOC 2 Type II audit, the scope of the system for this certification does not incorporate all of our products and services. This limitation may expose us to risks if customers or regulators expect all our offerings to meet the standards set forth in the certification or if gaps in compliance across different products create vulnerabilities.

Compliance with privacy and cybersecurity laws, regulations and other obligations is, and is likely to remain, uncertain for the foreseeable future. We cannot guarantee that we have been or will in the future be fully compliant with such laws, regulations and other obligations in every jurisdiction. Complying with these laws, regulations or other obligations may require us to modify our platform offerings, incur substantial compliance, technical and operational costs, modify our practices and restrict our business operations. Any failure or perceived failure to comply with these laws, regulations and other obligations relating to privacy or cybersecurity, including our own privacy policies, may result in regulatory investigations or enforcement actions, litigation (including individual or class action lawsuits), claims or public statements against us by consumer advocacy groups or others, and could result in significant monetary liability, fines, penalties, loss of customers, reputational harm and loss of goodwill and trust, which could have a material and adverse effect on our business, financial condition, results of operations and reputation.

***Failure to comply with anti-bribery and anti-corruption laws and anti-money laundering laws, export controls, trade and economic sanctions and similar laws, could subject us to penalties and other adverse consequences.***

Failure to comply with anti-bribery, anti-corruption, anti-money laundering, export controls, trade and economic sanctions, and similar laws could subject us to penalties and other adverse consequences. We are subject to the U.S. Foreign Corrupt Practices Act of 1977, as amended (the FCPA), the U.S. domestic bribery statute contained in 18 U.S.C. § 201, the U.S. Travel Act, the USA PATRIOT Act and other federal, state and local laws that address anti-bribery, anti-corruption and anti-money laundering. If we expand internationally, we may become subject to the anti-corruption, anti-bribery and anti-money laundering laws of other countries. Anti-corruption and anti-bribery laws have been enforced aggressively in recent years and are interpreted broadly to generally prohibit companies, their employees, agents, representatives, business partners and third-party intermediaries from authorizing, offering or providing, directly or indirectly, improper payments or benefits to recipients in the public or private sector.

If we pursue international expansion, our risks under these laws may increase as we, our employees, agents, representatives, business partners and third-party intermediaries may have direct or indirect interactions with officials and employees of government agencies or state-owned or affiliated entities and we may be held liable for the corrupt or other illegal activities of these employees, agents, representatives, business partners or third-party intermediaries even if we do not explicitly authorize such activities. These laws also require that we keep accurate books and records and maintain internal controls and compliance procedures designed to prevent any such actions. While we will have policies and procedures to address compliance with such laws, we cannot assure you that none of our employees, agents, representatives, business partners or third-party intermediaries will take actions in violation of our policies and applicable law, for which we may be ultimately held responsible.

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In some cases, our solutions may be subject to U.S. and foreign export controls, trade and economic sanctions and import laws and regulations. Governmental regulation related to the import or export of our solutions or our failure to obtain any required import or export authorization for our solutions, when applicable, could harm future international sales and adversely affect our revenue. U.S. export control laws and trade and economic sanctions prohibit the shipment of certain products and services to countries, governments, and persons targeted by U.S. sanctions without government authorization. In addition, various foreign governments may also impose controls, export license requirements, and/or restrictions that could be applicable to our solutions. If we fail to comply with export and import regulations and such trade and economic sanctions, penalties could be imposed, including fines and/or denial of certain export privileges. Compliance with applicable regulatory requirements regarding the export of our solutions may create delays in the introduction of our solutions in international markets or, in some cases, prevent the export of our solutions to some countries altogether. Moreover, any new export or import restrictions, new legislation or shifting approaches in the enforcement or scope of existing regulations, or in the countries, persons or products targeted by such regulations, could result in decreased use of our solutions by, or in our decreased ability to export our solutions to, existing or potential customers with international operations. Any decreased use of our platform offerings or limitation on our ability to export or sell our offerings could adversely affect our business, financial condition and results of operations.

Any allegations or violation of the FCPA or other applicable anti-bribery or anti-corruption laws, anti-money laundering laws or export controls and trade and economic sanctions could result in whistleblower complaints, sanctions, settlements, prosecution, enforcement actions, fines, damages, adverse media coverage, investigations, loss of export privileges, severe criminal or civil sanctions or suspension or debarment from U.S. government contracts, all of which may have an adverse effect on our reputation, business, results of operations and prospects. Responding to any investigation or action could result in significant diversion of management's attention and resources and significant defense costs and other professional fees. In addition, the U.S. government may seek to hold us liable for successor liability for FCPA, export control or trade and economic sanctions violations committed by companies in which we invest or that we acquire. As a general matter, investigations, enforcement actions and sanctions could harm our reputation, business, financial condition and results of operations.

***We identified material weaknesses in our internal control over financial reporting in connection with the preparation and audit of our financial statements for the fiscal years ended January 31, 2024 and 2025, and we may identify additional material weaknesses in the future that may cause us to fail to meet our reporting obligations or result in material misstatements of our financial statements. If we fail to remediate existing material weaknesses, identify additional material weaknesses or fail to establish and maintain effective internal control over financial reporting, our ability to accurately and timely report our financial results could be adversely affected.***

We have been a private company since our inception and, as such, we have not had the internal control over financial reporting requirements of a publicly traded company. As a result of becoming a public company, we will be required to furnish a report by management on the effectiveness of our internal control over financial reporting. A material weakness is a deficiency or combination of deficiencies in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of our financial statements will not be prevented or detected on a timely basis. To date, we have had limited financial and accounting personnel to fully execute our accounting processes and address our internal control over financial reporting. In connection with the preparation and audit of our financial statements for the fiscal years ended January 31, 2024 and 2025, we have identified material weaknesses in our internal control over financial reporting that could adversely affect our ability to accurately and timely report our financial results.

Specifically, we have identified deficiencies in our information technology general control (ITGC) environment, including deficiencies related to logical access and segregation of duties. These deficiencies exist within (1) certain enterprise resource planning systems (ERPs), (2) third-party financial systems that are integrated with these ERPs and are used in our financial reporting processes and (3) internally developed systems. Improper logical access management in these systems may increase the risk of unauthorized access to critical financial data, while inadequate segregation of duties could result in inappropriate or undetected changes to financial systems and data.

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Additionally, we identified insufficient documentation supporting the performance and effectiveness of certain control activities related to the financial close and reporting process. This includes the lack of timely execution of reviews and inadequate evidence of review procedures, which diminishes our ability to demonstrate that controls operated effectively throughout the reporting period.

We are in the process of implementing remediation plans to address these material weaknesses, including enhancements to our ITGC environment, improvements to segregation of duties and strengthening documentation and execution of our financial reporting controls. The material weaknesses will be considered remediated when our management designs and implements effective controls that operate for a sufficient period of time and management has concluded, through testing, that these controls are effective. Our management will monitor the effectiveness of our remediation plans and will make changes management determines to be appropriate. We cannot assure you that the measures we will implement will be sufficient to remediate the material weaknesses we have identified or avoid potential future material weaknesses. If the steps we take do not correct the material weaknesses in a timely manner, we will be unable to conclude that we maintain effective internal controls over financial reporting. Accordingly, there could continue to be a reasonable possibility that these deficiencies or others, individually and in the aggregate, could result in errors in our financial statements that may not be prevented or detected on a timely basis, potentially leading to a material misstatement, resulting in a restatement of financial statements, causing us to fail to timely meet our reporting obligations or causing investors to lose confidence in our reported financial information, which could cause a decline in the market price of our Class A common stock and we could be subject to sanctions or investigations by the SEC or other regulatory authorities including equivalent foreign authorities.

When we cease to be an "emerging growth company" as defined under the JOBS Act, our auditors will be required to express an opinion on the effectiveness of our internal controls, unless we are then eligible for any other exemption from such requirement. At such time, our independent registered public accounting firm may issue a report that is adverse, which would occur in the event we have a material weakness in our internal control over financial reporting. If new material weaknesses are identified in our internal control over financial reporting, our ability to record, process and report financial information accurately, and to prepare financial statements within the time periods specified by the rules and forms of the SEC, could be adversely affected which, in turn, may adversely affect our reputation and business and the market price of our Class A common stock. In addition, any such failures could result in litigation or regulatory actions by the SEC or other regulatory authorities, loss of investor confidence, delisting of our securities and harm to our reputation and financial condition, or diversion of financial and management resources from the operation of our business.

***We engage in the solicitation of charitable contributions on behalf of nonprofit organizations from time to time, and as a result we are subject to regulatory, reputational and financial risks.*** 

Many jurisdictions, both at the federal and state level, impose strict regulations on entities that engage in the solicitation of charitable funds on behalf of nonprofit organizations, including strict state-specific registration requirements. Any failure to maintain compliance with these laws and regulations could result in fines, enforcement actions or reputational damage. Organizations like ours that solicit and receive charitable contributions may be exploited and expose us to heightened money laundering risks and subject us to liability under applicable anti-money laundering laws. While we maintain stringent and comprehensive efforts to screen and monitor charitable contributions, there can be no assurance that these controls will be effective. Our success depends on the trust we maintain with our customers, and any failure to comply with the foregoing regulations could severely harm our brand and reputation and materially adversely affect our business.

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***Our estimates or judgments relating to our critical accounting policies may be based on assumptions that change or prove to be incorrect, which could cause our results of operations to fall below expectations of securities analysts and investors, resulting in a decline in the market price of our Class A common stock.*** 

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in our consolidated financial statements and accompanying notes. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, as described in the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations." The results of these estimates form the basis for making judgments about the recognition and measurement of certain assets and liabilities and revenue and expenses that is not readily apparent from other sources. Our accounting policies that involve judgment and use of estimates include the fair value of assets acquired and liabilities assumed in acquisitions and investments. If our assumptions change or if actual circumstances differ from those in our assumptions, our results of operations could be adversely affected, which could cause our results of operations to fall below the expectations of securities analysts and investors, resulting in a decline in the market price of our Class A common stock.

***Our ability to use our net operating losses and certain other tax attributes to offset future taxable income may be subject to certain limitations.*** 

As of January 31, 2025, the Company had approximately $1.3 million and $1.2 million of federal and state net operating loss carryforwards (NOLs), respectively. All of these NOLs carryforward indefinitely. The amount of federal NOLs arising in taxable years beginning after December 31, 2017, that we are permitted to deduct in a taxable year is limited to 80% of our federal taxable income in each such year to which the NOLs are applied. Similar limitations may apply to our state NOLs. Utilization of our NOLs and certain other tax attributes depends on many factors, including us attaining profitability, which cannot be assured. Due to our cumulative losses, we have recorded a full valuation allowance against our NOLs as of July 31, 2025.

In addition, our ability to utilize our federal NOLs and certain other tax attributes, may be limited under Sections 382 and 383 of the Internal Revenue Code of 1986, as amended (the Code). These limitations apply if we experience an "ownership change," which generally occurs if one or more stockholders who own at least 5% of our stock increase their ownership (by value) by more than 50 percentage points over their lowest ownership percentage within a rolling three-year period. Similar rules may apply under state and local tax laws.

If we have undergone ownership changes, or if we undergo an ownership change in the future, including as a result of this offering, our ability to use our pre-change NOLs and other pre-change tax attributes (such as research and development tax credits) to offset our post-change income or taxes may be limited. Similar provisions of state tax law may also apply to limit the use of our state NOLs. Future changes in our stock ownership, some of which may be outside of our control, may result in an ownership change under these rules.

There is a risk that due to changes in tax law, regulatory changes or other unforeseen reasons, our existing NOLs or business tax credits could expire or otherwise become unavailable to offset future income tax liabilities. At the state level, there may also be periods during which the use of NOLs or business tax credits is suspended or otherwise limited, which could accelerate or permanently increase state taxes owed by us. For these reasons, we may not be able to realize a tax benefit from the use of our NOLs or tax credits, even if we attain profitability.

***Our results of operations may be harmed if we are required to collect or pay sales or other taxes in jurisdictions where we have not historically done so.*** 

The application of federal, state, local and foreign tax laws to services provided electronically is evolving. In particular, the applicability of sales and use taxes and other taxes, such as gross receipts, excise, digital service and telecom taxes, to our platform in various jurisdictions is unclear, and these rules and regulations are subject to varying interpretations that may change over time. We collect and remit sales tax and other taxes in the United States. It is possible, however, that we could face sales tax or other tax audits and that our liability for these taxes could exceed our estimates as tax authorities in the United States or other jurisdictions could still assert that we are obligated to collect additional tax amounts from our paying customers and remit those taxes to those authorities. We could also be subject to audits in states and foreign jurisdictions for which we have not accrued tax liabilities. A successful assertion that we should be collecting additional sales or other taxes in jurisdictions where we have not historically done so and do not accrue for such taxes could result in substantial tax liabilities for past sales, discourage organizations from using our platform or otherwise harm our business, financial condition and results of operations.

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Further, one or more state or other tax authorities could seek to impose additional sales, use, telecommunications tax or other tax collection and record-keeping obligations on us or may determine that such taxes should have, but have not been, paid by us. Liability for past taxes may also include substantial interest and penalty charges. Any successful action by state or other authorities to compel us to collect and remit sales tax, use tax, telecommunication tax or other taxes, either retroactively, prospectively or both, may harm our business, financial condition and results of operations.

***Changes in tax laws and regulations and those which we are subject to in various tax jurisdictions could adversely affect our business, financial condition and results of operations.*** 

We operate in multiple jurisdictions and are subject to tax laws and regulations of the U.S. federal, state and local and foreign governments. New income, sales, use, digital service or other tax laws, statutes, rules, regulations or ordinances could be enacted at any time. Those enactments could harm our domestic and international business operations and our business, financial condition and results of operations. Further, existing tax laws, statutes, rules, regulations or ordinances could be interpreted, changed, modified or applied adversely to us. For example, on July 4, 2025, the United States enacted new U.S. federal tax legislation commonly referred to as the One Big Beautiful Bill Act. We are currently evaluating the full impact of this legislation on us. The introduction of new, or changes to existing, tax laws could require us or our customers to pay additional tax amounts on a prospective or retroactive basis, as well as require us or our customers to pay fines and/or penalties and interest for past amounts deemed to be due. If we raise our prices to offset the costs of these changes, existing and prospective customers may elect not to purchase our offerings in the future. Additionally, new, changed, modified or newly interpreted or applied tax laws could increase our customers and our compliance, operating and other costs, as well as the costs of our offerings. Further, these events could decrease the capital we have available to operate our business. Any or all of these events may harm our business, financial condition and results of operations.

If we expand the scale of our international business activities, any changes in the U.S. or foreign taxation of such activities may increase our worldwide effective tax rate and harm our business, financial condition and results of operations. We may be subject to taxation in several jurisdictions around the world with increasingly complex tax laws, the application of which can be uncertain. The amount of taxes we pay in these jurisdictions could increase substantially as a result of changes in the applicable tax principles, including increased tax rates, new tax laws or revised interpretations of existing tax laws and precedents. An increase in our tax liabilities could harm our liquidity and results of operations. In addition, the authorities in these jurisdictions could review our tax returns and impose additional tax, interest and penalties, and the authorities could claim that various withholding requirements apply to us or assert that benefits of tax treaties are not available to us, any of which may harm us and our results of operations.

***We are an emerging growth company and a smaller reporting company, and any decision on our part to comply only with certain reduced reporting and disclosure requirements applicable to emerging growth companies and smaller reporting companies could make our Class A common stock less attractive to investors.***

We are an "emerging growth company," as defined in the JOBS Act, and for as long as we continue to be an emerging growth company, we may choose to take advantage of exemptions from various reporting requirements applicable to other public companies but not to "emerging growth companies," including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•presentation of only two years of audited financial statements and related financial disclosure in this prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•exemption from the requirement to have our registered independent public accounting firm attest to management's assessment of our internal control over financial reporting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•exemption from compliance with the requirement of the PCAOB regarding the communication of critical audit matters in the auditor's report on the financial statements;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•reduced disclosure about our executive compensation arrangements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•exemption from the requirement to hold non-binding advisory votes on executive compensation or golden parachute arrangements.

We could continue to be an emerging growth company for up to five years following the completion of this offering. Our status as an emerging growth company will end as soon as any of the following takes place:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the last day of the fiscal year in which we have at least $1.235 billion in annual revenue;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the date we qualify as a "large accelerated filer," with at least $700.0 million of equity securities held by non-affiliates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the date on which we have issued, in any three-year period, more than $1.0 billion in non-convertible debt securities; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the last day of the fiscal year ending after the fifth anniversary of the completion of this offering.

In addition, the JOBS Act provides that an emerging growth company may take advantage of an extended transition period for complying with new or revised accounting standards, delaying the adoption of these accounting standards until they would apply to private companies unless it otherwise irrevocably elects not to avail itself of this exemption. We have elected to use this extended transition period until we are no longer an emerging growth company or until we affirmatively and irrevocably opt out of the extended transition period. As a result, our consolidated financial statements may not be comparable to the financial statements of companies that comply with new or revised accounting pronouncements as of public company effective dates.

We are also a "smaller reporting company" because our annual revenue was less than $100 million during the year ended January 31, 2025. We may continue to be a smaller reporting company after this offering in any given fiscal year if either (1) the market value of our common stock held by non-affiliates is less than $250 million as of the last business day of the second fiscal quarter of such fiscal year or (2) our annual revenue is less than $100 million during the most recently completed fiscal year and the market value of our common stock held by non-affiliates is less than $700 million as of the last business day of the second fiscal quarter of such fiscal year. If we are a smaller reporting company at the time we cease to be an emerging growth company, we may continue to rely on exemptions from certain disclosure requirements that are available to smaller reporting companies. Specifically, as a smaller reporting company we may choose to present only the two most recent fiscal years of audited financial statements in our Annual Report on Form 10-K and, similar to emerging growth companies, smaller reporting companies have reduced disclosure obligations regarding executive compensation.

We cannot predict if investors will find our Class A common stock less attractive if we choose to rely on any of the exemptions afforded emerging growth companies and smaller reporting companies. If some investors find our Class A common stock less attractive because we rely on any of these exemptions, there may be a less active trading market for our Class A common stock and the market price of our Class A common stock may be more volatile and may decline.

***We will incur increased costs and demands upon management as a public company, which could adversely affect our business, financial condition and results of operations.***

As a public company, we will incur substantial legal, accounting and other expenses that we did not incur as a private company, and these expenses may increase even more after we are no longer an "emerging growth company." For example, we will be subject to the reporting requirements of the Exchange Act, the Sarbanes-Oxley Act, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the rules and regulations of the SEC and the listing standards of the Nasdaq Stock Market. Our management and other personnel will need to devote a substantial amount of time to compliance with these requirements and we expect these rules and regulations to substantially increase our legal and financial compliance costs. For example, we expect these rules and regulations to make it more expensive for us to obtain director and officer liability insurance, and we may be required to accept

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reduced policy limits and coverage or incur substantially higher costs to maintain the same or similar coverage. As a result, it may be more difficult for us to attract and retain qualified individuals to serve on our board of directors, particularly to serve on our audit committee and compensation committee, or as our executive officers. In addition, we have expended, and anticipate that we will continue to expend, significant resources in order to maintain and improve the effectiveness of our disclosure controls and procedures and internal control over financial reporting. In that regard, we will need to hire additional accounting and financial staff with appropriate public company experience and technical accounting knowledge. In addition, as a public company, we may be subject to stockholder activism, which can lead to substantial costs, distract management and impact the manner in which we operate our business in ways we cannot currently anticipate. As a result of disclosure of information in this prospectus and in filings required of a public company, our business and financial condition will become more visible, which may result in threatened or actual litigation, including by competitors and other third parties. If such claims are successful, our business and results of operations could be adversely affected, and even if the claims do not result in litigation or are resolved in our favor, these claims, and the time and resources necessary to resolve them, could divert the resources of our management and adversely affect our business and results of operations. These increased costs and demands upon management could adversely affect our business, financial condition and results of operations.

***We may face challenges in closing our books and preparing timely and accurate financial reports, which could adversely impact our business, investor confidence and our ability to meet SEC reporting obligations.***

We have experienced significant growth in recent years through both organic expansion and a series of strategic acquisitions. As we continue to scale our operations, integrate multiple acquired businesses and expand our geographic and product footprint, we face increasing complexity in our financial reporting environment. Our recent acquisitions require integration of financial systems, controls, accounting policies and personnel. These rapid developments place significant demands on our finance, accounting and internal controls functions. Given the pace of our growth and acquisitions, there is a risk that we may not be able to timely or accurately close our books, integrate acquired entities or produce consolidated financial statements in accordance with U.S. GAAP or SEC requirements. This may result in delayed filings with the SEC, the restatement of previously issued financial statements or deficiencies in our internal control over financial reporting. Any of these outcomes could harm our reputation, trigger penalties or enforcement actions from the SEC, delay or impair our ability to access capital markets and reduce investor confidence in our company and financial reporting.

**Risks Related to Ownership of Our Class A Common Stock and this Offering** 

***As a result of the shutdown of the federal government, we intend to rely on Section 8(a) of the Securities Act to cause the registration statement of which this prospectus forms a part to become effective automatically. Our reliance on Section 8(a) could result in a number of adverse consequences, including the potential for a need for us to file a post-effective amendment and distribute an updated prospectus to investors, or a stop order being issued preventing use of the registration statement, and a corresponding substantial stock price decline, litigation, reputational harm and other negative results.***

The registration statement of which this prospectus forms a part is expected to become automatically effective by operation of Section 8(a) of the Securities Act on the 20th calendar day after the most recent amendment of the registration statement filed with the SEC, in lieu of the SEC declaring the registration statement effective following the completion of its review. Although our reliance on Section 8(a) does not relieve us and other parties from the responsibility for the adequacy and accuracy of the disclosure set forth in the registration statement and for ensuring that the registration statement complies with applicable requirements, use of Section 8(a) poses a risk that, after the date of this prospectus, we may be required to file a post-effective amendment to the registration statement and distribute an updated prospectus to investors, or otherwise abandon this offering, if changes to the information in this prospectus are required, or if a stop order under Section 8(d) of the Securities Act prevents continued use of the registration statement. These or similar events could cause the trading price of our Class A common stock to decline substantially, result in securities class action or other litigation, and subject us to significant monetary damages, reputational harm and other negative results.

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***After this offering, you will own single-vote-per-share Class A common stock while our co-founder, president and chief executive officer, Mr. Beck, and his affiliates will own shares of our ten-votes-per-share Class B common stock. Accordingly, Mr. Beck will control a significant portion of the voting power of our outstanding capital stock and your ability to influence or direct the outcome of key corporate actions and transactions, including a change in control, will be limited.***

Our Class A common stock sold in this offering entitles each holder to one vote per share. Our co-founder, president and chief executive officer, Mr. Beck, and his affiliates will hold shares of Class B common stock that are entitled to ten votes per share.

Immediately following this offering, the shares beneficially owned by Mr. Beck will represent 43.4 % of the aggregate voting power of our outstanding common stock. As a result, for the foreseeable future, Mr. Beck will be able to significantly influence all matters requiring approval by our stockholders, including the election of directors, amendments of our organizational documents and any merger, consolidation, sale of all or substantially all of our assets or other major transaction requiring stockholder approval. Mr. Beck may have interests that differ from yours and may vote in a way with which you disagree and which may be adverse to your interest. The concentration of influence will limit or preclude your ability to influence corporate matters for the foreseeable future and could have the effect of delaying, preventing or deterring a change in control of our company, could deprive you and other holders of Class A common stock of an opportunity to receive a premium for your Class A common stock as part of a sale of our company and could negatively affect the market price of our Class A common stock. In addition, this may prevent or discourage unsolicited acquisition proposals or offers for our capital stock that you may feel are in your best interest as one of our stockholders.

Additionally, future transfers by holders of our Class B common stock will generally result in those shares converting into our Class A common stock, subject to limited exceptions. The conversion of our Class B common stock to our Class A common stock will have the effect, over time, of increasing the relative voting power of those holders of our Class B common stock who retain their shares in the long term. As a result, it is possible that one or more holders of our Class B common stock, including Mr. Beck, could gain significant influence or majority control as other holders of our Class B common stock sell or otherwise convert their shares into our Class A common stock. In addition, the conversion of our Class B common stock into our Class A common stock will dilute holders of our Class A common stock, including holders of shares purchased in this offering, in terms of their voting power within our Class A common stock.

***We do not know whether an active market will develop for our Class A common stock or what the market price of our Class A common stock will be, and, as a result, it may be difficult for you to sell your shares of our Class A common stock.*** 

We have applied to list our Class A common stock on the Nasdaq Global Select Stock Market under the symbol "GLOO." However, prior to this offering, there has been no prior public trading market for our Class A common stock. We cannot assure you that an active trading market for our Class A common stock will develop on that exchange or elsewhere or, if developed, that any market will be sustained. If an active trading market does not develop, or develops but is not maintained, you may have difficulty selling any of our Class A common stock due to the limited public float. We cannot predict the prices at which our Class A common stock will trade. It is possible that in one or more future periods our results of operations and financial condition may not meet the expectations of public market analysts and investors, and, as a result of these and other factors, the price of our Class A common stock may fall. Accordingly, we cannot assure you of the liquidity of any trading market, your ability to sell your shares of our Class A common stock when desired or the prices that you may obtain for your shares.

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***Our quarterly results might fluctuate and if we fail to meet the expectations of analysts or investors, our stock price and the value of your investment could decline substantially.*** 

Our quarterly financial results might fluctuate as a result of a variety of factors, many of which are outside of our control. If our quarterly financial results fall below the expectations of investors or any securities analysts who might follow our stock, the price of our Class A common stock could decline substantially. Some of the important factors that might cause our revenue, operating results and cash flows to fluctuate from quarter to quarter include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our ability to attract new customers and retain and increase sales to existing customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the timing and size of new customer subscriptions and other agreements, renewals or cancellations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•changes in customer budgets or priorities, particularly within mission-driven organizations that may be subject to significant shifts in funding or leadership based on various factors outside of our control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the variability in demand from CFLs, which can influence our revenue directly or indirectly from NCPs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the timing and size of our acquisitions and investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the number of new employees added;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the amount and timing of our equity-based compensation expenses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the productivity of our sales force;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the amount and timing of operating expenses and capital expenditures that we may incur to grow and expand our operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the development and introduction of new offerings by us or our competitors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•significant cybersecurity breaches, technical difficulties or interruptions in the availability of our platform;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the timing of customer payments and payment defaults by customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•general economic conditions that might harm either our customers' ability or willingness to expand their usage of our platform, delay a prospective customer's purchasing decision or affect customer retention;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•impact of applicable tax laws, rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the impact of new accounting pronouncements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our ability to navigate reputational risks related to the faith-based nature of our business.

Many of these factors are outside of our control, and the occurrence of one or more of them might cause our revenue, operating results and cash flows to vary widely. As such, we believe that quarter-to-quarter comparisons of our revenue, operating results and cash flows might not be an indication of future performance. If our operating or financial results fall below the expectations of investors or analysts, the market price of our Class A common stock could decline, potentially significantly.

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***The market price of our Class A common stock might be volatile or might decline regardless of our operating performance, resulting in substantial losses for investors purchasing shares in this offering.*** 

The initial public offering price of our Class A common stock will be determined through negotiation among us and the underwriters. This price does not necessarily reflect the price at which investors in the market will be willing to buy and sell shares of our Class A common stock following this offering. In addition, the market price of our Class A common stock following this offering is likely to be volatile and could be subject to fluctuations in response to various factors, some of which are beyond our control. These fluctuations could cause you to lose all or part of your investment in our Class A common stock since you might be unable to sell your shares at or above the price you paid in this offering. Factors that could cause fluctuations in the market price of our Class A common stock include the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•price and volume fluctuations in the overall stock market from time to time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•sales of shares of our Class A common stock by us or our stockholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the recruitment or departure of key personnel;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the public's reaction to our press releases, other public announcements and filings with the SEC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•rumors and market speculation involving us or other companies in our industry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•fluctuations in the trading volume of our shares or the size of our public float;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•actual or anticipated changes or fluctuations in our results of operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•actual or anticipated developments in our business, our competitors' businesses or the competitive landscape generally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•failure of securities analysts to maintain coverage of us, changes in actual or future expectations of investors or securities analysts or our failure to meet these estimates or the expectations of investors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•litigation involving us, our industry or both;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•governmental or regulatory actions or audits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•regulatory or legal developments in the United States and other countries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•general economic conditions and trends;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•announcement or expectation of additional financing efforts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•expiration of lock-up agreements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•changes in accounting standards, policies, guidelines, interpretations or principles.

The realization of any of the above risks or any of a broad range of other risks, including those described in this "Risk Factors" section, could have an adverse impact on the market price of our Class A common stock.

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In addition to allocations made to retail investors by the underwriters and through our directed share program, we anticipate that a portion of our Class A common stock offered hereby will, at our request, be offered to retail investors through Fidelity Brokerage Services LLC (Fidelity Retail) and Robinhood Financial, LLC (Robinhood), via their respective online brokerage platforms. Fidelity Retail and Robinhood will act as selling group members for this offering. These platforms are not affiliated with us. There may be risks associated with the use of such platforms that we cannot foresee, including risks related to the technology and operation of such platforms, and the publicity and the use of social media by users of such platforms that we cannot control.

In addition, in the past, following periods of volatility in the overall market and the market price of a particular company's securities, securities class action litigation has often been instituted against these companies. Such litigation, if instituted against us, could result in substantial costs and a diversion of our management's attention and resources.

***The dual-class structure of our common stock may adversely affect the trading market for our Class A common stock.***

Certain stock index providers have excluded companies with multiple classes of shares of common stock from being added to certain stock indices. Accordingly, the dual-class structure of our common stock would make us ineligible for inclusion in indices with such restrictions and, as a result, mutual funds, exchange-traded funds and other investment vehicles that attempt to passively track those indices may not invest in our Class A common stock. In addition, several stockholder advisory firms and large institutional investors have been critical of the use of multi-class structures. Such stockholder advisory firms may publish negative commentary about our corporate governance practices or our capital structure, which may dissuade large institutional investors from purchasing shares of our Class A common stock. These actions could make our Class A common stock less attractive to other investors and may result in a less active trading market for our Class A common stock.

***If securities or industry analysts either do not publish research about us or publish inaccurate or unfavorable research about us, our business or our market, or if they adversely change their recommendations regarding our Class A common stock, the market price or trading volume of our Class A common stock could decline.*** 

The trading market for our Class A common stock will be influenced in part by the research and reports that securities or industry analysts may publish about us, our business, our market or our competitors. If one or more securities analysts initiate research with an unfavorable rating or downgrade our Class A common stock, provide a more favorable recommendation about our competitors or publish inaccurate or unfavorable research about our business, our Class A common stock price would likely decline. If few securities analysts commence coverage of us, or if one or more of these analysts cease coverage of us or fail to publish reports on us regularly, we could lose visibility in the financial markets and demand for our securities could decrease, which in turn could cause the price and trading volume of our Class A common stock to decline.

***We have broad discretion in the use of the net proceeds from this offering and may not use them effectively.*** 

Our management will have broad discretion in the application of the net proceeds from this offering, including for any of the purposes described in the section titled "Use of Proceeds," and you will not have the opportunity as part of your investment decision to assess whether the net proceeds are being used appropriately. Because of the number and variability of factors that will determine our use of the net proceeds from this offering, their ultimate use may vary substantially from their currently intended use. The failure by our management to apply these proceeds effectively could adversely affect our business, financial condition and results of operations. Pending their use, we may invest our net proceeds in a manner that does not produce income or that loses value. Our investments may not yield a favorable return to our investors and may negatively impact the price of our common stock.

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***A significant portion of our total outstanding shares after this offering will be restricted from immediate resale but may be sold into the market in the near future, which could cause the market price of our Class A common stock to decline significantly, even if our business is doing well.***

The market price of our Class A common stock could decline as a result of sales of a large number of shares of our Class A common stock in the market after this offering, including upon the conversion of a substantial number of shares of our Class B common stock, or the perception that these sales may occur.

Our directors and officers and certain holders of our equity securities have entered into or will enter into lock-up agreements with the underwriters under which they have agreed or will agree, subject to specific exceptions described in the section titled "Underwriting," not to sell or dispose of any of our stock for 180 days following the date of this prospectus. We refer to such period as the lock-up period. We and the underwriters may release certain stockholders from the lock-up agreements prior to the end of the lock-up period. As a result of these lock-up agreements and subject to the provisions of Rule 144 or Rule 701 under the Securities Act of 1933, as amended (the Securities Act), the shares of our Class A common stock will be available for sale in the public market following the completion of this offering as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•beginning on the date of this prospectus, all shares of our Class A common stock sold in this offering will be immediately available for sale in the public market; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•beginning 181 days after the date of this prospectus, subject to the terms of the lock-up agreements described above, the remainder of the shares of our Class A common stock will be eligible for sale in the public market, subject in some cases to the volume and other restrictions of Rule 144.

Sales of our Class A common stock as restrictions end may make it more difficult for us to sell equity securities in the future at a time and at a price that we deem appropriate. These sales also could cause the market price of our Class A common stock to fall and make it more difficult for you to sell shares of our Class A common stock at a time and price that you deem appropriate.

***Our issuance of additional capital stock in connection with financings, acquisitions, investments, our equity incentive plans or otherwise will dilute all other stockholders.***

We expect to issue additional capital stock in the future that will result in dilution to all other stockholders. We expect to grant equity awards to employees, directors and consultants under our equity incentive plans. We may also raise capital through equity financings in the future. If we acquire or make investments in complementary companies, products or technologies, we may issue equity securities to pay for any such acquisition or investment. Any such issuances of additional capital stock may cause stockholders to experience significant dilution of their ownership interests and the per share value of our Class A common stock to decline.

***We do not intend to pay dividends on our Class A common stock for the foreseeable future.***

We currently intend to retain all available funds and any future earnings to fund the development and growth of our businesses. As a result, we do not anticipate declaring or paying any cash dividends on our Class A common stock in the foreseeable future. As a result, stockholders must rely on appreciation in the price of our Class A common stock for a return on their investment. Any decision to declare and pay dividends in the future will be made at the discretion of our board of directors and will depend on, among other things, our business prospects, results of operations, financial condition, cash requirements and availability, industry trends and other factors that our board of directors may deem relevant. Any such decision also will be subject to compliance with contractual restrictions and covenants in the agreements governing our current indebtedness. In addition, our ability to pay dividends may be restricted by the terms of any future incurrence of debt.

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***Delaware law and provisions in our certificate of incorporation and bylaws might delay, discourage or prevent a change in control of our company or changes in our management, thereby depressing the market price of our Class A common stock.***

Our status as a Delaware corporation and the anti-takeover provisions of the Delaware General Corporation Law (DGCL), may discourage, delay or prevent a change in control by prohibiting us from engaging in a business combination with an interested stockholder for a period of three years after the date of the transaction in which the person became an interested stockholder, even if a change of control would be beneficial to our existing stockholders. In addition, our certificate of incorporation and bylaws that will be in effect upon the completion of this offering will contain provisions that may make the acquisition of our company more difficult or delay or prevent changes in control of our management. Among other things, these provisions will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•provide for a dual class common stock structure, with differing voting rights;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•permit our board of directors to issue shares of preferred stock, with any powers, rights, preferences and privileges as they may designate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•provide that the authorized number of directors may be changed only by resolution of the board of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•divide our board of directors into three classes, each of which stands for election once every three years;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•for so long as our board of directors is classified, and subject to the rights of holders of our preferred stock, provide that a director may only be removed from the board of directors by the stockholders for cause;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•require that any action to be taken by our stockholders must be effected at a duly called annual or special meeting of stockholders and not be taken by written consent, provided that at any time that a holder of shares of Class B common stock has voting control over at least a majority of the voting power of our outstanding shares of capital stock, any action required or permitted to be taken by our stockholders may be taken by written consent in accordance with the DGCL as long as our board of directors has first recommended or approved such action or our board of directors and secretary have been provided with at least 30 days' prior written notice of such action;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•provide that stockholders seeking to present proposals before a meeting of stockholders or to nominate candidates for election as directors at a meeting of stockholders must provide notice in writing in a timely manner, and also meet specific requirements as to the form and content of a stockholder's notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•not provide for cumulative voting rights (therefore allowing the holders of a plurality of the shares of common stock entitled to vote in any election of directors to elect all of the directors standing for election, if they should so choose); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•provide that special meetings of our stockholders may be called only by our board of directors, the chairperson of our board of directors, our chief executive officer or president, or a holder of shares of Class B common stock that has voting control over at least a majority of the voting power of our outstanding shares of capital stock. <br>

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These provisions, alone or together, could delay, discourage or prevent a transaction involving a change in control of our company. These provisions could also discourage proxy contests and make it more difficult for stockholders to elect directors of their choosing and to cause us to take other corporate actions they desire, any of which, under certain circumstances, could limit the opportunity for our stockholders to receive a premium for their shares of our Class A common stock, and could also affect the price that some investors are willing to pay for our Class A common stock.

***Our bylaws will designate a state or federal court located within the State of Delaware as the exclusive forum for substantially all disputes between us and our stockholders, and also provide that the federal district courts will be the exclusive forum for resolving any complaint asserting a cause of action arising under the Securities Act, each of which could limit our stockholders' ability to choose the judicial forum for disputes with us or our directors, officers, stockholders or employees.*** 

Section 22 of the Securities Act establishes concurrent jurisdiction for federal and state courts over Securities Act claims. Accordingly, both state and federal courts have jurisdiction to hear such claims. To prevent having to litigate claims in multiple jurisdictions and the threat of inconsistent or contrary rulings by different courts, among other considerations, our bylaws will also provide that, unless we consent in writing to the selection of an alternative forum, the federal district courts of the United States will be the sole and exclusive forum for resolving any complaint asserting a cause of action arising under the Securities Act.

Any person or entity purchasing, holding or otherwise acquiring any interest in any of our securities shall be deemed to have notice of and consented to the foregoing bylaw provisions. Although we believe these exclusive forum provisions benefit us by providing increased consistency in the application of Delaware law and federal securities laws in the types of lawsuits to which each applies, the exclusive forum provisions may limit a stockholder's ability to bring a claim in a judicial forum of its choosing for disputes with us or our current or former directors, officers, stockholders or other employees, which may discourage such lawsuits against us and our current and former directors, officers, stockholders and other employees. Our stockholders will not be deemed to have waived our compliance with the federal securities laws and the rules and regulations thereunder as a result of our exclusive forum provisions.

Further, the enforceability of similar exclusive forum provisions in other companies' organizational documents has been challenged in legal proceedings, and it is possible that a court of law could rule that these types of provisions are inapplicable or unenforceable if they are challenged in a proceeding or otherwise. If a court were to find either exclusive forum provision contained in our bylaws to be inapplicable or unenforceable in an action, we may incur significant additional costs associated with resolving such dispute, as well as resolving such action in other jurisdictions, all of which could harm our results of operations.

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**SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS**

This prospectus contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements contained in this prospectus include statements about:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our future financial performance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our ability to scale our platform, manage our growth and expand our operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•anticipated trends in our business and the faith and flourishing ecosystem;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our future acquisitions and investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our ability to continue as a going concern;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our ability to remediate material weaknesses in our internal control over financial reporting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our ability to raise additional capital;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our ability to retain and expand our customer base;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our ability to remain competitive;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our ability to develop new products and enhance our platform;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our ability to retain our senior management team and attract talented employees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our expectations of the performance, capabilities and attractiveness to our customers of our AI offerings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our ability to maintain and enhance our brand;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•general economic conditions and their impact on customer demand and charitable donations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our ability to defend against claims, lawsuits, investigations, litigation and other proceedings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our ability to comply with laws and regulations that currently apply or become applicable to our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our expectations regarding our ability to obtain, maintain, enforce, defend and enhance our intellectual property rights; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our anticipated use of the proceeds from this offering.

We caution you that the foregoing list may not contain all of the forward-looking statements made in this prospectus.

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You should not rely upon forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this prospectus primarily on our current expectations and projections about future events and trends that we believe may affect our business, results of operations, financial condition and prospects. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors, including those described in the section titled "Risk Factors" and elsewhere in this prospectus. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this prospectus. We cannot assure you that the results, events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements.

Neither we nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. Moreover, the forward-looking statements made in this prospectus relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this prospectus to reflect events or circumstances after the date of this prospectus or to reflect new information or the occurrence of unanticipated events, except as required by law. You should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments we may make.

In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this prospectus, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely upon these statements.

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**MARKET, INDUSTRY AND OTHER DATA**

This prospectus contains estimates and information concerning the faith and flourishing ecosystem that are based on various third-party sources, industry publications and reports, none of which were commissioned by us, as well as our own internal information. This information involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates and information. The sources of certain statistical data, estimates and forecasts contained in this prospectus include the following industry publications and reports:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Association of Statisticians of American Religious Bodies, 2020 U.S. Religion Census.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Barna Group, "A New Chapter in Millennial Church Attendance," August 2022.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Cause IQ Database (last accessed July 2025).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Giving Institute, *Giving by Generation: Examining the Shifts in Giving Among Donor Generations* (last updated for 2024).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Grim, B.J. & Grim, M.E., *The Socio-economic Contribution of Religion to American Society: An Empirical Analysis*, Interdisciplinary Journal of Research on Religion (2016).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Grips E-Commerce Analysis Database (last accessed July 2025).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Kentley Insights, *Market Research Report: Churches and Religious Organizations* (2025).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Kim A.H. & Lu V.E., *Harvard Researchers Launch $43M Global Human Flourishing Study*, The Harvard Crimson (2021).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•NGO Base Database (last accessed July 2025).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Smith G.A, Cooperman A., Alper B.A., Mohamed B., Rotolo C., Tevington P., Nortey J., Kallo A., Diamant J., & Fahmy D., *Decline of Christianity in the U.S. Has Slowed, May Have Leveled Off: Findings from the 2023-24 Religious Landscape Study*, Pew Research Center (2025).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Tang, L., *Religious Organizations in the US*, IBISWorld (2024).

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**USE OF PROCEEDS**

We estimate that the net proceeds from this offering will be approximately $87.8 million, based on the assumed initial public offering price of $11.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus, and after deducting underwriting discounts and commissions and estimated offering expenses payable by us. If the underwriters exercise their option to purchase additional shares in full, we estimate that the net proceeds will be approximately $101.8 million, after deducting underwriting discounts and commissions and offering expenses payable by us.

Each $1.00 increase or decrease in the assumed initial public offering price of $11.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus, would increase or decrease, as applicable, the net proceeds to us from this offering by $8.5 million, assuming the number of shares offered by us, as set forth on the cover page of this prospectus, remains the same and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. We may also increase or decrease the number of shares we are offering. Each increase or decrease of 1.0 million shares in the number of shares offered by us would increase or decrease, as applicable, the net proceeds to us from this offering by $10.2 million, assuming that the assumed initial public offering price remains the same and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. We do not expect that a change in the initial public offering price or the number of shares by these amounts would have a material effect on our use of the proceeds from this offering, although it may accelerate the time when we need to seek additional capital.

The principal purposes of this offering are to increase our capitalization and financial flexibility, create a public market for our Class A common stock, facilitate future access to the public equity markets by us, our employees and our stockholders, and increase our visibility in the marketplace. We currently intend to use the net proceeds from this offering for general corporate purposes, including acquisitions and investments in businesses, products, services or technologies, working capital, operating expenses and capital expenditures. However, we do not have agreements or commitments for any such acquisitions or investments at this time.

The expected use of net proceeds from this offering represents our intentions based upon our present plans and business conditions. We cannot predict with certainty all of the particular uses for the proceeds of this offering or the amounts that we will actually spend on the uses set forth above. Because we expect to use the net proceeds from this offering for working capital and other general corporate purposes, our management will have broad discretion over the use of the net proceeds from this offering. The timing and amount of our actual expenditures will be based on many factors, including cash flow from operations and the anticipated growth of our business. As of the date of this prospectus, we intend to invest the net proceeds that are not used as described above in capital-preservation investments, including short-term interest-bearing debt instruments or bank deposits.

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**DIVIDEND POLICY**

We have never declared or paid any cash dividends on our capital stock, and we do not currently intend to pay any cash dividends on our capital stock in the foreseeable future. We currently intend to retain all available funds and any future earnings to support operations and to finance the growth and development of our business. Any future determination to pay dividends will be made at the discretion of our board of directors subject to applicable laws and will depend upon, among other factors that our board of directors may deem relevant, our results of operations, financial condition, contractual restrictions and capital requirements. Our future ability to pay cash dividends on our capital stock may be limited by any existing or future debt instruments or preferred securities.

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**CORPORATE REORGANIZATION**

We currently operate as a Delaware limited liability company under the name Gloo Holdings, LLC. The membership interests of Gloo Holdings, LLC currently consist of common units and Series A preferred units. Gloo Holdings, Inc., which will issue the shares of Class A common stock offered hereby, is currently a direct, wholly owned subsidiary of Gloo Holdings, LLC and was formed to complete the Corporate Reorganization and the offering being made hereby.

Immediately prior to the completion of this offering, we will complete the following transactions, which we refer to throughout this prospectus as the "Corporate Reorganization":

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Gloo Holdings, Inc. will form a Delaware limited liability company as a wholly owned subsidiary (Merger Sub).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Merger Sub will merge with and into Gloo Holdings, LLC, with Gloo Holdings, LLC surviving the merger as a wholly owned subsidiary of Gloo Holdings, Inc., which will become a holding company for all of our operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•In the merger of Merger Sub with and into Gloo Holdings, LLC, members of Gloo Holdings, LLC will receive one share of Class B common stock of Gloo Holdings, Inc. for every three units that they hold in Gloo Holdings, LLC, and common unit options and Incentive Units (as defined below) will be exchanged according to the same ratio, taking into account the threshold price with respect to the Incentive Units (which we refer to as the Reverse Split).

oHolders of Gloo Holdings, LLC's outstanding Series A preferred units will receive shares of Gloo Holdings, Inc.'s Class B common stock.

oHolders of Gloo Holdings, LLC's outstanding common units will receive shares of Gloo Holdings, Inc.'s Class B common stock.

oHolders of outstanding incentive unit awards issued by Gloo Incentives, LLC and Gloo Holdings, LLC (collectively, the Incentive Units) will receive shares of restricted Class B common stock. The shares of restricted Class B common stock will be subject to time-based vesting conditions consistent with the vesting conditions of the unvested Incentive Units.

We will take any other steps necessary to reorganize our corporate structure so that Gloo Holdings, Inc., the entity that is offering Class A common stock to the public in this offering, is the holding company for all of our operations, and so that our existing investors immediately prior to the completion of this offering will own shares of Gloo Holdings, Inc.'s Class B common stock rather than membership units in Gloo Holdings, LLC upon the consummation of this offering.

Except as otherwise noted herein, the consolidated financial statements included elsewhere in this prospectus are those of Gloo Holdings, LLC and its consolidated operations. We do not expect that the Corporate Reorganization will have a material effect on the results of our core operations.

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**CAPITALIZATION**

The following table summarizes our cash and cash equivalents, as well as our capitalization, as of July 31, 2025:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•on an actual basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•on a pro forma basis to give effect to (1) the Corporate Reorganization (including the Reverse Split); (2) the Notes Conversion, as if effected on July 31, 2025, resulting in the issuance of 12,334,340 shares of Class B common stock and excluding additional principal and accrued interest (cash coupon and payment-in-kind) that would have accrued from the date of the most recent balance sheet through November 20, 2025 of $35.4 million, which, if reflected, would have converted into an additional 4,044,619 shares of Class B common stock; and (3) the filing and effectiveness of our amended and restated certificate of incorporation, each of which will occur prior to the closing of this offering; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•on a pro forma as adjusted basis to reflect (1) the pro forma adjustments set forth above, and (2) the issuance and sale by us of 9,100,000 shares of Class A common stock in this offering at the assumed initial public offering price of $11.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us.

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The pro forma as adjusted information set forth in the table below is illustrative only and will be adjusted based on the actual initial public offering price and other terms of this offering determined at pricing. You should read this table together with our consolidated financial statements and the related notes included elsewhere in this prospectus and the sections titled "Corporate Reorganization," "Unaudited Pro Forma Consolidated Financial Information," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Description of Capital Stock."

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| | | | |
|:---|:---|:---|:---|
|  | **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** |
|  | **Actual** | **Pro Forma** | **Pro Forma,** |
|  |  |  | **As Adjusted** |
|  | **(in thousands, except unit/share and per unit/share data)** | **(in thousands, except unit/share and per unit/share data)** | **(in thousands, except unit/share and per unit/share data)** |
| Cash and cash equivalents | $22589 | $22589 | $111987 |
| Debt, current and non-current | 130499 | 29015 | 29015 |
| Mezzanine equity: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A preferred units, no par value, 117,751,845 units authorized, 115,431,806 issued, and 115,368,634 outstanding, actual; and no units authorized, issued or outstanding, pro forma and pro forma as adjusted⁽¹⁾ | 360063 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Redeemable NCI | 3383 | 3383 | 3383 |
| Members'/stockholders' equity (deficit): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock, par value $0.001 per share, no shares authorized, issued or outstanding, actual; and 100,000,000 shares authorized and no shares issued or outstanding, pro forma and pro forma as adjusted |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock, par value $0.001 per share, 1,000 shares authorized, 1 share issued and outstanding, actual; and no shares authorized and no shares issued or outstanding, pro forma and pro forma as adjusted |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A common stock, par value $0.001 per share, no shares authorized, issued or outstanding, actual; 5,000,000,000 shares authorized and no shares issued or outstanding, pro forma; and 5,000,000,000 shares authorized, 9,100,000 shares issued and outstanding, pro forma as adjusted |  |  | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class B common stock, par value $0.001 per share, no shares authorized, issued or outstanding, actual; 100,000,000 and shares authorized, 59,638,380 shares issued, and 59,007,575 shares outstanding, pro forma and pro forma as adjusted⁽²⁾ |  | 59 | 59 |
| &nbsp;&nbsp;&nbsp;&nbsp;Common member units, no par value, 39,667,849 units authorized, 24,651,074 issued and outstanding, actual; and no units authorized, issued, or outstanding, pro forma and pro forma as adjusted |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 36134 | 535673 | 623485 |
| &nbsp;&nbsp;&nbsp;&nbsp;Treasury stock |  | (380) | (380) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (438063) | (445605) | (445605) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income | 262 | 262 | 262 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity (deficit) attributable to common members/stockholders | (401667) | 90009 | 177830 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity attributable to noncontrolling interests | 19422 | 19422 | 19422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total members'/stockholders' equity (deficit) | (382245) | 109431 | 197252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total capitalization | $111700 | $141829 | $229650 |

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(1)The actual number of Series A preferred units issued and outstanding exclude 63,172 units held by consolidated subsidiaries of the Company as of July 31, 2025. These units are not considered outstanding in accordance with U.S. GAAP.

(2)The pro forma and pro forma as adjusted shares of Class B common stock outstanding exclude (i) 21,057 shares issued to our consolidated subsidiaries in exchange for 63,172 Series A preferred units, which represent intra-entity holdings eliminated in consolidation, (ii) 609,749 shares of restricted Class B common stock issued to holders of unvested Incentive Units, and (iii) an additional 4,044,619 shares of Class B common stock that would have been issued to convert an additional $35.4 million of principal and accrued interest (cash coupon and payment-in-kind) that would have been recognized from the date of the most recent balance sheet through November 20, 2025. Shares of restricted Class B common stock will be subject to forfeiture and transfer restrictions until the original time-based vesting conditions of the unvested Incentive Units are satisfied. Accordingly, the aforementioned shares are not considered outstanding in accordance with U.S. GAAP and have been excluded.

Each $1.00 increase or decrease in the assumed initial public offering price of $11.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus, would increase or decrease, as applicable, the amount of our pro forma as adjusted cash and cash equivalents, additional paid-in capital, total stockholders' equity and total capitalization by approximately $8.5 million, assuming that the number of shares offered by us, as set forth on the cover page of this prospectus, remains the same, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. Similarly, each increase or decrease of 1.0 million in the number of shares offered by us would increase or decrease, as applicable, each of our cash and cash equivalents, additional paid-in capital, total stockholders' equity and total capitalization

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by approximately $10.2 million, assuming that the assumed initial public offering price remains the same, and after deducting the underwriting discounts and commissions and estimated offering expenses payable by us. The pro forma as adjusted information discussed above is illustrative only and will adjust based on the actual initial public offering price and other terms of this offering determined at pricing. <br>

If the underwriters' option to purchase additional shares is exercised in full, pro forma as adjusted cash and cash equivalents, additional paid-in capital, total stockholders' equity and total capitalization and shares outstanding as of July 31, 2025 would be $126.0 million, $637.4 million, $211.2 million, $243.6 million, and 69,472,576 shares, respectively.

The pro forma and pro forma as adjusted columns in the table above are based on 9,100,000 shares of our Class A common stock and 63,682,999 shares of our Class B common stock outstanding as of July 31, 2025 (after giving effect to the Corporate Reorganization, including the Reverse Split, and the Notes Conversion), and exclude the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•4,044,619 additional shares of Class B common stock that would have been issued to convert an additional $35.4 million of principal and accrued interest (cash coupon and payment-in-kind) of A&R Senior Secured Notes, which would have been recognized from the date of the most recent balance sheet through November 20, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•21,057 shares of Class B common stock issued to our consolidated subsidiaries in exchange for 63,172 Series A preferred units held by those consolidated subsidiaries prior to the Corporate Reorganization that are not considered outstanding in accordance with U.S. GAAP;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•609,748 shares of restricted Class B common stock issued to holders of unvested Incentive Units, which will be subject to forfeiture and transfer restrictions until the original time-based vesting conditions of the unvested Incentive Units are satisfied, that are not considered outstanding in accordance with U.S. GAAP;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•4,756,392 shares of our Class B common stock issuable upon the exercise of outstanding options under the 2014 Plan, as of July 31, 2025, with a weighted-average exercise price of $13.83 per share, based on a three-for-one common unit-to-Class B common stock share exchange ratio as part of the Corporate Reorganization and which does not take into account the Option Repricing; <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•199,999 shares of Class B common stock issuable upon the exercise of warrants outstanding as of July 31, 2025, with a weighted-average exercise price of $18.00 per share, based on a three-for-one warrant-to-Class B common stock share exchange ratio as part of the Corporate Reorganization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•13,357,842 shares of Class A common stock reserved for future issuance under the 2025 Plan, which will become effective on the business day immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part;

othe shares reserved for future issuance under the 2025 Plan include 6,671,297 shares of Class A common stock (based on an assumed initial public offering price of $11.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus) issuable upon the exercise of stock options which we intend to grant in connection with this offering, including to holders of Incentive Units as well as certain other employees and non-employee directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•500,000 shares of Class A common stock reserved for future issuance under the ESPP, which will become effective on the business day immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•197,663 shares of Class B common stock issuable upon the exchange of 592,991 exchangeable shares of one of our wholly owned subsidiaries as of July 31, 2025, based on a three-for-one exchangeable share-to-Class B common stock share exchange ratio as part of the Corporate Reorganization; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•346,244 shares of Class A common stock that we expect to issue in connection with the closing of our pending acquisition of XRI Global.

The 2025 Plan and the ESPP each provide for annual automatic increases in the number of shares of our Class A common stock reserved thereunder, and the 2025 Plan also provides for increases to the number of shares of our Class A common stock that may be granted thereunder based on shares subject to options granted under the 2014 Plan that expire, are tendered to or withheld by us for payment of an exercise price or for satisfying tax withholding obligations, or are forfeited or are repurchased by us, as more fully described in the section titled "Executive Compensation—Employee Benefit and Stock Plans."

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**DILUTION**

If you invest in our Class A common stock in this offering, your ownership interest will be diluted to the extent of the difference between the initial public offering price per share of our Class A common stock and the pro forma as adjusted net tangible book value per share of our Class A common stock immediately after this offering. Net tangible book value dilution per share to investors participating in this offering represents the difference between the amount per share paid by purchasers of shares of our Class A common stock in this offering and the pro forma as adjusted net tangible book value per share of our common stock immediately after this offering.

Net tangible book value (deficit) per share is determined by dividing our total tangible assets less our total liabilities by the number of shares of our common stock outstanding. Our historical net tangible book value (deficit) as of July 31, 2025, after giving effect to the Reverse Split, was $(126.0) million, or $(15.34) per share. After giving effect to the Corporate Reorganization (including the Reverse Split) and the Notes Conversion, our pro forma net tangible book value as of July 31, 2025 was $5.6 million, or $0.09 per share, based on the total number of shares of our Class A common stock and Class B common stock outstanding as of July 31, 2025.

After giving effect to the sale by us of 9,100,000 shares of our Class A common stock in this offering at the assumed initial public offering price of $11.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us our pro forma as adjusted net tangible book value to give effect to this offering as of July 31, 2025 would have been $93.4 million, or $1.37 per share. This represents an immediate increase in pro forma net tangible book value of $1.28 per share to our existing stockholders and an immediate dilution in pro forma as adjusted net tangible book value of $9.63 per share to investors purchasing shares of our Class A common stock in this offering at the assumed initial public offering price. The following table illustrates this dilution:

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| | | |
|:---|:---|:---|
| Assumed initial public offering price per share |  | $11.00 |
| &nbsp;&nbsp;Historical net tangible book value (deficit) per share as of July 31, 2025 | $(15.34) |  |
| &nbsp;&nbsp;Pro forma increase in net tangible book value per share as of July 31, 2025 | 15.43 |  |
| &nbsp;&nbsp;Pro forma net tangible book value per share as of July 31, 2025 | 0.09 |  |
| &nbsp;&nbsp;Increase in pro forma net tangible book value per share attributable to<br> investors purchasing shares of Class A common stock in this offering | 1.28 |  |
| Pro forma as adjusted net tangible book value per share immediately<br> after this offering |  | 1.37 |
| Dilution in pro forma as adjusted net tangible book value per share to<br> investors in this offering |  | $9.63 |

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Each $1.00 increase or decrease in the assumed initial public offering price of $11.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus, would increase or decrease, as applicable, our pro forma as adjusted net tangible book value per share immediately after this offering by approximately $0.12, and would increase or decrease, as applicable, dilution per share to investors purchasing shares of Class A common stock in this offering by $0.88, assuming that the number of shares offered by us, as set forth on the cover page of this prospectus, remains the same and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. Similarly, each increase or decrease of 1.0 million shares in the number of shares of our Class A common stock offered by us would increase or decrease, as applicable, our pro forma as adjusted net tangible book value immediately after this offering by approximately $0.13 per share and increase or decrease, as applicable, the dilution to investors purchasing shares of Class A common stock in this offering by $0.13 per share, assuming the assumed initial public offering price remains the same, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us.

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If the underwriters exercise their option in full to purchase 1,365,000 additional shares of Class A common stock in this offering, the pro forma as adjusted net tangible book value per share after the offering would be $1.55 per share, the increase in the pro forma net tangible book value per share to existing stockholders would be $0.18 per share and the pro forma as adjusted dilution to investors purchasing Class A common stock in this offering would be $9.45 per share.

The following table presents as of July 31, 2025, on a pro forma as adjusted basis to give effect to this offering and the Notes Conversion, as if such conversion had occurred on July 31, 2025 (exclusive of an additional 4,044,619 shares of Class B common stock that would have been issued to convert an additional $35.4 million of principal and accrued interest recognized from the date of the most recent balance sheet through November 20, 2025), the differences between the existing stockholders and the investors purchasing shares of our Class A common stock in this offering with respect to the number of shares purchased from us, the total consideration paid or to be paid to us and the average price per share paid or to be paid to us at the assumed initial public offering price of $11.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus, before deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Shares Purchased** | **Shares Purchased** | **Total Consideration** | **Total Consideration** | **Average** |
|  | **Number** | **Percent** | **Amount** | **Percent** | **Price Per<br>Share** |
| Existing stockholders before this<br> offering | 59007575 | 87% | $431854 | 81% | $7.32 |
| Investors participating in this offering | 9100000 | 13% | 100100 | 19% | 11.00 |
| &nbsp;&nbsp;Total | 68107575 | 100% | $531954 | 100% | $7.81 |

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Each $1.00 increase or decrease in the assumed initial public offering price of $11.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus, would increase or decrease, as applicable, the total consideration paid by investors participating in this offering and the total consideration paid by all stockholders by approximately $9.1 million, assuming that the number of shares offered by us, as set forth on the cover page of this prospectus, remains the same and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. Similarly, each increase or decrease of 1.0 million in the number of shares offered by us would increase or decrease, as applicable, total consideration paid by investors participating in this offering and total consideration paid by all stockholders, by approximately $10.2 million, assuming that the assumed initial public offering price remains the same, and after deducting the underwriting discounts and commissions and estimated offering expenses payable by us.

The table above assumes no exercise of the underwriters' option to purchase 1,365,000 additional shares in this offering. If the underwriters' option to purchase additional shares is exercised in full, the total number of shares of our common stock held by existing stockholders would be reduced to 84.9% of the total number of shares of our common stock outstanding after this offering, and the total number of shares of common stock held by investors purchasing shares of Class A common stock in the offering would be increased to 15.1% of the total number of shares outstanding after this offering.

The pro forma and pro forma as adjusted columns in the table above are based on 9,100,000 shares of our Class A common stock and 63,682,999 shares of our Class B common stock outstanding as of July 31, 2025 (after giving effect to the Corporate Reorganization, including the Reverse Split, and the Notes Conversion), and exclude the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•4,044,619 additional shares of Class B common stock that would have been issued to convert an additional $35.4 million of principal and accrued interest (cash coupon and payment-in-kind) of A&R Senior Secured Notes, which would have been recognized from the date of the most recent balance sheet through November 20, 2025;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•21,057 shares of Class B common stock issued to our consolidated subsidiaries in exchange for 63,172 Series A preferred units held by those consolidated subsidiaries prior to the Corporate Reorganization that are not considered outstanding in accordance with U.S. GAAP;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•609,749 shares of restricted Class B common stock issued to holders of unvested Incentive Units, which will be subject to forfeiture and transfer restrictions until the original time-based vesting conditions of the unvested Incentive Units are satisfied, that are not considered outstanding in accordance with U.S. GAAP;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•4,756,392 shares of our Class B common stock issuable upon the exercise of outstanding options under the 2014 Plan as of July 31, 2025 with a weighted-average exercise price of $13.83 per share, based on a three-for-one common unit-to-Class B common stock share exchange ratio as part of the Corporate Reorganization and which does not take into account the Option Repricing; <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•199,999 shares of Class B common stock issuable upon the exercise of warrants outstanding as of July 31, 2025, with a weighted-average exercise price of $18.00 per share, based on a three-for-one warrant-to-Class B common stock share exchange ratio as part of the Corporate Reorganization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•13,357,842 shares of Class A common stock reserved for future issuance under the 2025 Plan, which will become effective on the business day immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part;

othe shares reserved for future issuance under the 2025 Plan include 6,671,297 shares of Class A common stock (based on an assumed initial public offering price of $11.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus) issuable upon the exercise of stock options which we intend to grant in connection with this offering, including to holders of Incentive Units as well as certain other employees and non-employee directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•500,000 shares of Class A common stock reserved for future issuance under the ESPP, which will become effective on the business day immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•197,663 shares of Class B common stock issuable upon the exchange of 592,991 exchangeable shares of one of our wholly owned subsidiaries as of July 31, 2025, based on a three-for-one exchangeable share-to-Class B common stock share exchange ratio as part of the Corporate Reorganization; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•346,244 shares of Class A common stock that we expect to issue in connection with the closing of our pending acquisition of XRI Global.

The 2025 Plan and the ESPP each provide for annual automatic increases in the number of shares of our Class A common stock reserved thereunder, and the 2025 Plan also provides for increases to the number of shares of our Class A common stock that may be granted thereunder based on shares subject to options granted under the 2014 Plan that expire, are tendered to or withheld by us for payment of an exercise price or for satisfying tax withholding obligations, or are forfeited or are repurchased by us, as more fully described in the section titled "Executive Compensation—Employee Benefit and Stock Plans."

To the extent that any outstanding options to purchase our common stock are exercised or new awards are granted under our equity compensation plans, or additional shares of our common stock are issued, there will be further dilution to investors participating in this offering.

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**UNAUDITED PRO FORMA CONSOLIDATED FINANCIAL INFORMATION**

The following unaudited pro forma consolidated financial information presents the historical financial information of Gloo Holdings, LLC, which will become a wholly owned subsidiary of Gloo Holdings, Inc. (collectively, the Company) pursuant to the Corporate Reorganization, and the historical financial information of Midwestern Interactive, LLC (Midwestern), adjusted to give pro forma effect principally to the following events and transactions (collectively, the Transactions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the acquisition of Midwestern by the Company on June 11, 2025 (the Midwestern Acquisition);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the Corporate Reorganization, including the Reverse Split (see the section titled "Corporate Reorganization");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the Notes Conversion, which represents the automatic conversion of the Company's A&R Senior Secured Notes (Senior Secured Convertible Notes) at a conversion price per share equal to the lesser of (1) 80.0% of the Company's assumed initial public offering price of $11.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus, and (2) $30.00, as if effected on July 31, 2025, resulting in the issuance of 12,334,340 shares of Class B common stock and excluding additional principal and accrued interest (cash coupon and payment-in-kind) that would have been recognized from the date of the most recent balance sheet through November 20, 2025 of $35.4 million, which, if reflected, would have converted into an additional 4,044,619 shares of Class B common stock (see the sections titled "The Offering" and "Management's Discussion and Analysis of Financial Condition and Results of Operations—Sources and Uses of Funds"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the issuance and sale by the Company of 9,100,000 shares of Class A common stock in this offering at the assumed initial public offering price of $11.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by the Company (the Offering).

The unaudited pro forma condensed consolidated balance sheet as of July 31, 2025 presents the historical unaudited condensed consolidated balance sheet of the Company as of July 31, 2025, on a pro forma basis adjusted to give effect to the Corporate Reorganization, including the Reverse Split, Notes Conversion, and Offering as if these events had occurred on July 31, 2025. The unaudited pro forma condensed consolidated balance sheet as of July 31, 2025 does not give effect to the Midwestern Acquisition because this event is reflected in the historical unaudited condensed consolidated balance sheet of the Company as of July 31, 2025.

The unaudited pro forma condensed consolidated statement of operations for the six months ended July 31, 2025 combines the historical unaudited condensed consolidated statement of operations of the Company for the six months ended July 31, 2025 and the historical unaudited statement of operations of Midwestern for the period from February 1, 2025 through May 31, 2025, on a pro forma basis adjusted to give effect to the Transactions as if they had occurred on February 1, 2024, the first day of the Company's most recently completed fiscal year.

The unaudited pro forma consolidated statement of operations for the year ended January 31, 2025 combines the historical audited consolidated statement of operations of the Company for the year ended January 31, 2025 and the historical audited statement of operations of Midwestern for the year ended December 31, 2024 on a pro forma basis adjusted to give effect to the Transactions as if they had occurred on February 1, 2024, the first day of the Company's most recently completed fiscal year.

The pro forma adjustments are based upon available information and certain assumptions that management believes are reasonable in order to present the historical audited financial information of the Company and Midwestern adjusted to give pro forma effect to the Transactions. The unaudited pro forma consolidated financial information has been prepared pursuant to Article 11 of Regulation S-X. The pro forma adjustments and their underlying assumptions are described more fully in the notes hereto. The unaudited pro forma consolidated financial information is presented for informational purposes only and is not intended to represent or be indicative of the results of operations or financial position that would have occurred had the Transactions taken place on the dates

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indicated, or that may be expected to occur in the future. The actual results may differ materially from those presented herein due to a variety of factors, including the finalization of the estimated purchase price, preliminary purchase price allocation, market conditions and integration outcomes.

The unaudited pro forma consolidated financial information does not give effect to any cost savings, operating synergies, revenue enhancements or integration expenses that the combined company may achieve as a result of the Midwestern Acquisition, costs necessary to achieve such measures or costs to integrate the operations of the combined company.

See the sections titled "The Offering," "Risk Factors," "Corporate Reorganization," and "Management's Discussion and Analysis of Financial Condition and Results of Operations;" the historical consolidated financial statements and related notes of Gloo Holdings, LLC as of and for the year ended January 31, 2025; the historical unaudited consolidated financial statements and related notes of Gloo Holdings, LLC as of and for the six months ended July 31, 2025; and the historical consolidated financial statements and related notes of Midwestern as of and for the year ended December 31, 2024, included elsewhere in this prospectus.

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Unaudited Pro Forma Condensed Consolidated Balance Sheet as of July 31, 2025

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Historical | Adjustments | Pro Forma | Adjustments | Pro Forma |
| *(in thousands, except unit/stock data)* | Gloo | Corporate<br>Reorganization<br>and Notes Conversion | Gloo, Prior to<br>the Offering | Offering | Gloo, As<br>Adjusted for the<br>Transactions |
| ASSETS |  |  |  |  |  |
| Current assets: |  |  |  |  |  |
| &nbsp;&nbsp;Cash and cash equivalents | 22589 |  | 22589 | 93093<br> (h) | 111987 |
|  |  |  |  | (901) (h) |  |
|  |  |  |  | (2794) (h) |  |
| &nbsp;&nbsp;Restricted cash | 254 |  | 254 |  | 254 |
| &nbsp;&nbsp;Accounts receivable, net of allowance for credit losses of $33 | 6050 |  | 6050 |  | 6050 |
| &nbsp;&nbsp;Inventory, net | 1248 |  | 1248 |  | 1248 |
| &nbsp;&nbsp;Contract assets | 3098 |  | 3098 |  | 3098 |
| &nbsp;&nbsp;Prepaid expenses and other current assets | 6582 |  | 6582 | (2478) (h) | 4104 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 39821 |  | 39821 | 86920 | 126741 |
| Property and equipment, net | 2634 |  | 2634 |  | 2634 |
| Capitalized software, net | 26717 |  | 26717 |  | 26717 |
| ROU operating lease asset | 6834 |  | 6834 |  | 6834 |
| Long-term investments | 1181 |  | 1181 |  | 1181 |
| Other non-current assets | 1381 | 2455<br> (a) | 3836 |  | 3836 |
| Intangible assets, net | 26951 |  | 26951 |  | 26951 |
| Goodwill | 80278 |  | 80278 |  | 80278 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $185797 | $2455 | $188252 | $86920 | $275172 |
| LIABILITIES, MEZZANINE EQUITY, AND MEMBERS'/STOCKHOLDERS' EQUITY (DEFICIT) |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |
| &nbsp;&nbsp;Accounts payable | 8279 | (28) (a) | 8251 | (901) (h) | 7350 |
| &nbsp;&nbsp;Accrued compensation | 6181 |  | 6181 |  | 6181 |
| &nbsp;&nbsp;Accrued liabilities | 6402 | (960) (g) | 5442 |  | 5442 |
| &nbsp;&nbsp;Acquisition-related liabilities, current | 2522 |  | 2522 |  | 2522 |
| &nbsp;&nbsp;Deferred revenue | 5622 |  | 5622 |  | 5622 |
| &nbsp;&nbsp;Debt, current | 5011 |  | 5011 |  | 5011 |
| &nbsp;&nbsp;Lease liabilities, current | 1187 |  | 1187 |  | 1187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 35204 | (988) | 34216 | (901) | 33315 |
| Acquisition-related liabilities, non-current | 708 |  | 708 |  | 708 |
| Debt, non-current | 125488 | (101484) (g) | 24004 |  | 24004 |
| Lease liabilities, non-current | 5609 |  | 5609 |  | 5609 |
| Derivative liability | 23410 | 9823<br> (f) |  |  |  |
|  |  | (33233) (g) |  |  |  |
| Deferred income taxes | 2675 | (5) (a) | 2670 |  | 2670 |
| Other non-current liabilities | 11502 | (2449) (d) | 8231 |  | 8231 |
|  |  | (822) (d) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 204596 | (129158) | 75438 | (901) | 74537 |
| Mezzanine Equity: |  |  |  |  |  |
| &nbsp;&nbsp;Series A preferred units, no par value | 360063 | (360063) (b) |  |  |  |
| &nbsp;&nbsp;Redeemable NCI | 3383 |  | 3383 |  | 3383 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total mezzanine equity | 363446 | (360063) | 3383 |  | 3383 |
| Members'/stockholders' equity (deficit): |  |  |  |  |  |
| &nbsp;&nbsp;Preferred stock, par value $0.001 |  |  |  |  |  |
| &nbsp;&nbsp;Common stock, par value $0.001 per share |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Class A common stock, par value $0.001 per share |  |  |  | 9<br> (h) | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class B common stock, par value $0.001 per share |  | 39<br> (b) | 59 |  | 59 |
|  |  | 8<br> (c) |  |  |  |
|  |  | 12<br> (g) |  |  |  |
| &nbsp;&nbsp;Common member units, par value $0.001 per share |  |  |  |  |  |
| &nbsp;&nbsp;Additional paid-in capital | 36134 | 360404<br> (b) | 535673 | 93084<br> (h) | 623485 |
|  |  | (8) (c) |  | (5272) (h) |  |
|  |  | 2449<br> (d) |  |  |  |
|  |  | 822<br> (d) |  |  |  |
|  |  | 207<br> (e) |  |  |  |
|  |  | 135665<br> (g) |  |  |  |
| &nbsp;&nbsp;Treasury stock |  | (380) (b) | (380) |  | (380) |
| &nbsp;&nbsp;Accumulated deficit | (438063) | 2488<br> (a) | (445605) |  | (445605) |
|  |  | (207) (e) |  |  |  |
|  |  | (9823) (f) |  |  |  |
| &nbsp;&nbsp;Accumulated other comprehensive income | 262 |  | 262 |  | 262 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deficit attributable to common members/stockholders | (401667) | 491676 | 90009 | 87821 | 177830 |
| Equity attributable to noncontrolling interests | 19422 |  | 19422 |  | 19422 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total members'/stockholders' deficit | (382245) | 491676 | 109431 | 87821 | 197252 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities, mezzanine equity, and members'/stockholders' equity (deficit) | $185797 | $2455 | $188252 | $86920 | $275172 |

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Unaudited Pro Forma Condensed Consolidated Statement of Operations for the Six Months Ended July 31, 2025

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(in thousands, except unit/stock data)* | Gloo | Midwestern, (Note 4) | Midwestern Acquisition | Corporate<br>Reorganization<br>and Notes Conversion | Offering | Gloo, As Adjusted for the Transactions |
| Revenue: |  |  |  |  |  |  |
| &nbsp;&nbsp;Platform revenue | 17241 |  |  |  |  | 17241 |
| &nbsp;&nbsp;Platform solutions revenue | 11234 | 5755 | (1770) (i) |  |  | 15219 |
| &nbsp;&nbsp;Other revenue |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 28475 | 5755 | (1770) |  |  | 32460 |
| Operating expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;Cost of revenue (exclusive of depreciation and amortization) | 20968 | 3741 |  |  |  | 24709 |
| &nbsp;&nbsp;Product development | 10730 |  |  |  |  | 10730 |
| &nbsp;&nbsp;Sales and marketing | 15823 | 129 |  |  |  | 15952 |
| &nbsp;&nbsp;General and administrative | 22206 | 597 | (1115) (i) | (1189) (e) |  | 20499 |
| &nbsp;&nbsp;Depreciation and amortization | 5200 | 30 | 157<br> (j) |  |  | 5387 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 74927 | 4497 | (958) | (1189) |  | 77277 |
| Operating loss | (46452) | 1258 | (812) | 1189 |  | (44817) |
| Other expense (income): |  |  |  |  |  |  |
| &nbsp;&nbsp;Interest expense | 6003 | 74 |  | (4875) (g) |  | 1202 |
| &nbsp;&nbsp;Other expense (income), net | (473) | 2 |  |  |  | (471) |
| &nbsp;&nbsp;Loss (gain) from change in fair value of financial instruments | 11436 |  | (2261) (m) | 330<br> (f) |  | 9505 |
| &nbsp;&nbsp;Loss on extinguishment of debt | 7473 |  |  | (7473) (g) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other expense (income), net | 24439 | 76 | (2261) | (12018) |  | 10236 |
| Net loss before income taxes | (70891) | 1182 | 1449 | 13207 |  | (55053) |
| &nbsp;&nbsp;Income tax (expense) benefit | 293 |  | (553) | 576<br> (a) |  | 316 |
| &nbsp;&nbsp;Income (loss) from equity method investments, net | (460) |  | 281<br> (n) |  |  | (179) |
| Net loss | (71058) | 1182 | 1177 | 13783 |  | (54916) |
| &nbsp;&nbsp;Less: net loss attributable to noncontrolling interests | (1307) |  | 472<br> (p) |  |  | (835) |
| Net loss attributable to common members/stockholders | $(69751) | $1182 | $705 | $13783 | $— | $(54081) |
| Net loss per unit attributable to common members/stockholders, basic | (3.47) |  |  |  |  | (0.91) |
| Net loss per unit attributable to common members/stockholders, diluted | $(3.47) |  |  |  |  | $(0.91) |
| Weighted-average common units used to compute net loss per unit attributable to common members/stockholders, basic and diluted | 24650701 |  |  | 59205114<br> (q) | 9100000<br> (q) | 59205114 |

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Unaudited Pro Forma Consolidated Statement of Operations for the Year Ended January 31, 2025

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Historical | Historical | Adjustments | Adjustments | Adjustments | Pro Forma |
| *(in thousands, except unit/stock data)* | Gloo | Midwestern, (Note 3) | Midwestern Acquisition | Corporate<br>Reorganization<br>and Notes Conversion | Offering | Gloo, As Adjusted for the Transactions |
| Revenue: |  |  |  |  |  |  |
| &nbsp;&nbsp;Platform revenue | 22873 |  |  |  |  | 22873 |
| &nbsp;&nbsp;Platform solutions revenue | 330 | 11975 | (1981) (i) |  |  | 10324 |
| &nbsp;&nbsp;Other revenue | 13 |  |  |  |  | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 23216 | 11975 | (1981) |  |  | 33210 |
| Operating expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;Cost of revenue (exclusive of depreciation and amortization) | 19749 | 8106 |  |  |  | 27855 |
| &nbsp;&nbsp;Product development | 13551 |  |  |  |  | 13551 |
| &nbsp;&nbsp;Sales and marketing | 22619 | 424 |  |  |  | 23043 |
| &nbsp;&nbsp;General and administrative | 15098 | 2317 | (1248) (i) | 1395<br> (e) |  | 17631 |
|  |  |  | 69<br> (k) |  |  |  |
| &nbsp;&nbsp;Depreciation and amortization | 7714 | 93 | 472<br> (j) |  |  | 8279 |
| &nbsp;&nbsp;Impairment of goodwill | 27753 |  |  |  |  | 27753 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 106484 | 10940 | (707) | 1395 |  | 118112 |
| Operating loss | (83268) | 1035 | (1274) | (1395) |  | (84902) |
| Other expense (income): |  |  |  |  |  |  |
| &nbsp;&nbsp;Interest expense | 4738 | 306 | 729<br> (l) | (3034) (g) |  | 2739 |
| &nbsp;&nbsp;Other expense (income), net | (687) | 41 |  |  |  | (646) |
| &nbsp;&nbsp;Loss (gain) from change in fair value of financial instruments | (1301) |  | 2261<br> (m) | 9493<br> (f) |  | 10453 |
| &nbsp;&nbsp;Loss on extinguishment of debt |  |  |  | 7473<br> (g) |  | 7473 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other expense (income), net | 2750 | 347 | 2990 | 13932 |  | 20019 |
| Net loss before income taxes | (86018) | 688 | (4264) | (15327) |  | (104921) |
| &nbsp;&nbsp;Income tax (expense) benefit | 796 |  | 751 | 1911<br> (a) |  | 3458 |
| &nbsp;&nbsp;Income (loss) from equity method investments, net | (580) |  |  |  |  | (580) |
| Net loss | (85802) | 688 | (3513) | (13416) |  | (102043) |
| &nbsp;&nbsp;Less: net loss attributable to noncontrolling interests | (113) |  | (565) (p) |  |  | (678) |
| Net loss attributable to common members | $(85689) | $688 | $(2948) | $(13416) | $— | $(101365) |
| Net loss per unit attributable to common members/stockholders, basic and diluted | $(4.55) |  |  |  |  | $(1.74) |
| Weighted-average common units used to compute net loss per unit attributable to common members/stockholders, basic and diluted | 23293429 |  |  | 58752690<br> (q) | 9100000<br> (q) | 58752690 |

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**1.** **Basis of Presentation**

This unaudited pro forma consolidated financial information has been prepared in accordance with the requirements of Article 11 of Regulation S-X, as amended by SEC Release No. 33-10786 *(Amendments to Financial Disclosures about Acquired and Disposed Businesses)* and, where applicable, reflects the application of the accounting required for the Transactions in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP).

**2.** **Corporate Reorganization**

Immediately prior to the effectiveness of the registration statement, Gloo Holdings, Inc. will form a wholly owned Delaware limited liability company (Merger Sub), and merge Merger Sub with and into Gloo Holdings, LLC, with Gloo Holdings, LLC surviving as a wholly owned subsidiary of Gloo Holdings, Inc. (the Corporate Reorganization). In the merger, each three (3) Series A preferred or common units of Gloo Holdings, LLC will be exchanged for one (1) share of Gloo Holdings, Inc. Class B common stock (the Reverse Split).

Additionally, as part of the Corporate Reorganization, holders of vested and unvested profit units (Incentive Units) will be issued unrestricted and restricted Class B common stock, respectively, taking into account the mechanics of the conversion described herein and the Reverse Split. Restricted Class B common stock will have transfer restrictions and forfeiture provisions, subject to the original time-based vesting conditions of the original underlying Incentive Unit award. The number of shares of Class B common stock issuable for each Incentive Unit award is determined at the award level by first computing the award's equity value as the excess, if any, of the assumed initial public offering price over the award's stated hurdle (threshold) price per unit (as adjusted for the Reverse Split), multiplied by the number of Incentive Units issued as part of the award. That incremental equity value is then divided by the assumed initial public offering price to determine the number of Class B common shares issuable to the holder. If an award does not have any incremental equity value, the award is cancelled with no shares issued. For awards with incremental equity value, the vested portion is issued unrestricted Class B common stock and the unvested portion is issued restricted Class B common stock that remains subject to the original time-based vesting conditions. This determination is made separately for each award and is not netted across awards with different hurdles.

In the merger, holders of Gloo Holdings, LLC Series A preferred units will receive, in the aggregate, 38,477,268 shares of Class B common stock, of which 21,057 shares will be held by consolidated subsidiaries of the Company and excluded in consolidation from the number of Class B common stock issued and outstanding. Holders of Gloo Holdings, LLC common units will receive 8,217,024 Class B common stock. Additionally, at the assumed initial public offering price of $11.00 per share, the Company will issue 609,748 shares of Class B common stock in exchange for 6,470,000 Incentive Units, all of which are unvested as of July 31, 2025. The Company will cancel 1,020,000 Incentive Units, including 660,000 vested Incentive Units, that did not have incremental equity value. All shares of Class B common stock issued in exchange for the Incentive Units are restricted and, therefore, will be subject to transfer restrictions and forfeiture provisions that will remain subject to the original time-based vesting conditions of the underlying awards are satisfied.

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**3.** **Notes Conversion**

On April 23, 2024, the Company entered into a promissory note purchase agreement (the Note Purchase Agreement) authorizing the issuance of up to an aggregate principal amount of $70.0 million in secured promissory notes (the Senior Secured Notes). As additional consideration to the Purchasers for providing the financing, the Company agreed to issue each Purchaser warrants to purchase Series A preferred units at an exercise price of $6.00 per unit (the Warrants). The number of Warrants issued to each Purchaser was equal to 30.0% of the principal amount of the Senior Secured Notes held by such Purchaser. The Warrants are exercisable at any time prior to their expiration of April 23, 2029.

In June 2025, the Company entered into an Amended and Restated Note Purchase Agreement (the A&R NPA) that provided existing holders of the Company's Senior Secured Notes the option to exchange their notes for Senior Secured Convertible Notes, with additional issuances occurring in tranches through October 2025, accruing interest through a combination of coupon and paid-in-kind (PIK) interest. For more information on both the Senior Secured Notes and the Senior Secured Notes Warrants and Senior Secured Convertible Notes see Note 13, *Debt*, in the Company's consolidated financial statements as of and for the six months ended July 31, 2025.

Under the terms of the A&R NPA, immediately prior to the closing of an initial public offering, all outstanding principal and accrued but unpaid interest, including both PIK and unpaid coupon interest, will automatically convert into Class B common stock of Gloo Holdings, Inc. at the lesser of (a) 80.0% of the initial public offering price or (b) $30.00 per share (after giving effect to the Corporate Reorganization described above). As the assumed initial public offering price is $11.00 per share, the Senior Secured Convertible Notes are expected to convert at 80.0% of the IPO price. Upon conversion, holders will receive shares of Class B common stock equal to the value of their outstanding investment, and the notes will be extinguished (the Notes Conversion).

The Senior Secured Convertible Notes contain an embedded derivative feature associated with the variable share-settled redemption provision. In accordance with ASC Topic 815, *Derivatives and Hedging* (ASC 815), this feature was bifurcated from the host debt instrument and measured at fair value, with changes in fair value recognized through earnings. The embedded derivative reflects the 20.0% discount available to holders upon conversion in connection with an IPO when the offering price is below $30.00 per share.

Immediately prior to conversion, the bifurcated embedded derivative should be remeasured to fair value to reflect the impact of the variable share-settled redemption feature introduced under the A&R NPA. Based on the assumed initial public offering price, the Company estimates it would recognize a $9.8 million loss on the embedded derivative immediately prior to the conversion of the Senior Secured Convertible Notes. In addition, a prior $0.3 million mark-to-market gain recognized during the six months ended July 31, 2025 would have been reflected on February 1, 2024. For purposes of the pro forma financial information, both fair value remeasurements have been adjusted to reflect the assumption that the Senior Secured Convertible Notes were converted as of the beginning of the earliest period presented.

The pro forma adjustments include eliminating (i) the $135.7 million in carrying amount of the Senior Secured Convertible Notes. This carrying amount consists of $107.6 million of outstanding principal, $6.1 million of debt discount and issuance costs, $1.0 million of accrued PIK and unpaid cash interest, and $33.2 million of associated embedded derivative liability; (ii) reclassification of $6.1 million loss on extinguishment of debt associated with the Senior Secured Convertible Notes recognized in the historical consolidated financial statements of the Company for the six months ended July 31, 2025; and (iii) elimination of $3.0 million and $4.9 million of interest expense recognized in the historical consolidated financial statements of the Company for the year ended January 31, 2025 and six months ended July 31, 2025, respectively. This extinguishment reflects the Notes Conversion in exchange for 12,334,340 Class B common stock based on the conversion price, which is 80.0% of the IPO price. <br>

**4.** **Midwestern Acquisition**

On January 3, 2025, the Company acquired an 80.0% membership interest in Midwestern in exchange for approximately $31.7 million in purchase consideration. As part of this transaction, the Company entered into a call option agreement with the minority interest holder of Midwestern, granting them the right to repurchase at least 80.0% of the Midwestern units held by the Company at a fixed price (the MW Call Option). The MW Call Option becomes exercisable on the third anniversary of January 3, 2025, or upon a qualifying event, including an initial

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public offering, subject to certain conditions. Upon assessing its relationship with Midwestern, the Company determined that it could not consolidate Midwestern as of January 3, 2025, because the participating rights held by Midwestern's minority interest holder limited the Company from unilaterally controlling Midwestern and it should instead account for Midwestern using the equity method of accounting.

As part of the January 2025 transaction, the Company entered into several financing arrangements, including promissory notes and an installment payment. The Company entered into Promissory Note 1 with a principal amount of $6.5 million and Promissory Note 2 with a principal amount of $2.4 million (collectively, the Promissory Notes). Promissory Note 1 provides for payments in equal monthly installments over approximately two hundred ten months. Promissory Note 2 provides for payments in monthly installments for the first fifty-three months, followed by a balloon payment of the remaining principal balance in month fifty-four. Additionally, the Company entered into an installment payment obligation with a principal amount of $3.2 million (the Installment Payment). The installment payment bears interest at a fixed rate of five percent and matures in January 2027. In conjunction with the issuance of the notes, the Company recognized debt discounts of 52.3%, 79.3% and 97.6% as of the measurement date for Promissory Note 1, Promissory Note 2 and the Installment Payment, respectively.

On June 11, 2025, Midwestern amended its governing documents without additional consideration transferred from the Company. Following these changes to the governance of Midwestern, the Company determined that it had obtained control and should consolidate Midwestern as of June 11, 2025, in accordance with ASC Topic 810, *Consolidation (ASC 810)*. Additionally, the Company recognized a $2.8 million reduction of the MW Call Option's value, reflecting the modification to the original agreement.

The historical financial information has been adjusted to present the Midwestern Acquisition on a pro forma basis, including adjustments to reflect the effect of accounting for Midwestern using the acquisition method of accounting in accordance with ASC Topic 805, *Business Combinations (ASC 805)*. The Company completed the Midwestern Acquisition and has accounted for the transaction as a business combination in accordance with ASC 805, using the acquisition method of accounting, which results in acquired assets and assumed liabilities being measured at their estimated fair values as of the acquisition date, with Goodwill being measured as excess of the consideration transferred over the fair value of net assets acquired.

The total purchase price of the acquisition includes the following (in thousands):

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| | |
|:---|:---|
|  | **Estimated<br>Fair Value** |
|  | **(in thousands)** |
| Cash consideration | $2120 |
| Equity consideration | 8479 |
| Promissory notes to seller | 12045 |
| Fair value of call option | 8792 |
| Initial investment | 31436 |
| Less: reduction in option due to June modification | (2822) |
| &nbsp;&nbsp;Fair value of total consideration transferred | $28614 |

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The estimated purchase price is allocated to the tangible and identifiable intangible assets acquired and liabilities assumed of Midwestern based on their estimated fair values as of the acquisition date, with any excess estimated purchase price transferred allocated to goodwill (in thousands):<br>

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| | |
|:---|:---|
|  | **(in thousands)** |
| Consideration: |  |
| Consideration transferred (June option modification) | $(2822) |
| Identified assets and liabilities: |  |
| Cash and cash equivalents | 1182 |
| Accounts receivable | 241 |
| Prepaid expense and other assets | 343 |
| Fixed assets | 155 |
| Right-of-use assets | 1475 |
| Intangible assets | 6050 |
| Other LT Assets | 6 |
| Accrued liabilities | (407) |
| Lease liabilities | (1475) |
| Notes payable | (717) |
| Total identifiable net assets acquired | 6853 |
| Noncontrolling interest | 7154 |
| Total | 14007 |
| Fair value of previously held equity interest | 31438 |
| Goodwill | $28917 |

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The Company recorded finite-lived intangible assets related to customer relationships and trademarks of $4.6 million and $1.5 million, respectively. Fair value of the customer relationships was determined using the multi-period excess earnings method under the income approach and the fair value of the trademarks was determined using the relief from royalty rate method under the income approach. Acquired intangible assets are amortized over the estimated useful lives on a straight-line basis. The following table summarizes the estimated fair values (in thousands) and estimated useful lives for the identifiable intangible assets acquired as of the acquisition date:

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| | | |
|:---|:---|:---|
|  | **Estimated<br>Useful Life** | **Estimated<br>Fair Value** |
|  |  | **(in thousands)** |
| Customer relationships | 16 years | $4550 |
| Trademarks | 8 years | 1500 |
|  |  | $6050 |

---

**5.** **Reclassification Adjustment** 

As part of the unaudited pro forma condensed consolidated financial information, certain reclassification adjustments were made to conform the presentation of Midwestern, as presented in its historical consolidated financial statements, to that of the Company. These adjustments had no impact on total assets, total liabilities, net equity or net income as historically reported by Midwestern, but were necessary to align financial statement line items with the Company's accounting and financial reporting framework. The reclassifications were applied to both

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the unaudited pro forma consolidated statement of operations for the six months ended July 31, 2025 and for the year ended January 31, 2025.

On the unaudited pro forma consolidated statement of operations for the six months ended July 31, 2025, the following adjustments were made:

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| | | | | |
|:---|:---|:---|:---|:---|
| Gloo<br>Presentation | Midwestern<br>Presentation | Historical<br>Midwestern, As<br>Presented | Notes | Historical Midwestern, As Reclassified |
|  |  | (in thousands) | (in thousands) | (in thousands) |
| Revenue: | Revenue: |  |  |  |
| N/A | Revenue | $5755 | (1) | $— |
| Platform revenue | N/A |  |  |  |
| Platform solutions revenue | N/A |  | (1) | 5755 |
| Other revenue | N/A |  |  |  |
| Total revenue | Total revenue | 5755 |  | 5755 |
| Cost of revenue (exclusive of depreciation and amortization) | Cost of revenue | 3741 |  | 3741 |
| Product development | N/A |  |  |  |
| Sales and marketing | Sales and marketing | 129 |  | 129 |
| General and administrative | General and administrative | 597 |  | 597 |
| Depreciation and amortization | Depreciation | 30 |  | 30 |
| Total operating expenses | Total operating expenses | 4497 |  | 4497 |
| Operating loss | Operating income | 1258 |  | 1258 |
| Other expense (income): | N/A |  |  |  |
| Interest expense | Interest expense | 74 |  | 74 |
| Other expense (income), net | Other expense, net | 2 |  | 2 |
| Loss (gain) from change in fair value of financial instruments | N/A |  |  |  |
| Loss on extinguishment of debt | N/A |  |  |  |
| Total other expense (income), net | N/A | 76 |  | 76 |
| Net loss before income taxes | N/A | 1182 |  | 1182 |
| Income tax (expense) benefit | N/A |  |  |  |
| Income (loss) from equity method investments, net | N/A |  |  |  |
| Net income (loss) | Net income | 1182 |  | 1182 |
| Less: net income (loss) attributable to noncontrolling interests | N/A |  |  |  |
| Net loss attributable to common members | N/A | $1182 | $— | $1182 |

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(1)Allocated $5,754,801 of revenue to 'Platform revenue' in accordance with our accounting classification for comparable revenue generated from similar services.

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On the unaudited pro forma consolidated statement of operations for the year ended January 31, 2025, the following adjustments were made:

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| | | | | |
|:---|:---|:---|:---|:---|
| Gloo<br>Presentation | Midwestern<br>Presentation | Historical<br>Midwestern, As<br>Presented | Notes | Historical Midwestern, As Reclassified |
|  |  | (in thousands) | (in thousands) | (in thousands) |
| Revenue: | Revenue: |  |  |  |
| N/A | Revenue | $11975 | (2) | $— |
| Platform revenue | N/A |  |  |  |
| Platform solutions revenue | N/A |  | (2) | 11975 |
| Other revenue | N/A |  |  |  |
| Total revenue | Total revenue | 11975 |  | 11975 |
| Cost of revenue (exclusive of depreciation and amortization) | Cost of revenue | 8106 |  | 8106 |
| Product development | N/A |  |  |  |
| Sales and marketing | Sales and marketing | 424 |  | 424 |
| General and administrative | General and administrative | 2317 |  | 2317 |
| Depreciation and amortization | Depreciation | 93 |  | 93 |
| Impairment of goodwill | N/A |  |  |  |
| Total operating expenses | Total operating expenses | 10940 |  | 10940 |
| Operating loss | Operating income | 1035 |  | 1035 |
| Other expense (income): | N/A |  |  |  |
| Interest expense (income), net | Interest expense | 306 |  | 306 |
| Other expense (income), net | Other expense, net | 41 |  | 41 |
| Loss (gain) from change in fair value of financial instruments | N/A |  |  |  |
| Total other expense (income), net | N/A | 347 |  | 347 |
| Net loss before income taxes | N/A | 688 |  | 688 |
| Income tax (expense) benefit | N/A |  |  |  |
| Income (loss) from equity method investments, net | N/A |  |  |  |
| Net income (loss) | Net income | 688 |  | 688 |
| Less: net income (loss) attributable to noncontrolling interests | N/A |  |  |  |
| Net loss attributable to common members | N/A | $688 | $— | $688 |

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(2)Allocated $11,975,344 of revenue to 'Platform revenue' in accordance with the Company's accounting classification for comparable revenue generated from similar services.

These reclassification adjustments are presented solely to conform presentation formats and may not reflect all reclassifications necessary to conform Midwestern's historical presentation to that of the Company due to limitations on the availability of information as of the date of this Prospectus.

**6.** **Unaudited Pro Forma Adjustments and Assumptions**

The Company made the following adjustments and assumptions in the preparation of the unaudited pro forma information:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Reflects the recognition of deferred tax assets and liabilities of arising from temporary differences between the financial statement carrying amounts and the tax basis of the Company's assets and liabilities that are expected to be realized as a result of the Corporate Reorganization. Prior to the Corporate Reorganization undertaken for this offering, the Company was structured as a limited liability company (LLC), a partnership for U.S. federal income tax purposes, and therefore was not subject to entity-level federal income tax. The Company was subject to U.S. state income taxes in certain jurisdictions that impose entity-level income taxes on entities treated as partnerships for U.S. federal income tax purposes, which were not significant. Additionally, the foreign subsidiaries of the Company were generally subject to foreign income taxes based upon the laws of the country in which the foreign subsidiary conducts business. Following the Corporate Reorganization and this offering, the Company will be taxed as a corporation and will be subject to U.S. federal income taxes, in addition to state and local taxes. Because the Company incurred losses for the period ended July 31, 2025, and is in a cumulative loss for the three-year period ended July 31, 2025, the income tax benefit on pre-tax losses for U.S. federal and state taxes is predominantly offset by a valuation allowance on the pro forma statement of operations. A valuation allowance is provided for the amount of deferred tax assets that, based upon available evidence, are not expected to be realized. The related deferred tax effects are calculated using the Company's estimated statutory tax rates of 21.7% for the fiscal year ended January 31, 2025, and 24.4% for the six months ended July 31, 2025. <br>

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Reflects the exchange of 115,431,806 Series A preferred units of Gloo Holdings, LLC, including 63,172 units held by consolidated subsidiaries of the Company, for 38,477,268 million shares of Class B common stock of Gloo Holdings, Inc., including 21,057 shares that will be held by consolidated subsidiaries of the Company and will not be considered outstanding in accordance with U.S. GAAP. This exchange was effected based on a three-for-one exchange ratio (Series A preferred units for Class B common stock) as part of the Corporate Reorganization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)Reflects the exchange of 24,651,074 common units of Gloo Holdings, LLC for 8,217,024 million shares of Class B common stock of Gloo Holdings, Inc. This exchange was effected based on a three-for-one exchange ratio (common units for Class B common stock) as part of the Corporate Reorganization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Reflects the reclassification associated with the Exchangeable Shares and Senior Secured Notes Warrants, of $2.4 million and $0.8 million respectively, from liability to equity using the three-for-one exchange ratio. This reclassification occurred as a result of the underlying instrument changing from Series A preferred units to Class B common stock as part of the Corporate Reorganization. These securities are redeemable at the option of the holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)Reflects $1.4 million of incremental stock-based compensation expense associated with the cancellation of profits units with a hurdle rate of $11.25. This amount includes $0.2 million related to unvested profits units and $1.2 million related to vested profits units during the six months ended July 31, 2025. Both amounts have been reclassified to the year ended January 31, 2025, to align with the pro forma presentation during the year ended January 31, 2025. A total of 1,020,000 Profits Units were cancelled as part of the Corporate Reorganization. In exchange for the 6,470,000 unvested Profits Units that were not cancelled, the Company issued 609,748 restricted Class B common shares. These restricted shares are subject to transfer restrictions and forfeiture provisions consistent with the time-based vesting conditions of the unvested incentive units exchanged prior to the Corporate Reorganization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)Reflects a $9.8 million final mark-to-market adjustment to the derivative liability associated with the Senior Secured Convertible Notes and the reclassification of a $0.3 million gain from change in fair value of financial instruments associated with this embedded derivative recognized in the historical consolidated financial statements of the Company for the six months ended July 31, 2025. The derivative liability was established as a result of the variable conversion and share-settled redemption features introduced under the Amended and Restated Note Purchase Agreement that resulted in the Senior Secured Convertible Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)Reflects the (i) settlement of $135.7 million in Senior Secured Convertible Notes, consisting of $107.6 million of outstanding principal, $6.1 million of debt discount and issuance costs, $1.0 million of accrued payment-in-kind ("PIK") and unpaid cash interest, and $33.2 million of associated embedded derivative liability; (ii) reclassification of $6.1 million loss on extinguishment of debt associated with the Senior Secured Convertible Notes recognized in the historical consolidated financial statements of the Company for the six months ended July 31, 2025; and (iii) elimination of $3.0 million and $4.9 million of interest expense recognized in the historical consolidated financial statements of the Company for the year ended January 31, 2025 and six months ended July 31, 2025, respectively. This extinguishment reflects the Notes Conversion in exchange for 12,334,340 Class B common stock based on the conversion price, which is 80.0% of the IPO price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)Reflects the estimate net cash proceeds of $87.8 million from the issuance and sale of Gloo Holdings, Inc.'s Class A common stock to investors in this offering at an assumed public offering price of $11.00 per share, the midpoint of the price range set forth on the cover of this Prospectus, after deducting the estimated underwriting discounts and commissions of $7.0 million, offering-related liabilities payable as of July 31, 2025 of $0.9 million, and offering expenses payable by the Company of approximately $5.3 million, of which $2.8 million were incurred prior to and reflected as of July 31, 2025 in the Company's historical consolidated balance sheet. <br>

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)Reflects the elimination of $2.0 million of revenue and $1.2 million of general and administrative expenses for the year ended January 31, 2025, and $1.8 million of revenue and $1.1 million of general and administrative expenses for the six months ended July 31, 2025, that would have been treated as intercompany transactions and eliminated upon consolidation between the Company and Midwestern had the Midwestern Acquisition occurred on February 1, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)Reflects additional amortization expense of $0.5 million for the year ended January 31, 2025, and $0.2 million for the six months ended July 31, 2025, related to finite-lived intangible assets that would have been recognized had the Midwestern Acquisition occurred on February 1, 2024. The adjustments have been calculated using the straight-line method over the respective estimated useful lives and are based on the step-up in fair value identified in the purchase price allocation (see Note 4):

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  |  | Pro Forma Amortization Expense | Pro Forma Amortization Expense |
|  | Estimated Useful Life | Estimated Fair Value | Estimated Fair Value | For the Year Ended January 31, 2025 | For the Six Months Ended July 31, 2025 |
| Customer relationships | 16 years | $— | 4550000 | 284375 | 94792 |
| Trademarks | 8 years |  | 1500000 | 187500 | 62500 |
| Total amortization expense |  |  |  | $471875 | $157292 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)Reflects $0.1 million of non-recurring transaction costs, consisting of third-party consulting and legal fees, incurred by the Company in connection with the Midwestern Acquisition and recognized subsequent to July 31, 2025. As these expenses were incurred after the interim historical period, an adjustment has been made to include them in the pro forma results for the year ended January 31, 2025. The transaction costs are presented within general and administrative expenses in the pro forma statement of operations. <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)Reflects $0.7 million of incremental interest expense for the year ended January 31, 2025, related to the issuance of the Promissory Notes and installment payment obligation, consisting of $0.4 million of contractual interest and $0.3 million of accretion of debt discount. As the six months ended July 31, 2025 already include all related interest expense, no adjustment is required for that period. Both contractual interest and accretion of debt discount are presented within interest expense in the historical consolidated statement of operations. The following table presents the pro forma adjustments to interest expense:

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| | | |
|:---|:---|:---|
|  | For the Year Ended<br>January 31, 2025 | For the Year Ended<br>January 31, 2025 |
| &nbsp;&nbsp;&nbsp;&nbsp;Contractual interest expense | $— | 431814 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accretion of debt discount |  | 297194 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)Reflects the reclassification of a $2.3 million loss from change in fair value of financial instruments related to changes in fair value associated with the MW Call Option recognized in the historical consolidated financial statements of the Company for the six months ended July 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)Reflects the elimination of $0.3 million of equity method investments net losses associated with Midwestern recognized in the historical consolidated financial statements of the Company for the six months ended July 31, 2025, to align the timing of the transaction and reflect the application of consolidation accounting as if the Midwestern Acquisition had occurred on February 1, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)Reflects the estimated income tax effect of the pro forma adjustments using the Company's estimated tax rate of 21.7% and 24.4% for the year ended January 31, 2025 and the six months ended July 31, 2025, respectively. The actual tax rate of the combined group could be materially different based on future tax planning strategies, jurisdictional income mix and the activities of the combined group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)Reflects the effect of the other Midwestern Acquisition pro forma adjustments on net loss attributable to noncontrolling interest which includes $0.6 million and $0.5 million increase and decrease to net loss attributable to noncontrolling interests for the year ended January 31, 2025 and six months ended July 31, 2025, respectively.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)The change in the weighted-average common shares used to compute pro forma net loss per share attributable to common stockholders, basic and diluted reflects (i) the Corporate Conversion, including the issuance of 38,477,268, which excludes 21,057 Class B common shares issued to consolidated subsidiaries of the Company, and 609,748 Class B common shares issued to consolidated subsidiaries of the Company and holders of unvested Incentive Units that are subject to time-based vesting conditions, respectively, and (ii) the Notes Conversion, resulting in the issuance of 12,334,340 Class B common shares. The Class A common shares associated with the Offering are not included in the weighted-average common shares used to compute pro forma net loss per share attributable to common stockholders, basic and diluted. See Note 7 below. <br>

**7.** **Unaudited Pro Forma Net Loss Per Share**

Pro forma net loss per share, basic and diluted, is computed by dividing pro forma net loss attributable to common stockholders by the weighted-average number of common shares that would have been outstanding during the period, adjusted to give effect to the Transactions, as if they had occurred on February 1, 2024. The pro forma net loss per share calculation does not give effect to the Class A common shares associated with the Offering and potential dilutive securities where the impact would be anti-dilutive.

The following table sets forth the computation of pro forma net loss per share, basic and diluted, attributable to common stockholders:

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| | | |
|:---|:---|:---|
| *(in thousands, except for unit/share data)* | For the Year Ended January 31, 2025 | For the Six Months Ended July 31, 2025 |
| Numerator: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pro forma net loss attributable to common stockholders | $(101365) | $(54081) |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Deemed dividend for conversion of Member Advance | 700 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pro forma net loss attributable to common stockholders, basic and diluted | (102065) | (54081) |
| Denominator: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted-average common shares, basic, as adjusted for reverse split | 7764476 | 8216900 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pro forma adjustment to reflect the issuance of common stock upon completion of the Corporate Reorganization and Notes Conversion: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A Preferred Units, net | 38456211 | 38456211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Secured Convertible Notes | 12334340 | 12334340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exchangeable Shares (Equity-classified penny warrants) | 197663 | 197663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total pro forma weighted-average common shares and equivalents, basic and diluted | 58752690 | 59205114 |
| Pro forma net loss per share, basic and diluted | $(1.74) | $(0.91) |

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![img208649791_17.jpg](img208649791_17.jpg)

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**MANAGEMENT'S DISCUSSION AND ANALYSIS OF**

**FINANCIAL CONDITION AND RESULTS OF OPERATIONS**

*The following discussion and analysis of our financial condition and results of operations should be read together with our consolidated financial statements and the related notes, and other financial information, included elsewhere in this prospectus. Some of the information contained in this discussion and analysis or set forth elsewhere in this prospectus, including information with respect to our plans and strategy for our business, includes forward-looking statements that involve risks and uncertainties. You should review the sections titled "Risk Factors" and "Special Note Regarding Forward-Looking Statements" for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis. The last day of our fiscal year is January 31 and our fiscal quarters end on April 30, July 31, October 31, and January 31. Our fiscal years ended January 31, 2024 and 2025 are referred to herein as "fiscal 2023" and "fiscal 2024", respectively.*

**Overview**

Gloo's mission is to build the leading technology platform for the faith and flourishing ecosystem. Our purpose is to shape technology as a force for good, so people can flourish and communities can thrive. This is grounded in our belief that relationships catalyze growth, and when technology is used to serve relationships, it transforms lives. There are two primary stakeholders at the core of the faith and flourishing ecosystem, network capability providers (NCPs) and the churches and frontline organizations (CFLs) they serve.

NCPs play an enabling role in the faith and flourishing vertical by equipping CFLs with products and services so CFLs can focus on their mission. These products and services include technology solutions, content, marketing services and donor services. CFLs serve as the heart of the faith and flourishing ecosystem, and include churches, ministries, nonprofits and service organizations, providing worship, educational programs, community outreach efforts and other social services support.

We have established a platform that connects NCPs and CFLs and facilitates sales of products and services between the two groups. Through our platform, CFLs gain access to curated resources and NCPs benefit from targeted distribution of their products and services to members of the ecosystem. The Gloo platform includes a suite of technology, marketplace, advertising and service solutions offered directly by us and by our wholly owned or consolidated subsidiaries, which we refer to as Gloo Capital Partners.

We generate revenue from NCPs through sales of enterprise subscriptions to outsourced technology, artificial intelligence (AI) capabilities and advertising (all of which we account for as platform revenue), as well as platform solutions. We generate platform revenue from CFLs through sales of subscriptions to communication tools, content libraries, data insights and AI capabilities, as well as through transactions on our and Gloo Capital Partners' e-commerce marketplaces, including Outreach, Inc., our largest online marketplace.

We generate four types of revenue (the first three of which we account for as platform revenue): (1) subscriptions, which are primarily recurring revenue streams, (2) marketplace, which consists primarily of one-time revenue streams, (3) advertising, which are primarily re-occurring revenue streams, and (4) platform solutions, which includes both recurring and re-occurring revenue streams. For the six months ended July 31, 2025, approximately 70% of our revenue was recurring and re-occurring. Recurring revenue is derived from monthly or annual subscriptions and ongoing contracts, and accounted for approximately 44% of our total revenue for the six months ended July 31, 2025. Re-occurring revenue is derived from repeat customer purchases, most often of digital and physical products from Outreach, and accounted for more than 20% of our total revenue for the six months ended July 31, 2025.

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**Factors Affecting Our Performance**

The following are key factors that affect our performance:

***Completing and Integrating Acquisitions and Investments to Expand our Reach***

We intend to continue to pursue strategic acquisitions and investments to enhance our capabilities, expand distribution and increase the value of our platform. Our acquisition and investment strategy is focused on mission-aligned companies with strong recurring and re-occurring revenue, high engagement among faith and flourishing organizations and differentiated products or solutions. We believe future acquisitions and investments are important to our ability to grow revenue because they allow us to enhance product offerings, deepen the faith and flourishing ecosystem engagement and drive scalable change for NCPs and CFLs. Our ability to efficiently and effectively identify, complete and integrate acquisitions and investments will impact whether and how quickly our expected operational and financial benefits are achieved.

In connection with our acquisition of Visitor Reach and investment in Midwestern, we granted the counterparties contractual rights to repurchase a portion of the business interests that we acquired, subject to certain conditions and over specified periods. If any such repurchase rights are exercised, we may be required to unwind part or all of a completed acquisition or divest all or a portion of a completed investment, on terms that may not be favorable to us, which could result in the loss of strategic or core assets or future revenue streams. The exercise of these repurchase rights may also require us to deconsolidate such entities from our consolidated financial statements, which would adversely affect our financial condition, results of operations and prospects. For example, if all repurchase rights outstanding as of January 31, 2025 were exercisable as of such date and were exercised on such date, we would be required to deconsolidate $0.2 million, or 0.8%, of our fiscal 2024 revenue and $0.1 million, or an immaterial percent, of our fiscal 2024 net loss. If all repurchase rights outstanding as of July 31, 2025 were exercisable as of such date and were exercised on such date, we would be required to deconsolidate $3.6 million, or 12.7%, of our revenue and $0.9 million, or 1.2%, of our net loss for the six months ended July 31, 2025.

The exercise of repurchase rights may also lead to other financial and operational disruption and require us to restructure our operations or write down previously recognized goodwill or intangible assets. Moreover, the existence of repurchase rights may affect our ability to integrate acquired businesses and reduce the certainty of long-term ownership, which could adversely affect our ability to realize the benefits of these acquisitions and investments. Such repurchase rights increase the consideration paid for acquisitions, which then may also increase the likelihood that we take impairment charges subsequent to the closing of acquisitions or investments, for example, as occurred subsequent to our acquisition of Outreach. Although we may enter into similar repurchase right arrangements in connection with future acquisitions and investments, we have historically maintained strong commercial relationships with the counterparties holding such rights, which we believe mitigates the associated risks.

***Expanding AI Capabilities for the Faith and Flourishing Ecosystem***

We are developing Gloo AI, a vertical-specific faith- and flourishing-based AI. Our AI infrastructure and how we embed our AI capabilities into our products and the products of Gloo Capital Partners are designed to enable new applications for engagement, data insights and content creation to serve NCPs, publishers, content creators, denominations, donor platforms and developers. Several of our existing products are AI-native tools that incorporate AI from the beginning of their lifecycle, while many of our Gloo Capital Partners are still early in their AI adoption with AI powering a small but growing number of their current products and services. Our ability to realize returns on our investment in Gloo AI will depend on a number of factors, including our ability to successfully develop and market our AI capabilities, the effectiveness and pricing of these capabilities and our ability to differentiate these capabilities from competitive offerings.

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***Cross-Selling and Upselling of Brands***

We are focused on cross selling and upselling the brands of Gloo Capital Partners to our customer base. At times, different Gloo Capital Partners serve the same customers and we believe that providing bundled offerings that include our core Gloo products and the products of Gloo Capital Partners has the potential to increase our revenue. Our ability to accurately identify, market and sell value-enhancing bundles for our customers will impact the extent to which we are able to realize the potential financial benefits of cross-sell and upsell opportunities.

***Retain and Expand Our Existing Customer Relationships***

Our business model integrates both enterprise NCP sales and digital-led growth to drive platform adoption, expansion and sustainable revenue. NCPs play a pivotal role by delivering their offerings to CFLs through our platform, while also purchasing our technology, advertising services and solutions to power their own operations. Through direct engagement with NCPs, we enable access to our platform, fueling the onboarding of new offerings and driving sustained customer growth. In parallel, our self-service onboarding model empowers CFLs to independently access both free and premium tools through Gloo Workspace, which has contributed to organic growth across our platform. Gloo provides a robust distribution channel for NCPs, driving engagement, reach and recurring revenue. Our ability to successfully anticipate the demands of our customers will impact our ability to create new products and provide new services that are adopted by our customers.

***Continued Technology Innovation and Expansion of Our Platform***

In addition to our investments in Gloo AI, we plan to continue to invest in technology innovation and product development to enhance the capabilities of our platform, including the product development of Gloo Capital Partners. We are actively investing in our advertising offerings to enhance the Gloo Media Network, which provides advertising technology and marketing technology to NCPs. We expect that additional features and products will enable customers and collaborators to manage new workflows on our platform and allow us to attract a broader set of customers. We intend to continue to invest in building additional products, features and functionality that expand our capabilities and facilitate the extension of our platform. Our future success is dependent on our ability to successfully develop or acquire, market and sell existing and new products to both new and existing customers.

**Components of Results of Operations**

***Revenue***

We generate four types of revenue: (1) subscriptions, which are primarily recurring revenue streams, (2) marketplace, which consists primarily of one-time revenue streams, (3) advertising, which are primarily re-occurring revenue streams, and (4) platform solutions, which includes both recurring and re-occurring revenue streams. Our recurring revenue generally consists of monthly and annual subscriptions. Our re-occurring revenue generally consists of products and services with customers that continue to use our services to further their missions in the faith and flourishing vertical.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Subscription revenue, which is a component of platform revenue, includes access to a free and premium portfolio of subscription-based software and access to solutions through our platform. This represents the foundational layer of the Gloo platform, enabling CFLs and NCPs to communicate, organize and operate more effectively. These offerings generate revenue primarily through monthly and annual subscriptions with NCPs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Marketplace revenue, which is a component of platform revenue, represents sales through e-commerce marketplaces where CFLs discover and purchase products, such as books, banners and other physical and digital goods that are consumed through CFL related activities such as research, curriculum, assessments, campaign support and technology services. Our largest marketplace is Outreach, a Gloo Capital Partner. Major faith holidays can result in seasonality within this revenue stream, such as increased revenue in our first and fourth fiscal quarters related to Easter and Christmas purchase volume and decreased revenue in our second fiscal quarter.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Advertising revenue, which is a component of platform revenue, represents fees earned for the placement of advertisements on our and Gloo Capital Partners' websites from third-parties that are looking to offer their products and services to mission-oriented consumers. Beginning in the second quarter of fiscal 2025, we also began providing campaign management services such as strategy and creative consulting, direct mail, email and SMS campaigns, and data and analytics, through Masterworks.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Platform solutions revenue for the years ended January 31, 2024 and January 31, 2025 represented technology and product development for the He Gets Us national media campaign (HGU). Beginning in the first quarter of fiscal 2024, we began providing technology development solutions through Gloo Capital Partners, primarily Midwestern and Servant.

Our revenue recognition policies are discussed in more detail in the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations—Critical Accounting Policies and Estimates."

***Operating Expenses***

*Cost of Revenue (exclusive of depreciation and amortization)*

Cost of revenue (exclusive of depreciation and amortization) related to our platform consists primarily of software and hosting tools, salaries and wages related to employees that support the customer product, as well as customer success teams. Cost of revenue (exclusive of depreciation and amortization) related to marketplace is comprised of raw materials, finished goods, salaries and wages related to employees in the production department, as well as rent expense and overhead. Cost of revenue (exclusive of depreciation and amortization) related to advertising consists primarily of salaries and wages related to employees that support our advertising customers as well as costs related to advertising insertion technology tools. Cost of revenue (exclusive of depreciation and amortization) related to platform solutions primarily consists of salaries and wages for our professional services teams.

We expect that cost of revenue (exclusive of depreciation and amortization) as a percentage of revenue will fluctuate from period to period based on a variety of factors, including the mix of revenue between subscription, marketplace, advertising and platform solutions, variations in labor costs, third-party expenses and acquisitions. For example, marketplace generally has a higher cost of revenue as a percentage of revenue compared to subscription revenue.

*Product Development*

Product development expense consists primarily of employee costs for our product development organization, including salaries, benefits, bonuses and equity-based compensation. Product development expense also includes third-party outsourced technology costs incurred in developing our platforms, and computer equipment, software, and subscription services dedicated for use by our product development organization. We expect our product development expense to increase for the foreseeable future as we continue to dedicate substantial resources to develop, improve and expand the functionality of our offerings, particularly with our expansion of our AI capabilities.

*Sales and Marketing*

Sales and marketing expense consists primarily of employee costs for our sales and marketing personnel, including salaries, benefits, bonuses, equity-based compensation and sales commissions. Sales and marketing expense also includes advertising costs, travel-related expenses and costs to market and promote our offerings, direct customer acquisition costs and costs related to conferences and events. Software and subscription services dedicated for use by our sales and marketing organization and outside services for sales and marketing purposes are also included in sales and marketing expense. Sales commissions that are incremental to obtaining a customer contract are deferred and amortized ratably over the estimated period of our relationship with that customer. We expect our sales and marketing expense will increase on an absolute dollar basis for the foreseeable future as we continue to increase investments to support our growth and expand our reach. We also anticipate that sales and marketing expense will increase in the near and medium-term as we focus our efforts to expand our brand name and presence in the marketplace.

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*General and Administrative*

General and administrative expense consists of employee costs for our executive leadership, accounting, finance, legal, human resources and other administrative personnel, including salaries, benefits, bonuses, and equity-based compensation. General and administrative expense also includes external legal, accounting and other professional service fees, rent, software and subscription services dedicated for use by our general and administrative employees, and other general corporate expenses. Acquisition-related expenses are also a component of general and administrative expense. We expect general and administrative expense to increase on an absolute dollar basis for the foreseeable future as we continue to increase investments to support our growth and because of increased costs due to becoming a publicly-traded company. As we are able to further scale our operations in the future, we expect that general and administrative expense will decrease as a percentage of revenue.

*Depreciation and Amortization*

Depreciation and amortization relate to intangible assets, property and equipment, and capitalized software. Depreciation and amortization will increase on an absolute dollar basis as we continue to acquire Gloo Capital Partners, resulting in additional intangible assets.

***Interest Expense***

Interest expense consists of coupon rate interest expense on our long-term debt, as well as amortization of deferred financing costs and discounts. Discounts typically relate to the value bifurcated from the debt host for embedded warrants and derivatives.

***Income Tax (Expense) Benefit***

We account for income taxes in accordance with *ASC Topic 740, Income Taxes (ASC 740).* ASC 740 requires deferred tax assets and liabilities to be recognized for temporary differences between the tax basis and financial reporting basis of assets and liabilities, computed at the expected tax rates for the periods in which the assets or liabilities will be realized, as well as for the expected tax benefit of net operating loss and tax credit carryforwards. Income taxes are recognized for the amount of taxes payable by the company's corporate subsidiaries for the current year and for the impact of deferred tax assets and liabilities, which represent future tax consequences of events that have been recognized differently in the financial statements than for tax purposes.

**Results of Operations**

The following tables summarize key components of our results of operations for the periods presented. The period-to-period comparisons of our historical results are not necessarily indicative of the results that may be expected in the future. We operate as a single reportable segment to reflect the way our chief operating decision maker reviews and assesses the performance of our business. The accounting policies are described in Note 2, *Summary of Significant Accounting Policies,* in our consolidated financial statements included elsewhere in this prospectus.

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*Impact of Acquisitions*

The comparability of our operating results is impacted by our business combinations and acquisitions. In our discussion of changes in our results of operations for the year ended January 31, 2024 compared to the year ended January 31, 2025 and in our results of operations for the six months ended July 31, 2024 compared to the six months ended July 31, 2025, we may discuss the impact of the growth in certain of our revenue and expenses where such discussions would be meaningful.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** | **Six Months Ended July 31,** | **Six Months Ended July 31,** |
|  | **2024** | **2025** | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
| Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Platform revenue | $2176 | $22873 | $10463 | $17241 |
| &nbsp;&nbsp;&nbsp;&nbsp;Platform solutions revenue | 13325 | 330 | 121 | 11234 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenue | 5788 | 13 | 13 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 21289 | 23216 | 10597 | 28475 |
| Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of revenue (exclusive of depreciation and amortization) <sup>(1)</sup> | 6471 | 19749 | 9394 | 20968 |
| &nbsp;&nbsp;&nbsp;&nbsp;Product development <sup>(1)</sup> | 17780 | 13551 | 6105 | 10730 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing <sup>(1)</sup> | 23560 | 22619 | 10824 | 15823 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative <sup>(1)</sup> | 13300 | 15098 | 7535 | 22206 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 4685 | 7714 | 3611 | 5200 |
| &nbsp;&nbsp;&nbsp;&nbsp;Impairment of goodwill |  | 27753 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 65796 | 106484 | 37469 | 74927 |
| Operating loss | (44507) | (83268) | (26872) | (46452) |
| Other expense (income): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | 3796 | 4738 | 1075 | 6003 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other expense (income), net | (45) | (687) | (194) | (473) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss (gain) from change in fair value of financial instruments |  | (1301) | (220) | 11436 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of debt |  |  |  | 7473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expense (income), net | 3751 | 2750 | 661 | 24439 |
| Net loss before income taxes | (48258) | (86018) | (27533) | (70891) |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax (expense) benefit | 106 | 796 | 412 | 293 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income (loss) from equity method investments, net | (161) | (580) | (273) | (460) |
| Net loss | (48313) | (85802) | (27394) | (71058) |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: net loss attributable to noncontrolling interests |  | (113) |  | (1307) |
| Net loss attributable to common members | $(48313) | $(85689) | $(27394) | $(69751) |

---

------

(1)Equity-based compensation expense was allocated in cost of revenue and operating expenses as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** | **Six Months Ended July 31,** | **Six Months Ended July 31,** |
|  | **2024** | **2025** | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
| Cost of revenue (exclusive of depreciation and amortization) | $3 | $23 | $8 | $18 |
| Product development | 328 | 1056 | 198 | 1080 |
| Sales and marketing | 66 | 551 | 260 | 394 |
| General and administrative | 1471 | 2157 | 2381 | 1783 |
| Total equity-based compensation | $1868 | $3787 | $2847 | $3275 |

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***Comparison of the Six Months Ended July 31, 2024 and 2025***

***Revenue***

---

| | | | |
|:---|:---|:---|:---|
|  | **Six Months Ended July 31,** | **Six Months Ended July 31,**<br>**Change** | **Change** |
|  | **2024** | **2025** | **%** |
|  | **(in thousands)** | **(in thousands)** |  |
| Revenue: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Platform revenue | $10463 | $17241 | 64.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Platform solutions revenue | 121 | 11234 | N/M |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenue | 13 | —) | N/M |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue | $10597 | $28475 | 168.7% |

---

------

\* N/M = not meaningful

Total revenue increased $17.9 million, or 168.7%, for the six months ended July 31, 2025, compared to the six months ended July 31, 2024. This increase was comprised of an increase in platform solutions revenue of $11.1 million and an increase in platform revenue of $6.8 million.

The increase in platform solutions revenue was primarily due to an increase in infrastructure and technology development services, provided through Gloo Capital Partners acquired during the six months ended July 31, 2025, contributing $8.3 million, primarily from Servant, Masterworks and Barna, compared to the six months ended July 31, 2024, prior to the acquisition of these entities. Our platform solutions revenue increased $2.6 million primarily due to an increase in sales from our Gloo360 offering, which provides technology, data and consulting services, for the six months ended July 31, 2025, compared to the six months ended July 31, 2024.

The increase in platform revenue was primarily due to an increase in subscription revenue of $3.4 million and advertising revenue of $3.3 million for the six months ended July 31, 2025, compared to the six months ended July 31, 2024. Subscription revenue increased primarily as a result of broadening our geographic and product footprint through strategic acquisitions, including Church Law & Tax, ChurchSalary and Visitor Reach. Advertising revenue increased primarily as a result of the acquisition of Masterworks, contributing $2.8 million for the six months ended July 31, 2025, compared to the six months ended July 31, 2024.

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***Operating Expenses***

*Cost of Revenue (Exclusive of Depreciation and Amortization)*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** |  |  |
|  | **July 31,** | **July 31,** | **Change** | **Change** |
|  | **2024** | **2025** | $**%** | **%** |
|  | **(in thousands)** | **(in thousands)** |  |  |
| Cost of revenue (exclusive of depreciation and amortization) | $9394 | $20968 |  | 123.2% |
| *Percentage of revenue* | 88.6% | 73.6% |  |  |

---

Cost of revenue (exclusive of depreciation and amortization) increased $11.6 million, or 123.2%, for the six months ended July 31, 2025, compared to the six months ended July 31, 2024. The increase in cost of revenue is primary related to an increase in sales commissions and infrastructure service usage charges directly associated with the increase in platform revenue, as well as an overall increase in revenue. Cost of revenue (exclusive of depreciation and amortization) decreased as a percent of revenue primarily due to the change in revenue mix earned during the comparative periods, in particular the increases in subscription revenue and platform solutions revenue, which have higher gross margins than advertising revenue and marketplace revenue.

*Product Development*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** |  |  |
|  | **July 31,** | **July 31,** | **Change** | **Change** |
|  | **2024** | **2025** | $**%** | **%** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
| Product development | $6105 | $10730 |  | 75.8% |
| *Percentage of revenue* | 57.6% | 37.7% |  |  |

---

Product development expense increased $4.6 million, or 75.8%, for the six months ended July 31, 2025, compared to the six months ended July 31, 2024. We incurred an increase of $4.6 million, primarily related to wages and benefits, inclusive of equity compensation, related to our commitment to increase our full-time internal staffing to support the development of Gloo AI and the acquisitions of Midwestern and Servant.

*Sales and Marketing*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** |  |  |
|  | **July 31,** | **July 31,** | **Change** | **Change** |
|  | **2024** | **2025** | $**%** | **%** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
| Sales and marketing | $10824 | $15823 |  | 46.2% |
| *Percentage of revenue* | 102.1% | 55.6% |  |  |

---

Sales and marketing expenses increased $5.0 million, or 46.2%, for the six months ended July 31, 2025, compared to the six months ended July 31, 2024. We incurred an increase in compensation expense of $2.2 million as we continue to invest in expanding our internal marketing team, an increase in agency fees of $1.4 million related to our rebranding initiatives and an increase of $0.7 million on travel, entertainment and promotional events.

*General and Administrative*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** |  |  |
|  | **July 31,** | **July 31,** | **Change** | **Change** |
|  | **2024** | **2025** | $**%** | **%** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
| General and administrative | $7535 | $22206 |  | 194.7% |
| *Percentage of revenue* | 71.1% | 78.0% |  |  |

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General and administrative expenses increased $14.7 million, or 194.7%, for the six months ended July 31, 2025, compared to the six months ended July 31, 2024. Personnel expenses increased $7.4 million primarily associated with the acquisitions of Servant, Midwestern and Masterworks. We also incurred acquisition transaction fees of $2.6 million, professional service fees of $2.6 million related to incremental financial reporting activities and other activities meant to streamline our corporate functions in advance of operating as a public company and $0.8 million related to licenses, subscriptions and equipment to support our growing business.

*Depreciation and Amortization*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** |  |  |
|  | **July 31,** | **July 31,** | **Change** | **Change** |
|  | **2024** | **2025** | $**%** | **%** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
| Depreciation and amortization | $3611 | $5200 |  | 44.0% |
| *Percentage of revenue* | 34.1% | 18.3% |  |  |

---

Depreciation and amortization expense increased $1.6 million, or 44.0%, for the six months ended July 31, 2025, compared to the six months ended July 31, 2024. This increase is primarily due to an increase of $1.6 million due to an increase in intangible assets acquired through business combinations that were consummated subsequent to July 31, 2024.

***Other Expense (Income)***

*Interest Expense*

---

| | | | |
|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** |  |
|  | **July 31,** | **July 31,** |  |
|  | **2024** | **2025** | $**%** |
|  | **(in thousands)** | **(in thousands)** |  |
| Interest expense | $1075 | $6003 | N/M |

---

Interest expense increased $4.9 million, for the six months ended July 31, 2025, compared to the six months ended July 31, 2024, primarily due to an increase of $73.0 million in our outstanding debt balances as of July 31, 2025 as compared to July 31, 2024, and an increase in of $1.4 million of amortization of debt discounts and issuance costs during the six months ended July 31, 2025, compared to the six months ended July 31, 2024.

*Loss (Gain) from Change in Fair Value of Financial Instruments*

---

| | | | |
|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** |  |
|  | **July 31,** | **July 31,** |  |
|  | **2024** | **2025** | $**%** |
|  | **(in thousands)** | **(in thousands)** |  |
| Loss (gain) from change in fair value of financial instruments | $(220) | $11436 | N/M |

---

The change in fair value of financial instruments resulted in a loss of $11.7 million during the six months ended July 31, 2025, compared to the six months ended July 31, 2024, primarily as a result of the exchange of certain of our Original Senior Secured Notes (as defined herein) to Exchanged Senior Secured Convertible Notes (as defined herein).

*Loss on Extinguishment of Debt*

---

| | | | |
|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** |  |
|  | **July 31,** | **July 31,** |  |
|  | **2024** | **2025** | $**%** |
|  | **(in thousands)** | **(in thousands)** |  |
| Loss on extinguishment of debt | $— | $7473 | N/M |

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We incurred a loss on extinguishment of debt of $7.5 million, during the six months ended July 31, 2025, as a result of the exchange of certain of our Original Senior Secured Notes to Exchanged Senior Secured Convertible Notes. No such transaction occurred during the six months ended July 31, 2024.

**Comparison of the Years Ended January 31, 2024 and 2025**

***Revenue***

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** | **Change** | **Change** |
|  | **2024** | **2025** | **Amount** | **%** |
|  | **(in thousands)** | **(in thousands)** |  |  |
| Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Platform revenue | $2176 | $22873 | $20697 | 951.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Platform solutions revenue | 13325 | 330 | (12995) | (97.5)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenue | 5788 | 13 | (5775) | (99.8)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue | $21289 | $23216 | $1927 | 9.1% |

---

Revenue increased $1.9 million, or 9.1%, for the year ended January 31, 2025, compared to the year ended January 31, 2024. This increase was primarily driven by an increase in platform revenue of $20.7 million, partially offset by a decline in platform solutions revenue of $13.0 million and a decline in other revenue of $5.8 million.

The increase in platform revenue was primarily due to an increase in marketplace revenue of $13.5 million for the year ended January 31, 2025, compared to the year ended January 31, 2024, and relates to our acquisition of Outreach in January 2024, providing one month of revenue for the year ended January 31, 2024, compared to 12 months of revenue in the year ended January 31, 2025. Additionally, within platform revenue, subscription revenue increased $5.6 million for the year ended January 31, 2025, compared to the year ended January 31, 2024. This resulted from 12 months of Outreach subscription revenue of $4.7 million being included in fiscal 2024 results compared to one month of Outreach subscription revenue of $0.4 million being included in fiscal 2023 results. Additionally, other subscription products resulted in an increase of $1.2 million resulting from increased adoption and engagement across our platform.

The decline in platform solutions revenue of $13.0 million from fiscal 2023 to fiscal 2024 is related to the completion of our services for the HGU campaign. The decline in other revenue of $5.8 million relates to the termination of revenue from sponsorships provided to CFLs that were used to purchase Gloo subscriptions, which was recognized as it was earned from contributions received under a non-reciprocal funding arrangement. In the year ended January 31, 2024, we focused our efforts on expanding sales directly to new CFLs and NCPs, without using the aforementioned sponsorship construct.

***Operating Expenses***

*Cost of Revenue (Exclusive of Depreciation and Amortization)*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** | **Change** | **Change** |
|  | **2024** | **2025** | **Amount** | **%** |
|  | **(in thousands)** | **(in thousands)** |  |  |
| Cost of revenue (exclusive of depreciation and amortization) | $6471 | $19749 | $13278 | 205.2% |
| *Percentage of revenue* | 30.4% | 85.1% |  |  |

---

Cost of revenue (exclusive of depreciation and amortization) increased $13.3 million, or 205.2%, for the year ended January 31, 2025 compared to the year ended January 31, 2024. Cost of revenue (exclusive of depreciation and amortization) increased as a percent of revenue primarily due to the mix of revenue earned during fiscal 2024 compared to fiscal 2023 as we expanded our marketplace revenue offerings through the acquisition of Outreach. The addition of a full year of Outreach operations in our income statement resulted in an additional $12.9 million for the year ended January 31, 2025, particularly due to the increase in marketplace revenue generated from Outreach. Marketplace revenue has a relatively low gross margin compared to other of our revenue streams.

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*Product Development*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** | **Change** | **Change** |
|  | **2024** | **2025** | **Amount** | **%** |
|  | **(in thousands)** | **(in thousands)** |  |  |
| Product development | $17780 | $13551 | $(4229) | (23.8)% |
| *Percentage of revenue* | 83.5% | 58.4% |  |  |

---

Product development expense decreased by $4.2 million, or 23.8%, for the year ended January 31, 2025, compared to the year ended January 31, 2024. Although our product development expense decreased on an absolute dollar basis and a percent of revenue basis, the mix of expense shifted from fiscal 2023 to fiscal 2024 as a result of our commitment to increase our full-time staffing to support our AI and technology development. During the year ended January 31, 2025, we began investment in Gloo AI by increasing our employee base. Expenses related to Gloo AI represent those costs ineligible for capitalization. Additionally, our acquisition of Outreach resulted in a greater employee base to support our technology offerings, allowing us to reduce our reliance on outsourced engineering. We incurred an increase in compensation related expense due to expanding our workforce, which included a $1.4 million increase in salaries and bonuses, as well as a $0.7 million increase in equity-based compensation for employees that support our product development efforts. This was offset by a reduction in outsourced engineering of $5.6 million.

*Sales and Marketing*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** | **Change** | **Change** |
|  | **2024** | **2025** | **Amount** | **%** |
|  | **(in thousands)** | **(in thousands)** |  |  |
| Sales and marketing | $23560 | $22619 | $(941) | (4.0)% |
| *Percentage of revenue* | 110.7% | 97.4% |  |  |

---

Sales and marketing expenses decreased by $0.9 million, or 4.0%, for the year ended January 31, 2025, compared to the year ended January 31, 2024. Our reliance on external professional services decreased by $1.5 million as we invested in our own employee base, which resulted in an increase of $0.6 million of compensation related expense to support our future plans to expand our brand in the marketplace.

*General and Administrative*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** | **Change** | **Change** |
|  | **2024** | **2025** | **Amount** | **%** |
|  | **(in thousands)** | **(in thousands)** |  |  |
| General and administrative | $13300 | $15098 | $1798 | 13.5% |
| *Percentage of revenue* | 62.5% | 65.0% |  |  |

---

General and administrative expenses increased $1.8 million, or 13.5%, for the year ended January 31, 2025, compared to the year ended January 31, 2024. The primary driver of the increase relates to an additional $1.8 million of personnel related expenses, including $0.8 million of equity-based compensation expense incurred in the year ended January 31, 2025 to support our expanding operations, incremental financial reporting activities and other activities meant to streamline our corporate functions in advance of operating as a public company.

*Depreciation and Amortization*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** | **Change** | **Change** |
|  | **2024** | **2025** | **Amount** | **%** |
|  | **(in thousands)** | **(in thousands)** |  |  |
| Depreciation and amortization | $4685 | $7714 | $3029 | 64.7% |
| *Percentage of revenue* | 22.0% | 33.2% |  |  |

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Depreciation and amortization expense increased $3.0 million, or 64.7%, for the year ended January 31, 2025, compared to the year ended January 31, 2024. This increase is primarily related to $2.0 million in increased amortization expense in fiscal 2024 as compared to fiscal 2023 for intangible assets recently acquired in acquisitions. Amortization of capitalized software increased by $0.7 million for fiscal 2024 compared to fiscal 2023.

*Impairment of Goodwill*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** | **Change** | **Change** |
|  | **2024** | **2025** | **Amount** | **%** |
|  | **(in thousands)** | **(in thousands)** |  |  |
| Impairment of goodwill | $— | $27753 | $27753 | N/M |
| *Percentage of revenue* | 0.0% | 119.5% |  |  |

---

Impairment of goodwill expense increased $27.8 million for the year ended January 31, 2025, compared to the year ended January 31, 2024, due to the impairment charge we recorded with respect to the goodwill acquired in the Outreach Acquisition. There were no goodwill impairment charges recorded during the year ended January 31, 2024.

***Other Expense (Income)***

*Interest Expense*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** | **Change** | **Change** |
|  | **2024** | **2025** | **Amount** | **%** |
|  | **(in thousands)** | **(in thousands)** |  |  |
| Interest expense | $3796 | $4738 | $942 | 24.8% |

---

Interest expense increased $0.9 million, or 24.8%, for the year ended January 31, 2025, compared to the year ended January 31, 2024. This increase is due primarily to a higher stated coupon interest rate on the Senior Secured Notes that were outstanding during the year ended January 31, 2025, which was the higher of the 1-Month SOFR or 1%, plus 8%, as compared to the 5% stated coupon interest rate we incurred on the Convertible Notes that were outstanding during the year ended January 31, 2024. Additionally, the Senior Secured Notes included derivatives and warrants that were bifurcated at issuance, resulting in a debt discount on the Senior Secured Notes that has been accreted through interest expense.

*Loss (Gain) from Change in Fair Value of Financial Instruments*

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** | **Change** | **Change** |
|  | **2024** | **2025** | **Amount** | **%** |
|  | **(in thousands)** | **(in thousands)** |  |  |
| Loss (gain) from change in fair value of<br> financial instruments | $— | $(1301) | $(1301) | N/M |

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The change in fair value of financial instruments resulted in a gain of $1.3 million for the year ended January 31, 2025. The financial instruments arose from the issuance of our Senior Secured Notes during the year ended January 31, 2025. No such instruments existed during the year ended January 31, 2024.

***Income Tax (Expense) Benefit***

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** | **Change** | **Change** |
|  | **2024** | **2025** | **Amount** | **%** |
|  | **(in thousands)** | **(in thousands)** |  |  |
| Income tax (expense) benefit | $106 | $796 | $690 | 650.0% |

---

Income tax benefit increased $0.7 million due to the inclusion of a full year of Outreach activity included in the year ended January 31, 2025, as compared to one month for the year ended January 31, 2024.

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**Quarterly Results of Operations**

The following table sets forth selected unaudited quarterly consolidated statements of operations data for each of the quarterly periods for the year ended January 31, 2025 and the six months ended July 31, 2025. The information for each of these six quarters has been prepared on the same basis as the audited annual and interim consolidated financial statements included elsewhere in this prospectus and, in the opinion of management, includes all adjustments, which consist only of normal recurring adjustments, necessary for the fair presentation of the results of operations for these periods in accordance with GAAP. This data should be read in conjunction with our consolidated financial statements and related notes included elsewhere in this prospectus. These quarterly operating results are not necessarily indicative of our operating results for a full year or any future period.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **April 30, 2024** | **July 31, 2024** | **October 31, 2024** | **January 31, 2025** | **April 30, 2025** | **July 31, 2025** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
| Revenue: |  |  |  |  |  |  |
| &nbsp;&nbsp;Platform revenue | $6507 | $3956 | $6087 | $6323 | $8495 | $8746 |
| &nbsp;&nbsp;Platform solutions revenue | 25 | 96 | 36 | 173 | 3807 | 7427 |
| &nbsp;&nbsp;Other revenue | 13 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 6545 | 4052 | 6123 | 6496 | 12302 | 16173 |
| Operating expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;Cost of revenue (exclusive of depreciation and amortization) <sup>(1)</sup> | 5486 | 3908 | 4938 | 5417 | 8874 | 12094 |
| &nbsp;&nbsp;Product development <sup>(1)</sup> | 3010 | 3095 | 3852 | 3594 | 5712 | 5018 |
| &nbsp;&nbsp;Sales and marketing <sup>(1)</sup> | 5534 | 5290 | 5317 | 6478 | 7324 | 8499 |
| &nbsp;&nbsp;General and administrative <sup>(1)</sup> | 4760 | 2775 | 2779 | 4784 | 9942 | 12264 |
| &nbsp;&nbsp;Depreciation & amortization | 1796 | 1815 | 1949 | 2154 | 2527 | 2673 |
| &nbsp;&nbsp;Impairment of goodwill |  |  |  | 27753 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 20586 | 16883 | 18835 | 50180 | 34379 | 40548 |
| Operating loss | (14041) | (12831) | (12712) | (43684) | (22077) | (24375) |
| Other expense (income): |  |  |  |  |  |  |
| &nbsp;&nbsp;Interest expense | 76 | 999 | 1779 | 1884 | 2752 | 3251 |
| &nbsp;&nbsp;Other (income) expense, net | (56) | (138) | (343) | (150) | (421) | (52) |
| &nbsp;&nbsp;Loss (gain) from change in fair value of financial instruments |  | (220) | (538) | (543) | 3190 | 8246 |
| &nbsp;&nbsp;Loss on extinguishment of debt |  |  |  |  |  | 7473 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other expense (income), net | 20 | 641 | 898 | 1191 | 5521 | 18918 |
| Net loss before income taxes | (14061) | (13472) | (13610) | (44875) | (27598) | (43293) |
| &nbsp;&nbsp;Income tax benefit (expense) | 10 | 402 | 148 | 236 | (33) | 326 |
| &nbsp;&nbsp;Income (loss) from equity method investments, net | (145) | (128) | (164) | (143) | 674 | (1134) |
| Net loss | (14196) | (13198) | (13626) | (44782) | (26957) | (44101) |
| &nbsp;&nbsp;Less: net loss attributable to noncontrolling interests |  |  |  | (113) | (556) | (751) |
| Net loss attributable to common members | $(14196) | $(13198) | $(13626) | $(44669) | $(26401) | $(43350) |

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(1)Equity-based compensation expense was allocated in cost of revenue and operating expenses as follows:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **April 30, 2024** | **July 31, 2024** | **October 31, 2024** | **January 31, 2024** | **April 30, 2025** | **July 31, 2025** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
| Cost of revenue (exclusive of depreciation and amortization) | $1 | $7 | $8 | $7 | $9 | $9 |
| Product development | 106 | 92 | 331 | 527 | 530 | 550 |
| Sales and marketing | 204 | 56 | 114 | 177 | 192 | 202 |
| General and administrative | 2415 | (34) | 148 | (372) | 1337 | 446 |
| &nbsp;&nbsp;Total equity-based compensation | $2726 | $121 | $601 | $339 | $2068 | $1207 |

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***Quarterly Trends***

***Revenue***

Our total revenue generally increased over the periods presented, primarily reflecting contributions from acquisitions.

Platform revenue remained steady through the earlier quarters and increased during the first two quarters of fiscal 2025, driven by higher subscription and advertising revenue, primarily from the acquisitions of Visitor Reach and Masterworks, respectively.

Platform solutions revenue increased during the first two quarters of fiscal 2025, primarily due to infrastructure and technology development services provided through Gloo Capital Partners, including Servant, Masterworks and Barna. Platform solutions revenue also benefited from higher sales of our Gloo360 offering, which provides technology, data and consulting services.

***Operating Expenses***

Cost of Revenue (exclusive of depreciation and amortization) generally fluctuates depending on the revenue mix and gross margin. It increased in the first two quarters of fiscal 2025 primarily due to higher costs associated with the increase in platform revenue, as well as an overall increase in revenue.

Product development expense remained relatively stable and increased in the first two quarters of fiscal 2025, primarily due to wages and benefits associated with supporting Gloo AI and acquisitions.

Sales and marketing expenses gradually increased due to an investment in our internal marketing team and an increase in agency fees.

General and administrative expenses can fluctuate quarter to quarter. These expenses increased in the first two quarters of fiscal 2025, primarily due to acquisition-related fees and costs incurred in preparation for operating as a public company.

**Non-GAAP Financial Measure**

In addition to our results and measures of performance determined in accordance with U.S. GAAP, we also evaluate our operating performance based on our Adjusted EBITDA, a non-GAAP financial measure. In conjunction with our U.S. GAAP financial results, we use Adjusted EBITDA to evaluate our core operating performance, support planning and forecasting, and assess strategic opportunities. In addition, we may use Adjusted EBITDA in the incentive compensation programs applicable to some of our employees. Accordingly, we believe that Adjusted EBITDA may provide useful information to investors about our business and financial performance, enhance their overall understanding of our past performance and future prospects, and allow for greater transparency with respect to this measure used by our management in their financial and operational decision making.

Adjusted EBITDA has inherent limitations because it reflects the exercise of judgment by our management about which expense items to include or exclude. Accordingly, Adjusted EBITDA may not be directly comparable to similarly titled metrics used by other companies. The non-GAAP financial information is presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with U.S. GAAP. Investors are encouraged to review the related U.S. GAAP financial measure and the reconciliation provided below, as well as our consolidated financial statements and related notes included elsewhere in this prospectus.

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We define Adjusted EBITDA as net loss attributable to common members adjusted to exclude (1) interest expense, (2) income tax expense (benefit), (3) depreciation and amortization, (4) equity-based compensation, (5) financing and restructuring costs, (6) impairment of goodwill, (7) loss (gain) from change in fair value of financial instruments, (8) loss on extinguishment of debt, (9) income (loss) from equity method investments, net, (10) interest income and (11) other non-cash or non-routine items that are not reflective of our core operating results. The following table presents a reconciliation of net loss attributable to common members, the most directly comparable financial measure calculated in accordance with U.S. GAAP, to Adjusted EBITDA.

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** | **Six Months Ended July 31,** | **Six Months Ended July 31,** |
|  | **2024** | **2025** | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
| Net loss attributable to common members | $(48313) | $(85689) | $(27394) | $(69751) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss attributable to noncontrolling interests |  | (113) |  | (1307) |
| Net loss | (48313) | (85802) | (27394) | (71058) |
| Adjusted to exclude: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | 3796 | 4738 | 1075 | 6003 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax expense (benefit) | (106) | (796) | (412) | (293) |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 4685 | 7714 | 3611 | 5200 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity-based compensation | 1868 | 3787 | 2846 | 3275 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financing and restructuring costs | 1522 | 687 | 4 | 1370 |
| &nbsp;&nbsp;&nbsp;&nbsp;Impairment of goodwill |  | 27753 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss (gain) from change in fair value of financial instruments |  | (1301) | (220) | 11436 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of debt |  |  |  | 7473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Income) loss from equity method investments, net | 161 | 580 | 273 | 460 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income | (12) | (665) | (182) | (133) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other<sup>(1)</sup> | 112 | (70) | 4 | 18 |
| Adjusted EBITDA | $(36287) | $(43375) | $(20395) | $(36249) |

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(1)Includes adjustments related to system implementation costs and expenses incurred in connection with preparing for an initial public offering.

**Liquidity and Capital Resources**

***Sources and Uses of Funds***

To date, our primary sources of liquidity have been net proceeds from the issuance of preferred equity, as well as long-term debt financings. Our principal uses of cash have included business acquisitions, investments in equity method investees and funding operating losses.

During the year ended January 31, 2024, we completed one business acquisition and made one equity method investment, using a combined $19.7 million in cash. Net cash used in operating activities during the same period totaled $41.4 million. For the year ended January 31, 2025, we completed two acquisitions and made one equity method investment, with a total cash outlay of $4.3 million. Net cash used in operating activities during the same period totaled $46.1 million.

During the six months ended July 31, 2024, we completed one business acquisition using $1.4 million in cash. Net cash used in operating activities during the six months ended July 31, 2024 totaled $23.5 million. For the six months ended July 31, 2025, we completed five acquisitions using $3.8 million in cash. Net cash used in operating activities during the six months ended July 31, 2025 totaled $44.2 million.

During the year ended January 31, 2025, we issued $60.7 million in aggregate principal amount of senior secured promissory notes that bear interest at a variable rate equal to the higher of the 1-Month SOFR or 1%, plus 8.0% per annum, mature on April 23, 2027 and are prepayable at any time by us without penalty (the Original Senior Secured Notes). The interest rate was 12.5% and 12.3% as of January 31, 2025 and July 31, 2025, respectively. In June 2025, we amended the terms of our outstanding debt, offering existing holders the option to exchange their Original Senior Secured Notes for senior secured convertible notes (the Exchanged Senior Secured Convertible Notes) that are convertible into shares of our common stock at the lower of (1) a 20% discount to the offering price or (2) $30.00 per share, with all other material terms remaining consistent with the Original Senior

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Secured Notes. As a result of the exchange, $50.6 million of the Original Senior Secured Notes were exchanged for Exchanged Senior Secured Convertible Notes, while $12.7 million remained outstanding with holders who declined to participate. Following the amendment, we have issued an additional $87.9 million of senior secured convertible notes under the same terms (together with the Exchanged Senior Secured Convertible Notes, the A&R Senior Secured Notes). The interest rate and maturity date of the A&R Senior Secured Notes, which are prepayable at any time by us without penalty, remain the same as the Original Senior Secured Notes.

Since our inception, we have raised equity and debt financing from a broad-based group of investors, including significant funding from our co-founder, president and chief executive officer, Mr. Beck, and his affiliates. Mr. Beck, together with his affiliates, is our largest equity holder and has continued to be a material capital contributor throughout our existence. To date, Mr. Beck and his affiliates have contributed an aggregate of $162.0 million to us through purchases of our common units, Series A preferred units and A&R Senior Secured Notes, representing more than 30% of our total capital raised. For the years ended January 31, 2024 and 2025, Mr. Beck and his affiliates contributed an aggregate of $18.0 million and $45.0 million, respectively, to us through purchases of our Series A preferred units and A&R Senior Secured Notes. For the six months ended July 31, 2024 and 2025, Mr. Beck and his affiliates contributed an aggregate of $30.0 million and $48.0 million, respectively, to us through the A&R Senior Secured Notes.

In addition, Mr. Beck and his affiliates entered into put agreements with several other purchasers of our Series A preferred units pursuant to which Mr. Beck and his affiliates agreed to purchase all of the shares purchased by such other purchasers for a total of $40.5 million upon such purchasers' demand during a specified period. In connection with these put agreements, Mr. Beck and his affiliates also entered into guaranty agreements with certain of the purchasers to personally guarantee the payment of $26.9 million of the obligations under these put agreements.

Further, Mr. Beck and his affiliates have entered into guaranty agreements with holders of the Original Senior Secured Notes and the A&R Senior Secured Notes pursuant to which Mr. Beck and his affiliates have guaranteed payment of the outstanding balances of these notes totaling $50.8 million upon the occurrence of certain events of default. Mr. Beck has also entered into put agreements with certain holders of A&R Senior Secured Notes pursuant to which he has agreed to purchase such notes, or the equity securities issuable upon conversion thereof, for a total of $2.0 million during a specified period.

In connection with certain of our acquisitions, Mr. Beck and his affiliates entered into put agreements with the sellers pursuant to which Mr. Beck and his affiliates agreed to purchase upon such sellers' demand the equity consideration they received, totaling $44.0 million, during a specified period. In connection with one of these acquisitions, Mr. Beck and his affiliates also entered into a guaranty agreement with the sellers to personally guarantee the payment of $30.0 million of the obligations under these put agreements. The aggregate amount of the consideration attributed to the equity consideration in those acquisitions was $15.9 million.

As of January 31, 2025, we held cash and cash equivalents of $13.6 million and had an accumulated deficit of $368.3 million. We incurred a net loss of $85.8 million and $48.3 million during fiscal 2024 and fiscal 2023, respectively. As of July 31, 2025, we held cash and cash equivalents of $22.6 million and had an accumulated deficit of $438.1 million. We incurred a net loss of $71.1 million and $27.4 million during the six months ended July 31, 2025 and July 31, 2024, respectively.

Looking ahead, management's assessment of our ability to continue as a going concern involved evaluating its forecasted liquidity needs and overall financial condition over a period of at least 12 months from the date the financial statements are available to be issued. As part of this assessment, management considered our current financial condition, which is characterized by recurring operating losses, negative cash flows, limited liquid resources and dependence on external financing, as well as the funds required to execute our business plan over the evaluation period. Based on these factors, we have concluded that there is substantial doubt about our ability to continue as a going concern for at least 12 months from the date the financial statements are available to be issued.

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The consolidated financial statements have been prepared on a basis that assumes we will continue as a going concern and do not include any adjustments to reflect the possible future effects of the recoverability and classification of assets or the amounts and classification of liabilities that may result should we be unable to continue as a going concern.

***Historical Cash Flows***

The following table summarizes our consolidated cash flows for the periods indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** | **Six Months Ended July 31,** | **Six Months Ended July 31,** |
|  | **2024** | **2025** | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
| Net cash provided by (used in): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating activities | $(41382) | $(46134) | $(23493) | $(44226) |
| &nbsp;&nbsp;&nbsp;&nbsp;Investing activities | (24482) | (14926) | (4176) | (10732) |
| &nbsp;&nbsp;&nbsp;&nbsp;Financing activities | 77673 | 61177 | 44142 | 64217 |
| Effect of exchange rate changes on cash and cash equivalents |  |  |  | (260) |
| Net increase in cash and cash equivalents | $11809 | $117 | $16473 | $8999 |

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*Operating Activities*

Net cash used in operating activities was $46.1 million for the year ended January 31, 2025, as compared to $41.4 million for the year ended January 31, 2024. The increase in cash used was primarily driven by a decrease of net cash flows from changes in operating assets and liabilities of $6.3 million, primarily attributable to the timing of payments for accrued expenses and other non-current liabilities. The increase in net loss of $37.5 million was offset by $39.0 million of net non-cash charges, including an impairment of goodwill of $27.8 million, an increase in depreciation and amortization of $3.0 million, and an increase in equity-based compensation of $1.9 million.

Net cash used in operating activities was $44.2 million for the six months ended July 31, 2025, as compared to $23.5 million for the six months ended July 31, 2024. The increase in cash used was primarily driven by an increase in net loss of $43.7 million, partially offset by $22.0 million of net non-cash charges, including an increase in the loss from change in fair value of financial instruments of $11.2 million, a loss on extinguishment of debt of $7.5 million, an increase in depreciation and amortization of $1.6 million and an increase in equity-based compensation of $0.4 million.

*Investing Activities*

Net cash used in investing activities was $14.9 million for the year ended January 31, 2025, as compared to $24.5 million for the year ended January 31, 2024. The decrease was primarily driven by a $17.3 million reduction in cash used for acquisitions, partially offset by an increase in investments in capitalized software of $5.8 million and an increase in cash paid for equity method investments of $2.0 million primarily related to the Midwestern investment.

Net cash used in investing activities was $10.7 million for the six months ended July 31, 2025, as compared to $4.2 million for the six months ended July 31, 2024. The increase was primarily driven by an increase of $3.9 million in investments related to capitalized software and an increase in cash paid of $2.4 million for our five acquisitions.

*Financing Activities*

Net cash provided by financing activities was $61.2 million for the year ended January 31, 2025, as compared to $77.7 million for the year ended January 31, 2024. The decrease was primarily driven by a decrease in proceeds received from preferred unit issuances of $44.9 million, and a decrease in member advances received of $14.8 million. The decrease was partially offset by an increase in proceeds from non-current debt of $42.5 million related to the issuance of the senior secured promissory notes.

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Net cash provided by financing activities was $64.2 million for the six months ended July 31, 2025, as compared to $44.1 million for the six months ended July 31, 2024. The increase was primarily driven by an increase in proceeds received from the issuance of senior secured convertible notes of $13.0 million and an increase in member advances received of $6.7 million.

**Emerging Growth Company Status**

As an "emerging growth company," Section 107 of the JOBS Act allows us to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. We have elected to use this extended transition period under the JOBS Act for the implementation of new or revised accounting standards and as a result of this election, our consolidated financial statements may not be comparable to the financial statements of issuers who are required to comply with the effective dates for new or revised accounting standards that are applicable to public companies, which may make our Class A common stock less attractive to investors. We will remain an emerging growth company until the earliest to occur of: (1) the last day of the fiscal year in which we have at least $1.235 billion in annual revenue; (2) the date we qualify as a "large accelerated filer," with at least $700.0 million of equity securities held by non-affiliates as of the last business day of our most recently completed second fiscal quarter; (3) the date on which we have issued more than $1.0 billion in non-convertible debt securities during the prior three-year period; and (4) the last day of the fiscal year ending after the fifth anniversary of the completion of this offering.

**Off-Balance Sheet Arrangements**

We do not have nor do we enter into off-balance sheet arrangements that had, or which are reasonably likely to have, a material effect on our financial condition, revenue or expenses, results of operations, liquidity, capital expenditures or capital resources.

**Critical Accounting Policies and Estimates**

Our discussion and analysis of our financial condition and results of operations are based upon our financial statements, which have been prepared in accordance with U.S. generally accepted accounting principles, or U.S. GAAP. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets and liabilities and related disclosure of contingent assets and liabilities, revenue and expenses at the date of the financial statements. Generally, we base our estimates on historical experience and other assumptions in accordance with U.S. GAAP that we believe are reasonable under the circumstances, and we evaluate these estimates on an ongoing basis. Actual results may differ from these estimates.

Critical accounting policies and estimates are those that we consider the most important to the portrayal of our financial condition and results of operations because they require our most difficult, subjective or complex judgments, often as a result of the need to make estimates about the effect of matters that are inherently uncertain. Our critical accounting policies and estimates are discussed below:

*Revenue Recognition*

We recognize revenue in accordance with Accounting Standards Codification (ASC) Topic 606, *Revenue from Contracts with Customers* (ASC 606), and, for certain funding arrangements, ASC 958-605. Under ASC 606, revenue is recognized when control of the promised goods or services is transferred to customers in an amount that reflects the consideration we expect to receive. Our revenue consists primarily of subscription revenue, marketplace revenue and advertising revenue, the three of which comprise platform revenue, as well as platform solutions revenue and other revenue. We determine revenue recognition in accordance with ASC 606 through the following five steps:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Identification of the contract, or contracts, with the customer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Identification of the performance obligations in the contract.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Determination of the transaction price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Allocation of the transaction price to the performance obligations in the contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Recognition of revenue when, or as, a performance obligation is satisfied.

For contracts involving multiple performance obligations, the total transaction price is allocated based on the relative stand-alone selling price (SSP) of each distinct obligation. SSP is determined using observable prices charged to similar customers whenever available. In instances where observable SSPs are not available, we estimate SSPs based on market conditions, historical pricing practices and internal pricing guidelines. SSP ranges are periodically reassessed, and allocations are updated prospectively for new contracts.

Our contracts may include variable consideration such as estimated refunds, coupons, incentives and adjustments, accounted for as reductions of revenue to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Judgment is exercised in determining SSP and estimating variable consideration. We continually assess these estimates based on historical experience and market conditions.

Subscription revenue consists primarily of software-as-a-service (SaaS) offerings. Customers typically receive continuous access to our SaaS offerings, which includes ongoing updates and support. Revenue from these subscriptions is recognized ratably over the contractual period, beginning on the date the service is made available to the customer. Subscription contracts can be billed annually in advance, quarterly in advance or monthly, and payments are due within standard commercial terms. Our contracts do not typically contain significant financing components.

Marketplace revenue includes sales of physical and digital products such as books, publications, curriculum materials, marketing materials and church supplies through our online marketplace and online stores of consolidated Gloo Capital Partners. Revenue from marketplace sales is recognized at a point in time upon shipment for physical goods or when made available to the customer for download for digital goods, which is when control of the product transfers to the customer.

We generally assume the role of supplier and act as the principal in these transactions and therefore recognize revenue on a gross basis. At the time of entering into an agreement with the customer, we maintain control of the inventory originally purchased from vendors or suppliers and are viewed as the primary obligor to the customer. We have discretion in establishing pricing for the products, which is established at the time of signing the agreement, and bears certain risks associated with the products, including inventory risk. In these instances, the customer purchases directly from us and looks to us as responsible for fulfillment and resolution of any product-related issues.

Advertising revenue consists of digital advertising services provided through our websites and those of our consolidated Gloo Capital Partners, as well as campaign management services. We offer advertising under fixed-fee campaigns, recognizing revenue ratably over the campaign period, and performance-based arrangements priced on a cost-per-click basis, recognizing revenue as clicks occur. We apply the invoice practical expedient to performance-based advertising, as billings correspond directly to services provided.

We also offer campaign management services which includes strategy and creative consulting services, mail campaigns, digital media campaigns, data and analytics, email campaigns and SMS campaigns. Revenue from these services is recognized over time using an input method based on actual costs incurred relative to budgeted costs. In providing advertising and campaign services, we generally engage third-party vendors for printing, postage, data acquisition and media placement. We act as the principal in these arrangements because it controls the specified services before they are transferred to the customer, we have discretion in selecting and directing vendors, and we are responsible for fulfilling the services. Accordingly, advertising revenues are reported on a gross basis and related third-party costs are recorded in cost of revenue.

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Platform solutions revenue includes services such as strategic consulting, marketing execution, technology enablement and call center operations. We recognize revenue from these services over time as customers simultaneously receive and consume the benefits provided. Certain platform solutions contracts include fees that are subject to a high degree of variability, dependent upon the successful fundraising efforts of our customers. Due to this variability, we constrain revenue to amounts for which it is probable that there will not be a significant reversal of cumulative revenue recognized.

Other revenue recognized arises from contributions received through non-reciprocal funding arrangements. Contributions from nonprofit organizations provide third-party beneficiaries access to our subscription services. Revenue under these arrangements is recognized ratably over the period of time we provide beneficiaries access to the platform, corresponding with the lapse of the donor-imposed conditions.

*Consolidation*

We consolidate all entities that we control through a majority voting interest or as the primary beneficiary of a variable interest entity (VIE). We use, and expect to continue to use, a combination of our equity ownership, governance rights and other contractual arrangements to control operations of these entities. However, these arrangements may not be as effective in providing us with control over these operations as would wholly owning these entities.

Under the VIE model, we are required to perform an analysis as to whether we have a variable interest in an entity and whether the entity is a VIE. If we have a variable interest in an entity, we further assess whether the entity is a VIE and, if so, whether we are the primary beneficiary. Entities that do not qualify as VIEs are assessed for consolidation under the voting interest model. The assessment of whether an entity is a VIE requires an evaluation of qualitative factors and, where applicable, quantitative factors. These judgments include: (a) determining whether the entity has sufficient equity at risk; (b) evaluating whether the equity holders, as a group, lack the ability to make decisions that significantly affect the economic performance of the entity; and (c) determining whether the entity is structured with disproportionate voting rights in relation to their equity interests.

For entities that are determined to be VIEs, we are required to consolidate those entities where we have concluded that we are the primary beneficiary. The primary beneficiary is defined as the variable interest holder with (a) the power to direct the activities of a VIE that most significantly affect the entity's economic performance and (b) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. In evaluating whether we are the primary beneficiary, we evaluate our economic interests in the entity held either directly or indirectly by us. At each reporting date, we determine whether any reconsideration events have occurred that require us to revisit the primary beneficiary analysis, and we will consolidate or deconsolidate accordingly.

We eliminate from our financial results all significant intercompany transactions, including the intercompany transactions with consolidated VIEs.

*Equity Method Investments*

We account for investments in entities over which we have the ability to exercise significant influence, but do not control, under the equity method of accounting in accordance with ASC Topic 323, *Investments* – *Equity Method and Joint Ventures*. These investments are initially recorded at cost and subsequently adjusted to reflect our proportionate share of the investee's net income or loss and any dividends received.

Our share of income or loss is generally determined based on our ownership percentage. However, if contractual agreements specify alternative allocation ratios for profits, losses or distributions, we apply those ratios when deemed substantive.

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Equity method investments are reviewed for impairment whenever significant events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable. When such events or changes occur, we evaluate the fair value compared to our cost basis in the investment. Our investments in non-publicly traded companies require management's assessment of fair value and is based on various valuation methodologies, including discounted cash flows, estimates of sales proceeds and appraisals, as appropriate. We consider the assumptions that we believe a market participant would use in evaluating estimated future cash flows when employing the discounted cash flow or estimates of sales proceeds valuation methodologies. The ability to accurately predict future cash flows may impact the determination of fair value. In the event the fair value of an investment declines below our cost basis, management is required to determine if the decline in fair value is other than temporary. If management determines the decline is other than temporary, an impairment charge is recorded. Management's assessment as to the nature of a decline in fair value is based on, among other things, the length of time and the extent to which the market value has been less than our cost basis; the financial condition and near-term prospects of the issuer; and our intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in market value.

*Business Combinations*

Business combinations are accounted for under the acquisition method of accounting. This method requires, among other things, allocation of the fair value of purchase consideration to the tangible and intangible assets acquired and liabilities assumed, as well as any noncontrolling interests, at their estimated fair values on the acquisition date. The excess of the fair value of purchase consideration over the values of these identifiable assets, liabilities and any noncontrolling interests is recorded as goodwill. When determining the fair value of assets acquired, liabilities assumed and any noncontrolling interests, management makes significant estimates and assumptions, especially with respect to intangible assets. Management's estimates of fair value are based upon assumptions believed to be reasonable but which are inherently uncertain and unpredictable, and as a result, actual results may differ from estimates. The amounts and estimated useful lives assigned to intangible assets acquired in business combinations impact the amount and timing of future amortization expense. During the measurement period, not to exceed one year from the date of acquisition, we may record adjustments to the assets acquired and liabilities assumed, with a corresponding offset to goodwill, if new information is obtained related to facts and circumstances that existed as of the acquisition date. After the measurement period, any subsequent adjustments are reflected in the consolidated statements of operations. Acquisition costs, consisting primarily of third-party legal and consulting costs, are expensed as incurred.

*Capitalized Software*

We capitalize qualifying costs associated with internal-use software when incurred during the application development stage. Capitalization begins once the preliminary project stage has been completed, conceptual design and performance requirements have been finalized, and it is probable that the software will be completed and used as intended. Capitalization ceases when the software is substantially complete and ready for its intended use, which includes completion of all significant testing.

We capitalize costs related to major enhancements and upgrades of internal-use software when such improvements result in additional functionality. Costs for maintenance, minor enhancements and routine repairs are expensed as incurred. Additionally, costs incurred during the preliminary project stage and post-implementation operating activities are charged to expense as incurred.

We also capitalize costs incurred to acquire software for internal use upon acquisition.

Capitalized internal-use software costs are amortized on a straight-line basis over the estimated useful life of three years once the software is ready for its intended use. Management applies judgment in determining when projects transition between stages, evaluating the ongoing value of capitalized software, and establishing estimated useful lives for amortization.

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*Equity-Based Compensation*

We measure and recognize compensation expense for all equity-based awards, including common unit options and profits interests units, granted to employees, directors, and non-employees, based on the estimated fair value of the awards on the date of grant. Generally, equity-based compensation expense is recognized on a straight-line basis over the requisite service period. Forfeitures are accounted for in the period in which they occur.

The fair value of each common unit option and profits interest unit granted is estimated using the hybrid method, which includes the Probability-Weighted Expected Return Method (PWERM) and the Black-Scholes option-pricing model. The determination of the grant date fair value of issued awards is affected by a number of variables, including the fair value of our underlying common units, our expected common unit price volatility over the term of the award, the expected term of the award, risk-free interest rates and the expected dividend yield of our common units.

*Common Unit and Profits Interest Unit Valuation*

Historically, for all periods prior to this offering, the fair value of the shares of common units underlying our share-based awards, and our profits interests units, were estimated on each grant date by our board of directors with input from management and contemporaneous third-party valuations. We believe that our board of directors has the relevant experience and expertise to determine the fair value of our common units. Given the absence of a public trading market for our common units and profits interests units, our board of directors exercised reasonable judgment and considered a number of objective and subjective factors to determine the best estimate of the fair value of our common units and profits interests units, including:

• Our actual operating results and financial performance;

• Conditions in the industry and economy in general;

• The rights, preferences and privileges of our Series A preferred units related to those of our common units;

• The likelihood of achieving a liquidity event for the holders of our common units, such as an initial public offering or a course of staying privately held, given prevailing market conditions;

• Equity market conditions affecting comparable public companies and the market performance of comparable publicly traded companies;

• The U.S. and global capital market conditions; and,

• The lack of marketability of our common units and profits interests units and the results of independent third-party valuations. Valuations of our common units were prepared by an unrelated third-party valuation firm in accordance with the guidance provided by the FASB in ASC 718, ASC 820, as well as the AICPA in its Accounting and Valuation Guide, Valuation of Privately-Held-Company Equity Securities Issued as Compensation.

In valuing our common units, the fair value of our business was determined using various valuation methods, including combinations of income and market approaches, with input from management. The income approach estimates value based on the expectation of future cash flows that we may generate. These future cash flows are discounted to their present values using a discount rate derived from an analysis of the cost of capital of comparable publicly traded companies in our industry or similar business operations as of each valuation date, adjusted to reflect the inherent risks in our cash flows. The market approach estimates value based on a comparison to comparable public companies in a similar line of business and may also include backsolves, which infers our value from recent financing rounds or tender offers. From these comparable companies, a representative market value multiple is determined and then applied to our financial forecasts to estimate its value.

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For each valuation, the enterprise value determined by the income and/or market approaches was then allocated to the common stock using the option pricing method, or OPM, or a hybrid of the PWERM and OPM, which estimates the probability weighted value across multiple scenarios but uses OPM to estimate the allocation of value within one or more of those scenarios.

The OPM method allows for the allocation of a company's equity value among the various equity capital owners. The OPM uses the preferred unitholders' liquidation preferences, participation rights, dividend policy and conversion rights to determine how proceeds from a liquidity event shall be distributed among the various ownership classes at a future date. The PWERM method involves the estimation of future potential outcomes for the company, as well as values and probabilities associated with each respective potential outcome. This method is particularly useful when discrete future outcomes can be predicted at a relatively high confidence level with a probability distribution. Discrete future outcomes considered under the PWERM include a liquidity event, as well as non-liquidity event market-based outcomes. Determining the fair value of the enterprise using the PWERM requires the development of assumptions and estimates for both the probability of a liquidity event and stay private outcomes, as well as the values those outcomes could yield.

The application of these approaches and methodologies involves the use of highly complex and subjective estimates, judgments and assumptions, such as those regarding our expected future revenue, expenses and cash flows; discount rates; market multiples; the selection of comparable public companies; and the probability and timing of possible future events. Changes in any or all of these estimates and assumptions, or the relationships between those assumptions, impact our valuations as of each valuation date and may have a significant impact on the valuation of our common units.

For valuations after the completion of this offering, the board of directors will determine the fair value of each share of underlying common stock based on the closing price of our common stock as reported on the date of grant. Future expense amounts for any particular period could be affected by changes in our assumptions or market conditions.

*Derivative Liabilities*

We account for our warrants and other derivative financial instruments as either equity or liabilities based upon the characteristics and provisions of each instrument, in accordance with ASC 815. Warrants classified as equity are recorded at fair value as of the date of issuance on our consolidated balance sheets and no further adjustments to their valuation are made. Warrants classified as derivative liabilities and other derivative financial instruments that require separate accounting as liabilities are recorded on our consolidated balance sheets at their fair value on the date of issuance and will be revalued on each subsequent balance sheet date until such instruments are exercised or expire, with any changes in the fair value between reporting periods recorded as other income or expense. Management estimates the fair value of these liabilities using option pricing models and assumptions that are based on the individual characteristics of the warrants or instruments on the valuation date, as well as assumptions for future financings, expected volatility, expected life, yield, and risk-free interest rate.

*Complex Financial Instruments*

We do not use derivative instruments to hedge exposures to cash flow, market or foreign currency risks. We evaluate our financial instruments, including options, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. We value derivatives using the Black-Scholes option-pricing model or other acceptable valuation models. Derivative instruments are valued at inception, upon events such as an exercise of the underlying financial instrument and at subsequent reporting periods. The classification of derivative instruments, including whether such instruments should be recorded as liabilities, is re-assessed at the end of each reporting period.

We review the terms of debt instruments, equity instruments and other financing arrangements to determine whether there are embedded derivative features, including embedded conversion options that are required to be bifurcated and accounted for separately as a derivative financial instrument.

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*Accounting for Impairment for Goodwill*

Goodwill and indefinite-lived intangible assets are not amortized, but instead are evaluated for impairment annually or more often if indicators of a potential impairment are present. Our annual impairment tests are conducted during the fourth quarter. When we believe it is appropriate, we may elect to first perform the optional qualitative assessment for certain of our reporting units. Factors considered in this assessment include economic, industry and company-specific factors in assessing the fair value of the related reporting unit. If we determine that it is more likely than not that the fair value of the reporting unit is less than its carrying value, a quantitative test is then performed. Otherwise, no further testing is required. For those reporting units tested using a quantitative approach, we compare the fair value of each reporting unit with the carrying amount of the reporting unit, including goodwill. If the estimated fair value of the reporting unit is less than the carrying amount of the reporting unit, impairment is indicated, requiring recognition of a goodwill impairment charge for the differential (up to the carrying value of goodwill).

We determine the fair value of our reporting units using a combination of the income and market approaches. Under this hybrid approach, we calculate the fair value of our reporting unit based on the present value of future cash flows equally weighted with valuations based on trading multiples derived from publicly traded companies that are most similar to our reporting unit. Considerable management judgment is necessary to evaluate the impact of operating and macroeconomic changes and to estimate the future cash flows used to measure fair value and to identify comparably public company multiples. Our estimates of future cash flows consider past performance, internal projections and operating plans which incorporate estimates for sales growth and profitability, and cash flows associated with taxes and capital spending. We believe such assumptions also reflect current and anticipated market conditions and are consistent with those that would be used by other marketplace participants for similar valuation purposes. Such assumptions are subject to change due to changing economic and competitive conditions.

**Recent Accounting Pronouncements**

See Note 2, *Summary of Significant Accounting Policies* to our consolidated financial statements included elsewhere in this prospectus for recently adopted accounting pronouncements and recently issued accounting pronouncements not yet adopted as of the date of this prospectus.

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**Material Weakness in Internal Control over Financial Reporting**

A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis. Management identified three material weaknesses in our internal control over financial reporting relating to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•an ineffective information technology general control (ITGC) environment due to improper logical access, change management and computer operations controls within (1) certain enterprise resource planning systems (ERPs), (2) other third-party financial systems integrated to these ERPs and utilized for financial reporting purposes and (3) internally developed systems used for financial reporting purposes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•improper segregation of duties within (1) certain enterprise resource planning systems (ERPs), (2) other third-party financial systems integrated to these ERPs and utilized for financial reporting purposes, (3) internally developed systems used for financial reporting purposes and (4) various business processes impacting financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•a lack of financial close and reporting controls that are sufficiently precise, performed consistently, timely, and documented.

We are in the process of implementing remediation plans to address these material weaknesses. However, we cannot guarantee that these remediation efforts will be successful or that additional material weaknesses will not be identified in the future. See the section titled "Risk Factors—Risks Related to Regulation and Taxation—We identified material weaknesses in our internal control over financial reporting in connection with the preparation and audit of our financial statements for the fiscal years ended January 31, 2024 and 2025, and we may identify additional material weaknesses in the future that may cause us to fail to meet our reporting obligations or result in material misstatements of our financial statements. If we fail to remediate existing material weaknesses, identify additional material weaknesses or fail to establish and maintain effective internal control over financial reporting, our ability to accurately and timely report our financial results could be adversely affected."

**Quantitative and Qualitative Disclosures About Market Risk**

As a "smaller reporting company," as defined in Rule 12b-2 of the Exchange Act, we are not required to provide the information required by Item 305 of Regulation S-K.

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**BUSINESS**

**Our Mission and Purpose**

Gloo's mission is to build the leading vertical technology platform for the faith and flourishing ecosystem, which we believe is one of the largest, oldest and least-digitized ecosystems in the world. Our purpose is to shape technology as a force for good, so people can flourish and communities can thrive. This is grounded in our belief that relationships catalyze growth, and when technology is used to serve relationships, it transforms lives.

The faith and flourishing ecosystem is vast and, we believe, a technologically underserved vertical that includes traditional Christian (primarily Protestant and Catholic) churches and a diverse network of ministries, nonprofits and service providers. According to a 2016 analysis conducted by the Interdisciplinary Journal of Research on Religion, the faith sector, including all religions of which Christianity is the largest in America, contributes approximately $1.2 trillion to the United States economy each year. According to IBISWorld, Christian organizations, which comprise our primary customer focus, accounted for 88% of the aggregate revenue of religious organizations in the United States in 2024. Although we have not undertaken an independent analysis to estimate the total addressable market for all of our current offerings or determined with precision the portion of this market that we may serve, we are confident that Gloo has substantial opportunities for continued growth. In the United States alone, the faith and flourishing ecosystem is estimated to include over 415,000 Christian organizations, comprised of over 315,000 Christian congregations according to the 2020 U.S. Religion Census by the Association of Statisticians of American Religious Bodies, as well as over 100,000 Christian nonprofit organizations according to the Cause IQ directory of nonprofits as of July 2025.

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**Overview**

Since our founding in 2013, we have offered a breadth of products, services and solutions to the two primary stakeholders at the core of the faith and flourishing ecosystem, network capability providers (NCPs) and the churches and frontline organizations (CFLs) they serve.

NCPs play an enabling role in the faith and flourishing vertical by equipping CFLs with products and services so CFLs can focus on their mission. These products and services include technology solutions, content, marketing services and donor services. CFLs serve as the heart of the faith and flourishing ecosystem, and include churches, ministries, nonprofits and service organizations, providing worship, educational programs, community outreach efforts and other social services support.

We have established a platform that connects NCPs and CFLs and facilitates sales of products and services between the two groups. Through our platform, CFLs gain access to curated resources and NCPs benefit from targeted distribution of their products and services to members of the ecosystem. The Gloo platform includes a suite of technology, marketplace, advertising and service solutions offered directly by us and by our wholly owned or consolidated subsidiaries, which we refer to as Gloo Capital Partners.

We generate revenue from NCPs through sales of enterprise subscriptions to outsourced technology, artificial intelligence (AI) capabilities and advertising (all of which we account for as platform revenue), as well as platform solutions. We generate platform revenue from CFLs through sales of subscriptions to communication tools, content libraries, data insights and AI capabilities, as well as through transactions on our and Gloo Capital Partners'<br>e-commerce marketplaces, including Outreach, Inc., our largest online marketplace.

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We launched our company by offering free tools and services to CFLs, such as messaging and texting services, curated content and access to resources, with the goal of addressing widespread communication and engagement challenges between CFLs and their constituents. This strategy allowed us to accumulate a large and diverse user base of CFLs, while also continuing to develop more products and solutions. From the outset, our focus has been to create infrastructure for the faith and flourishing ecosystem that enables greater coordination among its participants and unlocks value for both NCPs and CFLs. We believe there is significant market fragmentation in the ecosystem and, to our knowledge, no other company has aggregated a comparable breadth and diversity of churches and faith-based organizations. We believe this scale and scope positions Gloo as a unifying force in the ecosystem and creates a meaningful and durable competitive advantage.

The strength of our platform today is the result of a deliberate sequence of strategic initiatives. These are described below and include catalyzing large-scale engagement through national media campaigns, such as State of the Church, He Gets Us and Churches Care, and expanding our platform through acquisitions and investments.

In fiscal 2023, Gloo was chosen to provide technology infrastructure for He Gets Us, a large national faith-aligned media campaign. This campaign created engagement between campaign audiences and thousands of participating churches. The campaign drove significant platform adoption by churches and accounted for the majority of our fiscal 2023 revenue, helping to establish Gloo as a central connector in the faith and flourishing ecosystem.

To expand on this momentum, we acquired Outreach in fiscal 2024. According to Grips, an e-commerce research and comparison tool, Outreach is a leading business-to-business provider of church-focused products and services. The acquisition provided us with one of the largest faith-based e-commerce marketplaces in the world, added thousands of CFLs to our platform and accounted for 87.8% of total revenue in fiscal 2024.

Together, the He Gets Us campaign and our Outreach acquisition significantly increased the scale and reach of our platform, bringing tens of thousands of new CFLs to the platform. Beginning in the first quarter of fiscal 2025, we further diversified our revenue by adding new offerings to our platform, including advertising and enterprise-level solutions, now driven by Gloo360, our technology, data and consulting services offered to larger faith and flourishing organizations through enterprise subscriptions. For the six months ended July 31, 2024, we generated the majority of our revenue from sales of products and services through Outreach, and for the six months ended July 31, 2025, one third of our revenue was generated from Outreach.

We have scaled our platform through a combination of product innovation, customer growth and product suite penetration, as well as targeted acquisitions and investments in several NCPs with complementary technologies, products and customer relationships. These efforts have expanded our capabilities and diversified our growth across multiple growth drivers:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•acquisition-led growth through targeted acquisitions of NCPs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•enterprise-led growth through high-touch, relationship-based sales to NCPs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•digital-led growth through search engine optimization, marketing and paid advertising to CFLs to invite users to experience our platform's value through free trials, freemium models and self-service onboarding; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•AI-transformation growth through developing and selling AI capabilities to CFLs and NCPs designed to streamline operations, enhance content creation and improve community engagement.

Looking ahead, we are focused on growing our platform across subscriptions, advertising, marketplace transactions and NCP platform solutions. We are actively investing in and growing the Gloo Media Network, which provides marketing and advertising services to and through NCPs. In parallel, we are developing Gloo AI, our proprietary AI infrastructure designed to enable new applications for engagement, data insights and content creation to serve NCPs, publishers, content creators, denominations, donor platforms and developers. We also expect to continue to pursue strategic acquisitions and investments that expand platform capabilities, deepen integration across ecosystem participants and solidify our position as a trusted, unifying platform for the faith and flourishing ecosystem.

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**The Faith and Flourishing Ecosystem**

The faith and flourishing ecosystem constitutes a large and expanding cornerstone of our country. It encompasses all religions and is estimated to contribute over $1.2 trillion annually to the U.S. economy in 2016 and to include over 450,000 organizations in the United States. According to research conducted by IBISWorld, in the United States, the religious organizations sector employed approximately 1.7 million people in 2024 and is forecasted to increase to approximately two million by 2029. The ecosystem is not limited to churches; it also includes ministries, service organizations, educational institutions, health providers, nonprofits and other values-aligned organizations.

![img208649791_21.jpg](img208649791_21.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•According to two separate studies conducted by Barna Group, a Gloo Capital Partner, and Pew Research Center across 2023 and 2024, more than 60% of Americans identify as Christian.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Christian congregations range in size and structure, from large megachurches to small community gatherings, often affiliated with denominations and networks. According to the 2020 U.S. Religion Census, more than 315,000 Christian congregations operate across the country.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Religious participation remains a cornerstone of American life, bolstered by a culture of charitable giving. According to Pew Research Center, 33% of Americans attend a religious service monthly, making worship one of the most regular and widespread social gatherings in the country.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•According to 2025 Kentley Insights, from 2019 through 2023, religious organization revenue for all religions combined grew at a compound annual growth rate of 8.6% per year in the United States. This growth rate outpaced the 6.2% average for service industries in the same time period and ranked religious organizations in the top 20% of all service industries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The growth rate is estimated to be 6.6% in 2024 and forecasted at 4.9% in 2025. According to 2025 Kentley Insights, faith-based organizations of all religions generated over $245 billion in revenue in 2024.

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The importance of faith in American life extends across generations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Younger generations are increasingly stepping into philanthropic roles. According to a Giving USA Special Report from 2024, Millennials and Gen Z, often presumed to be less religiously affiliated, are showing renewed engagement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•According to the same report, Gen Z donors more than doubled their giving to faith-based organizations between 2021 and 2024, while Millennials reported a 57% increase in donations to places of worship in the same time period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•According to Barna, weekly church attendance is the strongest among Millennials, with nearly 40% reporting regular worship attendance as of 2022, suggesting a generational renewal in the faith landscape.

Religious organizations also play a pivotal role in broader philanthropic and social service landscapes. Faith-based entities operate a substantial portion of the nation's hospitals and educational institutions and have historically been major recipients of federal grants for social services.

***Human Flourishing***

The faith and flourishing ecosystem is far broader than churches alone. It includes a diverse set of for-profit and nonprofit organizations that help humans flourish across seven essential areas of life: spirituality, relationships, purpose, finances, health, character and contentment.

We define human flourishing as holistic well-being in these seven dimensions, a definition rooted in scripture, philosophy and psychological research. We believe that the rapid evolution of AI and other new technologies has the potential to either accelerate or undermine human flourishing. Gloo exists to help ensure that technology is shaped as a force for good. Our product development is informed by the ongoing Global Flourishing Study, a collaboration between Harvard, Baylor and Gallup, based on data from over 200,000 people across 22 countries.

Our platform serves organizations that specialize across the seven dimensions of the Global Flourishing Study framework, which are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Spirituality**: churches, ministries, Christian universities, seminaries

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Relationships**: counseling centers, parenting and marriage resources, community outreach organizations

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Purpose**: vocational training, community development, philanthropic networks

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Finances**: nonprofit lending, values-aligned insurance, human resources and retirement plans

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Health**: addiction recovery, mental health, wellness services, anti-trafficking organizations

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Character**: values-aligned content including faith-based films and digital media

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Contentment**: assessment tools, values-aligned publishers, wellness apps

Our platform connects and equips thousands of human flourishing organizations representing these dimensions, empowering them to serve millions of people within what we believe is one of the most resilient and purpose-driven verticals in the modern economy.

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**The Gloo Platform**

Our platform is built on four revenue streams: subscriptions, advertising and marketing, marketplace offerings and platform solutions. Gloo AI is increasingly integrated with our solutions, which we are designing to work seamlessly together to enable data exchange, machine learning, large language models, content licensing, content delivery and services to flow across the faith and flourishing ecosystem. Several of our existing products are AI-native tools and agents that incorporate AI from the beginning of their lifecycle, however, some of our Gloo Capital Partners are still early in their AI adoption with AI powering a small but growing number of their current products and services.

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***Subscriptions***

We offer free, premium and enterprise subscription-based software and solutions to NCPs and CFLs. These offerings represent the foundational layer of the Gloo platform, enabling NCPs and CFLs to communicate, organize and operate more effectively. Our subscription offerings generate revenue through monthly and annual subscription agreements. For the six months ended July 31, 2025, approximately 70% of our revenue was recurring and re-occurring. Recurring revenue is derived from monthly or annual subscriptions and ongoing contracts, and accounted for approximately 44% of our total revenue for the six months ended July 31, 2025. Re-occurring revenue is derived from repeat customer purchases, most often of digital and physical products from Outreach, and accounted for more than 20% of our total revenue for the six months ended July 31, 2025.

*Gloo Workspace*

Gloo Workspace is a single, online entry point for resources designed to help a pastor or ministry leader lead, grow and operate his or her church or ministry, including content and insights, communications, tools, data insights and an e-commerce marketplace. Gloo Workspace offers proprietary AI-powered products for CFLs to understand and engage with the people they serve and their communities. Through Gloo Workspace, registered users can access our free communications product, which enables automated SMS text and email outreach. Paying users can subscribe to Gloo+, a premium subscription that includes tools that we and Gloo Capital Partners have developed for enhanced engagement, sermon preparation, generative AI content creation and audience analytics. Gloo+ is designed to provide a comprehensive view of community needs, presenting patterns and trends benchmarked against peer organizations. Gloo+ also provides discounted subscriptions to our full suite of software products. Registered users can also subscribe to these products individually through Gloo Workspace or through the websites of our Gloo Capital Partners.

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The suite of software products and licenses that we offer to CFLs include:

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*Gloo360*

Gloo360 launched in the first quarter of fiscal 2025 and provides NCPs with subscription-based enterprise technology, data and consulting to support growth and operations. Through annual subscriptions, Gloo360 provides a comprehensive suite of solutions that includes cloud services and managed information technology (IT), cybersecurity and data protection, business intelligence and strategic consulting, custom software and digital solutions, helpdesk support, project management and e-commerce infrastructure.

Our IT systems and customer-facing services are delivered through a combination of in-house and third-party infrastructure. More specifically, Gloo360 maintains proprietary software and workflow tools that are hosted on third-party cloud service providers, including Amazon Web Services. These third-party providers furnish the underlying compute, storage and networking resources, while Gloo360 configures, manages and integrates these environments to deliver secure, scalable solutions to our customers. In addition, we deliver technology development and infrastructure services through our Gloo Capital Partners, Servant.io and Midwestern Interactive (Midwestern).

As part of Gloo360, we also provide ongoing management and administration of customer IT systems that are themselves third-party products, such as Salesforce, Microsoft Office 365 and other enterprise applications. In these cases, Gloo360 acts as the managed service provider, configuring, customizing, securing and supporting such systems on behalf of its customers, while the underlying software and infrastructure remain licensed from and operated by the third-party vendors.

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***Advertising and Marketing***

*Gloo Media Network*

Gloo Media Network is our suite of advertising technologies, marketing technologies and services. In fiscal 2024, we generated advertising revenue by selling advertising placements across Gloo-owned and -managed media properties. We are expanding this effort by further developing these offerings to help our customers engage donors. Gloo Media Network enables advertisers to reach and engage values-aligned audiences through targeted, data-informed advertising on Gloo-owned and -managed media properties. We believe Gloo Media Network will position us to become a leading media network for the faith and flourishing ecosystem.

Advertising placements on our platform, Outreach and other Gloo Capital Partner websites are offered through both audience-based and cost-per-click models. In addition, we expect Gloo Media Network will deliver full-service marketing capabilities, including creative services, campaign strategy and audience targeting.

We acquired Masterworks, Inc., a full-service marketing technology and donor engagement agency dedicated to values-aligned nonprofits and ministries, in the second quarter of fiscal 2025. We believe Masterworks will be a foundational part of the Gloo Media Network because Masterworks brings a deep technology stack and expertise in donor engagement, creative development and digital and physical marketing capabilities to our platform. Masterworks' offerings are supported by its robust analytics and predictive modeling, which we believe will enhance campaign performance, expand distribution across the Gloo Media Network and drive both advertising revenue and marketing services growth.

*Outreach*

The Outreach portfolio of online brands also produces and curates ministry-specific content and resources that drive traffic by CFL leaders and generate advertising revenue. These brands include the following:

![img208649791_24.jpg](img208649791_24.jpg)

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***Marketplace***

We operate e-commerce marketplaces that enable CFLs to discover and purchase a combination of free and paid, physical and digital products, including curriculums, marketing collateral and church supplies from a select group of NCPs that serve the needs of the faith and flourishing ecosystem. Customers can access the marketplaces through Outreach and directly from Gloo Workspace.

Outreach brings many longstanding customer relationships allowing for targeted go-to-market CFL products, services and campaigns that increase product visibility and accelerate adoption. By leveraging this well-established brand, we are able to drive revenue. Sales through Outreach accounted for 98.3% and 96.4% of our marketplace revenue in fiscal 2024 and for the six months ended July 31, 2025, respectively. Revenue is generated through recurring, re-occurring and one-time marketplace purchases of physical and digital products.

***Platform Solutions***

We deliver enterprise-level infrastructure and technology development services to NCPs, enabling their digital transformation. Our current and paying customers, to whom we provide full-service technology development, include some of the faith and flourishing ecosystem's most well-known brands, including YouVersion (a Bible app) and Come and See Foundation (The Chosen TV series). Our current infrastructure and technology development services are delivered primarily through two Gloo Capital Partners, Servant.io and Midwestern, which also provide technology development for Gloo's internal engineering teams. Platform solutions generate revenue through monthly and annual contracts with NCPs seeking scalable infrastructure, operational leverage and long-term strategic alignment.

Servant.io and Midwestern are digital and technology consultancies that offer specialized expertise in the faith and flourishing ecosystem, providing growth strategy, workflow automation and product development by leveraging the Gloo platform. Our teams bring deep experience in working with ministries and nonprofits, delivering services such as web and application design, product design and embedded talent solutions. These capabilities help customers scale digital experiences, maintain and modernize technology infrastructure and accelerate delivery.

**Our Growth Drivers**

Our platform is built to capitalize on powerful network flywheel effects created through the addition of more NCPs, CFLs and their offerings to our platform, as illustrated below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**More NCPs Join the Platform**: Gloo attracts mission-aligned NCPs onto our platform.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Creates More Subscription and Marketplace Offerings**: More NCPs joining the platform leads to more technology and marketplace offerings on our platform.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Activates More CFLs and Platform Frequency**: As offerings grow, more CFLs engage with the platform, increasing adoption, daily usage and purchasing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**More Data and Content**: With increased scale of CFLs, Gloo advances proprietary AI capabilities.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Provides More Value to NCPs and CFLs and Generates Diversified Revenue Streams**: The entire ecosystem drives subscription, advertising, marketplace and platform solutions revenue.

![img208649791_25.jpg](img208649791_25.jpg)

This flywheel is accelerated by our four core growth drivers:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Acquisitions and Investments**: We expect acquisitions and investments to be the primary driver of our revenue growth. We focus on strategic acquisitions of, and investments in, NCPs to further expand the capabilities and users on our platform. However, we do not currently intend to use the proceeds from this offering for any specific acquisition or investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Enterprise Sales**: Our enterprise sales team focuses on sales of Gloo360, sales of advertising and platform solutions to NCPs and adding NCP offerings to our platform.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Digital Growth**: Our digital growth team focuses on adding CFLs to our platform through digital-led marketing and lead generation, accelerating flywheel effects.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**AI Transformation**: We are developing easy-to-deploy AI capabilities for CFLs and NCPs that are designed to streamline operations, enhance content creation and improve community engagement.

![img208649791_26.jpg](img208649791_26.jpg)

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***Acquisitions and Investments***

Gloo Capital Partners refers to the portfolio of organizations that we have acquired or in which we hold a consolidating interest to expand the breadth, depth and value of our platform. These mission-aligned businesses represent core strategic assets that expand our capabilities across media, content, software and services. By integrating these businesses into our platform and go-to-market infrastructure, we seek to enhance product offerings, deepen network engagement and drive scalable impact across the faith and flourishing ecosystem.

Through July 31, 2025, we have acquired a full or consolidating interest in more than 15 mission-aligned Gloo Capital Partners that develop and sell products through online marketplaces or provide software and solutions to the faith and flourishing ecosystem, through transactions that qualified as either business combinations or asset acquisitions. Revenue generated by Gloo Capital Partners accounted for a substantial percentage of our revenue in fiscal 2024 and for the six months ended July 31, 2025, which we believe is indicative of the critical role of Gloo Capital Partners in our platform expansion and value creation.

We pursue a focused two-tiered investment strategy:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Full Acquisitions** – Companies can be fully integrated into Gloo's core infrastructure and tech stack, expanding the platform's capabilities and broadening its native offerings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Consolidated Businesses** – Companies operate under their own brand while leveraging Gloo's technology and ecosystem relationships to drive adoption, accelerate integration and contribute to the platform flywheel.

Our initial acquisitions and investments were in smaller scale companies with $1-2 million in annual revenue and with products and services that were consolidated into our platform. More recently, the scale of our acquisitions and investments have grown to larger companies with $5-40 million in annual revenue, and a subset of those larger companies maintain their standalone brands and substantial control over their day-to-day operations. Moving forward, we expect to continue to pursue strategic acquisitions and investments that expand our platform capabilities, deepen integration across ecosystem participants and solidify our position as a trusted, connected platform for the faith and flourishing ecosystem.

We evaluate acquisition opportunities against four strategic criteria:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Customer and revenue alignment with ecosystem participants and growth objectives

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Core technologies that advance our AI capabilities

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Content alignment that strengthens our role as an aggregator of faith and flourishing content

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•EBITDA fundamentals that contribute to profitability

This approach is designed to scale intentionally while increasing platform utility, strategic reach and long-term value that is competitive and defensible.

At the heart of our acquisition and investment model is a guiding principle: we serve those who serve. We believe that we grow stronger when our Gloo Capital Partners grow stronger. We offer value to Gloo Capital Partners by providing them with a shared service layer that includes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Marketing and communications solutions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Sales funnel development and management

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Brand architecture, positioning and messaging

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Financial reporting and accounting capabilities

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Accountability and business operating systems

***Enterprise Sales***

NCPs are an integral part of our business, delivering their offerings to CFLs through our platform while also purchasing platform capabilities and services to power their own operations. Through our enterprise NCP sales model, we engage directly with NCPs to provide access to our technology and advertising services, Gloo360 technology services and platform solutions. Our approach is designed to fuel platform expansion by onboarding new offerings and driving sustained customer growth.

Additionally, we intend to offer Gloo Impact, which is a product in beta that we are designing to enhance philanthropic outreach and charitable contributions by visualizing real time impact through AI generated data dashboards, escrow-like fund management and capital deployment based on verified milestones of ministry outcome. This potential growth driver holds money in escrow within a donor impact fund, distributes that money to qualified NCPs or CFLs based on verifying milestone achievement and visualizes the outcomes with a real-time impact dashboard.

***Digital Growth***

Our self-service onboarding gives users access to Gloo Workspace and is designed to empower churches to independently access both free and premium tools, driving scalable, organic adoption across the platform. With platform adoption growing to over 140,000 churches and ministry leaders as of July 31, 2025, up from 74,000 as of January 31, 2024, we offer a ready-made distribution channel for NCPs and a powerful engine for potential reach, engagement and recurring revenue.

***AI Transformation***

We are developing vertical-specific, values-aligned AI designed to serve the unique needs of the faith and flourishing ecosystem. Our AI approach is primarily developed by us but accelerated through third-party, open-source foundation models. For example, our data engine, ingestion, enrichment and other business logic and domain-specific fine-tuning are all internally developed and proprietary, while many of our conversational and generative AI features and APIs are underpinned by third-party and open-source base models.

*Strategic Areas of AI Development*

Our strategy is to lead AI deployments in three important areas:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Values-Aligned AI** – AI designed to help humans flourish in all areas of life based on flourishing principles, rather than optimizing for engagement metrics that may harm mental health.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Language and Voice AI** – World-class translation and voice technology that serves a large number of languages and prioritizes underserved populations where AI is not yet available in their language. We expect this to be further enhanced after our pending acquisition of XRI Global, a leading provider of AI-driven language and translation technologies for the faith and flourishing ecosystem.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**AI Licensing** – Facilitating the exchange that gives AI companies and developers ethical access to high-quality content with fair compensation models for publishers and creators.

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*AI Product Maturity Framework*

In our suite of products and services, we distinguish between three stages of AI maturity: AI-native, AI-enhanced or early AI-adoption and non-AI enhanced. This framework helps illustrate where AI is embedded from inception and where it is being incrementally integrated.

<u>AI-Native Products and Services</u>

These are architected with AI at their core, leveraging our proprietary multi-agent orchestration, data engine and licensing infrastructure:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Gloo AI Chat** – Our flagship conversational AI tool, providing multimodal values-aligned experiences grounded in spiritual wisdom, ethical guidance and practical life support. Architected with retrieval-augmented generation (RAG) pipelines, profile- and memory-aware inference and rights-aware sourcing, Gloo AI Chat serves business-to-business teams, enterprises and white-label deployments. It is currently in beta and is expected to launch this fall.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Gloo AI Data Engine** – A proprietary enrichment and retrieval service that transforms raw content, including books, sermons, transcripts and media, into structured, AI-optimized knowledge bases. Through ingestion, tagging, indexing and enrichment pipelines, it produces transcripts, metadata, embeddings and derivative assets optimized for semantic retrieval and integration into AI tools.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Gloo AI APIs** – Developer-facing services for enrichment, retrieval, inference and orchestration. These include:

o**Data Engine Service API** – enabling ingestion and enrichment of content.

o**Search API** – hybrid semantic and symbolic search across theological, scriptural and flourishing categories.

o**Completions API** – orchestrated inference routed through expert models and tool agents.

o**Chat API** – retrieval-augmented conversational output with citations and values alignment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Gloo AI Licensing Platform** – A transparent digital rights management and licensing infrastructure that enables ethical access to content for AI training and inference. It embeds enforceable licensing terms, attribution and automated royalty distribution, giving publishers and creators control and revenue while allowing developers to safely integrate licensed content.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Church.Tech** – Soon to be integrated into Gloo Workspace, an AI-native platform for ministry operations that acts as a content studio for churches. Designed from inception as an AI-first product, it enables pastors and ministry leaders to generate, adapt and distribute content using values-aligned generative AI.

<u>AI-Enhanced or Early AI-Adoption</u>

These are established products where AI features are being introduced to augment existing workflows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Gloo Workspace** – A comprehensive platform for pastors and ministry leaders that incorporates AI to support communications, sermon preparation, community engagement insights, generative content and outcome measurement. It also offers Gloo+, a subscription tier with enhanced engagement and analytics tools.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Gloo360** – Enterprise services that leverage AI for managed operations, advanced analytics, agentic workflows, recommendation systems and custom enterprise builds for faith-based organizations.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Visitor Reach** – A product embedding AI to optimize outreach strategies and improve church visitor engagement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Carey Nieuwhof Platform** – Experimenting with AI-powered content generation, personalization and recommendation features for ministry and leadership resources.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Igniter Media –** Integrating AI into its creative content platform to enhance media discovery, automate tagging and recommendations, and provide churches with generative tools for producing and customizing visual and video assets.

For these products, AI is not yet the foundational architecture, as is the case for the majority of software products today, but rather a growing set of enhancements layered onto proven products. Over time, many of these offerings are expected to evolve toward AI-native states.

*Proprietary, Open Source, Licensed and Frontier AI*

All of our AI products rely on a hybrid approach:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Proprietary AI** – Gloo-developed orchestration, domain-specific fine-tuning, RAG pipelines, alignment and safety layers, licensing enforcement and data enrichment systems. These represent the core of our proprietary AI.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Open Source AI** – We are model-agnostic and accelerate development through widely adopted open-source large language models, such as LLaMA, Qwen and DeepSeek, which we fine-tune and RAG-enhance using our proprietary methods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Licensed AI** – Where beneficial, we incorporate licensed AI frameworks, such as LangChain, Open Meter and Weaviate, or specialized APIs to complement our proprietary AI.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Frontier AI** –We use major frontier AI technologies from providers such as OpenAI, Anthropic and Google to provide values-aligned AI capabilities to the faith and flourishing ecosystem, but we are not substantially dependent on any single frontier LLM provider. We are selectively modest on the use of these technologies.

Our hybrid approach to AI allows us to benefit from global advances in open-source and frontier AI while maintaining differentiation through our proprietary orchestration, datasets and alignment layers.

*Datasets and Training Sources*

Our AI products are differentiated by one of the largest vertically aligned datasets for faith and flourishing, covering books, sermons, media and academic content. Our models and applications are trained and grounded on a combination of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Internal Datasets** – Gloo and Gloo Capital Partner-owned content ingested and enriched by the Gloo AI data engine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Licensed Datasets** – Subset of faith-based publishers, ministries and creators who have licensed their content managed by the Gloo AI licensing platform.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Public Datasets** – Responsibly sourced open content that complements proprietary and licensed corpora.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Synthetic Datasets** – AI-generated content and datasets produced through proprietary approaches.

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All datasets are peer-reviewed by theological and domain experts to ensure accuracy, alignment and trustworthiness.

*Ecosystem and Partnerships*

Beyond our internal products, Gloo AI is integrated into Gloo Capital Partner offerings. We are also seeing strong traction with developers, publishers and next-generation content providers. We are in active discussions with several leading faith-based technology platforms to power new audio, language and conversational capabilities through Gloo AI. We believe these potential partnerships will accelerate adoption of Gloo AI across the global faith ecosystem.

**Our Customers**

Our customer base spans a diverse range of NCPs and CFLs within the faith and flourishing ecosystem and we served more than 57,000 paying customers as of July 31, 2025. Our platform is tailored to this vertical and is designed for NCPs and CFLs that seek modern, scalable solutions for engagement, communication and resource management. We offer customers essential foundational features for free to lower adoption barriers. Premium features, available through Gloo+ and Gloo Capital Partners, cater to mid-size and large organizations with more complex needs that include advanced analytics, custom content and expanded outreach capabilities. We prioritize accessibility and drive to monetization through conversion as organizations grow and require additional services.

Gloo customers include some of the most influential NCPs and CFLs in the faith and flourishing ecosystem. We believe the following current and paying customers are indicative of our diverse customer base:

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| | |
|:---|:---|
| &nbsp;&nbsp;**Churches and Frontline Organizations** | &nbsp;&nbsp;**Network Capability Providers** |
| &nbsp;&nbsp;CFLs of various sizes and influence pay Gloo for subscriptions, e-commerce marketplace products, services and platform solutions. For example: <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Giga Churches** (>10,000 congregants): Seacoast Church (SC) and North Coast Church (CA)<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Mega Churches** (>2,000 congregants): The Park Church (NC) and NorthPointe Community Church (CA)<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Small-Mid Sized Churches and Ministries**: over 2,000 throughout the United States<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Flourishing-Based Frontline Organizations** | &nbsp;&nbsp;NCPs offer a range of services and programs to the faith and flourishing ecosystem and primarily pay Gloo for Gloo Media Network and/or Gloo360. For example:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Humanitarian Aid**: Compassion International<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Content and Media**: Right Now Media, MomCo and Come and See Foundation (The Chosen TV series)<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Operational Services**: Wesleyan Investment Foundation (financial loans), Westfall Gold (donor services) and Vanderbloemen (executive search)<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Education**: Indiana Wesleyan University |

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**Our Competitive Strengths**

Connecting what we believe to be one of the largest ecosystems in humanity requires a diverse set of skills and strengths. We believe our competitive strengths include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Connecting a Large, Diverse and Fragmented Faith and Flourishing Ecosystem** – With over 140,000 churches and ministry leaders and over 3,000 active NCPs on our platform as of July 31, 2025, we believe we have built a trusted digital environment at scale in the faith and flourishing ecosystem. To our knowledge, no other company has aggregated a comparable breadth and diversity of ecosystem participants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Differentiated Access to Ecosystem Relationships** – We believe our ability to convene the ecosystem is a core differentiator. This is rooted in our extensive relational capital, cultivated through over ten years of trust-building and delivering value to the ecosystem. We facilitate dialogues that lead to actionable solutions and strengthened partnerships, contributing to current and future customers, as well as Gloo Capital Partner acquisitions and investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Developing AI for the Faith and Flourishing Ecosystem** – As a pioneer in leveraging AI specifically for the faith and flourishing ecosystem, we believe Gloo is positioned to unite stakeholders (including publishers, developers and consumers) around the transformative potential of AI and to further expand our revenue models. We are uniting AI experts, theologians and ministry leaders in co-creating solutions that are designed to be ethical, effective and aligned with the values of human flourishing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Demonstrated Strategic Vision and Execution** – As of July 31, 2025, we have executed more than 15 strategic investments and acquisitions across key segments of the faith and flourishing ecosystem, integrating high-value NCPs with proprietary products, strong customer relationships and established market presence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Experienced Board and Management Team** – We are led by what we believe is a world-class board and executive team with deep expertise in both technology and the markets in which we operate. The team brings a proven track record in building scalable platforms, driving digital transformation, and forging high-impact partnerships. Scott Beck, our co-founder, president and chief executive officer, is a veteran entrepreneur with over 40 years of experience in scaling businesses such as Blockbuster and Home Advisor. Pat Gelsinger, our executive chair and head of technology, brings more than 45 years of technology leadership, including his most recent role as chief executive officer of Intel. They are joined by seasoned leaders with experience from Meta, YouVersion, McKinsey, Christianity Today and Hobby Lobby, forming a strongly qualified team to execute our growth strategy and scale Gloo's impact across the faith and flourishing ecosystem.

**Our Competition**

Our platform operates across a broad and highly fragmented market. We believe our competition primarily falls into five categories:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Faith-tech and general market point solutions, including providers of church management systems, communications tools and engagement platforms such as Subsplash, Ministry Brands, Planning Center and Mailchimp that compete with the Gloo Workspace communications and insights products.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Proprietary and custom systems, including larger ministries that build internal technology stacks that compete with our Gloo360 solutions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Traditional advertising networks, including large media and marketing platforms that offer reach and audience access such as Meta and Google that compete with the Gloo Media Network.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Technology development solutions, including providers that compete with the platform solutions offered by our Gloo Capital Partners, Midwestern and Servant.io.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Specialized and general e-commerce marketplaces, including providers of physical and digital products sold to CFLs for their operations, such as Amazon and Concordia Supply that compete with Outreach and our other e-commerce marketplaces.

Although we face competition across these categories, we believe we are well-suited to continue to grow our platform and we do not believe our competitors match the breadth, contextual relevance or ability of our platform to unify diverse business models.

**Our Employees**

As of July 31, 2025, we had approximately 550 employees across the United States. We benefit from an engaged and driven employee base motivated to join Gloo by our work to support organizations and individuals driving impact. This differentiator not only builds strong employee engagement, but also helps us provide a higher level of service to our customers. With many employees volunteering with nonprofits annually and several serving on a nonprofit board or committee, our direct experience enables our teams to better serve our customer base. Additionally, we believe that by acquiring and investing in Gloo Capital Partners we gain access to differentiated talent that will drive advancements on our platform.

We believe that attracting, developing and retaining exceptional talent is essential to achieving our long-term goals. To support this, we offer competitive compensation and benefits, opportunities for professional growth and a flexible and inclusive work environment. To our knowledge, none of our employees are represented by a labor union, and we consider our relations with our employees to be strong.

As we grow, we expect to continue expanding our team to support strategic initiatives, including product innovation, NCP engagement and potential acquisitions and investments.

**Sales and Marketing**

Our go-to-market strategy includes a scalable digital acquisition strategy and high-touch enterprise sales. This strategy is designed to expand the ecosystem of CFLs and NCPs on our platform.

Our solutions and services are distributed through a hybrid direct and indirect sales approach, combining both assisted and unassisted sales motions to maximize reach and efficiency. Our direct sales efforts are driven by a team of dedicated sales development representatives who focus on lead generation and qualification, ensuring a consistent pipeline of high-quality prospects. These efforts are bolstered by our customer success organization, which actively contributes employee-generated sales leads, fostering collaboration between sales and customer success teams to drive revenue growth. In addition to direct sales efforts, we leverage our extensive network of relationships within the faith and flourishing ecosystem to amplify its reach through indirect sales channels. Strategic marketing and referral programs with these third parties allow us to engage new customers efficiently while deepening our relationships within the community. These sales and customer success professionals are primarily located throughout the United States.

Our omnichannel marketing program further supports lead generation by employing a wide range of strategies, including paid and unpaid digital advertising, event marketing, account-based marketing and content marketing. These initiatives are designed to capture inbound leads and cultivate interest among prospective customers. Additionally, our ecosystem of NCPs enhances these efforts, providing an additional layer of marketing exposure and reach.

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We host and participate in a range of impactful events that drive our sales and marketing efforts by deepening engagement within the faith and flourishing ecosystem and showcasing our solutions. Signature events like State of the Church, in collaboration with Barna, and Outreach's Back to Church Sunday, the AI & The Church Hackathon and others generate significant visibility, attract new users, promote our offerings, position ourselves as the faith and flourishing leader in technology and highlight offerings from Gloo Capital Partners. We also target publication of our thought leadership content and position our subject matter experts in webinars, podcasts, industry journals and publications. We have a large base of loyal customers that provide references and recommendations often featured in our advertising and promotional activities.

**Research and Development**

Research and development is core to our strategy of providing modern technology to the faith and flourishing ecosystem. Our development teams design and build the core infrastructure, tools and experiences that power our platform. Their work spans full-stack development, cloud infrastructure, mobile experiences and AI-driven capabilities. We are committed to ethical technology development. Our research and development practices are guided by principles of data stewardship, user trust and mission alignment. We collaborate with thought leaders in faith, flourishing, technology and social impact to ensure our innovations reflect the values and needs of the communities we serve. We intend to continue to invest in our research and development capabilities to add and integrate additional platform offerings and develop AI powered tools, content and resources to amplify missional impact.

**Intellectual Property** 

We rely on a combination of trademarks and trade secrets, as well as contractual provisions and restrictions, to protect our intellectual property. As of July 31, 2025, we owned nine U.S. trademark registrations for the mark GLOO and related marks. We also own numerous domain names, including *www.gloo.com*.

We also rely on trade secrets and know-how, and we seek to protect these rights through confidentiality and nondisclosure agreements with employees, contractors and other parties. Although we take measures to protect our intellectual property, there can be no assurance that these measures will be successful, or that others will not independently develop similar technologies or otherwise gain access to our proprietary information. In addition, our intellectual property rights may be challenged or infringed upon by third parties.

**Legal Proceedings** 

We are and, from time to time, may become involved in legal proceedings or be subject to claims arising in the ordinary course of our business. We are not presently a party to any legal proceedings that, in the opinion of our management, if determined adversely to us, would individually or taken together have a material adverse effect on our business, operating results, financial condition, or cash flows. We may become involved in legal proceedings in the future, and the outcome of any such matters is inherently uncertain. If an unfavorable outcome were to occur, it could have a material impact on our business or financial results.

**Facilities** 

Our corporate headquarters are located in Boulder, Colorado, where we currently lease approximately 13,800 square feet. We also lease facilities in Sewickley, Pennsylvania, Orlando, Florida and Palo Alto, California. We believe our current facilities are adequate to meet our existing needs. However, as we continue to pursue our growth strategy, including through potential acquisitions, we may require additional facilities. We intend to secure such additional facilities as needed to support our ongoing operations and integration of acquired businesses.

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**MANAGEMENT**

**Executive Officers and Directors**

The following table identifies our executive officers and directors who will be serving upon the effectiveness of the registration statement of which this prospectus forms a part, and their ages as of July 31, 2025:

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| | | |
|:---|:---|:---|
| **Name** | **Age** | **Position(s)** |
| ***Executive Officers*** |  |  |
| Scott Beck | 67 | President, Chief Executive Officer and Director |
| Patrick Gelsinger | 64 | Executive Chair and Head of Technology |
| Paul Seamon | 50 | Chief Financial Officer |
| Matthew Gotschall | 38 | Chief Accounting Officer and Treasurer |
| ***Non-Employee Directors*** |  |  |
| Bishop Claude Richard Alexander, Jr.<sup>(2)(3)</sup> | 61 | Director |
| John (Jack) Furst<sup>(1)(2)</sup> | 66 | Director |
| Derek Green<sup>(1)</sup> | 38 | Director |
| Elizabeth Grennan<sup>(1)(3)</sup> | 51 | Director |
| Robert Gruenewald | 49 | Director |
| Nona Jones<sup>(2)(3)</sup> | 43 | Director |

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(1)Member of the audit committee

(2)Member of the compensation committee

(3)Member of the nominating and corporate governance committee

**Executive Officers**

***Scott Beck*** has served as our president and chief executive officer since inception. Mr. Beck has also served as the chief executive officer and founder of Tango since 1997 and as partner and vice chairman of Pacific Dental Services since 2005. He previously served as vice chairman and chief operating officer of Blockbuster Entertainment from 1986 to 1993, chairman and chief executive officer of Boston Market from 1992 to 1997 and founder and chairman of Einstein Bros Bagels from 1994 to 1997. Mr. Beck graduated from Southern Methodist University with a Bachelor of Science in Finance, Accounting and Business. We believe Mr. Beck is qualified to serve on our board of directors given his perspective, experience and institutional knowledge as our co-founder and chief executive officer.

***Patrick Gelsinger*** has served as our executive chair and head of technology since March 2025 and as a member of our board of directors since August 2016. In his role as head of technology, Mr. Gelsinger is responsible for the direct oversight of all product, engineering and go-to-market strategies for Gloo AI, Gloo Workspace, Gloo Media Network and Gloo360. Mr. Gelsinger also provides strategic and technical leadership to Gloo Capital Partners. Mr. Gelsinger has served as a general partner of Playground Global, LLC, an early-stage venture capital fund, since March 2025. Mr. Gelsinger began his career in 1979 at Intel Corporation, a computer and semiconductor company, holding a variety of roles, including chief technology officer, and overseeing the creation of key industry technologies like USB and Wi-Fi, before leaving to explore different opportunities and eventually returning to serve as chief executive officer from February 2021 until December 2024. Mr. Gelsinger also served on Intel's board of directors from February 2021 to December 2024. While not at Intel, Mr. Gelsinger served as chief executive officer of VMware, Inc., from September 2012 to February 2021. Mr. Gelsinger helped to transform VMware into a recognized leader in cloud infrastructure, enterprise mobility and cybersecurity and was a member of VMware's board of directors from September 2012 until February 2021. Mr. Gelsinger also served as a member of the board of directors of Mobileye Global Inc., an autonomous driving company listed on Nasdaq, from September 2022 to December 2024. Mr. Gelsinger graduated from Stanford University with a Master of Electrical Engineering and from Santa Clara University with a Bachelor of Science in Electrical Engineering. We believe Mr. Gelsinger is qualified to serve as the chairman of our board of directors because of his extensive experience as a public company executive and as a member of public company boards of directors.

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***Paul Seamon*** has served as our chief financial officer since October 2025. Mr. Seamon previously served as chief financial officer of Viventium, a human capital management software company, from February 2024 to September 2025. He also served as interim chief financial officer at Paymentus, an online payment services company listed on NYSE, from August 2022 to March 2023 and vice president of finance and strategy from August 2020 to July 2022. Prior to that, Mr. Seamon served as executive vice president of finance at Alight Solutions, a human capital management company, from August 2018 to May 2020. Mr. Seamon graduated from Kellogg School of Management with a Master of Business Administration and from Purdue University with a Bachelor of Science in Accounting.

***Matthew Edward Gotschall*** has served as our chief accounting officer since January 2025. Mr. Gotschall previously served as our head of operations – finance and corporate systems from April 2022 to January 2025, as our controller from March 2019 to April 2022 and as our accounting manager from June 2017 to February 2019. Mr. Gotschall is a Certified Public Accountant and graduated from the University of Colorado at Boulder with a Master of Business Administration in Financial Accounting and a Bachelor of Science in Business Administration with a dual emphasis in Finance and Accounting and a minor in Mandarin Chinese.

**Non-Employee Directors**

***Bishop Claude Richard Alexander, Jr.*** has served on our board of directors since December 2022. Bishop Alexander has served as senior pastor of The Park Church in Charlotte, North Carolina since August 1990, as chief executive officer of The Park Expo and Conference Center since November 2006, and as vice presiding bishop of the Kingdom Association of Covenant Pastors since 2008. He also provided business development consulting services to Crowe LLP, a public accounting firm, from January 2023 to March 2024. Bishop Alexander serves on several boards of directors and has authored numerous devotional books. Bishop Alexander graduated from Gordon-Conwell Theological Seminary with a Doctorate of Ministry, from Pittsburgh Theological Seminary with a Master in Divinity and from Morehouse College with a Bachelor of Art in Philosophy. We believe Bishop Alexander is qualified to serve on our board of directors because of his extensive senior management experience in Christian organizations.

***John Douglas Furst*** has served on our board of directors since July 2019. Mr. Furst has more than 35 years of experience in leveraged acquisitions and private investments. Mr. Furst is the founder of Oak Stream Investors, a private investment firm founded in 2008. He manages his own capital making investments in real estate, oil and gas, fixed income securities and public and private equities. Mr. Furst has served on the board of directors of Capital Southwest Corporation, a credit provider to small and medium sized business listed on Nasdaq, since 2014. Mr. Furst has also served on the board of directors for Drilling Tools International, a provider of tools for land and offshore drilling listed on Nasdaq, since 2012. Prior to founding Oak Stream Investors, Mr. Furst worked in a variety of roles at investment banks and private equity firms, including as a partner with Hicks Muse Tate & Furst. Mr. Furst is also an adjunct professor at the University of North Texas and the University of Texas at Dallas, where he teaches finance and investments. Mr. Furst graduated from the Graduate School of Business at the University of Texas at Austin with a Master of Business Administration and from Arizona State University with a Bachelor of Science in Finance & Accounting. We believe Mr. Furst is qualified to serve on our board of directors because of his experience on other public company boards of directors and his extensive financial experience.

***Derek Todd Green*** has served on our board of directors since April 2021. Mr. Green has served as the vice president of investments at HL American Investments LLC, the investment office of Hobby Lobby Stores, Inc. and the Green family, since May 2013. Before his current role, Mr. Green founded and sold a document services company and held multiple roles at Hobby Lobby. We believe Mr. Green is qualified to serve on our board of directors because of his business and entrepreneurial experience.

***Elizabeth Grennan*** has served on our board of directors since April 2025. Ms. Grennan has served as the chief client officer at Simpson Thacher & Bartlett LLP, a global law firm, since April 2025. Prior to that, Ms. Grennan was a partner at McKinsey & Company from May 2016 to March 2025. Earlier in her career, Ms. Grennan served as general counsel to emerging technology companies. Ms. Grennan graduated from the University of Virginia School of Law with a Juris Doctorate, from the London School of Economics with a Master of Science in Public Policy & Public Administration and from the University of California, Los Angeles with a Bachelor of Arts in Political Science. We believe Ms. Grennan is qualified to serve on our board of directors because of her experience advising multi-faceted companies on legal and technology matters.

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***Robert Gruenewald*** has served on our board of directors since January 2025. Mr. Gruenewald is the founder and chief executive officer of YouVersion, a consumer faith platform founded in 2008. Mr. Gruenewald has also served as pastor, director and innovation leader at Life.Church since 2001. Before his current roles, Mr. Gruenewald founded and sold two technology companies and held multiple roles at venture capital firms. Mr. Gruenewald graduated from Southern Nazarene University with a Bachelor of Science in Finance. We believe Mr. Gruenewald is qualified to serve on our board of directors because of his long-standing experience running a faith-based technology company.

***Nona Jones*** has served on our board of directors since March 2023. Ms. Jones has served as the chief executive officer of Inside Out Leadership, a leadership coaching provider, since October 2024. Ms. Jones previously served as the chief content and partnerships officer and global ambassador at YouVersion from February 2023 to January of 2025 and as the head of global faith partnerships at Meta Platforms, Inc. from August 2017 to January 2023. Ms. Jones graduated from the University of Florida with a Master of Business Administration and a Bachelor of Arts in Communications. We believe Ms. Jones is qualified to serve on our board of directors because of her experience in executive management positions and as the head of a faith-based team of a public company.

**Family Relationships**

There are no family relationships among any of our executive officers or directors.

**Code of Business Conduct and Ethics**

Our board of directors intends to adopt a code of business conduct and ethics that applies to all of our directors, officers and employees, including our principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions, as well as our contractors, consultants and agents. Following this offering, the full text of our code of business conduct and ethics will be posted on the investor relations page on our website at *www.gloo.com*. We intend to disclose any amendments to our code of business conduct and ethics, or waivers of its requirements, applicable to our principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions, on our website identified above or in filings under the Exchange Act. Information contained on our website or linked therein or otherwise connected thereto does not constitute part of nor is it incorporated by reference into this prospectus or the registration statement of which this prospectus forms a part.

**Board of Directors**

Our business and affairs are managed under the direction of our board of directors. Our certificate of incorporation and bylaws to be in effect prior to the closing of this offering will provide that the number of directors will be fixed by our board of directors, subject to the terms of our certificate of incorporation and bylaws. Each of our directors will continue to serve as a director until the election and qualification of his or her successor, or until his or her earlier death, resignation or removal.

***Classified Board***

Our certificate of incorporation to be in effect prior to the closing of this offering will provide that our board of directors will be divided into three classes with staggered three-year terms. Only one class of directors will be elected at each annual meeting of our stockholders, with the other classes continuing for the remainder of their respective three-year terms. Our directors will be divided among the three classes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the Class I directors will be Mr. Furst, Mr. Green and Bishop Alexander, and their terms will expire at the annual meeting of stockholders to be held in 2026;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the Class II directors will be Mr. Gruenewald and Ms. Jones, and their terms will expire at the annual meeting of stockholders to be held in 2027; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the Class III directors will be Mr. Beck, Mr. Gelsinger and Ms. Grennan, and their terms will expire at the annual meeting of stockholders to be held in 2028.

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Any increase or decrease in the number of directors will be distributed among the three classes so that, as nearly as possible, each class will consist of one-third of the directors. The classification of our board of directors with staggered three-year terms may have the effect of delaying or preventing changes in control of our company. See the section titled "Description of Capital Stock—Anti-Takeover Effects of Certain Provisions of Delaware Law, Our Certificate of Incorporation and Our Bylaws."

***Director Independence***

Our board of directors has undertaken a review of the independence of each director. Based on information provided by each director concerning his or her background, employment and affiliations, our board of directors has determined that Mr. Furst, Mr. Green, Ms. Grennan, Bishop Alexander and Ms. Jones, representing five of our eight directors, do not have a relationship that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director and that each of these directors is an "independent director" as defined under the listing standards of the Nasdaq Stock Market. In making these determinations, our board of directors considered the current and prior relationships that each non-employee director has with our company and all other facts and circumstances that our board of directors deemed relevant in determining their independence, including the beneficial ownership of our capital stock by each non-employee director, and the transactions involving them described in the section titled "Certain Relationships and Related Party Transactions."

**Board Committees**

Our board of directors has established an audit committee, a compensation committee and a nominating and corporate governance committee. The composition and responsibilities of each of the committees of our board of directors is described below. Members will serve on these committees until the earlier of their resignation or removal by our board of directors in its discretion.

***Audit Committee***

Upon the effectiveness of the registration statement of which this prospectus forms a part, the members of our audit committee will be Mr. Furst, Mr. Green and Ms. Grennan, with Mr. Furst serving as chairperson, each of whom meets the requirements for independence under the rules and regulations of the SEC and the listing standards of the Nasdaq Stock Market applicable to audit committee members. Each member of our audit committee also meets the financial literacy requirements of the listing standards of the Nasdaq Stock Market. In addition, our board of directors has determined that Mr. Furst is an audit committee financial expert within the meaning of Item 407(d) of Regulation S-K under the Securities Act. Following completion of this offering, our audit committee will, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•select, retain, compensate, evaluate, oversee and, where appropriate, terminate our independent registered public accounting firm;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•review and approve the scope and plans for the audits and the audit fees and approve all non-audit and tax services to be performed by the independent auditor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•evaluate the independence and qualifications of our independent registered public accounting firm;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•review our financial statements, and discuss with management and our independent registered public accounting firm the results of the annual audit and the quarterly reviews;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•review and discuss with management and our independent registered public accounting firm the quality and adequacy of our internal controls and our disclosure controls and procedures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•discuss with management our procedures regarding the presentation of our financial information, and review earnings press releases and guidance;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•oversee the design, implementation and performance of our internal audit function, if any;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•set hiring policies with regard to the hiring of employees and former employees of our independent auditor and oversee compliance with such policies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•review, approve and monitor related party transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•adopt and oversee procedures to address complaints regarding accounting, internal accounting controls and auditing matters, including confidential, anonymous submissions by our employees of concerns regarding questionable accounting or auditing matters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•review and monitor compliance with our code of business conduct and ethics and consider questions of actual or possible conflicts of interest of Board members and corporate officers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•review and discuss with management and our independent auditor the adequacy and effectiveness of our legal, regulatory and ethical compliance programs; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•review and discuss with management and our independent auditor our guidelines and policies to identify, monitor and address enterprise risks.

Our audit committee will operate under a written charter, to be effective upon the effectiveness of the registration statement of which this prospectus forms a part, that satisfies the applicable rules and regulations of the SEC and the listing standards of the Nasdaq Stock Market.

***Compensation Committee***

Upon the effectiveness of the registration statement of which this prospectus forms a part, the members of our compensation committee will be Mr. Furst, Ms. Jones and Bishop Alexander, with Mr. Furst serving as chairperson, each of whom meets the requirements for independence under the rules and regulations of the SEC and the listing standards of the Nasdaq Stock Market applicable to compensation committee members. Each member of our compensation committee is also a non-employee director, as defined pursuant to Rule 16b-3 promulgated under the Exchange Act. Following completion of this offering, our compensation committee will, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•review, approve or make recommendations to our board of directors regarding the compensation for our executive officers, including our chief executive officer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•review, approve and administer our employee benefit and equity incentive plans and overall compensation philosophy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•establish and review the compensation plans and programs of our employees, and ensure that they are consistent with our general compensation strategy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•determine non-employee director compensation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•advise the board on management proposals to stockholders on executive compensation matters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•review and discuss compensation risk;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•prepare the report of the compensation committee required by the rules and regulations of the SEC; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•approve or make recommendations to our board of directors regarding the creation or revision of any clawback policy.

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Our compensation committee will operate under a written charter, to be effective upon the effectiveness of the registration statement of which this prospectus forms a part, that satisfies the applicable rules and regulations of the SEC and the listing standards of the Nasdaq Stock Market.

***Nominating and Corporate Governance Committee***

Upon the effectiveness of the registration statement of which this prospectus forms a part, the members of our nominating and corporate governance committee will be Ms. Grennan, Bishop Alexander and Ms. Jones, with Ms. Grennan serving as chairperson, each of whom meets the requirements for independence under the listing standards of the Nasdaq Stock Market. Following completion of this offering, our nominating and corporate governance committee will, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•review, assess and make recommendations to our board of directors regarding desired qualifications, expertise and characteristics sought of board members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•identify, evaluate, select or make recommendations to our board of directors regarding nominees for election to our board of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•develop policies and procedures for considering stockholder nominees for election to our board of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•review our succession planning process for our chief executive officer and any other members of our executive management team;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•review and make recommendations to our board of directors regarding the composition, organization and governance of our board of directors and its committees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•determine non-employee director compensation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•review and make recommendations to our board of directors regarding our corporate governance guidelines and corporate governance framework;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•oversee director orientation for new directors and continuing education for our directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•oversee the evaluation of the performance of our board of directors and its committees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•review and discuss with management disclosure of our corporate governance practices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•review and monitor compliance with our code of business conduct and ethics, and review conflicts of interest of our board members and officers other than related party transactions reviewed by our audit committee; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•administer policies and procedures for communications with the non-management members of our board of directors.

Our nominating and corporate governance committee will operate under a written charter, to be effective upon the effectiveness of the registration statement of which this prospectus forms a part, that satisfies the applicable listing standards of the Nasdaq Stock Market.

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**Compensation Committee Interlocks and Insider Participation**

The members of our compensation committee are Mr. Furst, Ms. Jones and Bishop Alexander. None of the members of our compensation committee is or has been an officer or employee of our company. None of our executive officers currently serves, or in the past year has served, as a member of the board of directors or compensation committee (or other board committee performing equivalent functions or, in the absence of any such committee, the entire board of directors) of any entity that has one or more executive officers serving on our board of directors or compensation committee.

**Director Compensation**

Directors who are also our employees receive no additional compensation for their service as directors. The compensation received by Mr. Beck as an employee is set forth in the section titled "Executive Compensation." The following table sets forth information regarding the total compensation awarded to, earned by or paid to our directors other than Mr. Beck for the year ended January 31, 2025, for their service on our board of directors.

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| | | | |
|:---|:---|:---|:---|
| **Name** | **Fees Paid<br>or Earned<br>in Cash<br>($)** | **Option<br>Awards<br>($) (1)** | **Total<br>($)** |
| Bishop Claude Richard Alexander, Jr. |  | 21882 | 21882 |
| John (Jack) Furst |  | 21882 | 21882 |
| Patrick Gelsinger |  | 21882 | 21882 |
| Derek Green |  | 21882 | 21882 |
| Elizabeth Grennan |  |  |  |
| Robert Gruenewald |  | 21882 | 21882 |
| Nona Jones | 70000<br><sup>(2)</sup> | 21882 | 91882 |

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(1)The amounts in the "Option Awards" column reflect the aggregate grant-date fair value of the options calculated in accordance with FASB ASC Topic 718, rather than the amounts paid or realized by the non-employee director. The assumptions used to calculate the value of our option awards are the same as those provided in Note 17 to our consolidated financial statements with respect to the value of the options.

(2)Represents fees paid to Ms. Jones for consulting services provided to us in the year ended January 31, 2025.

The following table lists all outstanding equity awards held by our directors other than Mr. Beck as of January 31, 2025 (after giving effect to the Reverse Split):

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| | |
|:---|:---|
| **Name** | **Number of Shares<br>Underlying<br>Outstanding<br>Options** |
| Bishop Claude Richard Alexander, Jr. | 5,555 |
| John (Jack) Furst | 5,555 |
| Patrick Gelsinger | 133,760 |
| Derek Green | 5,555 |
| Elizabeth Grennan |  |
| Robert Gruenewald | 5,555 |
| Nona Jones | 5,555 |

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Prior to this offering, we did not have a formal policy with respect to compensation payable to our non-employee directors for service as directors. We have adopted a formal compensation policy for our non-employee directors, which will govern their cash and equity compensation following the completion of this offering.

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**Outside Director Compensation Policy** 

In connection with this offering we have adopted a compensation policy for our outside directors (the Director Compensation Policy), which governs their cash and equity compensation following the completion of this offering.

Under the Director Compensation Policy each eligible non-employee director will receive cash and equity compensation for board services described below. We also will continue to reimburse our eligible non-employee directors for reasonable, customary and documented travel expenses to board and committee meetings.

The Director Compensation Policy includes a maximum annual limit of $750,000 of aggregate cash compensation and equity compensation awards that may be paid, issued or granted to a non-employee director in any fiscal year, increased to $1,000,000 in the initial fiscal year of service as a non-employee director. For purposes of this limitation, the value of equity awards will be based on the grant date fair value (determined in accordance with U.S. GAAP). Any cash compensation paid or equity compensation awards granted to a person for his or her services as an employee, for their services as a consultant (other than as a non-employee director), or prior to the effective date of the IPO will not count for purposes of the limitation. The maximum limit does not reflect the intended size of any potential compensation or equity awards to our non-employee directors.

***Cash Compensation***

Under the Director Compensation Policy eligible non-employee directors are entitled to receive the following cash compensation for their services:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•$100,000 per year for service as a board member;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•$40,000 per year for service as non-executive chair of the board of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•$25,000 per year for service as chair of the audit committee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•$10,000 per year for service as a member of the audit committee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•$25,000 per year for service as chair of the compensation committee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•$10,000 per year for service as a member of the compensation committee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•$25,000 per year for service as chair of the nominating and corporate governance committee; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•$10,000 per year for service as a member of the nominating and corporate governance committee.

Each eligible non-employee director who serves as the chair of a committee will receive only the additional annual fee as the chair of the committee and not the additional annual fee as a member of the committee. All cash payments to non-employee directors are paid quarterly in arrears on a prorated basis.

***Equity Compensation***

*IPO Award*

We anticipate that each person who is serving as an eligible non-employee director upon the completion of this offering will receive an award of RSUs (the IPO Award), covering a number of shares of our Class A common stock, with such award having a grant-date fair value equal to $200,000, rounded to the nearest whole share. The IPO Award will vest, as to one-half of the underlying RSUs, on the day of the first annual stockholder meeting following the completion of this offering, or, if earlier, the one-year anniversary of the grant date and, as to one-half of the underlying RSUs, on the second annual stockholder meeting following the completion of this offering, or, if earlier, the two-year anniversary of the grant date, subject to the eligible non-employee director continuing to provide services to us through the applicable vesting date.

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*Initial Award*

We anticipate that each person who first becomes an eligible non-employee director following the completion of this offering will receive an initial award of RSUs (the Initial Award), covering a number of shares of our Class A common stock, with such award having a grant date fair value equal to $200,000, rounded to the nearest whole share. The Initial Award will vest as to one-half of the underlying RSUs on each of the first and second anniversaries of the date on which the person first became an eligible non-employee director, subject to the eligible non-employee director continuing to provide services to us through the applicable vesting date. If the person was a member of the board of directors and also an employee, becoming an eligible non-employee director due to termination of employment will not entitle the eligible non-employee director to an Initial Award.

*Annual Award* 

We anticipate that each eligible non-employee director automatically will receive, on the date of each annual meeting of stockholders starting in 2027, an annual award of RSUs (the Annual Award), covering a number of shares of our Class A common stock, with such award having a grant date fair value of $100,000, rounded to the nearest whole share. We anticipate that the Annual Award will vest on the one-year anniversary of the grant date of the Annual Award or, if earlier, the day before our annual meeting of stockholders that follows the grant date of the Annual Award, subject to the eligible non-employee director continuing to provide services to us through the applicable vesting date.

We anticipate that, in the event of a "change in control" (as defined in the 2025 Plan), each non-employee director will fully vest in his or her outstanding equity awards, including any IPO Award, Initial Award or Annual Award, provided that the eligible non-employee director continues to be a non-employee director through such date.

**Limitation of Liability and Indemnification of Officers and Directors**

We expect to adopt an amended and restated certificate of incorporation, which will be in effect upon the closing of this offering, and which will contain provisions that limit the liability of our directors and certain of our officers for monetary damages to the fullest extent permitted by the DGCL. In addition, if the DGCL is amended to provide for further limitations on the personal liability of directors or officers of corporations, then the personal liability of our directors and officers will be further limited to the greatest extent permitted by the DGCL.

In addition, we expect to adopt amended and restated bylaws, which will become effective as of the closing of this offering, and which will provide that we will indemnify our directors and officers, and may indemnify our employees, agents and any other persons, to the fullest extent permitted by the DGCL. Our bylaws will also provide that we must advance expenses incurred by or on behalf of a director or officer in advance of the final disposition of any action or proceeding, subject to limited exceptions.

Further, we have entered into or will enter into indemnification agreements with each of our directors and executive officers that may be broader than the specific indemnification provisions contained in the DGCL. These indemnification agreements require us to, among other things, indemnify our directors and executive officers against liabilities that may arise by reason of their status or service. These indemnification agreements also generally require us to advance all expenses reasonably and actually incurred by our directors and executive officers in investigating or defending any such action, suit or proceeding. We believe that these agreements are necessary to attract and retain qualified individuals to serve as directors and executive officers.

We also expect to obtain and maintain insurance policies under which our directors and officers are insured, within the limits and subject to the limitations of those policies, against certain expenses in connection with the defense of, and certain liabilities which might be imposed as a result of, actions, suits or proceedings to which they are parties by reason of being or having been our directors or officers. The coverage provided by these policies may apply whether or not we would have the power to indemnify such person against such liability under the provisions of the DGCL. At present, we are not aware of any pending litigation or proceeding involving any person who is or was one of our directors or officers, or is or was one of our directors or officers serving at our request as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, for which indemnification is sought, and we are not aware of any threatened litigation that may result in claims for indemnification.

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**EXECUTIVE COMPENSATION**

Our named executive officers for the year ended January 31, 2025 were:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Scott Beck, our co-founder, president and chief executive officer; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Matthew Gotschall, our chief accounting officer and treasurer.

**Summary Compensation Table for Fiscal 2024**

The following table sets forth information regarding the compensation awarded to, earned by or paid to our named executive officers for fiscal 2024:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name and <br>Principal Position** | **Year** | **Salary<br>($)** | **Option Awards<br>($)**<sup>(1)</sup> | **Non-Equity<br>Incentive Plan<br>Compensation<br>($)**<sup>(2)</sup> | **Total<br>($)** |
| Scott Beck |  |  |  |  |  |
| &nbsp;&nbsp;*President and Chief Executive Officer* | Fiscal 2024 | 260000 | 21882 | 117000 | 398882 |
| Matthew Gotschall |  |  |  |  |  |
| &nbsp;&nbsp;*Chief Accounting Officer and Treasurer* | Fiscal 2024 | 205000 | 147277 | 40984 | 393261 |

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&nbsp;&nbsp;&nbsp;&nbsp;(1)The amount in the "Option Awards" column reflects the aggregate grant-date fair value of the options calculated in accordance with FASB ASC Topic 718, rather than the amounts paid or realized by the named executive officer. The assumptions used to calculate the value of our option awards are the same as those provided in Note 2 to our consolidated financial statements with respect to the value of the options.

&nbsp;&nbsp;&nbsp;&nbsp;(2)The amounts in the "Non-Equity Incentive Plan Compensation" column reflect amounts earned under the individualized incentive plan in which the named executive officer participated, as described in the section titled "Executive Compensation—Non-Equity Incentive Plan Compensation."

**Non-Equity Incentive Plan Compensation**

Both of our named executive officers are eligible to receive performance-based cash bonuses, which are designed to provide appropriate incentives to our executives to achieve defined performance goals and to reward our executives for individual achievement towards these goals. The performance-based bonus each named executive officer is eligible to receive is generally based on the extent to which we achieve pre-established corporate goals.

For fiscal 2024, each of our named executive officers were eligible to earn an annual bonus up to a percentage of his annual base salary, which was 50.0% with respect to Mr. Beck and 20.0% with respect to Mr. Gotschall. Bonuses to our named executive officers in fiscal 2024 were based on quarterly and annual operating unit objectives. We approved payments under our fiscal 2024 bonus plan to our named executive officers. Based on the achievements under the fiscal 2024 plan and the relative weighting, the named executive officers received total performance-based cash bonuses for fiscal 2024 in the amounts set forth in the "Non-Equity Incentive Plan Compensation" of the "Summary Compensation Table" above.

***October 2025 Option Repricing***

In October 2025, our board of directors approved the repricing of certain stock options previously granted under the 2014 Plan to current executive officers, employees and directors which, in connection with this offering and the Corporate Reorganization will be assumed and converted into options to purchase shares of our Class B common stock on a three-for-one basis as part of the Corporate Reorganization (the Assumed Options), with corresponding adjustments to (i) the number of shares of Class B common stock underlying such Assumed Options, (ii) the per share exercise price of each such Assumed Option, and (iii) other adjustments as required under Section 409A of the Code. All Assumed Options with per-share exercise prices above the initial price per share to the public in this offering, including Assumed Options held by Mr. Beck and Mr. Gotschall, which were "underwater", meaning that the exercise price per share of these Assumed Options was greater than the current fair market value of our Class B common stock, will be repriced effective on the date of the pricing of this offering (the Option Repricing) to reduce the exercise price per share of such underwater Assumed Options to the initial price per share to the public in this offering, the fair market value of our common stock on the date of the Option Repricing. We believe that the Option Repricing is in our best interest and in the best interests of our stockholders, in order to motivate the optionholders to continue to provide services to us and to work towards our success.

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**Outstanding Equity Awards at Fiscal 2024 Year-End**

The following table sets forth information regarding outstanding equity awards held by our named executive officers as of January 31, 2025 (after giving effect to the Reverse Split).

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  | **Option Awards** | **Option Awards** | **Option Awards** | **Option Awards** | **Stock Awards** | **Stock Awards** |
| **Name** | **Grant<br>Date** | **Vesting<br>Commencement<br>Date** | **Number of<br>securities<br>underlying<br>unexercised<br>options (#)<br>exercisable** | **Number of<br>securities<br>underlying<br>unexercised<br>options (#)<br>unexercisable** | **Option<br>exercise<br>price ($)**<sup>(1)</sup> | **Option<br>expiration <br>date** | **Number of<br>unvested<br>Incentive<br>Units<br>underlying<br>award (#)** | **Threshold<br>price per<br>Incentive<br>Unit ($)** |
| Scott Beck | 10/31/2020 | 10/1/2020 | 5866  |  | 11.25  | 10/30/2030 |  |  |
|  | 12/31/2020 | 12/31/2020 | 5866  |  | 11.25  | 12/30/2030 |  |  |
|  | 3/13/2021 | 3/1/2021 | 6044  |  | 11.25  | 3/12/2031 |  |  |
|  | 1/21/2025<br><sup>(2)</sup> | 1/21/2025 |  | 5555  | 18.00  | 1/20/2035 |  |  |
| Matthew Gotschall | 8/26/2017 | 6/5/2017 | 2222 |  | 4.50 | 8/25/2027 |  |  |
|  | 7/9/2018 | 3/1/2018 | 1666 |  | 5.70 | 7/8/2028 |  |  |
|  | 3/23/2019 | 1/1/2019 | 9444 |  | 7.95 | 3/22/2029 |  |  |
|  | 6/20/2020<br><sup>(3)</sup> | 6/20/2020 | 5333 | 1333 | 11.25 | 6/19/2030 |  |  |
|  | 10/31/2020 | 10/1/2020 | 1642 |  | 11.25 | 10/30/2030 |  |  |
|  | 12/31/2020 | 12/31/2020 | 1642 |  | 11.25 | 12/30/2030 |  |  |
|  | 3/13/2021<br><sup>(3)</sup> | 3/1/2021 | 8000 | 5333 | 11.25 | 3/12/2031 |  |  |
|  | 3/13/2021 | 3/1/2021 | 1692 |  | 11.25 | 3/12/2031 |  |  |
|  | 4/28/2023<br><sup>(4)</sup> | 2/28/2024 |  |  |  |  | 60000 | 11.25 |
|  | 12/23/2024<br><sup>(3)</sup> | 9/1/2024 |  | 33333 | 18.00 | 12/22/2034 |  |  |

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&nbsp;&nbsp;&nbsp;&nbsp;(1)The exercise prices do not reflect the Option Repricing. If the initial price to the public in this offering is less than the per share exercise price of these options, then upon the execution of the underwriting agreement related to this offering, the exercise price per share of these options will be automatically repriced to an exercise price per share equal to the initial price per share to the public in this offering.

&nbsp;&nbsp;&nbsp;&nbsp;(2)The common units underlying this common unit option are scheduled to fully vest on the first anniversary of the Vesting Commencement Date subject to Mr. Beck's continued service with us.

&nbsp;&nbsp;&nbsp;&nbsp;(3)The Incentive Units underlying each of these awards vested as to 2/5ths of the total Incentive Units on the second anniversary of the Vesting Commencement Date with 1/5th of the total Incentive Units vesting annually thereafter subject to Mr. Gotschall's continued service with us.

&nbsp;&nbsp;&nbsp;&nbsp;(4)The Incentive Units underlying each of these awards vested as to 2/5ths of the total Incentive Units on the Vesting Commencement Date with 1/5th of the total Incentive Units vesting annually thereafter subject to Mr. Gotschall's continued service with us.

**Description of Option Awards**

All options are options to purchase common membership units of Gloo Holdings, LLC. Upon the completion of the Corporate Reorganization, outstanding options to purchase common membership units of Gloo Holdings, LLC will be exchanged for options to purchase shares of Class B common stock of Gloo Holdings, Inc. on the same basis as outstanding common membership units are so converted, with exercise prices appropriately adjusted. Unless otherwise described in the notes to the Outstanding Equity Awards at Fiscal 2024 Year-End table above, each option vests over as to 2/5ths of the total units on the second anniversary of the Vesting Commencement Date with 1/60th of the total units vesting monthly thereafter subject to the respective named executive officer's continued service with us.

**Executive Officer Employment Arrangements**

We have entered into confirmatory employment agreements with our executive officers, providing for the terms set forth below.

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***Scott Beck***

Mr. Beck's confirmatory employment agreement will not have a specific term and will provide that Mr. Beck is an at-will employee. The agreement will supersede all existing agreements and understandings that Mr. Beck may have concerning his employment relationship with us. We expect that Mr. Beck's confirmatory employment agreement will provide that he will continue to receive his current annual base salary of $260,000, and be eligible for a target annual bonus at 50% of his annual base salary.

***Patrick Gelsinger***

Mr. Gelsinger's confirmatory employment agreement will not have a specific term and will provide that Mr. Gelsinger is an at-will employee. The agreement will supersede all existing agreements and understandings that Mr. Gelsinger may have concerning his employment relationship with us. We expect that Mr. Gelsinger's confirmatory employment agreement will provide that his annual base salary will be increased from $130,000 to $260,000, effective as of the effective date of the registration statement of which this prospectus forms a part, and be eligible for a target annual bonus at 50% of his annual base salary.

***Matthew Gotschall*** 

Mr. Gotschall's confirmatory employment agreement will not have a specific term and will provide that Mr. Gotschall is an at-will employee. The agreement will supersede all existing agreements and understandings that Mr. Gotschall may have concerning his employment relationship with us. We expect that Mr. Gotschall's confirmatory employment agreement will provide that he will continue to receive his current annual base salary of $250,000, and be eligible for a target annual bonus at 40% of his annual base salary.

***Paul Seamon***

Mr. Seamon's confirmatory employment agreement will not have a specific term and will provide that Mr. Seamon is an at-will employee. The agreement will supersede all existing agreements and understandings that Mr. Seamon may have concerning his employment relationship with us. We expect that Mr. Seamon's confirmatory employment agreement will provide that he will continue to receive his current annual base salary of $300,000, and be eligible for a target annual bonus at 75% of his annual base salary.

**Gotschall Fiscal 2025 Award**

In connection with this offering, we expect to issue Mr. Gotschall (i) a stock option to purchase 166,667 shares of our Class A common stock under the 2025 Plan at an exercise price per share equal to the initial price per share to the public in this offering, which is expected to vest 40% on November, 1, 2027 and in three equal installments thereafter, subject to his continued service, and (ii) a stock option to purchase 100,000 shares of our Class A common stock under the 2025 Plan at an exercise price per share equal to the initial price per share to the public in this offering, which is expected to vest 40% on January 31, 2026 and in three equal installments thereafter, subject to his continued service.

We do not intend to have a policy or practice to time equity grants based on the release of material non-public information.

**Potential Payments upon Termination or Change in Control** <br>

We have adopted our Executive Change in Control Severance Plan (the Severance Plan) to provide severance and change in control benefits to our executive officers and certain other key employees. The severance payments and benefits under the Severance Plan generally are expected to be in lieu of any other severance payments and benefits to which a participant was entitled before signing his or her participation agreement under the Severance Plan, except as specifically provided under the participation agreement.

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In the event of a "termination" of the employment of an executive officer by us for a reason other than "cause" or the executive officer's death or "disability" (as such terms are defined in our Severance Plan), that occurs outside the change in control period (as described below), the executive officer will be entitled to the following payments and benefits:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•a lump sum payment equal to 50% of the executive officer's annual base salary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•a pro-rated portion of the executive officer's target annual bonus for the year of termination, with the proration calculated based on the number of months in which the executive officer was employed with us during that year; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•reimbursement, or taxable lump sum payment in lieu of reimbursement, equal to the premium cost of continued health coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (COBRA), for a period of 6 months.

In the event of a termination of the employment (i) by us for a reason other than "cause" or the executive officer's death or "disability" or (ii) by the executive officer for "good reason" (as such terms are defined in our Severance Plan), in either case, occurring within a period beginning 3 months prior to and ending 12 months following a "change in control" (as defined in our Severance Plan, and such period the "change in control period"), the executive officer will be entitled to the following payments and benefits:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•a lump sum payment equal to 100% of the executive officer's annual base salary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•a pro-rated portion of the executive officer's target annual bonus for the year of termination, with the proration calculated based on the number of months in which the executive officer was employed with us during that year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•reimbursement, or taxable lump sum payment in lieu of reimbursement, equal to the premium cost of continued health coverage under COBRA for a period of 12 months; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•100% accelerated vesting of all outstanding equity awards, and, with respect to equity awards with performance-based vesting, all performance goals or other vesting criteria will be deemed achieved at 100% of target levels for the relevant performance period(s), unless otherwise determined by the applicable agreement governing the equity award with performance-based vesting.

The receipt of the payments and benefits provided for under the Severance Plan described above is conditioned on the executive officer signing and not revoking a separation and release of claims agreement and such release becoming effective and irrevocable no later than the sixtieth day following the executive officer's involuntary termination of employment, as well as continued compliance with any confidentiality, proprietary information and inventions agreement applicable to the executive officer.

In addition, if any of the payments or benefits provided for under our Severance Plan or otherwise payable to the executive officer would constitute "parachute payments" within the meaning of Section 280G of the Code and could be subject to the related excise tax, the executive officer will receive either full payment of such payments and benefits or such lesser amount that would result in no portion of the payments and benefits being subject to the excise tax, whichever results in the greater amount of after-tax benefits to them. Our Severance Plan does not require us to provide any tax gross-up payments to the executive officers.

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**Employee Benefit and Stock Plans**

***2025 Equity Incentive Plan*** 

Our board of directors has adopted, and our stockholders have approved, our 2025 Plan. We expect that our 2025 Plan will be effective on the business day immediately prior to the effective date of the registration statement of which this prospectus forms a part. Our 2025 Plan will provide for the grant of incentive stock options, within the meaning of Section 422 of the Code, to our employees and any parent and subsidiary corporations' employees, and for the grant of nonstatutory stock options, restricted stock, RSUs, stock appreciation rights, performance units, and performance shares to our employees, directors and consultants, and our parent and subsidiary corporations' employees and consultants. We expect that our 2014 Plan will terminate immediately prior to effectiveness of the 2025 Plan with respect to the grant of future awards.

*Authorized Shares* 

A total of 13,357,842 shares of our Class A common stock will be reserved for issuance pursuant to our 2025 Plan. In addition, the shares reserved for issuance under our 2025 Plan also will include a number of shares of Class A common stock equal to the shares of Class B common stock subject to stock options or similar awards granted under our 2014 Plan, that, after the effective date of our 2025 Plan, expire or otherwise terminate without having been exercised in full, are tendered to or withheld by us for payment of an exercise price or for satisfying tax withholding obligations, or are forfeited to or repurchased by us due to failure to vest (provided that the maximum number of shares that may be added to our 2025 Plan from the 2014 Plan is 4,356,272 shares). The number of shares available for issuance under our 2025 Plan will also include an annual increase on the first day of each fiscal year beginning on February 1, 2026, equal to the least of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•10,800,000 shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•five percent (5%) of the outstanding shares of all classes of our common stock as of the last day of the immediately preceding fiscal year; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•such other amount as our board of directors may determine.

If an award granted under the 2025 Plan expires or becomes unexercisable without having been exercised in full, is surrendered pursuant to an exchange program or, with respect to restricted stock, RSUs, performance units or performance shares, is forfeited or repurchased due to failure to vest, then the unpurchased shares (or for awards other than stock options or stock appreciation rights, the forfeited or repurchased shares) will become available for future grant or sale under the 2025 Plan. With respect to stock appreciation rights, only the net shares actually issued will cease to be available under the 2025 Plan and all remaining shares under stock appreciation rights will remain available for future grant or sale under the 2025 Plan. Shares that have actually been issued under the 2025 Plan under any award will not be returned to the 2025 Plan; provided, however, that if shares issued pursuant to awards of restricted stock, RSUs, performance shares or performance units are repurchased or forfeited, such shares will become available for future grant under the 2025 Plan. Shares used to pay the exercise price of an award or to satisfy the tax withholding obligations related to an award will become available for future grant or sale under the 2025 Plan. To the extent an award is paid out in cash rather than shares, such cash payment will not result in a reduction in the number of shares available for issuance under the 2025 Plan.

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*Plan Administration* 

Our board of directors or one or more committees appointed by our board of directors will administer our 2025 Plan. The compensation committee is expected to administer our 2025 Plan. In addition, if we determine it is desirable to qualify transactions under our 2025 Plan as exempt under Rule 16b-3 of the Exchange Act, such transactions will be structured with the intent that they satisfy the requirements for exemption under Rule 16b-3. Subject to the provisions of our 2025 Plan, the administrator has the power to administer our 2025 Plan and make all determinations deemed necessary or advisable for administering the 2025 Plan, including, but not limited to, the power to determine the fair market value of our Class A common stock, select the service providers to whom awards may be granted, determine the number of shares covered by each award, approve forms of award agreements for use under the 2025 Plan, determine the terms and conditions of awards (including, but not limited to, the exercise price, the time or times at which the awards may be exercised, any vesting acceleration or waiver or forfeiture restrictions, and any restriction or limitation regarding any award or the shares relating thereto), construe and interpret the terms of our 2025 Plan and awards granted under it, prescribe, amend, and rescind rules relating to our 2025 Plan, including creating sub-plans, and modify or amend each award, including, but not limited to, the discretionary authority to extend the post-termination exercisability period of awards (provided that no option or stock appreciation right will be extended past its original maximum term), and to allow a participant to defer the receipt of payment of cash or the delivery of shares that would otherwise be due to such participant under an award. The administrator also has the authority to allow participants the opportunity to transfer outstanding awards to a financial institution or other person or entity selected by the administrator and to institute an exchange program by which outstanding awards may be surrendered or cancelled in exchange for awards of the same type which may have a higher or lower exercise price and/or different terms, awards of a different type and/or cash, or by which the exercise price of an outstanding award is increased or reduced. The administrator's decisions, interpretations and other actions are final and binding on all participants.

*Stock Options* 

Stock options may be granted under our 2025 Plan. The exercise price of options granted under our 2025 Plan must at least be equal to the fair market value of our Class A common stock on the date of grant. The term of an option may not exceed ten years. With respect to any participant who owns more than 10% of the voting power of all classes of our outstanding stock, the term of an incentive stock option granted to such participant must not exceed five years and the exercise price must equal at least 110% of the fair market value on the grant date. The administrator will determine the methods of payment of the exercise price of an option, which may include cash, shares or other property acceptable to the administrator, as well as other types of consideration permitted by applicable law. After the termination of service of an employee, director, or consultant, he or she may exercise his or her option for the period of time stated in his or her option agreement. In the absence of a specified time in an award agreement, if termination is due to death or disability, the option will remain exercisable for twelve months. In all other cases, in the absence of a specified time in an award agreement, the option will remain exercisable for three months following the termination of service. An option may not be exercised later than the expiration of its term. Subject to the provisions of our 2025 Plan, the administrator determines the other terms of options.

*Stock Appreciation Rights* 

Stock appreciation rights may be granted under our 2025 Plan. Stock appreciation rights allow the recipient to receive the appreciation in the fair market value of our Class A common stock between the exercise date and the date of grant. Stock appreciation rights may not have a term exceeding ten years. After the termination of service of an employee, director or consultant, he or she may exercise his or her stock appreciation right for the period of time stated in his or her stock appreciation rights agreement. In the absence of a specified time in an award agreement, if termination is due to death or disability, the stock appreciation rights will remain exercisable for twelve months. In all other cases, in the absence of a specified time in an award agreement, the stock appreciation rights will remain exercisable for three months following the termination of service. However, in no event may a stock appreciation right be exercised later than the expiration of its term. Subject to the provisions of our 2025 Plan, the administrator determines the other terms of stock appreciation rights, including when such rights become exercisable and whether to pay any increased appreciation in cash or with shares of our Class A common stock, or a combination thereof, except that the per share exercise price for the shares to be issued pursuant to the exercise of a stock appreciation right will be no less than 100% of the fair market value per share on the date of grant.

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*Restricted Stock* 

Restricted stock may be granted under our 2025 Plan. Restricted stock awards are grants of shares of our Class A common stock that vest in accordance with terms and conditions established by the administrator. The administrator will determine the number of shares of restricted stock granted to any employee, director or consultant and, subject to the provisions of our 2025 Plan, will determine the terms and conditions of such awards. The administrator may impose whatever conditions to vesting it determines to be appropriate (for example, the administrator may set restrictions based on the achievement of specific performance goals or continued service to us); provided, however, that the administrator, in its sole discretion, may accelerate the time at which any restrictions will lapse or be removed. Recipients of restricted stock awards generally will have voting and dividend rights with respect to such shares upon grant without regard to vesting, unless the administrator provides otherwise. Shares of restricted stock that do not vest are subject to our right of repurchase or forfeiture.

*Restricted Stock Units* 

RSUs may be granted under our 2025 Plan. RSUs are bookkeeping entries representing an amount equal to the fair market value of one share of our Class A common stock. Subject to the provisions of our 2025 Plan, the administrator determines the terms and conditions of RSUs, including the vesting criteria and the form and timing of payment. The administrator may set vesting criteria based upon the achievement of company-wide, divisional, business unit or individual goals (including, but not limited to, continued employment or service), applicable federal or state securities laws or any other basis determined by the administrator in its discretion. The administrator, in its sole discretion, may pay earned RSUs in the form of cash, in shares or in some combination thereof. Notwithstanding the foregoing, the administrator, in its sole discretion, may accelerate the time at which any vesting requirements will be deemed satisfied.

*Performance Units and Performance Shares* 

Performance units and performance shares may be granted under our 2025 Plan. Performance units and performance shares are awards that will result in a payment to a participant only if performance goals established by the administrator are achieved or the awards otherwise vest. The administrator will establish performance objectives or other vesting criteria in its discretion, which, depending on the extent to which they are met, will determine the number and/or the value of performance units and performance shares to be paid out to participants. The administrator may set performance objectives based on the achievement of company-wide, divisional, business unit, or individual goals (including, but not limited to, continued employment or service), applicable federal or state securities laws, or any other basis determined by the administrator in its discretion. After the grant of a performance unit or performance share, the administrator, in its sole discretion, may reduce or waive any performance criteria or other vesting provisions for such performance units or performance shares. Performance units shall have an initial dollar value established by the administrator on or prior to the grant date. Performance shares shall have an initial value equal to the fair market value of our Class A common stock on the grant date. The administrator, in its sole discretion, may pay earned performance units or performance shares in the form of cash, in shares or in some combination thereof.

*Non-Employee Directors* 

Our 2025 Plan provides that all non-employee directors will be eligible to receive all types of awards (except for incentive stock options) under our 2025 Plan. In connection with this offering, we have adopted a formal policy pursuant to which our non-employee directors will be eligible to receive equity awards under our 2025 Plan. In order to provide a maximum limit on the awards that can be made to our non-employee directors, our 2025 Plan provides that in any given fiscal year, a non-employee director will not be paid cash retainers or granted awards having a grant-date fair value greater than $750,000, but this limit is increased to $1,000,000 in connection with his or her initially joining the board of directors (in each case, excluding awards granted to him or her as a consultant or employee or granted on or prior to the effective date of the registration statement of which this prospectus forms a part). The grant-date fair values will be determined according to U.S. GAAP. The maximum limits do not reflect the intended size of any potential grants or a commitment to make grants to our non-employee directors under our 2025 Plan in the future.

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*Non-Transferability of Awards* 

Unless the administrator provides otherwise, our 2025 Plan generally does not allow for the transfer of awards and only the recipient of an award may exercise an award during his or her lifetime. If the administrator makes an award transferable, such award will contain such additional terms and conditions as the administrator deems appropriate.

*Certain Adjustments* 

In the event of certain changes in our capitalization, to prevent diminution or enlargement of the benefits or potential benefits available under our 2025 Plan, the administrator will adjust the number and class of shares that may be delivered under our 2025 Plan and/or the number, class and price of shares covered by each outstanding award, and the numerical share limits set forth in our 2025 Plan.

*Dissolution or Liquidation* 

In the event of our proposed liquidation or dissolution, the administrator will notify participants as soon as practicable and all awards will terminate immediately prior to the consummation of such proposed transaction.

*Merger or Change in Control* 

Our 2025 Plan will provide that, in the event of our merger with or into another corporation or entity or a change in control (as defined in our 2025 Plan), each outstanding award will be treated as the administrator determines, including, without limitation, that (1) awards will be assumed, or substantially equivalent awards will be substituted, by the acquiring or succeeding corporation (or an affiliate thereof) with appropriate adjustments as to the number and kind of shares and prices; (2) upon written notice to a participant, that the participant's awards will terminate upon or immediately prior to the consummation of such merger or change in control; (3) outstanding awards will vest and become exercisable, realizable or payable, or restrictions applicable to an award will lapse, in whole or in part prior to or upon consummation of such merger or change in control, and, to the extent the administrator determines, terminate upon or immediately prior to the effectiveness of such merger or change in control; (4) (A) the termination of an award in exchange for an amount of cash and/or property, if any, equal to the amount that would have been attained upon the exercise of such award or realization of the participant's rights as of the date of the occurrence of the transaction (and, for the avoidance of doubt, if as of the date of the occurrence of the transaction the administrator determines in good faith that no amount would have been attained upon the exercise of such award or realization of the participant's rights, then such award may be terminated by us without payment), or (B) the replacement of such award with other rights or property selected by the administrator in its sole discretion; (5) with respect only to an award (or portion thereof) that is unvested as of immediately prior to the effective time of the merger or change in control, the termination of the award immediately prior to the effective time of the merger or change in control with such payment to the participant (including no payment) as the administrator determines in its discretion; or (6) any combination of the foregoing. The administrator will not be obligated to treat all awards, all awards a participant holds, or all awards of the same type, similarly.

In the event an option or stock appreciation right is not assumed or substituted in the event of a merger or change in control, the administrator will notify each participant in writing or electronically that the option or stock appreciation right, as applicable, will be exercisable for a period of time determined by the administrator in its sole discretion, and the option or stock appreciation right, as applicable, will terminate upon the expiration of such period.

Awards granted to our outside directors will vest fully and become immediately exercisable, all restrictions on his or her restricted stock and RSUs will lapse and all performance goals or other vesting requirements for his or her performance shares and units will be deemed achieved at 100% of target levels and all other terms and conditions met.

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*Clawback* 

Awards will be subject to any clawback policy that we are required to adopt pursuant to the listing standards of any national securities exchange or association on which our stock is listed or as otherwise required by applicable laws, and the administrator also may specify in an award agreement that the participant's rights, payments and/or benefits with respect to an award will be subject to reduction, cancellation, forfeiture and/or recoupment upon the occurrence of certain specified events. Our board of directors may require a participant to forfeit, return or reimburse us all or a portion of the award and/or shares issued under the award, any amounts paid under the award, and any payments or proceeds paid or provided upon disposition of the shares issued under the award in order to comply with such clawback policy or applicable laws.

*Amendment and Termination* 

The administrator has the authority to amend, suspend or terminate our 2025 Plan provided such action does not impair the existing rights of any participant. Our 2025 Plan automatically will terminate in 2035, unless we terminate it sooner.

***2025 Employee Stock Purchase Plan***

Our board of directors has adopted, and our stockholders have approved, our ESPP. Our ESPP will be effective on the business day immediately prior to the effective date of the registration statement of which this prospectus forms a part. However, no offering period or purchase period will begin unless and until otherwise determined by our board of directors, and we expect offering periods under the ESPP will commence at a later date.

*Authorized Shares*

A total of 500,000 shares of our Class A common stock will be available for sale under our ESPP. The number of shares of our Class A common stock that will be available for sale under our ESPP also includes an annual increase on the first day of each fiscal year beginning with the fiscal year following the fiscal year in which the first enrollment date (if any) occurs, equal to the least of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•4,400,000 shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•three percent (3%) of the outstanding shares of all classes of our common stock as of the last day of the immediately preceding fiscal year; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•such other amount as our board of directors may determine.

*Plan Administration*

Our board of directors, or a committee appointed by our board of directors, will administer our ESPP, and have full but non-exclusive authority to interpret the terms of our ESPP and determine eligibility to participate, subject to the conditions of our ESPP, as described below. We expect our compensation committee to administer our ESPP. The administrator will have full and exclusive discretionary authority to construe, interpret and apply the terms of the ESPP, to delegate ministerial duties to any of our employees, to designate separate offerings under the ESPP, to designate our subsidiaries and affiliates as participating in the ESPP, to determine eligibility, to adjudicate all disputed claims filed under the ESPP and to establish procedures that it deems necessary or advisable for the administration of the ESPP, including, but not limited to, adopting such procedures, sub-plans and appendices to the ESPP enrollment agreement as are necessary or appropriate to permit participation in the ESPP by employees who are foreign nationals or employed outside the United States. The administrator's findings, decisions and determinations are final and binding on all participants to the full extent permitted by law.

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*Eligibility*

Generally, all of our employees will be eligible to participate if they are customarily employed by us, or any participating subsidiary, for at least 20 hours per week and more than five months in any calendar year. The administrator, in its discretion, may, prior to an enrollment date for all options granted on such enrollment date in an offering, determine that an employee who (1) has not completed at least two years of service (or a lesser period of time determined by the administrator) since his or her last hire date, (2) customarily works not more than 20 hours per week (or a lesser period of time determined by the administrator), (3) customarily works not more than five months per calendar year (or a lesser period of time determined by the administrator), (4) is a highly compensated employee within the meaning of Section 414(q) of the Code, or (5) is a highly compensated employee within the meaning of Section 414(q) of the Code with compensation above a certain level or is an officer or subject to disclosure requirements under Section 16(a) of the Exchange Act, is or is not eligible to participate in such offering period.

However, an employee may not be granted rights to purchase shares of our Class A common stock under our ESPP if such employee:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•immediately after the grant would own capital stock possessing 5% or more of the total combined voting power or value of all classes of our capital stock; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•hold rights to purchase shares of our Class A common stock under all of our employee stock purchase plans that accrue at a rate that exceeds $25,000 worth of shares of our Class A common stock for each calendar year.

*Offering Periods*

Our ESPP will include a component that allows us to make offerings intended to qualify under Section 423 of the Code and a component that allows us to make offerings not intended to qualify under Section 423 of the Code to designated companies, as described in our ESPP. Offering periods will begin and end on such dates as may be determined by the administrator in its discretion, in each case on a uniform and nondiscriminatory basis, and may contain one or more purchase periods. The administrator may change the duration of offering periods (including commencement dates) with respect to future offerings so long as such change is announced prior to the scheduled beginning of the first offering period affected. No offering period may last more than 27 months.

*Contributions*

Our ESPP will permit participants to purchase shares of our Class A common stock through contributions (in the form of payroll deductions or otherwise to the extent permitted by the administrator) of up to 15% of their eligible compensation. During any offering period or purchase period, as applicable, a participant may purchase a maximum number of shares of our Class A common stock to be determined by the administrator.

*Exercise of Purchase Right*

Amounts contributed and accumulated by the participant will be used to purchase shares of our common stock at the end of each six-month purchase period. The purchase price of the shares will be 85% of the lower of the fair market value of our Class A common stock on the first trading day of the offering period or on the exercise date. If the fair market value of our Class A common stock on the exercise date is less than the fair market value on the first trading day of the offering period, participants will be automatically withdrawn from such offering period immediately following their purchase of shares of our Class A common stock on the exercise date and will be automatically re-enrolled in the next offering period. Participants may end their participation at any time during an offering period and will be paid their accrued contributions that have not yet been used to purchase shares of our Class A common stock. Participation ends automatically upon termination of employment with us.

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*Non-Transferability*

A participant may not transfer rights granted under our ESPP (other than by will, the laws of descent and distribution or as otherwise provided under our ESPP).

*Merger or Change in Control*

Our ESPP provides that in the event of a merger or change in control, as defined under our ESPP, a successor corporation may assume or substitute each outstanding purchase right. If the successor corporation refuses to assume or substitute for the outstanding purchase right, the offering period then in progress will be shortened, and a new exercise date will be set that will be before the date of the proposed merger or change in control. The administrator will notify each participant that the exercise date has been changed and that the participant's option will be exercised automatically on the new exercise date unless prior to such date the participant has withdrawn from the offering period.

*Amendment; Termination*

The administrator will have the authority to amend, suspend or terminate our ESPP, except that, subject to certain exceptions described in our ESPP, no such action may adversely affect any outstanding rights to purchase shares of our Class A common stock under our ESPP. Our ESPP automatically will terminate in 2045, unless we terminate it sooner.

***2014 Gloo Holdings, LLC Membership Unit Option Plan***

The 2014 Plan was originally adopted by the Gloo Holdings, LLC board of managers and approved by the Gloo Holdings, LLC members in 2014.

The 2014 Plan allows Gloo Holdings, LLC to provide unit options (each, an option and the recipient of such option, an optionee) to eligible owners, officers, employees, managers and consultants of Gloo Holdings, LLC, any affiliate of Gloo Holdings, LLC, or any entity that provides services to Gloo Holdings, LLC or any affiliate of Gloo Holdings, LLC. It is expected that as of one business day prior to the effective date of the registration statement of which this prospectus forms a part, the 2014 Plan will be terminated and we will not grant any additional options under the 2014 Plan thereafter. However, the 2014 Plan will continue to govern the terms and conditions of the outstanding options previously granted under the 2014 Plan.

As of July 31, 2025, the following options were outstanding under the 2014 Plan: 14,269,176 unit options to acquire 14,269,176 common membership units of Gloo Holdings, LLC. All outstanding common unit options under the 2014 Plan are expected to be exchanged for options to purchase shares of Gloo Holdings, Inc. Class B common stock on a three-for-one basis when Gloo Holdings, Inc. assumes the 2014 Plan in connection with this offering.

*Plan Administration*

The 2014 Plan is currently administered by the Gloo Holdings, LLC board of managers or one or more committees appointed by the Gloo Holdings, LLC board of managers, and will be administered by the Gloo Holdings, Inc. board of directors or one or more committees appointed by the Gloo Holdings, Inc. board of directors when Gloo Holdings, Inc. assumes the 2014 Plan in connection with this offering. The administrator has the power to make determinations pursuant to the provisions of the 2014 Plan in its sole discretion. All decisions made by the administrator are final and binding. The administrator has the authority to adopt, alter and repeal administrative rules, guidelines and practices governing the 2014 Plan, to interpret the terms and provisions of the 2014 Plan and an award issued under the 2014 Plan, and any forms relating to the 2014 Plan, and to otherwise supervise the administration of the 2014 Plan. The administrator's policies and procedures may differ with respect to awards granted at different times or to different participants.

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The administrator's powers include the power to determine under what circumstances an option may be settled in cash or common units. The administrator also has the power to adopt, amend and rescind rules and regulations that, in its opinion, may be advisable in the administration of the 2014 Plan and to determine whether an award is to be adjusted, modified or purchased, or is to become fully exercisable, under the 2014 Plan.

*Eligibility*

Owners, officers, employees, managers and consultants of Gloo Holdings, LLC, any affiliate of Gloo Holdings, LLC, or any entity that provides services to Gloo Holdings, LLC or any affiliate of Gloo Holdings, LLC who, in the opinion of the 2014 Plan administrator, will be in a position to make contributions to the growth and success of Gloo Holdings, LLC or any affiliate of Gloo Holdings, LLC are eligible to receive options.

*Unit Options*

Options have been granted under the 2014 Plan. Subject to the provisions of the 2014 Plan, the administrator determines the terms and conditions of an option, including, but not limited to, the number of common units subject to an option, the option price, the option period, any exercise restriction or limitation and any exercise acceleration, forfeiture or waiver regarding any option, any common units relating thereto, any performance criteria and the satisfaction of such criteria.

The term of an option is set by the administrator, but the term of an option may not exceed ten years from the grant date. The administrator determines the option price per unit of the common units purchasable under an option, which equals the fair market value of the underlying common units on the grant date.

Under the 2014 Plan, options generally vest as to 40% on the second anniversary of the applicable vesting commencement date and 20% vest annually thereafter for a period of three (3) years; provided, however, that the administrator may, at its sole discretion, determine to apply a different vesting schedule.

The optionee may pay the exercise price of an option in accordance with the methods set forth in the 2014 Plan. Upon a "Termination of Employment" (as defined in the 2014 Plan) of the optionee, that optionee may exercise the vested portion of his or her option following the termination date for 30 days (or 1 year in the event of death or disability). In no event will an option remain exercisable beyond its original term. If an optionee does not exercise his or her option within the time specified, the option will terminate. The administrator has the discretion to determine exercisability periods for an option.

*Non-transferability of Options*

Except as otherwise set forth in the 2014 Plan, the operating agreement of Gloo Holdings, LLC or other organizational documents of Gloo Holdings, LLC, no award under the 2014 Plan is transferable by the participant other than by will or by the laws of descent and distribution. An award may be exercised during the lifetime of the holder of an award only by such holder.

*Change in Capitalization*

The administrator will adjust or substitute the number of common units covered by outstanding awards, the number of common units available for issuance under the 2014 Plan, the exercise price per unit covered by outstanding awards, performance conditions and any other characteristics or terms of the awards as the administrator deems necessary or appropriate to reflect equitably the effects of any unit distribution, unit split, combination or exchange of common units, recapitalization or other change in the capital structure of Gloo Holdings, LLC, separation or division of Gloo Holdings, LLC (including, but not limited to, a split-up, spin-off, split-off or distribution to unitholders other than a normal cash distribution), sale by Gloo Holdings, LLC of all or a substantial portion of its assets (measured on either a stand-alone or consolidated basis), reorganization, rights offering, a partial or complete liquidation, or any other similar transaction, unit offering or event involving Gloo Holdings, LLC and having an effect similar to any of the foregoing. No common units will include preemption or antidilution rights of any kind unless such rights are specifically set forth in the operating agreement of Gloo Holdings, LLC.

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*Change in Control*

In the event of a change in control (which also includes a liquidation or dissolution of Gloo Holdings, LLC), unless otherwise provided in the instrument evidencing the unit option or any other written agreement between the Gloo Holdings, LLC or any affiliate of Gloo Holdings, LLC and the participant or unless otherwise expressly provided by the administrator at the time of grant of any option, the administrator may take one or more of the following actions with respect to options:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•arrange for the surviving corporation or acquiring corporation (or the surviving or acquiring corporation's parent company) to assume or continue the option or to substitute a similar award for the option (including, but not limited to, an award to acquire the same consideration paid to the unitholders of Gloo Holdings, LLC pursuant to the change in control);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•arrange for the assignment of any reacquisition or repurchase rights held by Gloo Holdings, LLC in respect of common units issued pursuant to the option to the surviving corporation or acquiring corporation (or the surviving or acquiring corporation's parent company);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•accelerate the vesting, in whole or in part, of the option (and, if applicable, the time at which the option may be exercised) to a date prior to the effective time of such change in control as the administrator determines (or, if the administrator does not determine such a date, to the date that is five days prior to the effective date of the change in control), with such option terminating if not exercised (if applicable) at or prior to the effective time of the change in control; provided, however, that the administrator may require option holders to complete and deliver to Gloo Holdings, LLC a notice of exercise before the effective date of a change in control, which exercise is contingent upon the effectiveness of such change in control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•arrange for the lapse, in whole or in part, of any reacquisition or repurchase rights held by Gloo Holdings, LLC with respect to the option;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•cancel or arrange for the cancellation of the option, to the extent not vested or not exercised prior to the effective time of the change in control, in exchange for such cash consideration, if any, as the administrator, in its sole discretion, may consider appropriate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•make a payment, in such form as may be determined by the administrator equal to the excess, if any, of (A) the value of the property the optionee would have received upon the exercise of the option immediately prior to the effective time of the change in control, over (B) any exercise price payable by such holder in connection with such exercise. For clarity, this payment may be $0 if the value of the property is equal to or less than the exercise price. Payments under this provision may be delayed to the same extent that payment of consideration to the holders in Gloo Holdings, LLC in connection with the change in control is delayed as a result of escrows, earn outs, holdbacks or any other contingencies.

The administrator need not take the same action or actions with respect to all options or portions thereof or with respect to all optionees. The administrator may take different actions with respect to the vested and unvested portions of an option.

*Amendment and Termination*

The administrator may amend the 2014 Plan at any time subject to certain limitations as set forth in the 2014 Plan. In addition, no such amendment will be made without the approval of the unitholders of Gloo Holdings, LLC to the extent such approval is required by law or by agreement among all the unitholders.

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***Gloo Holdings, LLC and Gloo Incentives, LLC Profits Interests Units***

We have granted our employees and directors awards of Incentive Units, which are intended to qualify as profits interests units for United States federal tax purposes and pursuant to which the holder may receive certain distributions with respect to any such Incentive Units that have vested once such distributions payable to holders of Incentive Units in Gloo Holdings, LLC or Gloo Incentives, LLC, in each case which exceed the specified participation threshold for the specific award of Incentive Units.

The Incentive Units vest according to the approved vesting schedule. In general, the Incentive Units vest as to 40% on the first vesting date (which, unless otherwise specified under the terms of the applicable award, generally occurs on the second anniversary of the grant date) and as to the remaining 60% in equal annual installments over a period of three years thereafter, subject to the holder's continued employment or service through each vesting date.

In connection with this offering, unvested Incentive Units will be exchanged for shares of restricted Class B common stock of Gloo Holdings, Inc., subject to the same vesting conditions that apply to the unvested Incentive Units, and vested Incentive Units will be exchanged for shares of Class B common stock of Gloo Holdings, Inc.

***Executive Incentive Compensation Plan***

Our board of directors has adopted our Executive Incentive Compensation Plan (the Incentive Compensation Plan). Our Incentive Compensation Plan allows us to provide cash incentive awards to employees selected by our board of directors or the compensation committee (the administrator), including our named executive officers, based upon performance goals established by the administrator. Pursuant to the Incentive Compensation Plan, the administrator, in its sole discretion, will establish a target award for each participant and a bonus pool, with actual awards payable from such bonus pool, with respect to the applicable performance period.

Under our Incentive Compensation Plan, the administrator will determine the performance goals applicable to any award, which goals may include, without limitation, goals related to: attainment of research and development milestones; sales bookings; business divestitures and acquisitions; capital raising; cash flow; cash position; contract awards or backlog; corporate transactions; customer renewals; customer retention rates from an acquired company, subsidiary, business unit or division; earnings (which may include any calculation of earnings, including but not limited to earnings before interest and taxes, earnings before taxes, earnings before interest, taxes, depreciation and amortization and net taxes); earnings per share; expenses; financial milestones; gross margin; growth in stockholder value relative to the moving average of the S&P 500 Index or another index; internal rate of return; leadership development or succession planning; license or research collaboration arrangements; market share; net income; net profit; net sales; new product or business development; new product invention or innovation; number of customers; operating cash flow; operating expenses; operating income; operating margin; overhead or other expense reduction; patents; procurement; product defect measures; product release timelines; productivity; profit; regulatory milestones or regulatory-related goals; retained earnings; return on assets; return on capital; return on equity; return on investment; return on sales; revenue; revenue growth; sales results; sales growth; savings; stock price; time to market; total stockholder return; working capital; unadjusted or adjusted actual contract value; unadjusted or adjusted total contract value; and individual objectives such as peer reviews or other subjective or objective criteria. The performance goals may differ from participant to participant and from award to award.

The administrator of our Incentive Compensation Plan may, in its sole discretion and at any time, increase, reduce or eliminate a participant's actual award, and/or increase, reduce or eliminate the amount allocated to the bonus pool for a particular performance period. The actual award may be below, at, or above a participant's target award, in the discretion of the administrator. The administrator may determine the amount of any increase, reduction or elimination on the basis of such factors as it deems relevant, and it is not required to establish any allocation or weighting with respect to the factors it considers.

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Actual awards will be paid in cash (or its equivalent) in a single lump sum only after they are earned, which usually requires continued employment through the date the actual award is paid. The administrator reserves the right to settle an actual award with a grant of an equity award under our then-current equity compensation plan, which equity award may have such terms and conditions, as the administrator determines. Payment of awards occurs as soon as administratively practicable after they are earned, but no later than the dates set forth in our Incentive Compensation Plan.

Our board of directors and our compensation committee have the authority to amend, alter, suspend or terminate our Incentive Compensation Plan, provided such action does not impair the existing rights of any participant with respect to any earned awards.

***Clawback Policy***

We have adopted an executive compensation recovery policy that will become effective as of the effective date of the registration statement of which this prospectus forms a part (the Clawback Policy), applicable to our current and future former executive officers in compliance with the requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act as implemented by SEC rules and regulations and Nasdaq listing standards. The Clawback Policy provides for the non-discretionary recovery of excess incentive-based compensation from current and former executive officers in the event of an accounting restatement, whether or not the executive officer was at fault for the restatement. As described in more detail in the Clawback Policy, excess compensation generally is incentive-based compensation that exceeds the amount a covered executive otherwise would have received had the compensation been determined based on the restated amounts. Excess compensation is generally covered by the Clawback Policy if received by an individual following the effective date of the policy and during the three completed fiscal years immediately prior to the date it is determined that an accounting restatement is required, such amounts were received after the individual became an executive officer and such individual was an executive officer at any time during the applicable performance period.

***401(k) Plan***

We maintain a 401(k) retirement savings plan for the benefit of our employees, including our named executive officers, who satisfy certain eligibility requirements. Our 401(k) plan provides eligible employees with an opportunity to save for retirement on a tax-advantaged basis. Under our 401(k) plan, eligible employees may elect to defer a portion of their compensation, within the limits prescribed by the Code and the applicable limits under the 401(k) plan, on a pre-tax or after-tax (Roth) basis, through contributions to the 401(k) plan. The 401(k) plan permits us to make certain matching contributions. All of a participant's contributions into the 401(k) plan are 100% vested when contributed. The 401(k) plan is intended to qualify under Sections 401(a) and 501(a) of the Code. As a tax-qualified retirement plan, pre-tax contributions to the 401(k) plan and earnings on those pre-tax contributions are not taxable to the employees until distributed from the 401(k) plan, and earnings on Roth contributions are not taxable when distributed from the 401(k) plan.

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**CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS**

In addition to the compensation arrangements, including employment, termination of employment and change in control arrangements, discussed in the sections titled "Management" and "Executive Compensation," the following is a description of each transaction since January 31, 2023, and each currently proposed transaction, in which:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•we have been or are to be a participant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the amount involved exceeded or exceeds $120,000; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•any of our directors, executive officers or beneficial holders of more than 5% of any class of our capital stock, or any immediate family member of, or person sharing the household with, any of these individuals or entities, had or will have a direct or indirect material interest.

**Policies and Procedures for Related Person Transactions**

We have adopted a formal, written policy regarding related person transactions, which will become effective upon the effectiveness of the registration statement of which this prospectus forms a part. This written policy regarding related person transactions provides that a related person transaction is a transaction, arrangement or relationship or any series of similar transactions, arrangements or relationships, in which we are a participant and in which a related person has, had or will have a direct or indirect material interest and in which the aggregate amount involved exceeds $120,000. Our policy also provides that a related person means any of our executive officers and directors (including director nominees), in each case at any time since the beginning of our last fiscal year, or holders of more than 5% of any class of our voting securities and any member of the immediate family of, or person sharing the household with, any of the foregoing persons. Our audit committee has the primary responsibility for reviewing and approving or disapproving related person transactions. In addition to our policy, our audit committee charter that will be in effect upon the effectiveness of the registration statement of which this prospectus forms a part will provide that our audit committee shall review and approve or disapprove any related person transactions.

All related person transactions described in this section occurred prior to adoption of the formal, written policy described above, and therefore these transactions were not subject to the approval and review procedures set forth in the policy.

**Corporate Reorganization**

We currently operate as Gloo Holdings, LLC, a Delaware limited liability company. For purposes of this offering, we formed Gloo Holdings, Inc., a Delaware corporation, which is the registrant in this offering. Immediately prior to the completion of this offering, we will complete a series of internal reorganization transactions pursuant to which, among other things, a Delaware limited liability company and wholly owned subsidiary of Gloo Holdings, Inc., will merge with and into Gloo Holdings, LLC, with Gloo Holdings, LLC as the surviving entity. As a result, Gloo Holdings, LLC will become a wholly owned subsidiary of Gloo Holdings, Inc., and the members of Gloo Holdings, LLC immediately prior to the consummation of the merger, including our directors, officers and persons that beneficially own more than 5% of any class of our common stock, will become holders of shares of Class B common stock of Gloo Holdings, Inc. The Gloo Holdings, LLC Agreement (the LLC Agreement) will also be amended and restated in connection with the Corporate Reorganization. For more information, see the section titled "Corporate Reorganization."

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**Series A Preferred Unit Issuances**

On December 8, 2023, we entered into a unit purchase agreement with Pearl Street Trust pursuant to which we issued 3,000,000 Series A preferred units of Gloo Holdings, LLC to Pearl Street Trust for a purchase price of $18,000,000. Mr. Beck, our chief executive officer and a member of our board of directors, is a trustee for Pearl Street Trust.

On December 8, 2023, we entered into a unit purchase agreement with JAJO Partners, LP pursuant to which we issued 166,667 Series A preferred units of Gloo Holdings, LLC to JAJO Partners, LP for a purchase price of $1,000,002. Jack Furst, a member of our board of directors, is the chief executive officer, president and treasurer of JAJO LLC which is the general partner of JAJO Partners, LP.

On December 8, 2023, we entered into a unit purchase agreement with Patrick P. Gelsinger Revocable Trust UAD 11/7/2000 pursuant to which we issued 41,667 Series A preferred units of Gloo Holdings, LLC to Patrick P. Gelsinger Revocable Trust UAD 11/7/2000 for a purchase price of $250,002. Patrick Gelsinger, our head of technology and a member of our board of directors, is the trustee of Patrick P. Gelsinger Revocable Trust UAD 11/7/2000.

On December 8, 2023, we entered into a unit purchase agreement with HL American Investments LLC pursuant to which we issued 166,667 Series A preferred units of Gloo Holdings, LLC to HL American Investments LLC for a purchase price of $1,000,002. Derek Green, a member of our board of directors, is the vice president of investments of HL American Investments LLC.

On December 8, 2023, we entered into a series of unit purchase agreements with several purchasers pursuant to which we issued a total of 9,126,116 Series A preferred units of Gloo Holdings, LLC for an aggregate purchase price of $54,756,693 (the 2023 Financing). In connection with the 2023 Financing, Mr. Beck, his spouse and Pearl Street Trust entered into put agreements with certain purchasers in the 2023 Financing, none of which are related parties for purposes of this disclosure, and us (the 2023 Put Agreements), pursuant to which Mr. Beck, his spouse and Pearl Street Trust jointly and severally agreed to purchase all of the units purchased by those purchasers for $6.00 per unit, or $40,458,342 in the aggregate, upon such purchaser's demand during the period beginning on the first anniversary of the effective date of each put agreement and ending on the fourth anniversary of the effective date of each put agreement. We are party to the 2023 Put Agreements solely to represent and warrant that each such agreement was approved pursuant to the terms of the then-effective LLC Agreement. In connection with the 2023 Financing, Mr. Beck and his spouse also entered into guaranty agreements with certain of the purchasers, none of which are related parties for purposes of this disclosure, pursuant to which Mr. Beck and his spouse personally guaranteed the payment of the obligations under the respective 2023 Put Agreements, totaling $26,858,340, within ten business days of a demand made by any of those purchasers. Mr. Beck's and his spouse's obligations under one purchaser's 2023 Put Agreement is secured by a mortgage on certain real property owned by Pearl Street Trust.

**Secured Promissory Notes and Warrant Issuances**

On April 23, 2024, we entered into a note purchase agreement with Pearl Street Trust and several other purchasers (the Original NPA) pursuant to which we issued a series of secured promissory notes with an aggregate principal amount of $45,000,000 to Pearl Street Trust on April 23, 2024, July 23, 2024 and January 29, 2025, each with a maturity date of April 23, 2027 (the Maturity Date). These secured promissory notes have a per annum interest rate of 8% plus the greater of (1) 1% or (2) the forward-looking term rate for a one-month term based on the secured overnight financing rate on the first business day of each calendar quarter, that has been selected or recommended by the Federal Reserve Board or the Federal Reserve Bank of New York. In connection with these secured promissory notes, we issued warrants to Pearl Street Trust, and to the other purchasers, on the same dates their notes were purchased, to purchase an aggregate of 2,250,000 Gloo Holdings, LLC common units at an exercise price of $6.00 per unit. In addition, we entered into a security agreement with Pearl Street Trust and the other parties to the Original NPA pursuant to which we granted a security interest in certain collateral defined in such agreement as collateral security for the full payment and performance of the secured promissory notes issued pursuant to the Original NPA (the Security Agreement). Mr. Furst acted as collateral agent under the Security Agreement.

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We entered into an amended and restated note purchase agreement on June 23, 2025 with Pearl Street Trust and certain of the other purchasers who were parties to the Original NPA (the A&R NPA), pursuant to which the secured promissory notes held by Pearl Street Trust, and the other parties to the A&R NPA, were amended and restated to, among other things, confirm a new aggregate principal amount for Pearl Street Trust of $46,768,121 and to add provisions which will automatically convert the principal amount into shares of our Class B common stock upon the effectiveness of this registration statement at a conversion price of the lesser of (1) 80% of the public offering price of our Class A common stock and (2) $30.00. In connection with the amendment and restatement of the secured promissory notes, the warrants issued to Pearl Street Trust, and to certain other parties to the A&R NPA, were terminated. In addition, in connection with the A&R NPA, we entered into an amended and restated security agreement with Pearl Street Trust and the other parties to the A&R NPA pursuant to which we granted a security interest in certain collateral defined in such agreement as collateral security for the full payment and performance of the secured promissory notes issued pursuant to the A&R NPA (the A&R Security Agreement).

In connection with the A&R NPA, on June 23, 2025 Pearl Street Trust, Mr. Beck and his spouse entered into a guaranty agreement with the other parties to the A&R NPA, holding notes with an aggregate principal amount of $40,788,624, pursuant to which Pearl Street Trust, Mr. Beck and his spouse, jointly and severally, guaranteed to pay the outstanding balances of these notes on demand if any of the following events of default occurs and is outstanding when such demand is made: (1) we liquidate or wind up our business; (2) we file for bankruptcy; (3) an involuntary petition is filed against us under any bankruptcy statute and is in effect for 90 days; (4) we fail to pay any accrued interest or unpaid principal on the Maturity Date; or (5) we materially breach any warranty, agreement, covenant or representation in the A&R Security Agreement, the A&R NPA or the related form of note.

Also in connection with the A&R NPA, on July 3, 2025, Mr. Beck entered into put agreements with certain holders of notes with an aggregate principal amount of $2,000,000, pursuant to which Mr. Beck agreed to purchase the notes or the equity securities issuable upon conversion of the notes for a purchase price equal to the principal amount of the notes during a two-month period beginning on February 1, 2026.

On April 24, 2024, pursuant to the Original NPA, we issued a secured promissory note with a principal amount of $10,000,000 to FMAB Partners, LP with a maturity date of April 23, 2027, which was subsequently amended on September 9, 2025 (the FMAB Note). This secured promissory note has a per annum interest rate of 8% plus the greater of (1) 1% or (2) the forward-looking term rate for a one-month term based on the secured overnight financing rate on the first business day of each calendar quarter, that has been selected or recommended by the Federal Reserve Board or the Federal Reserve Bank of New York. In connection with this secured promissory note, we issued a warrant to FMAB Partners on April 24, 2024 to purchase 500,000 Gloo Holdings, LLC common units at an exercise price of $6.00 per unit. FMAB Partners did not exchange the FMAB Note pursuant to the A&R NPA and as such this secured promissory note is not convertible into shares of our Class B common stock and the warrants issued to FMAB Partners remain outstanding. Mr. Furst is the chief executive officer, president and treasurer of JAJO LLC which is the general partner of FMAB Partners. In connection with the issuance of the FMAB Note, Pearl Street Trust, Mr. Beck and his spouse entered into a guaranty agreement with FMAB Partners pursuant to which Pearl Street Trust, Mr. Beck and his spouse jointly and severally guaranteed to pay the outstanding balance of the FMAB Note on demand if any of the following events of default occurs and is outstanding for at least 90 days: (1) we liquidate, dissolve or wind up our business; (2) we file for bankruptcy; (3) an involuntary petition is filed against us under any bankruptcy statute; (4) we fail to pay any interest or to repay principal as required by the FMAB Note; or (5) we materially breach any warranty, agreement, covenant or representation in the Original NPA, the Security Agreement or the FMAB Note.

On July 1, 2025, July 24, 2025, July 31, 2025, October 29, 2025 and October 30, 2025, we issued additional secured convertible promissory notes on the same terms as the other secured convertible notes issued pursuant to the A&R NPA with aggregate principal amount of $51,000,000 to Pearl Street Trust.

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On August 19, 2025, pursuant to the A&R NPA, we issued a secured convertible promissory note on the same terms as the other secured convertible notes issued pursuant to the A&R NPA with a principal amount of $1,000,000 to Patrick & Linda Gelsinger Trust UAD 07/29/2017. Mr. Gelsinger is a trustee of the Patrick & Linda Gelsinger Trust UAD 07/29/2017.

**Shares Issued in Connection with Acquisitions and Related Transactions**

On April 29, 2024, we entered into an asset purchase agreement pursuant to which we purchased certain assets of Christianity Today International for a contractual purchase price of $5,500,000 consisting of $1,500,000 in cash and 666,667 of Series A preferred units of Gloo Holdings, LLC (the Christianity Today Acquisition). Nona Jones and Bishop Claude Alexander, each members of our board of directors, serve on the board of directors of Christianity Today and received no compensation from the transaction.

In connection with the Christianity Today Acquisition, we purchased advertising and marketing services pursuant to several services agreements from Christianity Today for a total of $141,000 for fiscal 2024. We have ongoing commitments with Christianity Today for additional advertising and marketing services and we expect to pay Christianity Today $326,000 in fiscal 2025 for such services.

On August 1, 2024, our wholly owned subsidiary, Gloo Technologies, LLC, entered into an asset purchase agreement pursuant to which it purchased the Church Metrics platform from Life Covenant Church, Inc. for a contractual purchase price of $2,500,002 consisting entirely of 416,667 Series A preferred units of Gloo Holdings, LLC (the Church Metrics Acquisition). Robert Gruenewald, a member of our board of directors, is a board member and vice president of Life Covenant Church.

On March 12, 2025, we entered into a membership interest purchase agreement pursuant to which we purchased a majority interest of Servus Consulting Partners, LLC from its members for a contractual purchase price of $5,562,300 consisting of $1,425,000 in cash and 689,550 of Series A preferred units of Gloo Holdings, LLC (the Servant Acquisition). Mr. Beck and Mr. Gruenewald are members of Servus Consulting Partners' board of directors and received no compensation from the transaction.

On September 27, 2024, we entered into an asset contribution agreement pursuant to which we purchased substantially all of the assets of InspireHub, Inc. for a contractual purchase price of $3,616,250 consisting entirely of 1,375,000 Gloo Holdings, LLC common units. Mr. Furst is a director of InspireHub.

On January 2, 2024, we entered into a securities purchase agreement pursuant to which we purchased 100% of the outstanding equity of Outreach Media, Inc. from Evans Revocable Living Trust and Evans Family Charitable Trust for an aggregate upfront contractual purchase price of $40,000,000, consisting of $20,000,000 in cash and 3,333,334 Series A preferred units of Gloo Holdings, LLC, with the possibility of additional earn out consideration (the Outreach Acquisition).

On February 18, 2025, we entered into a securities purchase agreement pursuant to which we purchased a minority interest of Barna Holdings, LLC from Issachar Holdings, LLC for an aggregate contractual purchase price of $4,900,000, consisting of $1,500,000 in cash and 566,667 Series A preferred units of Gloo Holdings, LLC (the Barna Acquisition).

In connection with each of the Christianity Today Acquisition, the Church Metrics Acquisition, the Servant Acquisition, the Outreach Acquisition and the Barna Acquisition, Mr. Beck, his spouse and Pearl Street Trust entered into a put option agreement with the sellers, pursuant to which Pearl Street Trust, Mr. Beck and his spouse jointly and severally agreed to purchase on demand from the sellers their Gloo Holdings, LLC Series A preferred units at a price ranging from $6.00 to $9.00 per unit during specified periods. In connection with the closing of the Outreach Acquisition, Mr. Beck, his spouse and Pearl Street Trust also entered into a guaranty agreement with the sellers pursuant to which Mr. Beck, his spouse and Pearl Street Trust jointly and severally guaranteed to pay the put under the related put option agreement within a specified time period.

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**Other Transactions**

On February 1, 2025, we entered into a services agreement with Generous Life, LLC pursuant to which Generous Life provides strategic consulting and advisory services for us in exchange for an option to purchase 333,333 Gloo Holdings, LLC common units at an exercise price of $6.00 per unit. The units subject to the option vest in equal monthly installments over the course of four years subject to Generous Life continuing to provide services to us. Mr. Gruenewald is the sole member of Generous Life.

On February 1, 2025, we entered into a services agreement with YouVersion, Inc. pursuant to which YouVersion provides strategic consulting and advisory services for us in exchange for an option to purchase 333,333 Gloo Holdings, LLC common units at an exercise price of $6.00 per unit. The units subject to the option vest in equal monthly installments over the course of four years subject to YouVersion continuing to provide services to us. Mr. Gruenewald is a director and officer of YouVersion.

We leased a total of 7,804 square feet of office space from Tango 815, LLC and Tango 819, LLC from January 1, 2023 through December 31, 2025 for aggregate rent of $702,360. Mr. Beck is a manager of both Tango 815 and Tango 819.

On February 1, 2023 and April 1, 2024, we entered into vendor services agreements with Singularity Interactive, LLC pursuant to which Singularity provides strategy and executive consulting services to us in exchange for an aggregate payment of $875,000. Mr. Beck is a member of Singularity Interactive's board of managers.

We have an arrangement with Entertainment Technology Investments, Inc. pursuant to which it reimburses us for 100% of the salary we pay to Susan Elam, one of our employees. This amounted to a reimbursement of $122,000 for fiscal 2023, $147,000 for fiscal 2024 and we expect to be reimbursed $122,000 for fiscal 2025. Mr. Beck is the President of Entertainment Technology Investments.

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**PRINCIPAL STOCKHOLDERS**

The following table sets forth information regarding the beneficial ownership of our capital stock as of September 30, 2025, and as adjusted to reflect the sale of our capital stock included in the shares offered by this prospectus, and assuming no purchase of shares in this offering, by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•each person, or group of affiliated persons, known by us to beneficially own more than 5% of any class of our common stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•each of our named executive officers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•each of our directors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•all of our executive officers and directors as a group.

We have determined beneficial ownership in accordance with the rules and regulations of the SEC, and thus it represents sole or shared voting or investment power with respect to our securities. Unless otherwise indicated, the persons or entities identified in the table have sole voting power and sole investment power with respect to all shares shown as beneficially owned by them, subject to community property laws where applicable. The information does not necessarily indicate beneficial ownership for any other purpose, including for purposes of Section 13(d) and 13(g) of the Exchange Act.

The percentage of beneficial ownership prior to the offering shown in the table is based upon no shares of Class A common stock and 64,554,202 shares of Class B common stock outstanding as of September 30, 2025, after giving effect to the Corporate Reorganization (including the Reverse Split) and the Notes Conversion, based on an assumed initial public offering price of $11.00 per share, which is the midpoint of the range set forth on the cover page of the prospectus. The percentage of beneficial ownership after the offering shown in the table is based on 9,100,000 shares of Class A common stock and 64,554,202 shares of Class B common stock outstanding after the closing of this offering, assuming no exercise of the underwriters' option to purchase additional shares.

We have deemed shares of our Class B common stock subject to stock options and warrants that are currently exercisable or exercisable within 60 days of September 30, 2025, to be outstanding and to be beneficially owned by the person holding the stock option for the purpose of computing the percentage ownership of that person. We did not deem these shares outstanding, however, for the purpose of computing the percentage ownership of any other person.

The table below does not reflect any shares of Class A common stock that may be purchased in this offering by the persons included therein, including through our directed share program described in the section titled "Underwriting."

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Unless otherwise indicated, the address for each person or entity listed in the table is c/o Gloo Holdings, Inc., 831 Pearl Street, Boulder, Colorado 80302.

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Shares Beneficially Owned Prior to the Offering** | **Shares Beneficially Owned Prior to the Offering** | **Shares Beneficially Owned Prior to the Offering** | **Shares Beneficially Owned Prior to the Offering** | **Percent of<br>Total** | **Shares Beneficially Owned After the Offering** | **Shares Beneficially Owned After the Offering** | **Shares Beneficially Owned After the Offering** | **Shares Beneficially Owned After the Offering** | **Percent of<br>Total** |
|  | **Class A<br>Common Stock** | **Class A<br>Common Stock** | **Class B<br>Common Stock** | **Class B<br>Common Stock** | **Voting<br>Power** | **Class A<br>Common Stock** | **Class A<br>Common Stock** | **Class B<br>Common Stock** | **Class B<br>Common Stock** | **Voting<br>Power** |
| **Name of Beneficial Owner** | **Number of<br>Shares** | **%** | **Number of<br>Shares** | **%** | **Prior to the<br>Offering**<sup>(1)</sup> | **Number of<br>Shares** | **%** | **Number of<br>Shares** | **%** | **After the<br>Offering**<sup>(1)</sup> |
| ***Greater than 5%<br> stockholders:*** |  |  |  |  |  |  |  |  |  |  |
| Pearl Street Trust<sup>(2)</sup> |  |  | 24400451 | 37.8% | 37.8% |  |  | 24400451 | 37.8% | 37.3% |
| Thrivent Financial for Lutherans<sup>(3)</sup> |  |  | 4786477 | 7.4% | 7.4% |  |  | 4786477 | 7.4% | 7.3% |
| The Stephen and Pamela Thorne 2020 Nevada Irrevocable Trust<sup>(4)</sup> |  |  | 3410107 | 5.3% | 5.3% |  |  | 3410107 | 5.3% | 5.2% |
| ***Named Executive<br> Officers and<br> Directors:*** |  |  |  |  |  |  |  |  |  |  |
| Scott Beck<sup>(5)</sup> |  |  | 28391730 | 44.0% | 44.0% |  |  | 28391730 | 44.0% | 43.4% |
| Matthew Gotschall<sup>(6)</sup> |  |  | 35640 | \* | \* |  |  | 35640 | \* | \* |
| Bishop Claude<br>Alexander |  |  |  |  |  |  |  |  |  |  |
| Jack Furst<sup>(7)</sup> |  |  | 1985344 | 3.1% | 3.1% |  |  | 1985344 | 3.1% | 3.0% |
| Patrick Gelsinger<sup>(8)</sup> |  |  | 1083483 | 1.7% | 1.7% |  |  | 1083483 | 1.7% | 1.6% |
| Derek Green<sup>(9)</sup> |  |  | 55555 | \* | \* |  |  | 55555 | \* | \* |
| Elizabeth Grennan |  |  |  |  |  |  |  |  |  |  |
| Robert Gruenewald<sup>(10)</sup> |  |  | 41666 | \* | \* |  |  | 41666 | \* | \* |
| Nona Jones |  |  |  |  |  |  |  |  |  |  |
| ***All directors and<br> executive<br> officers as<br> a group<br> (10 persons)*** |  |  | 31426752 | 48.3% | 48.3% |  |  | 31426752 | 48.3% | 47.6% |

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\* Represents beneficial ownership of less than 1%.

(1)Percentage total voting power represents voting power with respect to all shares of our Class A common stock and Class B common stock, as a single class. Each holder of Class B common stock shall be entitled to ten votes per share of Class B common stock and each holder of Class A common stock shall be entitled to one vote per share of Class A common stock on all matters submitted to our stockholders for a vote. The Class A common stock and Class B common stock vote together as a single class on all matters submitted to a vote of our stockholders, except as may otherwise be required by law.

(2)Consists of 24,400,451 shares of Class B common stock held of record by Pearl Street Trust. Scott Beck and his spouse are trustees of Pearl Street Trust and may be deemed to have beneficial ownership of the shares held by Pearl Street Trust.

(3)Consists of 4,786,477 shares of Class B common stock held of record by Thrivent Financial for Lutherans. No natural person or persons has sole or shared voting or investment power with respect to any shares held by Thrivent Financial for Lutherans. The address for this beneficial owner is 4321 North Ballard Road Appleton, Wisconsin 54919.

(4)Consists of 3,410,107 shares of Class B common stock held of record by Excellence Worldwide, LLC (Excellence Worldwide). The Stephen and Pamela Thorne 2020 Nevada Irrevocable Trust (Thorne Trust) is the sole member and manager of Excellence Worldwide. Stephen and Pamela Thorne serve as management trustees of the Thorne Trust and may be deemed to hold voting power with respect to the shares held of record by Excellence Worldwide. Dr. Carolyn Ghazal serves as the distribution trustee of the Thorne Trust and may be deemed to hold dispositive power with respect to the shares held of record by Excellence Worldwide. The address for this beneficial owner is 3521 Volunteer Boulevard, Henderson, Nevada 89044.

(5)Consists of (a) 1,166,666 shares of Class B common stock and 17,776 shares underlying options to purchase shares of Class B common stock exercisable within 60 days of September 30, 2025, and (b) 24,400,451 shares of Class B common stock held of record by Pearl Street Trust, 1,833,333 shares of Class B common stock held of record by The Theresa Beck 2020 Irrevocable Trust dated May 30, 2020, 500,000 shares of Class B common stock held of record by The Scott A. Beck 2025 Irrevocable Trust, 88,889 shares of Class B common stock held of record by Bowanabee Foundation and 384,615 shares of Class B common stock held of record by Gloo Enterprises, LLC. Mr. Beck is (a) the trustee of The Theresa Beck 2020 Irrevocable Trust dated May 30, 2020, (b) the trustee of The Scott A. Beck 2025 Irrevocable Trust, (c) a director of Bowanabee Foundation and (d) a manager of Gloo Enterprises, LLC. By virtue of his relationships, Mr. Beck may be deemed to have beneficial ownership of the shares held of record by each of Pearl Street Trust, The Theresa Beck 2020 Irrevocable Trust dated May 30, 2020, The Scott A. Beck 2025 Irrevocable Trust, Bowanabee Foundation and Gloo Enterprises, LLC.

(6)Consists of 35,640 shares underlying options to purchase shares of Class B common stock that are exercisable within 60 days of September 30, 2025.

(7)Consists of 544,444 shares of Class B common stock held of record by JAJO Partners, LP, 166,666 shares underlying warrants exercisable for shares of Class B common stock held of record by FMAB Partners LP, 732,856 shares of Class B common stock held of record by Oak Stream Investors III, Ltd., 83,045 shares of Class B common stock held of record by DLF Family Trust and 458,333 shares of Class B common stock held of record by InspireHub, Inc. Mr. Furst is (a) the president of JAJO LLC which is the general partner of JAJO Partners LP, and FMAB Partners, LP (b) the chairman of the board of Oak Stream Ranch which is the general partner of Oak Stream Investors III, Ltd, (c) the trustee of DLF Family Trust and (d) a director of InspireHub, Inc. By virtue of his relationships, Mr. Furst may be deemed to have beneficial ownership of the shares held by each of JAJO Partners, LP, FMAB Partners, LP, Oak Stream Investors III, Ltd, DLF Family Trust and InspireHub, Inc.

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(8)Consists of (a) 128,205 shares of Class B common stock held of record and 259,259 shares underlying options to purchase shares of Class B common stock that are exercisable within 60 days of September 30, 2025, and (b) 483,761 shares of Class B common stock held by Patrick Gelsinger 2020 Trust G Dated October 26, 2020, 96,080 shares of Class B common stock held by Patrick P. Gelsinger Revocable Trust (UAD 11/7/2000), and 116,178 shares of Class B common stock held by Patrick & Linda Gelsinger Trust UAD 07/29/2017. Mr. Gelsinger is the trustee of Patrick Gelsinger 2020 Trust G Dated October 26, 2020, Patrick P. Gelsinger Revocable Trust (UAD 11/7/2000) and Patrick & Linda Gelsinger Trust UAD 07/29/2017. By virtue of his relationships, Mr. Gelsinger may be deemed to have beneficial ownership of the shares held by each of Patrick Gelsinger 2020 Trust G Dated October 26, 2020, Patrick P. Gelsinger Revocable Trust (UAD 11/7/2000) and Patrick & Linda Gelsinger Trust UAD 07/29/2017.

(9)Consists of 55,555 shares of Class B common stock held of record by HL American Investments LLC. Mr. Green is the assistant vice president of investments of HL American Investments LLC and may be deemed to have beneficial ownership of the shares held of record by HL American Investments LLC.

(10)Consists of 20,833 shares underlying options to purchase shares of Class B common stock that are exercisable within 60 days of September 30, 2025 held of record by Generous Life, LLC and 20,833 shares underlying options to purchase shares of Class B common stock that are exercisable within 60 days of September 30, 2025 held of record by YouVersion, Inc. Mr. Gruenewald is the sole member and manager of Generous Life LLC and may be deemed to have beneficial ownership of the shares underlying the options held of record by Generous Life, LLC. Mr. Gruenewald is the president, chief executive officer and a board member of YouVersion, Inc. and may be deemed to have beneficial ownership of the shares underlying the options held of record by YouVersion, Inc.

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**DESCRIPTION OF CAPITAL STOCK**

The following description summarizes certain important terms of our capital stock, as they are expected to be in effect upon the closing of this offering. We will adopt an amended and restated certificate of incorporation and amended and restated bylaws that will be in effect upon the closing of this offering, and this description summarizes the material terms of our capital stock as set out more particularly in such documents. Because it is only a summary, it does not contain all the information that may be important to you. For a complete description of the matters set forth in this section titled "Description of Capital Stock," you should refer to our certificate of incorporation and bylaws, which are included as exhibits to the registration statement of which this prospectus forms a part, and to the applicable provisions of Delaware law.

**General**

Upon the closing of this offering, our authorized capital stock will consist of 5,200,000,000 shares of capital stock, $0.001 par value per share, of which:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•5,000,000,000 shares are designated as Class A common stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•100,000,000 shares are designated as Class B common stock; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•100,000,000 shares are designated as preferred stock.

As of July 31, 2025, after giving effect to the filing of our amended and restated certificate of incorporation, the Corporate Reorganization and the Notes Conversion, there were no shares of our Class A common stock outstanding, 63,682,999 shares of our Class B common stock outstanding held by 214 stockholders of record and no shares of our preferred stock outstanding.

**Common Stock**

Our authorized shares of common stock are designated as Class A common stock and Class B common stock. The rights of the holders of our Class A common stock and Class B common stock are identical, except with respect to voting and conversion.

***Dividend Rights***

Subject to preferences that may apply to any shares of preferred stock outstanding at the time, the holders of our common stock are entitled to receive dividends out of funds legally available if our board of directors, in its discretion, determines to issue dividends and then only at the times and in the amounts that our board of directors may determine. See the section titled "Dividend Policy" for more information.

***No Preemptive or Similar Rights***

Our common stock is not entitled to preemptive rights, and is not subject to redemption or sinking fund provisions. Our Class A common stock is not subject to conversion provisions.

***Voting Rights***

Holders of our Class A common stock are entitled to one vote per share held as of the applicable record date on all matters submitted to a vote of the holders of our Class A common stock, and holders of our Class B common stock are entitled to ten votes per share held as of the applicable record date on all matters submitted to a vote of the holders of our Class B common stock. The holders of our Class A common stock and Class B common stock will generally vote together as a single class on all matters submitted to a vote of our stockholders, unless otherwise required by Delaware law or our certificate of incorporation. Delaware law could require either holders of our Class A common stock or Class B common stock to vote separately as a single class if we were to seek to amend our

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certificate of incorporation in a manner that alters or changes the powers, preferences or special rights of such class of common stock in a manner that affected such shares adversely but does not so affect the shares of the other class of common stock.

Our stockholders do not have the ability to cumulate votes for the election of directors. As a result, the holders of a plurality of the voting power of the shares present in person or represented by proxy at the meeting and entitled to vote on the election of directors can elect all of the directors standing for election, if they should so choose. With respect to matters other than the election of directors, at any meeting of the stockholders at which a quorum is present or represented, the affirmative vote of a majority of the voting power of the shares present in person or represented by proxy at such meeting and entitled to vote on the subject matter shall be the act of the stockholders, except as otherwise provided by law, our governing documents or the rules of the stock exchange on which our securities are listed. The holders of a majority of the voting power of the capital stock issued and outstanding and entitled to vote as of the applicable record date, present in person or represented by proxy, shall constitute a quorum for the transaction of business at all meetings of the stockholders.

Our certificate of incorporation and bylaws will provide for a classified board of directors consisting of three classes of approximately equal size, each serving staggered three-year terms. Only the directors in one class will be elected at each annual meeting of our stockholders, with the directors in the other classes continuing for the remainder of their respective three-year terms.

***Liquidation Rights***

If we become subject to a liquidation, dissolution or winding-up, the assets legally available for distribution to our stockholders would be distributable ratably among the holders of our common stock and any participating preferred stock outstanding at that time, subject to prior satisfaction of all outstanding debt and liabilities and the preferential rights of and the payment of liquidation preferences, if any, on any outstanding shares of preferred stock.

***Fully Paid and Nonassessable***

In connection with this offering, our legal counsel will opine that the shares of our Class A common stock to be issued in this offering will be fully paid and non-assessable.

***Conversion***

The outstanding shares of Class B common stock are convertible at any time as follows: (1) at the option of the holder, a share of Class B common stock may be converted at any time into one share of Class A common stock; and (2) upon the election of the holders of two-thirds of the then outstanding shares of Class B common stock, all outstanding shares of Class B common stock may be converted into shares of Class A common stock. In addition, each share of Class B common stock will convert automatically into one share of Class A common stock upon any transfer, whether or not for value, except for certain transfers described in our amended and restated certificate of incorporation, including transfers to (1) family members, trusts and estate planning vehicles for the benefit of the stockholder or their family members, (2) partnerships, corporations and other entities controlled by the stockholder, their family members or such stockholder's permitted transferees, (3) if the stockholder is an entity, to any natural person with voting control over the shares held by such entity as of the later of 11:59 p.m. eastern time on the date of the closing of this offering or at such time as we first issue the shares to such entity or, if such natural person is also a holder of Class B common stock as of such time, to such natural person's permitted transferees, and (4) charitable organizations that are exempt from taxation under section 501(c)(3) of the Code (or any successor provision thereto), provided that such transfer does not involve any payment of cash, securities, property or other consideration. Once converted or transferred and converted into Class A common stock, the Class B common stock will not be reissued.

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**Preferred Stock**

Our board of directors will have the authority, subject to limitations prescribed by Delaware law, to issue shares of authorized but unissued preferred stock in one or more series, and to fix the designations, powers, preferences and rights, and the qualifications, limitations or restrictions thereof, in each case without further vote or action by our stockholders. These powers, rights, preferences and privileges could include dividend rights, dividend rate, conversion rights, voting rights, rights and terms of redemption (including sinking fund provisions), redemption price(s) and liquidation preferences, and the number of shares constituting any series or the designation of such series, any or all of which may be greater than the rights of the common stock. The issuance of preferred stock could adversely affect the voting power of holders of common stock and the likelihood that such holders will receive dividend payments and payments upon liquidation. In addition, the issuance of preferred stock could have the effect of delaying, deferring or preventing a change in our control or other corporate action. As of the closing of this offering, no shares of preferred stock will be outstanding.

**Options**

As of July 31, 2025, and after giving effect to the Corporate Reorganization, we had outstanding options to purchase an aggregate of 4,756,392 shares of our Class B common stock, with a weighted-average exercise price of $13.83 per share, which does not take into account the Option Repricing, under the 2014 Plan.

**Warrants**

As of July 31, 2025, and after giving effect to the Corporate Reorganization, we had outstanding warrants to purchase an aggregate of 199,999 shares of our Class B common stock, with a weighted-average exercise price of $18.00 per share.

**Anti-Takeover Effects of Certain Provisions of Delaware Law, Our Certificate of Incorporation and Our Bylaws**

Certain provisions of Delaware law, our certificate of incorporation and our bylaws, which are summarized below, may have the effect of delaying, deferring or discouraging another person from acquiring control of us. They are also designed, in part, to encourage persons seeking to acquire control of us to negotiate first with our board of directors. We believe that the benefits of increased protection of our potential ability to negotiate with an unfriendly or unsolicited acquirer outweigh the disadvantages of discouraging a proposal to acquire us because negotiation of these proposals could result in an improvement of their terms.

***Delaware Law***

We will be governed by the provisions of Section 203 of the DGCL. Section 203 generally prohibits a publicly held Delaware corporation from engaging in a "business combination" with any "interested stockholder" for a period of three years after the date of the transaction in which the person became an interested stockholder, unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the business combination or transaction which resulted in the stockholder becoming an interested stockholder was approved by the board of directors prior to the time that the stockholder became an interested stockholder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the number of shares outstanding (1) shares owned by persons who are directors and also officers and (2) shares owned by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•on or subsequent to the date of the transaction, the business combination is approved by the board and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least two-thirds of the outstanding voting stock which is not owned by the interested stockholder.

Section 203 defines a business combination to include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•mergers or consolidations involving the corporation, or any direct or indirect majority-owned subsidiary of the corporation, and the interested stockholder or any other entity if the merger or consolidation is caused by the interested stockholder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•any sale, transfer, pledge or other disposition involving the interested stockholder of 10% or more of the assets of the corporation or any direct or indirect majority-owned subsidiary of the corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•subject to exceptions, any transaction that results in the issuance or transfer by the corporation, or any direct or indirect majority-owned subsidiary of the corporation, of any stock of the corporation or such subsidiary to the interested stockholder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•any transaction involving the corporation, or any direct or indirect majority-owned subsidiary of the corporation, that has the effect of increasing the proportionate share of the stock or any class or series of the corporation or such subsidiary beneficially owned by the interested stockholder; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation.

These provisions may have the effect of delaying, deferring or preventing changes in control of our company.

***Certificate of Incorporation and Bylaws Provisions***

Our certificate of incorporation and bylaws will include a number of provisions that could deter hostile takeovers or delay or prevent changes in control of our board of directors or management. Among other things, our certificate of incorporation and bylaws will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•provide for a dual class common stock structure, with differing voting rights;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•permit our board of directors to issue shares of preferred stock, with any powers, rights, preferences and privileges as they may designate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•provide that the authorized number of directors may be changed only by resolution of the board of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•divide our board of directors into three classes, each of which stands for election once every three years;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•for so long as our board of directors is classified, and subject to the rights of holders of our preferred stock, provide that a director may only be removed from the board of directors by the stockholders for cause;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•require that any action to be taken by our stockholders must be effected at a duly called annual or special meeting of stockholders and not be taken by written consent, provided that at any time that a holder of shares of Class B common stock has voting control over at least a majority of the voting power of our outstanding shares of capital stock, any action required or permitted to be taken by our stockholders may be taken by written consent in accordance with the DGCL as long as our board of directors has first recommended or approved such action or our board of directors and secretary have been provided with at least 30 days' prior written notice of such action;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•provide that stockholders seeking to present proposals before a meeting of stockholders or to nominate candidates for election as directors at a meeting of stockholders must provide notice in writing in a timely manner, and also meet specific requirements as to the form and content of a stockholder's notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•not provide for cumulative voting rights (therefore allowing the holders of a plurality of the shares of common stock entitled to vote in any election of directors to elect all of the directors standing for election, if they should so choose); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•provide that special meetings of our stockholders may be called only by our board of directors, the chairperson of our board of directors, our chief executive officer or president, or a holder of shares of Class B common stock that has voting control over at least a majority of the voting power of our outstanding shares of capital stock.

**Exclusive Forum**

**Transfer Agent and Registrar**

Upon the completion of this offering, the transfer agent and registrar for our common stock will be Fidelity Stock Transfer Solutions LLC. The transfer agent and registrar's address is 245 Summer Street, Boston, MA 02210.

**Listing**

We have applied to list our Class A common stock on the Nasdaq Global Select Market under the symbol "GLOO."

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**SHARES ELIGIBLE FOR FUTURE SALE**

Prior to this offering, there has been no public market for our Class A common stock, and we cannot predict the effect, if any, that market sales of shares of our Class A common stock or the availability of shares of our Class A common stock for sale will have on the market price of our Class A common stock prevailing from time to time. Future sales of shares of our Class A common stock in the public market, or the availability of such shares for sale in the public market, could adversely affect market prices of our Class A common stock prevailing from time to time. As described below, only a limited number of shares of our Class A common stock will be available for sale shortly after this offering due to contractual and legal restrictions on resale. Nevertheless, sales of our Class A common stock in the public market after such restrictions lapse, or the perception that those sales may occur, could adversely affect the prevailing market price at such time and our ability to raise equity capital in the future.

Upon the completion of this offering, based on our shares of our capital stock outstanding as of July 31, 2025 and after giving effect to the Corporate Reorganization and the Notes Conversion, we will have a total of 9,100,000 shares of our Class A common stock outstanding and 63,682,999 shares of our Class B common stock outstanding. Of these outstanding shares, all shares of our Class A common stock sold in this offering will be freely tradable, except for shares purchased in the directed share program, and except that any shares purchased in this offering by our "affiliates," as that term is defined in Rule 144 under the Securities Act, would only be able to be sold in compliance with the Rule 144 limitations described below.

The remaining outstanding shares of our Class A common stock (including shares issuable upon conversion of our Class B common stock) will be, and shares subject to stock options will be upon issuance, deemed "restricted securities" as that term is defined under Rule 144. Restricted securities may be sold in the public market only if their offer and sale is registered under the Securities Act or if the offer and sale of those securities qualify for an exemption from registration, including exemptions provided by Rules 144 and 701 under the Securities Act, which are summarized below. As a result of the lock-up agreements described below and subject to the provisions of Rules 144 or 701, shares of our Class A common stock will be available for sale in the public market as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•beginning on the date of this prospectus, all shares of our Class A common stock sold in this offering, except the shares sold pursuant to the directed share program, will be immediately available for sale in the public market; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•beginning 181 days after the date of this prospectus, subject to the terms of the lock-up agreements described below, all remaining shares will become eligible for sale in the public market, of which 29,968,789 shares will be held by affiliates and subject to the volume and other restrictions of Rule 144, as described below.

**Lock-Up Agreements**

We, our directors and executive officers and certain holders of our equity securities have agreed or will agree, subject to certain exceptions, not to, directly or indirectly, sell, offer to sell, contract to sell, or grant any option for the sale (including any short sale), grant any security interest in, pledge, hypothecate, hedge, establish an open "put equivalent position" (within the meaning of Rule 16a-1(h) under the Exchange Act), or otherwise dispose of, or enter into any transaction which is designed to or could be expected to result in the disposition of, any shares of our Class A common stock or securities convertible into or exchangeable for shares of our Class A common stock, or publicly announce any intention to do any of the foregoing, any shares of our common stock or securities convertible into or exchangeable or exercisable for our common stock for 180 days after the date of this prospectus without first obtaining the written consent of Roth Capital Partners, as representative of the several underwriters of this offering. Roth Capital Partners may, in its sole discretion, and subject to FINRA Rule 5131, release any of the securities subject to the lock-up agreements with the underwriters at any time. These agreements are described below under the section of this prospectus titled "Underwriting."

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**Rule 144**

In general, under Rule 144 as currently in effect, once we have been subject to the public company reporting requirements of Section 13 or Section 15(d) of the Exchange Act for at least 90 days, a person who is not deemed to have been one of our affiliates for purposes of the Securities Act at any time during the 90 days preceding a sale and who has beneficially owned the shares of our Class A common stock proposed to be sold for at least six months is entitled to sell those shares without complying with the manner of sale, volume limitation or notice provisions of Rule 144, subject to compliance with the public information requirements of Rule 144. If such a person has beneficially owned the shares proposed to be sold for at least one year, including the holding period of any prior owner other than our affiliates, then that person would be entitled to sell those shares without complying with any of the requirements of Rule 144.

In general, under Rule 144, as currently in effect, our affiliates or persons selling shares of our Class A common stock on behalf of our affiliates are entitled to sell upon expiration of the lock-up agreements described above, within any three-month period, a number of shares that does not exceed the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•1% of the number of shares of our Class A common stock then outstanding, which will equal approximately 91,000 shares immediately after this offering; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the average weekly trading volume of our Class A common stock during the four calendar weeks preceding the date of filing of a notice on Form 144 with respect to the sale.

Sales under Rule 144 by our affiliates or persons selling shares of our Class A common stock on behalf of our affiliates are also subject to certain manner of sale provisions and notice requirements and to the availability of current public information about us.

**Rule 701**

In general, under Rule 701 a person who purchased shares of our capital stock pursuant to a written compensatory plan or contract and who is not deemed to have been one of our affiliates during the immediately preceding 90 days may sell these shares in reliance upon Rule 144, but without being required to comply with the notice, manner of sale or public information requirements or volume limitation provisions of Rule 144. Rule 701 also permits affiliates to sell their Rule 701 shares under Rule 144 without complying with the holding period requirements of Rule 144. All holders of Rule 701 shares, however, are required to wait until 90 days after the effective date of this prospectus before selling such shares pursuant to Rule 701.

**Registration Statement on Form S-8**

We intend to file a registration statement on Form S-8 under the Securities Act promptly after the completion of this offering to register shares of our common stock subject to options outstanding, as well as reserved for future issuance, under our equity compensation plans. The registration statement on Form S-8 is expected to become effective immediately upon filing, and shares covered by the registration statement will then become eligible for sale in the public market, subject to the Rule 144 limitations applicable to affiliates, vesting restrictions and any applicable lock-up agreements. See the section titled "Executive Compensation—Employee Benefit and Stock Plans" for a description of our equity compensation plans.

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**MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS FOR**

**NON-U.S. HOLDERS OF OUR CLASS A COMMON STOCK**

The following is a summary of material U.S. federal income tax considerations of the ownership and disposition of our Class A common stock acquired in this offering by a "non-U.S. holder" (as defined below) but does not purport to be a complete analysis of all the potential tax considerations relating thereto. This summary is based on the provisions of the Code, Treasury Regulations promulgated thereunder and administrative rulings and judicial decisions, all as of the date hereof. These authorities may be changed, possibly retroactively, so as to result in U.S. federal income tax considerations different from those set forth below. We have not sought, and do not intend to seek, any ruling from the Internal Revenue Service, or the IRS, with respect to the statements made and the conclusions reached in the following summary, and there can be no assurance that the IRS or a court will agree with such statements and conclusions.

This summary also does not address the tax considerations arising under the laws of any U.S. state or local or non-U.S. jurisdiction or under U.S. federal gift and estate tax rules, or the effect, if any, of the Medicare contribution tax on net investment income. In addition, this discussion does not address tax considerations applicable to an investor's particular circumstances or to investors that may be subject to special tax rules, including, without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•banks, insurance companies, regulated investment companies, real estate investment trusts or other financial institutions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•persons subject to the alternative minimum tax;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•tax-exempt organizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•pension plans and tax-qualified retirement plans;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•controlled foreign corporations, passive foreign investment companies and corporations that accumulate earnings to avoid U.S. federal income tax;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•entities or arrangements classified as partnerships for U.S. federal income tax purposes or other pass through entities (or investors in such entities or arrangements);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•brokers or dealers in securities or currencies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•traders in securities that elect to use a mark-to-market method of tax accounting for their securities holdings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•persons who own, or are deemed to own, more than five percent of our capital stock (except to the extent specifically set forth below);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•certain former citizens or long-term residents of the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•persons who hold our Class A common stock as a position in a hedging transaction, "straddle," "conversion transaction," or other risk reduction transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•persons who hold or receive our Class A common stock pursuant to the exercise of any option;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•persons who do not hold our Class A common stock as a capital asset within the meaning of Section 1221 of the Code (generally, property held for investment);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•persons deemed to sell our Class A common stock under the constructive sale provisions of the Code; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•persons subject to special tax accounting rules as a result of any item of gross income with respect to our Class A common stock being taken into account in an "applicable financial statement" as defined in Section 451(b) of the Code.

In addition, if a partnership (or other entity or arrangement classified as a partnership for U.S. federal income tax purposes) holds our Class A common stock, the tax treatment of a partner in the partnership generally will depend on the status of the partner and upon the activities of the partnership. A partner in a partnership that will hold our Class A common stock should consult his, her or its own tax advisor regarding the tax considerations of the purchase, ownership and disposition of our Class A common stock through a partnership.

You are urged to consult your tax advisor with respect to the application of the U.S. federal income tax laws to your particular situation, as well as any tax considerations of the purchase, ownership and disposition of our Class A common stock arising under the U.S. federal gift or estate tax rules or under the laws of any U.S. state or local, non-U.S. or other taxing jurisdiction or under any applicable tax treaty.

**Non-U.S. Holder Defined**

For purposes of this discussion, you are a "non-U.S. holder" if you are a beneficial owner of our Class A common stock that, for U.S. federal income tax purposes, is neither a partnership nor:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•an individual who is a citizen or resident of the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•a corporation or other entity taxable as a corporation created or organized in or under the laws of the United States, any state thereof or the District of Columbia;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•an estate whose income is subject to U.S. federal income tax regardless of its source; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•a trust (x) whose administration is subject to the primary supervision of a U.S. court and that has one or more U.S. persons who have the authority to control all substantial decisions of the trust or (y) that has made a valid election under applicable Treasury Regulations to be treated as a U.S. person.

**Distributions**

As described in the section titled "Dividend Policy," we have never declared or paid cash dividends on our capital stock, and we do not anticipate paying any dividends on our Class A common stock following the completion of this offering. However, if we do make distributions on our Class A common stock, those payments will constitute dividends for U.S. federal income tax purposes to the extent paid from our current or accumulated earnings and profits, as determined under U.S. federal income tax principles. To the extent those distributions exceed both our current and our accumulated earnings and profits, the excess will constitute a return of capital and will first reduce your basis in our Class A common stock, but not below zero, and then will be treated as gain from the sale of stock as described below under "—Gain on Disposition of Class A Common Stock."

Subject to the discussions below regarding effectively connected income, backup withholding and Foreign Account Tax Compliance Act, or FATCA, withholding, any dividend paid to you generally will be subject to U.S. federal withholding tax either at a rate of 30% of the gross amount of the dividend or such lower rate as may be specified by an applicable income tax treaty between the United States and your country of residence. In order to receive a reduced treaty rate, you must provide us or the applicable paying agent with an IRS Form W-8BEN or W-8BEN-E or other appropriate version of IRS Form W-8 certifying qualification for the reduced rate. Under applicable Treasury Regulations, we may withhold up to 30% of the gross amount of the entire distribution even if the amount constituting a dividend, as described above, is less than the gross amount.

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You may obtain a refund of any excess amounts withheld by filing an appropriate claim for refund with the IRS. If you hold our Class A common stock through a financial institution or other agent acting on your behalf, you will be required to provide appropriate documentation to the agent, which then will be required to provide certification to us or our paying agent, either directly or through other intermediaries.

Dividends received by you that are treated as effectively connected with your conduct of a U.S. trade or business (and, if required by an applicable income tax treaty, that are attributable to a permanent establishment or fixed base maintained by you in the United States) are generally exempt from the 30% U.S. federal withholding tax, subject to the discussions below regarding backup withholding and FATCA withholding. In order to obtain this exemption, you must provide us with a properly executed IRS Form W-8ECI or other applicable IRS Form W-8 properly certifying such exemption. Such effectively connected dividends, although not subject to U.S. federal withholding tax, generally are taxed at the U.S. federal income tax rates applicable to U.S. persons, net of certain deductions and credits. In addition, if you are a corporate non-U.S. holder, dividends you receive that are effectively connected with your conduct of a U.S. trade or business may also be subject to a branch profits tax at a rate of 30% or such lower rate as may be specified by an applicable income tax treaty between the United States and your country of residence. You should consult your tax advisor regarding the tax consequences of the ownership and disposition of our Class A common stock, including the application of any applicable tax treaties that may provide for different rules.

**Gain on Disposition of Class A Common Stock**

Subject to the discussions below regarding backup withholding and FATCA withholding, you generally will not be required to pay U.S. federal income tax on any gain realized upon the sale or other disposition of our Class A common stock unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the gain is effectively connected with your conduct of a U.S. trade or business (and, if an applicable income tax treaty so provides, the gain is attributable to a permanent establishment or fixed base maintained by you in the United States);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•you are an individual who is present in the United States for a period or periods aggregating 183 days or more during the calendar year in which the sale or disposition occurs and certain other conditions are met; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our Class A common stock constitutes a United States real property interest by reason of our status as a "United States real property holding corporation," or a USRPHC, for U.S. federal income tax purposes at any time within the shorter of the five-year period preceding your disposition of, or your holding period for, our Class A common stock.

We believe that we are not currently and will not become a USRPHC for U.S. federal income tax purposes, and the remainder of this discussion so assumes. However, because the determination of whether we are a USRPHC depends on the fair market value of our U.S. real property interests relative to the fair market value of our U.S. and worldwide real property interests plus our other assets used or held for use in a trade or business, there can be no assurance that we will not become a USRPHC in the future. Even if we become a USRPHC, however, as long as our Class A common stock is regularly traded on an established securities market, your Class A common stock will be treated as U.S. real property interests only if you actually (directly or indirectly) or constructively hold more than five percent of our regularly traded common stock at any time during the shorter of the five-year period preceding your disposition of, or your holding period for, our Class A common stock.

If you are a non-U.S. holder described in the first bullet above, you generally will be required to pay tax on the gain derived from the sale (net of certain deductions and credits) under U.S. federal income tax rates applicable to U.S. persons, and a corporate non-U.S. holder described in the first bullet above also may be subject to the branch profits tax at a 30% rate, or such lower rate as may be specified by an applicable income tax treaty. If you are an individual non-U.S. holder described in the second bullet above, you will be subject to tax at 30% (or such lower rate specified by an applicable income tax treaty) on the gain derived from the sale, which gain may be offset by U.S. source capital losses for the year, provided you have timely filed U.S. federal income tax returns with respect to such losses. You should consult your tax advisor regarding any applicable income tax or other treaties that may provide for different rules.

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**Backup Withholding and Information Reporting**

Generally, we must report annually to the IRS the amount of dividends paid to you, your name and address and the amount of tax withheld, if any. A similar report will be sent to you. Pursuant to applicable income tax treaties or other agreements, the IRS may make these reports available to tax authorities in your country of residence.

Payments of dividends on or of proceeds from the disposition of our Class A common stock made to you may be subject to backup withholding at the applicable statutory rate unless you establish an exemption, for example, by properly certifying your non-U.S. status on a properly completed IRS Form W-8BEN or W-8BEN-E or another appropriate version of IRS Form W-8. Notwithstanding the foregoing, backup withholding and information reporting may apply if either we or our paying agent has actual knowledge, or reason to know, that you are a U.S. person.

Backup withholding is not an additional tax; rather, the U.S. federal income tax liability of persons subject to backup withholding will be reduced by the amount of tax withheld. If withholding results in an overpayment of taxes, a refund or credit may generally be obtained from the IRS, provided that the required information is furnished to the IRS in a timely manner.

**Additional Withholding Requirements under the Foreign Account Tax Compliance Act**

FATCA, including sections 1471 through 1474 of the Code and the Treasury Regulations and other official IRS guidance issued thereunder, generally imposes a U.S. federal withholding tax of 30% on dividends on, and the gross proceeds from a sale or other disposition of, our Class A common stock, paid to a "foreign financial institution" (as specially defined under these rules), unless such institution enters into an agreement with the U.S. government to, among other things, withhold on certain payments and to collect and provide to the U.S. tax authorities substantial information regarding the U.S. account holders of such institution (which includes certain equity and debt holders of such institution, as well as certain account holders that are non-U.S. entities with U.S. owners) or otherwise establishes an exemption. FATCA also generally imposes a U.S. federal withholding tax of 30% on dividends on, and the gross proceeds from a sale or other disposition of, our Class A common stock paid to a "non-financial foreign entity" (as specially defined under these rules) unless such entity provides the withholding agent with a certification identifying the substantial direct and indirect U.S. owners of the entity, certifies that it does not have any substantial U.S. owners, or otherwise establishes an exemption.

The withholding obligations under FATCA generally apply to dividends on our Class A common stock and to the payment of gross proceeds of a sale or other disposition of our Class A common stock. However, the U.S. Treasury Department has issued proposed regulations that, if finalized in their present form, would eliminate FATCA withholding on gross proceeds of the sale or other disposition of our Class A common stock (but not on payments of dividends). The preamble of such proposed regulations states that they may be relied upon by taxpayers until final regulations are issued or until such proposed regulations are rescinded. The withholding tax will apply regardless of whether the payment otherwise would be exempt from withholding tax, including under the exemptions described above. Under certain circumstances, you might be eligible for refunds or credits of such taxes. An intergovernmental agreement between the United States and your country of residence may modify the requirements described in this section. You should consult with your own tax advisors regarding the application of FATCA withholding to your investment in, and ownership and disposition of, our Class A common stock.

**The preceding discussion of U.S. federal income tax considerations is for general information only. It is not tax advice to investors in their particular circumstances. You should consult your own tax advisor regarding the particular U.S. federal, state and local and non-U.S. tax considerations of purchasing, owning and disposing of our Class A common stock, including the consequences of any proposed change in applicable laws.**

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**UNDERWRITING**

We have entered into an underwriting agreement with the several underwriters listed in the table below, with Roth Capital Partners, LLC acting as the "representative". Subject to the terms and conditions of the underwriting agreement, we have agreed to sell to the underwriters, and the underwriters have agreed to purchase from us, shares of our Class A common stock. Our Class A common stock will trade on the Nasdaq Global Select Market under the symbol "GLOO."

Pursuant to the terms and subject to the conditions contained in the underwriting agreement, we have agreed to sell to the underwriters named below, and each underwriter severally has agreed to purchase from us, the respective number of shares of Class A common stock set forth opposite its name below:

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| | | |
|:---|:---|:---|
| **Underwriter** | **Number<br>of Shares** | **Number<br>of Shares** |
| Roth Capital Partners, LLC |  |  |
| The Benchmark Company, LLC |  |  |
| Craig-Hallum Capital Group, LLC |  |  |
| Lake Street Capital Markets, LLC |  |  |
| Loop Capital Markets LLC |  |  |
| TCBI Securities, Inc., doing business as Texas Capital Securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total** | 9100000 | (1) |

---

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(1)Does not include an additional 2,093,000 shares of our Class A common stock that we have registered with the SEC, which may be issued and sold if the number of shares included in this offering is increased, including a corresponding increase in the underwriters' option to purchase additional shares.

The underwriting agreement provides that the obligation of the underwriters to purchase the shares of Class A common stock offered by this prospectus is subject to certain conditions. The underwriters are obligated to purchase all of the shares of Class A common stock offered hereby if any of the shares are purchased.

We have granted the underwriters an option to purchase up to an additional 1,365,000 shares of Class A common stock from us at the public offering price, less the underwriting discounts and commissions, to cover over-allotments, if any. The underwriters may exercise this option at any time, in whole or in part, during the 30-day period after the date of this prospectus; however, the underwriters may only exercise the option once.

**Discounts, Commissions and Expenses**

The underwriters propose to offer the shares of Class A common stock purchased pursuant to the underwriting agreement to the public at the public offering price set forth on the cover page of this prospectus and to certain dealers at that price less a concession not in excess of per share. After this offering, the public offering price and concession may be changed by the underwriters. No such change shall change the amount of proceeds to be received by us as set forth on the cover page of this prospectus.

In connection with the sale of the Class A common stock to be purchased by the underwriters, the underwriters will be deemed to have received compensation in the form of underwriting commissions and discounts. The underwriters' commissions and discounts will be % of the gross proceeds of this offering, or $ per share of the Class A common stock, based on the public offering price per share set forth on the cover page of this prospectus.

We have also agreed to reimburse Roth Capital Partners for certain out-of-pocket expenses up to $100,000, for legal expenses incurred in connection with blue sky filings and registration and review of the offering by FINRA up to $25,000, and for legal expenses incurred by it in connection with the offering up to a maximum of $400,000.

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The following table shows the underwriting discounts and commissions payable to the underwriters by us in connection with this offering (assuming both the exercise and non-exercise of the over-allotment option to purchase additional shares of Class A common stock we have granted to the underwriters):

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Per Share** | **Per Share** | **Total** | **Total** |
|  | **Without<br>Over-<br>allotment** | **With<br>Over-<br>allotment** | **Without<br>Over-<br>allotment** | **With<br>Over-<br>allotment** |
| Public offering price |  |  |  |  |
| Underwriting discounts and commissions paid by us |  |  |  |  |

---

**Indemnification** 

Pursuant to the underwriting agreement, we have agreed to indemnify the underwriters against certain liabilities, including liabilities under the Securities Act, or to contribute to payments that the underwriters or such other indemnified parties may be required to make in respect of those liabilities.

**Lock-Up Agreements**

We have agreed not to (1) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend or otherwise transfer or dispose of, directly or indirectly, any shares of our capital stock (2) publicly file any registration statement with the SEC relating to the offering of any shares of our capital stock or any securities convertible into or exercisable or exchangeable for shares of our capital stock, except for registration statements on Form S-8, (3) complete any offering of our debt securities, other than entering into a line of credit with a traditional bank or (4) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of our capital stock, without the prior written consent of Roth Capital Partners, LLC for a period of 180 days following the date of this prospectus (the Lock-up Period). This consent may be given at any time without public notice. These restrictions on future issuances are subject to certain exceptions, including for (1) the issuance of shares of our Class A common stock sold in this offering or the issuance, transfer, cancellation or exchange of our securities or the securities of any of our subsidiaries in connection with the Corporate Reorganization, (2) the issuance of shares of our Class A common stock upon the exercise of outstanding options or warrants, the vesting of restricted stock awards or units and the conversion of outstanding convertible securities (including the Senior Secured Convertible Notes and Class B common stock), (3) the issuance of shares of our Class A common stock (whether upon the exercise of stock options or otherwise) to our employees, officers, directors, advisors or consultants pursuant to our equity incentive plans, and (4) the issuance of equity securities in connection with bona fide mergers, acquisitions of securities, businesses, property or other assets, products or technologies, joint ventures, commercial relationships or other strategic transactions, provided that the aggregate number of shares of Class A common stock or convertible securities that we may sell or issue in connection therewith may not exceed 10% of the total number of shares of Class A common stock and Class B common stock together issued and outstanding, determined on a fully-diluted basis, immediately following this offering, and provided further that any recipients sign a lock-up agreement on the same terms as our directors, officers and stockholders.

In addition, our directors and executive officers and certain holders of our equity securities have agreed or will agree to enter into a lock-up agreement with the underwriters. Under the lock-up agreements, the directors, executive officers, and certain holders of our equity securities may not, subject to certain exceptions, directly or indirectly, sell, offer to sell, contract to sell, or grant any option for the sale (including any short sale), grant any security interest in, pledge, hypothecate, hedge, establish an open "put equivalent position" (within the meaning of Rule 16a-1(h) under the Exchange Act), or otherwise dispose of, or enter into any transaction which is designed to or could be expected to result in the disposition of, any shares of our Class A common stock or securities convertible into or exchangeable for shares of our Class A common stock, or publicly announce any intention to do any of the foregoing, without the prior written consent of Roth Capital Partners, LLC, for a period of 180 days from the closing date of this offering. This consent may be given at any time without public notice.

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**Directed Share Program**

At our request, the underwriters have reserved up to 5% of the shares of Class A common stock offered by this prospectus for sale at the initial public offering price through a directed share program available to our directors, officers, employees and their friends and family members and other persons and parties who do business with us. The sales will be administered by Fidelity. We do not know if these parties will choose to purchase all or any portion of these reserved shares, but any purchases they do make will reduce the number of shares available to the general public. Any reserved shares that are not so purchased will be offered by the underwriters to the general public on the same terms as the other shares of Class A common stock offered by this prospectus. Other than the underwriting discount described on the front cover of this prospectus, the underwriters will not be entitled to any commission with respect to shares of Class A common stock sold pursuant to the directed share program.

**Sales to Retail Investors**

In addition to allocations made to retail investors by the underwriters and through our directed share program discussed above, we anticipate that a portion of our Class A common stock offered hereby will, at our request, be offered to retail investors through Fidelity Retail and Robinhood, via their respective online brokerage platforms. Fidelity Retail and Robinhood will act as selling group members for this offering. These platforms are not affiliated with us. Purchases through these platforms will be subject to the terms, conditions, and requirements set by such platforms. Any purchase of shares of Class A common stock in this offering through these platforms will initially be offered at the offering price listed on the cover page of this prospectus. Information contained on, or that can be accessed through, such brokerage platforms does not constitute part of this prospectus. **<br>Electronic Distribution**

This prospectus may be made available in electronic format on websites or through other online services maintained by the underwriters or by their affiliates. In those cases, prospective investors may view offering terms online and prospective investors may be allowed to place orders online. Other than this prospectus in electronic format, the information on the underwriters' websites or our website and any information contained in any other websites maintained by the underwriters or by us is not part of this prospectus or the registration statement of which this prospectus forms a part, has not been approved and/or endorsed by us or the underwriter in its capacity as underwriter, and should not be relied upon by investors.

**Price Stabilization, Short Positions and Penalty Bids**

In connection with the offering the underwriters may engage in stabilizing transactions, over-allotment transactions, syndicate covering transactions and penalty bids in accordance with Regulation M under the Exchange Act:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Stabilizing transactions permit bids to purchase the underlying security so long as the stabilizing bids do not exceed a specified maximum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Over-allotment involves sales by the underwriters of shares in excess of the number of shares the underwriters are obligated to purchase, which creates a syndicate short position. The short position may be either a covered short position or a naked short position. In a covered short position, the number of shares over-allotted by the underwriters is not greater than the number of shares that they may purchase in the over-allotment option. In a naked short position, the number of shares involved is greater than the number of shares in the over-allotment option. The underwriters may close out any covered short position by either exercising their over-allotment option and/or purchasing shares in the open market.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Syndicate covering transactions involve purchases of the Class A common stock in the open market after the distribution has been completed in order to cover syndicate short positions. In determining the source of shares to close out the short position, the underwriters will consider, among other things, the price of shares available for purchase in the open market as compared to the price at which they may purchase shares through the over-allotment option. A naked short position occurs if the underwriters sell more shares than could be covered by the over-allotment option. This position can only be closed out by buying shares in the open market. A naked short position is more likely to be created if the underwriters are concerned that there could be downward pressure on the price of the shares in the open market after pricing that could adversely affect investors who purchase in the offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Penalty bids permit the underwriters to reclaim a selling concession from a syndicate member when the Class A common stock originally sold by the syndicate member is purchased in a stabilizing or syndicate covering transaction to cover syndicate short positions.

These stabilizing transactions, syndicate covering transactions and penalty bids may have the effect of raising or maintaining the market price of our Class A common stock or preventing or retarding a decline in the market price of the Class A common stock. As a result, the price of our Class A common stock may be higher than the price that might otherwise exist in the open market. These transactions may be discontinued at any time

Neither we nor the underwriters make any representation or prediction as to the direction or magnitude of any effect that the transactions described above may have on the price of our shares of Class A common stock. In addition, neither we nor the underwriters make any representation that the underwriter will engage in these transactions or that any transaction, if commenced, will not be discontinued without notice.

**Offer Restrictions Outside the United States**

Other than in the United States, no action has been taken by us or the underwriter that would permit a public offering of the securities offered by this prospectus in any jurisdiction where action for that purpose is required. The securities offered by this prospectus may not be offered or sold, directly or indirectly, nor may this prospectus or any other offering material or advertisements in connection with the offer and sale of any such securities be distributed or published in any jurisdiction, except under circumstances that will result in compliance with the applicable rules and regulations of that jurisdiction. Persons into whose possession this prospectus comes are advised to inform themselves about and to observe any restrictions relating to this offering and the distribution of this prospectus. This prospectus does not constitute an offer to sell or a solicitation of an offer to buy any securities offered by this prospectus in any jurisdiction in which such an offer or a solicitation is unlawful.

**Australia**

This prospectus is not a disclosure document under Chapter 6D of the Australian Corporations Act, has not been lodged with the Australian Securities and Investments Commission and does not purport to include the information required of a disclosure document under Chapter 6D of the Australian Corporations Act. Accordingly, (1) the offer of the securities under this prospectus is only made to persons to whom it is lawful to offer the securities without disclosure under Chapter 6D of the Australian Corporations Act under one or more exemptions set out in section 708 of the Australian Corporations Act, (2) this prospectus is made available in Australia only to those persons as set forth in clause (1) above, and (3) the offeree must be sent a notice stating in substance that by accepting this offer, the offeree represents that the offeree is such a person as set forth in clause (1) above, and, unless permitted under the Australian Corporations Act, agrees not to sell or offer for sale within Australia any of the securities sold to the offeree within 12 months after its transfer to the offeree under this prospectus.

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**Canada**

The securities may be sold in Canada only to purchasers purchasing, or deemed to be purchasing, as principal that are accredited investors, as defined in National Instrument 45-106 Prospectus Exemptions or subsection 73.3(1) of the Securities Act (Ontario), and are permitted clients, as defined in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. Any resale of the securities must be made in accordance with an exemption from, or in a transaction not subject to, the prospectus requirements of applicable securities laws. Securities legislation in certain provinces or territories of Canada may provide a purchaser with remedies for rescission or damages if this prospectus (including any amendment thereto) contains a misrepresentation, provided that the remedies for rescission or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province or territory. The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province or territory for particulars of these rights or consult with a legal advisor. Pursuant to section 3A.3 of National Instrument 33-105 Underwriting Conflicts (NI 33-105), the underwriter is not required to comply with the disclosure requirements of NI33-105 regarding underwriter conflicts of interest in connection with this offering.

**China**

The information in this document does not constitute a public offer of the securities, whether by way of sale or subscription, in the People's Republic of China (excluding, for purposes of this paragraph, Hong Kong Special Administrative Region, Macau Special Administrative Region and Taiwan). The securities may not be offered or sold directly or indirectly in the PRC to legal or natural persons other than directly to "qualified domestic institutional investors."

**European Economic Area — Belgium, Germany, Luxembourg and Netherlands**

The information in this document has been prepared on the basis that all offers of securities will be made pursuant to an exemption under the Directive 2003/71/EC, or Prospectus Directive, as implemented in Member States of the European Economic Area, each a Relevant Member State, from the requirement to produce a prospectus for offers of securities.

An offer to the public of securities has not been made, and may not be made, in a Relevant Member State except pursuant to one of the following exemptions under the Prospectus Directive as implemented in that Relevant Member State:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•to legal entities that are authorized or regulated to operate in the financial markets or, if not so authorized or regulated, whose corporate purpose is solely to invest in securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•to any legal entity that has two or more of (1) an average of at least 250 employees during its last fiscal year; (2) a total balance sheet of more than €43,000,000 (as shown on its last annual unconsolidated or consolidated financial statements); and (3) an annual net turnover of more than €50,000,000 (as shown on its last annual unconsolidated or consolidated financial statements);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•to fewer than 100 natural or legal persons (other than qualified investors within the meaning of Article 2(1)(e) of the Prospectus Directive) subject to obtaining our prior consent or any underwriter for any such offer; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•in any other circumstances falling within Article 3(2) of the Prospectus Directive, provided that no such offer of securities shall require us to publish a prospectus pursuant to Article 3 of the Prospectus Directive.

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**France**

This document is not being distributed in the context of a public offering of financial securities (offre au public de titres financiers) in France within the meaning of Article L.411-1 of the French Monetary and Financial Code (Code monétaire et financier) and Articles 211-1 et seq. of the General Regulation of the French Autorité des marchés financiers, or AMF. The securities have not been offered or sold and will not be offered or sold, directly or indirectly, to the public in France.

This document and any other offering material relating to the securities have not been, and will not be, submitted to the AMF for approval in France and, accordingly, may not be distributed or caused to distributed, directly or indirectly, to the public in France.

Such offers, sales and distributions have been and shall only be made in France to (1) qualified investors (investisseurs qualifiés) acting for their own account, as defined in and in accordance with Articles L.411-2-II-2 and D.411-1 to D.411-3, D. 744-1, D.754-1 and D.764-1 of the French Monetary and Financial Code and any implementing regulation and/or (2) a restricted number of non-qualified investors (cercle restreint d'investisseurs) acting for their own account, as defined in and in accordance with Articles L.411-2-II-2° and D.411-4, D.744-1, D.754-1 and D.764-1 of the French Monetary and Financial Code and any implementing regulation.

Pursuant to Article 211-3 of the General Regulation of the AMF, investors in France are informed that the securities cannot be distributed (directly or indirectly) to the public by the investors otherwise than in accordance with Articles L.411-1, L.411-2, L.412-1 and L.621-8 to L.621-8-3 of the French Monetary and Financial Code.

**Ireland**

The information in this document does not constitute a prospectus under any Irish laws or regulations and this document has not been filed with or approved by any Irish regulatory authority as the information has not been prepared in the context of a public offering of securities in Ireland within the meaning of the Irish Prospectus (Directive 2003/71/EC) Regulations 2005 (the Prospectus Regulations). The securities have not been offered or sold, and will not be offered, sold or delivered directly or indirectly in Ireland by way of a public offering, except to (1) qualified investors as defined in Regulation 2(l) of the Prospectus Regulations and (2) fewer than 100 natural or legal persons who are not qualified investors.

**Israel**

The securities offered by this prospectus have not been approved or disapproved by the Israeli Securities Authority (the ISA), or ISA, nor have such securities been registered for sale in Israel. The shares may not be offered or sold, directly or indirectly, to the public in Israel, absent the publication of a prospectus. The ISA has not issued permits, approvals or licenses in connection with this offering or publishing the prospectus; nor has it authenticated the details included herein, confirmed their reliability or completeness, or rendered an opinion as to the quality of the securities being offered. Any resale in Israel, directly or indirectly, to the public of the securities offered by this prospectus is subject to restrictions on transferability and must be effected only in compliance with the Israeli securities laws and regulations.

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**Italy**

The offering of the securities in the Republic of Italy has not been authorized by the Italian Securities and Exchange Commission (Commissione Nazionale per le Società e la Borsa, "CONSOB" pursuant to the Italian securities legislation and, accordingly, no offering material relating to the securities may be distributed in Italy and such securities may not be offered or sold in Italy in a public offer within the meaning of Article 1.1(t) of Legislative Decree No. 58 of 24 February 1998, or Decree No. 58, other than:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•to Italian qualified investors, as defined in Article 100 of Decree no. 58 by reference to Article 34-ter of CONSOB Regulation no. 11971 of 14 May 1999, or Regulation no. 1197l as amended, or Qualified Investors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•in other circumstances that are exempt from the rules on public offer pursuant to Article 100 of Decree No. 58 and Article 34-ter of Regulation No. 11971 as amended.

Any offer, sale or delivery of the securities or distribution of any offer document relating to the securities in Italy (excluding placements where a Qualified Investor solicits an offer from the issuer) under the paragraphs above must be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•made by investment firms, banks or financial intermediaries permitted to conduct such activities in Italy in accordance with Legislative Decree No. 385 of 1 September 1993 (as amended), Decree No. 58, CONSOB Regulation No. 16190 of 29 October 2007 and any other applicable laws; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•in compliance with all relevant Italian securities, tax and exchange controls and any other applicable laws.

Any subsequent distribution of the securities in Italy must be made in compliance with the public offer and prospectus requirement rules provided under Decree No. 58 and the Regulation No. 11971 as amended, unless an exception from those rules applies. Failure to comply with such rules may result in the sale of such securities being declared null and void and in the liability of the entity transferring the securities for any damages suffered by the investors.

**Japan**

The securities have not been and will not be registered under Article 4, paragraph 1 of the Financial Instruments and Exchange Law of Japan (Law No. 25 of 1948), as amended (the FIEL) pursuant to an exemption from the registration requirements applicable to a private placement of securities to Qualified Institutional Investors (as defined in and in accordance with Article 2, paragraph 3 of the FIEL and the regulations promulgated thereunder). Accordingly, the securities may not be offered or sold, directly or indirectly, in Japan or to, or for the benefit of, any resident of Japan other than Qualified Institutional Investors. Any Qualified Institutional Investor who acquires securities may not resell them to any person in Japan that is not a Qualified Institutional Investor, and acquisition by any such person of securities is conditional upon the execution of an agreement to that effect.

**New Zealand**

The shares of Class A common stock offered hereby have not been offered or sold, and will not be offered or sold, directly or indirectly in New Zealand and no offering materials or advertisements have been or will be distributed in relation to any offer of shares in New Zealand, in each case other than:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•to persons whose principal business is the investment of money or who, in the course of and for the purposes of their business, habitually invest money;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•to persons who in all the circumstances can properly be regarded as having been selected otherwise than as members of the public;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•to persons who are each required to pay a minimum subscription price of at least NZ$500,000 for the shares before the allotment of those shares (disregarding any amounts payable, or paid, out of money lent by the issuer or any associated person of the issuer); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•in other circumstances where there is no contravention of the Securities Act 1978 of New Zealand (or any statutory modification or reenactment of, or statutory substitution for, the Securities Act 1978 of New Zealand).

**Portugal**

This document is not being distributed in the context of a public offer of financial securities (oferta pública de valores mobiliários) in Portugal, within the meaning of Article 109 of the Portuguese Securities Code (Código dos Valores Mobiliários). The securities have not been offered or sold and will not be offered or sold, directly or indirectly, to the public in Portugal. This document and any other offering material relating to the securities have not been, and will not be, submitted to the Portuguese Securities Market Commission (Comissăo do Mercado de Valores Mobiliários) for approval in Portugal and, accordingly, may not be distributed or caused to distributed, directly or indirectly, to the public in Portugal, other than under circumstances that are deemed not to qualify as a public offer under the Portuguese Securities Code. Such offers, sales and distributions of securities in Portugal are limited to persons who are "qualified investors" (as defined in the Portuguese Securities Code). Only such investors may receive this document and they may not distribute it or the information contained in it to any other person.

**Sweden**

This document has not been, and will not be, registered with or approved by Finansinspektionen (the Swedish Financial Supervisory Authority). Accordingly, this document may not be made available, nor may the securities be offered for sale in Sweden, other than under circumstances that are deemed not to require a prospectus under the Swedish Financial Instruments Trading Act (1991:980) (Sw. lag (1991:980) om handel med finansiella instrument). Any offering of securities in Sweden is limited to persons who are "qualified investors" (as defined in the Financial Instruments Trading Act). Only such investors may receive this document and they may not distribute it or the information contained in it to any other person.

**Switzerland**

The securities may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange, or SIX, or on any other stock exchange or regulated trading facility in Switzerland. This document has been prepared without regard to the disclosure standards for issuance prospectuses under art. 652a or art. 1156 of the Swiss Code of Obligations or the disclosure standards for listing prospectuses under art. 27 ff. of the SIX Listing Rules or the listing rules of any other stock exchange or regulated trading facility in Switzerland. Neither this document nor any other offering material relating to the securities may be publicly distributed or otherwise made publicly available in Switzerland.

Neither this document nor any other offering material relating to the securities have been or will be filed with or approved by any Swiss regulatory authority. In particular, this document will not be filed with, and the offer of securities will not be supervised by, the Swiss Financial Market Supervisory Authority (FINMA).

This document is personal to the recipient only and not for general circulation in Switzerland.

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**United Arab Emirates**

Neither this document nor the securities have been approved, disapproved or passed on in any way by the Central Bank of the United Arab Emirates or any other governmental authority in the United Arab Emirates, nor have we received authorization or licensing from the Central Bank of the United Arab Emirates or any other governmental authority in the United Arab Emirates to market or sell the securities within the United Arab Emirates. This document does not constitute and may not be used for the purpose of an offer or invitation. We may not render services relating to the securities within the United Arab Emirates, including the receipt of applications and/or the allotment or redemption of such shares.

No offer or invitation to subscribe for securities is valid or permitted in the Dubai International Financial Centre.

**United Kingdom**

Neither the information in this document nor any other document relating to the offer has been delivered for approval to the Financial Services Authority in the United Kingdom and no prospectus (within the meaning of section 85 of the Financial Services and Markets Act 2000, as amended, or FSMA) has been published or is intended to be published in respect of the securities. This document is issued on a confidential basis to "qualified investors" (within the meaning of section 86(7) of FSMA) in the United Kingdom, and the securities may not be offered or sold in the United Kingdom by means of this document, any accompanying letter or any other document, except in circumstances which do not require the publication of a prospectus pursuant to section 86(1) FSMA. This document should not be distributed, published or reproduced, in whole or in part, nor may its contents be disclosed by recipients to any other person in the United Kingdom.

Any invitation or inducement to engage in investment activity (within the meaning of section 21 of FSMA) received in connection with the issue or sale of the securities has only been communicated or caused to be communicated and will only be communicated or caused to be communicated in the United Kingdom in circumstances in which section 21(1) of FSMA does not apply us.

In the United Kingdom, this document is being distributed only to, and is directed at, persons (1) who have professional experience in matters relating to investments falling within Article 19(5) (investment professionals) of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005, or FPO, (2) who fall within the categories of persons referred to in Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the FPO or (3) to whom it may otherwise be lawfully communicated (together, relevant persons). The investments to which this document relates are available only to, and any invitation, offer or agreement to purchase will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

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**LEGAL MATTERS**

Wilson Sonsini Goodrich & Rosati, Professional Corporation, Boulder, Colorado, which has acted as our counsel in connection with this offering, will pass upon the validity of the shares of our Class A common stock being offered by this prospectus. Reed Smith LLP, Houston, Texas, is acting as counsel for the underwriters.

**EXPERTS**

The consolidated financial statements of Gloo Holdings, LLC as of January 31, 2025 and 2024, and for the years then ended included in this prospectus have been so incorporated in reliance on the report of Crowe LLP, independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

The consolidated financial statements of Midwestern Interactive, LLC as of December 31, 2024 and for the year then ended included in this prospectus have been so incorporated in reliance on the report of Crowe LLP, independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

**CHANGES IN INDEPENDENT PUBLIC ACCOUNTING FIRM**

On October 1, 2024, we dismissed Plante & Moran, PLLC as our independent auditors. The decision to change our independent auditors was approved by the board of managers of Gloo Holdings, LLC.

The audit report of Plante & Moran, PLLC on our financial statements as of and for the fiscal years ended January 31, 2024 and 2023, respectively, conducted in accordance with the auditing standards generally accepted in the United States of America, did not contain an adverse opinion or a disclaimer of opinion, and was not qualified or modified as to uncertainty, audit scope or accounting principle, except that there was an explanatory paragraph describing conditions that raised substantial doubt about our ability to continue as a going concern in Plante & Moran, PLLC's audit opinion dated September 30, 2024. Plante & Moran, PLLC did not audit our consolidated financial statements for any period subsequent to January 31, 2024.

During the two most recent fiscal years ended January 31, 2024 and 2023 and the subsequent interim period through November 21, 2024, we had no disagreements with Plante & Moran, PLLC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to its satisfaction, would have caused Plante & Moran, PLLC to make reference in connection with its report to the subject matter of the disagreement during the audit preceding its dismissal. A material weakness in internal controls was identified as follows: controls around revenue recognition were not appropriately in place to identify a material misstatement in revenue, specifically as it relates to evaluating a contract with a customer for the transaction price and constraint on variable consideration.

We have provided Plante & Moran, PLLC with a copy of the foregoing disclosures and requested that Plante & Moran, PLLC furnish us with a letter addressed to the SEC stating whether Plante & Moran, PLLC agrees with the above statements and, if not, stating the respects in which it does not agree. A copy of that letter is filed as Exhibit 16.1 to the registration statement of which this prospectus forms a part.

On November 22, 2024, we engaged Crowe LLP as our independent registered public accounting firm to re-audit the financial statements as of and for the fiscal years ended January 31, 2024 and 2023.

During the two most recent fiscal years ended January 31, 2024 and 2023 and the subsequent interim period through November 21, 2024, neither we, nor anyone acting on our behalf, consulted with Crowe LLP on matters that involved the application of accounting principles to a specified transaction, either completed or proposed, the type of audit opinion that might be rendered on our financial statements or any of the matters described in Item 304(a)(2)(i) or (ii) of Regulation S-K.

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**WHERE YOU CAN FIND ADDITIONAL INFORMATION**

We have filed with the SEC a registration statement on Form S-1 under the Securities Act with respect to the shares of our Class A common stock offered by this prospectus. This prospectus constitutes only a part of the registration statement. Some items are contained in exhibits to the registration statement as permitted by the rules and regulations of the SEC. For further information with respect to us and our Class A common stock, we refer you to the registration statement, including the exhibits and schedules filed as a part of the registration statement. Statements contained in this prospectus concerning the contents of any contract or document referred to are not necessarily complete. If a contract or document has been filed as an exhibit to the registration statement, please see the copy of the contract or document that has been filed. Each statement in this prospectus relating to a contract or document filed as an exhibit is qualified in all respects by the filed exhibit. The SEC also maintains an Internet website at *www.sec.gov* that contains reports, proxy and information statements and other information about issuers, like us, that file electronically with the SEC.

Immediately upon the effectiveness of the registration statement of which this prospectus forms a part, we will become subject to the information and reporting requirements of the Exchange Act and, in accordance with this law, will file periodic reports, proxy statements and other information with the SEC. We also maintain a website at *www.gloo.com*. Upon the effectiveness of the registration statement of which this prospectus forms a part, you may access these materials free of charge as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC. Information contained on our website is not a part of or incorporated by reference into this prospectus and the inclusion of our website address in this prospectus is an inactive textual reference only.

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**INDEX TO CONSOLIDATED FINANCIAL STATEMENTS**

**Gloo Holdings, LLC**

Audited Consolidated Financial Statements as of and for the Years Ended January 31, 2024, and 2025

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| | |
|:---|:---|
|  | **Page** |
| [<u>Report of Independent Registered Public Accounting Firm</u>](#report_of_independent) (PCAOB ID 173) | F-2 |
| [<u>Consolidated Balance Sheets</u>](#consolidated_balance_sheets) | F-3 |
| [<u>Consolidated Statements of Operations</u>](#consolidated_statements_of_operations) | F-4 |
| [<u>Consolidated Statements of Mezzanine Equity and Members' Deficit</u>](#consolidated_statements_of_mezzanine) | F-5 |
| [<u>Consolidated Statements of Cash Flows</u>](#consolidated_statements_of_cash_flows) | F-6 |
| [<u>Notes to the Consolidated Financial Statements</u>](#notes_to_the_consolidated_financial) | F-7 |

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Consolidated Financial Statements as of and for the Six Months Ended July 31, 2024 and 2025

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| | |
|:---|:---|
|  | **Page** |
| [<u>Consolidated Balance Sheets</u>](#glo_condensed_consolidated_balance_sheet) | F-57 |
| [<u>Consolidated Statements of Operations</u>](#glo_statements_of_operations) | F-58 |
| [<u>Consolidated Statements of Comprehensive Earnings (Loss)</u>](#condensed_statements_loss_h1) | F-59 |
| [<u>Consolidated Statements of Mezzanine Equity and Members' Deficit</u>](#glo_consolidated_statements_equity) | F-60 |
| [<u>Consolidated Statements of Cash Flows</u>](#glo_statements_of_cash_flows) | F-61 |
| [<u>Notes to the Consolidated Financial Statements</u>](#glo_notes_consolidated_financial_stmts) | F-62 |

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**Midwestern Interactive, LLC**

Consolidated Financial Statements for the Year Ended December 31, 2024

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| | |
|:---|:---|
|  | **Page** |
| [<u>Independent Auditor's Report</u>](#independent_auditors_report) | F-102 |
| [<u>Balance Sheet</u>](#balance_sheet_mwi) | F-104 |
| [<u>Statement of Operations and Member</u>](#statement_of_opes_and_member_capital)[<u>'s</u>](#statement_of_opes_and_member_capital)[<u>Capital</u>](#statement_of_opes_and_member_capital) | F-105 |
| [<u>Statement of Cash Flows</u>](#statement_of_cash_flows_mwi) | F-106 |
| [<u>Notes to the Financial Statements</u>](#notes_to_financial_statements_mwi) | F-107 |

---

Consolidated Financial Statements for the Three Months Ended March 31, 2025

---

| | |
|:---|:---|
|  | **Page** |
| [<u>Balance Sheet</u>](#mwi_q1_balance_sheet) | F-115 |
| [<u>Statement of Operations and Member</u>](#mwi_q1_statement_operations_members_cap)[<u>s</u>](#mwi_q1_statement_operations_members_cap)'[<u>Capital</u>](#mwi_q1_statement_operations_members_cap) | F-116 |
| [<u>Statement of Cash Flows</u>](#mwi_q1_statement_of_cash_flows) | F-117 |
| [<u>Notes to the Financial Statement</u>](#mwi_q1_notes_to_financial_statements) | F-118 |

---

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[**<u>**Table of Contents**</u>**](#toc_page)

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Members and the Board of Managers of Gloo Holdings, LLC

Boulder, Colorado

Opinion on the Financial Statements

We have audited the accompanying consolidated balance sheets of Gloo Holdings, LLC (the "Company") as of January 31, 2025 and 2024, the related consolidated statements of operations, mezzanine equity and members' deficit, and cash flows for each of the two years in the period ended January 31, 2025, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of January 31, 2025 and 2024, and the results of its operations and its cash flows for each of the two years in the period ended January 31, 2025, in conformity with accounting principles generally accepted in the United States of America.

Explanatory Paragraph – Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company has suffered recurring operating losses, negative cash flows, has limited liquid resources, and is dependent on external financing, which raise substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis for Opinion

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the 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 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 financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Crowe LLP

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

Los Angeles, California

July 23, 2025

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**Gloo Hol** **dings, LLC**

# Consolidated Balance Sheets

---

| | | |
|:---|:---|:---|
|  | **As of January 31,** | **As of January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| **ASSETS** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $13477 | $13592 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restricted cash | 250 | 252 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net of allowance for credit losses of $75 and $68, respectively <sup>(1)</sup> | 441 | 623 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventory, net | 1500 | 1460 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 1402 | 2388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 17070 | 18315 |
| Property and equipment, net | 2385 | 2303 |
| Capitalized software, net | 7814 | 23578 |
| ROU operating lease asset <sup>(2)</sup> | 4612 | 3835 |
| Long-term investments | 2114 | 33252 |
| Other non-current assets | 157 | 209 |
| Intangible assets, net | 11230 | 11431 |
| Goodwill | 42705 | 27901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $88087 | $120824 |
| **LIABILITIES, MEZZANINE EQUITY, AND MEMBERS' DEFICIT** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable <sup>(3)</sup> | $2937 | $3613 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued compensation | 4391 | 4538 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | 2121 | 3521 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition-related liabilities, current | 2440 | 1350 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | 2154 | 3725 |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt, current | 1195 | 3177 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease liabilities, current <sup>(4)</sup> | 530 | 685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 15768 | 20609 |
| Acquisition-related liabilities, non-current | 465 | 100 |
| Debt, non-current <sup>(5)</sup> | 143 | 66959 |
| Lease liabilities, non-current <sup>(6)</sup> | 3734 | 3095 |
| Deferred income taxes | 2707 | 1911 |
| Other non-current liabilities |  | 14258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | $22817 | $106932 |
| Commitment and Contingencies (See Note 14) |  |  |
| Mezzanine Equity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A Preferred Units (no par value; 108,459,120 and 117,751,845 units<br>&nbsp;&nbsp;&nbsp;&nbsp;authorized as of January 31, 2024, and 2025, respectively; 108,459,120 and<br>&nbsp;&nbsp;&nbsp;&nbsp;112,596,622 units issued and outstanding as of January 31, 2024, and 2025, <br>&nbsp;&nbsp;&nbsp;&nbsp;respectively; and aggregate liquidation preference of $382,579,930 and <br>&nbsp;&nbsp;&nbsp;&nbsp;$432,669,108 as of January 31, 2024, and 2025, respectively) | 332944 | 351887 |
| Members' Deficit: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common member units (no par value; 37,739,574 and 39,651,074 units<br>&nbsp;&nbsp;&nbsp;&nbsp;authorized as of January 31, 2024, and 2025, respectively; and 22,739,574<br>&nbsp;&nbsp;&nbsp;&nbsp;and 24,603,574 units issued and outstanding as of January 31, 2024, and <br>&nbsp;&nbsp;&nbsp;&nbsp;2025, respectively) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 14949 | 23591 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (282623) | (368312) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deficit attributable to common members | (267674) | (344721) |
| Equity attributable to noncontrolling interests |  | 6726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total members' deficit | (267674) | (337995) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities, mezzanine equity, and members' deficit | $88087 | $120824 |

---

------

(1)Includes related party accounts receivable of $17 thousand and $178 thousand as of January 31, 2024 and 2025, respectively.

(2)Includes related party leases of $405 thousand and $205 thousand as of January 31, 2024 and 2025, respectively.

(3)Includes related party accounts payable of $1,230 thousand and $561 thousand as of January 31, 2024 and 2025, respectively.

(4)Includes related party leases of $201 thousand and $205 thousand as of January 31, 2024 and 2025, respectively.

(5)Includes non-current debt from related parties of $— and $56,204 thousand as of January 31, 2024 and 2025, respectively.

(6)Includes related party leases of $205 thousand and $— as of January 31, 2024 and 2025, respectively.

*The accompanying notes are an integral part of these consolidated financial statements.*

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**Gloo Holdings, LLC**

# Consolidated Statements of Operations

---

| | | |
|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands, except unit and per unit data)** | **(in thousands, except unit and per unit data)** |
| Revenue <sup>(8)</sup>: |  |  |
| &nbsp;&nbsp;&nbsp;Platform revenue | $2176 | $22873 |
| &nbsp;&nbsp;&nbsp;Platform solutions revenue | 13325 | 330 |
| &nbsp;&nbsp;&nbsp;Other revenue | 5788 | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 21289 | 23216 |
| Operating expenses: |  |  |
| &nbsp;&nbsp;&nbsp;Cost of revenue (exclusive of depreciation and amortization) | 6471 | 19749 |
| &nbsp;&nbsp;&nbsp;Product development | 17780 | 13551 |
| &nbsp;&nbsp;&nbsp;Sales and marketing | 23560 | 22619 |
| &nbsp;&nbsp;&nbsp;General and administrative | 13300 | 15098 |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization | 4685 | 7714 |
| &nbsp;&nbsp;&nbsp;Impairment of goodwill |  | 27753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 65796 | 106484 |
| Operating loss | (44507) | (83268) |
| Other expense (income): |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | 3796 | 4738 |
| &nbsp;&nbsp;&nbsp;Other expense (income), net | (45) | (687) |
| &nbsp;&nbsp;&nbsp;Loss (gain) from change in fair value of financial instruments |  | (1301) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expense (income), net | 3751 | 2750 |
| Net loss before income taxes | (48258) | (86018) |
| &nbsp;&nbsp;&nbsp;Income tax (expense) benefit | 106 | 796 |
| &nbsp;&nbsp;&nbsp;Income (loss) from equity method investments, net | (161) | (580) |
| Net loss | (48313) | (85802) |
| &nbsp;&nbsp;&nbsp;Less: net income (loss) attributable to noncontrolling interests |  | (113) |
| Net loss attributable to common members | $(48313) | $(85689) |
| Net loss per unit attributable to common members, basic and diluted | $(3.37) | $(4.55) |
| Weighted-average common units used to compute net loss per unit<br> attributable to common members, basic and diluted | 22739574 | 23293429 |

---

------

(8)Includes revenues from related parties of $— and $258 thousand for the years ended January 31, 2024 and 2025, respectively.

*The accompanying notes are an integral part of these consolidated financial statements.*

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**Gloo Holdings, LLC**

# Consolidated Statements of Mezzanine Equity and Members' Deficit

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Series A Preferred Units** | **Series A Preferred Units** | **Common Units** | **Common Units** |  |  | **Total deficit** |  |  |
|  | **Units** | **Amount** | **Units** | **Amount** | **Additional<br>Paid-in<br>Capital** | **Accumulated<br>Deficit** | **attributable<br>to common<br>members'** | **Noncontrolling<br>Interests** | **Total<br>Members'<br>Deficit** |
|  | **(in thousands, except unit data)** | **(in thousands, except unit data)** | **(in thousands, except unit data)** | **(in thousands, except unit data)** | **(in thousands, except unit data)** | **(in thousands, except unit data)** | **(in thousands, except unit data)** | **(in thousands, except unit data)** | **(in thousands, except unit data)** |
| **Balance as of February 1, 2023** | 74547473 | $160066 | 22739574 | $— | $5335 | $(234310) | $(228975) | $— | $(228975) |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of Series A Preferred Units<br> (net of $535,691 issuance costs) | 7540949 | 44710 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Member Advances received, net |  |  |  |  | 14800 |  | 14800 |  | 14800 |
| &nbsp;&nbsp;&nbsp;&nbsp;Conversion of Member Advances to<br> Series A Preferred Units | 3000000 | 18000 |  |  | (18000) |  | (18000) |  | (18000) |
| &nbsp;&nbsp;&nbsp;&nbsp;Conversion of convertible debt to<br> Series A Preferred Units, inclusive<br> of accrued interest | 20037364 | 90168 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of Series A Preferred Units<br> and put option in connection with<br> an acquisition | 3333334 | 20000 |  |  | 11900 |  | 11900 |  | 11900 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity-based compensation |  |  |  |  | 914 |  | 914 |  | 914 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss attributable to common<br> members |  |  |  |  |  | (48313) | (48313) |  | (48313) |
| **Balance as of January 31, 2024** | 108459120 | $332944 | 22739574 | $— | $14949 | $(282623) | $(267674) | $— | $(267674) |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of Series A Preferred Units<br> in connection with acquisitions<br> and investments | 4083334 | 18618 |  |  | 1540 |  | 1540 | 6839 | 8379 |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of common units issued in<br> connection with acquisitions |  |  | 1375000 |  | 3616 |  | 3616 |  | 3616 |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of Series A Preferred Units | 54168 | 325 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Exercise of common unit options |  |  | 489000 |  | 489 |  | 489 |  | 489 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) attributable to<br> noncontrolling interests |  |  |  |  |  |  |  | (113) | (113) |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity-based compensation |  |  |  |  | 2997 |  | 2997 |  | 2997 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss attributable to common<br> members |  |  |  |  |  | (85689) | (85689) |  | (85689) |
| **Balance as of January 31, 2025** | 112596622 | $351887 | 24603574 | $— | $23591 | $(368312) | $(344721) | $6726 | $(337995) |

---

*The accompanying notes are an integral part of these consolidated financial statements.*

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**Gloo Holdings, LLC**

**Consolidated Statements of Cash Flows**

---

| | | |
|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| **Operating activities:** |  |  |
| Net loss | $(48313) | $(85802) |
| Adjustments to reconcile net loss attributable to common members to net cash used in<br> operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity-based compensation expense | 1868 | 3787 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 4685 | 7714 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of deferred financing costs | 162 | 692 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for expected credit losses | 5 | 64 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for inventory write-offs |  | 274 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease expense | 689 | 1179 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | (106) | (796) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss (gain) from change in fair value of financial instruments |  | (1301) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Income) loss from equity method investments, net | 161 | 580 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of debt | 193 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt assumed through PIK interest |  | 1381 |
| &nbsp;&nbsp;&nbsp;&nbsp;Forgiveness of forgivable notes | (5376) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Impairment of goodwill |  | 27753 |
| &nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities, net of acquisitions: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | 286 | (236) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | (578) | (1173) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other non-current assets | (55) | (50) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 874 | (63) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities | 2544 | (904) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | (513) | 1571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other non-current liabilities | 2092 | (804) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net cash used in operating activities** | (41382) | (46134) |
| **Investing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of property and equipment | (450) | (425) |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized internal-use software costs | (4367) | (10169) |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of equity method investments | (444) | (2401) |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisitions, net of cash acquired | (19221) | (1931) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net cash used in investing activities** | (24482) | (14926) |
| **Financing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments on debt | (17) | (230) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from debt | 18180 | 60680 |
| &nbsp;&nbsp;&nbsp;&nbsp;Payment of deferred financing costs |  | (87) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from exercise of common unit options |  | 489 |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from Member Advances received, net | 14800 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from Series A Preferred Units issuance | 45246 | 325 |
| &nbsp;&nbsp;&nbsp;&nbsp;Payment of equity issuance costs | (536) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net cash provided by financing activities** | 77673 | 61177 |
| **Net increase in cash, cash equivalents, and restricted cash** | 11809 | 117 |
| **Cash, cash equivalents, and restricted cash:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Beginning of period** | 1918 | 13727 |
| &nbsp;&nbsp;&nbsp;&nbsp;**End of period** | $13727 | $13844 |
| **Supplemental disclosures of cash flow information:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash paid for interest | $3796 | $3442 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash paid for taxes |  |  |
| **Supplemental disclosure of non-cash investing and financing activity:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Conversion of convertible debt to Series A Preferred Units, inclusive of accrued interest | $90168 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of Series A Preferred Units in connection with acquisitions | 31900 | 4850 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition of equity method investment included in accrued liabilities | 1556 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;ROU assets obtained in acquisitions | 3496 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;ROU assets obtained in exchange for new lease liabilities | 505 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivatives and warrants bifurcated from debt |  | 6685 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition of equity method investment included in debt and equity |  | 20526 |
| &nbsp;&nbsp;&nbsp;&nbsp;Warrant liability issued in connection with equity method investment |  | 8792 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity-based compensation capitalized as part of internal-use software |  | 10545 |

---

*The accompanying notes are an integral part of these consolidated financial statements.*

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# Notes to the Con solidated Financial Statements
**1.** **Nature of Business**

Gloo Holdings, LLC's ("Gloo" or the "Company") mission is to build the leading technology platform for the faith and flourishing ecosystem, which is one of the largest, oldest, and least-digitized ecosystems in the world. Since the Company's founding in 2013, Gloo has provided a breadth of products, services, and solutions to the two primary stakeholders at the core of the faith and flourishing ecosystem: (1) network capability providers ("NCPs") and (2) the churches and frontline organizations ("CFLs") they serve.

The Gloo platform serves as a digital infrastructure between NCPs and CFLs. By facilitating efficient exchange between the two, Gloo enables both sides to succeed; CFLs gain access to better resources and NCPs benefit from efficient distribution and targeted reach. This creates a virtuous cycle, strengthening the platform with each interaction. The Gloo platform includes a suite of technology, marketplace, and service solutions offered directly from Gloo or from Gloo's consolidated subsidiaries and equity method investments ("Gloo Capital Partners").

***Going Concern***

Since inception, the Company has incurred cumulative losses from operations. The Company has funded its operations and capital needs primarily through net proceeds received from the sale of preferred and common units and proceeds from long-term debt. The Company held cash and cash equivalents of $13.6 million and had an accumulated deficit of $368.3 million as of January 31, 2025. Additionally, the Company incurred net losses of $85.8 million and used $46.1 million of cash in operating activities for the year ended January 31, 2025. The Company's plans include generating revenue through subscriptions of its expanding technology and AI offerings, increased marketplace offerings and growing advertising services, as well as seeking external sources of liquidity. If adequate funds are not available, the Company will need to raise additional funds to meet its long-term strategic plans. Management believes it will be able to obtain additional capital to fund its operations, however, there are no assurances that the Company will be able to raise additional capital on terms acceptable to the Company or at all. If the plans are not implemented on a timely basis, management may delay or modify our business plans, potentially including the timing of planned capital expenditures, development and other planned activities, all of which, individually or in the aggregate, could have material negative consequences to the Company and its results of operations and business relationships.

In connection with the preparation of these financial statements, management evaluated conditions and events known and reasonably knowable that could adversely affect the Company's ability to meet its obligations through one year from the date the financial statements are available to be issued. Management's assessment considered the Company's current financial condition, characterized by recurring operating losses, negative cash flows, limited liquid resources, and dependence on external financing, as well as the funds required to execute its business plan over the evaluation period. Based on these factors, the Company has concluded there is substantial doubt about its ability to continue as a going concern for at least twelve months from the date the financial statements are available to be issued.

The consolidated financial statements have been prepared on a basis that assumes the Company will continue as a going concern and do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.

**2.** **Summary of Significant Accounting Policies**

***Basis of Presentation and Principles of Consolidation***

The accompanying consolidated financial statements include the accounts of Gloo Holdings, LLC, its wholly-owned subsidiaries, less-than-wholly-owned subsidiaries in which the Company holds a controlling financial interest, and variable interest entities ("VIEs") for which the Company has determined it is the primary beneficiary. The Company has prepared the consolidated financial statements in accordance with accounting principles generally

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accepted in the United States of America ("U.S. GAAP"), as detailed in the Financial Accounting Standards Board (the "FASB") Accounting Standards Codification ("ASC"), and pursuant to the disclosure rules and regulations of the Securities and Exchange Commission (the "SEC"). The interests of the minority owners in less-than-wholly-owned subsidiaries are accounted for as non-controlling interests. All material intercompany transactions have been eliminated upon consolidation.

Ownership interests in unconsolidated entities for which the Company has significant influence are accounted for using the equity method of accounting.

***Segment Information***

The Company's Chief Executive Officer ("CEO") is its Chief Operating Decision Maker ("CODM"). The Company's CODM reviews the financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. Accordingly, the Company has determined that it operates in a single reportable segment.

***Use of Estimates***

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These judgments, estimates, and assumptions are used for, but not limited to, revenue recognition, including the stand-alone selling prices ("SSP") for each distinct performance obligation; internal-use software development costs; the useful lives of long-lived assets; the net realizable value of inventory; the reserve for expected credit losses; income taxes; equity-based compensation; the valuation of the Company's common units, equity awards and financial instruments; the fair value of assets and noncontrolling interest acquired and liabilities assumed in business combinations; valuation of consideration transferred in business combinations; the fair value of the call option associated with the Midwestern Interactive, LLC ("Midwestern") acquisition; the incremental borrowing rate used to determine operating lease right-of-use assets and lease liabilities, the fair value of derivative and warrant liabilities, and legal and other loss contingencies.

Estimates are based on historical and anticipated results and trends, and on various other assumptions the Company believes are reasonable under the circumstances, including assumptions as to future events. Management evaluates these estimates, judgments and assumptions on an ongoing basis. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates, and any such differences may be material to the Company's consolidated financial statements.

***Business Combinations***

If an acquired set of assets and activities meets the definition of a business, the Company accounts for the transaction using the acquisition method of business combinations from the date of the acquisition in accordance with *ASC Topic 805, Business Combinations ("ASC 805"*). Amounts paid for an acquisition are allocated to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. Several valuation methods may be used to determine the fair value of assets acquired and liabilities assumed. The Company uses its best estimates and assumptions to assign fair value to the tangible and identifiable intangible assets acquired, liabilities assumed, and any noncontrolling interests at the acquisition date. The Company's estimates are inherently uncertain and subject to refinement. The purchase price, which may include cash, equity consideration, and contingent consideration, is allocated based on these fair values. The excess of the consideration transferred over the fair value of the identifiable net assets acquired is recorded as goodwill. During the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the fair value of assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company's consolidated statements of operations.

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If the acquired set of assets and activities does not meet the definition of a business, the Company accounts for the transaction as an asset acquisition in accordance with ASC Subtopic 805-50, *Acquisition of Assets Rather than a Business*.

***Noncontrolling Interests***

The Company accounts for an equity interest in a less-than-wholly owned consolidated subsidiary that is not attributable, either directly or indirectly, to the Company as noncontrolling interest in accordance with *ASC Topic 810, Consolidation ("ASC 810")*.

Noncontrolling interest is recognized as equity in our consolidated balance sheets and presented separately from the equity attributable to common members. Any change in ownership of a less-than-wholly-owned consolidated subsidiary while the controlling financial interest is retained is accounted for as an equity transaction between the controlling and noncontrolling interests. The amounts of consolidated net loss attributable to common members and its noncontrolling interest are separately presented in the consolidated statements of operations. The Company's net loss per unit attributable to common members excludes net losses attributable to noncontrolling interests.

***Cash and Cash Equivalents and Restricted Cash***

The Company considers all highly liquid investments with an original maturity of three months or less when acquired to be cash equivalents. The Company maintains cash and cash equivalent balances in financial institutions that may at times exceed federally-insured limits. The Company has not experienced any losses in such accounts.

Restricted cash consists of funds that are contractually restricted as to usage or withdrawal. The Company defines restricted cash as cash that cannot be withdrawn or used for general operating activities. Restricted cash includes amounts held to collateralize outstanding credit card borrowing facilities and is classified as current or noncurrent assets based on the nature and duration of the restriction. As of January 31, 2024 and 2025, the Company had no non-current restricted cash balances. All restricted cash amounts are expected to be utilized within one year and are therefore classified as current assets.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash as presented in the consolidated balance sheets to the total amount shown in the consolidated statements of cash flows:

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| | | |
|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Cash and cash equivalents | $13477 | $13592 |
| Restricted cash | 250 | 252 |
| &nbsp;&nbsp;Total cash, cash equivalents, and restricted cash | $13727 | $13844 |

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***Prepaid Expenses and Other Current Assets***

Prepaid expenses and other current assets consist primarily of prepaid license fees, sponsorships, escrow, and other expenses paid in advance of being incurred.

***Accounts Receivable, Net of Allowance for Credit Losses***

Accounts receivable are recorded at the invoiced amounts, net of allowance. The beginning balance of accounts receivable as of February 1, 2023 was $0.2 million. The Company maintains an allowance for expected credit losses for amounts it does not expect to collect. In establishing an estimated allowance, the Company considers the financial condition and credit quality of its customers, historical losses, current market conditions, the age of the receivables, and current payment patterns. Account balances are written off against the allowance in the period in which the balance is deemed uncollectible. Subsequent recoveries of previously written off balances are recognized when received. Provisions for expected credit losses are recorded to general and administrative in the consolidated statements of operations.

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Changes in the Company's allowance for credit losses for the years ended January 31, 2024 and 2025, were as follows:

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| | | |
|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Allowance, beginning of period | $70 | $75 |
| Write-offs of uncollectible accounts, net |  | (71) |
| Provision for expected credit losses | 5 | 64 |
| Allowance, end of period | $75 | $68 |

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***Credit Risk and Major Customers***

Sales and services provided in the normal course of business are to customers located predominantly in the United States. The Company extends trade credit to its customers on terms that are generally practiced in the industry.

The following table summarizes the customers that accounted for 10% or more of the Company's revenue and the respective percentages for the years ended January 31, 2024 and 2025:

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| | | |
|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2025** |
| Customer A | \* | 12% |
| Customer B | 63% | \* |
| Customer C | 27% | \* |

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*\* Customer did not represent 10% or more of revenue during the respective period*

The following table sets forth the percentage of accounts receivable, net from the Company's largest customers that exceed 10% of its total accounts receivable, net and contract assets for the years ended January 31, 2024 and 2025:

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| | |
|:---|:---|
|  | **Year Ended January 31,** |
|  | **2025** |
| Customer D<br> \* | 37% |
| Customer E<br> \* | 29% |
| Customer F<br> \* | 16% |
| Customer G<br> \* | 11% |

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*\* Customer did not represent 10% or more of accounts receivable, net during the respective period*

***Inventory, Net***

The Company carries inventory at the lower of cost or net realizable value. Cost is determined using a standard method, which approximates last-in, first-out. On a periodic basis, the Company assesses excess, obsolete, and slow-moving inventory and writes down the cost of inventory to estimated net realizable value, as necessary. A write-down adjustment is measured as the excess of carrying amount over net realizable value. Write-down adjustments are recorded to cost of revenue in the period the provisional loss is identified. Once adjusted, a new, lower cost basis is established, and subsequent recoveries are not permitted under U.S. GAAP. Inventory reserves are determined using a combination of sales and usage trends, and historical obsolescence rates.

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Inventories primarily consist of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Raw materials – includes printing substrates, ink and packaging materials

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Work in process – includes partially manufactured materials

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Finished goods – includes internally manufactured materials such as mailings, postcards, books and third-party purchased products for resale

Inventory or materials not yet received for which title has not transferred, are excluded from inventory.

***Leases***

The Company determines if an arrangement is or contains a lease at inception by evaluating various factors, including if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration and other facts and circumstances in accordance with *ASC Topic 842, Leases ("ASC 842")*. Lease classification is determined at the lease commencement date. The Company's leases are primarily operating leases for office facilities. As of January 31, 2024, and 2025, the Company did not have any finance lease arrangements. Operating leases are included in ROU operating lease asset; lease liabilities, current; and lease liabilities, non-current in the consolidated balance sheets.

Operating lease liabilities are recognized at the lease commencement date based on the present value of the future minimum lease payments over the lease term. Since the Company's leases generally do not have a readily determinable implicit rate, the Company uses its incremental borrowing rate at the commencement date to determine the present value of future minimum lease payments. The incremental borrowing rate is the interest rate the Company would have to pay to borrow, on a collateralized basis, an amount equal to the lease payments for a term similar to the lease term in a similar economic environment where the leased asset is located. The Company's lease terms may include options to extend or terminate the lease when it is reasonably certain the Company will exercise that option. The Company accounts for lease and non-lease components as a single lease component for the Company's operating leases.

The Company measures right-of-use (ROU) assets based on the corresponding lease liabilities adjusted for any initial direct costs and prepaid lease payments made to the lessor before or at the commencement date, net of lease incentives. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Variable lease payments are not included in the calculation of the ROU asset and lease liability and are recognized as lease expense as incurred. The Company's variable lease payments generally relate to payments affected by the Consumer Price Index ("CPI") and payments for maintenance and utilities.

The Company applies the short-term lease recognition exemption for leases with a lease term of twelve months or less, excluding those leases from the balance sheet and recognizing related payments on a straight-line basis over the lease term in operating expenses in the consolidated statements of operations.

***Property and Equipment, Net***

Property and equipment is stated at cost, net of accumulated depreciation and amortization. Assets acquired in business combinations are recorded at their acquisition-date fair value. Activities representing maintenance and repairs are expensed as incurred. Depreciation on property and equipment is measured using the straight-line method over the estimated useful lives of the assets and is included in depreciation and amortization in the consolidated statements of operations. The estimated useful lives of property and equipment are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Computer equipment and software – three years

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Furniture and fixtures – five years

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Leasehold improvements – lesser of estimated useful life or remaining lease term

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Upon disposition, the cost of disposed assets and the related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is recorded in general and administrative in the consolidated statements of operations.

***Goodwill***

The Company accounts for the excess of the purchase price consideration over the fair value of tangible and identifiable intangible assets acquired and liabilities assumed in a business combination as goodwill in accordance with *ASC Topic 350, Intangibles – Goodwill and Other ("ASC 350")*. Goodwill is tested for impairment annually during the fourth quarter, and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. For goodwill, impairment is assessed at the reporting unit level. A reporting unit is defined as an operating segment or a component of an operating segment to the extent discrete financial information is available that is reviewed by segment management.

For an impairment assessment, the Company has the option to first assess qualitative factors to determine whether it is more likely than not that a reporting unit's fair value exceeds its carrying amount. If the Company's qualitative assessment concludes that it is more likely than not that the carrying amount is less than the fair value of the reporting unit, then goodwill is not considered impaired. If the Company's qualitative assessment concludes that it is more likely than not that the fair value exceeds the carrying amount of the reporting unit, then the Company will perform a quantitative test. Goodwill is determined to be impaired when the quantitative assessment indicates that the carrying value exceeds the fair value of the reporting unit. The Company measures an impairment loss as the amount by which the carrying amount exceeds the estimated fair value. Besides goodwill, the Company has no other intangible assets with indefinite lives.

The Company did not record an impairment loss for the year ended January 31, 2024. During the year ended January 31, 2025, the Company impaired goodwill assigned to the Outreach reporting unit. Refer to Note 11, *Goodwill*, for additional information.

***Intangible Assets, Net***

Intangible assets are recorded at their acquisition-date fair value, net of accumulated amortization. Intangible assets primarily consist of customer relationships, developed technology, trademarks and trade names. The Company estimates the useful life of intangible assets by performing an analysis of expected cash flows of the acquired assets. Intangible assets are amortized using the straight-line method over their estimated useful lives.

***Capitalized Software, Net***

In accordance with ASC Subtopic 350-40, *Internal Use Software* ("ASC 350-40"), the Company capitalizes certain costs related to software developed for internal use for which it has no plans to market externally. Internal use software includes the software used for the Company's software-as-a-service ("SaaS") offerings. The Company expenses the costs of developing software until the software has reached the application development stage and capitalizes all costs incurred from that time until the software is ready for its intended use, at which time amortization of the capitalized costs begins. Determination of when the software has reached the application development stage is based upon completion of conceptual designs, evaluation of alternative designs and performance requirements. The Company capitalizes activities that result in major enhancements to internal use software and expenses activities that represent routine maintenance of existing software to product development in the consolidated statements of operations as incurred.

The Company amortizes internal use software using the straight-line method over its estimated useful life of three years. Refer to Note 9. *Capitalized Software, Net*, for additional information.

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***Impairment of Long-Lived Assets***

The Company evaluates the recoverability of its long-lived assets, including property and equipment, capitalized internal-use software, ROU operating lease asset, and intangible assets with definite lives, whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Recoverability of an asset is measured by comparing of its carrying amount to the sum of the future undiscounted future net cash flows that the asset is expected to generate. If the carrying amount is not recoverable, an impairment loss is recorded in the amount by which the carrying amount of the asset exceeds its estimated fair value. Fair value is determined using valuation techniques appropriate under the circumstances, which may include discounted cash flow models, market quotations, or third-party independent appraisals, as necessary.

The Company did not record any impairment losses related to its long-lived assets for the years ended January 31, 2024 and 2025.

***Equity Method Investments***

The Company accounts for investments in the common stock or in-substance common stock of entities that provide the Company with the ability to exercise significant influence, but not a controlling financial interest, using the equity method of accounting in accordance with ASC Topic 323, *Investments - Equity Method and Joint Ventures ("ASC 323")*.

Investments accounted for under the equity method are initially recorded at the amount of the Company's investment and are adjusted each period for the Company's share of the investee's income or loss and dividends paid.

The Company reviews its equity method investments for impairment whenever events or changes in business circumstances indicate that the carrying value of the investment may not be fully recoverable. Qualitative and quantitative factors considered as indicators of a potential impairment include financial results and operating trends of the investees, implied values in transactions of the investee's securities, severity and length of decline in value, and the Company's intention for holding the investment, among other factors. If an impairment is determined to be other than temporary, the fair value of the impaired investment would have to be determined, and an impairment charge recorded for the difference between the fair value and the carrying value of the investment. The fair value determination, particularly for investments in privately held companies, requires significant judgment to determine appropriate estimates and assumptions. Changes in these estimates and assumptions could affect the calculation of the fair value of the investments and the determination of the impairment charges.

***Revenue Recognition***

Revenue is recognized upon transfer of control of promised products and services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services, reduced by estimates for return allowances, and promotional discounts. Revenue also excludes any amounts collected on behalf of third parties, including sales and indirect taxes. The Company determines the amount of revenue to be recognized through application of the following steps:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Identify the contract(s) with a customer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Identify the performance obligations in the contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Determine the transaction price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Allocate the transaction price to the performance obligations in the contract; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Recognize revenue when (or as) the Company satisfies a performance obligation.

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In arrangements in which the Company has multiple performance obligations, the transaction price is allocated to each performance obligation using the relative stand-alone selling price. Management generally determines stand-alone selling prices based on the prices charged to customers in arrangements without multiple performance obligations.

The Company derives its revenue primarily from platform solutions revenue, platform revenue and other revenue. The Company's primary revenue streams were as follows:

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| | | |
|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Subscription revenue | $1386 | $6950 |
| Marketplace revenue | 728 | 14250 |
| Advertising revenue | 62 | 1673 |
| Platform revenue | 2176 | 22873 |
| Platform solutions revenue | 13325 | 330 |
| Other revenue | 5788 | 13 |
| &nbsp;&nbsp;Total revenue | $21289 | $23216 |

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*Subscription Revenue* 

The Company provides customers with access to its cloud-based platforms, including Gloo+, Barna Access Plus, Church Law & Tax, ChurchSalary, and others, under subscription arrangements that do not convey a license or ownership of the software. Subscriptions are typically offered in one- or twelve-month terms and are billed in advance.

Revenue is recognized over the subscription term as the Company satisfies its performance obligation by providing continuous access to the platforms. For certain platforms, customers may cancel and receive a refund for the unused portion of the subscription. Refundable amounts are recorded as customer deposit liabilities until recognized or refunded.

*Marketplace Revenue*

Marketplace revenue primarily consists of physical and digital products such as books, publications, curriculum, marketing collateral and church supplies sold through our online marketplace and the online stores of our consolidated subsidiaries. The timing of revenue recognition within our marketplace is generally point-in-time when our products ship to our customers.

The Company generally assumes the role of supplier and acts as the principal in these transactions and therefore recognizes revenue on a gross basis. At the time of entering into an agreement with the customer, the Company maintains control of the inventory originally purchased from vendors or suppliers and is viewed as the primary obligor to the customer. The Company has discretion in establishing pricing for the products, which is established at the time of signing the agreement, and bears certain risks associated with the products, including inventory risk. In these instances, the customer purchases directly from the Company and looks to the Company as responsible for fulfillment and resolution of any product-related issues.

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*Advertising Revenue* 

Digital advertising services relate to the display of advertising products on the Company's website. The Company offers advertising campaigns for a specified period of time for a fixed fee and recognizes revenue from such offerings over the service period. The Company also offers performance-based advertising placements that are priced on a cost-per-click basis. The Company applies the invoice practical expedient to recognize cost-per-click revenue as it depicts the value transferred to the customer and measure of progress towards completion of its obligations.

*Platform Solutions Revenue*

The Company provided platform solutions primarily in connection with the "He Gets Us" ("HGU") campaign. These services included strategic consulting, marketing execution, technology enablement, call center operations, and other related activities aimed at launching and supporting a comprehensive faith-based media initiative. The fee for the contract is subject to a high degree of variability, as the fees are subject to the successful fundraising efforts of the customer. This variability requires the Company to constrain revenue to the extent that it is probable of significant reversal in the future. As such, revenue is only recognized to the extent that the customer has successfully collected and disbursed applicable funds to the Company.

Customer payments for platform solutions are generally billed over the contractual term. Although certain contracts extended beyond twelve months, the Company performed services consistently over time and concluded that no significant financing component exists. Revenue related to the HGU campaign for the years ended January 31, 2024 and 2025 was $13.3 million and $0.1 million, respectively.

*Other Revenue*

For the year ended January 31, 2024 and 2025, the Company recognized revenue of $5.8 million and $12.8 thousand, respectively from contributions received under a non-reciprocal funding arrangement with nonprofit organizations. Under this arrangement, the Company provided access to its platform subscription services for use by third-party beneficiaries, while receiving funding in the form of forgivable promissory notes or other contributions. These contributions are accounted for as Contribution Revenue in the consolidated statements of operations in accordance with *ASC Topic 958, Not-for-Profit Entities ("ASC 958")*, as the provision of platform subscription services constitutes the Company's primary revenue-generating activity. Revenue is recognized in the period in which the conditions necessary for forgiveness of the promissory notes are substantially met. Refer to Note 15, *Debt* for additional information.

*Disaggregation of Cost of Revenue*

The Company disaggregates cost of revenue based on whether the cost is attributable to services rendered, tangible products, and other indirect costs. The breakdown of cost of revenue (exclusive of depreciation and amortization) is as follows:

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| | | |
|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Subscription revenue costs | $1776 | $5404 |
| Marketplace revenue costs | 957 | 12974 |
| Advertising revenue costs | 106 | 1027 |
| Platform revenue costs | 2839 | 19405 |
| Platform solutions revenue costs | 2035 | 306 |
| Other revenue costs | 1597 | 38 |
| &nbsp;&nbsp;Total cost of revenue (exclusive of depreciation and amortization) | $6471 | $19749 |

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***Product Development***

Product development expenses consist primarily of personnel-related costs for the design and development of the Company's platform, contractor costs to supplement staff levels, third-party web services, consulting services, and allocated overhead. Product development expenses, other than software development costs qualifying for capitalization, are expensed as incurred.

***General and Administrative***

General and administrative expenses consist primarily of personnel-related costs for the Company's executive, finance, legal, human resources, and administrative employees, including salaries, benefits, bonuses, and equity-based compensation. General and administrative expenses may also include non-personnel costs such as legal, accounting, and other professional service fees; other corporate expenses related to employee relations, travel, and software; information technology costs; restructuring charges; and corporate facility costs.

***Advertising***

Advertising costs are expensed as incurred and are included in sales and marketing expenses in the consolidated statements of operations. Advertising costs were approximately $1.2 million and $2.7 million for the years ended January 31, 2024 and 2025, respectively.

***Equity-Based Compensation***

The Company's equity-based compensation awards are classified as either equity-classified or liability-classified awards in accordance with *ASC Topic 718, Stock Compensation ("ASC 718").* The Company generally measures equity-classified awards at the fair value on the grant date using a Black-Scholes option-pricing model, which is dependent upon several variables, including the fair value of a common unit, expected term of the option, expected volatility of a common unit's price, risk-free interest rate, and expected dividend rate. The assumptions used in the Black-Scholes option pricing model were determined as follows:

*Fair Value of Common Units –* Prior to the completion of an initial public offering ("IPO"), the board of directors exercise reasonable judgment and consider numerous and subjective factors to determine the best estimate of the fair value of its outstanding units, including but not limited to the prices of recent issuances of the Company's preferred units, third-party valuations of its outstanding common units, the price paid by the Company to repurchase outstanding units, the prices paid for the Company's outstanding units in secondary market transactions, the Company's performance and market position relative to similar publicly traded companies, the likelihood and timing of achieving a liquidity event, the lack of marketability of the Company's outstanding common units, and U.S. and global capital market conditions.

*Expected Term –* The expected term of options represents the period that the Company's equity-based awards are expected to be outstanding and is calculated using the simplified method. The simplified method deems the term to be the mid-point between the weighted-average vesting period and the contractual life of the option.

*Volatility* – The Company estimates its expected unit volatility based on the historical volatility of a publicly traded set of peer companies and expects to continue to do so until it has adequate historical data regarding the volatility of its common unit price. When considering which companies to include in its comparable industry peer companies, the Company focused on publicly-traded companies with businesses similar to the Company's.

*Risk Free Interest Rates –* These rates are based on the implied yield currently available on U.S. Treasury notes with terms approximately equal to the expected life of the option.

*Expected Dividend Yield –* The Company has not and does not expect to pay cash dividends on its units.

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The Company remeasures liability-classified awards to fair value as of each accounting period end date until settlement or expiration of the award. Any changes to the fair value of liability-classified awards are recorded as equity-based compensation expense in operating expenses in the consolidated statements of operations.

Equity-based compensation expense for awards with a graded vesting schedule and subject only to a service condition is recognized using the straight-line method over the requisite service period. The Company recognizes forfeitures as they occur.

***Income Taxes***

Gloo Holdings, LLC is treated as a partnership for U.S. Federal and most applicable state and local income tax purposes. As a partnership, the Company is not subject to U.S. Federal and certain state and local income taxes. Any taxable income or loss generated by the Company is passed through to and included in the taxable income or loss of its members. On January 2, 2024, the Company acquired 100% of the equity ownership of Outreach, Inc., which is taxed as a C corporation and is subject to Federal and state income taxes and accounts for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases.

In accordance with authoritative guidance on accounting for and disclosure of uncertainty in tax positions, the Company follows a more likely than not measurement methodology to reflect the financial statement impact of uncertain tax positions taken or expected to be taken in a tax return. For tax positions meeting the more-likely-than-not threshold, the tax liability recognized in the consolidated financial statements is reduced by the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant taxing authority. If tax authorities were to disallow any tax positions taken by the Company, the additional income taxes, if any, would be imposed on the members rather than the Company.

No amounts have been accrued for uncertain tax positions as of January 31, 2024, and January 31, 2025. However, management's conclusions regarding uncertain tax positions may be subject to review and adjustment at a later date based on ongoing analyses of tax laws, regulations, and interpretations thereof, and other factors. The Company does not have any unrecognized tax benefits as of January 31, 2024, and January 31, 2025, and does not expect that the total amount of unrecognized tax benefits will materially change over the next six months. Additionally, no interest or penalty related to uncertain taxes has been recognized in the accompanying consolidated financial statements.

The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal, state, and local jurisdictions, where applicable. If such examinations result in changes to income or loss, the tax liability of the Company could be changed accordingly.

***Net Loss Per Unit Attributable to Common Members***

The Company calculates basic and diluted net loss per unit attributable to common members using the two-class method for participating securities in accordance with ASC Topic 260, *Earnings Per Share ("ASC 260")*. The Company considers the Series A preferred units to be participating securities as the holders are entitled to receive a 6% dividend per annum prior to any dividend distributions to common unit holders. The two-class method requires earnings available to common members for the period to be allocated between common unit members and other participating securities based upon their respective rights to receive dividends as if all earnings for the period had been distributed. The Company does not allocate net losses to the holders of the Series A preferred units under the two-class method as those securities do not have a contractual obligation to share in the Company's losses.

Basic net loss per unit attributable to common members is calculated by dividing net loss attributable to common members by the weighted-average number of common units outstanding during the period. Diluted net income (loss) per unit attributable to common members is computed by giving effect to all potentially dilutive securities outstanding for the period. For any period in which the Company reports a net loss, diluted net loss per unit attributable to common members is the same as basic net loss per unit attributable to common members, because the effect of including potentially dilutive securities is anti-dilutive.

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***Derivative Financial Instruments***

The Company does not enter into derivatives for trading or speculative purposes. However, certain debt and equity financing transactions are derivatives in their entirety or include embedded features that are bifurcated and accounted for as embedded derivatives. Refer to Note 15, *Debt* for additional information about derivatives associated with financing transactions.

Derivative assets and liabilities are classified as either current or non-current based on the timing of expected cash flows. The non-current portion of derivative assets and non-current portion of derivative liabilities are included in other non-current assets and other non-current liabilities on the consolidated balance sheets, respectively. The Company applies Level 3 valuation techniques, including discounted cash flow models, to determine fair value due to the significant unobservable inputs. Refer to Note 7, *Fair Value Measurements* for additional information.

***Fair Value Measurement***

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of market price observability used in measuring financial instruments at fair value. This hierarchy requires the Company to use observable market data when available and to minimize the use of unobservable inputs when determining fair value. Financial instruments with readily available quoted prices in active markets generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value.

Financial instruments measured and disclosed at fair value are classified and disclosed based on the observability of inputs used in the determination of fair value as follows:

Level 1: Observable inputs such as quoted prices in active markets.

Level 2: Observable inputs other than Level 1 prices, such as quoted prices in less active markets or model-derived valuations that are observable either directly or indirectly.

Level 3: Unobservable inputs in which there is little or no market data that are significant to the fair value of the assets or liabilities.

In instances whereby inputs used to measure fair value fall into different levels in the above fair value hierarchy, fair value measurements in their entirety are categorized based on the lowest level input that is significant to the valuation. The Company's assessment of the significance of particular inputs to these fair value measurements requires judgment and considers factors specific to each asset or liability.

The carrying amount of the Company's financial instruments, including cash equivalents, restricted cash, trade and other receivables, prepaid expenses and other current assets, accounts payable and accrued liabilities, and accrued and other current liabilities approximate their respective fair values because of their short maturities.

Financial instruments recorded at fair value in the consolidated balance sheets are categorized based upon the fair value hierarchy established by U.S. GAAP, which classifies the inputs used to measure fair value into Level 1, Level 2, or Level 3. A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The methods and assumptions used may produce a fair value that may not be realized in future periods upon settlement. Furthermore, while the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a materially different estimate of fair value at the reporting date. Refer to Note 7, *Fair Value Measurements* for additional information.

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***Variable Interest Entities***

The Company consolidates variable interest entities ("VIEs") in which it holds a variable interest and is the primary beneficiary of the entity. The Company is the primary beneficiary because it has the power to direct the activities that most significantly impact the economic performance of these VIEs and either an obligation to absorb losses of, or a right to receive benefits from, these VIEs that could potentially be significant to the VIE. As a result, the Company consolidates the assets and liabilities of these consolidated VIEs.

The Company continually evaluates whether it qualifies as the primary beneficiary of these VIEs and reconsiders its determination of whether an entity is a VIE upon the occurrence of any reconsideration events. As of January 31, 2025, the total assets and total liabilities of consolidated VIEs included in the Company's consolidated balance sheets was $10.3 million and $1.6 million, respectively.

***Emerging Growth Company***

The Company is an emerging growth company ("EGC") as defined in the Jumpstart Our Business Startups Act of 2012, as amended (the "JOBS Act"). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act, until such time as to those standards apply to private companies. The Company has elected to use the extended transition period under the JOBS Act for the adoption of certain accounting standards until the earlier of the date the Company (1) is no longer an emerging growth company or (2) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, the consolidated financial statements of the Company may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates. The adoption dates are discussed below in the Recently Issued Accounting Pronouncements section.

***Recent Accounting Pronouncements Not Yet Adopted***

In December 2023, the FASB issued ASU 2023-09, *Income Taxes (Topic 740): Improvements to Income Tax Disclosure, requiring enhanced income tax disclosures* ("ASU 2023-09"). This ASU requires disclosure of specific categories and disaggregation of information in the rate reconciliation table. This ASU also requires disclosure of disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit disaggregated between domestic and foreign, and income tax expense or benefit from continuing operations disaggregated between federal, state, and foreign. For public companies, the requirements of this ASU are effective for annual periods beginning after December 15, 2024. Early adoption is permitted and the amendments should be applied on a prospective basis. Retrospective application is permitted. The Company is currently evaluating the impact of the new guidance on the disclosure within its consolidated financial statements.

In March 2024, the FASB issued ASU 2024-01, "*Compensation - Stock Compensation*" which was issued to reduce complexity in determining if profit interest awards are subject to *Topic 718* and to reduce diversity in practice. For public entities, the standard is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. For all other entities, including EGCs, the standard is effective for annual periods beginning after December 15, 2025, and interim periods within those annual periods. The Company has elected to use the extended transition period available to it as an EGC and is currently evaluating the impact of the new guidance on the disclosure within its consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, "*Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures*," which requires disclosure of additional information about specific expense categories underlying certain income statement expense line items. The standard is effective for all entities with annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this accounting standard update on our consolidated financial statements and related disclosures.

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***Recently Adopted Accounting Pronouncements***

In November 2023, the FASB issued ASU 2023-07, *Segment Reporting (Topic 280: Improvements to Reportable Segment Disclosures)* ("ASU 2023-07"). The amendments in this update improve reportable segment disclosure requirements through enhanced disclosures about significant segment expenses. All disclosure requirements of the update are required for entities with a single reportable segment. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and should be applied on a retrospective basis to all periods presented. As of January 31, 2025, the Company only has one reportable segment. The Company adopted this ASU on February 1, 2024. See the section titled "Segment Information" above for additional disclosures.

In October 2021, the FASB issued ASU No. 2021-08, *Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers* ("ASU 2021-08"), which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, as if it had originated the contracts. Under the legacy business combination guidance, such assets and liabilities are recognized by the acquirer at fair value on the acquisition date. The Company adopted the provisions of ASU No. 2021-08 on February 1, 2023, which did not have a material impact on the consolidated financial statements.

On February 1, 2023, the Company adopted Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") No. 2016-13, *Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments* ("ASU 2016-13"). The ASU includes changes to the accounting and measurement of financial assets, including the Company's accounts receivable, by requiring the Company to recognize an allowance for all expected credit losses over the life of the financial asset at origination. This is different from historical practice, where an allowance was not recognized until the losses were considered probable. The Company adopted this standard using the modified retrospective transition method, and there was no significant impact to the consolidated financial statements upon adoption of the ASU.

**3.** **Variable Interest Entities**

***Consolidated VIEs***

*Visitor Reach*

As discussed in Note 4, *Business Combinations*, in January 2025, the Company acquired a majority ownership interest of approximately 51.2% in Visitor Reach with the objective of enhancing digital outreach for churches by combining Visitor Reach's AI-driven local marketing capabilities with the Company's data intelligence and technology platform.

Visitor Reach was determined to be a VIE because it lacks sufficient equity at risk to finance its operations without future subordinated financial support. The Company determined that it was the primary beneficiary of Visitor Reach because it has the power to direct activities that most significantly impact the entity's economic performance and an obligation to absorb losses of the entity through its majority ownership interest, and therefore consolidated Visitor Reach as of January 1, 2025.

In connection with the acquisition of Visitor Reach, the Company entered into call option agreements (the "VR Call Options") with three minority stockholders of Visitor Reach (the "VR Option Holders") in exchange for future post-combination services. These options were treated as separate from the business combination due to the post-combination service condition. Refer to Note 4, *Business Combinations* for additional information.

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The VR Call Options are independently exercisable and grant the VR Option Holders the right to collectively repurchase up to 332 units, or 16.0% of Visitor Reach's total equity, from the units currently owned by the Company. In the event all holders exercise their full options, the Company would retain approximately 35.22% of Visitor Reach's outstanding units, which could result in a deconsolidation event if the Company determined it would no longer have a controlling financial interest in Visitor Reach. The VR Call Options become exercisable on the third anniversary of the acquisition and expire 12 months thereafter, subject to forfeiture if the service-based vesting condition is not met. The exercise price of the VR Call Options is fixed at $1,506 per unit, and is payable in cash or through a promissory note. These options are equity-classified stock awards. Their carrying amount and valuation methodology are further described in Note 17, *Equity-Based Compensation*.

The Company has determined that it holds the power to direct the activities that most significantly impact Visitor Reach's economic performance while the VR Call Options remain outstanding and are not yet exercisable. However, the Company will reassess whether it remains the primary beneficiary of the VIE when the VR Call Options become exercisable in December 2027. As of January 31, 2025, the Company continues to hold the majority of issued and outstanding equity units of Visitor Reach and reports a non-controlling interest. See Note 2, *Summary of Significant Accounting Policies,* for additional details on the noncontrolling interest.

***Unconsolidated VIEs***

*Sermons Tech*

Sermons Tech, LLC is a technology company that developed an AI-powered platform designed to enhance the capabilities of pastors and church staff through tools that support sermon content generation, worship planning, small group coordination, and digital engagement. The Company's investment in Sermons Tech consisted of 40,000 Class A Units, was acquired for $2.0 million, payable in multiple installments throughout 2025. As of the acquisition date, the investment was initially recorded at $2.0 million, representing the amount paid to date, including transaction costs. The 40,000 Class A Units provided the Company with a 43.2% ownership of Sermons Tech. The Company is exposed to Sermons Tech's economic risk and rewards through the carrying amount of its equity investment, and a revenue-sharing arrangement that entitles the Company to 30.0% of Sermons Tech's revenue. As both interests expose the Company to more than an insignificant portion of Sermons Tech's variability, they are considered variable interests. Sermons Tech was determined to be a VIE because it lacks sufficient equity at risk to finance its operations without future subordinated support from related parties or the Company. Sermons Tech does not hold any debt on its books but rather has been financed through issuances of equity to the majority equity holder and the Company.

The Company accounts for its investment in Sermons Tech, LLC under the equity method of accounting, in accordance with ASC 323, as it determined it has significant influence over Sermons Tech's financial and operating policies. The investment is presented as a single line item within noncurrent assets on the balance sheet. The carrying amount of the investment will be subsequently adjusted for the Company's share of Sermons Tech's profits or losses in each reporting period, in accordance with the equity method guidance. The corresponding impact will be recognized in the income statement within the financial statement line item 'Loss (income) from equity method investments. The Company's carrying value of its investment in Sermons Tech was $1.8 million and $1.3 million as of January 31, 2024 and 2025, respectively, and is included in investments in the consolidated balance sheets. The Company's maximum exposure to loss is limited to the carrying value of its investment, as the Company has not entered into any other funding arrangements or guarantees for which it would be held liable by the VIE.

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**4.** **Business Combinations**

*Outreach Media Acquisition*

On January 2, 2024, the Company acquired 100.0% of the equity ownership of Outreach Media, Inc. ("Outreach" and the transaction, the "Outreach Acquisition"). The Company engaged an independent third-party valuation firm to determine the fair value of the transaction, including intangible assets and the contingent consideration. Goodwill represents the value expected to arise from expanded market opportunities and an acquired workforce. The goodwill is deductible for tax purposes.

Outreach, founded in 1996, has grown their customer base from a handful of local churches to over 163,000 churches across the United States. With a focus on adapting to cultural and technological shifts, its services include a comprehensive package of digital and physical products, including sermon resources, movie licensing, advanced printing and graphics support, and expert consulting from experienced ministry leaders. The Company acquired Outreach with the objective of expanding its physical presence in the faith-based marketplace by integrating Outreach's established print media and distribution capabilities into the Company's broader multi-channel engagement strategy.

The contractual purchase price consideration of $40.0 million, was adjusted to the acquisition date fair value of $53.0 million. The as-adjusted purchase price consisted of the following:

---

| | |
|:---|:---|
|  | **Estimated<br>Fair Value** |
|  | **(in thousands)** |
| Cash consideration | $19740 |
| Equity consideration | 31900 |
| Contingent consideration | 1350 |
|  | $52990 |

---

As part of the consideration transferred in the Outreach Acquisition, the Company issued 3,333,334 Series A preferred units. Concurrent with the Outreach Acquisition, the Company's chief executive officer and principal stockholder entered into a put option agreement with the sellers, granting the sellers the right, but not the obligation, to sell their Series A preferred units to the stockholder at a price of $9.00 per unit during a 12-month exercise window in 2027. Although the Company is not a party to the agreement and has no obligation to settle the put option, the fair value of the option has been included as part of the total consideration transferred in the Outreach Acquisition. This treatment reflects the substance of the arrangement, as the put option was provided in connection with the acquisition and represents a deemed capital contribution from the stockholder. The Series A preferred units were assigned an aggregate fair value of $31.9 million as of the acquisition date, inclusive of the fair value of the put option, which was estimated to be $11.9 million using the Black-Scholes Option Pricing Method, and were deemed a capital contribution from the stockholder. The valuation of the put option required significant management judgment, including assumptions related to volatility, risk-free interest rates, expected term, and other relevant inputs. As the Company is neither primarily nor secondarily obligated under the put option, no liability has been recognized and there is no ongoing impact to the Company's financial position or results of operations.

The Outreach Acquisition includes a contingent consideration arrangement that requires an additional cash consideration payment of up to $2.0 million if certain future revenue targets are met. The arrangement provides for two annual measurement periods: the first running from February 1, 2024 through January 31, 2025, and the second from February 1, 2025 through January 31, 2026. The maximum potential payout is $1.0 million for each period, subject to a formula based on the revenue performance of Outreach during each respective period. Any unpaid amount from the first period may be added to the maximum amount payable for the second period, not to exceed the total $2.0 million cap. The contingent consideration arrangement will expire on January 31, 2026. The fair value of the contingent consideration recognized on the acquisition date of $1.4 million was estimated by applying a Monte Carlo Simulation approach. The Company has estimated the fair value of this contingent consideration to be $1.4 million as of the years ended January 31, 2024, and 2025, and has included the contingent consideration in acquisition-related liabilities on the consolidated balance sheets. As of January 31, 2024, the balance was split between both acquisition-related liabilities, current, and acquisition-related liabilities, non-current. As of January 31, 2025, the full amount of the liability was included in acquisition-related liabilities, current.

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The Company incurred an immaterial amount of transaction-related costs, which were expensed as incurred and included in general and administrative expenses on the consolidated statements of operations.

The Outreach Acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with ASC 805 with the Company being identified as the accounting acquirer. Under the acquisition method of accounting, the assets acquired and liabilities assumed are recorded at their respective fair values as of the Outreach acquisition closing date.

The aggregate purchase price noted above was allocated to the identifiable assets acquired and liabilities assumed based upon their estimated fair values at the acquisition date, primarily using Level 2 and Level 3 inputs. Refer to Note 7, *Fair Value Measurements* for additional information. These fair value estimates represent management's best estimate of future cash flows (including sales, cost of sales, income taxes, etc.), discount rates, competitive trends, market comparable equity valuations, and other factors. Inputs used were generally determined from historical data supplemented by current and anticipated market conditions and growth rates.

As of January 31, 2024, the determination of fair values was complete. The excess of the consideration transferred over the fair value of the identifiable assets, net of liabilities, is recorded as goodwill, which reflects the revenue-focused synergies anticipated from integrating Outreach's well-established physical distribution network with the Company's existing digital platform.

The allocation of the purchase price and the estimated fair values of the assets acquired, and liabilities assumed are shown below:

---

| | |
|:---|:---|
|  | **(in thousands)** |
| Consideration: |  |
| &nbsp;&nbsp;Consideration transferred | $52990 |
| Identified assets and liabilities: |  |
| &nbsp;&nbsp;Cash and cash equivalents | 520 |
| &nbsp;&nbsp;Accounts receivable | 631 |
| &nbsp;&nbsp;Inventory | 1522 |
| &nbsp;&nbsp;Prepaid expenses and other current assets | 131 |
| &nbsp;&nbsp;Property and equipment | 1994 |
| &nbsp;&nbsp;Right-of-use operating lease assets | 3496 |
| &nbsp;&nbsp;Favorable lease intangible asset | 360 |
| &nbsp;&nbsp;Intangible assets | 11400 |
| &nbsp;&nbsp;Accounts payable | (261) |
| &nbsp;&nbsp;Accrued expenses | (969) |
| &nbsp;&nbsp;Deferred revenue | (1874) |
| &nbsp;&nbsp;Lease liabilities – operating | (3496) |
| &nbsp;&nbsp;Long-term debt | (356) |
| &nbsp;&nbsp;Deferred tax liability | (2813) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total identifiable net assets acquired | $10285 |
| &nbsp;&nbsp;Goodwill | $42705 |

---

The resulting goodwill of $42.7 million is not deductible for income tax purposes and represents the future economic benefit arising from other assets acquired that could not be individually identified and separately recognized. Specifically, the goodwill recorded as part of the Outreach Acquisition includes, but is not limited to: (1) the expected synergies the acquisition of Outreach will bring to the Company's portfolio while also unlocking new opportunities for growth, and (2) any intangible assets that do not qualify for separate recognition, such as the assembled workforce of Outreach.

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The Company engaged a third-party valuation expert to aid its analysis of the acquired identifiable intangible assets. All estimates, key assumptions and forecasts were either provided by or reviewed by the Company. While the Company chose to utilize a third-party valuation expert for assistance, the fair value analysis and related valuations reflect the conclusions of management and not those of any third party.

The Company recorded finite-lived intangible assets related to customer relationships, developed technology, and trademarks. Fair value of customer relationships was determined using the cost approach and the fair values of the developed technology and the trademarks were determined using the relief from royalty rate method under the income approach.

Acquired intangible assets were being amortized over the estimated useful lives on a straight-line basis. The following table summarizes the estimated fair values and estimated useful lives for the identifiable intangible assets acquired as of the acquisition date:

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| | | |
|:---|:---|:---|
|  | **Estimated<br>Useful Life** | **Estimated<br>Fair Value** |
|  |  | **(in thousands)** |
| Customer relationships | 4 years | $6000 |
| Developed technology | 5 years | 1600 |
| Trademarks | 15 years | 3800 |
|  |  | $11400 |

---

The fair value of financial assets includes accounts receivable with a fair value of $0.6 million. The gross contractual amount due for accounts receivable is $0.7 million, with $0.1 million expected to be uncollectible on the acquisition date.

Contract assets and liabilities were recorded under *ASC Topic 606, Revenue from Contracts with Customers ("ASC 606")* in accordance with ASU No. 2021-08; therefore, adjustments in contract assets and liabilities related to the estimated fair values of the acquired contract assets and liabilities were not required.

For the years ending January 31, 2024 and 2025 the Company's consolidated results included $1.4 million and $20.4 million of Outreach's revenue, $0.3 million and $29.7 million of Outreach's net loss. Of the $29.7 million loss realized for the year ended January 31, 2025, $27.8 million relates to the goodwill impairment charge recorded during the year. Refer to Note 11, *Goodwill* for additional information.

*Church Law & Tax and ChurchSalary Acquisition*

On April 29, 2024, the Company entered into a purchase agreement to acquire certain assets from Christianity Today International, an Illinois Not for Profit Corporation, effective May 1, 2024. The Company engaged an independent third-party valuation firm to determine the fair value of the transaction, including intangible assets. Goodwill represents the value expected to arise from expanded market opportunities.

Beginning in the early 1980s, Church Law & Tax has provided pastors, business administrators, executive pastors and treasurers with resources and training designed to help them keep their congregations safe, legal, and financially sound. Church Law & Tax primarily equips leaders through a membership website and numerous print and digital resources offered through an online store. The content is written to help servant leaders understand various organizational issues and perspectives without needing a formal legal or financial background. The content is also created to help churches of all types, sizes, and domestic locations, and is priced affordably to keep church leaders informed and equipped, without the need to use significant financial resources. The goal of Church Law & Tax is to help church leaders prevent avoidable issues, while allowing them to keep their financial resources concentrated on their primary mission.

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The contractual purchase price consideration of $5.5 million was adjusted to the acquisition date fair value of $6.2 million. The as-adjusted purchase price consisted of the following:

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| | |
|:---|:---|
|  | **Estimated<br>Fair Value** |
|  | **(in thousands)** |
| Cash consideration paid within one year | $1350 |
| Equity consideration | 4850 |
|  | $6200 |

---

As part of the consideration transferred, the Company issued 666,667 Series A preferred units. Concurrent with the execution of the Asset Purchase Agreement, the Company's chief executive officer and principal stockholder entered into a put option agreement with Christianity Today International, granting Christianity Today International the right, but not the obligation, to sell their Series A preferred units to the stockholder at a price of $6.00 per unit during a 12-month exercise window beginning May 1, 2027. The Series A preferred units were assigned an aggregate fair value of $4.0 million as of the acquisition date, and the fair value of the put option, which was estimated at $0.9 million using the Black-Scholes Option Pricing Method, was deemed a capital contribution from the stockholder. The fair value measurement of the put option reflects significant management judgment, including assumptions related to volatility, risk-free interest rates, expected term, and other relevant inputs.

The Company incurred $0.1 million in transaction-related costs, which were expensed as incurred and included in General and administrative expenses on the consolidated statements of operations. The transaction was accounted for as a business combination using the acquisition method of accounting in accordance with ASC 805.

The aggregate purchase price noted above was allocated to the identifiable assets acquired and liabilities assumed based upon their estimated fair values at the acquisition date, primarily using Level 3 inputs. Refer to Note 7, *Fair Value Measurements* for additional information. These fair value estimates represent management's best estimate of future cash flows (including sales, cost of sales, other expenses, etc.), discount rates, competitive trends, market comparable equity valuations, and other factors. Inputs used were generally determined from historical data supplemented by current and anticipated market conditions and growth rates.

As of July 31, 2024, the determination of fair values was complete. The excess of the consideration transferred over the fair value of the identifiable assets, net of liabilities, is recorded as goodwill, which is indicative of the expected expanded market opportunities.

The tangible assets were de minimis, and no liabilities were assumed in the transaction. The allocation of purchase price and the estimated fair values of the assets acquired are shown below:

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| | |
|:---|:---|
|  | **(in thousands)** |
| Consideration: |  |
| &nbsp;&nbsp;Consideration transferred | $6200 |
| Identified assets: |  |
| &nbsp;&nbsp;Intangible assets | 1525 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total identifiable net assets acquired | $1525 |
| &nbsp;&nbsp;Goodwill | $4675 |

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The resulting goodwill of $4.7 million is deductible for tax purposes.

The Company recorded definite-lived intangible assets related to customer relationships and trademarks. Fair value of the customer relationships was determined using the multi-period excess earnings method, which is an income approach, and the fair values of the trademarks were determined using the relief from royalty rate method under the income approach.

The fair values of the identifiable intangible assets acquired on the acquisition date were as follows:

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| | | |
|:---|:---|:---|
|  | **Estimated<br>Useful Life** | **Estimated<br>Fair Value** |
|  |  | **(in thousands)** |
| Customer relationships – ChurchSalary | 9 years | $750 |
| Developed technology – Church Law & Tax | 10 years | 625 |
| Trademarks | 7 years | 150 |
|  |  | $1525 |

---

For the period ending January 31, 2025, the Company's consolidated results included $0.6 million of revenue and $0.2 million of net loss.

*Visitor Reach Acquisition*

On January 1, 2025, the Company acquired 51.2% of the equity ownership of Visitor Reach, LLC. ("Visitor Reach" and the transaction, the "Visitor Reach Acquisition"). The Company engaged an independent third-party valuation firm to determine the fair value of the transaction, including intangible assets, and the noncontrolling interest. Goodwill represents the value expected to arise from expanded market opportunities and an acquired workforce. The goodwill is deductible for tax purposes.

Visitor Reach, founded in 2023, is a technology-driven platform designed to connect churches with local seekers and newcomers through advanced digital tools and personalized outreach strategies. Founded by an experienced team of pastors and church leaders, Visitor Reach aims to bridge the gap between churches and those searching for spiritual communities. As culture and technology have evolved, Visitor Reach has remained at the forefront, introducing its proprietary platform, aiChurchTech™, and a mobile app to facilitate personalized outreach via SMS and automated messaging. Operating on a tiered subscription model, Visitor Reach offers scalable access to its comprehensive suite of services like digital optimization, pcersonalized advertising, a real-time messaging app, an intelligent follow-up system, and dedicated client services for churches. The Company acquired the majority interest in Visitor Reach with the objective of enhancing digital outreach for churches by combining Visitor Reach's AI-driven local marketing capabilities with the Company's data intelligence and technology platform.

The contractual purchase price was $9.0 million, of which $0.6 million was paid directly to the selling stockholders in return for the Company acquiring 51.2% equity interests. The remaining $8.4 million was contributed directly to the acquiree as a capital infusion to fund working capital and support post-acquisition operations. Because the $8.4 million remains within the acquiree and under the Company's control as the controlling stockholder, only the $0.6 million paid to the selling stockholders constitutes consideration transferred in accordance with ASC 805.

Concurrent with the Visitor Reach Acquisition, the Company executed call option agreements with three minority owners of Visitor Reach who continue to serve in management positions at the company. The VR Call Options are exercisable three years from the acquisition date and expire twelve months thereafter and, if fully exercised, would reduce the Company's ownership in Visitor Reach to 35.2%. The VR Call Options are subject to the holder's continued employment with the Company and will be forfeited if the holders' employment is terminated by either party. Given the compensatory nature of the VR Call Options, they are not considered part of the Purchase Price and were accounted for separately from the Visitor Reach Acquisition. For more information regarding the VR Call Options refer to Note 3, *Variable Interest Entities* and Note 17, *Equity-Based Compensation*.

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The Company incurred $0.2 million in transaction-related costs, which were expensed as incurred and included in general and administrative expenses on the consolidated statements of operations.

The Visitor Reach Acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with ASC 805 with the Company being identified as the accounting acquirer. Under the acquisition method of accounting, the assets acquired and liabilities assumed are recorded at their respective fair values as of the Visitor Reach acquisition closing date.

The aggregate purchase price noted above was allocated to the identifiable assets acquired and liabilities assumed based upon their estimated fair values at the acquisition date, primarily using Level 2 and Level 3 inputs. Refer to Note 7, *Fair Value Measurements* for additional information. These fair value estimates represent management's best estimate of future cash flows (including sales, cost of sales, income taxes, etc.), discount rates, competitive trends, market comparables, and other factors. Inputs used were generally determined from historical data supplemented by current and anticipated market conditions and growth rates.

As of January 31, 2025, the determination of fair values was complete. The excess of the purchase price over the estimated fair values of the underlying identifiable assets acquired, liabilities assumed, and non-controlling interest was allocated to goodwill. The estimated fair value of the non-controlling interest was based on the price the Company paid for its 51.2% controlling interest in Visitor Reach. Goodwill represents the value expected to arise from expanded market opportunities and an acquired workforce.

The allocation of the purchase price and the estimated fair market values of the assets acquired, liabilities assumed, and noncontrolling interest are shown below:

---

| | |
|:---|:---|
|  | **(in thousands)** |
| Consideration: |  |
| Consideration transferred | $631 |
| Identified assets and liabilities: |  |
| Cash and cash equivalents | 50 |
| Accounts receivable | 10 |
| Prepaid expenses and other current assets | 48 |
| Property and equipment | 41 |
| Intangible assets | 890 |
| Accounts payable | (739) |
| Accrued liabilities | (104) |
| Notes payable | (1000) |
| &nbsp;&nbsp;&nbsp;Total identifiable net assets acquired | (804) |
| Noncontrolling interest | (6839) |
| &nbsp;&nbsp;&nbsp;Total | (7643) |
| Goodwill | $8274 |

---

The resulting goodwill of $8.3 million is partially deductible for income tax purposes and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Specifically, the goodwill recorded as part of the Visitor Reach Acquisition includes, but is not limited to: (1) the expected synergies Visitor Reach will bring to the Company's portfolio while also unlocking new opportunities for growth, and (2) any intangible assets that do not qualify for separate recognition, such as the assembled workforce of Visitor Reach.

The Company recorded finite-lived intangible assets related to customer relationships, developed technology, and trademarks. Fair value of the customer relationships was determined using the multi-period excess earnings method under the income approach and the fair value of the developed technology and the trademarks was determined using the relief from royalty rate method under the income approach.

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Acquired intangible assets are being amortized over the estimated useful lives on a straight-line basis. The following table summarizes the estimated fair values (in thousands) and estimated useful lived for the identifiable intangible assets acquired as of the acquisition date:

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| | | |
|:---|:---|:---|
|  | **Estimated<br>Useful Life** | **Estimated<br>Fair Value** |
|  |  | **(in thousands)** |
| Customer relationships | 10 years | $90 |
| Developed technology | 5 years | 450 |
| Trademarks | 6 years | 350 |
|  |  | $890 |

---

Contract assets and liabilities were recorded under *ASC Topic 606, Revenue from Contracts with Customers ("ASC 606")* in accordance with ASU No. 2021-08; therefore, adjustments in contract assets and liabilities related to the estimated fair values of the acquired contract assets and liabilities were not required.

For the period ending January 31, 2025, the Company's consolidated results included $0.2 million of Visitor Reach's revenue, and $0.2 million of Visitor Reach's net loss.

*Supplemental Unaudited Pro Forma Information*

The unaudited supplemental pro forma financial information below presents the combined historical results of operations of the Company, Outreach, and Visitor Reach for the period presented as if Outreach and Visitor Reach had been acquired as of February 1, 2023:

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| | | |
|:---|:---|:---|
|  | **Pro Forma (unaudited)** | **Pro Forma (unaudited)** |
|  | **For the Year Ended January 31,** | **For the Year Ended January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Revenue | $41695 | $24466 |
| Net loss | (48542) | (96086) |

---

Pro forma information reflects adjustments that are expected to have a continuing impact on the Company's results of operations and are directly attributable to the acquisition. The unaudited supplemental pro forma information above includes adjustments to reflect, among other things, direct transaction costs relating to the acquisition, the incremental intangible asset amortization to be incurred based on the preliminary values of each identifiable intangible asset, and to eliminate a portion of the interest expense related to liabilities, which were assumed by the Company upon completion of the acquisition. The unaudited supplemental pro forma financial information has been presented for illustrative purposes only and is not necessarily indicative of results of operations that would have been achieved had the acquisitions taken place on the date indicated, or of the Company's future consolidated statements of operations. The supplemental pro forma information presented above has been derived from the Company's historical consolidated financial statements and from the historical accounting records of Outreach and Visitor Reach.

**5.** **Equity Method Investments**

The Company accounts for its investments in unconsolidated investees using the equity method of accounting due to its ability to exercise significant influence over the operating and financial policies of these entities. The Company's equity method investments as of January 31, 2025, consisted of two entities: Midwestern and Sermons Tech.

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The summarized financial information below represents the financial position and results of operations of Midwestern and Sermon Tech:

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| | | |
|:---|:---|:---|
| **Balance Sheet** | **As of January 31, 2025** | **As of January 31, 2025** |
|  | **(in thousands)** | **(in thousands)** |
|  | **Midwestern<br>Interactive** | **Sermons Tech** |
| Current assets | $1415 | $478 |
| Non-current assets | 1540 | 109 |
| Current liabilities | (1264) | (302) |
| Non-current liabilities | (3840) |  |

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| | | |
|:---|:---|:---|
| **Statement of Operations** | **For the Year Ended January 31, 2025** | **For the Year Ended January 31, 2025** |
|  | **(in thousands)** | **(in thousands)** |
|  | **Midwestern<br>Interactive** | **Sermons Tech** |
| Total revenues | $1273 | $1323 |
| Gross profit | 553 | 982 |
| (Loss) Income from operations | 281 | (2656) |
| Net income (loss) | 268 | (2656) |

---

***Midwestern Interactive, LLC***

On January 3, 2025, the Company acquired 8,000 common units of Midwestern Interactive, LLC, representing an 80.0% membership interest in the company, for a total purchase price of approximately $31.7 million, paid for with a combination of cash, Series A preferred units, and note issuances. The investment was determined to be an equity method investment due to the Company's ability to exercise significant influence over Midwestern through its equity investment and representation on Midwestern's board of directors. The Company does not consolidate Midwestern under ASC Topic 810, Consolidation ("ASC 810") because the participating rights held by Midwestern's minority interest holder limits the Company's ability to unilaterally control the company.

In connection with the investment, the Company entered into a freestanding call option agreement (the "MW Call Option") with the minority interest holder of Midwestern, Flourish Holdings, Inc. ("NewCo"). The MW Call Option grants the minority interest holder the right to repurchase all 8,000 of the Company-owned Midwestern units at a fixed price of $2.1 million. The option becomes exercisable on the third anniversary of the effective date of the investment and expires twelve months thereafter, and is subject to earlier exercise if the Company (1) enters insolvency proceedings or (2) completes a qualified IPO that raises at least $50.0 million, and its shares trade above $12.00 per share for 90 consecutive days. The exercise price reflects the form of the original consideration, payable as: return of the cash consideration paid, forgiveness of the unpaid balance and reimbursement of prior payments on the installment payment note, forgiveness of the remaining payments on two promissory notes issued in connection with the investment, and the return of approximately 2.1 million of the Company's Series A preferred units issued in connection with the transaction. Upon exercise of the MW Call Option, the Company would be fully divested of its equity investment in Midwestern. The MW Call Option was recorded as a liability in other non-current liabilities on the Company's consolidated balance sheets, initially valued at $8.8 million and measured at fair value on a recurring basis with changes in fair value recorded in loss (gain) from change in fair value of financial instruments in the consolidated statements of operations. Refer to Note 7, Fair Value Measurements for more information.

The initial value of the Company's investment in Midwestern was $31.7 million. Included in the initial carrying value of $31.7 million was a basis difference between the equity method investment recorded on the books of Gloo and the standalone books of Midwestern of approximately $5.4 million. This difference was primarily related to the recognition of intangible assets associated with Midwestern's customer relationships and trademarks. Basis differences are amortized on a straight-line basis over the remaining life of the assets or liabilities to which they relate and are recognized as an adjustment to the Company's share in the income or losses of Midwestern.

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The Company recognized its proportionate share of Midwestern's results of operations, net of the amortization of the basis difference, in gain (loss) on equity investments, net in the consolidated statements of operations for the year ended January 31, 2025. During that period, the Company recognized an immaterial equity method gain. The carrying amount of the investment was included in long-term investments on the consolidated balance sheet and was $31.7 million as of January 31, 2025.

***Sermons Tech LLC***

On October 25, 2023, the Company entered into a purchase agreement to acquire 40,000 Class A units of Sermons Tech, representing a 40.0% equity interest, for total consideration of $2.0 million payable in multiple installments throughout 2023, 2024 and 2025. Sermons Tech is a limited liability company formed in July 2023 through a planned strategic relationship with the Company to commercialize the Sermons Tech software platform, an artificial intelligence-driven tool designed to support church leaders and staff in developing and enhancing sermons and related media.

Based on the size and nature of its investment, including its representation on Sermons Tech's board of directors, the Company determined that it can exercise significant influence over Sermons Tech and should account for its investment under the equity method in accordance with *ASC Topic 323, Investments – Equity Method and Joint Ventures ("ASC 323")*.

The Company recognized its proportionate share of Sermons Tech's results of operations in gain (loss) on equity investments, net in the consolidated statements of operations for the years ended January 31, 2024 and 2025. For those periods, the Company recognized equity method losses of $0.2 million and $0.6 million, respectively. The carrying amount of the investment was included in long-term investments on the consolidated balance sheets and was $1.8 million and $1.2 million as of the years ended January 31, 2024 and 2025, respectively.

**6.** **Revenue**

***Deferred Revenue and Remaining Performance Obligations*** 

For transactions in which payment has been received and there is an outstanding performance obligation, the associated revenue is recorded as deferred revenue and recognized once such obligation is fulfilled. During the years ended January 31, 2024 and 2025, the Company recognized $0.7 million and $0.2 million, respectively, of revenue that was included in deferred revenue at the beginning of the respective period.

Deferred revenue that will be recognized within the next twelve months is recorded as current deferred revenue, and the remaining portion is recorded as non-current. As of January 31, 2025, the Company's aggregate amount of transaction price allocated to remaining performance obligations from contracts with customers was $4.3 million, of which the Company expects to recognize approximately 100.0% as revenue over the next 12 months.

***Significant Payment Terms***

The Company enters into contracts that are typically one year in length or less with payments required up front on either an annual or monthly basis. The Company has applied the practical expedient to not adjust the consideration for the effects of a significant financing component because the period between the transfer of the promised service and the payment is one year or less. In most cases, contracts are non-cancelable, and consideration paid for services that customers purchase from the Company is non-refundable. For contracts that extend beyond 12 months, the Company delivers its services once it receives up-front payment, thus not meeting the definition of a significant financing component. Therefore, at the time revenue is recognized, the Company does not estimate expected refunds for services, nor does the Company exclude any such amounts from revenue.

***Costs to Obtain Revenue Contracts***

As a practical expedient, the Company recognizes the incremental costs of obtaining contracts, such as sales commissions, as expenses when incurred if the amortization period is one year or less.

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**7.** **Fair Value Measurements**

The following table presents the Company's assets and liabilities that are measured at fair value on a recurring and nonrecurring basis and indicates the fair value hierarchy of the valuation:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of January 31, 2025** | **As of January 31, 2025** | **As of January 31, 2025** | **As of January 31, 2025** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Liabilities:** |  |  |  |  |
| Derivative liability | $— | $— | $832 | $832 |
| Warrant liability |  |  | 4551 | 4551 |
| MW Call Option |  |  | 8793 | 8793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $— | $— | $14176 | $14176 |

---

The derivative liability, warrant liability, and MW Call Option are included in non-current liabilities on the consolidated balance sheets.

***Warrant Liability***

The fair value of the warrant liability is estimated using an option-pricing model across IPO and Stay Private Scenarios in determining the fair values. These models consider many assumptions, including the likelihood of various potential liquidity events, the nature and timing of such potential events, actions taken with regard to the warrants at expiration, as well as discounts for lack of marketability of the underlying securities and warrants.

The Company estimated the fair value using the following key assumptions:

---

| | | |
|:---|:---|:---|
|  | **Years Ended January 31,** | **Years Ended January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Discounts for lack of marketability |  |  |
| Fair value of underlying securities |  | $1.50 |
| Expected volatility |  | 55.0% |
| Dividend rate |  | 0.0% |
| Risk-free interest rate |  | 4.3% |

---

The following table sets forth a summary of the changes in the estimated fair value of the Company's warrant liability:

---

| | |
|:---|:---|
|  | **(in thousands)** |
| Balance as of January 31, 2024 | $— |
| &nbsp;&nbsp;&nbsp;April 2024 issuance | 1812 |
| &nbsp;&nbsp;&nbsp;July 2024 issuance | 1550 |
| &nbsp;&nbsp;&nbsp;August 2024 issuance | 130 |
| &nbsp;&nbsp;&nbsp;January 2025 issuance | 1125 |
| &nbsp;&nbsp;&nbsp;Changes in fair value of warrants | (66) |
| Balance as of January 31, 2025 | $4551 |

---

***Derivative Liability***

The embedded derivative liability relates to the features embedded in the Senior Secured Promissory Notes issued during the year ended January 31, 2025. The Company estimates the fair value of this liability using the "With and Without" method. This approach involves modeling the expected cash flows to the noteholder under both a default and non-default scenario, and determining the fair value differential between a note with and without the embedded features.

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The valuation incorporates significant unobservable inputs, such as the timing and probability of potential liquidity events, discount rate, illiquidity discount, and expected volatility. Other inputs include prevailing interest and risk-free rates, which are not considered significant unobservable estimates. See Note 15, *Debt*, for details on the embedded derivative liability.

***Nonrecurring Fair Value Measurements***

The fair values of assets acquired and liabilities assumed in an acquisition are measured on a non–recurring basis on the acquisition date. If the assets acquired and liabilities assumed are current and short–term in nature, the Company uses their approximate carrying values as their fair values, which are either categorized as Level 1 or Level 2 inputs in the fair value hierarchy. If the assets acquired are not short–term in nature, then the fair value is determined using the estimated replacement values of the same or similar assets and, as such, are considered Level 3 inputs in the fair value hierarchy. Refer to Note 2, *Business Combinations* for a further discussion of the Company's acquisitions.

**8.** **Inventory, Net**

Inventory consisted of the following as of January 31, 2024 and 2025:

---

| | | |
|:---|:---|:---|
|  | **As of January 31,** | **As of January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Raw materials | $585 | $485 |
| Work in process | 30 | 10 |
| Finished goods | 885 | 1239 |
| Reserve |  | (274) |
| &nbsp;&nbsp;Inventory, net | $1500 | $1460 |

---

**9.** **Capitalized Software, Net**

Capitalized software consisted of the following as of January 31, 2024 and 2025:

---

| | | |
|:---|:---|:---|
|  | **As of January 31,** | **As of January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Capitalized software | $18206 | $38921 |
| Less: accumulated amortization | (10392) | (15343) |
| &nbsp;&nbsp;&nbsp;Capitalized software, net | $7814 | $23578 |

---

The Company capitalized software costs associated with application development totaling $4.4 million and $10.2 million during the years ended January 31, 2024 and 2025, respectively. During the year ended January 31, 2025, the Company acquired $10.5 million of capitalized software through the issuance of equity. Amortization expense, which is included in depreciation and amortization in the consolidated financial statements of operations, totaled $4.3 million and $5.0 million for the years ended January 31, 2024 and 2025, respectively.

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**10.** **Intangible Assets** 

Intangible Assets consisted of the following as of January 31, 2024 and 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of January 31, 2025** | **As of January 31, 2025** | **As of January 31, 2025** | **As of January 31, 2025** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
|  | **Useful Life** | **Gross Carrying<br>Value** | **Accumulated<br>Amortization** | **Net Book Value** |
| Customer relationships | 4-10 years | $7465 | $(1730) | $5735 |
| Developed technology | 5 years | 2050 | (354) | 1696 |
| Tradenames | 6-15 years | 4300 | (300) | 4000 |
| &nbsp;&nbsp;&nbsp;Total |  | $13815 | $(2384) | $11431 |

---

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of January 31, 2024** | **As of January 31, 2024** | **As of January 31, 2024** | **As of January 31, 2024** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
|  | **Useful Life** | **Gross Carrying<br>Value** | **Accumulated<br>Amortization** | **Net Book Value** |
| Customer relationships | 4 years | $6000 | $(123) | $5877 |
| Developed technology | 5 years | 1600 | (26) | 1574 |
| Tradenames | 15 years | 3800 | (21) | 3779 |
| &nbsp;&nbsp;&nbsp;Total |  | $11400 | $(170) | $11230 |

---

Amortization expense was $0.2 million and $2.2 million for the years ended January 31, 2024 and 2025, respectively.

The weighted average remaining useful life of intangible assets acquired is years 7.8 years and 7.3 years for the years ended January 31, 2024 and 2025, respectively.

In determining the useful life for each category of intangible asset, the Company considered the expected use of the intangible, the longevity of the brand and considerations for obsolescence, demand, competition and other economic factors.

Amortization expense for the Company's intangible assets for the years ending January 31 are as follows:

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| | |
|:---|:---|
| **Year Ending January 31:** | **(in thousands)** |
| 2026 | 2398 |
| 2027 | 2398 |
| 2028 | 2278 |
| 2029 | 872 |
| 2030 | 570 |
| Thereafter | 2915 |
| &nbsp;&nbsp;&nbsp;Total amortization expense | $11431 |

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**11.** **Goodwill**

The following table reflects the changes in the carrying amount of goodwill for the years ended January 31, 2024 and 2025:

---

| | |
|:---|:---|
|  | **(in thousands)** |
| Balance, February 1, 2023 | $— |
| &nbsp;&nbsp;&nbsp;Acquired goodwill | 42705 |
| Balance, January 31, 2024 | 42705 |
| &nbsp;&nbsp;&nbsp;Acquired goodwill | 12949 |
| &nbsp;&nbsp;&nbsp;Impairment | (27753) |
| Balance, January 31, 2025 | $27901 |

---

Based on a qualitative assessment of goodwill at the Outreach reporting unit, management determined it was necessary to perform a quantitative valuation of goodwill as of November 1, 2024. The valuation of the Outreach reporting unit was determined using the income approach (discounted cash flows method) and the market approach (guideline public company method). Significant assumptions in these analyses included, but were not limited to, future cash flow projections, the weighted average cost of capital of 13.0%, the terminal exit multiple of EBITDA of 9.5, a blended income tax rate of 24.5%, and a control premium of 10.0%. The Company's estimates of future cash flows are based on current regulatory and economic climates, recent operating results, and planned business strategies. These estimates could be negatively affected by changes in federal, state or local regulations or economic downturns. Future cash flow estimates are, by their nature, subjective and actual results may differ materially from the Company's estimates. If the Company's ongoing estimates of future cash flows are not met, the Company may have to record additional impairment charges in future periods. The Company also uses the Guideline Public Company method, a form of the market approach (using Level 3 unobservable inputs), which is derived from metrics of publicly traded companies. The selection of comparable businesses is based on the markets in which the reporting unit operates considering risk profile, size, geography, and diversity of products and services. During the year ended January 31, 2025, the Company recognized a $27.8 million goodwill impairment charge and recorded it to impairment of goodwill in the consolidated statements of operations. The Company believes that delays in executing strategic initiatives associated with Outreach during the year ended January 31, 2024, contributed to the impairment.

Goodwill as of January 31, 2025, was:

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| | |
|:---|:---|
|  | **(in thousands)** |
| Gross goodwill | $55654 |
| &nbsp;&nbsp;&nbsp;Accumulated impairment losses | (27753) |
| Balance, January 31, 2025 | $27901 |

---

**12.** **Property and Equipment, Net**

Property, plant and equipment consisted of the following as of January 31, 2024, and 2025:

---

| | | |
|:---|:---|:---|
|  | **As of January 31,** | **As of January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Furniture and equipment | $1802 | $1798 |
| Computers and electronics | 1125 | 1227 |
| Leasehold improvements | 666 | 574 |
| &nbsp;&nbsp;&nbsp;Total property and equipment | 3593 | 3599 |
| Less: accumulated depreciation | (1208) | (1296) |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | $2385 | $2303 |

---

Depreciation expense was $0.2 million and $0.5 million and for the years ended January 31, 2024 and 2025, respectively.

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**13.** **Leases**

The Company leases office facilities under non-cancellable operating lease arrangements, expiring at various dates through 2030. The Company's leases generally provide for periodic rent increases and may contain escalation clauses, extension options, or renewal options. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably certain at lease commencement. The Company's lease agreements generally do not contain any material residual value guarantees or material restrictive covenants.

Two of the facilities are leased from entities controlled by the CEO of the Company, and total lease payments for these properties totaled $0.2 million for each of the years ended January 31, 2024 and 2025. For information on the lease arrangements with related parties, see Note 19, *Related Party Transactions*.

On January 2, 2024, as part of the acquisition of Outreach Media, Inc, the Company acquired two leases with favorable terms, resulting in a total operating lease liability of $3.5 million and a total right-of-use asset of $3.8 million. These two leases are from entities controlled by the sellers of Outreach Media, Inc, who are also employees of the Company.

The components of lease costs, lease term, and discount rate for operating leases are as follows:

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| | | |
|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Operating lease costs | $466 | $1231 |
| Variable lease costs | 384 | 910 |
| Total lease cost | $850 | $2141 |
| Weighted-average remaining lease term (in years) | 4.60 | 3.97 |
| Weighted-average discount rate | 11.41% | 11.41% |

---

Supplemental balance sheet information related to operating leases were as follows:

---

| | | |
|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Operating lease ROU assets – related parties | $4231 | $3618 |
| Operating lease ROU assets – third parties | 381 | 217 |
| Total operating lease ROU assets | $4612 | $3835 |
| Operating lease liabilities – related parties | $3879 | $3556 |
| Operating lease liabilities – third parties | 385 | 224 |
| Total operating lease liabilities | $4264 | $3780 |

---

Supplemental cash flow information related to operating leases were as follows:

---

| | | |
|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Cash payments for operating leases | $437 | $955 |

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The future maturities of long-term operating lease liabilities for each fiscal year are as follows:

---

| | |
|:---|:---|
| **Year Ending January 31:** | **Maturity of<br>Operating<br>Lease Liabilities** |
|  | **(in thousands)** |
| 2026 | $1073 |
| 2027 | 803 |
| 2028 | 793 |
| 2029 | 817 |
| 2030 | 841 |
| Thereafter | 792 |
| Total | 5119 |
| &nbsp;&nbsp;Less: imputed interest | 1339 |
| Present value of lease liabilities | 3780 |
| &nbsp;&nbsp;Less: current obligations | 685 |
| Long-term obligations under leases | $3095 |

---

Other supplemental information related to long-term operating leases for the years ended January 31, 2024 and 2025, consists of the following:

---

| | | |
|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Fair value of below-market lease obtained in acquisition included in <br>&nbsp;&nbsp;&nbsp;&nbsp;acquired right-of-use asset | $356 | $304 |

---

**14.** **Commitments and Contingencies**

***Litigation***

From time to time, the Company may be involved in litigation related to claims arising out of operations in the normal course of business. The Company accrues a liability for such matters when it is probable that a liability has been incurred and the amount can be reasonably estimated. When only a range of possible loss can be established, the most probable amount in the range is accrued. If no amount within the range is a better estimate than any other amount within the range, the minimum amount in the range is accrued. The accrual for a litigation loss contingency might include, for example, estimates of potential damages, outside legal fees and other directly related costs expected to be incurred. As of January 31, 2025, and through the date these consolidated financial statements were issued, there were no legal proceedings requiring recognition or disclosure in the consolidated financial statements.

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**15.** **Debt**

The carrying value of our non-current debt was as follows at the dates indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **Effective** | **January 31** | **January 31** |
| **Instrument** | **Maturities** | **Interest Rate** | **2024** | **2025** |
|  |  |  | **(in thousands)** | **(in thousands)** |
| PPP loans |  | 0.00% | $1000 | $952 |
| Senior Secured Notes | April 23, 2027 | 17.48% |  | 62061 |
| Midwestern Notes | Varied | 3.07% - 5.00% |  | 11827 |
| Visitor Reach Notes | Varied | 14.00% |  | 1000 |
| Other notes payable |  |  | 338 | 374 |
| &nbsp;&nbsp;&nbsp;Total |  |  | 1338 | 76214 |
| Unamortized discount and issuance costs |  |  |  | 6078 |
| Amounts due within one year |  |  | 1195 | 3177 |
| &nbsp;&nbsp;&nbsp;Total debt, non-current |  |  | $143 | $66959 |

---

During the year ended January 31, 2025, the Company had short-term borrowings from related parties totaling $1.0 million with a weighted average interest rate of 14.0%. The maximum and average outstanding borrowings during the year were $1.0 million. Refer to the Visitor Reach Notes below for additional information.

As of January 31, 2025, future principal payments for the Company's long-term debt were as follows:

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| | |
|:---|:---|
| **Year Ending January 31:** | **(in thousands)** |
| 2026 | $3177 |
| 2027 | 64255 |
| 2028 | 526 |
| 2029 | 543 |
| 2030 | 2137 |
| Thereafter | 5576 |
| &nbsp;&nbsp;&nbsp;Total | $76214 |

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***Forgivable Notes***

During the years ended January 31, 2021 and 2022, the Company entered into promissory note agreements with a not-for-profit entity ("NFP"), under which the Company was allowed to draw borrowings that mature either three or five years from each borrowing and bear interest at 2.0% per annum (the "Forgivable Notes"). The Forgivable Notes, including all principal and interest, are eligible to be forgiven to the extent that the Company applies any proceeds towards the Company's technology and promotion services on behalf of potential new or existing customers in support of the NFP's objective for the funds, thus representing a conditional contribution as a result of a non-exchange transaction. As of January 31, 2024 and January 31, 2025, the Company had no borrowings outstanding on the Forgivable Notes. During the year ended January 31, 2024, the Company had $5.4 million forgiven, representing the entire remaining balance, relating to the retail value of technology and services provided in accordance with the terms of the Forgivable Notes. The services provided, as agreed to in the promissory note agreements, are part of the Company's major ongoing activities and has been recorded as other revenue in the consolidated statements of operations in accordance with *ASC Topic 958-605, Revenue recognition ("ASU 958-606")*. Refer to Note 19, *Related Party Transactions* for additional information.

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***Paycheck Protection Program Loans***

During the year ended January 31, 2021, the Company received a Paycheck Protection Program ("PPP") loan in the amount of $4.9 million. The PPP loan program was created under the Coronavirus Aid, Relief, and Economic Security ("CARES") Act and is administered by the Small Business Administration ("SBA"). Under the terms of this program, the loan may be fully or partially forgiven if the loan proceeds are spent on qualifying expenses and if staffing levels and salary maintenance requirements are met. In addition, because the Company's loan exceeds $2.0 million, the SBA will review the Company's loan file, which will include review of the Company's eligibility for the program and the good-faith certification of the necessity of the loan.

During the year ended January 31, 2022, the SBA claimed that the Company did not qualify for forgiveness for $1.0 million of the PPP loan. The Company filed an appeal challenging the claim but was denied. The Company is not pursuing forgiveness further. As a result, the balance is reflected as a liability on the consolidated balance sheet as of January 31, 2025 and 2024.

In September 2024, the Company agreed on a payment plan with the SBA to pay the loan in 180 equal monthly installments starting September 25, 2024, including interest.

***Convertible Promissory Notes***

On September 1, 2021, the Company entered into a convertible note purchase agreement (together, with its amendments, the "Convertible Note Purchase Agreement") that authorized the issuance of up to $40.0 million of secured convertible notes, with later amendments increasing the amount to a total of $83.6 million (the "Convertible Notes"). During the year ended January 31, 2024, the Company received proceeds of $18.2 million. The Company did not receive any proceeds during the year ended January 31, 2025.

The Convertible Notes bore interest at 5.0% and had a maturity date of December 31, 2024. The Company retained the right to redeem the Convertible Notes at any time at par plus accrued interest, provided holders first received an opportunity to convert. The Convertible Notes contained provisions under which all principal and accrued interest was convertible into the Company's Series A preferred units upon (1) the Company's completion of a financing above certain thresholds before maturity (a "Qualified Financing"), (2) at the holder's election, or (3) the Company's completion of a Corporate Transaction (as defined in the Convertible Note Purchase Agreement), the last of which was required to be settled in cash.

The contingent cash-settled conversion feature upon a Corporate Transaction met the definition of a derivative under ASC Topic 815, *Derivatives and Hedging ("ASC 815")* and required bifurcation. The Company determined the fair value of the derivative was not material and, as such, recorded the derivative in the same line item as the Convertible Notes in the consolidated balance sheets.

The Convertible Notes were initially recognized based on the proceeds received from issuance, net of issuance costs of $0.5 million. The Convertible Notes were subsequently accounted for using the effective interest method to amortize the discount and issuance costs. During the years ended January 31, 2024 and 2025, there was $3.8 million and no interest expense, respectively. The interest expense in 2024 included $3.6 million of coupon interest and $0.2 million related to the amortization of debt discounts and issuance costs.

The Convertible Notes were all personally guaranteed by the Company's principal stockholders, Scott and Theresa Beck, as discussed further in Note 19, *Related Party Transactions*.

***Conversion of Convertible Promissory Notes***

On January 2, 2024, a Qualified Financing occurred in connection with the Outreach Acquisition, and the outstanding principal of $83.6 million plus accrued interest of $6.6 million automatically converted into the Company's Series A preferred units at $4.50 per unit, resulting in the issuance of 20,037,364 Series A preferred units. Upon conversion, the carrying amount of the Convertible Notes and an immaterial amount of remaining unamortized issuance costs were reclassified to equity. See Note 18, *Members' Deficit* for more information. No principal or accrued interest related to the Convertible Notes remained outstanding as of the years ended January 31, 2024 and 2025. All material covenants and payment obligations under these notes were satisfied upon conversion.

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***Senior Secured Notes and Warrants***

On April 23, 2024, the Company entered into a promissory note purchase agreement (the "Note Purchase Agreement") authorizing the issuance of up to an aggregate principal amount of $70.0 million in secured promissory notes (the "Senior Secured Notes"). Through various closings between April 2024 and January 2025, the Company issued $60.7 million of Senior Secured Notes to multiple investors (the "Purchasers"). The Notes, which are prepayable at any time by the Company without penalty, are due any time on or after April 23, 2027. The Senior Secured Notes bear interest at a variable rate equal to the higher of 1-Month SOFR or 1%, plus 8.0% per annum. Interest is payable quarterly in arrears, comprising 8.0% cash interest and the remainder as payment-in-kind ("PIK Interest"). Upon the Purchaser electing to continue holding such Senior Secured Notes upon an event of default occurring (as defined in the Note Purchase Agreement), the obligations under the Senior Secured Notes will automatically bear interest at a rate equal to an additional 5.0% per annum over the rate otherwise applicable.

The Senior Secured Notes contain embedded features that are required to be bifurcated and accounted for separately as derivative liabilities under *ASC Topic 815, Derivatives and Hedging ("ASC 815")*. These include contingent put and contingent interest features that are not clearly and closely related to the debt host. The bifurcated derivative liability is recorded at fair value, with changes in fair value recognized in earnings, refer to Note 7, *Fair Value Measurements* for additional information for the Company's adjustments to fair value. The Company will continue to assess the fair value of these features at each reporting date.

All Senior Secured Notes are jointly and severally guaranteed by the Company's wholly owned subsidiaries. Further, the Senior Secured Notes issued to one of the Purchasers are personally guaranteed by the Company's principal stockholders, Scott and Theresa Beck as discussed further in Note 19, *Related Party Transactions*.

As of January 31, 2025, the total estimated fair value of the Senior Secured Notes was $58.5 million. The estimated fair value, which the Company deems Level 2 financial instruments, was determined by management based on an independent third party valuation report.

As additional consideration to the Purchasers for providing the financing, the Company agreed to issue each Purchaser warrants to purchase Series A preferred units at an exercise price of $6.00 per unit (the "Warrants"). The number of Warrants issued to each Purchaser was equal to 30.0% of the principal amount of the Senior Secured Notes held by such Purchaser. The Warrants are exercisable at any time prior to their expiration of April 23, 2029. As of January 31, 2025, there were 3,034,000 Warrants outstanding.

The Warrants are classified as liabilities under *ASC Topic 480, Distinguishing Liabilities from Equity ("ASC 480")* as the underlying Series A preferred units are contingently redeemable outside of the control of the Company. At any time prior to their expiration, a holder may exercise the Warrants and purchase units of the Series A preferred units, which are contingently redeemable after five years at the option of the holder. Refer to Note 18, *Members' Deficit* for additional information. Additionally, in the event of an acquisition in which holders of the Series A preferred units were to receive consideration in the form of cash, marketable securities, or a combination thereof, the Warrants automatically give their holders the right to receive the same form of consideration. Should the fair market value of the unit exceed the exercise price. The Warrants were initially recorded at fair value, with subsequent changes in fair value recognized in earnings. As of January 31, 2025, the fair value of the warrant liability was $1.1 million. Refer to Note 7, *Fair Value Measurements* for additional information.

In the offering, gross proceeds were allocated first to the Warrants, to the extent of their fair value, and the residual proceeds were assigned to the Notes. Issuance costs were allocated on the same basis as gross proceeds. Amounts related to the Warrants were expensed immediately, while amounts related to the Notes were recorded as a direct deduction from the Senior Secured Notes' carrying amount. The resulting debt discount on the Senior Secured Notes, inclusive of allocated issuance costs and embedded-feature discounts, totaled $6.7 million, and is being amortized to interest expense using the effective interest method over the Senior Secured Notes' contractual term. The proceeds from this offering, net of issuance costs was $60.6 million. The net proceeds were used primarily for acquisitions and general corporate purposes. During the years ended January 31, 2024 and 2025, total interest expense was $0 and $5.3 million, respectively, including $0 and $2.4 million, of coupon interest, respectively; $0 and $1.6 million of PIK Interest, respectively; and $0 and $1.3 million of amortization of debt discounts and issuance costs, respectively.

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***Midwestern Promissory Notes***

On January 3, 2025, the Company issued three promissory notes (the "Midwestern Notes") as partial consideration for its investment in Midwestern Interactive, LLC ("Midwestern"). See Note 5, *Equity Method Investments* for more information on the terms of this acquisition. The Midwestern Notes, which are prepayable at any time by the Company without penalty, consist of (1) a $2.4 million note bearing interest at 4.8%, issued to Mr. Johnson ("Seneca Note"), (2) a $6.5 million note bearing interest at 3.1%, issued to Flourish Holdings, Inc. ("Paden Note"), and (3) a $3.2 million note bearing interest at 5.0%, to Flourish Holdings, Inc. (the "Installment Note"). The Company is required to make monthly principal and interest payments on each of the notes. In the event the notes are not paid upon maturity, the obligations under the Midwestern Notes will automatically bear interest at a rate equal to an additional 5.0% per annum over the rate otherwise applicable. Refer to Note 19, *Related Party Transactions* for additional information.

The Midwestern Notes were recognized based on the proceeds received from issuance. No debt issuance costs were incurred in connection with the issuance of the Midwestern Notes. The notes were subsequently accounted for using the effective interest method. During the year ended January 31, 2025, total interest expense was $40.0 thousand.

As of January 31, 2025, the total estimated fair value of the Midwestern Notes was $8.6 million. The estimated fair value of the notes, which the Company deems Level 2 financial instruments, was determined based on an independent third-party valuation report.

***Visitor Reach Notes***

During the year ended January 31, 2025, the Company's subsidiary, Visitor Reach, entered into a series of subordinated loan agreements totaling $1.0 million (the "Visitor Reach Notes") with related parties and their affiliates, as discussed further in Note 19, *Related Party Transactions*, which are prepayable at any time by the Company without penalty. Each subordinated loan bears interest at a fixed annual rate of 14.0% and matures one year from the effective date of the respective agreement. The loans are unsecured, subordinated to all senior liabilities of Visitor Reach.

The Visitor Reach Notes were recognized based on the proceeds received from issuance. No debt issuance costs were incurred in connection with the issuance of the Visitor Reach Notes. The notes were subsequently accounted for using the effective interest method. During the year ended January 31, 2025, total interest expense was immaterial.

As of January 31, 2025, the carrying amount of the Visitor Reach Notes approximates their fair value due to the short-term nature of the instruments and the use of an interest rate that reflects market terms.

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**16.** **Income Taxes**

The Company is treated as a partnership for U.S. Federal and most applicable state and local income tax purposes. As a partnership, the Company is not subject to U.S. Federal and certain state and local income taxes. Any taxable income or loss generated by the Company is passed through to and included in the taxable income or loss of its members. The Company's wholly owned subsidiary, Outreach, Inc., is subject to U.S. Federal and state and local income taxes.

Income before taxes was as follows:

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| | | |
|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Domestic | $(48258) | $(86018) |
| Foreign |  |  |
| Total income before taxes | $(48258) | $(86018) |

---

The provision (benefit) for income tax comprises:

---

| | | |
|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Current income tax expense: |  |  |
| &nbsp;&nbsp;&nbsp;Federal | $— | $— |
| &nbsp;&nbsp;&nbsp;State |  |  |
| &nbsp;&nbsp;&nbsp;Foreign |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current income tax expense | $— | $— |
| Deferred income tax expense (benefit): |  |  |
| &nbsp;&nbsp;&nbsp;Federal | (81) | (508) |
| &nbsp;&nbsp;&nbsp;State | (25) | (288) |
| &nbsp;&nbsp;&nbsp;Foreign |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deferred income tax expense (benefit) | (106) | (796) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total income tax expense (benefit) | $(106) | $(796) |

---

The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate to income before the provision for income taxes. The sources and effects of the differences are as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2024** | **2025** | **2025** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
| Pre-tax income (loss) | $(48258) |  | $(86018) |  |
| U.S. federal statutory tax rate | (10134) | 21.00% | (18064) | 21.00% |
| Income not subject to corporate tax | 10048 | (20.82)% | 11662 | (13.56)% |
| State and local income taxes, net of federal income tax effect<sup>(1)</sup> | (20) | 0.04% | (98) | 0.11% |
| Effect of changes in tax laws or rates |  | 0.00% | (129) | 0.15% |
| Goodwill impairment outreach |  | 0.00% | 5828 | (6.78)% |
| Nontaxable or nondeductible items |  | 0.00% | 5 | (0.01)% |
| Effective tax rate | $(106) | 0.22% | $(796) | 0.93% |

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(1)State taxes in Colorado made up the majority (greater than 50%) of the tax effect in this category.

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Significant components of the Company's net non-current deferred tax assets and liabilities are as follows:

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| | | |
|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Deferred tax assets |  |  |
| &nbsp;&nbsp;&nbsp;ROU liability | $901 | $825 |
| &nbsp;&nbsp;&nbsp;Sec. 174 capitalized R&D | 358 | 418 |
| &nbsp;&nbsp;&nbsp;Net operating loss carryforward | 37 | 74 |
| &nbsp;&nbsp;&nbsp;Accrued compensation | 50 | 71 |
| &nbsp;&nbsp;&nbsp;Inventory | 193 | 68 |
| &nbsp;&nbsp;&nbsp;Other accruals | 1 | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred tax assets | $1540 | $1470 |
| &nbsp;&nbsp;&nbsp;Less: valuation allowance |  |  |
| Net deferred tax assets | $**1540** | $**1470** |
| Deferred tax liabilities |  |  |
| &nbsp;&nbsp;&nbsp;Intangibles | $(2782) | $(2152) |
| &nbsp;&nbsp;&nbsp;ROU asset | (988) | (840) |
| &nbsp;&nbsp;&nbsp;Property and equipment | (477) | (389) |
| Deferred tax liabilities | $**(4247)** | $**(3381)** |
| Net deferred tax asset (liability) | $**(2707)** | $**(1911)** |

---

As of January 31, 2025, Outreach, Inc. had $0.3 million of federal net operating loss carryforwards, which can be carried forward indefinitely.

As of January 31, 2025, Outreach, Inc. had $0.3 million of state net operating loss carryforwards, which can be carried forward for periods that vary from ten years to indefinitely.

The Company had no unrecorded tax benefit due to uncertain tax positions as of January 31, 2025. As of January 31, 2025, the Company had no accrued interest or penalties related to uncertain tax positions. The Company does not expect a material change in unrecognized tax benefits within the next 12 months.

The Company is no longer subject to new income tax examinations by tax authorities for tax years prior to 2020.

**17.** **Equity-Based Compensation**

***Options***

On December 15, 2014, the Company adopted the Membership Unit Option Plan (the "Plan"), which has been subsequently amended, authorizing the Company to grant options to purchase up to 15,000,000 Common Units to owners, officers, employees, managers, and consultants of the Company or any entity that provides services to the Company by issuing new units. Units subject to unexercised options that are terminated for any reason are available for reissuance. The exercise price, vesting conditions, and all other terms of the options are determined by the board of managers of the Company. The options generally expire 10 years from the date of grant and generally vest 40.0% on the second anniversary of the vesting commencement date and 20.0% on each subsequent anniversary.

The Company may, but is not required to, repurchase any Common Units issued upon exercise of any option at any time following the earlier of (i) termination of employment of the grantee; (ii) the 5th anniversary of the date such Common Units were acquired by such Member; or (iii) the 5th anniversary of the date the option underlying such Units became fully vested, at a purchase price equal to the then fair market value of the Common Units. In addition, all Common Units issued upon exercise of an option are subject to the call option described in Note 18, *Members' Deficit* below.

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The options are equity classified. The fair value of each option on the grant date was estimated using a Black-Scholes option-pricing model. The weighted average estimated grant-date fair value of stock options granted during the years ended January 31, 2024 and 2025 was $1.34 and $1.12 per unit, respectively. The weighted average assumptions used in the Black-Scholes model were as follows:

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| | | |
|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2025** |
| Risk-free rate | 4.2% | 4.4% |
| Dividend yield | 0.0% | 0.0% |
| Expected life (in years)<sup>(1)</sup> | 6.6 | 6 |
| Expected volatility<sup>(2)</sup> | 61.5% | 49.9% |

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(1)Expected life was estimated as the mid-point between the weighted-average vesting period and the contractual life of the option.

(2)Expected volatility was based on historical share price volatility for comparable public companies over a period equal to the expected life of the option.

A summary of the option activity for the years ended January 31, 2024 and 2025 is presented below:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Number of<br>Units** | **Weighted-<br>Average<br>Exercise Price** | **Weighted-<br>Average<br>Remaining<br>Contractual<br>Term (Years)** | **Aggregate<br>Intrinsic<br>Value** |
|  | **(in thousands, except weighted-average exercise price)** | **(in thousands, except weighted-average exercise price)** | **(in thousands, except weighted-average exercise price)** | **(in thousands, except weighted-average exercise price)** |
| Outstanding at February 1, 2023 | 8760 | $2.99 |  | $— |
| &nbsp;&nbsp;&nbsp;Granted | 1821 | 3.75 |  |  |
| &nbsp;&nbsp;&nbsp;Exercised |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Forfeited | (1476) | 3.74 |  |  |
| &nbsp;&nbsp;&nbsp;Expired | (147) | 2.66 |  |  |
| Outstanding at January 31, 2024 | 8958 | $3.02 |  | $— |
| &nbsp;&nbsp;&nbsp;Granted | 2283 | 6.00 |  |  |
| &nbsp;&nbsp;&nbsp;Exercised | (489) | 1.00 |  |  |
| &nbsp;&nbsp;&nbsp;Forfeited | (402) | 3.93 |  |  |
| &nbsp;&nbsp;&nbsp;Expired | (397) | 2.66 |  |  |
| Outstanding at January 31, 2025 | 9953 | $3.78 | 6.6 | $4816 |
| Exercisable at January 31, 2025 | 5424 | $3.08 | 5.0 | $4788 |

---

During the year ended January 31, 2025, the total intrinsic value of options exercised and the cash received from those exercises was $1.2 million and $0.5 million, respectively. The Company recognizes forfeitures as they occur.

During the years ended January 31, 2024 and 2025, the Company modified the terms of certain options generally to extend the exercise period or allow for continued vesting of awards by certain grantees after their service to the Company terminated, impacting 24 existing grantees. The Company recognized incremental compensation expense related to these modifications of immaterial amount during the year ended January 31, 2024, and $0.6 million during the year ended January 31, 2025. The Company capitalized equity-based compensation costs of $0.1 million and $0.2 million during the years ended January 31, 2024 and 2025, respectively.

Total compensation cost related to options, including the incremental modification expense referenced above, was $0.6 million and $1.8 million during the years ended January 31, 2024 and 2025, respectively. As of January 31, 2025, there was approximately $4.0 million of unrecognized equity-based compensation related to unvested options to be expensed over a weighted average period of 3.4 years.

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***Profits Units***

On March 20, 2023, the Company established Gloo Incentives, LLC, a wholly owned subsidiary of Gloo Holdings, LLC, for the purposes of implementing an incentive equity program under which incentive awards ("profits units") may be issued by Gloo Holdings, LLC to Gloo Incentives, LLC with a corresponding award issued by Gloo Incentives, LLC to employees or other individuals providing service to the Company. In addition, Gloo Holdings, LLC may issue profits units directly to the service providers. The authorized number of profits units which may be granted is equal to 7.10% of the total issued and outstanding units of the Company.

Each profits unit is subject to a "hurdle" determined by the board of managers at the date of grant. Profits units share in distributions of the Company in accordance with the distribution hierarchy discussed in Note 18, *Members' Deficit* provided that no amount shall be distributed with respect to profits units unless and until the aggregate amount distributable is equal to the hurdle for such profits units. The hurdle for profits units issued during the years ended January 31, 2024 and 2025 was $3.75 per unit and $2.63 per unit, respectively.

The Company issued 4,315,000 and 6,770,000 profits units during the years ended January 31, 2024 and 2025, respectively. Of these profits units, 3,115,000 profits units vest as follows: 20.00% immediately, 20.00% nine months after the grant date, and 20.00% each anniversary thereafter. All other profits units vest 40.00% on the first vesting date, which ranges from 10 to 22 months after the grant date, with 20.00% vesting each anniversary thereafter. Certain awards provide for accelerated vesting of units upon a change in control or upon termination of the grantee. During the year ended January 31, 2025, 1,246,000 profit units immediately vested upon the termination of a grantee.

Profits units have no expiration date. Grantees retain profits units after employment has terminated subject to the Company's right to repurchase such units at termination at their then fair market value. In addition, all profits units are subject to the call option described in Note 18, *Members' Deficit* below.

Profits units are equity classified with the exception of 3,115,000 units which are liability classified. The liability-classified profits units provide the grantee with the right to require the Company to repurchase all or part of the units at any time following the grantee's termination at a price equal to four times the trailing 12-month EBITDA.

The Company estimated fair value of the profit units on the date of grant, and each reporting period thereafter for liability-classified awards, using a Black-Scholes option-pricing model ("Black Scholes model"). The valuation also considered the value of the profit units in an assumed initial public offering with the offering price estimated using multiples from guideline public companies through a hybrid method that combines the Probability-Weighted Expected Return Method ("PWERM") and the Black Scholes model, depending on the form and timing of an expected future liquidity event. The PWERM is a scenario-based analysis that estimates the value per share of common stock based on the probability-weighted present value of expected future equity values for the profit units, under various possible future liquidity event scenarios, discounted for a lack of marketability. Under the hybrid method, the Black-Scholes model was utilized to determine the fair value of the Company's profit units in other assumed scenarios. The Black-Scholes model requires the Company to make certain estimates and assumptions, including assumptions related to the expected price volatility of the common units, the period during which the options will be outstanding, the rate of return on risk-free investments and the expected dividend yield for the Company's units.

The weighted average assumptions used in the Black-Scholes model were as follows:

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| | | |
|:---|:---|:---|
|  | **2024** | **2025** |
| Risk-free rate | 3.9% | 3.9% |
| Dividend yield | 0.0% | 0.0% |
| Expected life (in years)<sup>(1)</sup> | 2.5 | 5.0 |
| Expected volatility<sup>(2)</sup> | 74.3% | 55.0% |

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(1)Expected life was estimated considering the time to a liquidity event.

(2)Expected volatility was based on historical share price volatility for comparable public companies over a period equal to the expected life of the option, adjusted to account for differences between the Company and the comparable public companies.

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A summary of the nonvested profits units for the years ended January 31, 2024 and 2025 is presented below:

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| | | |
|:---|:---|:---|
|  | **Number<br>of Units** | **Weighted-<br>Average<br>Grant-Date<br>Fair Value<br>(per Unit)** |
|  | **(in thousands)** |  |
| Non-vested at February 1, 2023 |  | $— |
| &nbsp;&nbsp;&nbsp;Granted | 4315 | 0.77 |
| &nbsp;&nbsp;&nbsp;Vested | (1246) | 0.77 |
| &nbsp;&nbsp;&nbsp;Forfeited/Cancelled |  |  |
| Non-vested at January 31, 2024 | 3069 | $0.77 |
| &nbsp;&nbsp;&nbsp;Granted | 6770 | 1.25 |
| &nbsp;&nbsp;&nbsp;Vested | (2229) | 0.77 |
| &nbsp;&nbsp;&nbsp;Forfeited/Cancelled |  |  |
| Non-vested at January 31, 2025 | 7610 | $1.20 |

---

The total fair value of profits units vested during the years ended January 31, 2024, and 2025 was approximately $1.0 million and $1.7 million, respectively.

The Company recognized compensation cost related to profits units of approximately $1.2 million and $1.9 million during the years ended January 31, 2024 and 2025, respectively. As of January 31, 2025, there was approximately $7.9 million of unrecognized compensation cost related to unvested profits units to be expensed over a weighted average period of 3.9 years. No portion of the related cost was capitalized during the year ended January 31, 2025.

***Equity Notes Receivable***

In July 2014, the Company entered into Common Unit Purchase Agreements ("CUP Agreements") with three employees in connection with the issuance of Equity Notes Receivable (see Note 19, *Related Party Transactions*). Under the CUP Agreements, the Company issued 2,709,574 common membership units ("Common Units") at a purchase price of $0.20 per unit. The employees financed their purchases using proceeds from the Equity Notes Receivable, which are non-recourse in nature. For accounting purposes, the Common Units are treated as in-substance stock options.

The Common Units were fully vested and exercisable upon issuance. The Company measured the associated compensation cost at the grant date fair value using the Black-Scholes option pricing model. The resulting compensation expense was recognized immediately, with a corresponding credit to additional paid-in capital ("APIC").

The Equity Notes Receivable have been amended five times to extend their maturity, most recently to December 31, 2026. Because the Common Units are accounted for as in-substance options, each modification was evaluated as an option modification under *ASC Topic 718,Compensation - Stock Compensation ("ASC 718")*. Incremental compensation expense was measured based on the change in fair value at each modification date. The December 31, 2024 modification resulted in additional compensation expense of approximately $20.0 thousand, which was recognized immediately as the awards were fully vested.

The Common Units are not considered outstanding for accounting purposes until the Equity Notes Receivable are settled. As of January 31, 2025, none of the Common Units had been forfeited.

The Company recognized approximately $0 and $20.0 thousand in equity-based compensation expense related to the Common Units during the fiscal years ended January 31, 2024 and 2025, respectively. This expense is included in general and administrative expenses in the consolidated statements of operations. As of January 31, 2025, there was no unrecognized compensation cost related to these awards.

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***VR Call Options***

On December 31, 2024 (the "VR Call Option Grant Date"), the Company entered into the VR Call Options with certain co-founders of Visitor Reach in connection with the Company's acquisition of a majority interest in Visitor Reach. For further details, refer to Note 3, *Variable Interest Entities* and Note 4, *Business Combinations*. The VR Call Options give the holders the right, but not the obligation, to purchase up to 332 Visitor Reach common units from the Company for $1,506 per unit.

The call right becomes exercisable on the third anniversary of the Grant Date and remains outstanding for 12 months thereafter. Exercisability is contingent upon each holder's continuous service to VR through the date of exercise; unexercised options are forfeited upon earlier termination of service. The VR Call Options are accounted for as equity-classified awards under ASC 718 because (1) the options are settled in Visitor Reach equity units, (2) the Company cannot be required to settle the awards in cash or other assets, and (3) the VR Call Options are contingent on the continued employment of the holders.

The awards were measured at grant-date fair value using a Black-Scholes option-pricing model resulting in an aggregate grant-date fair value of $1.6 million. Compensation cost is recognized on a straight-line basis over the three-year requisite-service period with a corresponding credit to additional paid-in capital. No portion of the related cost was capitalized during the year ended January 31, 2025. The weighted average assumptions used in the Black-Scholes model were as follows:

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| | | |
|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2025** |
| Risk-free rate | 0.0% | 4.3% |
| Dividend yield | 0.0% | 0.0% |
| Expected life (in years)<sup>(1)</sup> |  | 4.0 |
| Expected volatility<sup>(2)</sup> | 0.0% | 57.6% |

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(1)Expected life is based on the three-year vesting period and the year-long exercisable term

(2)Expected volatility was derived using the Merton Model for an asset volatility analysis with a four-year lookback

A summary of the option activity for the year ended January 31, 2025, is presented below:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Number<br>of Units** | **Weighted-<br>Average<br>Exercise<br>Price** | **Weighted-<br>Average<br>Contractual<br>Term<br>(Years)** | **Aggregate<br>Intrinsic<br>Value** |
|  | **(in thousands)** |  |  | **(in thousands)** |
| Outstanding at January 31, 2024 |  | $— |  | $— |
| &nbsp;&nbsp;&nbsp;Granted | 332 | $1506 | 4.0 | 1555 |
| &nbsp;&nbsp;&nbsp;Exercised |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Forfeited/Cancelled |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Expired |  |  |  |  |
| Outstanding at January 31, 2025 | 332 | $1506 | 3.9 | $1555 |

---

During the year ended January 31, 2025, the options were not yet exercisable, and therefore the Company did not receive any cash from exercises. The Company recognized $0 and $43,190 in compensation expense related to the VR call options during the years ended January 31, 2024 and 2025, respectively. $1,511,655 of unrecognized compensation expense related to these options remains to be recognized over the requisite service period of three years.

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**18.** **Members' Deficit**

The total number of units of all classes of units for which the Company shall have authority to issue is 39,651,074 Common Units, with no par value and 117,751,845 Series A preferred units, with no par value.

***Common Units***

At January 31, 2024 and January 31, 2025, the Company had 22,739,574 and 24,603,574 Common Units outstanding, respectively. During the year ended January 31, 2025, the Company did not issue any of the Company's Common Units. Each Common Unit carries one vote and ranks junior to all Series A preferred units for dividends and in liquidation. Dividends are payable when, and if, declared by the Board of Managers, but only after the Series A preferred units' cumulative dividends are fully paid and the preferred liquidation preference has been returned. Following satisfaction of those obligations, common warrant holders, then common holders receive "catch-up" distributions intended to equalize cumulative per-unit returns with the Series A preferred units on an as-converted basis; thereafter, all residual distributions are made pro rata to Common Units, treating the Series A preferred units as if converted. Common Units are subject to redemption by the Company following the seventh anniversary of the date the first membership units (Common Units or Series A preferred units) are acquired by the holder (refer to the Series A preferred units below for additional information). In liquidation the Common Units and Series A preferred units on an as-converted basis are entitled to any residual net assets after payment of the liquidation preference and arrears, if any, owed to the Series A preferred units.

***Series A Preferred Units***

At January 31, 2024 and January 31, 2025 there were 108,459,120 and 113,429,956 Series A preferred units outstanding, respectively.

*Issuances*

During the years ended January 31, 2024 and 2025, the Company issued 7,540,949 and 54,168 Series A preferred units for total cash proceeds of $44.7 million and $0.3 million, respectively. The Company incurred $0.5 million of issuance costs during the year ended January 31, 2024. The Company did not incur any issuance costs during the year ended January 31, 2025. Additionally, the Company applied the $18.0 million member advance balance to issue 3,000,000 Series A preferred units during the year ended January 31, 2024, for which there were no issuance costs.

In conjunction with the Company's investment in Midwestern described in Note 5, *Equity Method Investments*, in January 2025, the Company issued 2,083,333 Series A preferred units as consideration, deemed to have a fair value of approximately $8.5 million.

In conjunction with the Visitor Reach Acquisition described in Note 4, *Business Combinations*, in January 2025, the Company issued 833,334 Series A preferred units as consideration, deemed to have a fair value of approximately $3.4 million.

In conjunction with the Church Law & Tax and ChurchSalary Acquisition described in Note 4, *Business Combinations*, in May 2024, the Company issued 666,667 Series A preferred units as consideration, deemed to have a fair value of approximately $4.0 million.

In conjunction with various asset acquisitions the Company conducted during the year ended January 31, 2025, the Company issued an aggregate of 1,333,334 Series A preferred units as consideration, deemed to have a fair value of approximately $6.1 million.

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In conjunction with the Outreach Acquisition described in Note 4, *Business Combinations*, in January 2024, the Company issued 3,333,334 Series A preferred units as consideration, deemed to have a fair value of approximately $20.0 million. A stockholder of the Company entered into a freestanding put option with the sellers to purchase these units at $9.00 per unit during a 12-month period in 2027. The fair value of this put option was deemed to be $11.9 million and was deemed a capital contribution (see Note 19, *Related Party Transactions* for further information).

As described in Note 15, *Debt*, in January 2024, $90.2 million of convertible debt and accrued interest was converted into 20,037,364 Series A preferred units at a conversion price of $4.50 per unit.

The rights, preferences, and privileges of the redeemable convertible preferred units are as follows:

*Conversion Rights*

The Series A preferred units will mandatorily convert upon (1) election by members holding more than fifty percent of the Series A preferred units, voting as a separate class, to convert all Series A preferred units into Common Units or (2) the closing of a qualified IPO that raises at least $50.0 million in gross proceeds (a "Qualified IPO").

*Dividends and Voting*

The Series A preferred units bear a cumulative dividend of 6.00% per annum on their original issue price, which ranges from $1.00 to $6.00. The Company had $51.3 million and $71.6 million in unpaid undeclared cumulative dividends to Series A Preferred Unit holders as of January 31, 2024, and January 31, 2025, respectively, representing approximately $0.47 and $0.63 per Series A Preferred Unit, respectively. Each unit votes together with Common Units on an as-converted basis and, voting separately as a class, on matters adversely affecting its rights.

*Liquidation Rights*

In the event of any liquidation or dissolution of the Company, either voluntary or involuntary, the Series A preferred units rank senior to all other equity classes, each having a liquidation preference of their original issue price plus accrued and unpaid dividends. As of January 31, 2024 and 2025, the Series A preferred units had an aggregate liquidation preference of $382.6 million and $432.7 million, respectively.

*Redemption*

Beginning five years after the original issuance of the units, a holder may require the Company to redeem its Series A preferred units for cash equal to four times trailing-twelve-month EBITDA (the "Redemption Price"), payable in three equal annual installments. Additionally, the Company may call the Series A preferred units at fair market value (the "Call Price") any time following the seventh anniversary of the date the first membership units (Common Units or Series A preferred units) were acquired by the member. This call can be triggered upon a majority vote of the Board, including the affirmative vote of Scott Beck, Gloo Holdings, LLC's CEO (a "Specific Majority Vote") and the affirmative vote of the holders with more than 50.00% of the Series A preferred units and Common Units, which vote includes the affirmative vote of Pearl Street Trust (a "Specific Majority Interest"). As of January 31, 2024, and 2025, the Company had no redemptions. The Company does not have any fixed redemptions in the five years following January 31, 2025.

The Series A preferred units issued and outstanding are accounted for as redeemable units in the mezzanine section on the Company's consolidated balance sheets as the units are redeemable outside of the Company's control. The Company has elected to adjust the carrying value of the redeemable Series A preferred units to its maximum redemption value at each reporting date, with the value being the greater of the initial cost of the units or its redemption value. As of January 31, 2025, the redemption value of the Series A preferred units was less than the carrying value.

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**19.** **Related Party Transactions**

The Company has entered into a number of transactions with entities affiliated with members of its board of directors and other related parties, as described below.

*Visitor Reach Notes*

As discussed in Note 15, *Debt*, in May through September 2024, the Company's subsidiary, Visitor Reach, entered into a series of subordinated loan agreements totaling $1.0 million (the "Visitor Reach Notes") with related parties and their affiliates, including Howard Rachinski, the subsidiary's chief executive officer. Each subordinated loan bears interest at a fixed annual rate of 14.0% and matures one year from the effective date of the respective agreement.

*Midwestern Notes*

As discussed in Note 5, *Equity Method Investment*, and Note 15, *Debt*, on January 3, 2025, the Company issued the Midwestern Notes as partial consideration for its acquisition of Midwestern. The Midwestern Notes, which are prepayable at any time by the Company without penalty, consist of (1) a $2.4 million note bearing interest at 4.8%, issued to Mr. Johnson, (2) a $6.5 million note bearing interest at 3.1%, issued to Flourish Holdings, Inc., and (3) a $3.2 million note bearing interest at 5.0%, to Flourish Holdings, Inc. Mr. Johnson is the chief executive officer of Midwestern, of which the Company holds an equity method investment, and is the sole owner of Flourish Holdings, Inc.

*Equity Notes Receivable*

In July 2014, the Company issued Promissory Notes (the "Equity Notes Receivable") totaling approximately $0.5 million to three employees. The notes bear interest at 3.00% per annum, compounded annually. Proceeds from the notes were used in full to purchase 2,709,574 Common Units of the Company. The notes are secured by the underlying Common Units and require full repayment of principal and accrued interest by the executive officers.

The Equity Notes Receivable initially matured on July 1, 2019. Since issuance, the notes have been amended five times, primarily to extend their maturity date, with their maturity date being December 31, 2026.

Upon evaluation, the Company concluded that the notes represented non-recourse notes in substance and should be accounted for as such. Accordingly, neither the principal balance nor the related accrued interest is reflected on the Company's consolidated balance sheets. For further details regarding the equity-based compensation associated with these transactions, refer to Note 17, *Equity-Based Compensation*.

*Member Advances*

During the year ended January 31, 2024, the Company received advances (the "Member Advances") totaling approximately $14.8 million from Pearl Street Trust to address short-term working capital needs. The Member Advances were not subject to any contractual repayment obligation, whether in cash, equity, or other form, and were provided without any stated terms or conditions requiring repayment by the Company. On December 19, 2023, $18.0 million of Member Advances were applied to issue 3,000,000 units of the Company's Series A preferred units, which were issued to Pearl Street Trust for no additional consideration. Refer to Note 18, *Members' Deficit* for additional information.

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*Series A Preferred Unit Issuances*

On December 8, 2023, the Company issued 3,208,334 Series A preferred units to entities affiliated with members of its board of directors or executive management for aggregate consideration of $19.25 million, as part of a broader equity financing. The issuances were as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Pearl Street Trust purchased 3,000,000 units for $18.0 million. Scott Beck, the Company's Chief Executive Officer and a director, serves as trustee of Pearl Street Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•JAJO Partners, LP purchased 166,667 units for $1.0 million. Jack Furst, a Company director, is the chief executive officer, president and treasurer of JAJO LLC, the general partner of JAJO Partners, LP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Patrick P. Gelsinger Revocable Trust UAD 11/7/2000 purchased 41,667 units for $250,002. Patrick Gelsinger, the Company's Head of Technology and a director, is the trustee.

These issuances were part of a broader offering totaling 9,126,116 Series A preferred units for gross proceeds of approximately $54.76 million (the "2023 Financing").

In connection with the 2023 Financing, Mr. Beck and Pearl Street Trust jointly and severally entered into put agreements with several third-party investors (the "2023 Put Agreements"), including Compassion International, Inc.; GuideStone Financial Resources of the Southern Baptist Convention; Paul and Amaryah Lanum; RightNow Ministries International; Trinity FFV Alternative Income Fund, LP; and WC Gloo Fund, LLC.

Under these agreements, Mr. Beck and Pearl Street Trust agreed to repurchase the purchasers' Series A preferred units at $6.00 per unit, upon demand at any time from the first to the fourth anniversary of the agreement's effective date. The Company was a party to these purchase agreements solely to represent and warrant that the put agreements were authorized under its operating agreement.

On December 19, 2023, Pearl Street Trust granted WC Gloo Fund a mortgage on real property it owns to secure its obligations under WC Gloo Fund's put agreement.

On December 20, 2024, Scott Beck executed personal guaranty agreements with RightNow Ministries International, WC Gloo Fund, and Compassion International, agreeing to satisfy any obligations under exercised put options.

*Series A Preferred Units Issued in Connection with Acquisitions and Related Transactions*

As described in Note 4, *Business Combinations*, on January 2, 2024, the Company acquired all outstanding equity interests of Outreach from the Evans Revocable Living Trust and the Evans Family Charitable Trust for total upfront consideration of $53.0 million, consisting of $19.7 million in cash and 3,333,334 Series A preferred units of Gloo Holdings, LLC. The transaction also provides for the potential payment of additional earn-out consideration.

On the same date, Mr. Beck and Pearl Street Trust entered into a put option agreement with the selling trusts (the "Outreach Put Agreement") pursuant to which Mr. Beck and Pearl Street Trust jointly and severally agreed to purchase, upon demand, the Series A preferred units issued in the transaction at a price of $9.00 per unit. The put option is exercisable during a 12-month window beginning January 2, 2027. Concurrently, Mr. Beck and Pearl Street Trust entered into a guaranty agreement with the selling trusts, pursuant to which they jointly and severally guaranteed payment under the Outreach Put Agreement within ten business days of any demand made under the agreement.

As described in Note 4, *Business Combinations*, on April 29, 2024, the Company acquired certain assets of Christianity Today International for total consideration of $6.2 million, comprised of $1.4 million in cash and 666,667 Series A preferred units of Gloo Holdings, LLC. Two members of the Company's board of directors, Nona Jones and Bishop Claude Alexander, serve on the board of directors of Christianity Today but received no consideration in connection with the transaction.

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In connection with the acquisition, on April 29, 2024, Mr. Beck and Pearl Street Trust entered into a put option agreement with Christianity Today International. Under this agreement, Mr. Beck and Pearl Street Trust jointly and severally agreed to purchase, upon demand, the Series A preferred units issued in the transaction at a price of $6.00 per unit. The option is exercisable during a 12-month period beginning May 1, 2027.

On August 1, 2024, Gloo Technologies, LLC, a wholly-owned subsidiary of the Company, acquired the Church Metrics platform from Life Covenant Church, Inc. for total consideration of $2,500,002, paid entirely in the form of 416,667 Series A preferred units of Gloo Holdings, LLC. Robert Gruenewald, a member of the Company's board of directors, also serves as a board member and vice president of Life Covenant Church.

In connection with the acquisition, Mr. Beck and Pearl Street Trust entered into a put option agreement with Life Covenant Church on August 1, 2024. Under the agreement, Pearl Street Trust and Scott Beck jointly and severally agreed to purchase, upon demand, the Series A preferred units issued in the transaction at a price of $6.00 per unit. The option is exercisable during a 12-month window beginning July 1, 2027, but may be accelerated upon a Qualified IPO resulting in proceeds of at least $50 million and a trading price of at least $15.00 per share of the Company's Class A common stock for 60 consecutive days.

On September 27, 2024, the Company acquired substantially all assets of InspireHub in exchange for 1,375,000 common units of Gloo Holdings, LLC, representing total consideration of $3,616,250. Jack Furst was a director of InspireHub.

*Convertible Note Issuances*

As described in Note 15, *Debt*, on September 1, 2021, the Company entered into a series of convertible note purchase agreements with various investors, including certain related parties, pursuant to which the Company issued Convertible Notes with an aggregate principal amount of $83.6 million. These Convertible Notes were automatically converted into an aggregate of 20,037,364 Series A preferred units of Gloo Holdings, LLC on January 2, 2024.

Related-party investors included the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•*Pearl Street Trust*: The Company issued convertible notes with an aggregate principal amount of $2.7 million to Pearl Street Trust, which converted into 664,854 Series A preferred units on January 2, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•*Oak Stream Investors III, LTD.*: The Company issued a $1.0 million convertible note to Oak Stream Investors III, LTD., which converted into 234,105 Series A preferred units. Jack Furst, who is the chairman of the board of Oak Stream Ranch, Inc. (the general partner of Oak Stream Investors III, LTD.), is considered a related party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•*DLF Family Trust*: The Company issued a $1.0 million convertible note to DLF Family Trust, which converted into 249,136 Series A preferred units. Mr. Furst is the trustee of the DLF Family Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•*Patrick P. Gelsinger Revocable Trust UAD 11/7/2000*: The Company issued a $1.0 million convertible note to the trust, which converted into 246,574 Series A preferred units.

In connection with the Convertible Note issuances, Mr. Beck entered into a personal guaranty agreement dated September 1, 2021 (as amended and restated on January 14, 2022), whereby he agreed to guarantee repayment of the outstanding balances of all such Convertible Notes. The guaranty was effective in the event that the notes were not either converted into equity securities of the Company or fully repaid by their respective maturity dates.

In connection with the Convertible Note issuance to one of the investors, Mr. Beck entered into a put option agreement on August 23, 2022. Under the agreement, in the event the Convertible Notes converted into Series A Preferred Units prior to the maturity date, Mr. Beck or one of his affiliate may have been required to purchase, upon demand, the Series A preferred units issued following such conversion at a price of $4.50 per unit. The option was exercisable from January 2, 2024 until December 31, 2024.

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*Senior Secured Notes and Warrant Issuances*

As described in Note 15, *Debt*, on April 23, 2024, the Company entered into a Note Purchase Agreement with Pearl Street Trust and certain other purchasers, under which it issued Senior Secured Notes totaling $45.0 million to Pearl Street Trust across multiple tranches, each bearing interest at 8% plus a floating SOFR-based margin, with a floor of 1%, and maturing in April 2027. In connection with these issuances, the Company granted Warrants to purchase an aggregate of 2,250,000 Gloo Holdings, LLC common units at an exercise price of $6.00 per unit.

On April 24, 2024, the Company issued a $10.0 million Senior Secured Note under the Note Purchase Agreement to FMAB Partners, LP ("FMAB"), an entity affiliated with Mr. Furst, who also served as collateral agent under the security agreement associated with the Note Purchase Agreement. In connection with the FMAB note, the Company issued a warrant to purchase 500,000 common units at $6.00 per unit.

On the same date as the FMAB note issuance, Pearl Street Trust and Scott Beck jointly and severally guaranteed repayment of the FMAB note under a guaranty agreement, enforceable upon demand if a defined Event of Default remains uncured for at least 90 days.

*Leases*

The Company entered into two operating leases for the occupancy of office space in two separate building complexes in Boulder, Colorado, with an entity that is controlled by a member of management. The Company has evaluated the relationship with these related parties and concluded that the related party is not a variable interest entity because the Company has no direct ownership interest or relationship with the related party other than the leases. The leases both commenced on January 1, 2023, both having a term of three years with two three-year extension options. Upon the commencement of each extension term, the base rent shall be adjusted to reflect any percentage increase in the Consumer Price Index since the preceding reference index date. Following each such extension, the number of remaining extension terms shall be reduced accordingly, or eliminated if none remain. On both properties, the Company pays rent, real estate taxes, insurance, and operating expenses related to maintenance and operating costs that arise from the use of the property.

On January 2, 2024, the Company acquired 100% of the equity ownership of Outreach Media, Inc. As part of this transaction, the Company acquired two operating leases for the occupancy of office and warehouse spaces in Colorado Springs, Colorado, each with entities controlled by a member of the subsidiary's management. The Company has evaluated the relationship with these related parties and concluded that the related party is not a variable interest entity because the Company has no direct ownership interest or relationship with the related party other than the leases. The leases both commenced on January 2, 2024, both having a term of seven years with no extension options. On one of the properties, the Company pays operating expenses related to maintenance and operating costs that arise from the use of the property. Additionally, the Company recognized an asset on both of the leases related to the fair value of the below-market component included in the acquired leases.

The Company has determined that the leases are both operating leases. Operating lease cost related to these leases recognized for the years ended January 31, 2024, and 2025 was $0.3 million and $1.0 million, respectively. The operating lease cost was allocated to General and administrative in the consolidated statements of operations. The Operating lease right-of-use assets as of January 31, 2024, and 2025 were $4.2 million and $3.6 million, respectively, in the consolidated balance sheets. These balances included assets recognized for the below-market component of the acquired operating leases of $0.4 million and $0.3 million, respectively. The current and long-term portions of the lease liabilities as of January 31, 2025, were $0.5 million and $3.1 million, respectively, and were recognized in within the current and non-current the lease liability in the consolidated balance sheets. The current and long-term portions of the lease liabilities as of January 31, 2024, were $0.4 million and $3.5 million, respectively, and were recognized in within the current and non-current the lease liability in the consolidated balance sheets.

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*Revenue and Revenue-Sharing Arrangements* 

In addition, the Company entered into a revenue-sharing agreement with one of its equity method investees. Under this agreement, the Company provides sales support services, marketing and other services to the end-customer. During the fiscal years ended January 31, 2024 and 2025 the Company generated revenues under this agreement of $0.5 million and $1.4 million, respectively.

*Vendor Agreements* 

During the fiscal years ended January 31, 2024 and 2025, the Company incurred expenses of $0.6 million and $0.4 million, respectively, in connection with strategic and executive consulting services provided under vendor agreements with a related party. These services were rendered by an entity that is controlled by the chief executive officer of the Company.

*Other Transactions* 

During the fiscal years ended January 31, 2024 and 2025, the Company obtained salary reimbursements of $147 thousand and $122 thousand, respectively. These reimbursements were related to the salary of a Company employee who was rendering services to an entity controlled by the chief executive officer of the Company.

**20.** **Net Loss Per Unit Attributable to Common Members**

The following table sets forth the computation of basic and diluted net loss per unit attributable to common members:

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| | | |
|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands, except unit and per unit data)** | **(in thousands, except unit and per unit data)** |
| Numerator: |  |  |
| &nbsp;&nbsp;&nbsp;Net loss | $(48313) | $(85689) |
| &nbsp;&nbsp;&nbsp;Less: Undeclared cumulative dividends on Series A Preferred Units | 10414 | 20264 |
| &nbsp;&nbsp;&nbsp;Less: Deemed dividend for conversion of Member Advance | 18000 |  |
| &nbsp;&nbsp;&nbsp;Net loss attributable to common members, basic and diluted | (76727) | (105953) |
| Denominator: |  |  |
| &nbsp;&nbsp;&nbsp;Weighted average number of common units outstanding, basic and diluted | 22739574 | 23293429 |
| Net loss per unit attributable to common members, basic and diluted | $(3.37) | $(4.55) |

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The following potentially dilutive outstanding securities were excluded from the computation of diluted income (loss) per unit attributable to common members because their effect was anti-dilutive:

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| | | |
|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2025** |
| Options | 8958417 | 9953872 |
| Warrants |  | 3034000 |
| Series A Preferred Units | 108459120 | 113429956 |
| Total | 117417537 | 126417828 |

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**21.** **Segment Reporting**

The Company operates as a single operating segment, the Gloo segment, consistent with how its CODM, Co-Founder and CEO, Scott Beck, reviews financial information and allocates resources. The Company primarily derives its revenue within the United States by providing a breadth of products, services and solutions to the faith-based ecosystem.

The CODM uses revenue, operating expenses, and net loss as reported in our consolidated statements of operations to identify underlying trends in the performance of our business, make comparisons with the financial performance of our competitors, and determine how to allocate resources of the Company as a whole. The CODM does not review assets in evaluating the results of the Gloo segment, and therefore, such information is not repeated in this disclosure.

The following table presents the significant expenses and other segment items of the Gloo segment, as regularly reviewed by our CODM:

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| | | |
|:---|:---|:---|
|  | **Year Ended January 31,** | **Year Ended January 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Revenue | $21289 | $23216 |
| Less: |  |  |
| &nbsp;&nbsp;Cost of revenue | 6471 | 19749 |
| &nbsp;&nbsp;Depreciation and amortization | 4685 | 7714 |
| &nbsp;&nbsp;Hosting and software | 2121 | 2830 |
| &nbsp;&nbsp;Insurance | 157 | 185 |
| &nbsp;&nbsp;Maintenance and equipment | 193 | 290 |
| &nbsp;&nbsp;Outside services | 10218 | 4151 |
| &nbsp;&nbsp;Payroll and benefits | 27240 | 31842 |
| &nbsp;&nbsp;Professional services | 3029 | 2302 |
| &nbsp;&nbsp;Rent and utilities | 1618 | 1523 |
| &nbsp;&nbsp;Advertising and marketing | 4028 | 5201 |
| &nbsp;&nbsp;Travel and entertainment | 2450 | 1349 |
| &nbsp;&nbsp;Impairment of goodwill |  | 27753 |
| &nbsp;&nbsp;Other operating expenses | 3587 | 1556 |
| &nbsp;&nbsp;Other segment expense <sup>(1)</sup> | 3805 | 2573 |
| &nbsp;&nbsp;&nbsp;Net loss | $(48313) | $(85802) |

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(1)Other segment items primarily include interest expense; other income (expense), net; and income tax (expense) benefit as reported in our consolidated statements of operations.

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**22.** **Subsequent Events**

The Company has identified the following subsequent events:

*Acquisitions*

On February 18, 2025, the Company acquired all outstanding shares of Carey Nieuwhof Communications Limited ("CNCL"), a Canadian-based digital content creation company that produces faith-based content. CNCL provides on demand subscriptions, preaching, and growth that enhances the Company's Gloo Workspace. Consideration for the purchase was approximately $7.1 million issued in cash and equity in the Company, pending final valuation reports and subject to a net working capital adjustment. The Company expects to complete the preliminary purchase price allocations relating to this transaction in the third quarter of fiscal year 2025.

On February 18, 2025 the Company entered into a membership interest purchase agreement to acquire a 49.00% equity interest in Barna Holdings, LLC ("Barna"), a faith-oriented research firm that the Company had previously commissioned for research endeavors with the goal of equipping ministry leaders and their communities with regular research findings and measurement tools to better advance human flourishing and church thriving. Consideration for the purchase was approximately $4.9 million, pending final valuation reports and subject to a net working capital adjustment. The Company expects to complete the preliminary purchase price allocations relating to this transaction in the second quarter of fiscal year 2025.

As of January 31, 2025, the Company held a 5% equity interest in Servus Consulting Partners, LLC ("Servant"). On March 12, 2025, the Company acquired an additional 45.1% interest in Servant for an estimated purchase price of $5.6 million, providing the Company with a controlling interest and representing an acquisition in accordance with ASC 805 (the "Servant Acquisition"). Servant is a business and technology consulting firm that specializes in supporting faith-driven organizations, not-for-profit organizations, and purpose-driven businesses, strengthening the Company's commitment to serve the faith ecosystem by bolstering its technology, resource, and service offerings. The Company expects to complete the preliminary purchase price allocations relating to this transaction in the third quarter of fiscal year 2025.

On June 11, 2025, the Company entered into an amended and restated call option agreement with Flourish Holdings, Inc, the minority interest holder of Midwestern (the "Amended MW Call Option"). Under the amendment, the terms of the original MW Call Option were amended to allow NewCo to repurchase exactly 6,012 of the Company-owned Midwestern units so that, if exercised, the Company would retain approximately a 20% membership interest in the Midwestern. Additionally, the Amended MW Call Option revised the payment terms upon exercise, establishing a fixed per-unit valuation that is payable through exchange of the following, required to be in this order: (1) Gloo Units received by NewCo as part of the Acquisition (deemed to have a value of $6.00 per unit), (2) the forgiveness of the then unpaid balance of the note issuances consummated as part of the original transaction, in any order or combination, and (3) cash, if any portion of the call price remains unpaid after applying the foregoing. In connection with this amendment, the Company is currently reassessing its existing consolidation conclusion.

On July 3, 2025, the Company entered into a securities purchase agreement to acquire all outstanding shares of Masterworks, Inc., a digital fundraising and engagement platform company that serves mission-driven organizations and churches. The Company believes Masterworks will be a foundational part of the Gloo Media Network as it brings a deep technology stack and expertise in donor engagement, creative development, digital marketing and direct mailing. Consideration for the purchase was approximately $11.8 million, pending final valuation reports and subject to a net working capital adjustment. The Company expects to complete the preliminary purchase price allocations relating to this transaction in the third quarter of fiscal year 2025.

The Company expects to complete one or more subsequent closings pursuant to its Amended NPA (as defined below) beginning on or after July 1, 2025, to admit additional purchasers, as well as to issue an Amended Note in respect of Pearl Street Trust's existing Member Advance. All Notes issued in future closings will bear the same economic terms as the Amended Notes described below.

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*Amended and Restated Note Purchase Agreement*

On June 23, 2025, the Company amended the terms of its Senior Secured Notes and Warrants under the terms of an amended and restated note purchase agreement (the "Amended NPA") and provided Purchasers with the option to exchange their existing Senior Secured Notes for senior secured convertible notes under the Amended NPA (the "Senior Secured Convertible Notes"). Under the Amended NPA, the terms of the Senior Secured Convertible Notes were amended to (1) increase the aggregate principal capacity to $130.0 million dollars, (2) revise certain default covenants, (3) introduce a new mandatory conversion feature that will automatically convert the Notes into common stock at the per share conversion price equal to the lesser of (i) 80% of the public offering price upon a qualified IPO and (ii) $30.00, and (iii) eliminate the warrant feature for all Senior Secured Notes and Warrants holders that enter into the new form of the Senior Secured Convertible Notes following the modification, while allowing holders that elected to not participate in the Senior Secured Convertible Notes to maintain their warrants, unaffected by the discount clause. The remaining terms of the Senior Secured Convertible Notes will remain substantially unchanged from the initial Senior Secured Notes.

At the initial closing under the Amended NPA, all but two existing note holders, with an aggregate balance of $12.0 million, exchanged their existing Senior Secured Notes for new Senior Secured Convertible Notes that reflect the terms above. Each Senior Secured Convertible Note states a principal amount equal to the holder's original funded principal plus accrued PIK Interest through June 23, 2025. The Senior Secured Convertible Notes bear interest at a variable rate equal to the higher of 1-Month SOFR or 1%, plus 8.0% per annum. Interest is payable quarterly in arrears, comprising 8.0% cash interest and the remainder as PIK Interest. In connection with the Amendment, the Company entered into a new personal guaranty from Pearl Street Trust in favor of the holders of the Senior Secured Convertible Notes.

Through various closings on or around July 1, 2025, the Company issued an additional $40.6 million of Senior Secured Convertible Notes to multiple investors under the Amended NPA. In connection with three of the issuances, the Company's chief executive officer and principal stockholder entered into a put option agreement with the investors, granting the investors the right, but not the obligation, to cause the chief executive officer to purchase all of their Senior Secured Convertible Notes or all, but not less than all, of any equity securities the Senior Secured Convertible Notes have been converted into at the time of exercise, in exchange for payment in cash of the Senior Secured Convertible Note balance prior to conversion during a two month window beginning in February 2026. The Company is not a party to the agreement and has no obligation to settle the put options.

*Other Transactions*

On February 1, 2025, the Company entered into a services agreement pursuant to which a related party will provide strategic consulting and advisory services in exchange for an option to purchase 333,333 common units of Gloo Holdings, LLC at an exercise price of $6.00 per unit. The units subject to the option vest in equal monthly installments over a four-year period, contingent upon the continued provision of services. The services are being provided by an entity wholly owned and controlled by Mr. Gruenewald.

On February 1, 2025, the Company entered into a services agreement pursuant to which a related party will provide strategic consulting and advisory services in exchange for an option to purchase 333,333 common units of Gloo Holdings, LLC at an exercise price of $6.00 per unit. The units subject to the option vest in equal monthly installments over the course of four years, subject to the continued provision of services. The services are being provided by an entity in which Mr. Gruenewald is a director and officer.

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**Gloo Holdings, LLC**

**Condensed Consolidated Balance Sheets**

(unaudited)

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| | | |
|:---|:---|:---|
|  | **January 31,** | **July 31,** |
|  | **2025** | **2025** |
|  | **(in thousands, except unit data)** | **(in thousands, except unit data)** |
| **ASSETS** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;Cash and cash equivalents | $13592 | $22589 |
| &nbsp;&nbsp;Restricted cash | 252 | 254 |
| &nbsp;&nbsp;Accounts receivable, net of allowance for credit losses of $68 and $33, respectively<sup>(1)</sup> | 623 | 6050 |
| &nbsp;&nbsp;Inventory, net | 1460 | 1248 |
| &nbsp;&nbsp;Contract assets |  | 3098 |
| &nbsp;&nbsp;Prepaid expenses and other current assets | 2388 | 6582 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 18315 | 39821 |
| Property and equipment, net | 2303 | 2634 |
| Capitalized software, net | 23578 | 26717 |
| ROU operating lease asset <sup>(2)</sup> | 3835 | 6834 |
| Long-term investments | 33252 | 1181 |
| Other non-current assets | 209 | 1381 |
| Intangible assets, net | 11431 | 26951 |
| Goodwill | 27901 | 80278 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $120824 | $185797 |
| **LIABILITIES, MEZZANINE EQUITY, AND MEMBERS' DEFICIT** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;Accounts payable <sup>(3)</sup> | $3613 | $8279 |
| &nbsp;&nbsp;Accrued compensation | 4538 | 6181 |
| &nbsp;&nbsp;Accrued liabilities | 3521 | 6402 |
| &nbsp;&nbsp;Acquisition-related liabilities, current | 1350 | 2522 |
| &nbsp;&nbsp;Deferred revenue | 3725 | 5622 |
| &nbsp;&nbsp;Debt, current <sup>(4)</sup> | 3177 | 5011 |
| &nbsp;&nbsp;Lease liabilities, current <sup>(5)</sup> | 685 | 1187 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 20609 | 35204 |
| Acquisition-related liabilities, non-current | 100 | 708 |
| Debt, non-current <sup>(6)</sup> | 66959 | 125488 |
| Lease liabilities, non-current <sup>(7)</sup> | 3095 | 5609 |
| Derivative liability <sup>(8)</sup> | 832 | 23410 |
| Deferred income taxes | 1911 | 2675 |
| Other non-current liabilities | 13426 | 11502 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | $106932 | $204596 |
| Commitment and Contingencies (See Note 12) |  |  |
| Mezzanine Equity: |  |  |
| &nbsp;&nbsp;Series A Preferred Units (no par value; 117,751,845 and 117,751,845 authorized as of January 31,<br>2025 and July, 31 2025, respectively; 113,429,956 and 115,368,634 units issued and outstanding as of January 31, 2025 and July 31, 2025, respectively; and aggregate liquidation preference of $432,669 and $459,672 as of January 31, 2025 and July 31, 2025, respectively) | 351887 | 360063 |
| &nbsp;&nbsp;Redeemable NCI |  | 3383 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total mezzanine equity | 351887 | 363446 |
| Members' Deficit: |  |  |
| &nbsp;&nbsp;Common member units (no par value; 39,651,074 and 39,667,849 units authorized as of January 31, 2025 and July 31, 2025, respectively; and 24,603,574 and 24,651,074 units issued and outstanding as of January 31, 2025 and July 31, 2025, respectively) |  |  |
| &nbsp;&nbsp;Additional paid-in capital | 23591 | 36134 |
| &nbsp;&nbsp;Accumulated deficit | (368312) | (438063) |
| &nbsp;&nbsp;Accumulated other comprehensive income |  | 262 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deficit attributable to common members | (344721) | (401667) |
| Equity attributable to noncontrolling interests | 6726 | 19422 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total members' deficit | (337995) | (382245) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities, mezzanine equity, and members' deficit | $120824 | $185797 |

---

------

(1)Includes related party accounts receivable of $0.2 million and $0.3 million as of January 31, 2025, and as of July 31, 2025, respectively.

(2)Includes related party leases of $0.2 million and $4.7 million as of January 31, 2025, and as of July 31, 2025, respectively.

(3)Includes related party accounts payable of $0.6 million and $— as of January 31, 2025, and as of July 31, 2025, respectively.

(4)Includes current debt from related parties of $1.0 million and $1.3 million as of January 31, 2025, and as of July 31, 2025, respectively.

(5)Includes related party leases of $0.2 million and $0.7 million as of January 31, 2025, and as of July 31, 2025, respectively.

(6)Includes non-current debt from related parties of $56.2 million and $110.4 million as of January 31, 2025, and as of July 31, 2025, respectively.

(7)Includes related party leases of $— million and $4.0 million as of January 31, 2025, and as of July 31, 2025, respectively.

(8)Includes the derivative liability associated with non-current debt from related parties of $0.8 million and $21.7 million as of January 31, 2025, and as of July 31, 2025.

*The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.*

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**Gloo Holdings, LLC**

# Condensed Consolidated S tatements of Operations
(unaudited)

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended July 31,** | **Six Months Ended July 31,** |
|  | **2024** | **2025** |
|  | **(in thousands, except unit and per unit data)** | **(in thousands, except unit and per unit data)** |
| Revenue <sup>(8)</sup>: |  |  |
| &nbsp;&nbsp;Platform revenue | $10463 | $17241 |
| &nbsp;&nbsp;Platform solutions revenue | 121 | 11234 |
| &nbsp;&nbsp;Other revenue | 13 |  |
| &nbsp;&nbsp;&nbsp;Total revenue | 10597 | 28475 |
| Operating expenses: |  |  |
| &nbsp;&nbsp;Cost of revenue (exclusive of depreciation and amortization) | 9394 | 20968 |
| &nbsp;&nbsp;Product development <sup>(9)</sup> | 6105 | 10730 |
| &nbsp;&nbsp;Sales and marketing | 10824 | 15823 |
| &nbsp;&nbsp;General and administrative | 7535 | 22206 |
| &nbsp;&nbsp;Depreciation and amortization | 3611 | 5200 |
| &nbsp;&nbsp;&nbsp;Total operating expenses | 37469 | 74927 |
| Operating loss | (26872) | (46452) |
| Other expense (income): |  |  |
| &nbsp;&nbsp;Interest expense <sup>(10)</sup> | 1075 | 6003 |
| &nbsp;&nbsp;Other expense (income), net | (194) | (473) |
| &nbsp;&nbsp;Loss (gain) from change in fair value of financial instruments | (220) | 11436 |
| &nbsp;&nbsp;Loss on extinguishment of debt |  | 7473 |
| &nbsp;&nbsp;&nbsp;Total other expense (income), net | 661 | 24439 |
| Net loss before income taxes | (27533) | (70891) |
| &nbsp;&nbsp;Income tax (expense) benefit | 412 | 293 |
| &nbsp;&nbsp;Income (loss) from equity method investments, net | (273) | (460) |
| Net loss | (27394) | (71058) |
| &nbsp;&nbsp;Less: net loss attributable to noncontrolling interests |  | (1307) |
| Net loss attributable to common members | $(27394) | $(69751) |
| Net loss per unit attributable to common members, basic and diluted | $(1.64) | $(3.47) |
| Weighted-average common units used to compute net loss per unit<br> attributable to common members, basic and diluted | 22739574 | 24650701 |

---

------

(8)Includes revenues from related parties of $0.3 million and $1.9 million for the six months ended July 31, 2024 and 2025, respectively.

(9)Includes product development costs from related parties of $0.8 million and $2.1 million for six months ended July 31, 2024 and 2025, respectively.

(10)Includes net charges from related parties of $1.0 million and $5.3 million for the six months ended July 31, 2024 and 2025, respectively.

*The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.*

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**Gloo Holdings, LLC**

# Condensed Consolidated Statements of Comprehensive Loss
(unaudited)

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended July 31,** | **Six Months Ended July 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Net loss | $(27394) | $(71058) |
| &nbsp;&nbsp;Other comprehensive income (loss): |  |  |
| &nbsp;&nbsp;Foreign currency translation adjustments |  | 262 |
| Comprehensive loss | (27394) | (70796) |
| &nbsp;&nbsp;Less: comprehensive income (loss) attributable to noncontrolling interests |  | (1307) |
| Comprehensive loss attributable to common members | $(27394) | $(69489) |

---

*The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.*

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**Gloo Holdings, LLC**

# Condensed Consolidated Statements of M ezzanine Equity and Members' Deficit
(unaudited)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Mezzanine Equity** | **Mezzanine Equity** | **Mezzanine Equity** | **Members' Deficit** | **Members' Deficit** | **Members' Deficit** | **Members' Deficit** | **Members' Deficit** | **Members' Deficit** |  |
|  | **Series A Preferred Units** | **Series A Preferred Units** |  | **Common Units** | **Common Units** |  |  |  |  |  |
| *(in thousands, except unit data)* | **Units** | **Amount** | **Noncontrolling<br>Interests** | **Units** | **Amount** | **Additional<br>Paid-in<br>Capital** | **Accumulated Other Comprehensive Income** | **Accumulated<br>Deficit** | **Noncontrolling<br>Interests** | **Total<br>Members'<br>Deficit** |
| **Balance as of January 31, 2024** | 108459120 | $332944 | $— | 22739574 | $— | $14949 | $— | $(282623) | $— | $(267674) |
| Issuance of Series A Preferred Units<br> in connection with acquisitions<br> and investments | 666667 | 4000 |  |  |  | 850 |  |  |  | 850 |
| Issuance of Series A Preferred Units | 54168 | 325 |  |  |  |  |  |  |  |  |
| Equity-based compensation |  |  |  |  |  | 1432 |  |  |  | 1432 |
| Net loss attributable to common<br> members |  |  |  |  |  |  |  | (27164) |  | (27164) |
| **Balance as of July 31, 2024** | 109179955 | $337269 | $— | 22739574 | $— | $17231 | $— | $(309787) | $— | $(292556) |
|  | **Mezzanine Equity** | **Mezzanine Equity** | **Mezzanine Equity** | **Members' Deficit** | **Members' Deficit** | **Members' Deficit** | **Members' Deficit** | **Members' Deficit** | **Members' Deficit** |  |
|  | **Series A Preferred Units** | **Series A Preferred Units** |  | **Common Units** | **Common Units** |  |  |  |  |  |
| *(in thousands, except unit data)* | **Units** | **Amount** | **Noncontrolling<br>Interests** | **Units** | **Amount** | **Additional<br>Paid-in<br>Capital** | **Accumulated Other Comprehensive Income** | **Accumulated<br>Deficit** | **Noncontrolling<br>Interests** | **Total<br>Members'<br>Deficit** |
| **Balance as of January 31, 2025** | 113429956 | $351887 | $— | 24603574 | $— | $23591 | $— | $(368312) | $6726 | $(337995) |
| Issuance of Series A Preferred Units in connection with acquisitions and investments | 1901850 | 7955 |  |  |  | 2503 |  |  | 13626 | 16129 |
| Issuance of Barna Units Put Option (see Note 4) |  |  | 3760 |  |  |  |  |  |  |  |
| Repurchase of Series A Preferred Units in connection with the Servant Acquisition (see Note 4) | (63172) | (379) |  |  |  |  |  |  |  |  |
| Issuance of Series A Preferred Units | 100000 | 600 |  |  |  |  |  |  |  |  |
| Exercise of common unit options |  |  |  | 47500 |  | 64 |  |  |  | 64 |
| Members advance |  |  |  |  |  | 6700 |  |  |  | 6700 |
| Equity-based compensation |  |  |  |  |  | 3276 |  |  |  | 3276 |
| Foreign currency translation adjustment |  |  |  |  |  |  | 262 |  |  | 262 |
| Net income (loss) attributable to noncontrolling interests |  |  | (377) |  |  |  |  |  | (930) | (930) |
| Net loss attributable to common members |  |  |  |  |  |  |  | (69751) |  | (69751) |
| **Balance as of July 31, 2025** | 115368634 | $360063 | $3383 | 24651074 | $— | $36134 | $262 | $(438063) | $19422 | $(382245) |

---

*The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.*

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**Gloo Holdings, LLC**

**Condensed Consolidated Statements of Cash Flows** 

**(unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended July 31,** | **Six Months Ended July 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| **Operating activities:** |  |  |
| Net loss | $(27394) | $(71058) |
| Adjustments to reconcile net loss attributable to common members to net cash used in<br> operating activities: |  |  |
| &nbsp;&nbsp;Equity-based compensation expense | 2846 | 3275 |
| &nbsp;&nbsp;Depreciation and amortization | 3611 | 5200 |
| &nbsp;&nbsp;Amortization of deferred financing costs | 131 | 1247 |
| &nbsp;&nbsp;Provision for expected credit losses | 30 | 479 |
| &nbsp;&nbsp;Lease expense | 584 | 862 |
| &nbsp;&nbsp;Deferred income taxes | (412) | (360) |
| &nbsp;&nbsp;Loss (gain) from change in fair value of financial instruments | 220 | 11436 |
| &nbsp;&nbsp;Loss (gain) on sale of property and equipment | 205 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Income) loss from equity method investments, net | 273 | 106 |
| &nbsp;&nbsp;Loss on extinguishment of debt |  | 7473 |
| &nbsp;&nbsp;Debt assumed through PIK interest | 239 | 41 |
| &nbsp;&nbsp;Changes in operating assets and liabilities, net of acquisitions: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | (480) | (1385) |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | (9) | 232 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other non-current assets |  | (4478) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | (581) | 4281 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities | (2650) | 163 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | 674 | (1134) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other non-current liabilities | (780) | (606) |
| **Net cash used in operating activities** | (23493) | (44226) |
| **Investing activities:** |  |  |
| &nbsp;&nbsp;Purchases of property and equipment | (324) | (520) |
| &nbsp;&nbsp;Capitalized internal-use software costs | (2502) | (6447) |
| &nbsp;&nbsp;Acquisitions, net of cash acquired | (1350) | (3765) |
| **Net cash used in investing activities** | (4176) | (10732) |
| **Financing activities:** |  |  |
| &nbsp;&nbsp;Payments on debt | (105) | (24) |
| &nbsp;&nbsp;Proceeds from debt | 44000 | 56950 |
| &nbsp;&nbsp;Payment of deferred financing costs | (78) | (73) |
| &nbsp;&nbsp;Proceeds from exercise of common unit options |  | 64 |
| &nbsp;&nbsp;Proceeds from Member Advances received |  | 6700 |
| &nbsp;&nbsp;Proceeds from Series A Preferred Units issuance | 325 | 600 |
| **Net cash provided by financing activities** | 44142 | 64217 |
| **Effect of exchange rate changes on cash and cash equivalents** |  | (260) |
| **Net increase in cash, cash equivalents and restricted cash** | 16473 | 8999 |
| **Cash, cash equivalents, and restricted cash** |  |  |
| **Beginning of period** | 13727 | 13844 |
| **End of period** | $30200 | $22843 |
| **Supplemental disclosures of cash flow information:** |  |  |
| &nbsp;&nbsp;Cash paid for interest | $364 | $2750 |
| &nbsp;&nbsp;Cash paid for taxes |  |  |
| **Supplemental disclosure of non-cash investing and financing activity:** |  |  |
| ROU assets obtained in acquisitions | $— | $2206 |
| ROU assets obtained in exchange for new lease liabilities |  | 1315 |

---

*The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.*

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# Notes to the Cons olidated Financial Statements
**1.** **Nature of Business**

Gloo Holdings, LLC's ("Gloo" or the "Company") mission is to build the leading technology platform for the faith and flourishing ecosystem, which is one of the largest, oldest, and least-digitized ecosystems in the world. Since the Company's founding in 2013, Gloo has provided a breadth of products, services, and solutions to the two primary stakeholders at the core of the faith and flourishing ecosystem: (1) network capability providers ("NCPs") and (2) the churches and frontline organizations ("CFLs") they serve.

The Gloo platform serves as a digital infrastructure between NCPs and CFLs. By facilitating efficient exchange between the two, Gloo enables both sides to succeed; CFLs gain access to better resources and NCPs benefit from efficient distribution and targeted reach. This creates a virtuous cycle, strengthening the platform with each interaction. The Gloo platform includes a suite of technology, marketplace, and service solutions offered directly from Gloo or from Gloo's consolidated subsidiaries and equity method investments ("Gloo Capital Partners").

***Going Concern***

Since inception, the Company has incurred cumulative losses from operations. The Company has funded its operations and capital needs primarily through net proceeds received from the sale of preferred units and proceeds from long-term debt. The Company held cash and cash equivalents of $22.6 million and had an accumulated deficit of $438.1 million as of July 31, 2025. Additionally, the Company incurred net losses of $71.1 million and used $44.2 million of cash in operating activities during the six months ended July 31, 2025. The Company will need to raise additional funds to meet its long-term strategic plans. Such plans include, but are not limited to, generating revenue through subscriptions of our expanding technology and AI offerings, increased marketplace offerings and growing advertising services, as well as seeking external sources of liquidity. Management believes it will be able to obtain additional capital to fund its operations, however, there are no assurances that the Company will be able to raise additional capital on terms acceptable to the Company or at all. If the Company's plans are not implemented on a timely basis, Management may delay or modify the Company's business plans, potentially including the timing of planned capital expenditures, development and other planned activities, all of which, individually or in the aggregate, could have material negative consequences to the Company and its results of operations and business relationships.

In connection with the preparation of these condensed consolidated financial statements, Management evaluated conditions and events known and reasonably knowable that could adversely affect the Company's ability to meet its obligations through one year from the date the financial statements are available to be issued. Management's assessment considered the Company's current financial condition, characterized by recurring operating losses, negative cash flows, limited liquid resources, and dependence on external financing, as well as the funds required to execute its business plan over the evaluation period. Based on these factors, the Company has concluded there is substantial doubt about its ability to continue as a going concern for at least twelve months from the date the financial statements are available to be issued.

The condensed consolidated financial statements have been prepared on a basis that assumes the Company will continue as a going concern and do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.

**2.** **Summary of Significant Accounting Policies**

***Basis of Presentation and Principles of Consolidation***

The accompanying unaudited condensed consolidated financial statements include the accounts of Gloo Holdings, LLC, its wholly-owned subsidiaries, less-than-wholly-owned subsidiaries in which the Company holds a controlling financial interest, and variable interest entities ("VIEs") for which the Company has determined it is the primary beneficiary. The Company has prepared the unaudited condensed consolidated financial statements in

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accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements as of and for the year ended January 31, 2025 and the related notes. Our unaudited interim condensed consolidated financial statements include, in the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair statement of the condensed consolidated financial statements. All material intercompany accounts and transactions have been eliminated in consolidation. There have been no significant changes in accounting policies during the six months ended July 31, 2025 from those disclosed in the annual consolidated financial statements as of and for the year ended January 31, 2025 and the related notes. The interests of the minority owners in less-than-wholly-owned subsidiaries are accounted for as non-controlling interests.

Ownership interests in unconsolidated entities for which the Company has significant influence are accounted for using the equity method of accounting.

***Use of Estimates***

The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain amounts reported in the condensed consolidated financial statements and accompanying notes. Estimates are based on historical and anticipated results and trends, and on various other assumptions the Company believes are reasonable under the circumstances, including assumptions as to future events. Management evaluates these estimates, judgments and assumptions on an ongoing basis. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates, and any such differences may be material to the Company's condensed consolidated financial statements. Significant estimates reflected in the condensed consolidated financial statements include revenue recognition, including the stand-alone selling prices ("SSP") for each distinct performance obligation; internal-use software development costs; the useful lives of long-lived assets; the net realizable value of inventory; the reserve for expected credit losses; income taxes; equity-based compensation; the valuation of the Company's common units, equity awards and financial instruments; the fair value of assets and noncontrolling interest acquired and liabilities assumed in business combinations; valuation of consideration transferred in business combinations; the fair value of the call option associated with the Midwestern Interactive, LLC ("Midwestern") acquisition; the incremental borrowing rate used to determine operating lease right-of-use assets and lease liabilities, the fair value of derivative and warrant liabilities, and legal and other loss contingencies.

***Noncontrolling Interests***

The Company accounts for an equity interest in a less-than-wholly owned consolidated subsidiary that is not attributable, either directly or indirectly, to the Company as noncontrolling interest in accordance with *ASC Topic 810, Consolidation ("ASC 810")*.

Noncontrolling interest is recognized as equity in our consolidated balance sheets and presented separately from the equity attributable to common members. Any change in ownership of a less-than-wholly-owned consolidated subsidiary while the controlling financial interest is retained is accounted for as an equity transaction between the controlling and noncontrolling interests. The amounts of consolidated net loss attributable to common members and noncontrolling interest are separately presented in the consolidated statements of operations. The Company's net loss per unit attributable to common members excludes net losses attributable to noncontrolling interests.

Noncontrolling interests that are redeemable outside the Company's control at fixed or determinable prices and dates are presented as mezzanine equity in the condensed consolidated balance sheets. Redeemable noncontrolling interests are recorded at the greater of the redemption fair value or the carrying value of the noncontrolling interest and adjusted each reporting period for income, loss and any distributions made. Remeasurements to the redemption value of the redeemable noncontrolling interest are recorded with corresponding adjustments against additional paid in capital. The Company has a redeemable noncontrolling interest related to an acquisition as the minority interest owner holds a put option which may require the Company to purchase its interest in certain scenarios.

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***Cash and Cash Equivalents and Restricted Cash***

The Company considers all highly liquid investments with an original maturity of three months or less when acquired to be cash equivalents. The Company maintains cash and cash equivalent balances in financial institutions that may at times exceed federally-insured limits. The Company has not experienced any losses in such accounts.

Restricted cash consists of funds that are contractually restricted as to usage or withdrawal. The Company defines restricted cash as cash that cannot be withdrawn or used for general operating activities. Restricted cash includes amounts held to collateralize outstanding credit card borrowing facilities and is classified as current or noncurrent assets based on the nature and duration of the restriction. As of January 31, 2025 and July 31, 2025, the Company did not have any non-current restricted cash balances. All restricted cash amounts are expected to be utilized within one year and are therefore classified as current assets.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash as presented in the condensed consolidated balance sheets to the total amount shown in the condensed consolidated statements of cash flows:

---

| | | |
|:---|:---|:---|
|  | **January 31,** | **July 31,** |
|  | **2025** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Cash and cash equivalents | $13592 | $22589 |
| Restricted cash | 252 | 254 |
| Total cash, cash equivalents, and restricted cash | $13844 | $22843 |

---

***Accounts Receivable, Net Allowance for Credit Losses***

Accounts receivable are recorded at the invoiced amounts, net of allowance. The Company maintains an allowance for expected credit losses for amounts it does not expect to collect. In establishing an estimated allowance, the Company considers the financial condition and credit quality of its customers, historical losses, current market conditions, the age of the receivables, and current payment patterns. Account balances are written off against the allowance in the period in which the balance is deemed uncollectible. Subsequent recoveries of previously written off balances are recognized when received. Provisions for expected credit losses are recorded to general and administrative in the condensed consolidated statements of operations.

Changes in the Company's allowance for credit losses as of January 31, 2025 and July 31, 2025 were as follows:

---

| | | |
|:---|:---|:---|
|  | **January 31,** | **July 31,** |
|  | **2025** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Allowance, beginning of period | $75 | $68 |
| Write-offs of uncollectible accounts, net | (71) | (515) |
| Provision for expected credit losses | 64 | 480 |
| Allowance, end of period | $68 | $33 |

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***Revenue Recognition***

The Company derives its revenue primarily from platform solutions revenue and platform revenue. The Company's primary revenue streams were as follows:

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended July 31,** | **Six Months Ended July 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Subscription revenue | $2875 | $6270 |
| Marketplace revenue | 6873 | 6935 |
| Advertising revenue | 715 | 4036 |
| Platform revenue | 10463 | 17241 |
| Platform solutions revenue | 121 | 11234 |
| Other revenue | 13 |  |
| &nbsp;&nbsp;Total revenue | $10597 | $28475 |

---

*Subscription Revenue*

The Company provides customers with access to its cloud-based platforms, including Gloo+, Barna Access Plus, Church Law & Tax, ChurchSalary, and others, under subscription arrangements that do not convey a license or ownership of the software. Subscriptions are typically offered in one- or twelve-month terms and are billed in advance.

Revenue is recognized over the subscription term as the Company satisfies its performance obligation by providing continuous access to the platforms. For certain platforms, customers may cancel and receive a refund for the unused portion of the subscription. Refundable amounts are recorded as customer deposit liabilities until recognized or refunded.

*Marketplace Revenue*

Marketplace revenue primarily consists of physical and digital products such as books, publications, curricula, marketing collateral and church supplies sold through the Company's online marketplace and online stores of the consolidated subsidiaries. The timing of revenue recognition within marketplace is generally point-in-time when products ship to customers.

*Advertising Revenue*

Advertising revenue consists of digital advertising services and campaign management services.

Digital advertising services include display advertising sold on the Company's website and the management of cross-channel campaigns for customers. For fixed-fee arrangements, revenue is recognized over the service period, generally as costs are incurred or as time elapses, depending on the nature of the campaign. For performance-based placements, such as cost-per-click, revenue is recognized as the clicks occur. The Company applies the invoice practical expedient for these arrangements.

Campaign management services include strategy and creative consulting, mail campaigns, digital media campaigns, data and analytics, email campaigns, and SMS campaigns. Revenue from these services is recognized over time using an input method based on actual costs incurred relative to budgeted costs.

In providing advertising and campaign services, the Company engages third-party vendors for printing, postage, data acquisition, and media placement. The Company acts as the principal in these arrangements because it controls the specified services before they are transferred to the customer, has discretion in selecting and directing vendors, and is responsible for fulfilling the services. Accordingly, advertising revenues are reported on a gross basis and related third-party costs are recorded in cost of revenue.

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*Platform Solutions Revenue*

The Company derives revenue from professional service offerings to customers. These services are primarily fixed fee engagements or scoped engagements with a projected set of hours that are billed as time is incurred. For fixed fee engagements, which have a stand-ready obligation, revenue is measured over time elapsed and recognized ratably over the contractual service period as the performance obligation is satisfied. For scoped engagements, revenue is measured using service hours that have been rendered over the contractual service period as the scope of the engagement is completed.

Customer payments for professional services are generally billed over the contractual term. Contracts generally have a term of 12 months or less and the Company performs services consistently over time and concluded that no significant financing component exists.

Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue.

*Contract Balances*

The timing of revenue recognition, invoicing, and cash collections results in the recognition of accounts receivable, contract assets, and deferred revenue in the condensed consolidated balance sheets. Contract assets represent revenue recognized in excess of billings for partially fulfilled performance obligations recognized over time. Deferred revenue represents payments received from customers in excess of revenue recognized. Contract assets are classified as current assets in the condensed consolidated balance sheets.

*Disaggregation of Cost of Revenue (exclusive of depreciation and amortization)*

The Company disaggregates cost of revenue based on whether the cost is attributable to services rendered, tangible products, and other indirect costs. The breakdown of cost of revenue (exclusive of depreciation and amortization) is as follows:

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended July 31,** | **Six Months Ended July 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Subscription revenue costs | $2472 | $3608 |
| Marketplace revenue costs | 6328 | 6213 |
| Advertising revenue costs | 501 | 2964 |
| Platform revenue costs | 9301 | 12785 |
| Platform solutions revenue costs | 74 | 8183 |
| Other revenue costs | 19 |  |
| &nbsp;&nbsp;Total cost of revenue (exclusive of depreciation and amortization) | $9394 | $20968 |

---

***Foreign Currency***

The Company's consolidated financial statements are presented in U.S. dollars, which is its reporting currency. The Company has one foreign subsidiary whose functional currency is its local currency. The financial statements of this subsidiary are translated into U.S. dollars using exchange rates at the balance sheet date for assets and liabilities, average exchange rates for the period for revenues and expenses, and historical exchange rates for equity transactions. Resulting translation adjustments are recorded in accumulated other comprehensive income within the condensed consolidated statements of comprehensive loss. Foreign currency transaction gains and losses are included in other expense (income), net in the condensed consolidated statements of operations.

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***Deferred Offering Costs***

Deferred offering costs, which consist of direct and incremental legal, accounting, consulting, printing, and other third-party fees related to the Company's planned initial public offering ("IPO"), are capitalized within other non-current assets in the condensed consolidated balance sheets. The deferred offering costs will be offset against proceeds from the offering upon consummation of the IPO. In the event the planned offering is terminated, the deferred offering costs will be immediately expensed in the condensed consolidated statements of operations.

Deferred offering costs were $0.4 million and $3.0 million as of January 31, 2025 and July 31, 2025, respectively.

***Recent Accounting Pronouncements Not Yet Adopted***

In December 2023, the FASB issued ASU 2023-09, *Income Taxes (Topic 740): Improvements to Income Tax Disclosure*, requiring enhanced income tax disclosures ("ASU 2023-09"). This ASU requires disclosure of specific categories and disaggregation of information in the rate reconciliation table. This ASU also requires disclosure of disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit disaggregated between domestic and foreign, and income tax expense or benefit from continuing operations disaggregated between federal, state, and foreign. For public companies, the requirements of this ASU are effective for annual periods beginning after December 15, 2024. Early adoption is permitted and the amendments should be applied on a prospective basis. Retrospective application is permitted. The Company is currently evaluating the impact of the new guidance on the disclosure within its condensed consolidated financial statements.

In March 2024, the FASB issued ASU 2024-01, "*Compensation - Stock Compensation*" which was issued to reduce complexity in determining if profit interest awards are subject to *ASC Topic 718, Compensation - Stock Compensation ("ASC 718")* and to reduce diversity in practice. For public entities, the standard is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. For all other entities, including EGCs, the standard is effective for annual periods beginning after December 15, 2025, and interim periods within those annual periods. The Company has elected to use the extended transition period available to it as an EGC and is currently evaluating the impact of the new guidance on the disclosure within its condensed consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, "*Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures*," which requires disclosure of additional information about specific expense categories underlying certain income statement expense line items. The standard is effective for all entities with annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this accounting standard update on its condensed consolidated financial statements and related disclosures.

In July 2025, the FASB issued ASU 2025-05, "*Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets*," which provides a practical expedient related to the estimation of expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under Topic 606, including those assets acquired in a business combination. The practical expedient permits an entity to assume that current conditions as of the balance sheet date do not change for the remaining life of the current accounts receivable and current contract assets. This guidance is effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods, with early adoption permitted. The Company is currently evaluating the impact of the adoption of this guidance on its condensed consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, "*Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software*," which modernizes the accounting for internal-use software costs. The ASU eliminates all references to prescriptive and sequential software developmental stages, establishes a probable-to-complete threshold for commencing capitalization, incorporates website development guidance into Subtopic 350-40 and requires enhanced disclosures for capitalized internal-use software costs. The amendments do not change the existing criteria for which costs are eligible for capitalization or the point at which capitalization ceases. This guidance is effective for annual periods beginning after December 15, 2027, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of this guidance on its condensed consolidated financial statements.

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**3.** **Variable Interest Entities**

***Consolidated VIEs***

*Visitor Reach*

As of July 31, 2025, the Company continues to hold 51.2% of the issued and outstanding equity units of Visitor Reach and reports a non-controlling interest. In connection with the acquisition of Visitor Reach, the Company entered into call option agreements (the "VR Call Options") with three minority stockholders of Visitor Reach (the "VR Option Holders") in exchange for future post-combination services. As the VR Call Options remain outstanding and are not yet exercisable, the Company has determined that it is still the primary beneficiary of Visitor Reach as it continues to hold to the power to direct the activities that most significantly impact Visitor Reach's economic performance.

*Barna*

As discussed in Note 4, *Business Combinations*, in February 2025, the Company acquired 49.0% of the equity ownership of Barna, and a majority voting interest in Barna, to build on prior collaborations and expand the Company's offerings. Barna is a research and strategy consulting firm specializing in church engagement, leadership development, cultural analysis, and generational insights.

Barna was determined to be a VIE because it lacks sufficient equity at risk to finance its operations without future subordinated financial support. The Company determined that it was the primary beneficiary of Barna because it has the power to direct activities that most significantly impact the entity's economic performance, primarily the research, development, sale, and marketing of Barna's faith-based content. The Company also has an obligation to absorb losses of the entity through its equity ownership interest. Accordingly, the Company consolidated Barna as of February 18, 2025. The Company holds an additional variable interest in Barna through a revenue sharing arrangement on co-developed content, including the Barna Access Plus platform.

Barna is financed primarily through related-party debt and capital contributions from the Company. At the acquisition date, the Company provided $1.25 million of new capital, most of which was used to repay outstanding loans, resulting in limited liquidity. Barna's creditors do not have recourse to the general credit of the Company as part of its outstanding debt agreements, as the Company does not guarantee any of Barna's debt obligations.

In conjunction with the acquisition, the Company entered into a $2.0 million commercial services agreement with Barna, committing to purchasing $1.0 million in services from Barna for the first two years following the acquisition with the intent that the companies would continue their existing commercial relationships in substantially the same manner as conducted prior to the acquisition.

Additionally, in connection with the acquisition of Barna, the Company entered into an amended and restated limited liability company agreement that included a put option (the "Barna Units Put Option") given to the noncontrolling stockholder of Barna. This option provides the stockholder the right, but not the obligation, to cause Gloo to purchase all, but not less than all, equity ownership held in Barna by the noncontrolling stockholder at fair market value. This option is nontransferable and is exercisable within a 30-day window following either (i) the termination of Barna's CEO, who is the majority owner of Barna's noncontrolling stockholder, without cause, or (ii) his voluntary resignation for reasons specified in his employment agreement. The option was assigned negligible value, and the Company has classified this ownership interest as a redeemable non-controlling interest. For further detail, see *Redeemable Non-Controlling Interest in Consolidated VIEs*, below.

Total assets and liabilities included on the consolidated balance sheet for Barna as of July 31, 2025, were $10.4 million and $2.5 million, respectively. Barna's assets consisted primarily of intangible assets related to customer relationships, trademarks, and goodwill, further supporting the fact that Barna requires ongoing assistance from the Company to finance its operations and cover its existing obligations.

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*Redeemable Non-Controlling Interest in VIEs - Barna*

The holder of the redeemable non-controlling interest in Barna may elect to cause the Company to purchase its ownership interests at fair market value during a 30-day window immediately following either (i) the termination of Barna's CEO, who is the majority owner of Barna's noncontrolling stockholder, without cause, or (ii) his voluntary resignation for reasons specified in his employment agreement. Because the redemption feature is not solely within the control of the Company, this ownership interest is classified as a redeemable non-controlling interest in a consolidated VIE within mezzanine equity on the accompanying condensed consolidated balance sheets.

Subsequent adjustment of the amount presented in temporary equity is currently not required because it was not probable that the instrument will become redeemable. If and when the redemption becomes probable, the Company will record adjustments to bring the carrying value to redemption value. Adjustments of redeemable non-controlling interest to its redemption value are recorded through additional paid-in capital. Total redeemable non-controlling interest was $3.4 million as of July 31, 2025. Net income attributable to redeemable non-controlling interest was $0.4 million during the six months ended July 31, 2025.

***Unconsolidated VIEs***

*Sermons Tech*

The Company accounts for its investment in Sermons Tech, LLC ("Sermons Tech") under the equity method of accounting, in accordance with ASC 323, as it determined it has significant influence over Sermons Tech's financial and operating policies. However, the Company does not have the power to direct the activities that most significantly impact Sermons Tech's economic performance; therefore, the Company is not the primary beneficiary of the entity as of the balance sheet date.

The Company's carrying value of its investment in Sermons Tech was $1.3 million and $1.1 million as of January 31, 2025 and July 31, 2025, respectively, and is included in investments in the condensed consolidated balance sheets. The Company's maximum exposure to loss is limited to the carrying value of its investment, as the Company has not entered into any other funding arrangements or guarantees for which it would be held liable by the VIE.

**4.** **Business Combinations**

*Barna Acquisition*

On February 18, 2025, the Company acquired 49.0% of the equity ownership of Barna Holdings, LLC ("Barna" and the transaction, the "Barna Acquisition"). Barna is a research and strategy consulting firm specializing in church engagement, leadership development, cultural analysis, and generational insights. Its offerings include custom research, data reports, webcasts, and podcasts that help organizations better understand and connect with church leaders and spiritually curious audiences. The Company acquired Barna to build on prior collaborations related to co-funded research projects, while enhancing the Company's ability to deliver advanced data-driven solutions, broaden its digital content offerings, and provide end users with a seamless digital experience with data-driven insights to the faith ecosystem. The Company's 49.0% equity ownership represents a controlling financial interest in Barna as the Company has determined that it is the primary beneficiary of Barna. For more information on this determination, refer to Note 3, *Variable Interest Entities*.

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The contractual purchase price consideration of $4.9 million was adjusted to the acquisition date fair value of $3.6 million. The remaining acquisition date fair valued $1.3 million was contributed directly to the acquiree as a capital infusion to fund working capital and support post-acquisition operations. Because the $1.3 million remains within the acquiree and under the Company's control as the controlling stockholder, only the $3.6 million paid to the selling stockholders constitutes consideration transferred in accordance with *ASC 805*. The difference between the contractual purchase price and the GAAP purchase consideration is primarily related to a fair value adjustment related to equity consideration, and an adjustment to cash consideration to reflect the amount transferred to the sellers. The as-adjusted purchase price representing the consideration transferred under ASC 805 consisted of the following:

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| | |
|:---|:---|
|  | **Estimated<br>Fair Value** |
|  | **(in thousands)** |
| Cash consideration paid within one year | $250 |
| Equity consideration | 3362 |
| &nbsp;&nbsp;Fair value of total consideration transferred | $3612 |

---

As part of the equity consideration transferred in the Barna Acquisition, the Company issued 566,667 Series A preferred units. Concurrent with the Barna Acquisition, the Company's chief executive officer and principal stockholder, Mr. Beck, entered into a put option agreement with the sellers (the "Gloo Units Put Option"), granting the sellers the right, but not the obligation, to sell all, but not less than all, of their Series A preferred units to Pearl Street Trust for a total price of $3.4 million during a 12-month exercise window beginning three years after the acquisition date. Although the Company is not a party to the agreement and has no obligation to settle the Gloo Units Put Option, the fair value of the option has been included as part of the total consideration transferred in the Barna Acquisition. This treatment reflects the substance of the arrangement, as the Gloo Units Put Option was provided in connection with the acquisition and represents a deemed capital contribution from Mr. Beck. The Series A preferred units were assigned an aggregate fair value of $2.3 million as of the acquisition date, not inclusive of the fair value of the Gloo Units Put Option, which was estimated to be $1.1 million using the Black-Scholes Option Pricing Method. The $1.1 million value of the Gloo Units Put Option, written by Mr. Beck, was considered a deemed capital contribution to the Company and recorded as an increase to additional paid-in capital as part of the acquisition and included in consideration transferred to acquire Barna. The valuation of the Gloo Units Put Option required significant management judgment, including assumptions related to volatility, risk-free interest rates, expected term, and other relevant inputs. As the Company is neither primarily nor secondarily obligated under the put option, no liability has been recognized and there is no ongoing impact to the Company's financial position or results of operations.

Concurrent with the Barna Acquisition, the Company provided a separate put option (the "Barna Units Put Option") to the noncontrolling interest holders in Barna, providing them the right, but not the obligation, to cause Gloo to purchase all, but not less than all, equity ownership in Barna held by the noncontrolling interest holders at fair market value if certain conditions are met. For further information regarding this option and its impacts, refer to Note 3, *Variable Interest Entities*.

The Company incurred an immaterial amount of transaction-related costs, which were expensed as incurred and included in general and administrative expenses on the consolidated statements of operations. Additionally, the Company settled an immaterial amount of pre-existing contractual relationships with Barna in connection with the transaction. These pre-existing contractual relationships primarily consisted of intercompany payables and receivables between Barna and the Company. No settlement gain or loss was recognized as the arrangements were at market terms.

The Barna Acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with ASC 805. The Company was identified as the accounting acquirer in the transaction. Under the acquisition method of accounting, the assets acquired and liabilities assumed are recorded at their respective fair values as of the Barna Acquisition closing date.

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The aggregate purchase price noted above was allocated to the identifiable assets acquired and liabilities assumed based upon their estimated fair values at the acquisition date, primarily using Level 2 and Level 3 inputs. Refer to Note 7, *Fair Value Measurements* for additional information. These fair value estimates represent management's best estimate of future cash flows (including sales, cost of sales, income taxes, etc.), discount rates, competitive trends, market comparable equity valuations, and other factors. Inputs used were generally determined from historical data supplemented by current and anticipated market conditions and growth rates.

The Company engaged an independent third-party valuation firm to assist in determining the fair value of the transaction, including intangible assets. The provisional measurements of fair value for certain intangible assets and liabilities (and any accompanying tax impact) may be subject to change as additional information is received. The Company expects to finalize the valuation as soon as practicable, but not later than one year from the acquisition date. The excess of the purchase price over the estimated fair values of the underlying identifiable assets acquired, liabilities assumed, and non-controlling interest was allocated to goodwill. The estimated fair value of the non-controlling interest was based on the price the Company paid for its 49.0% controlling interest in Barna.

The allocation of the purchase price and the estimated fair values of the assets acquired, liabilities assumed, and noncontrolling interest are shown below:

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| | |
|:---|:---|
|  | **(in thousands)** |
| Identified assets and liabilities: |  |
| Cash and cash equivalents | $— |
| Accounts receivable | 298 |
| Contract assets | 20 |
| Prepaid expense | 25 |
| Customer Relationships | 3000 |
| Trademarks | 750 |
| Current liabilities | (1894) |
| Other long-term liabilities | (763) |
| Total identifiable net assets acquired | 1436 |
| Noncontrolling interests | (3760) |
| Goodwill | 5936 |
| Consideration transferred | $3612 |

---

The resulting goodwill of $5.9 million is partially deductible for income tax purposes and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Specifically, the goodwill recorded as part of the Barna Acquisition includes, but is not limited to: (1) the expected synergies Barna will bring the Company's portfolio while also unlocking new opportunities for growth, and (2) any intangible assets that do not qualify for separate recognition, such as the assembled workforce of Barna.

The Company recorded finite-lived intangible assets related to customer relationships and trademarks. The fair value of the customer relationships was determined using the multi-period excess earnings method under the income approach, and the fair value of the trademarks was determined using the relief from royalty rate method under the income approach. The newly recognized intangible assets are being amortized over their estimated useful lives on a straight-line basis. The following table summarizes the estimated fair values and estimated useful lives for the identifiable intangible assets acquired as of the acquisition date:

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| | | |
|:---|:---|:---|
|  | **Estimated<br>Useful Life** | **Estimated<br>Fair Value** |
|  |  | **(in thousands)** |
| Customer relationships | 14 years | $3000 |
| Trademarks | 10 years | 750 |
|  |  | $3750 |

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For the period ending July 31, 2025, the Company's consolidated results included $1.6 million of Barna's revenue, and $0.7 million of Barna's net loss.

*CNCL Acquisition*

On February 18, 2025, the Company acquired 100% of the equity ownership of Carey Nieuwhof Communications Ltd. ("CNCL" and the transaction, the "CNCL Acquisition"). CNCL is a media and training platform dedicated to equipping faith-aligned leaders with tools to run their congregation by providing digital content, courses, podcasts, and live community engagement opportunities. With a global reach that includes a widely-enjoyed podcast, weekly newsletters, and an online network of a vast number of pastors and ministry professionals, CNCL addresses pressing leadership and cultural challenges facing today's churches. The Company acquired CNCL to expand the distribution of its courses, integrate its "Art of Leadership" academy into the broader Gloo ecosystem, and apply AI-powered tools to increase reach and engagement. As a result, the Company aims to strengthen resources available to pastors and ministry leaders, driving greater growth, connection, and resilience across the faith ecosystem. The Company obtained a controlling financial interest in CNCL through its acquisition of 100% of the equity ownership.

The contractual purchase price of $7.1 million was adjusted to the acquisition date fair value of $5.8 million. The difference between the contractual purchase price and the GAAP purchase consideration is primarily related to a fair value adjustment related to equity consideration, and a fair value adjustment to the promissory note issued to the sellers. The as-adjusted purchase price representing the consideration transferred under ASC 805 consisted of the following:

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| | |
|:---|:---|
|  | **Estimated<br>Fair Value** |
|  | **(in thousands)** |
| Cash consideration | $2135 |
| Fair value of exchangeable shares liability | 2413 |
| Promissory note to sellers | 1229 |
| &nbsp;&nbsp;Fair value of total consideration transferred | $5777 |

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As part of the consideration transferred in the CNCL Acquisition, the Company issued to the sellers 592,991 units of CNCL, which are exchangeable into the Company's Series A preferred units ("Exchangeable Shares"). The Exchangeable Shares are substantially the economic equivalent of the corresponding Series A preferred units that a seller would have received as consideration for the sale of their business. Exchangeable stockholders receive the Canadian dollar ("CAD") equivalent of dividends declared on Series A preferred units on the date of declaration. For more information regarding the Company's Exchangeable Shares, refer to Note 16*, Members' Deficit*.

The Company incurred an immaterial amount of transaction-related costs, which were expensed as incurred and included in general and administrative expenses on the consolidated statements of operations.

The CNCL Acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with ASC 805. The Company was identified as the accounting acquirer in the transaction. Under the acquisition method of accounting, the assets acquired and liabilities assumed are recorded at their respective fair values as of the CNCL Acquisition closing date.

The aggregate purchase price noted above was allocated to the identifiable assets acquired and liabilities assumed based upon their estimated fair values at the acquisition date, primarily using Level 2 and Level 3 inputs. Refer to Note 7*, Fair Value Measurements* for additional information. These fair value estimates represent management's best estimate of future cash flows (including sales, cost of sales, income taxes, etc.), discount rates, competitive trends, market comparable equity valuations, and other factors. Inputs used were generally determined from historical data supplemented by current and anticipated market conditions and growth rates.

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The Company engaged an independent third-party valuation firm to assist in determining the fair value of the transaction, including intangible assets. The provisional measurements of fair value for certain intangible assets and liabilities (and any accompanying tax impact) may be subject to change as additional information is received. The Company expects to finalize the valuation as soon as practicable, but not later than one year from the acquisition date.

The allocation of the purchase price and estimated fair values of the assets acquired and liabilities assumed is as follows:

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| | |
|:---|:---|
|  | **(in thousands)** |
| Identified assets and liabilities: |  |
| Cash and cash equivalents | $297 |
| Accounts receivable | 18 |
| Prepaid expense | 89 |
| Intangible assets | 850 |
| Other non-current assets | 11 |
| Current liabilities | (271) |
| Other long-term liabilities | (215) |
| Total identifiable net assets acquired | 779 |
| Goodwill | 4998 |
| Consideration transferred | $5777 |

---

The resulting goodwill of $5.0 million is not deductible for income tax purposes and represents the future economic benefit arising from other assets acquired that could not be individually identified and separately recognized. Specifically, the goodwill recorded as part of the CNCL Acquisition includes, but is not limited to: (1) the expected synergies the acquisition of CNCL will bring to the Company's portfolio, while also unlocking new opportunities for growth, and (2) any intangible assets that do not qualify for separate recognition, such as the assembled workforce of CNCL.

The Company recorded finite-lived intangible assets related to the CNCL Acquisition. The fair value of the CNCL tradename was determined using the relief from royalty rate method under the income approach. This newly recognized intangible asset is being amortized over its estimated useful life on a straight-line basis. The following table summarizes the estimated fair value and estimated useful life for the identifiable intangible asset acquired as of the acquisition date:

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| | | |
|:---|:---|:---|
|  | **Estimated<br>Useful Life** | **Estimated<br>Fair Value** |
|  |  | **(in thousands)** |
| Tradename | 15 years | $850 |

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For the period ending July 31, 2025, the Company's consolidated results included $0.7 million of CNCL's revenue, and $0.1 million of CNCL's net income.

*Servant Acquisition*

On March 12, 2025, the Company acquired 50.1% of the equity ownership of Servus Consulting Partners, LLC ("Servant" and the transaction, the "Servant Acquisition"). Servant is a business and technology consulting firm that supports faith-driven founders, nonprofits, and purpose-driven businesses through strategic growth initiatives and innovative software solutions. Servant was established in 2021 by Benjamin Elmore and Ranjan Thomas and operates Servant.io, its premier product. The Company acquired Servant for the purpose of expanding its tech-enabled consulting offerings to faith-driven organizations. The Company's 50.1% equity ownership represents a controlling financial interest in Servant as the Company has obtained control through its voting interest and control of the board of directors.

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The contractual purchase price of $5.6 million, which had an acquisition date fair value of $4.9 million, was paid directly to the selling stockholders in return for the Company acquiring a 50.1% equity interest. Differences between the contractual purchase price and the GAAP purchase consideration relate primarily to adjustments to fair value for equity consideration, and an adjustment related to cash consideration reflecting the amount transferred to the sellers. The $4.9 million consideration transferred under ASC 805 consisted of the following:

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| | |
|:---|:---|
|  | **Estimated<br>Fair Value** |
|  | **(in thousands)** |
| Cash consideration | $653 |
| Equity consideration | 4253 |
| &nbsp;&nbsp;Fair value of total consideration transferred | $4906 |

---

As part of the consideration transferred, the Company issued 689,550 Series A preferred units. Concurrent with the Servant Acquisition, the Company executed Call Option Agreements with Benjamin Elmore and Ranjan Thomas. These agreements provide each holder of the option to reacquire the membership units provided to Gloo in the Acquisition, subject to agreed-upon conditions. The Call Options are exercisable beginning on July 1, 2027 and remain exercisable for a 12-month period thereafter at the then-determined fair market value of the shares. These options have been assigned a negligible dollar value.

Additionally, as part of the consideration transferred in the Servant Acquisition, the Company's chief executive officer and principal stockholder, Mr. Beck, executed separate non-transferable Put Option Agreements with Benjamin Elmore and Ranjan Thomas, granting the sellers the right, but not the obligation, to sell Gloo Units received at a price of $6.00 per share during a 12-month exercise window in 2027. Although the Company is not a party to the agreements and has no obligation to settle the put options, the fair value of the option has been included as part of the total consideration transferred in the Servant Acquisition. This treatment reflects the substance of the arrangement, as the put option was provided in connection with the acquisition and represents a deemed capital contribution from Mr. Beck. The Series A preferred units were assigned an aggregate fair value of $2.8 million as of the acquisition date, not inclusive of the fair value of the put options, which was estimated to be $1.4 million using the Black-Scholes Option Pricing Method. The $1.4 million value of the put option written by Mr. Beck was considered a deemed capital contribution to the Company and recorded as an increase to APIC as part of the acquisition of Servant. The valuation of the put option required significant management judgment, including assumptions related to volatility, risk-free interest rates, expected term, and other relevant inputs. As the Company is neither primarily nor secondarily obligated under the put option, no liability has been recognized and there is no ongoing impact to the Company's financial position or results of operations.

As part of the transaction, the Company incurred an immaterial amount of transaction-related costs, which were expensed as incurred and included in general and administrative expenses on the consolidated statements of operations. Additionally, the Company settled an immaterial account payable with Servant in connection with the transaction related to services previously provided by Servant to Gloo. No settlement gains or loss was recognized as the arrangement was at market terms.

The Servant Acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with ASC 805. The Company was identified as the accounting acquirer in the transaction. Under the acquisition method of accounting, the assets acquired and liabilities assumed are recorded at their respective fair values as of the Servant Acquisition closing date.

The aggregate purchase price noted above was allocated to the identifiable assets acquired and liabilities assumed based upon their estimated fair values at the acquisition date, primarily using Level 2 and Level 3 inputs. Refer to Note 7*, Fair Value Measurements* for additional information. These fair value estimates represent management's best estimate of future cash flows (including sales, cost of sales, income taxes, etc.), discount rates, competitive trends, market comparable equity valuations, and other factors. Inputs used were generally determined from historical data supplemented by current and anticipated market conditions and growth rates.

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The Company engaged an independent third-party valuation firm to assist in determining the fair value of the transaction, including intangible assets. The provisional measurements of fair value for certain intangible assets and liabilities (and any accompanying tax impact) may be subject to change as additional information is received. The Company expects to finalize the valuation as soon as practicable, but not later than one year from the acquisition date. The estimated fair value of the non-controlling interest was based on the price the Company paid for its 50.1% controlling interest in Servant.

Prior to the business combination, the Company held a noncontrolling equity interest in Servant, which was accounted for at cost using the measurement alternative under *ASC Topic 321, Investments*—*Equity Securities ("ASC 321")*. In connection with the business combination, the Company revalued its previously held equity interest based on the fair value indicated by the consideration described above. This resulted in a $354,000 gain on revaluation of a previously held equity interest, which has been presented in "Other expense (income), net".

The allocation of the purchase price and estimated fair values of the assets acquired and liabilities assumed is as follows:

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| | |
|:---|:---|
|  | **(in thousands)** |
| Identified assets and liabilities: |  |
| Cash and cash equivalents | $111 |
| Accounts receivable | 454 |
| Contract assets | 36 |
| Prepaid expense | 87 |
| Intangible assets | 2500 |
| Equity investment - Gloo (treasury units) | 379 |
| Accounts payable | (374) |
| Accrued compensation | (173) |
| Accrued liabilities | (195) |
| Deferred revenue | (672) |
| Total identifiable net assets acquired | 2153 |
| Noncontrolling interests | (6472) |
| Goodwill | 9754 |
| Fair value of previously held equity interest in acquiree | (529) |
| Consideration transferred | $4906 |

---

The resulting goodwill of $9.8 million is partially deductible for income tax purposes and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Specifically, the goodwill recorded as part of the Servant Acquisition includes, but is not limited to: (1) the expected synergies Servant will bring the Company's portfolio while also unlocking new opportunities for growth, and (2) any intangible assets that do not qualify for separate recognition, such as the assembled workforce of Servant.

The Company recorded finite-lived intangible assets related to customer relationships and trademarks. The fair value of the customer relationships was determined using the multi-period excess earnings method under the income approach, and the fair value of the trademarks was determined using the relief from royalty rate method under the income approach. The newly recognized intangible assets are being amortized over the estimated useful lives on a straight-line basis. The following table summarizes the estimated fair values and estimated useful lives for the identifiable intangible assets acquired as of the acquisition date:

---

| | | |
|:---|:---|:---|
|  | **Estimated<br>Useful Life** | **Estimated<br>Fair Value** |
|  |  | **(in thousands)** |
| Customer relationships | 16 years | $1750 |
| Trademarks | 8 years | 750 |
|  |  | $2500 |

---

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For the period ending July 31, 2025, the Company's consolidated results included $4.1 million of Servant's revenue, and $0.8 million of Servant's net loss.

*Midwestern Acquisition*

On June 11, 2025, the Company acquired a controlling financial interest in Midwestern Interactive, LLC ("Midwestern") with a minority interest retained by Flourish Holdings, Inc. ("Flourish") (the "Midwestern Acquisition"). In January 2025, the Company obtained an 80% interest in Midwestern accounted for as an equity method because, notwithstanding its majority equity interest, it did not obtain a controlling financial interest due to certain rights held by the noncontrolling stockholder through the call option agreement.

Midwestern, a Missouri-based technology and design development firm, has built a reputation as a powerhouse in software innovation with a team of more than 100 developers and product experts. Midwestern specializes in embedding talent within partner organizations to support every stage of product development, from concept and prototyping to scalable delivery, ensuring quality, speed, and impact. With deep experience in both ministry contexts and advanced technical solutions, Midwestern has already contributed to Gloo's platform and will now expand its role through this partnership. The Company acquired a majority interest in Midwestern to accelerate AI-driven initiatives, provide turnkey development for faith-based applications, and strengthen the overall technology capabilities available to Gloo partners. By integrating Midwestern's expertise with Gloo's data intelligence and expansive faith ecosystem, the acquisition aims to enhance innovation, reduce development friction, and drive faster, more effective technology solutions for churches and ministries worldwide.

The Company's control and consolidation of Midwestern was a consequence of the June modification of the terms of the call option agreement initially agreed in January, which resulted in a $2.8 million reduction of the option's value (a concession by Flourish) as well as control by the Company. Management has determined that this reduction in the value of the option represents consideration transferred.

The contractual purchase price of $22.6 million was adjusted to the acquisition date fair value of $31.4 million, which includes the value of the call option. The as-adjusted purchase price representing the consideration transferred under ASC 805 consisted of the following:

---

| | |
|:---|:---|
|  | **Estimated<br>Fair Value** |
|  | **(in thousands)** |
| Cash consideration | $2120 |
| Equity consideration | 8479 |
| Promissory notes to seller | 12045 |
| Fair value of call option | 8792 |
| Initial investment | 31436 |
| Less: reduction in option due to June modification | (2822) |
| &nbsp;&nbsp;Fair value of total consideration transferred | $28614 |

---

As part of the total consideration transferred in the Midwestern Acquisition, the Company issued 2,083,333 Series A preferred units assigned an aggregate fair value of $8.5 million as of the January 2025 transaction. No additional equity compensation was issued in June 2025 when the Company obtained a controlling financial interest.

The Company incurred $0.3 million transaction-related costs as part of the initial investment which were capitalized to the Company's equity method investment in Midwestern. Upon consolidation, the value of those transaction costs was recognized as loss on revaluation of previously held equity method investment. An immaterial amount of transaction-related costs was incurred related to the modification, which were expensed as incurred and included in general and administrative expenses on the consolidated statements of operations. Additionally, the Company and its subsidiaries were significant customers of Midwestern, and the transaction effectively settled certain intercompany contract assets on Midwestern's balance sheet as of the acquisition date. No settlement gain or loss was recognized as the arrangements were at market terms.

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The Midwestern Acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with ASC 805. The Company was identified as the accounting acquirer in the transaction. Under the acquisition method of accounting, the assets acquired and liabilities assumed are recorded at their respective fair values as of the Midwestern Acquisition closing date.

The aggregate purchase price noted above was allocated to the identifiable assets acquired and liabilities assumed based upon their estimated fair values at the acquisition date, primarily using Level 2 and Level 3 inputs. Refer to Note 7, *Fair Value Measurements* for additional information. These fair value estimates represent management's best estimate of future cash flows (including sales, cost of sales, income taxes, etc.), discount rates, competitive trends, market comparable equity valuations, and other factors. Inputs used were generally determined from historical data supplemented by current and anticipated market conditions and growth rates.

The Company engaged an independent third-party valuation firm to assist in determining the fair value of the transaction, including intangible assets. The provisional measurements of fair value for certain intangible assets and liabilities (and any accompanying tax impact) may be subject to change as additional information is received. The Company expects to finalize the valuation as soon as practicable, but not later than one year from the acquisition date.. The estimated fair value of the non-controlling interest was based on the price the Company paid for its 80.0% controlling interest Midwestern.

The Midwestern Acquisition has been accounted for as a step acquisition. Prior to consolidating Midwestern, the Company revalued its previously-held equity method investment based on the fair value of consideration described above. This resulted in a $1.1 million loss, $0.9 million of which pertained to the reversal of equity method income recorded during the six months ended July 31, 2025 and $281,000 of which pertained to formerly-capitalized transaction costs, as described above. This loss has been presented net of income from equity method investments in Income (loss) from equity method investments, net.

The allocation of the purchase price and the estimated fair values of the assets acquired, and liabilities assumed are shown below:

---

| | |
|:---|:---|
|  | **(in thousands)** |
| Identified assets and liabilities: |  |
| Cash and cash equivalents | $1182 |
| Accounts receivable | 241 |
| Prepaid expense and other assets | 343 |
| Fixed assets | 155 |
| Right-of-use assets | 1475 |
| Intangible assets | 6050 |
| Other LT Assets | 6 |
| Accrued liabilities | (407) |
| Lease liabilities | (1475) |
| Notes payable | (717) |
| Total identifiable net assets acquired | 6853 |
| Noncontrolling interests | (7154) |
| Goodwill | 28917 |
| Fair value of previously held equity interest in acquiree | (31438) |
| Consideration transferred | $(2822) |

---

The resulting goodwill of $28.9 million is partially deductible for income tax purposes and represents the future economic benefit arising from other assets acquired that could not be individually identified and separately recognized. Specifically, the goodwill recorded as part of the Midwestern Acquisition includes, but is not limited to: (1) the expected synergies the acquisition of Midwestern will bring to the Company's portfolio, while also unlocking new opportunities for growth, and (2) any intangible assets that do not qualify for separate recognition, such as the assembled workforce of Midwestern.

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The Company recorded finite-lived intangible assets related to customer relationships and trademarks. The fair value of customer relationships was determined using the income approach, and the fair value of the trademarks was determined using the relief from royalty rate method under the income approach. The newly recognized intangible assets are being amortized over the estimated useful lives on a straight-line basis. The following table summarizes the estimated fair values and estimated useful lives for the identifiable intangible assets acquired as of the acquisition date:

---

| | | |
|:---|:---|:---|
|  | **Estimated<br>Useful Life** | **Estimated<br>Fair Value** |
|  |  | **(in thousands)** |
| Customer relationships | 16 years | $4550 |
| Trademarks | 8 years | 1500 |
|  |  | $6050 |

---

For the period ending July 31, 2025, the Company's consolidated results included $3.4 million of Midwestern's revenue, and $0.3 million of Midwestern's net income.

*Masterworks Acquisition*

On July 3, 2025, the Company acquired 100% of the equity ownership of Masterworks, Incorporated ("Masterworks" and the transaction, the "Masterworks Acquisition"). Masterworks, a leading marketing and fundraising firm with more than three decades of experience serving Christian nonprofits, has built its reputation on helping faith-based organizations strengthen donor relationships, expand brand presence, and optimize fundraising strategies through media, analytics, and proven ministry insight. With a team deeply rooted in serving Christ-centered missions, Masterworks has enabled countless organizations to grow their reach and impact. The Company acquired Masterworks to combine its fundraising and communications expertise with Gloo's digital infrastructure, data intelligence, and AI-powered tools. By integrating these complementary strengths, the acquisition aims to provide ministries with more personalized, scalable, and effective strategies to engage supporters and accelerate mission impact. Operating as a wholly owned subsidiary, Masterworks will leverage Gloo's ecosystem of churches and partners to promote synergistic growth that advances the shared vision of serving those who serve. Masterworks is a Washington-based advertising and fundraising agency serving Christian nonprofits, with a subsidiary Historic Agency. The Company obtained a controlling financial interest in Masterworks through its acquisition of 100% of the equity ownership.

The contractual purchase price of $5.6 million, subject to net working capital adjustments, was adjusted to the acquisition fair date value of $6.7 million, with differences pertaining to working capital adjustments and payments to a key executive which were determined to be compensation rather than consideration transferred pursuant to ASC 805. This bonus payment related to the retention of the key employee and was recorded as an operating expense following consummation of the transaction. The as-adjusted purchase price consisted of the following:

---

| | |
|:---|:---|
|  | **Estimated<br>Fair Value** |
|  | **(in thousands)** |
| Cash consideration | $4027 |
| Equity consideration | 2652 |
| &nbsp;&nbsp;Fair value of total consideration transferred | $6679 |

---

As part of the consideration transferred in the Masterworks Acquisition, the Company issued 613,961 Series A preferred units with an aggregate fair value of $2.7 million as of the acquisition date.

The Company incurred an immaterial amount of transaction-related costs, which were expensed as incurred and included in general and administrative expenses on the consolidated statements of operations. Certain costs incurred by the seller but paid by the Company were included as consideration, as noted above.

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The Masterworks Acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with ASC 805. The Company was identified as the accounting acquirer in the transaction. Under the acquisition method of accounting, the assets acquired and liabilities assumed are recorded at their respective fair values as of the Masterworks Acquisition closing date.

The aggregate purchase price noted above was allocated to the identifiable assets acquired and liabilities assumed based upon their estimated fair values at the acquisition date, primarily using Level 2 and Level 3 inputs. Refer to Note 7, *Fair Value Measurements* for additional information. These fair value estimates represent management's best estimate of future cash flows (including sales, cost of sales, income taxes, etc.), discount rates, competitive trends, market comparable equity valuations, and other factors. Inputs used were generally determined from historical data supplemented by current and anticipated market conditions and growth rates.

The Company engaged an independent third-party valuation firm to assist in determining the fair value of the transaction, including intangible assets. The provisional measurements of value for certain intangible assets and liabilities (and any accompanying tax impact) may be subject to change as additional information is received. The Company expects to finalize the valuation as soon as practicable, but not later than one year from the acquisition date.

The allocation of the purchase price and the estimated fair values of the assets acquired and liabilities assumed and noncontrolling interest are shown below:

---

| | |
|:---|:---|
|  | **(in thousands)** |
| Identified assets and liabilities: |  |
| Cash and cash equivalents | $1725 |
| Accounts receivable | 4107 |
| Contract assets | 2193 |
| Prepaid expense and other assets | 500 |
| Intangible assets | 3870 |
| Right-of-use asset | 640 |
| Current liabilities | (5512) |
| Long-term liabilities | (3427) |
| Total identifiable net assets acquired | 4096 |
| Goodwill | 2583 |
| Consideration transferred | $6679 |

---

The resulting goodwill of $2.6 million is not deductible for income tax purposes and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Specifically, the goodwill recorded as part of the Masterworks Acquisition includes, but is not limited to: (1) the expected synergies Masterworks will bring the Company's portfolio while also unlocking new opportunities for growth, and (2) any intangible assets that do not qualify for separate recognition, such as the assembled workforce of Masterworks.

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The Company recorded finite-lived intangible assets related to customer relationships, trademarks, and developed technology. The fair value of the customer relationships was determined using the multi-period excess earnings method under the income approach, and the fair values of the trademarks and developed technology were determined using the relief from royalty rate method under the income approach. The newly recognized intangible assets are being amortized over the estimated useful lives on a straight-line basis. The following table summarizes the estimated fair values and estimated useful lives for the identifiable intangible assets acquired as of the acquisition date:

---

| | | |
|:---|:---|:---|
|  | **Estimated<br>Useful Life** | **Estimated<br>Fair Value** |
|  |  | **(in thousands)** |
| Customer relationships | 10 years | $2220 |
| Trademarks | 16 years | 1230 |
| Developed technology | 6 years | 420 |
|  |  | $3870 |

---

Contract assets and liabilities were recorded under *ASC Topic 606, Revenue from Contracts with Customers ("ASC 606")* in accordance with ASU No. 2021-08; therefore, adjustments in contract assets and liabilities related to the estimated fair values of the acquired contract assets and liabilities were not required.

For the period ending July 31, 2025, the Company's consolidated results included $4.2 million of Masterworks' revenue, and an immaterial amount of Masterworks' net income.

*Supplemental Unaudited Pro Forma Information*

The unaudited supplemental pro forma financial information below presents the combined historical results of operations of the Company, Visitor Reach, Barna, CNCL, Servant, Midwestern, and Masterworks for the period presented as if Visitor Reach, Barna, CNCL, Servant, Midwestern, and Masterworks had been acquired as of February 1, 2024:

---

| | | |
|:---|:---|:---|
|  | **Pro Forma (unaudited)** | **Pro Forma (unaudited)** |
|  | **For the Six Months Ended July 31,** | **For the Six Months Ended July 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Revenue | $38179 | $49775 |
| Net loss | $(31448) | $(70887) |

---

Pro forma information reflects adjustments that are expected to have a continuing impact on the Company's results of operations and are directly attributable to the acquisition. The unaudited supplemental pro forma information above includes adjustments to reflect, among other things, direct transaction costs relating to the acquisition, the incremental intangible asset amortization to be incurred based on the preliminary values of each identifiable intangible asset, and to eliminate a portion of the interest expense related to liabilities, which were assumed by the Company upon completion of the acquisition. The unaudited supplemental pro forma financial information has been presented for illustrative purposes only and is not necessarily indicative of results of operations that would have been achieved had the acquisitions taken place on the date indicated, or of the Company's future consolidated statements of operations. The supplemental pro forma information presented above has been derived from the Company's historical consolidated financial statements and from the historical accounting records of Visitor Reach, Barna, CNCL, Servant, Midwestern, and Masterworks.

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**5.** **Equity Method Investments**

The Company accounts for its investments in unconsolidated investees using the equity method of accounting when it has the ability to exercise significant influence over the operating and financial policies of these entities. The Company's equity method investments as of July 31, 2025, consisted of one investee: Sermons Tech. Midwestern was accounted for as an equity method investment until June 2025, at which point the Company obtained a controlling financial interest and thus consolidated the entity pursuant to *ASC Topic 810*, *Consolidation ("ASC 810")*. Refer to Note 4*, Business Combinations* for additional information.

The summarized financial information below presents the results of operations of Midwestern, through June 11, 2025, when the Company obtained a controlling financial interest:

---

| | |
|:---|:---|
| **Statement of Operations** | **Six Months Ended <br>July 31, 2025** |
|  | **(in thousands)** |
| Total revenues | $5755 |
| Gross profit | 2014 |
| Income from operations | 1259 |
| &nbsp;&nbsp;Net income | $1133 |

---

***Midwestern Interactive, LLC***

On January 3, 2025, the Company acquired 8,000 common units of Midwestern Interactive, LLC ("Midwestern"), representing an 80.0% membership interest in the company, for a total purchase price of approximately $31.7 million, paid for with a combination of cash, Series A preferred units, and note issuances. The investment was determined to be an equity method investment due to the Company's ability to exercise significant influence over Midwestern through its equity investment and representation on Midwestern's board of directors. The Company did not consolidate Midwestern under ASC 810 because the participating rights held by Midwestern's minority interest holder limited the Company's ability to unilaterally control the company.

In connection with the investment, the Company entered into a freestanding call option agreement (the "MW Call Option") with the minority interest holder of Midwestern, Flourish Holdings, Inc. ("Flourish"). The MW Call Option originally granted the minority interest holder the right to repurchase all of the Company-owned Midwestern units during a 12-month exercise period which begins on the third anniversary of the Company's acquisition of its interest. In June 2025, certain terms of the MW Call Option were modified, which, among other things, resulted in the Company obtaining a controlling financial interest in Midwestern. The option becomes exercisable on the third anniversary of the effective date of the investment and expires twelve months thereafter and is subject to earlier exercise if the Company (1) enters insolvency proceedings or (2) completes a qualified IPO that raises at least $50.0 million, and its shares trade above $12.00 per share for 90 consecutive days. The MW Call Option was recorded as a liability in other non-current liabilities on the Company's condensed consolidated balance sheets and is re-measured at fair value on a recurring basis with changes in fair value recorded in loss (gain) from change in fair value of financial instruments in the condensed consolidated statements of operations. Refer to Note 7*, Fair Value Measurements* for more information regarding the value of the call option and Note 4*, Business Combinations* for additional information regarding the modification of the call option, which resulted in the Company's consolidation of Midwestern.

The initial value of the Company's investment in Midwestern was $31.7 million. Included in the initial carrying amount was a basis difference between the equity method investment recorded on the books of Gloo and the standalone books of Midwestern of approximately $5.4 million. This difference was primarily related to the recognition of intangible assets associated with Midwestern's customer relationships and trademarks. Basis differences are amortized on a straight-line basis over the remaining life of the assets or liabilities to which they relate and are recognized as an adjustment to the Company's share in the income or losses of Midwestern.

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***Sermons Tech LLC***

On October 25, 2023, the Company entered into a purchase agreement to acquire 40,000 Class A units of Sermons Tech, representing a 40.0% equity interest, for total consideration of $2.0 million payable in multiple installments throughout 2023, 2024 and 2025. Sermons Tech is a limited liability company formed in July 2023 through a planned strategic relationship with the Company to commercialize the Sermons Tech software platform, an artificial intelligence-driven tool designed to support church leaders and staff in developing and enhancing sermons and related media.

Based on the size and nature of its investment, including its representation on Sermons Tech's board of directors, the Company determined that it can exercise significant influence over Sermons Tech and should account for its investment under the equity method in accordance with *ASC Topic 323, Investments – Equity Method and Joint Ventures ("ASC 323")*.

The Company recognized its proportionate share of Sermons Tech's results of operations in gain (loss) on equity investments, net in the condensed consolidated statements of operations for the year ended January 31, 2025 and six months ended July 31, 2025. For those periods, the Company recognized equity method losses of $0.6 million and $0.1 million, respectively. The carrying amount of the investment was included in long-term investments in the condensed consolidated balance sheets and was $1.2 million and $1.1 million as of January 31, 2025 and July 31, 2025, respectively.

**6.** **Revenue**

***Contract Assets, Deferred Revenue and Remaining Performance Obligations*** 

The Company did not have any activity related to contract assets during the six months ended July 31, 2024. The Company did not have any contract assets as of January 31, 2025. During the six months ended July 31, 2025, the Company acquired contract assets of $2.3 million in connection with acquisitions, had additions of $1.9 million, and $1.1 million of contract assets that were acquired and added during the period were transferred to accounts receivable.

During the six months ended July 31, 2024, the Company did not assume deferred revenue liabilities in connection with acquisitions, had additions of $14.4 million, and recognized $13.7 million of revenue that was included in deferred revenue at the beginning of the respective period. During the six months ended July 31, 2025, the Company assumed deferred revenue liabilities of $4.4 million in connection with acquisitions, had additions of $24.3 million, and recognized $26.8 million of revenue that was included in deferred revenue at the beginning of the respective period.

As of July 31, 2025, all contracts recognized over time have contract durations of 12 months or less, and the Company expects to recognize all remaining performance obligations over the next 12 months.

***Significant Payment Terms***

The Company enters into contracts that are typically one year in length or less with payments required up front on either an annual or monthly basis. The Company has applied the practical expedient to not adjust the consideration for the effects of a significant financing component because the period between the transfer of the promised service and the payment is one year or less. In most cases, contracts are non-cancelable, and consideration paid for services that customers purchase from the Company is non-refundable.

***Costs to Obtain Revenue Contracts***

As a practical expedient, the Company recognizes the incremental costs of obtaining contracts, such as sales commissions, as expenses when incurred if the amortization period is one year or less.

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**7.** **Fair Value Measurements**

The following tables present the Company's assets and liabilities that are measured at fair value on a recurring and nonrecurring basis and indicates the fair value hierarchy of the valuations:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **`** | **As of January 31, 2025** | **As of January 31, 2025** | **As of January 31, 2025** | **As of January 31, 2025** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Liabilities:** |  |  |  |  |
| Derivative liability | $— | $— | $832 | $832 |
| Warrant liability |  |  | 4551 | 4551 |
| MW Call Option |  |  | 8793 | 8793 |
| &nbsp;&nbsp;Total | $— | $— | $14176 | $14176 |

---

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Liabilities:** |  |  |  |  |
| Derivative liability | $— | $— | $23410 | $23410 |
| Warrant liability |  |  | 822 | 822 |
| Exchangeable Shares |  |  | 2449 | 2449 |
| MW Call Option |  |  | 8231 | 8231 |
| &nbsp;&nbsp;Total | $— | $— | $34912 | $34912 |

---

The derivative liability, warrant liability, Exchangeable Shares, and MW Call Option are classified as non-current liabilities in the condensed consolidated balance sheets. Refer to Note 5, *Equity Method Investments* for additional information on the MW Call Option.

***Derivative Liability***

The embedded derivative liability relates to the features embedded in both the Senior Secured Promissory Notes issued during the fiscal year ended January 31, 2025, and the Senior Secured Convertible Notes issued during the six months ended July 31, 2025. The Company estimates the fair value of these liabilities using the "With and Without" method. This approach involves modeling the expected cash flows to the noteholder under both a default and non-default scenario, and determining the fair value differential between a note with and without the embedded features.

The valuation of these derivative liabilities incorporates significant unobservable inputs, such as the timing and probability of potential liquidity events, discount rate, illiquidity discount, and expected volatility. Other inputs include prevailing interest and risk-free rates, which are not considered significant unobservable estimates. See Note 13, *Debt*, for details on the embedded derivative liabilities.

***Warrant Liability***

The fair value of the warrant liability is estimated using an option-pricing model across IPO and Stay Private Scenarios in determining the fair values. These models consider many assumptions, including the likelihood of various potential liquidity events, the nature and timing of such potential events, actions taken with regard to the warrants at expiration, as well as discounts for lack of marketability of the underlying securities and warrants.

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The Company estimated the fair value using the following key assumptions:

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| | | |
|:---|:---|:---|
|  | **January 31, 2025** | **July 31, 2025** |
|  | **(in thousands)** | **(in thousands)** |
| Discounts for lack of marketability |  |  |
| Fair value of underlying securities | $1.50 | $1.41 |
| Expected volatility | 55.0% | 55.0% |
| Dividend rate | 0.0% | 0.0% |
| Risk-free interest rate | 4.3% | 3.9% |

---

The following table sets forth a summary of the changes in the estimated fair value of the Company's warrant liability:

---

| | |
|:---|:---|
|  | **(in thousands)** |
| Balance as of January 31, 2025 | $4551 |
| &nbsp;&nbsp;June 2025 extinguishment<sup>(1)</sup> | (3919) |
| &nbsp;&nbsp;Changes in fair value of warrants | 190 |
| Balance as of July 31, 2025 | $822 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)Refer to Note 13, *Debt,* for additional information on the June 2025 extinguishment.

***Exchangeable Shares***

The Exchangeable Shares were issued to the sellers of CNCL in connection with the CNCL Acquisition, as further described in Note 4, *Business Combinations*. The Exchangeable Shares are substantially the economic equivalent of the Company's Series A preferred units, and therefore their value approximates that of the underlying Series A preferred units. The Company estimates the fair value of these units using various valuation methods including combinations of income and market approaches, with input from management.

The income approach estimates value based on the expectation of future cash flows that the Company may generate. These future cash flows are discounted to their present values using a discount rate derived from an analysis of the cost of capital of comparable publicly traded companies as of each valuation date, adjusted to reflect the inherent risks in our cash flows.

The market approach estimates value based on a comparison to comparable public companies in a similar line of business and may also include backsolves, which infers value from recent financing rounds or tender offers. From these comparable companies, a representative market value multiple is determined and then applied to the Company's financial forecasts to estimate its value.

For each valuation, the enterprise value determined by the income and/or market approaches was then allocated to the Series A preferred units using the option pricing method, or OPM, or a hybrid of the PWERM and OPM, which estimates the probability weighted value across multiple scenarios but uses OPM to estimate the allocation of value within one or more of those scenarios. Refer to Note 16, *Members' Deficit* for further details of the Exchangeable Shares.

***Nonrecurring Fair Value Measurements***

The fair values of assets acquired and liabilities assumed in an acquisition are measured on a non–recurring basis on the acquisition date. If the assets acquired and liabilities assumed are current and short–term in nature, the Company uses their approximate carrying values as their fair values, which are either categorized as Level 1 or Level 2 inputs in the fair value hierarchy. If the assets acquired are not short–term in nature, then the fair value is determined using the estimated future cash flows, as such, are considered Level 3 inputs in the fair value hierarchy. Refer to Note 4*, Business Combinations* for a further discussion of the Company's acquisitions.

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**8.** **Capitalized Software, Net**

Capitalized software consisted of the following as of January 31, 2025 and July 31, 2025:

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| | | |
|:---|:---|:---|
|  | **January 31,** | **July 31,** |
|  | **2025** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Capitalized software | $38921 | $45367 |
| Less: accumulated amortization | (15343) | (18650) |
| &nbsp;&nbsp;Capitalized software, net | $23578 | $26717 |

---

Amortization expense, which is included in depreciation and amortization in the condensed consolidated financial statements of operations, totaled $2.3 million and $3.3 million for the six months ended July 31, 2024 and 2025, respectively.

**9.** **Intangible Assets** 

Intangible assets consisted of the following as of January 31, 2025:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of January 31, 2025** | **As of January 31, 2025** | **As of January 31, 2025** | **As of January 31, 2025** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
|  | **Useful Life** | **Gross Carrying<br>Value** | **Accumulated<br>Amortization** | **Net Book Value** |
| Customer relationships | 4-10 years | $7465 | $(1730) | $5735 |
| Developed technology | 5 years | 2050 | (354) | 1696 |
| Tradenames | 6-15 years | 4300 | (300) | 4000 |
| &nbsp;&nbsp;Total |  | $13815 | $(2384) | $11431 |

---

Intangible assets consisted of the following as of July 31, 2025:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
|  | **Useful Life** | **Gross Carrying<br>Value** | **Accumulated<br>Amortization** | **Net Book Value** |
| Customer relationships | 4-16 years | 18985 | (2763) | 16222 |
| Developed technology | 5-6 years | 2470 | (565) | 1905 |
| Tradenames | 6-16 years | 9419 | (595) | 8824 |
| &nbsp;&nbsp;Total |  | 30874 | (3923) | 26951 |

---

Amortization expense was $1.1 million and $1.5 million for the six months ended July 31, 2024 and 2025, respectively.

**10.** **Goodwill**

The following table reflects the changes in the carrying amount of goodwill for the six months ended July 31, 2025:

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| | |
|:---|:---|
|  | **(in thousands)** |
| Balance, January 31, 2025 | $27901 |
| &nbsp;&nbsp;Acquired goodwill | 52186 |
| &nbsp;&nbsp;Effect of foreign currency exchange rates | 191 |
| Balance, July 31, 2025 | $80278 |

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**11.** **Leases**

The Company leases office facilities under non-cancellable operating lease arrangements, expiring at various dates through 2030. The Company's leases generally provide for periodic rent increases and may contain escalation clauses, extension options, or renewal options. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably certain at lease commencement. The Company's lease agreements generally do not contain any material residual value guarantees or material restrictive covenants.

On February 28, 2025, as part of the Barna Acquisition, the Company acquired one lease, resulting in an operating lease liability of $0.2 million and a right-of-use asset of $0.2 million.

On May 31, 2025, as part of the Midwestern Acquisition, the Company acquired four leases, resulting in an operating lease liability of $1.3 million and a right-of-use asset of $1.3 million.

On July 3, 2025, as part of the Masterworks Acquisition, the Company acquired one lease, resulting in an operating lease liability of $0.6 million and a right-of-use asset of $0.6 million.

The components of lease costs, lease term, and discount rate for operating leases are as follows for the six months ended July 31, 2024 and 2025:

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| | | |
|:---|:---|:---|
|  | **Six Months Ended July 31,** | **Six Months Ended July 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Operating lease costs | $616 | $763 |
| Variable lease costs | 449 | 122 |
| Total lease cost | $1065 | $885 |
| Weighted-average remaining lease term (in years) | 6.17 | 4.19 |
| Weighted-average discount rate | 11% | 11% |

---

Supplemental balance sheet information related to operating leases consisted of the following as of January 31, 2025 and July 31, 2025:

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| | | |
|:---|:---|:---|
|  | **January 31,** | **July 31,** |
|  | **2025** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Operating lease ROU assets – related parties | $3618 | $4646 |
| Operating lease ROU assets – third parties | 217 | 2188 |
| Total operating lease ROU assets | $3835 | $6834 |
| Operating lease liabilities – related parties | $3556 | $4662 |
| Operating lease liabilities – third parties | 224 | 2134 |
| Total operating lease liabilities | $3780 | $6796 |

---

Supplemental cash flow information related to operating leases were as follows:

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| | | |
|:---|:---|:---|
|  | **Six Months Ended July 31,** | **Six Months Ended July 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Cash payments for operating leases | $472 | $668 |

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The future maturities of long-term operating lease liabilities for each fiscal year are as follows:

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| | |
|:---|:---|
| **Year Ending January 31:** | **Maturity of<br>Operating<br>Lease Liabilities** |
|  | **(in thousands)** |
| 2026 (remaining) | $2678 |
| 2027 | 1895 |
| 2028 | 1813 |
| 2029 | 1382 |
| 2030 | 962 |
| Thereafter |  |
| Total | $8730 |
| &nbsp;&nbsp;Less: imputed interest | (1934) |
| Present value of lease liabilities | $6796 |
| &nbsp;&nbsp;Less: current obligations | (1187) |
| Long-term obligations under leases | $5609 |

---

**12.** **Commitments and Contingencies**

***Litigation***

From time to time, the Company may be involved in litigation related to claims arising out of operations in the normal course of business. The Company accrues a liability for such matters when it is probable that a liability has been incurred and the amount can be reasonably estimated. When only a range of possible loss can be established, the most probable amount in the range is accrued. If no amount within the range is a better estimate than any other amount within the range, the minimum amount in the range is accrued. The accrual for a litigation loss contingency might include, for example, estimates of potential damages, outside legal fees and other directly related costs expected to be incurred. As of July 31, 2025, and through the date these condensed consolidated financial statements were issued, there were no legal proceedings requiring recognition or disclosure in the condensed consolidated financial statements.

**13.** **Debt**

The carrying value of our non-current debt was as follows for the periods presented:

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| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **Effective** | **January 31,** | **July 31,** |
| **Instrument** | **Maturities** | **Interest Rate** | **2025** | **2025** |
|  |  |  | **(in thousands)** | **(in thousands)** |
| PPP loans |  | 0.00% | $952 | $919 |
| Senior Secured Notes | April 23, 2027 | 17.48% | 62061 | 12764 |
| Senior Secured Convertible Notes | April 23, 2027 | 15.41% |  | 107582 |
| Midwestern Notes | Varied | 3.07% - 5.00% | 11827 | 10904 |
| Visitor Reach Notes | Varied | 14.00% | 1000 | 1000 |
| Other notes payable | Varied | 1.6% - 25.8% | 374 | 4472 |
| &nbsp;&nbsp;Total |  |  | $76214 | $137641417 |
| Less: unamortized discount and issuance costs |  |  | 6078 | 7142 |
| Less: amounts due within one year |  |  | 3177 | 5011 |
| &nbsp;&nbsp;Total debt, non-current |  |  | $66959 | $125488 |

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As of January 31, 2025 and July 31, 2025, the Company had short-term borrowings from related parties totaling $1.0 million and $1.0 million, respectively, with a weighted average interest rate of 14%. The maximum and average outstanding borrowings during the periods presented were $1.0 million and $1.0 million, respectively. Refer to the Visitor Reach Notes below for additional information.

As of July 31, 2025, future principal payments for the Company's long-term debt were as follows:

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| | |
|:---|:---|
| **Year Ending January 31:** | **(in thousands)** |
| 2026 (remaining) | $3294 |
| 2027 | 2988 |
| 2028 | 121619 |
| 2029 | 1219 |
| 2030 | 2612 |
| Thereafter | 5909 |
| &nbsp;&nbsp;Total | $137641 |

---

***Paycheck Protection Program Loans***

During the year ended January 31, 2021, the Company received a Paycheck Protection Program ("PPP") loan in the amount of $4.9 million. During the year ended January 31, 2022, the Small Business Administration claimed that the Company did not qualify for forgiveness for $1.0 million of the PPP loan. In September 2024, the Company agreed on a payment plan with the SBA to pay the loan in 180 equal monthly installments starting September 25, 2024, including interest. As of July 31, 2025, the balance for the Paycheck Protection Program ("PPP") loan continued to be reflected as a liability on the consolidated balance sheet.

***Senior Secured Notes and Warrants***

On April 23, 2024, the Company entered into a promissory note purchase agreement (the "Note Purchase Agreement") authorizing the issuance of up to an aggregate principal amount of $70.0 million in secured promissory notes (the "Senior Secured Notes"). The Company issued $60.7 million and no Senior Secured Notes to multiple investors (the "Purchasers") during the periods ended January 31, 2025 and July 31, 2025, respectively. Issuances were primarily to related parties. For more information on related party debt see Note 17, *Related Party Transactions*. The Senior Secured Notes bear interest at a variable rate equal to the higher of 1-Month SOFR or 1.0%, plus 8.0% per annum. Interest is payable quarterly in arrears, comprising 8.0% cash interest and the remainder as payment-in-kind ("PIK Interest"). Upon the Purchaser electing to continue holding such Senior Secured Notes upon an event of default occurring (as defined in the Note Purchase Agreement), the obligations under the Senior Secured Notes will automatically bear interest at a rate equal to an additional 5.0% per annum over the rate otherwise applicable.

On June 23, 2025, the Company entered into an amended and restated note purchase agreement (the "Amended NPA") and provided Purchasers with the option to exchange their existing Senior Secured Notes for senior secured convertible notes under the Amended NPA (the "Senior Secured Convertible Notes"). Under this agreement, the terms of the Senior Secured Convertible Notes were amended to (1) increase the aggregate principal capacity to $130.0 million dollars, (2) revise certain default covenants, (3) introduce a new mandatory conversion feature that will automatically convert the Notes into common stock at the per share conversion price equal to the lesser of (i) 80% of the public offering price upon a qualified IPO and (ii) $30.00, and (4) eliminate the Warrant feature for all holders that enter into the new form of the Senior Secured Convertible Notes following the modification. Purchasers that elected to not participate in the Senior Secured Convertible Notes maintain their Warrants with no modifications to their terms.

As a result of the Amended NPA, the Company exchanged $50.6 million in principal of the Senior Secured Notes and the related Warrants for principal in the Senior Secured Convertible Notes. The Company determined that the fair value of the Senior Secured Convertible Notes was higher than the exchanged principal of the Senior Secured Notes, and as such, recorded the exchanged notes at their fair value of $58.5 million, inclusive of the embedded derivative discussed in further detail in Senior Secured Convertible Notes below. The exchange was

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accounted for as an accounting extinguishment under ASC 480, resulting in a net loss on debt extinguishment of $7.5 million for the period ended July 31, 2025, composed of both a gain on the extinguishment of Warrants and a loss related to the additional value received by the Purchasers through the exchange. For further information, see Senior Secured Convertible Notes below.

As of July 31, 2025, there were two Purchasers who had not exchanged their Senior Secured Notes and Warrants for the Senior Secured Convertible Notes, representing a total principal balance of $12.7 million, inclusive of PIK Interest.

All Senior Secured Notes are jointly and severally guaranteed by the Company's wholly owned subsidiaries. Further, the Senior Secured Notes issued to one of the Purchasers are personally guaranteed by the Company's principal stockholders, Scott and Theresa Beck as discussed further in Note 17, *Related Party Transactions*.

As additional consideration to the Purchasers for providing the financing with the Senior Secured Notes, the Company issued to each Purchaser warrants to purchase Series A preferred units at an exercise price of $6.00 per unit (the "Warrants"). The Warrants were initially recorded at fair value, with subsequent changes in fair value recognized in earnings. During the six months ended July 31, 2025, the Company extinguished $3.9 million of its Warrant liability in connection with the Amended NPA discussed above. As of July 31, 2025, there were 600,000 Warrants outstanding with a fair value of $0.8 million. Refer to Note 7, *Fair Value Measurements* for additional information.

During the six months ended July 31, 2024, total interest expense related to the Senior Secured Promissory Notes was $1.0 million, including $0.5 million of coupon interest; $0.3 million of PIK Interest; and $0.1 million of amortization of debt discounts and issuance costs. During the six months ended July 31, 2025, total interest expense was $4.2 million, including $2.1 million of coupon interest; $1.1 million of PIK Interest; and $1.0 million of amortization of debt discounts and issuance costs.

***Senior Secured Convertible Notes***

As described above, on June 23, 2025, the Company entered into the Amended NPA, which included an increased principal capacity, amended default covenants, an added conversion feature, and elimination of the Warrant for all exchanged Purchasers. The remaining terms of the Senior Secured Convertible Notes remain substantially unchanged from the Senior Secured Notes. Each Senior Secured Convertible Note states a principal amount equal to the holder's original funded principal plus accrued PIK Interest through June 23, 2025. The Senior Secured Convertible Notes bear interest at a variable rate equal to the higher of 1-Month SOFR or 1.0%, plus 8.0% per annum. Interest is payable quarterly in arrears, comprising 8.0% cash interest and the remainder as PIK Interest. In connection with the amendment, the Company entered into a new personal guaranty from Pearl Street Trust in favor of the holders of the Senior Secured Convertible Notes.

The Senior Secured Convertible Notes contain an embedded feature that is required to be bifurcated and accounted for separately as a derivative liability under *ASC Topic 815, Derivatives and Hedging ("ASC 815")*. This relates to the share-settled redemption feature that is not clearly and closely related to the debt host. The bifurcated derivative liability is recorded at fair value, with changes in fair value recognized in earnings, refer to Note 7, *Fair Value Measurements* for additional information for the Company's adjustments to fair value. The Company will continue to assess the fair value of this feature at each reporting date.

Following the exchange detailed above, the Company received additional proceeds of $57.0 million during the six months ended July 31, 2025. As discussed in Note 17, *Related Party Transactions*, the majority of the Senior Secured Convertible Notes were issued to current equity holders that are related parties of the Company and as such, the Company determined that the cash proceeds received were not indicative of fair value. Accordingly, the Company recorded the notes at their fair value of $65.8 million, inclusive of the embedded derivative above. The combination of the issuance of the notes and related derivative created a charge of $8.8 million, included within 'Other expenses, net' in the consolidated statement of operations.

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As of July 31, 2025, the Company had an outstanding principal balance of $108.0 million and a total estimated fair value of $132.4 million, inclusive of the bifurcated embedded derivative. The estimated fair value, which the Company deems Level 2 financial instruments, was determined by management based on an independent third-party valuation report.

During the six months ended July 31, 2025, the Company recognized $1.6 million in total interest expense, including $0.8 million of coupon interest, $0.4 million of PIK Interest, and $0.3 million of amortization of debt discounts and issuance costs.

***Midwestern Promissory Notes***

On January 3, 2025, the Company issued three promissory notes (the "Midwestern Notes") as partial consideration for its investment in Midwestern Interactive, LLC ("Midwestern"). The Midwestern Notes, which are prepayable at any time by the Company without penalty, consist of (1) a $2.4 million note bearing interest at 4.8%, issued to Mr. Johnson ("Seneca Note"), (2) a $6.5 million note bearing interest at 3.1%, issued to Flourish Holdings, Inc. ("Paden Note"), and (3) a $3.2 million note bearing interest at 5.0%, to Flourish Holdings, Inc. (the "Installment Note"). The Company is required to make monthly principal and interest payments on each of the notes. In the event the notes are not paid upon maturity, the obligations under the Midwestern Notes will automatically bear interest at a rate equal to an additional 5.0% per annum over the rate otherwise applicable. Refer to Note 17, *Related Party Transactions* for additional information.

As of July 31, 2025, the estimated fair value of the Midwestern Notes was $11.4 million. The estimated fair value of the notes, which the Company deems Level 2 financial instruments, was determined based on an independent third-party valuation report. During the six months ended July 31, 2025, total interest expense was $0.2 million.

***Visitor Reach Notes***

As of January 31, 2025, the Company's subsidiary, Visitor Reach, had entered into a series of subordinated loan agreements totaling $1.0 million (the "Visitor Reach Notes") with related parties and their affiliates, as discussed further in Note 17, *Related Party Transactions*, which are prepayable at any time by the Company without penalty. Each subordinated loan bears interest at a fixed annual rate of 14.0% and matures one year from the effective date of the respective agreement. The loans are unsecured, subordinated to all senior liabilities of Visitor Reach. The Visitor Reach Notes were recognized based on the proceeds received from issuance. No debt issuance costs were incurred in connection with the issuance of the Visitor Reach Notes. Interest expense associated with these notes is measured using the effective interest method.

As of January 31, 2025 and July 31, 2025, the carrying amount of the Visitor Reach Notes approximates their fair value due to the short-term nature of the instruments and the use of an interest rate that reflects market terms. Total interest expense was immaterial for the six months ended July 31, 2024 and 2025.

**14.** **Income Taxes**

The Company's effective tax rate for the six months ended July 31, 2024 and 2025 was 2.61% and 28.71%.

The effective tax rate for the six months ended July 31, 2024 and 2025 was primarily impacted by the following items: (i) the impairment of goodwill in the prior year, (ii) the business combination of Masterworks, Inc. in the current year, and, (iii) the mix of income generated among the jurisdictions in which the Company operates as Gloo Holdings, LLC is treated as a partnership and is not subject to U.S. federal and certain state and local income taxes. Accordingly, a separate estimated annual effective tax rate ("AETR") is computed and applied to ordinary losses in the applicable jurisdictions.

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On July 4, 2025, President Trump signed the One Big Beautiful Bill Act into law. This act makes permanent key elements of the Tax Cuts and Jobs Act, including 100% bonus depreciation, domestic research cost expensing, and the business interest expense limitation. According to ASC 740, "Income Taxes," the effects of changes in tax rates and laws on deferred tax balances must be recognized in the period in which the legislation is enacted. Consequently, as of the date of enactment, the Company is evaluating its impact on the financial statements.

The Company is treated as a partnership for U.S. Federal and most applicable state and local income tax purposes. As a partnership, the Company is not subject to U.S. Federal and certain state and local income taxes. Any taxable income or loss generated by the Company is passed through to and included in the taxable income or loss of its members. On January 2, 2024 and on July 3, 2025, the Company acquired 100% of the equity ownership of Outreach, Inc. and Masterworks, Inc. respectively, which are taxed as a C corporations and are subject to Federal and state income taxes and account for income taxes using the asset and liability method. On February 18, 2025, the Company acquired 100% of the equity ownership of Carry Nieuwhof Communications Ltd., a foreign corporation which is subject to income taxes in Canada and accounts for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases.

**15.** **Equity-Based Compensation**

***Options***

Options granted under the Membership Unit Option Plan (the "Plan") are equity classified. The fair value of each option on the grant date was estimated using a Black-Scholes option-pricing model. The weighted average estimated grant-date fair value of stock options granted during the six months ended July 31, 2024 and 2025 was $0.77 and $1.54 per unit, respectively. The weighted average assumptions used in the Black-Scholes model were as follows:

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| | | |
|:---|:---|:---|
|  | **Six Months Ended July 31,** | **Six Months Ended July 31,** |
|  | **2024** | **2025** |
| Risk-free rate | 4.3% | 4.1% |
| Dividend yield | 0.0% | 0.0% |
| Expected life (in years)<sup>(1)</sup> | 5.65 | 6.00 |
| Expected volatility<sup>(2)</sup> | 50.2% | 50.3% |

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(1)Expected life was estimated as the mid-point between the weighted-average vesting period and the contractual life of the option.

(2)Expected volatility was based on historical share price volatility for comparable public companies over a period equal to the expected life of the option.

A summary of the option activity for the six months ended July 31, 2025 is presented below:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Number of<br>Units** | **Weighted-<br>Average<br>Exercise Price** | **Weighted-<br>Average<br>Remaining<br>Contractual<br>Term (Years)** | **Aggregate<br>Intrinsic<br>Value** |
|  | **(in thousands, except weighted-average exercise price)** | **(in thousands, except weighted-average exercise price)** | **(in thousands, except weighted-average exercise price)** | **(in thousands, except weighted-average exercise price)** |
| Outstanding at January 31, 2025 | 9953 | $3.78 | 6.6 | $4816 |
| &nbsp;&nbsp;Granted | 5099 | 6.00 |  |  |
| &nbsp;&nbsp;Exercised | (48) | 1.35 |  |  |
| &nbsp;&nbsp;Forfeited | (197) | 4.05 |  |  |
| &nbsp;&nbsp;Expired | (538) | 3.02 |  |  |
| Outstanding at July 31, 2025 | 14269 | 4.61 | 7.4 | 5066 |
| Exercisable at July 31, 2025 | 6504 | $3.48 | 5.3 | $4881 |

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Total compensation cost related to options was $1.3 million and $1.9 million during the six months ended July 31, 2024 and 2025, respectively.

***Profits Units***

The Company did not issue profits units during the six months ended July 31, 2024 and 2025, respectively. Of the profits units outstanding as of July 31, 2025, 3,115,000 profits units vest as follows: 20.00% immediately, 20.00% nine months after the grant date, and 20.00% each anniversary thereafter. All other profits units vest 40.00% on the first vesting date, which ranges from 10 to 22 months after the grant date, with 20.00% vesting each anniversary thereafter. Certain awards provide for accelerated vesting of units upon a change in control or upon termination of the grantee.

As of July 31, 2025, all profits units are equity classified with the exception of 3,115,000 units which are liability classified. The liability-classified profits units provide the grantee with the right to require the Company to repurchase all or part of the units at any time following the grantee's termination at a price equal to four times the trailing 12-month EBITDA.

A summary of the nonvested profits units for the six months ended July 31, 2025 is presented below:

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| | | |
|:---|:---|:---|
|  | **Number<br>of Units** | **Weighted-<br>Average<br>Grant-Date<br>Fair Value<br>(per Unit)** |
|  | **(in thousands)** |  |
| Non-vested at January 31, 2025 | $7610 | $1.20 |
| &nbsp;&nbsp;Granted |  |  |
| &nbsp;&nbsp;Vested | (300) | 0.77 |
| &nbsp;&nbsp;Forfeited/Cancelled | (480) | 1.06 |
| Non-vested at July 31, 2025 | $6830 | $1.22 |

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The total fair value of profits units vested during the year ended January 31, 2025 and six months ended July 31, 2025 was approximately $1.7 million and $0.2 million, respectively.

The Company recognized compensation cost related to profits units of approximately $1.5 million and $1.2 million during the six months ended July 31, 2024 and 2025, respectively.

***Equity Notes Receivable***

In July 2014, the Company entered into Common Unit Purchase Agreements ("CUP Agreements") and issued 2,709,574 common membership units ("Common Units") at a purchase price of $0.20 per unit. The employees financed their purchases using proceeds from the Equity Notes Receivable, which are non-recourse in nature. For accounting purposes, the Common Units are treated as in-substance stock options. The Common Units are not considered outstanding for accounting purposes until the Equity Notes Receivable are settled.

As of July 31, 2025, none of the Common Units had been forfeited. The Company did not recognize any equity-based compensation expense related to the Common Units during the six months ended July 31, 2024 and 2025.

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***VR Call Options***

On December 31, 2024 (the "VR Call Option Grant Date"), the Company entered into the VR Call Options with certain co-founders of Visitor Reach in connection with the Company's acquisition of a majority interest in Visitor Reach.

A summary of the option activity for the six months ended July 31, 2025, is presented below:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Number<br>of Units** | **Weighted-<br>Average<br>Exercise<br>Price** | **Weighted-<br>Average<br>Contractual<br>Term<br>(Years)** | **Aggregate<br>Intrinsic<br>Value** |
|  | **(in thousands)** |  |  | **(in thousands)** |
| Outstanding at January 31, 2025 | 332 | $1506 | 3.9 | $1555 |
| &nbsp;&nbsp;Granted |  |  |  |  |
| &nbsp;&nbsp;Exercised |  |  |  |  |
| &nbsp;&nbsp;Forfeited/Cancelled |  |  |  |  |
| &nbsp;&nbsp;Expired |  |  |  |  |
| Outstanding at July 31, 2025 | 332 | $1506 | 3.4 | $1555 |

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During the six months ended July 31, 2025, the options were not yet exercisable, and therefore the Company did not receive any cash from exercises. The Company recognized $0.2 million in compensation expense related to the VR call options during the six months ended July 31, 2025. Unrecognized compensation expense of $1.3 million related to these options remains to be recognized over the requisite service period of three years.

**16.** **Members' Deficit**

The total number of units of all classes of units for which the Company shall have authority to issue is 39,667,849 Common Units, with no par value and 117,751,845 Series A preferred units, with no par value.

The Company's board of directors has additionally authorized the Company to issue the number of Common Units required at such time the Senior Secured Convertible Notes become convertible in the event of a qualified IPO, as further discussed in Note 13, *Debt*.

***Common Units***

At January 31, 2025 and July 31, 2025, the Company had 24,603,574 and 24,651,074 Common Units outstanding, respectively. During the six months ended July 31, 2025, the Company issued 47,500 of the Company's Common Units as a result of option exercises. Refer to Note 15, *Equity-Based Compensation*, for additional information.

***Series A Preferred Units***

At January 31, 2025 and July 31, 2025, there were 117,751,845 and 115,368,634 Series A preferred units outstanding, respectively, excluding 63,172 units held by consolidated subsidiaries of the Company as of July 31, 2025. Such units are accounted for as an investment in parent at the subsidiaries and are treated as treasury shares for accounting purposes in the Company's consolidated financial statements.

During the year ended January 31, 2025 and six months ended July 31, 2025, the Company issued 54,168 and 100,000 Series A preferred units for total cash proceeds of $0.3 million and $0.6 million, respectively. The Company did not incur any issuance costs during the year ended January 31, 2025 or six months ended July 31, 2025.

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In conjunction with the Masterworks Acquisition described in Note 4, *Business Combinations*, in March 2025, the Company issued 613,961 Series A preferred units as consideration, deemed to have a fair value of approximately $2.7 million.

In conjunction with the Servant Acquisition described in Note 4, *Business Combinations*, in February 2025, the Company issued 689,550 Series A preferred units as consideration, deemed to have a fair value of approximately $2.8 million. Prior to the Servant Acquisition, Servant held 63,172 Series A preferred units in the Company. Upon acquisition, the units are accounted for as an investment in parent at the subsidiary and are treated as treasury shares for accounting purposes in the Company's consolidated financial statements.

In conjunction with the Barna Acquisition described in Note 4, *Business Combinations*, in February 2025, the Company issued 566,667 Series A preferred units as consideration, deemed to have a fair value of approximately $2.3 million.

In conjunction with the CNCL Acquisition described in Note 4, *Business Combinations*, in February 2025, the Company issued to the sellers 592,991 units of CNCL, which are exchangeable into the Company's Series A preferred units ("Exchangeable Shares"), as consideration, deemed to have a fair value of approximately $3.4 million at the time of issuance. Refer to the *Exchangeable Shares* section below for additional information.

In conjunction with the Company's investment in Midwestern described in Note 5*, Equity Method Investments*, in January 2025, the Company issued 2,083,333 Series A preferred units as consideration, deemed to have a fair value of approximately $8.5 million.

The Series A preferred units will mandatorily convert into Common Units upon (1) election by members holding more than fifty percent of the Series A preferred units, voting as a separate class, to convert all Series A preferred units into Common Units or (2) the closing of a qualified IPO that raises at least $50.0 million in gross proceeds (a "Qualified IPO").

These units bear a cumulative dividend of 6.00% per annum on their original issue price. The Company had $71.6 million and $86.6 million in unpaid undeclared cumulative dividends to Series A preferred unit holders as of January 31, 2025, and July 31, 2025, respectively, representing approximately $0.63 and $0.75 per Series A preferred unit, respectively. Each unit votes together with Common Units on an as-converted basis and, voting separately as a class, on matters adversely affecting its rights.

In the event of any liquidation or dissolution of the Company, either voluntary or involuntary, the Series A preferred units rank senior to all other equity classes, each having a liquidation preference of their original issue price plus accrued and unpaid dividends. As of January 31, 2025 and July 31, 2025, the Series A preferred units had an aggregate liquidation preference of $432.7 million and $459.7 million, respectively.

Beginning five years after the original issuance, holders may require the Company to redeem their Series A preferred units for cash equal to four times trailing-twelve-month EBITDA, payable in three equal annual installments. The Company may also call the Series A preferred units at fair market value after seven years, subject to specified board and unitholder approvals. The Company does not have any fixed redemptions in the five years following July 31, 2025.

The Series A preferred units issued and outstanding are accounted for as redeemable units in the mezzanine section on the Company's consolidated balance sheets as the units are redeemable outside of the Company's control. The Company has elected to adjust the carrying value of the redeemable Series A preferred units to its maximum redemption value at each reporting date, with the value being the greater of the initial cost of the units or its redemption value. As of July 31, 2025, the redemption value of the Series A preferred units was less than the carrying value.

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***Exchangeable Shares***

As of January 31, 2025 there were no Exchangeable Shares outstanding, and as of July 31, 2025, there were 592,991 Exchangeable Shares outstanding. The Company determined that the Exchangeable Shares should be treated as a contract to issue the Company's Series A preferred units and is recorded to other non-current liabilities in the Company's consolidated balance sheets in accordance with ASC 480. The Exchangeable Shares were initially measured at fair value and are subsequently remeasured every reporting period. See Note 7, *Fair Value Measurements,* for further detail.

The Exchangeable Shares are substantially the economic equivalent of the Company's Series A preferred units. The Exchangeable Shares do not carry general voting rights at meetings of stockholders of CNCL or the Company, except in limited circumstances where class voting is required by law or in connection with certain amendments affecting the Exchangeable Shares.

*Exchange Rights*

Each Exchangeable Share is exchangeable, at the option of the holder, for one Series A preferred unit. The exchange may also be triggered automatically upon certain events, including liquidation, redemption, or retraction of the Exchangeable Shares, or in connection with a change of control of the Company or CNCL. Upon exchange, holders are entitled to receive one Series A preferred unit per Exchangeable Share, plus any declared and unpaid distributions as of the exchange date. The Company is required to reserve and keep available for issuance a sufficient number of Series A preferred units to satisfy all outstanding Exchangeable Shares.

*Dividends and Distributions*

Dividends or other distributions on the Exchangeable Shares are declared and paid only if, and to the extent that, an equivalent distribution is declared and paid on the underlying Series A preferred units. The amount and form of any distribution on the Exchangeable Shares is intended to be economically equivalent to the distribution on the Series A preferred units including the same declaration date, record date, and payment date. Holders are entitled to receive the Canadian dollar equivalent of such distribution on a per share basis.

In the event a dividend is declared on the Series A preferred units, the Company has the option to purchase from each holder a number of Exchangeable Shares equal in value to the declared dividend amount in cash.

**17.** **Related Party Transactions**

The Company has entered into a number of transactions with entities affiliated with members of its board of directors and other related parties, as described in the Company's historical consolidated financial statements for the years ended January 31, 2025 and the six months ended July 31, 2025*.* 

*Visitor Reach Notes*

As discussed in Note 13*, Debt*, in the year ended January 31, 2025, the Company's subsidiary, Visitor Reach, entered into a series of subordinated loan agreements totaling $1.0 million (the "Visitor Reach Notes") with related parties and their affiliates, including Howard Rachinski, the subsidiary's chief executive officer. Each subordinated loan bears interest at a fixed annual rate of 14.0% and matures one year from the effective date of the respective agreement. As of July 31, 2025, $0.2 million is currently due to a minority stockholder.

*Midwestern Notes*

As discussed in Note 4*, Business Combinations*, and Note 13, *Debt*, on January 3, 2025, the Company issued the Midwestern Notes as partial consideration for its acquisition of Midwestern. The Midwestern Notes, which are prepayable at any time by the Company without penalty, consist of (1) a $2.4 million note bearing interest at 4.8%, issued to Mr. Johnson, (2) a $6.5 million note bearing interest at 3.1%, issued to Flourish Holdings, Inc., and (3) a $3.2 million note bearing interest at 5.0%, to Flourish Holdings, Inc. Mr. Johnson is the chief executive officer of Midwestern, one of the Company's consolidated subsidiaries, and is the sole owner of Flourish Holdings, Inc.

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*Member Advances*

During the six months ended July 31, 2025, the Company received advances (the "Member Advances") totaling approximately $1.7 million from Mr. Beck and $5.7 million from minority stockholders of the Company to address short-term working capital needs. The Member Advances were not subject to any contractual repayment obligation, whether in cash, equity, or other form, and were provided without any stated terms or conditions requiring repayment by the Company. On July 31, 2025, $0.7 million of Member Advances were applied to issue Senior Secured Convertible Notes. Refer to Note 13, *Debt* for additional information.

*Senior Secured Notes and Warrant Issuances*

As described in Note 13, *Debt*, on April 23, 2024, the Company entered into a Note Purchase Agreement with Pearl Street Trust and certain other purchasers, under which it issued Senior Secured Notes totaling $45.0 million to Pearl Street Trust across multiple tranches, each bearing interest at 8% plus a floating SOFR-based margin, with a floor of 1%, and maturing in April 2027. In connection with these issuances, the Company granted Warrants to purchase an aggregate of 2,250,000 Gloo Holdings, LLC common units at an exercise price of $6.00 per unit. All of the Senior Secured Notes and the Warrants held by Pearl Street Trust were exchanged into Senior Secured Convertible Notes, as discussed in Note 13, *Debt*.

On April 24, 2024, the Company issued a $10.0 million Senior Secured Note under the Note Purchase Agreement to FMAB Partners, LP ("FMAB"), an entity affiliated with Mr. Furst, who also served as collateral agent under the security agreement associated with the Note Purchase Agreement. In connection with the FMAB note, the Company issued Warrants to purchase 500,000 common units at $6.00 per unit. FMAB did not participate in the exchange of the Senior Secured Notes and the associated balance of $10.6 million, inclusive of PIK Interest, and the 500,000 Warrants remained outstanding as of July 31, 2025.

On the same date as the FMAB note issuance, Pearl Street Trust and Scott Beck jointly and severally guaranteed repayment of the FMAB note under a guaranty agreement, enforceable upon demand if a defined Event of Default remains uncured for at least 90 days.

During the year ended January 31, 2025, the Company issued additional Senior Secured Notes totaling $3.7 million, together with 184,000 related Warrants, to other minority stockholders. As of July 31, 2025, all but one of these stockholders had elected to participate in the exchange of the Senior Secured Notes.

*Senior Secured Convertible Notes*

As described in Note 13, *Debt*, on June 23, 2025, the Company entered into the Amended NPA and provided the holders of the Senior Secured Notes with the option to exchange their existing notes with Senior Secured Convertible Notes. In electing to participate in the exchange, the holders also gave up their associated Warrants.

In addition to exchanging its Senior Secured Notes and Warrants for Senior Secured Convertible Notes, the Company issued an additional $48.0 million of Senior Secured Convertible Notes to Pearl Street Trust in multiple tranches during July 2025. In July 2025, additional notes totaling $1.2 million were issued to other minority stockholders of the Company.

In connection with the Amended NPA, Pearl Street Trust guaranteed repayment of the issuances under the NPA, both exchanged and new, under a guaranty agreement, enforceable upon demand if a defined Event of Default remains uncured for at least 90 days.

In connection with the Senior Secured Convertible Note issuances to two of the Purchasers, Mr. Beck entered into a put option agreement. Under the agreement, the holder has the right, but not the obligation, to require Mr. Beck to purchase their note or any equity securities issued upon its conversion, for cash consideration equal to the outstanding principal and accrued interest as of the date of exercise during a two month window beginning February 1, 2026.

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*Series A Preferred Units Issued in Connection with Acquisitions and Related Transactions*

On April 29, 2024, the Company acquired certain assets of Christianity Today International for total consideration of $6.2 million, comprised of $1.4 million in cash and 666,667 Series A preferred units of Gloo Holdings, LLC. Two members of the Company's board of directors, Nona Jones and Bishop Claude Alexander, serve on the board of directors of Christianity Today but received no consideration in connection with the transaction.

In connection with the acquisition, on April 29, 2024, Mr. Beck and Pearl Street Trust entered into a put option agreement with Christianity Today International. Under this agreement, Mr. Beck and Pearl Street Trust jointly and severally agreed to purchase, upon demand, the Series A preferred units issued in the transaction at a price of $6.00 per unit. The option is exercisable during a 12-month period beginning May 1, 2027.

On August 1, 2024, Gloo Technologies, LLC, a wholly-owned subsidiary of the Company, acquired the Church Metrics platform from Life Covenant Church, Inc. for total consideration of $2,500,002, paid entirely in the form of 416,667 Series A preferred units of Gloo Holdings, LLC. Robert Gruenewald, a member of the Company's board of directors, also serves as a board member and vice president of Life Covenant Church.

In connection with the acquisition, Mr. Beck and Pearl Street Trust entered into a put option agreement with Life Covenant Church on August 1, 2024. Under the agreement, Pearl Street Trust and Scott Beck jointly and severally agreed to purchase, upon demand, the Series A preferred units issued in the transaction at a price of $6.00 per unit. The option is exercisable during a 12-month window beginning July 1, 2027, but may be accelerated upon a Qualified IPO resulting in proceeds of at least $50 million and a trading price of at least $15.00 per share of the Company's Class A common stock for 60 consecutive days.

On September 27, 2024, the Company acquired substantially all assets of InspireHub in exchange for 1,375,000 common units of Gloo Holdings, LLC, representing total consideration of $3,616,250. Jack Furst was a director of InspireHub.

On February 18, 2025, in connection with the Barna Acquisition discussed in Note 4, *Business Combinations*, Mr. Beck and Pearl Street Trust entered into a put option agreement with the sellers. Under the agreement, Mr. Beck and Pearl Street Trust jointly and severally agreed to purchase, upon demand, the Series A preferred units issued in the transaction at a price of $6.00 per unit. The option is exercisable during a 12-month window beginning February 18, 2028.

On March 12, 2025, in connection with the Servant Acquisition, Mr. Beck and Pearl Street Trust entered into put option agreements with two of the sellers. Under the agreement, Mr. Beck and Pearl Street Trust agreed to purchase, upon demand, the Series A preferred units received at a price of $6.00 per share during a 12-month exercise window beginning July 1, 2027.

*Leases*

The Company entered into two operating leases for the occupancy of office space in two separate building complexes in Boulder, Colorado, with an entity that is controlled by a member of management. The Company has evaluated the relationship with these related parties and concluded that the related party is not a variable interest entity because the Company has no direct ownership interest or relationship with the related party other than the leases. The leases both commenced on January 1, 2023, both having a term of three years with two three-year extension options. Upon the commencement of each extension term, the base rent shall be adjusted to reflect any percentage increase in the Consumer Price Index since the preceding reference index date. Following each such extension, the number of remaining extension terms shall be reduced accordingly, or eliminated if none remain. On both properties, the Company pays rent, real estate taxes, insurance, and operating expenses related to maintenance and operating costs that arise from the use of the property.

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On January 2, 2024, the Company acquired 100% of the equity ownership of Outreach Media, Inc. As part of this transaction, the Company acquired two operating leases for the occupancy of office and warehouse spaces in Colorado Springs, Colorado, each with entities controlled by a member of the subsidiary's management. The Company has evaluated the relationship with these related parties and concluded that the related party is not a variable interest entity because the Company has no direct ownership interest or relationship with the related party other than the leases. The leases both commenced on January 2, 2024, both having a term of seven years with no extension options. On one of the properties, the Company pays operating expenses related to maintenance and operating costs that arise from the use of the property. Additionally, the Company recognized an asset on both of the leases related to the fair value of the below-market component included in the acquired leases. The Company has determined that the leases are both operating leases.

On May 31, 2025, the Company completed the acquisition of Midwestern Interactive, LLC. In connection with this acquisition, the Company assumed four operating leases for the occupancy of office space with an entity owned by Midwestern's Chief Executive Officer. Each of the leases has a remaining term of five years. The Company has determined that the leases are operating leases.

Operating lease cost related to these related party leases recognized for the year ended January 31, 2025 and the period ended July 31, 2025 was $1.0 million and $0.6 million, respectively. The operating lease cost was allocated to General and administrative in the condensed consolidated statements of operations. The related party operating lease right-of-use assets as of January 31, 2025 and July 31, 2025 were $3.6 million and $4.7 million, respectively, in the condensed consolidated balance sheets. The current and long-term portions of the related party lease liabilities as of January 31, 2025, were $0.5 million and $3.1 million, respectively, and were recognized within the current and non-current lease liability in the condensed consolidated balance sheets. The current and long-term portions of the related party lease liabilities as of July 31, 2025, were $0.7 million and $4.0 million, respectively, and were recognized within the current and non-current lease liability in the condensed consolidated balance sheets.

*Revenue and Revenue-Sharing Arrangements* 

In addition, the Company entered into a revenue-sharing agreement with one of its equity method investees. Under this agreement, the Company provides sales support services, marketing and other services to the end-customer. During the fiscal year ended January 31, 2025 the Company generated revenues under this agreement of $1.4 million, and for the six months ended July 31, 2025 the revenue generated was immaterial.

*Vendor Agreements* 

During the year ended January 31, 2025 and the six months ended July 31, 2025, the Company incurred expenses of $0.4 million and $1.6 million, respectively, in connection with strategic and executive consulting services provided under vendor agreements with a related party. These services were rendered by an entity that is controlled by the chief executive officer of the Company.

On February 1, 2025, the Company entered into a services agreement pursuant to which a related party will provide strategic consulting and advisory services in exchange for an option to purchase 333,333 common units of Gloo Holdings, LLC at an exercise price of $6.00 per unit. The units subject to the option vest in equal monthly installments over a four-year period, contingent upon the continued provision of services. The services are being provided by an entity wholly owned and controlled by Mr. Gruenewald.

During the six months ended July 31, 2025, the Company incurred expenses of $2.1 million in connection with engineering staffing services received from one of its equity method investees. These services supported the development, maintenance, and enhancement of the Company's AI platform.

*Other Transactions*

During the six months ended July 31, 2025, one of the Company's subsidiaries generated revenue of $0.5 million for services rendered to YouVersion, Inc., an entity in which a member of the Company's board of directors is also the chief executive officer.

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During the six months ended July 31, 2025, one of the Company's subsidiaries generated revenue of $1.4 million in connection with services provided to Come and See an entity of which the chairman of its board is one of the subsidiary's board members.

One of the Company's subsidiaries has entered into four month-to-month lease agreements with an entity that is controlled by the subsidiary's chief executive officer and minority stockholder. During six months ended July 31, 2025, total lease payments and expenses for these properties totaled $0.1 million.

**18.** **Net Loss Per Unit Attributable to Common Members**

The following table sets forth the computation of basic and diluted net loss per unit attributable to common members:

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| | | |
|:---|:---|:---|
|  | **Six Months Ended July 31,** | **Six Months Ended July 31,** |
|  | **2024** | **2025** |
|  | **(in thousands, except unit and per unit data)** | **(in thousands, except unit and per unit data)** |
| Numerator: |  |  |
| &nbsp;&nbsp;Net loss attributable to common members | (27394) | $(69751) |
| &nbsp;&nbsp;Less: Undeclared cumulative dividends on Series A Preferred Units | 10007 | 15029 |
| &nbsp;&nbsp;Less: Deemed dividend for conversion of Member Advance |  | 700 |
| &nbsp;&nbsp;Net loss attributable to common members, basic and diluted | (37401) | (85480) |
| Denominator: |  |  |
| &nbsp;&nbsp;Weighted average number of common units outstanding, basic and diluted | 22739574 | 24650701 |
| Net loss per unit attributable to common members, basic and diluted | $(1.64) | $(3.47) |

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The following potentially dilutive outstanding securities were excluded from the computation of diluted income (loss) per unit attributable to common members because their effect was anti-dilutive:

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| | | |
|:---|:---|:---|
|  | **Six Months Ended July 31,** | **Six Months Ended July 31,** |
|  | **2024** | **2025** |
| Options | 9591384 | 14269176 |
| Warrants | 2200000 | 600000 |
| Exchangeable Shares |  | 592991 |
| Senior Secured Convertible Notes <sup>(1)</sup> |  | 10758175 |
| Series A preferred units | 109179955 | 115431806 |
|  | 120971339 | 141652148 |

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(1)The contingently convertible Senior Secured Convertible Notes were not included for purposes of calculating the number of diluted shares outstanding as of July 31, 2025, as the number of dilutive shares is based on a conversion ratio associated with the pricing of a qualified IPO. Therefore, the Senior Secured Convertible Notes, conversion ratio, and the resulting number of dilutive shares, is not determinable until the contingency is resolved.

**19.** **Segment Reporting**

The Company operates as a single operating segment, the Gloo segment, consistent with how its CODM, Co-Founder and CEO, Scott Beck, reviews financial information and allocates resources. The Company primarily derives its revenue within the United States by providing a breadth of products, services and solutions to the faith-based ecosystem.

The CODM uses revenue, operating expenses, and net loss as reported in our condensed consolidated statements of operations to identify underlying trends in the performance of our business, make comparisons with the financial performance of our competitors, and determine how to allocate resources of the Company as a whole. The CODM does not review assets in evaluating the results of the Gloo segment, and therefore, such information is not repeated in this disclosure.

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The following table presents the significant expenses and other segment items of the Gloo segment, as regularly reviewed by our CODM:

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| | | |
|:---|:---|:---|
|  | **Six Months Ended July 31,** | **Six Months Ended July 31,** |
|  | **2024** | **2025** |
|  | **(in thousands)** | **(in thousands)** |
| Revenue | $10597 | $28475 |
| Less: |  |  |
| &nbsp;&nbsp;Cost of revenue (exclusive of depreciation and amortization) | 9394 | 20968 |
| &nbsp;&nbsp;Depreciation and amortization | 3611 | 5200 |
| &nbsp;&nbsp;Hosting and software | 1382 | 2194 |
| &nbsp;&nbsp;Insurance | 92 | 117 |
| &nbsp;&nbsp;Maintenance and equipment | 112 | 342 |
| &nbsp;&nbsp;Outside services | 2302 | 2691 |
| &nbsp;&nbsp;Payroll and benefits | 14893 | 28262 |
| &nbsp;&nbsp;Professional services | 806 | 3489 |
| &nbsp;&nbsp;Rent and utilities | 792 | 1425 |
| &nbsp;&nbsp;Advertising and marketing | 1955 | 3882 |
| &nbsp;&nbsp;Travel and entertainment | 653 | 2007 |
| &nbsp;&nbsp;Other operating expenses | 1477 | 4350 |
| &nbsp;&nbsp;Other segment expense <sup>(1)</sup> | 522 | 24606 |
| Net loss | $(27394) | $(71058) |

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(1)Other segment items primarily include interest expense; other income (expense), net; and income tax (expense) benefit as reported in our condensed consolidated statements of operations.

***Major Customers***

For the six months ended July 31, 2024 and 2025, no customer represented more than 10% of total revenue.

The following table sets forth the percentage of accounts receivable, net from the Company's largest customers that exceed 10% of its total accounts receivable, net and contract assets for the six months ended July 31, 2024 and 2025:

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| | |
|:---|:---|
|  | **Six Months Ended July 31,** |
|  | **2024** |
| Customer A | 34%<br> \* |
| Customer B | 22%<br> \* |

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*\* Customer did not represent 10% or more of accounts receivable, net during the respective period*

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**20.** **Subsequent Events**

The Company has identified the following subsequent events:

*Acquisitions*

On August 1, 2025, the Company entered into a unit purchase agreement with Flourish, LLC, pursuant to which the Company purchased from Flourish 52,500 Class B Units of Sermons Tech, LLC, a technology company that developed an AI-powered platform designed to enhance the capabilities of pastors and church staff through tools that support sermon content generation, worship planning, small group coordination, and digital engagement. Consideration for the purchase was approximately $0.6 million in cash and 1,000,000 Series A preferred units. The additional 52,500 Class B Units provided the Company with 100.00% of Sermons Tech. The Company expects to complete the preliminary purchase price allocations relating to this transaction in the fourth quarter of fiscal year 2025.

On August 22, 2025, the Company entered into a securities purchase agreement to acquire all outstanding equity interests of RT Creative Group LLC, d/b/a Igniter Media, a digital media company based in Texas that provides creative church media assets, including worship backgrounds, sermon illustrations and countdowns through its platforms Igniter Media, Lightstock, Igniter TV and Igniter Studios. On August 29, 2025, the Company completed the acquisition, which strengthens several of the Company's current product offerings. The contractual purchase price was approximately $9.4 million issued in cash and a promissory note, pending final valuation reports and subject to a net working capital adjustment. The Company expects to complete the preliminary purchase price allocations relating to this transaction in the fourth quarter of fiscal year 2025.

On August 30, 2025, the Company entered into a securities purchase agreement to acquire all outstanding equity interests in XRI Global, Inc., a language-technology company that supports low-resource and long-tail languages through dataset development, machine translation, and speech and text models, and which partners with faith-based, public health, and education organizations to extend technology access in underserved communities. The contractual purchase price is approximately $10.0 million, comprised of cash and Gloo equity, pending final valuation reports and subject to adjustments for indebtedness and net working capital. The transaction is expected to close in the fourth quarter of fiscal year 2025.

*Issuances Under the Amended and Restated Note Purchase Agreement*

Through various closings in August and September 2025, the Company issued an additional $14.3 million of Senior Secured Convertible Notes to multiple investors under the Amended NPA. Additionally, on August 1, 2025, $5.0 million of the Members' Advances received from minority stockholders during the six months ended July 31, 2025 were applied to issue Senior Secured Convertible Notes.

*First Amendment to Amended and Restated Note Purchase Agreement*

On September 5, 2025, the Company amended the terms of its Amended NPA dated June 23, 2025, pursuant to a first amendment to the Amended NPA (the "First Amended NPA"). Under the First Amended NPA, the Company's aggregate principal borrowing capacity under the facility was increased from $130.0 million dollars to $160.0 million.

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INDEPENDENT AUDITOR'S REPORT

Board of Managers

Gloo Holdings, LLC

831 Pearl Street

Boulder, Colorado

***Opinion***

We have audited the financial statements of Midwestern Interactive, LLC (the "Company"), which comprise the balance sheet as of December 31, 2024, and the related statements of operations and member's capital, and cash flows for the year then ended, and the related notes to the financial statements.

In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024, and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

***Substantial Doubt About the Company's Ability to Continue as a Going Concern*** 

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, in June 2025, the Company began to be consolidated into the financial statements of Gloo Holdings, LLC (the "Parent"). The Company has historically generated positive cash flows from operations. The Company has total assets at December 31, 2024, of $1.4 million, total liabilities of $3.8 million and a deficit of $2.4 million. The Parent has generated significant losses and negative cash flows from operations in recent years. The Company's cash flows are expected to be available to the Parent for its liquidity needs which are in excess of the liquidity the Company is expected to generate. In addition, management has stated that there is substantial doubt about the Company's ability to continue as a going concern. Management's evaluation of the events and conditions and management's plans regarding these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our opinion is not modified with respect to this matter.

***Responsibilities of Management for the Financial Statements***

Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for one year from the date the financial statements are available to be issued*.*

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***Auditor's Responsibilities for the Audit of the Financial Statements***

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS, we:

• Exercise professional judgment and maintain professional skepticism throughout the audit.

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Accordingly, no such opinion is expressed.

• Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.

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| | |
|:---|:---|
|  | /Crowe LLP/ |
| Los Angeles, California |  |
| July 23, 2025 |  |

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**Midwestern Interactive, LLC**

**Balance Sheet**

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| | |
|:---|:---|
|  | **As of** |
|  | **December 31, 2024** |
| **ASSETS** |  |
| Current assets: |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $532543 |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | 624088 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | 20451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 1177082 |
| Property and equipment, net | 190428 |
| ROU operating lease asset | 12379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total long-term assets | 202807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $1379889 |
| **LIABILITIES AND MEMBER'S DEFICIT** |  |
| Current liabilities: |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $11905 |
| &nbsp;&nbsp;&nbsp;Accrued compensation | 354453 |
| &nbsp;&nbsp;&nbsp;Accrued liabilities | 70865 |
| &nbsp;&nbsp;&nbsp;Line of credit | 196621 |
| &nbsp;&nbsp;&nbsp;Current portion of notes payable | 524059 |
| &nbsp;&nbsp;&nbsp;Current portion of lease liabilities - operating | 12692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 1170595 |
| Lease liabilities - operating |  |
| Notes payable, net of current portion | 2625982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 3796577 |
| Commitments and contingencies (See note 8) |  |
| Members deficit: |  |
| &nbsp;&nbsp;&nbsp;Member's deficit | (2416688) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and member's deficit | $1379889 |

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*The accompanying notes are an integral part of these financial statements.*

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**Midwestern Interactive, LLC**

**Statement of Operations and Members' Deficit**

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| | |
|:---|:---|
|  | **Year Ended** |
|  | **December 31, 2024** |
| Revenue | $11975344 |
| Operating expenses: |  |
| &nbsp;&nbsp;&nbsp;Cost of revenue | 8106407 |
| &nbsp;&nbsp;&nbsp;Sales and marketing | 423838 |
| &nbsp;&nbsp;&nbsp;General and administrative | 2317057 |
| &nbsp;&nbsp;&nbsp;Depreciation | 92553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 10939855 |
| Operating income | 1035489 |
| Other expense, net | 40839 |
| Interest expense | 306120 |
| Net income | 688530 |
| Member's deficit - beginning of period | (2264421) |
| &nbsp;&nbsp;&nbsp;Member distributions | (840797) |
| Member's deficit - end of period | $(2416688) |

---

*The accompanying notes are an integral part of these financial statements.*

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**Midwestern Interactive, LLC**

**Statement of Cash Flows**

---

| | |
|:---|:---|
|  | **Year Ended** |
|  | **December 31, 2024** |
| **Operating activities:** |  |
| Net income | $688530 |
| Adjustments to reconcile net income to operating activities: |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 92553 |
| &nbsp;&nbsp;&nbsp;Expected credit losses | 49581 |
| &nbsp;&nbsp;&nbsp;Non-cash change in ROU asset | 73624 |
| &nbsp;&nbsp;&nbsp;Notes payable origination fees | 33239 |
| &nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | 183238 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | 13776 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | (5758) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued compensation | 4770 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | (76326) |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease liabilities - operating | (75164) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net cash provided by operating activities** | 982063 |
| **Investing activities:** |  |
| &nbsp;&nbsp;&nbsp;Purchases of property and equipment | (14776) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net cash used investing activities** | (14776) |
| **Financing activities:** |  |
| &nbsp;&nbsp;&nbsp;Proceeds from line-of-credit and notes payable | 1008239 |
| &nbsp;&nbsp;&nbsp;Payments of line-of-credit and notes payable | (1767646) |
| &nbsp;&nbsp;&nbsp;Member distributions | (840797) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net cash used in financing activities** | (1600204) |
| **Net decrease in cash and cash equivalents** | $(632917) |
| **Cash and cash equivalents:** |  |
| &nbsp;&nbsp;&nbsp;**Beginning of period** | $1165460 |
| &nbsp;&nbsp;&nbsp;**End of period** | $532543 |
| **Supplemental disclosures of cash flow information** |  |
| &nbsp;&nbsp;&nbsp;Cash paid for interest | $306120 |

---

*The accompanying notes are an integral part of these financial statements.*

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**Notes to the Financial Statements**

**1.** **Nature of Business**

Midwestern Interactive, LLC (the "Company" or "Midwestern") is a software development firm headquartered in Missouri. The Company, a limited liability company, provides limited liability to its single member, who is not personally liable for obligations of the LLC, and represents a single class of equity, Founded in 2012, Midwestern operates in the custom software development industry, focusing on deploying consulting resources to create tailored software solutions, mobile applications, and branding strategies for various clients. The Company specializes in providing embedded teams for strategic planning, design, development, and implementation of software, mobile applications, branding, and content processes.

*Going Concern*

In June 2025, the Company began to be consolidated into the financial statements of Gloo Holdings, LLC ("Gloo" or "Parent"). The Company has historically generated positive cash flows from operations. The Company has total assets at December 31, 2024 of $1.4 million, total liabilities of $3.8 million and a deficit of $2.4 million. The Parent has generated significant losses and negative cash flows from operations in recent years. The Company's cash flows are expected to be available to the Parent for its liquidity needs which are in excess of the liquidity the Company is expected to generate. Therefore, the going concern assessment of the company is dependent on the Parent's consolidated liquidity.

Since inception, Parent has incurred cumulative losses from operations. Parent has funded its operations and capital needs primarily through net proceeds received from the sale of preferred and common units and proceeds from long-term debt. Parent management believes it will be able to obtain additional capital to fund its operations, however, there are no assurances that the Parent will be able to raise additional capital on terms acceptable to the Parent or at all. If the Parent's plans are not implemented on a timely basis, management may delay or modify our business plans, potentially including the timing of planned capital expenditures, development and other planned activities, all of which, individually or in the aggregate, could have material negative consequences to us and our results of operations and business relationships.

In connection with the preparation of these financial statements, management evaluated conditions and events known and reasonably knowable that could adversely affect the Company's ability to meet its obligations through at least a year from the date the financial statements were available to be issued.

Based on these factors, management has concluded there is substantial doubt about the Company's ability to continue as a going concern for at least twelve months from the date the financial statement is available to be issued.

The financial statements have been prepared on a basis that assume the Company will continue as a going concern and do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.

**2.** **Summary of Significant Accounting Policies**

*Basis of Presentation*

The financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") and Regulation S-X of the Securities Act of 1933, as amended. The accompanying financial statements include all the accounts of the Company. The financial statements are presented in U.S. dollars, which is also the Company's functional currency.

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*Use of Estimates*

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Management evaluates these estimates, judgments and assumptions on an ongoing basis.

Estimates are based on historical and anticipated results and trends, and on various other assumptions the Company believes are reasonable under the circumstances, including assumptions as to future events. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates, and any such differences may be material to the Company's financial statements.

*Risks and Uncertainties* 

The Company's future results of operations involve a number of risks and uncertainties. Factors that could affect the Company's future operating results and cause actual results to differ materially from expectations include, but are not limited to, competition, changes in regulations, dependence on key personnel, and the Company's ability to fund and manage growth.

*Cash and Cash Equivalents* 

The Company considers all highly liquid investments available for current use with an initial maturity of three months or less to be cash equivalents. Cash equivalents include on-demand money market accounts.

*Accounts receivable, Net*

Accounts receivable, are reduced by an allowance for credit losses that reflects management's best estimate of amounts that will not be collected. An allowance for credit losses is established for amounts expected to be uncollectible over the contractual life of the receivables. The Company evaluates trade receivables to determine the allowance for credit losses based on the financial condition of its customers. The Company calculates the allowance using an expected loss model that considers the Company's actual historical loss rates adjusted for current economic conditions and reasonable and supportable forecasts. Uncollectible amounts are written off against the allowance in the period they are determined to be uncollectible. Recoveries of amounts previously written off are recognized when received. As of December 31, 2024, the allowance for credit losses was $25,529.

*Prepaid Expenses and Other Assets*

Prepaid expenses consist of various payments that the Company has made in advance for goods or services to be received in the future and consists primarily of prepaid insurance, license fees, and other expenses.

*Credit Risk and Major Customers*

The Company maintains its cash balances at a financial institution located in southwest Missouri. Accounts held by the institution are insured by the Federal Deposit Insurance Corporation ("FDIC") up to $250,000. The Company's cash balances at times may exceed the insured limits, and as of December 31, 2024, there was approximately $268,391 of uninsured cash.

Sales in the normal course of business are to customers located predominantly in the United States. The Company extends trade credit to its customers on terms that are generally practiced in the industry.

Three customers comprise approximately 53% of total 2024 revenue. Subsequent to year-end, one of these customers, Gloo Holdings, LLC, became a related party. See note 9 for further discussion of the transaction. Four customers comprise approximately about 76% of total accounts receivable as of December 31, 2024.

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*Leases*

The Company's leases are primarily operating leases for office facilities. The Company determines if an arrangement is a lease or contains a lease at lease inception. The Company classifies the lease as either a finance or operating lease at lease commencement. As of December 31, 2024, the Company did not have any finance lease arrangements. Operating leases are included in right-of-use ("ROU") operating lease asset, current portion of lease liabilities – operating, Lease liabilities – operating, on the Company's balance sheet.

Operating lease liabilities are recognized at the lease commencement date based on the present value of the future lease payments over the lease term. The Company's lease terms may include options to extend or terminate the lease when it is reasonably certain the Company will exercise that option. The Company accounts for the lease and non-lease components as a single lease component for the Company's operating leases.

The Company measures ROU assets based on the corresponding lease liabilities adjusted for any initial direct costs and prepaid lease payments made to the lessor before or at the commencement date, net of lease incentives. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Variable lease payments are not included in the calculation of the ROU asset and lease liability and are recognized as lease expense as incurred. The Company's variable lease payments generally relate to payments affected by the Consumer Price Index and payments for maintenance and utilities.

The Company applies the short-term lease recognition exemption for leases with a lease term of 12 months or less, excluding those leases from the balance sheet and recognized related payments on a straight-line basis over the lease term.

*Property and Equipment, Net*

Property and equipment are recorded at cost, net of accumulated depreciation. Expenditures for maintenance and repairs are charged to expense as incurred. Depreciation is computed using the straight-line method over the following estimated useful lives:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Computer equipment – five years

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Furniture and equipment – seven years

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Vehicles – five to seven years

Upon disposition, the cost of disposed assets and the related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is recorded to other expense, net in the Statement of Operations.

*Impairment of Long-Lived Assets*

The Company reviews its long-lived assets, primarily consisting of property and equipment, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of the asset is measured by comparison of its carrying amount to undiscounted future net cash flows the asset is expected to generate. If such assets are considered to be impaired, the impairment recognized is measured as the amount by which the carrying amount of the asset exceeds its estimated fair value. Estimates of expected future cash flows represent management's best estimate based on currently available information and reasonable and supportable assumptions. Any impairment recognized is permanent and may not be restored. The Company did not record any impairment charges on its long-lived assets for the year ended December 31, 2024.

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*Revenue Recognition*

Revenue is recognized upon transfer of control of promised services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those services. Revenue also excludes any amounts collected on behalf of third parties, including sales and indirect taxes. The Company determines the amount of revenue to be recognized through application of the following steps:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Identify the contract(s) with a customer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Identify the performance obligations in the contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Determine the transaction price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Allocate the transaction price to the performance obligations in the contract; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Recognize revenue when (or as) the Company satisfies a performance obligation.

In arrangements in which the Company has multiple performance obligations, the transaction price is allocated to each performance obligation using the relative stand-alone selling price. Management generally determines stand-alone selling prices based on the prices charged to customers in arrangements without multiple performance obligations.

The Company derives revenue from professional service offerings to customers. These services are primarily fixed fee engagements for a set number of services hours, or scoped engagements with a projected set of hours that are billed as time is committed to a project. For fixed fee engagements, which have a stand-ready obligation, revenue is measured over time elapsed and recognized ratably over the contractual service period as the performance obligation is satisfied. For scoped engagements, revenue is measured utilizing service hours that have been rendered over the contractual service period as the scope of the engagement is completed.

Customer payments for professional services are generally billed over the contractual term. Although certain contracts extended beyond twelve months, the Company performed services consistently over time and concluded that no significant financing component exists.

Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue.

The Company evaluates whether two or more contracts should be combined and accounted for as one single performance obligation and whether a single contract should be accounted for as more than one performance obligation. Accounting Standards Codification 606 defines a performance obligation as a contractual promise to transfer a distinct good or service to a customer. A contract's transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The Company's evaluation requires significant judgment and the decision to combine a group of contracts or separate a contract into multiple performance obligations could change the amount of revenue and profit recorded in a given period. The majority of the Company's contracts have a single performance obligation, as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contract and, therefore, is not distinct.

*Costs to Obtain Revenue Contracts*

As a practical expedient, the Company recognizes the incremental costs of obtaining contracts, such as sales commissions, as expenses when incurred if the amortization period is one year or less.

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*Deferred Revenue* 

For transactions in which there is significant outstanding obligation, the associated revenue is recorded as deferred revenue and recognized one such obligation is fulfilled. There were not any deferred revenue obligations outstanding as of December 31, 2024.

*General and Administrative Expenses*

General and administrative expenses consist primarily of personnel and related costs for executive, finance, legal, human resources, and administrative personnel, including salaries, benefits; legal, accounting, and other professional service fees; other corporate expenses; information technology costs; and facility costs.

*Advertising* 

The Company expenses the cost of advertising as incurred. Included in sales and marketing expenses on the statement of operations are charges for advertising of $33,832 for the year ended December 31, 2024.

*Income Taxes*

The Company's members have elected to have the Company's income taxed as an S corporation under the provisions of the Internal Revenue Code and similar sections of state and local law. Any taxable income or loss generated by the Company is passed through to and included in the taxable income or loss of its members, and no provision for any income taxes are included in these financial statements.

In accordance with authoritative guidance on accounting for and disclosure of uncertainty in tax positions, the Company follows a more likely than not measurement methodology to reflect the financial statement impact of uncertain tax positions taken or expected to be taken in a tax return. For tax positions meeting the more-likely-than-not threshold, the tax liability recognized in the consolidated financial statements is reduced by the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant taxing authority. If tax authorities were to disallow any tax positions taken by the Company, the additional income taxes, if any, would be imposed on the members rather than the Company.

No amounts have been accrued for uncertain tax positions as of December 31, 2024. However, management's conclusions regarding uncertain tax positions may be subject to review and adjustment at a later date based on ongoing analyses of tax laws, regulations, and interpretations thereof, and other factors. The Company does not have any unrecognized tax benefits as of December 31, 2024, and does not expect that the total amount of unrecognized tax benefits will materially change over the next six months. Additionally, no interest or penalty related to uncertain taxes has been recognized in the accompanying financial statements.

The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal, state, and local jurisdictions, where applicable. If such examinations result in changes to income or loss, the tax liability of the Company could be changed accordingly.

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**3.** **Property and Equipment** 

Property and equipment consisted of the following:

---

| | |
|:---|:---|
|  | **As of December 31,<br>2024** |
| Computer equipment | $257431 |
| Furniture and equipment | 117930 |
| Vehicles | 179622 |
| &nbsp;&nbsp;&nbsp;Total property and equipment | 554983 |
| Less: accumulated depreciation | 364555 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | $190428 |

---

Depreciation expense was $92,553 for the year ended December 31, 2024.

**4.** **Line of Credit** 

The Company entered into a revolving line of credit loan on December 17, 2023, of up to $250,000. The line of credit is secured by a term life insurance policy of a former member. Interest is payable monthly and accrues at 7.25% and the unpaid principal balance is due at maturity on December 17, 2025.

**5.** **Notes Payable**

The Company entered into a short-term working capital note payable on February 15, 2024, and the total net amount advanced was $975,000, net of origination fees of $33,239, which are amortized over the life of the note. Interest and principal are payable in equal monthly installments until maturity.

The Company entered into two equipment financing agreements on June 29, 2023, for $341,582 and on November 2, 2021, for $150,324, both secured by the property and equipment purchased from proceeds. Principal and interest payments are payable in equal monthly installments until maturity.

The Company entered into a promissory note for $393,291 on April 24, 2024, secured by personal assets of the sole member of the Company. Principal and interest payments are payable in equal monthly installments monthly until maturity.

The Company entered into a promissory note for $2,700,000 on June 30, 2022. Proceeds were used to purchase the then remaining ownership interest of the Company from another former member. The promissory note is repayable in 83 equal monthly installments of $21,099 beginning on July 30, 2022, which include principal and interest, and a single balloon payment of $1,700,000 at maturity. The outstanding balance is secured by a term life insurance policy held by the current sole member of the Company.

Notes payable consisted of the following:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Agreement** |  |  | **As of December 31,** |
| **Instrument** | **Execution Date** | **Maturity** | **Interest Rate** | **2024** |
| Working capital note payable | February 15, 2024 | February 15, 2025 | 12.00% | $168040 |
| Equipment finance agreement | June 29, 2023 | June 29, 2026 | 7.70% | 180800 |
| Equipment finance agreement | November 2, 2021 | November 2, 2027 | 3.25% | 76783 |
| Promissory note | April 24, 2024 | April 24, 2029 | 8.95% | 350591 |
| Promissory note | June 30, 2022 | June 30, 2029 | 4.75% | 2373827 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total |  |  |  | 3150041 |
| Amounts due within one year |  |  |  | (524059) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total notes payable |  |  |  | $2625982 |

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As of December 31, 2024, future principal payments for the Company's notes payable were as follows:

---

| | |
|:---|:---|
| 2025 | $524059 |
| 2026 | 314390 |
| 2027 | 265323 |
| 2028 | 272965 |
| 2029 | 1773304 |
|  | $3150041 |

---

**6.** **Leases** 

The Company leases an office building in Springfield, Missouri under a non-cancellable operating lease arrangement, expiring in early 2025. The Company's leases generally provide for periodic rent increases and may contain escalation clauses and renewal options. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably certain at lease commencement. The Company's lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. The Company utilized a rate of 1.47% to recognize the operating lease liabilities at lease commencement date based on the present value of the future lease payments over the lease term.

Four of the Company's office buildings are leased from an entity controlled by the chief executive officer ("CEO") who is also the single member of the Company. These leases are on a month-to-month term basis and are not capitalized. For further details regarding these leases, refer to Note 7, *Related Party Transactions*.

---

| | |
|:---|:---|
|  | **For the Year Ended** |
|  | **December 31, 2024** |
| Operating lease costs | $73624 |
| Variable lease costs | 22910 |
| Total lease costs | $96534 |

---

**7.** **Related Party Transactions**

The Company has entered into four month-to-month lease agreements with an entity that is controlled by the CEO of the Company. Total lease payments and expenses for these properties totaled $588,711 for the year ended December 31, 2024. These leases are on a month-to-month term basis with monthly lease payments of approximately $49,060.

The Company has entered into various revenue agreements with a customer for which the CEO of the Company serves on the board of directors of the customer. Total revenue with this customer for the year ended December 31, 2024, was $429,100.

**8.** **Commitments and Contingencies**

*Litigation*

From time to time, the Company may be involved in litigation related to claims arising out of operations in the normal course of business. The Company accrues a liability for such matters when it is probable that a liability has been incurred, and the amount can be reasonably estimated. When only a range of possible loss can be established, the most probable amount in the range is accrued. If no amount within the range is a better estimate than any other amount within the range, the minimum amount in the range is accrued. The accrual for a litigation loss contingency might include, for example, estimates of potential damages, outside legal fees and other directly related costs expected to be incurred. As of December 31, 2024, and through the date these financial statements were issued, there were no legal proceedings requiring recognition or disclosure in the consolidated financial statements.

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**9.** **Evaluation of Subsequent Events**

Gloo Holdings, LLC ("Gloo") entered into a Securities Purchase Agreement ("SPA") on January 3, 2025, with the sole member of the Company, to acquire an 80% majority equity interest in the Company for a total purchase price of approximately $22.65 million. As part of the transaction, Gloo granted the sole member of the Company a call option to repurchase Gloo's interest in the Company beginning three years after the effective date.

On June 11, 2025, the Company was notified that Gloo amended its call option agreement with Flourish Holdings, Inc. ("NewCo"), the Company's minority interest holder. The amended agreement provides NewCo the right to repurchase a portion of Gloo's ownership units, which, if exercised, would reduce Gloo's interest in the Company to approximately 20%. The amendment also revised the consideration terms for the repurchase by establishing a fixed per-unit valuation that is payable through exchange of the following, required to be in this order: (1) Gloo Units received by NewCo as part of the Acquisition (deemed to have a value of $6.00 per unit), (2) the forgiveness of the then unpaid balance of the note issuances consummated as part of the original transaction, in any order or combination, and (3) cash, if any portion of the call price remains unpaid after applying the foregoing.

The Company has evaluated events subsequent to the balance sheet date of December 31, 2024, through the issuance of this report, which is the date the financial statements were available to be issued.

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**Midwestern Interactive, LLC**

**Balance Sheet**

**(Unaudited)**

---

| | |
|:---|:---|
|  | **As of** |
|  | **March 31, 2025** |
| **ASSETS** |  |
| Current assets: |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $1041331 |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | 751183 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | 20720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 1813234 |
| Property and equipment, net | 167768 |
| ROU operating lease asset | 1430113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total long-term assets | 1597881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $3411115 |
| **LIABILITIES AND MEMBERS' DEFICIT** |  |
| Current liabilities: |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $15939 |
| &nbsp;&nbsp;&nbsp;Accrued compensation | 313201 |
| &nbsp;&nbsp;&nbsp;Accrued liabilities | 76497 |
| &nbsp;&nbsp;&nbsp;Current portion of debt | 557182 |
| &nbsp;&nbsp;&nbsp;Current portion of lease liabilities - operating | 246526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 1209345 |
| Lease liabilities - operating | 1183587 |
| Notes payable, net of current portion | 2533429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 4926361 |
| Commitments and contingencies (See note 8) |  |
| Members' deficit: |  |
| &nbsp;&nbsp;&nbsp;Members' deficit | (1515246) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and members' deficit | $3411115 |

---

*The accompanying notes are an integral part of these financial statements.*

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**Midwestern Interactive, LLC**

**Statement of Operations and Members' Deficit**

**(Unaudited)**

---

| | |
|:---|:---|
|  | **Three Months Ended** |
|  | **March 31, 2025** |
| Revenue | $4058924 |
| Operating expenses: |  |
| &nbsp;&nbsp;&nbsp;Cost of revenue | 2460244 |
| &nbsp;&nbsp;&nbsp;Sales and marketing | 11833 |
| &nbsp;&nbsp;&nbsp;General and administrative | 664052 |
| &nbsp;&nbsp;&nbsp;Depreciation | 22659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 3158788 |
| Operating income | 900136 |
| Other expense, net | 2145 |
| Interest expense | 59845 |
| Net income | 838146 |
| Members' deficit - beginning of period | (2416688) |
| &nbsp;&nbsp;&nbsp;Member contributions | 63296 |
| Members' deficit - end of period | $(1515246) |

---

*The accompanying notes are an integral part of these financial statements.*

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**Midwestern Interactive, LLC**

**Statement of Cash Flows**

**(Unaudited)**

---

| | |
|:---|:---|
|  | **Three Months Ended** |
|  | **March 31, 2025** |
| **Operating activities:** |  |
| Net income | $838146 |
| Adjustments to reconcile net income to operating activities: |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 22659 |
| &nbsp;&nbsp;&nbsp;Expected credit losses | 5344 |
| &nbsp;&nbsp;&nbsp;Non-cash change in ROU asset | 12379 |
| &nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | (132440) |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | (269) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 4035 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued compensation | (41252) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | 5631 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease liabilities - operating | (12690) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net cash provided by operating activities** | 701543 |
| **Investing activities:** |  |
| &nbsp;&nbsp;&nbsp;Purchases of property and equipment |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net cash used investing activities** |  |
| **Financing activities:** |  |
| &nbsp;&nbsp;&nbsp;Payments of line-of-credit and notes payable | (256051) |
| &nbsp;&nbsp;&nbsp;Member contributions | 63296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net cash used in financing activities** | (192755) |
| **Net decrease in cash and cash equivalents** | $508788 |
| **Cash and cash equivalents:** |  |
| &nbsp;&nbsp;&nbsp;**Beginning of period** | $532543 |
| &nbsp;&nbsp;&nbsp;**End of period** | $1041331 |
| **Supplemental disclosures of cash flow information** |  |
| &nbsp;&nbsp;&nbsp;Cash paid for interest | $59845 |

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*The accompanying notes are an integral part of these financial statements.*

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**Notes to the Financial Statements**

**1.** **Nature of Business**

Midwestern Interactive, LLC (the "Company" or "Midwestern") is a software development firm headquartered in Missouri. The Company, a limited liability company, provides limited liability to its members, who is not personally liable for obligations of the LLC, and represents a single class of equity, Founded in 2012, Midwestern operates in the custom software development industry, focusing on deploying consulting resources to create tailored software solutions, mobile applications, and branding strategies for various clients. The Company specializes in providing embedded teams for strategic planning, design, development, and implementation of software, mobile applications, branding, and content processes.

*Going Concern*

In June 2025, the Company began to be consolidated into the financial statements of Gloo Holdings, LLC ("Gloo" or "Parent"). The Company has historically generated positive cash flows from operations. The Company has total assets at March 31, 2025 of $3.4 million, total liabilities of $4.9 million and a deficit of $1.5 million. The Parent has generated significant losses and negative cash flows from operations in recent years. The Company's cash flows are expected to be available to the Parent for its liquidity needs which are in excess of the liquidity the Company is expected to generate. Therefore, the going concern assessment of the company is dependent on the Parent's consolidated liquidity.

Since inception, Parent has incurred cumulative losses from operations. Parent has funded its operations and capital needs primarily through net proceeds received from the sale of preferred and common units and proceeds from long-term debt. Parent management believes it will be able to obtain additional capital to fund its operations, however, there are no assurances that the Parent will be able to raise additional capital on terms acceptable to the Parent or at all. If the Parent's plans are not implemented on a timely basis, management may delay or modify our business plans, potentially including the timing of planned capital expenditures, development and other planned activities, all of which, individually or in the aggregate, could have material negative consequences to us and our results of operations and business relationships.

In connection with the preparation of these financial statements, management evaluated conditions and events known and reasonably knowable that could adversely affect the Company's ability to meet its obligations through at least a year from the date the financial statements were available to be issued.

Based on these factors, management has concluded there is substantial doubt about the Company's ability to continue as a going concern for at least twelve months from the date the financial statement is available to be issued.

The financial statements have been prepared on a basis that assume the Company will continue as a going concern and do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.

**2.** **Summary of Significant Accounting Policies**

*Basis of Presentation*

The financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") and Regulation S-X of the Securities Act of 1933, as amended. The accompanying financial statements include all the accounts of the Company. The financial statements are presented in U.S. dollars, which is also the Company's functional currency.

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*Use of Estimates*

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Management evaluates these estimates, judgments and assumptions on an ongoing basis.

Estimates are based on historical and anticipated results and trends, and on various other assumptions the Company believes are reasonable under the circumstances, including assumptions as to future events. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates, and any such differences may be material to the Company's financial statements.

*Risks and Uncertainties* 

The Company's future results of operations involve a number of risks and uncertainties. Factors that could affect the Company's future operating results and cause actual results to differ materially from expectations include, but are not limited to, competition, changes in regulations, dependence on key personnel, and the Company's ability to fund and manage growth.

*Cash and Cash Equivalents* 

The Company considers all highly liquid investments available for current use with an initial maturity of three months or less to be cash equivalents. Cash equivalents include on-demand money market accounts.

*Accounts Receivable, Net*

Accounts receivable, are reduced by an allowance for credit losses that reflects management's best estimate of amounts that will not be collected. An allowance for credit losses is established for amounts expected to be uncollectible over the contractual life of the receivables. The Company evaluates trade receivables to determine the allowance for credit losses based on the financial condition of its customers. The Company calculates the allowance using an expected loss model that considers the Company's actual historical loss rates adjusted for current economic conditions and reasonable and supportable forecasts. Uncollectible amounts are written off against the allowance in the period they are determined to be uncollectible. Recoveries of amounts previously written off are recognized when received. As of March 31, 2025, the allowance for credit losses was $20,184.

*Prepaid Expenses and Other Assets*

Prepaid expenses consist of various payments that the Company has made in advance for goods or services to be received in the future and consists primarily of prepaid insurance, license fees, and other expenses.

*Credit Risk and Major Customers*

The Company maintains its cash balances at a financial institution located in southwest Missouri. Accounts held by the institution are insured by the Federal Deposit Insurance Corporation ("FDIC") up to $250,000. The Company's cash balances at times may exceed the insured limits, and as of March 31, 2025, there was approximately $775,337 of uninsured cash.

Sales in the normal course of business are to customers located predominantly in the United States. The Company extends trade credit to its customers on terms that are generally practiced in the industry.

Two customers comprise approximately 42% of the three months ending March 31, 2025 revenue. During the period, one of these customers, Gloo Holdings, LLC, became a related party. See note 9 for further discussion of the transaction. Three customers comprise approximately about 56% of total accounts receivable as of March 31, 2025.

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*Leases*

The Company's leases are primarily operating leases for office facilities. The Company determines if an arrangement is a lease or contains a lease at lease inception. The Company classifies the lease as either a finance or operating lease at lease commencement. As of March 31, 2025, the Company did not have any finance lease arrangements. Operating leases are included in right-of-use ("ROU") operating lease asset, current portion of lease liabilities – operating, lease liabilities – operating, on the Company's balance sheet.

Operating lease liabilities are recognized at the lease commencement date based on the present value of the future lease payments over the lease term. The Company's lease terms may include options to extend or terminate the lease when it is reasonably certain the Company will exercise that option. The Company accounts for the lease and non-lease components as a single lease component for the Company's operating leases.

The Company measures ROU assets based on the corresponding lease liabilities adjusted for any initial direct costs and prepaid lease payments made to the lessor before or at the commencement date, net of lease incentives. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Variable lease payments are not included in the calculation of the ROU asset and lease liability and are recognized as lease expense as incurred. The Company's variable lease payments generally relate to payments affected by the Consumer Price Index and payments for maintenance and utilities.

The Company applies the short-term lease recognition exemption for leases with a lease term of 12 months or less, excluding those leases from the balance sheet and recognized related payments on a straight-line basis over the lease term.

*Property and Equipment, Net*

Property and equipment are recorded at cost, net of accumulated depreciation. Expenditures for maintenance and repairs are charged to expense as incurred. Depreciation is computed using the straight-line method over the following estimated useful lives:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Computer equipment – five years

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Furniture and equipment – seven years

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Vehicles – five to seven years

Upon disposition, the cost of disposed assets and the related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is recorded to other expense, net in the Statement of Operations.

*Impairment of Long-Lived Assets*

The Company reviews its long-lived assets, primarily consisting of property and equipment, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of the asset is measured by comparison of its carrying amount to undiscounted future net cash flows the asset is expected to generate. If such assets are considered to be impaired, the impairment recognized is measured as the amount by which the carrying amount of the asset exceeds its estimated fair value. Estimates of expected future cash flows represent management's best estimate based on currently available information and reasonable and supportable assumptions. Any impairment recognized is permanent and may not be restored. The Company did not record any impairment charges on its long-lived assets for the three months ended March 31, 2025.

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*Revenue Recognition*

Revenue is recognized upon transfer of control of promised services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those services. Revenue also excludes any amounts collected on behalf of third parties, including sales and indirect taxes. The Company determines the amount of revenue to be recognized through application of the following steps:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Identify the contract(s) with a customer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Identify the performance obligations in the contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Determine the transaction price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Allocate the transaction price to the performance obligations in the contract; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Recognize revenue when (or as) the Company satisfies a performance obligation.

In arrangements in which the Company has multiple performance obligations, the transaction price is allocated to each performance obligation using the relative stand-alone selling price. Management generally determines stand-alone selling prices based on the prices charged to customers in arrangements without multiple performance obligations.

The Company derives revenue from professional service offerings to customers. These services are primarily fixed fee engagements for a set number of services hours, or scoped engagements with a projected set of hours that are billed as time is committed to a project. For fixed fee engagements, which have a stand-ready obligation, revenue is measured over time elapsed and recognized ratably over the contractual service period as the performance obligation is satisfied. For scoped engagements, revenue is measured utilizing service hours that have been rendered over the contractual service period as the scope of the engagement is completed.

Customer payments for professional services are generally billed over the contractual term. Although certain contracts extended beyond twelve months, the Company performed services consistently over time and concluded that no significant financing component exists.

Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue.

The Company evaluates whether two or more contracts should be combined and accounted for as one single performance obligation and whether a single contract should be accounted for as more than one performance obligation. Accounting Standards Codification 606 defines a performance obligation as a contractual promise to transfer a distinct good or service to a customer. A contract's transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The Company's evaluation requires significant judgment and the decision to combine a group of contracts or separate a contract into multiple performance obligations could change the amount of revenue and profit recorded in a given period. The majority of the Company's contracts have a single performance obligation, as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contract and, therefore, is not distinct.

*Costs to Obtain Revenue Contracts*

As a practical expedient, the Company recognizes the incremental costs of obtaining contracts, such as sales commissions, as expenses when incurred if the amortization period is one year or less.

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*Deferred Revenue* 

For transactions in which there is significant outstanding obligation, the associated revenue is recorded as deferred revenue and recognized one such obligation is fulfilled. There were not any deferred revenue obligations outstanding as of March 31, 2025.

*General and Administrative Expenses*

General and administrative expenses consist primarily of personnel and related costs for executive, finance, legal, human resources, and administrative personnel, including salaries, benefits; legal, accounting, and other professional service fees; other corporate expenses; information technology costs; and facility costs.

*Advertising* 

The Company expenses the cost of advertising as incurred. Included in sales and marketing expenses on the statement of operations are charges for advertising of $7,798 for the three months ended March 31, 2025.

*Income Taxes*

The Company's members have elected to have the Company's income taxed as an S corporation under the provisions of the Internal Revenue Code and similar sections of state and local law. Any taxable income or loss generated by the Company is passed through to and included in the taxable income or loss of its members, and no provision for any income taxes are included in these financial statements.

In accordance with authoritative guidance on accounting for and disclosure of uncertainty in tax positions, the Company follows a more likely than not measurement methodology to reflect the financial statement impact of uncertain tax positions taken or expected to be taken in a tax return. For tax positions meeting the more-likely-than-not threshold, the tax liability recognized in the consolidated financial statements is reduced by the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant taxing authority. If tax authorities were to disallow any tax positions taken by the Company, the additional income taxes, if any, would be imposed on the members rather than the Company.

No amounts have been accrued for uncertain tax positions as of March 31, 2025. However, management's conclusions regarding uncertain tax positions may be subject to review and adjustment at a later date based on ongoing analyses of tax laws, regulations, and interpretations thereof, and other factors. The Company does not have any unrecognized tax benefits as of March 31, 2025, and does not expect that the total amount of unrecognized tax benefits will materially change over the next six months. Additionally, no interest or penalty related to uncertain taxes has been recognized in the accompanying financial statements.

The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal, state, and local jurisdictions, where applicable. If such examinations result in changes to income or loss, the tax liability of the Company could be changed accordingly.

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**3.** **Property and Equipment**

Property and equipment consisted of the following:

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| | |
|:---|:---|
|  | **As of March 31,<br>2025** |
| Computer equipment | $257431 |
| Furniture and equipment | 117930 |
| Vehicles | 179621 |
| &nbsp;&nbsp;&nbsp;Total property and equipment | 554982 |
| Less: accumulated depreciation | (387214) |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | $167768 |

---

Depreciation expense was $22,659 for the three months ended March 31, 2025.

**4.** **Line of Credit**

The Company entered into a revolving line of credit loan on December 17, 2023, of up to $250,000. The line of credit is secured by a term life insurance policy of a former member. Interest is payable monthly and accrues at 4.25% and the unpaid principal balance is due at maturity on December 17, 2025. As of March 31, 2025, there were no amounts outstanding under the revolving line of credit.

**5.** **Notes Payable**

The Company entered into a short-term working capital note payable on February 15, 2024, and the total net amount advanced was $975,000, net of origination fees of $33,239, which are amortized over the life of the note. Interest and principal are payable in equal monthly installments until maturity.

The Company entered into two equipment financing agreements on June 29, 2023, for $341,582 and on November 2, 2021, for $150,324, both secured by the property and equipment purchased from proceeds. Principal and interest payments are payable in equal monthly installments until maturity.

The Company entered into a promissory note for $393,291 on April 24, 2024, secured by personal assets of the sole member of the Company. Principal and interest payments are payable in equal monthly installments monthly until maturity.

The Company entered into a promissory note for $2,700,000 on June 30, 2022. Proceeds were used to purchase the then remaining ownership interest of the Company from another former member. The promissory note is repayable in 83 equal monthly installments of $21,099 beginning on July 30, 2022, which include principal and interest, and a single balloon payment of $1,700,000 at maturity. The outstanding balance is secured by a term life insurance policy held by the current sole member of the Company.

Notes payable consisted of the following:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Agreement** |  |  | **As of March 31,** |
| **Instrument** | **Execution Date** | **Maturity** | **Interest Rate** | **2025** |
| Working capital note payable | December 17, 2021 | December 17, 2025 | 4.25% | $196621 |
| Equipment finance agreement | June 29, 2023 | June 29, 2026 | 7.70% | 152026 |
| Equipment finance agreement | November 2, 2021 | November 30, 2027 | 3.25% | 70464 |
| Promissory note | April 24, 2024 | April 24, 2029 | 8.95% | 332832 |
| Promissory note | June 30, 2022 | June 30, 2029 | 4.75% | 2338668 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total |  |  |  | 3090611 |
| Amounts due within one year |  |  |  | (557182) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total notes payable |  |  |  | $2533429 |

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As of March 31, 2025, future principal payments for the Company's notes payable were as follows:

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| | |
|:---|:---|
| 2025 | $494745 |
| 2026 | 304646 |
| 2027 | 263673 |
| 2028 | 255230 |
| 2029 | 1772317 |
|  | $3090611 |

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**6.** **Leases**

The Company leases an office building in Springfield, Missouri under a non-cancellable operating lease arrangement, expiring in early 2025. The Company's leases generally provide for periodic rent increases and may contain escalation clauses and renewal options. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably certain at lease commencement. The Company's lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. The Company utilized a rate of 1.47% to recognize the operating lease liabilities at lease commencement date based on the present value of the future lease payments over the lease term.

On January 3, 2025 the Company entered into four lease agreements with an entity controlled by the chief executive officer ("CEO") who is the Company's minority interest holder. For further details regarding these leases, refer to note 7 – Related Party Transactions.

The components of lease costs, lease term, and discount rate for operating leases are as follows for the three months ended March 31, 2025:

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| | |
|:---|:---|
|  | **For the Three Months Ended** |
|  | **March 31, 2025** |
| Operating lease costs | 106887 |
| Variable lease costs | 16181 |
| Total lease costs | $123068 |
| Weighted-average remaining lease term (in years) | 4.8 |
| Weighted-average discount rate | 10.21% |

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Supplemental balance sheet information related to operating leases consisted of the following as of March 31, 2025:

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| | |
|:---|:---|
|  | **For the Three Months Ended** |
|  | **March 31, 2025** |
| Operating lease ROU assets – related parties | 1430113 |
| Operating lease ROU assets – third parties | - |
| Total operating lease ROU assets | $1430113 |
| Operating lease liabilities – related parties | 1430113 |
| Operating lease liabilities – third parties | - |
| Total operating lease liabilities | $1430113 |

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Supplemental cash flow information related to operating leases were as follows:

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| | | |
|:---|:---|:---|
|  | **For the Three Months Ended** | **For the Three Months Ended** |
|  | **March 31, 2025** | **March 31, 2025** |
| Cash payments for operating leases | $— | 94500 |

---

The future maturities of long-term operating lease liabilities for each fiscal year are as follows:

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| | |
|:---|:---|
| **Three Months Ending March 31:** | **Maturity of Operating Lease Liabilities** |
| 2025 (remaining) | 283500 |
| 2026 | 378000 |
| 2027 | 378000 |
| 2028 | 378000 |
| 2029 | 378000 |
| Thereafter | - |
| Total | 1795500 |
| &nbsp;&nbsp;Less: imputed interest | (365387) |
| Present value of lease liabilities | 1430113 |
| &nbsp;&nbsp;Less: current obligations | (246526) |
| Long-term obligations under leases | $1183587 |

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**7.** **Related Party Transactions**

The Company has entered into four lease agreements with an entity that is controlled by the CEO of the Company. Total lease payments and expenses for these properties totaled $123,068 for the three months ended March 31, 2025. These leases have a five-year term basis with monthly lease payments of approximately $10,256.

The Company has entered into various revenue agreements with a customer for which the CEO of the Company serves on the board of directors of the customer. Additionally, the Company entered into various revenue agreements with related parties due to its acquisition by Gloo Holdings, LLC. Total revenue with the Company's related parties for the three months ended March 31, 2025, was $1,103,020.

**8.** **Commitments and Contingencies**

*Litigation*

From time to time, the Company may be involved in litigation related to claims arising out of operations in the normal course of business. The Company accrues a liability for such matters when it is probable that a liability has been incurred, and the amount can be reasonably estimated. When only a range of possible loss can be established, the most probable amount in the range is accrued. If no amount within the range is a better estimate than any other amount within the range, the minimum amount in the range is accrued. The accrual for a litigation loss contingency might include, for example, estimates of potential damages, outside legal fees and other directly related costs expected to be incurred. As of March 31, 2025, and through the date these financial statements were issued, there were no legal proceedings requiring recognition or disclosure in the consolidated financial statements.

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**9.** **Evaluation of Subsequent Events**

On June 11, 2025, the Company was notified that Gloo amended its call option agreement with Flourish Holdings, Inc. ("NewCo"), the Company's minority interest holder. The amended agreement provides NewCo the right to repurchase a portion of Gloo's ownership units, which, if exercised, would reduce Gloo's interest in the Company to approximately 20%. The amendment also revised the consideration terms for the repurchase by establishing a fixed per-unit valuation that is payable through exchange of the following, required to be in this order: (1) Gloo Units received by NewCo as part of the Acquisition (deemed to have a value of $6.00 per unit), (2) the forgiveness of the then unpaid balance of the note issuances consummated as part of the original transaction, in any order or combination, and (3) cash, if any portion of the call price remains unpaid after applying the foregoing.

The Company has evaluated events subsequent to the balance sheet date of March 31, 2025, through the issuance of this report on September 26, 2025, which is the date the financial statements were available to be issued.

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9,100,000 Shares

![img208649791_27.jpg](img208649791_27.jpg)

Gloo Holdings, Inc.

Class A Common Stock

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| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;*Sole Book-Running Manager* | &nbsp;&nbsp;*Sole Book-Running Manager* | &nbsp;&nbsp;*Sole Book-Running Manager* | &nbsp;&nbsp;*Sole Book-Running Manager* | &nbsp;&nbsp;*Sole Book-Running Manager* |
| **Roth Capital Partners** | **Roth Capital Partners** | **Roth Capital Partners** | **Roth Capital Partners** | **Roth Capital Partners** |
| &nbsp;&nbsp; <br>*Co-Managers* | &nbsp;&nbsp; <br>*Co-Managers* | &nbsp;&nbsp; <br>*Co-Managers* | &nbsp;&nbsp; <br>*Co-Managers* | &nbsp;&nbsp; <br>*Co-Managers* |
| &nbsp;&nbsp;**Benchmark**<br>a StoneX Company | &nbsp;&nbsp;**Craig-Hallum** | &nbsp;&nbsp;**Lake Street** | &nbsp;&nbsp;**Loop Capital Markets** | &nbsp;&nbsp;**Texas Capital Securities** |

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**Through and including , 2025 (the 25th day after the date of this prospectus), all dealers effecting transactions in these securities, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to a dealer's obligation to deliver a prospectus when acting as an underwriter and with respect to an unsold allotment or subscription.**

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**PART II**

**INFORMATION NOT REQUIRED IN PROSPECTUS**

**Item 13. Other Expenses of Issuance and Distribution** 

The following table sets forth all expenses to be paid by us in connection with this registration statement and the listing of our Class A common stock, other than underwriting discounts and commissions. All amounts shown are estimates except for the Securities and Exchange Commission, or SEC, registration fee, the Financial Industry Regulatory Authority, or FINRA, filing fee and the exchange listing fee.

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| | |
|:---|:---|
|  | **Amount<br>Paid or <br>to be Paid** |
| SEC registration fee | $20812 |
| FINRA filing fee | 23105 |
| Stock exchange listing fee | 295000 |
| Printing and engraving expenses | 195000 |
| Accounting fees and expenses | 390000 |
| Legal fees and expenses | 3800000 |
| Transfer agent and registrar fees and expenses | 20000 |
| Miscellaneous expenses | 528000 |
| &nbsp;&nbsp;&nbsp;Total | $5271917 |

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**Item 14. Indemnification of Directors and Officers**

Section 145 of the General Corporation Law of the State of Delaware, or the DGCL, authorizes a corporation's board of directors to grant, and authorizes a court to award, indemnity to officers, directors and other corporate agents.

We expect to adopt an amended and restated certificate of incorporation, which will be in effect upon the closing of this offering, and which will contain provisions that limit the liability of our directors and certain of our officers for monetary damages to the fullest extent permitted by the DGCL. Consequently, our directors will not be personally liable to us or our stockholders for monetary damages for any breach of fiduciary duties as directors, except liability for the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•any breach of their duty of loyalty to us or our stockholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•any act or omission not in good faith or that involves intentional misconduct or a knowing violation of law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•unlawful payments of dividends or unlawful stock repurchases or redemptions as provided in Section 174 of the DGCL; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•any transaction from which they derived an improper personal benefit.

Similarly, our officers who at the time of an act or omission as to which liability is asserted consented to or are deemed to have consented to certain service of process rules under Delaware law will not be personally liable to us or our stockholders for monetary damages for any breach of fiduciary duties as officers, except for liability in connection with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•any breach of their duty of loyalty to us or our stockholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•any act or omission not in good faith or that involves intentional misconduct or a knowing violation of law;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•any transaction from which they derived an improper personal benefit; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•any action by or in the right of the corporation.

Any amendment, repeal or elimination of these provisions will not eliminate or reduce the effect of these provisions in respect of any act, omission or claim that occurred or arose prior to that amendment, repeal or elimination. If the DGCL is amended to provide for further limitations on the personal liability of directors or officers of corporations, then the personal liability of our directors and officers will be further limited to the greatest extent permitted by the DGCL.

In addition, we expect to adopt amended and restated bylaws, which will become effective as of the closing of this offering, and which will provide that we will indemnify our directors and officers, and may indemnify our employees, agents and any other persons, to the fullest extent permitted by the DGCL. Our amended and restated bylaws will also provide that we must advance expenses incurred by or on behalf of a director or officer in advance of the final disposition of any action or proceeding, subject to limited exceptions.

Further, we have entered into or will enter into indemnification agreements with each of our directors and executive officers that may be broader than the specific indemnification provisions contained in the Delaware General Corporation Law. These indemnification agreements will require us to, among other things, indemnify our directors and executive officers against liabilities that may arise by reason of their status or service. These indemnification agreements also generally require us to advance all expenses reasonably and actually incurred by our directors and executive officers in investigating or defending any such action, suit or proceeding. We believe that these agreements are necessary to attract and retain qualified individuals to serve as directors and executive officers.

The limitation of liability and indemnification provisions that are expected to be included in our amended and restated certificate of incorporation, bylaws and indemnification agreements may discourage stockholders from bringing a lawsuit against our directors and officers for breach of their fiduciary duties. They may also reduce the likelihood of derivative litigation against our directors and officers, even though an action, if successful, might benefit us and other stockholders. Further, a stockholder's investment may be adversely affected to the extent that we pay the costs of settlement and damage awards against our directors and officers as required by these indemnification provisions. At present, we are not aware of any pending litigation or proceeding involving any person who is or was one of our directors or officers, or is or was one of our directors or officers serving at our request as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, for which indemnification is sought, and we are not aware of any threatened litigation that may result in claims for indemnification.

We expect to obtain and maintain insurance policies under which our directors and officers are insured, within the limits and subject to the limitations of those policies, against certain expenses in connection with the defense of, and certain liabilities which might be imposed as a result of, actions, suits, or proceedings to which they are parties by reason of being or having been our directors or officers. The coverage provided by these policies may apply whether or not we would have the power to indemnify such person against such liability under the provisions of the Delaware General Corporation Law.

Certain of our non-employee directors may, through their relationships with their employers, be insured and/or indemnified against certain liabilities incurred in their capacity as members of our board of directors.

The underwriting agreement to be filed as Exhibit 1.1 to this registration statement will provide for indemnification by the underwriters of us and our officers and directors for certain liabilities arising under the Securities Act of 1933, as amended, or the Securities Act, or otherwise.

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Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers, or persons controlling our company pursuant to the foregoing provisions, we have been informed that, in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

**Item 15. Recent Sales of Unregistered Securities**

On May 9, 2025, Gloo Holdings, Inc. issued 1,000 shares of its common stock to Gloo Holdings, LLC for $0.001 per share in cash. The issuance of such shares of common stock was not registered under the Securities Act because the shares were offered and sold in a transaction exempt from registration under Section 4(a)(2) of the Securities Act.

Immediately prior to the completion of this offering, we will complete a series of internal reorganization transactions pursuant to which, among other things, a Delaware limited liability company and wholly owned subsidiary of Gloo Holdings, Inc., will merge with and into Gloo Holdings, LLC, with Gloo Holdings, LLC as the surviving entity. As a result, Gloo Holdings, LLC will become a wholly owned subsidiary of Gloo Holdings, Inc., and the members of Gloo Holdings, LLC immediately prior to the consummation of the merger will become holders of shares of Class B common stock of Gloo Holdings, Inc., all as further described under the section titled "Corporate Reorganization" in the prospectus forming a part of this registration statement.

**Item 16. Exhibits**

***(a) Exhibits***

See the Exhibit Index immediately preceding the signature page hereto for a list of exhibits filed as part of this registration statement on Form S-1, which Exhibit Index is incorporated herein by reference.

***(b) Financial Statement Schedules***

All financial statement schedules are omitted because the information called for is not required or is shown either in the consolidated financial statements or in the accompanying notes.

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[**<u>**Table of Contents**</u>**](#toc_page)

**Item 17. Undertakings**

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

The undersigned registrant hereby undertakes that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)For purposes of determining any liability under the Securities Act, the information omitted from the form of prospectus filed as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the registrant pursuant to Rule 424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the time it was declared effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)For the purpose of determining any liability under the Securities Act, each post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

------

[**<u>**Table of Contents**</u>**](#toc_page)

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| 1.1 | [<u>Form of Underwriting Agreement</u>](ck0002069785-ex1_1.htm) |
| 3.1 | [<u>Form of Amended and Restated Certificate of Incorporation of the registrant, to be in effect upon completion of this offering</u>](ck0002069785-ex3_1.htm) |
| 3.2\* | [<u>Form of Amended and Restated Bylaws of the registrant, to be in effect upon completion of this offering</u>](https://www.sec.gov/Archives/edgar/data/2069785/000119312525242216/ck0002069785-ex3_2.htm) |
| 4.1 | [<u>Form of Amended and Restated Unit Warrant</u>](ck0002069785-ex4_1.htm) |
| 5.1 | [<u>Opinion of Wilson Sonsini Goodrich & Rosati, Professional Corporation</u>](ck0002069785-ex5_1.htm) |
| 10.1\* | [<u>Form of Director and Executive Officer Indemnification Agreement</u>](https://www.sec.gov/Archives/edgar/data/2069785/000119312525242216/ck0002069785-ex10_1.htm) |
| 10.2+ | [<u>2025 Equity Incentive Plan and related form agreements</u>](ck0002069785-ex10_2.htm) |
| 10.3+ | [<u>2025 Employee Stock Purchase Plan and related form agreements</u>](ck0002069785-ex10_3.htm) |
| 10.4+\* | [<u>Gloo Holdings, LLC Membership Unit Option Plan and related form agreements</u>](https://www.sec.gov/Archives/edgar/data/2069785/000119312525242216/ck0002069785-ex10_4.htm) |
| 10.5+\* | [<u>Executive Incentive Compensation Plan</u>](https://www.sec.gov/Archives/edgar/data/2069785/000119312525242216/ck0002069785-ex10_5.htm) |
| 10.6+ | [<u>Outside Director Compensation Policy</u>](ck0002069785-ex10_6.htm) |
| 10.7+ | [<u>Confirmatory Employment Letter by and between the registrant and Scott Beck</u>](ck0002069785-ex10_7.htm) |
| 10.8+ | [<u>Confirmatory Employment Letter by and between the registrant and Patrick Gelsinger</u>](ck0002069785-ex10_8.htm) |
| 10.9+ | [<u>Confirmatory Employment Letter by and between the registrant and Paul Seamon</u>](ck0002069785-ex10_9.htm) |
| 10.10+ | [<u>Confirmatory Employment Letter by and between the registrant and Matthew Gotschall</u>](ck0002069785-ex10_10.htm) |
| 10.11+\* | [<u>Executive Change in Control and Severance Plan</u>](https://www.sec.gov/Archives/edgar/data/2069785/000119312525242216/ck0002069785-ex10_11.htm) |
| 10.12\* | [<u>Securities Purchase Agreement among Gloo Holdings, LLC, Flourish Holdings, Inc., Midwestern Interactive, LLC and Matthew S. Johnson, dated as of January 3, 2025</u>](https://www.sec.gov/Archives/edgar/data/2069785/000119312525242216/ck0002069785-ex10_12.htm) |
| 10.13\* | [<u>Note Purchase Agreement among Gloo Holdings, LLC, and certain parties thereto, dated as of April 23, 2024, as amended January 3, 2025</u>](https://www.sec.gov/Archives/edgar/data/2069785/000119312525242216/ck0002069785-ex10_13.htm) |
| 10.14\* | [<u>Amended and Restated Note Purchase Agreement among Gloo Holdings, LLC, and certain parties thereto, dated as of June 23, 2025</u>](https://www.sec.gov/Archives/edgar/data/2069785/000119312525242216/ck0002069785-ex10_14.htm) |
| 10.15\* | [<u>First Amendment to Amended and Restated Note Purchase Agreement among Gloo Holdings, LLC and certain parties thereto, dated as of September 5, 2025</u>](https://www.sec.gov/Archives/edgar/data/2069785/000119312525242216/ck0002069785-ex10_15.htm) |
| 10.16 | [<u>Omnibus Amendment to Amended and Restated Note Purchase Agreement and Secured Promissory Notes, dated as of October 23, 2025</u>](ck0002069785-ex10_16.htm) |
| 10.17 | [<u>Form of Amended and Restated Secured Promissory Note</u>](ck0002069785-ex10_17.htm) |
| 16.1\* | [<u>Letter regarding change in certifying accountant</u>](https://www.sec.gov/Archives/edgar/data/2069785/000119312525242216/ck0002069785-ex16_1.htm) |
| 21.1\* | [<u>List of subsidiaries of the registrant</u>](https://www.sec.gov/Archives/edgar/data/2069785/000119312525242216/ck0002069785-ex21_1.htm) |
| 23.1 | [<u>Consent of Independent Registered Public Accounting Firm as to Gloo Holdings, LLC</u>](ck0002069785-ex23_1.htm) |
| 23.2 | [<u>Consent of Independent Registered Public Accounting Firm as to Midwestern Interactive, LLC</u>](ck0002069785-ex23_2.htm) |
| 23.3 | [<u>Consent of Wilson Sonsini Goodrich & Rosati, Professional Corporation (included in the opinion filed as Exhibit 5.1 to this registration statement)</u>](ck0002069785-ex5_1.htm) |
| 24.1 | [<u>Power of Attorney (included on the signature page to this registration statement)</u>](#power_of_attorney) |
| 107 | [<u>Filing Fee Table</u>](ck0002069785-exfiling_fees.htm) |

---

------

+ Indicates management contract or compensatory plan.

\* Previously filed.

------

[**<u>**Table of Contents**</u>**](#toc_page)

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City of Boulder, State of Colorado, on October 30, 2025.

---

| | |
|:---|:---|
| **GLOO HOLDINGS, INC.** | **GLOO HOLDINGS, INC.** |
| By: | /s/ Scott Beck |
|  | Scott Beck |
|  | President and Chief Executive Officer |

---

**POWER OF ATTORNEY**

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Scott Beck and Paul Seamon, and each one of them, as his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for them and in their name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement, and to sign any new registration statement with respect to the offering contemplated thereby filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended, and all post-effective amendments thereto, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as they might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| <br>/s/ Scott Beck | <br>President, Chief Executive Officer and Director | <br>October 30, 2025 |
| Scott Beck<br>| (Principal Executive Officer) |  |
| /s/ Paul Seamon | Chief Financial Officer | October 30, 2025 |
| Paul Seamon<br>| (Principal Financial Officer) |  |
| /s/ Matthew Edward Gotschall | Chief Accounting Officer | October 30, 2025 |
| Matthew Edward Gotschall<br>| (Principal Accounting Officer) |  |
| /s/ Patrick Gelsinger | Chairman of the Board; Head of Technology  | October 30, 2025 |
| Patrick Gelsinger<br>|  |  |
| /s/ Bishop Claude Richard Alexander Jr. | Director | October 30, 2025 |
| Bishop Claude Richard Alexander Jr.<br>|  |  |
| /s/ John Douglas Furst | Director | October 30, 2025 |
| John Douglas Furst<br>|  |  |
| /s/ Derek Todd Green | Director | October 30, 2025 |
| Derek Todd Green<br>|  |  |
| /s/ Elizabeth Grennan | Director | October 30, 2025 |
| Elizabeth Grennan<br>|  |  |
| /s/ Robert Gruenewald | Director | October 30, 2025 |
| Robert Gruenewald<br>|  |  |
| /s/ Nona Jones | Director | October 30, 2025 |
| Nona Jones |  |  |

---

------

## Exhibit 1.1

**Exhibit 1.1**

**[**●**] SHARES of CLASS A Common Stock** 

**GLOO HOLDINGS, INC.** 

**UNDERWRITING AGREEMENT**

<br> [●], 2025

Roth Capital Partners, LLC

As the Representative of the

Several underwriters, if any, named in <u>Schedule I</u> hereto

c/o Roth Capital Partners, LLC<br>888 San Clemente Drive

Newport Beach, CA 92660

Ladies and Gentlemen:

The undersigned Gloo Holdings, Inc., a company incorporated under the laws of Delaware (the "<u>Company</u>"), hereby confirms its agreement (this "<u>Agreement</u>") with the several underwriters (such underwriters, including the Representative (as defined below), the "<u>Underwriters</u>" and each an "<u>Underwriter</u>") named in <u>Schedule I</u> hereto for which Roth Capital Partners, LLC is acting as representative to the several Underwriters (the "<u>Representative</u>" and if there are no Underwriters other than the Representative, references to multiple Underwriters shall be disregarded and the term Representative as used herein shall have the same meaning as Underwriter) on the terms and conditions set forth herein.

It is understood that the several Underwriters are to make a public offering of the Public Shares as soon as the Representative deems it advisable to do so. The Public Shares are to be initially offered to the public at the initial public offering price set forth in the Prospectus.

It is further understood that you will act as the Representative for the Underwriters in the offering and sale of the Closing Shares and, if any, the Option Shares in accordance with this Agreement.

**ARTICLE I.** 

**DEFINITIONS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1<u>Definitions</u>. In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms have the meanings set forth in this Section 1.1:

## " <u>Action</u> " shall have the meaning ascribed to such term in Section 3.1(m).
"<u>Affiliate</u>" means with respect to any Person, any other Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with such Person as such terms are used in and construed under Rule 405 under the Securities Act.

------

"<u>Applicable Time</u>" means [●] (New York City time) on the date of this Agreement.

"<u>Board of Directors</u>" means the board of directors of the Company.

"<u>Bona Fide Electronic Road Show</u>" shall have the meaning ascribed in the definition of "Issuer General Use Free Writing Prospectus."

"<u>Business Day</u>" means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized or required by law to remain closed; <u>provided</u>, <u>however</u>, for clarification, commercial banks shall not be deemed to be authorized or required by law to remain closed due to "stay at home," "shelter-in-place," "non-essential employee" or any other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental authority so long as the electronic funds transfer systems (including for wire transfers) of commercial banks in The City of New York generally are open for use by customers on such day.

"Class B <u>Common Stock</u>" means the Class B common stock of the Company, par value $0.001 per share.

"<u>Closing</u>" means the closing of the purchase and sale of the Closing Shares pursuant to Section 2.1.

"<u>Closing Date</u>" means the hour and the date on the Trading Day on which all conditions precedent to (i) the Underwriters' obligations to pay the Closing Purchase Price and (ii) the Company's obligations to deliver the Closing Shares, in each case, have been satisfied or waived, but in no event later than 10:00 a.m. (New York City time) on the second (2<sup>nd</sup>) Trading Day following the Execution Date or at such earlier time as shall be agreed upon by the Representative and the Company.

"<u>Closing Purchase Price</u>" shall have the meaning ascribed to such term in Section 2.1(b), which aggregate purchase price shall be net of the underwriting discounts and commissions.

"<u>Closing Shares</u>" shall have the meaning ascribed to such term in Section 2.1(a).

"<u>Commission</u>" means the United States Securities and Exchange Commission.

"<u>Common Stock</u>" means the Class A common stock of the Company, par value $0.001 per share, and any other class of securities into which such securities may hereafter be reclassified or changed.

"<u>Common Stock Equivalents</u>" means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

"<u>Company Auditor</u>" means Crowe LLP, with offices located at 225 West Wacker

------

Drive Suite 2600, Chicago, IL, 60606.

"<u>Company Counsel</u>" means Wilson Sonsini Goodrich & Rosati P.C., with offices located at 1155 Canyon Blvd Suite 400, Boulder, CO 80302.

"<u>Company Intellectual Property</u>" shall have the meaning ascribed to such term in Section 3.1(q).

"<u>Contributing Party</u>" has the meaning ascribed to such term in Section 6.4(b).

"<u>Controlling Person</u>" shall have the meaning ascribed to such term in Section 6.1.

"<u>Convertible Notes</u>" shall have the meaning ascribed to such term in Section 4.11.

"<u>Corporate Reorganization,</u>" as such term is defined in the Registration Statement, Pricing Disclosure Package and Prospectus in the section titled "Corporate Reorganization," refers to the series of transactions will be effected prior to the Closing, pursuant to which the Company will become the sole managing member of Gloo Holdings, LLC. As the sole managing member of Gloo Holdings, LLC, the Company will operate and control all of the business and affairs of Gloo Holdings, LLC and, through Gloo Holdings, LLC and its subsidiaries, conduct its business.

"<u>Directed Shares</u>" shall have the meaning ascribed to such term in Section 2.3.

"<u>Directed Share Program</u>" shall have the meaning ascribed to such term in Section 2.3.

"<u>Effective Date</u>" shall have the meaning ascribed to such term in Section 3.1(f).

"<u>Emerging Growth Company</u>" shall have the meaning ascribed to such term in Section 3.1(mm).

"<u>Environmental Laws</u>" shall have the meaning ascribed to such term in Section 3.1(kk).

"<u>Exchange</u>" shall have the meaning ascribed to such term in Section 3.1(w).

"<u>Exchange Act</u>" means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

"<u>Exchangeable Shares</u>" shall mean 197,663 shares of Class B Common Stock issuable upon the exchange of 592,991 exchangeable shares of a wholly owned subsidiary of Gloo Holdings, LLC, based on a three-for-one exchangeable share-to-Class B Common Stock share exchange ratio as part of the Reorganization.

"<u>Execution Date</u>" shall mean the date on which the parties execute and enter into this Agreement.

------

"<u>FCPA</u>" means the Foreign Corrupt Practices Act of 1977, as amended.

"<u>Federal Reserve Board</u>" has the meaning ascribed to such term in Section 3.1(pp).

"<u>Fidelity</u>" shall have the meaning ascribed to such term in Section 2.3.

"<u>Fidelity Entities</u>" shall have the meaning ascribed to such term in Section 6.5.

"<u>Fidelity Parties</u>" shall have the meaning ascribed to such term in Section 3.1(zz).

"<u>FINRA</u>" means the Financial Industry Regulatory Authority.

"<u>GAAP</u>" shall have the meaning ascribed to such term in Section 3.1(j).

"<u>GDPR</u>" shall have the meaning ascribed to such term in Section 3.1(tt).

"<u>Hazardous Materials</u>" shall have the meaning ascribed to such term in Section 3.1(kk).

"<u>Indebtedness</u>" means (a) any liabilities for borrowed money or amounts owed in excess of $50,000 (other than trade accounts payable incurred in the ordinary course of business), (b) all guaranties, endorsements and other contingent obligations in respect of indebtedness of others, whether or not the same are or should be reflected in the Company's consolidated balance sheet (or the notes thereto), except guaranties by endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business; and (c) the present value of any lease payments in excess of $50,000 due under leases required to be capitalized in accordance with GAAP.

"<u>Intellectual Property</u>" shall have the meaning ascribed to such term in Section 3.1(q).

"<u>Issuer Free Writing Prospectus</u>" means any "issuer free writing prospectus," as defined in Rule 433 under the Securities Act, including without limitation any "free writing prospectus" (as defined in Rule 405 of the Securities Act Regulations) relating to the Public Shares that is (i) required to be filed with the Commission by the Company, (ii) a "road show that is a written communication" within the meaning of Rule 433(d)(8)(i), whether or not required to be filed with the Commission, or (iii) exempt from filing with the Commission pursuant to Rule 433(d)(5)(i) under the Securities Act because it contains a description of the Public Shares or of the Offering that does not reflect the final terms, in each case in the form filed or required to be filed with the Commission or, if not required to be filed, in the form retained in the Company's records pursuant to Rule 433(g) under the Securities Act.

"<u>Issuer General Use Free Writing Prospectus</u>" means any Issuer Free Writing Prospectus that is intended for general distribution to prospective investors (other than a "bona fide electronic road show," as defined in Rule 433 (the "<u>Bona Fide Electronic Road Show</u>")), as evidenced by its being specified in <u>Schedule II-B</u> hereto.

------

"<u>Issuer Limited Use Free Writing Prospectus</u>" means any Issuer Free Writing Prospectus that is not an Issuer General Use Free Writing Prospectus.

"<u>IT Systems</u>" shall have the meaning ascribed to such term in Section 3.1(uu).

"<u>knowledge</u>" means the actual knowledge of any of executive officers of the Company and its Subsidiaries, in each case after reasonable inquiry of officers, directors and employees of the Company and its Subsidiaries under such Person's direct supervision who would reasonably be expected to have knowledge or information with respect to the matter in question.

"<u>Liens</u>" means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

"<u>Lock-Up Agreements</u>" means the lock-up agreements that are delivered by each of Lock-up Parties, in substantially the form of <u>Exhibit A</u> attached hereto.

"<u>Lock-Up Parties</u>" shall have the meaning ascribed to such term in Section 3.1(ww).

"<u>Lock-Up Period</u>" shall have the meaning ascribed to such term in Section 4.11.

"<u>Material Adverse Effect</u>" means (i) a material adverse effect on the legality, validity or enforceability of this Agreement, (ii) a material adverse effect on the results of operations, assets, business or condition (financial or otherwise) of the Company and the Subsidiaries, taken as a whole or (iii) a material adverse effect on the Company's ability to perform in any material respect on a timely basis its obligations under this Agreement.

"<u>Material Permit</u>" has the meaning ascribed to such term in Section 3.1(o).

"<u>Money Laundering Laws</u>" shall have the meaning ascribed to such term in Section 3.1(gg).

"<u>OFAC</u>" shall have the meaning ascribed to such term in Section 3.1(ee).

"<u>Offering</u>" shall have the meaning ascribed to such term in Section 2.1(c).

"<u>Option Closing</u>" means the closing of the purchase and sale of the Option Shares pursuant to Section 2.2.

"<u>Option Closing Date</u>" shall have the meaning ascribed to such term in Section 2.2(c).

"<u>Option Closing Purchase Price</u>" shall have the meaning ascribed to such term in Section 2.2(b), which aggregate purchase price shall be net of the underwriting discounts and commissions.

"<u>Option Shares</u>" shall have the meaning ascribed to such term in Section 2.2(a).

------

"<u>Over-Allotment Option</u>" shall have the meaning ascribed to such term in Section 2.2(a).

"<u>Participant</u>" shall have the meaning ascribed to such term in Section 2.3.

"<u>Person</u>" means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

"<u>Personal Data</u>" shall have the meaning ascribed to such term in Section 3.1(tt).

"<u>Policies</u>" shall have the meaning ascribed to such term in Section 3.1(tt).

"<u>Preliminary Prospectus</u>" means, if any, any preliminary prospectus used prior to the effectiveness of the Registration Statement, and each prospectus that omitted the Rule 430A Information that was used after such effectiveness and prior to the execution and delivery of this Agreement.

"<u>Pricing Disclosure Package</u>" means any Issuer General Use Free Writing Prospectus issued at or prior to the Applicable Time, the Pricing Prospectus and the information included on <u>Schedule II-A</u> hereto, all considered together.

"<u>Pricing Prospectus</u>" means the Preliminary Prospectus, subject to completion, dated [●], 2025, that was included in the Registration Statement immediately prior to the Applicable Time.

"<u>Privacy Laws</u>" shall have the meaning ascribed to such term in Section 3.1(tt).

"<u>Proceeding</u>" means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial proceeding, such as a deposition), whether commenced or, to the Company's knowledge, threatened.

"<u>Prospectus</u>" means the final prospectus covering the Public Shares filed for the Registration Statement with the Commission pursuant to Rule 424(b).

"<u>Public Shares</u>" means, collectively, the Closing Shares and, if any, the Option Shares.

"<u>Registration Statement</u>" means, collectively, the various parts of the registration statement prepared by the Company on Form S-1 (File No. 333-290930) with respect to the Public Shares and the Representative's Securities, each as amended as of the Execution Date, including the Prospectus, if any, the Preliminary Prospectus, if any, all exhibits filed with or incorporated by reference into such registration statement, the Rule 430A Information, and any Rule 462(b) Registration Statement.

"<u>Required Approvals</u>" shall have the meaning ascribed to such term in Section 3.1(e).

------

"<u>Rule 424</u>" means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule.

"<u>Rule 430A Information</u>" means all information deemed to be a part of the Registration Statement as of the Effective Date pursuant to paragraph (b) of Rule 430A of the Securities Act Regulations.

"<u>Rule 462(b) Registration Statement</u>" means any registration statement prepared by the Company registering the sale of additional Public Shares, which was filed with the Commission on or prior to the Execution Date and became automatically effective pursuant to Rule 462(b) promulgated by the Commission pursuant to the Securities Act.

"<u>Sanctioned Country</u>" shall have the meaning ascribed to such term in Section 3.1(ee).

"<u>Sanctions</u>" shall have the meaning ascribed to such term in Section 3.1(ee).

"<u>Securities Act</u>" means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

"<u>Selected Dealer</u>" shall have the meaning ascribed to such term in Section 6.1.

"<u>Share Purchase Price</u>" shall have the meaning ascribed to such term in Section 2.1(b).

"<u>Subsidiary</u>" means any "significant subsidiary" (as defined in Rule 1-02 of Regulation S-X under the Securities and Exchange Act) of the Company and shall, where applicable, also include any direct or indirect subsidiary of the Company formed or acquired after the Execution Date.

"<u>Testing-the-Waters Communication</u>" means any oral or written communication with potential investors undertaken in reliance on Section 5(d) of the Securities Act.

"<u>Trading Day</u>" means a day on which the principal Trading Market is open for trading.

"<u>Trading Market</u>" means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the New York Stock Exchange (or any successors to any of the foregoing).

"<u>Transfer Agent</u>" means Fidelity Stock Transfer Solutions LLC, with offices located at 245 Summer Street, Boston, MA 02210, and any successor transfer agent of the Company.

"<u>Underwriter Counsel</u>" means Reed Smith LLP, with offices located at 1221

------

McKinney St # 2100, Houston, Texas 77010.

"<u>Underwriters' Information</u>" shall have the meaning ascribed to such term in Section 3.1(y).

"<u>Warrants</u>" shall mean the warrants granted to FMAB Partners, LP to purchase 166,666 shares of Class B Common Stock and to Jane White 2011 Irrevocable Trust to purchase 33,333 shares of Class B Common Stock, in connection with the Reorganization and in substitution for warrants previously issued to such parties by Gloo Holdings, LLC.

"<u>XRI Shares</u>" shall have the meaning ascribed to such term in Section 4.11.

**ARTICLE II.** 

**PURCHASE AND SALE**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1<u>Closing</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Upon the terms and subject to the conditions set forth herein, the Company agrees to issue and sell to each of the Underwriters, and each Underwriter agrees, severally and not jointly, to purchase from the Company, at the Closing, the number of shares of Common Stock (the "<u>Closing Shares</u>") set forth opposite the name of such Underwriter on <u>Schedule I</u> hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)The aggregate purchase price for the Closing Shares shall equal the purchase price for one Closing Share of $[●] per share (the "<u>Share Purchase Price</u>") multiplied by the amount set forth opposite the name of each Underwriter on <u>Schedule I</u> hereto (the "<u>Closing Purchase Price</u>"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)At 10:00 a.m., New York City time on the Closing Date, or at such other time on the same or such other date, not later than [●], 2025, as shall be agreed upon in writing by the Company and the Representative, the Representative shall deliver or cause to be delivered to the Company, via wire transfer, immediately available funds equal to the aggregate of the Closing Purchase Price to the account or accounts specified by the Company, and the Company shall deliver to, or as directed by, the Representative the Closing Shares, and the Company shall deliver the other items required pursuant to Section 2.4 deliverable at the Closing. Upon satisfaction of the covenants and conditions set forth in Sections 2.4 and 2.5, the Closing shall occur at the offices of Underwriter Counsel or such other location (including remotely by electronic transmission) as the Company and the Representative shall mutually agree. The Closing Shares are to be offered initially to the public at the offering price set forth on the cover page of the Prospectus (the "<u>Offering</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2<u>Over-Allotment Option</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)For the purposes of covering any over-allotments in connection with the distribution and sale of the Closing Shares, the Underwriters are hereby granted an option (the "<u>Over-Allotment Option</u>") to purchase, in the aggregate, up to [●] shares of Common Stock (the "<u>Option Shares</u>") at the Share Purchase Price.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)In connection with an exercise of the Over-Allotment Option, the purchase price to be paid for the Option Shares is equal to the product of the Share Purchase Price multiplied by the number of Option Shares to be purchased (the aggregate purchase price to be paid on an Option Closing Date, the "<u>Option Closing Purchase Price</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)The Over-Allotment Option granted pursuant to this Section 2.2 may be exercised by the Representative as to all (at any time) or any part (from time to time) of the Option Shares within 30 days after the Execution Date. An Underwriter will not be under any obligation to purchase any Option Shares prior to the exercise of the Over-Allotment Option by the Representative. The Over-Allotment Option granted hereby may be exercised by the giving of written notice to the Company from the Representative setting forth the number of Option Shares to be purchased and the date and time for delivery of and payment for the Option Shares (each, an "<u>Option Closing Date</u>"), which must be at least one (1) Trading Day after such written notice is given and may not be earlier than the Closing Date or later than 10:00 a.m., New York City time, on the second (2<sup>nd</sup>) Trading Day after the date of the notice or such other time as shall be agreed upon by the Company and the Representative, at the offices of Underwriter Counsel or at such other location (including remotely by electronic transmission) as shall be agreed upon by the Company and the Representative. If such delivery and payment for the Option Shares does not occur on the Closing Date, each Option Closing Date will be as set forth in the notice. Upon exercise of the Over-Allotment Option, the Company will become obligated to convey to the Underwriters, and, subject to the terms and conditions set forth herein, each of the Underwriters, acting severally and not jointly, will become obligated to purchase, the number of Option Shares specified in such notice. The Representative may cancel the Over-Allotment Option at any time prior to the expiration of the Over-Allotment Option by written notice to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3<u>Directed Share Program</u>. The Company, the Representative, and Fidelity Capital Markets, a division of National Financial Services LLC ("<u>Fidelity</u>") has agreed that up to five percent (5%) of the Public Shares to be purchased by the Underwriters under this Agreement shall be reserved for sale to the Company's directors, officers and employees and their friends and family members (collectively, "<u>Participants</u>"), as set forth in each of the Pricing Disclosure Package and the Prospectus under the heading "Underwriters" (the "<u>Directed Share Program</u>"). The Public Shares to be sold pursuant to the Directed Share Program, at the direction of the Company, are referred to hereinafter as the "<u>Directed Shares</u>." Any Directed Shares not orally confirmed for purchase by any Participant by 11:59 p.m. New York City time on the date on which this Agreement is executed will be offered to the public by the Underwriters as set forth in the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4<u>Deliveries</u>. The Company, Underwriter Counsel or the Company Auditor, as applicable, shall deliver or cause to be delivered to each Underwriter (if applicable) the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)At the Closing Date, the Closing Shares and, as to each Option Closing Date, if any, the applicable Option Shares, which shares shall be delivered to the Representative via the Depository Trust Company's Deposit or Withdrawal at Custodian system for the accounts of the several Underwriters;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)At the Closing Date, a legal opinion and negative assurance letter of Company Counsel addressed to the Underwriters in the form and substance reasonably satisfactory to the Representative, and as to each Option Closing Date, if any, bring-down opinions and negative assurance letters from Company Counsel addressed to the Underwriters in form and substance reasonably satisfactory to the Representative;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)At the Closing Date, a legal opinion and negative assurance letter of Underwriter Counsel addressed to the Underwriters in the form and substance satisfactory in all respects to the Representative, and as to each Option Closing Date, if any, bring-down opinions and negative assurance letters from Underwriter Counsel addressed to the Underwriters in the form and substance satisfactory in all respects to the Representative;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)On the Execution Date, a cold comfort letter, addressed to the Underwriters and in form and substance satisfactory in all respects to the Representative from the Company Auditor dated as of the date of this Agreement and, on the Closing Date and each Option Closing Date, if any, a bring-down cold comfort letter dated as of the Closing Date and each Option Closing Date, respectively;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)On the Closing Date and on each Option Closing Date, if any, the duly executed and delivered Officer's Certificate of the Company's Chief Executive Officer, satisfactory to the Representatives as to the accuracy of the representations and warranties of the Company herein at and as of the Closing Date and on each Option Closing Date, as the case may be, that the Company has complied with all of the agreements and satisfied all of the conditions on its part to be performed or satisfied hereunder on or before such Closing Date or Option Closing Date, including the matters set forth in Sections 2.5(a), 2.5(b), and 2.5(g) herein, and as to such other matters as the Representatives may reasonably request;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)On the Closing Date and on each Option Closing Date, if any, the duly executed and delivered Secretary's Certificate, in form and substance reasonably satisfactory to the Representative; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)Prior to or on the Execution Date, the duly executed and delivered Lock-Up Agreements dated as of the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5<u>Closing Conditions</u>. The respective obligations of each Underwriter hereunder in connection with the Closing and each Option Closing Date are subject to the following conditions being met:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)The accuracy in all material respects when made and on the date in question (other than representations and warranties of the Company already qualified by materiality, which shall be true and correct in all respects) of the representations and warranties of the Company contained herein (unless as of a specific date therein);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)All obligations, covenants and agreements of the Company required to be performed at or prior to the date in question shall have been performed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)The delivery by the Company, the Company Counsel, the Company

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Auditor, and Underwriter Counsel, as applicable, of the items set forth in Section 2.4 of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)The Registration Statement shall be effective as of the date of this Agreement and at each of the Closing Date and each Option Closing Date, if any, no stop order suspending the effectiveness of the Registration Statement shall have been issued and no proceedings for that purpose shall have been instituted or shall be pending or, to the Company's knowledge, threatened by the Commission and any request on the part of the Commission for additional information shall have been complied with to the reasonable satisfaction of the Representative;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)By the Execution Date, FINRA shall have raised no objections as to the amount of compensation allowable or payable to the Underwriters as described in the Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)The Closing Shares and the Option Shares have been approved for listing on the Trading Market, subject to official notice of issuance; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)Prior to and on each of the Closing Date and each Option Closing Date, if any: (i) there shall have been no material adverse change or development involving a prospective material adverse change in the condition or the business activities, financial or otherwise, of the Company from the latest dates as of which such condition is set forth in the Registration Statement and Prospectus; (ii) no action suit or proceeding, at law or in equity, shall have been pending or threatened in writing against the Company or any Subsidiary of the Company before or by any court or federal or state commission, board or other administrative agency wherein an unfavorable decision, ruling or finding would reasonably be expected to result in a Material Adverse Effect; (iii) no stop order shall have been issued under the Securities Act and no proceedings therefor shall have been initiated or threatened in writing by the Commission; and (iv) the Registration Statement and the Prospectus and any amendments or supplements thereto shall contain all material statements which are required to be stated therein in accordance with the Securities Act and the rules and regulations thereunder and shall conform in all material respects to the requirements of the Securities Act and the rules and regulations thereunder, and neither the Registration Statement nor the Prospectus nor any amendment or supplement thereto shall contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.

**ARTICLE III.** 

**REPRESENTATIONS AND WARRANTIES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1<u>Representations and Warranties of the Company</u>. The Company represents and warrants to the Underwriters as of the Execution Date as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Subsidiaries</u>. All of the Subsidiaries of the Company are set forth in the Registration Statement, the Pricing Disclosure Package, and the Prospectus. The Company owns a consolidating interest in each Subsidiary and such interests are free and clear of any

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Liens. All of the issued and outstanding shares of capital stock of each Subsidiary owned, directly or indirectly, by the Company are validly issued and are fully paid, non-assessable and free of preemptive and similar rights to subscribe for or purchase securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Organization and Qualification</u>. The Company and each of the Subsidiaries is an entity duly incorporated or otherwise organized, validly existing and in good standing under the laws of the jurisdiction of their incorporation or organization (to the extent the concept of good standing or an equivalent concept is applicable in such jurisdiction), with the requisite power and authority to own and use their properties and assets and to carry on their business as currently conducted, except to the extent that the failure to be so qualified, be in good standing, or have such requisite power and authority would not reasonably be expected to result in a Material Adverse Effect, as the case may be. Neither the Company nor any Subsidiary is in violation nor default of any of the provisions of its respective certificate or articles of incorporation, bylaws or other organizational or charter documents. Each of the Company and the Subsidiaries is duly qualified to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, could not reasonably be expected to result in a Material Adverse Effect and no Proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power and authority or qualification of the Company, except to the extent that such Proceeding could not reasonably be expected to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Authorization; Enforcement</u>. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder. The execution and delivery of this Agreement and the consummation by it of the transactions contemplated hereby have been duly authorized by all necessary action on the part of the Company and no further action is required by the Company, the Board of Directors or the Company's stockholders in connection herewith other than in connection with the Required Approvals. This Agreement has been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance with the terms hereof and thereof, will constitute the valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors' rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)<u>No Conflicts</u>. The execution, delivery and performance by the Company of this Agreement, the issuance and sale of the Public Shares and the consummation by it of the transactions contemplated hereby and thereby do not and will not (i) conflict with or violate any provision of the Company's or any Subsidiary's certificate or articles of incorporation, bylaws or other organizational or charter documents, or (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a

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default) under, result in the creation of any Lien upon any of the material properties or assets of the Company or any Subsidiary, or give to others any rights of termination, amendment, anti-dilution or similar adjustments, acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing a Company or Subsidiary debt or otherwise) or other understanding to which the Company or any Subsidiary is a party or by which any material property or asset of the Company or any Subsidiary is bound or affected, or (iii) subject to the Required Approvals, conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to which the Company or a Subsidiary is subject (including federal and state securities laws and regulations), or by which any material property or asset of the Company or a Subsidiary is bound or affected; except in the case of each of clauses (ii) and (iii), such as could not have or reasonably be expected to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)<u>Filings, Consents and Approvals</u>. Other than (i) the filing with the Commission of the Prospectus, (ii) the necessary filings and approvals from the Trading Market to list the Public Shares, and (iii) such filings as are required to be made under applicable federal and state securities laws and the rules and regulations of FINRA (collectively, the "<u>Required Approvals</u>"), the Company is not required to obtain any consent, approval, waiver, authorization or order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other Person in connection with the execution, delivery and performance by the Company of this Agreement, the issue and sale of the Public Shares or the offering of the Directed Shares in any jurisdiction where the Directed Shares are being offered, except such as could not have or reasonably be expected to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)<u>Registration Statement</u>. The Company has filed with the Commission the Registration Statement, including any related Preliminary Prospectus or Prospectus, for the registration of the Public Shares under the Securities Act, which Registration Statement has been prepared by the Company in all material respects in conformity with the requirements of the Securities Act and the rules and regulations of the Commission under the Securities Act. The Registration Statement has been declared effective by the Commission on the Execution Date or become effective on the twentieth (20<sup>th</sup>) day after the filing thereof in lieu of effectiveness by order of the Commission (the "<u>Effective Date</u>"). The Company has taken no action designed to terminate, or which reasonably could be expected to have the effect of terminating, the registration of shares of Common Stock under the Exchange Act, nor has the Company received any notification in writing that the Commission is contemplating terminating such registration. No stop order suspending the effectiveness of the Registration Statement or the use of the Prospectus has been issued, and no proceeding for any such purpose is pending or has been initiated or, to the Company's knowledge, is threatened in writing by the Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)<u>Issuance of Securities</u>. The Public Shares have been duly authorized for issuance and sale and, when issued and paid for will be validly issued, fully paid and non-assessable. All corporate action required to be taken for the authorization, issuance and sale of the Public Shares has been duly and validly taken. Except as described in each of the Registration Statement, the Pricing Disclosure Package and the Prospectus, after giving

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effect to the Corporate Reorganization, (i) the issuance and sale of the Public Shares will not obligate the Company to issue shares of Common Stock or other securities to any Person (other than the Underwriters) and (ii) the Public Shares are not and will not be subject to the preemptive rights of any holders of any security of the Company or similar contractual rights granted by the Company. The Public Shares conform in all material respects to all statements with respect thereto contained in the Registration Statement, the Pricing Disclosure Package, and the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)<u>Capitalization</u>. The capitalization of the Company is in all material respects as set forth in the Registration Statement, the Pricing Disclosure Package, and the Prospectus. No Person has any right of first refusal, preemptive right, right of participation, or any similar right to participate in the transactions contemplated by this Agreement. Except as set forth in the Registration Statement, the Pricing Disclosure Package, and the Prospectus, there are no outstanding options, warrants, scrip rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities, rights or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to subscribe for or acquire, any shares of Common Stock, or contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound to issue additional shares of Common Stock or Common Stock Equivalents. Except as set forth in the Registration Statement, the Pricing Disclosure Package, and the Prospectus, and except as may be necessary to facilitate the Corporate Reorganization, there are no outstanding securities or instruments of the Company or any Subsidiary with any provision that adjusts the exercise, conversion, exchange or reset price of such security or instrument upon an issuance of securities by the Company or any Subsidiary. All of the outstanding shares of capital stock of the Company are duly authorized, validly issued, fully paid and nonassessable, have been issued in compliance with all federal and state securities laws, and none of such outstanding shares was issued in violation of any preemptive rights or similar rights to subscribe for or purchase securities. The authorized shares of the Company and the Public Shares conform in all material respects to all statements relating thereto contained in the Registration Statement, the Pricing Disclosure Package, and the Prospectus. The offers and sales of the Company's securities were at all relevant times either registered under the Securities Act and the applicable state securities or "blue sky" laws or, based in part on the representations and warranties of the purchasers, exempt from such registration requirements. There are no stockholders agreements, voting agreements or other similar agreements with respect to the Company's capital stock to which the Company is a party or, to the knowledge of the Company, between or among any of the Company's stockholders. Subsequent to the respective dates as of which information is given in each of the Registration Statement, the Pricing Disclosure Package, and the Prospectus, the Company has not issued any capital stock other than (i) pursuant to the exercise of employee stock options under the Company's stock option plans, (ii) shares issued in connection with the Reorganization and conversion of the Convertible Notes, and (iii) shares issued in connection with the exercise of the Warrants and the exchange of the Exchangeable Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)<u>Registration Rights of Third Parties</u>. Except as set forth in the Registration Statement, the Pricing Disclosure Package, and the Prospectus, no holders of any securities of the Company or any rights exercisable for or convertible or exchangeable into securities

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of the Company have the right to require the Company to register any such securities of the Company under the Securities Act or to include any such securities in a registration statement to be filed by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)<u>Financial Statements</u>. The financial statements, including the notes thereto and supporting schedules included in the Registration Statement, the Pricing Disclosure Package and the Prospectus, fairly present in all material respects the financial position and the results of operations of the Company at the dates and for the periods to which they apply; and such financial statements have been prepared in conformity with U.S. generally accepted accounting principles ("<u>GAAP</u>"), consistently applied throughout the periods involved (except for any normal year-end audit adjustments in the quarterly unaudited interim financial statements); and the supporting schedules included in the Registration Statement present fairly in all material respects the information required to be stated therein. Except as included therein, no historical or pro forma financial statements are required to be included in the Registration Statement, the Pricing Disclosure Package or the Prospectus under the Securities Act or the Securities Act Regulations. The pro forma and pro forma as adjusted financial information and the related notes included in the Registration Statement, the Pricing Disclosure Package and the Prospectus have been properly compiled and prepared in accordance with the applicable requirements of the Securities Act and the Securities Act Regulations and present fairly in all material respects the information shown therein, and the assumptions used in the preparation thereof are reasonable and the adjustments used therein are appropriate to give effect to the transactions and circumstances referred to therein. All disclosures contained in the Registration Statement, the Pricing Disclosure Package or the Prospectus regarding "non-GAAP financial measures" (as such term is defined by the rules and regulations of the Commission), if any, comply in all material respects with Regulation G of the Exchange Act and Item 10 of Regulation S-K of the Securities Act, to the extent applicable. Each of the Registration Statement, the Pricing Disclosure Package and the Prospectus discloses all material off-balance sheet transactions, arrangements, obligations (including contingent obligations), and other relationships of the Company with unconsolidated entities or other persons that reasonably could be expected to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)<u>Disclosure of Agreements</u>. The agreements and documents described in the Registration Statement, the Pricing Disclosure Package, and the Prospectus conform to the descriptions thereof contained therein and there are no agreements or other documents required by the Securities Act and the rules and regulations thereunder to be described in the Registration Statement, the Pricing Disclosure Package, and the Prospectus or to be filed with the Commission as exhibits to the Registration Statement, that have not been so described or filed. Each agreement or other instrument (however characterized or described) to which the Company is a party or by which it is or may be bound or affected and (i) that is referred to in the Registration Statement, the Pricing Disclosure Package or the Prospectus, or (ii) is material to the Company's business, has been duly authorized and validly executed by the Company, is in full force and effect in all material respects and is enforceable against the Company and, to the Company's knowledge, the other parties thereto, in accordance with its terms, except (x) as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors' rights generally, (y) as enforceability of any indemnification or contribution provision may be limited under

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the U.S. federal and state securities laws, and (z) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to the equitable defenses and to the discretion of the court before which any proceeding therefore may be brought. None of such agreements or instruments has been assigned by the Company, and neither the Company nor, to the best of the Company's knowledge, any other party is in default thereunder and, to the best of the Company's knowledge, no event has occurred that, with the lapse of time or the giving of notice, or both, would constitute a default thereunder. To the best of the Company's knowledge, performance by the Company of the material provisions of such agreements or instruments will not result in a violation of any existing applicable law, rule, regulation, judgment, order or decree of any governmental agency or court, domestic or foreign, having jurisdiction over the Company or any of its assets or businesses, including, without limitation, those relating to environmental laws and regulations, except for violations which would not reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)<u>Material Changes; Undisclosed Events, Liabilities or Developments</u>. Since the date of the latest audited financial statements included within the Registration Statement, the Pricing Disclosure Package, and the Prospectus, except as specifically disclosed in the Registration Statement, the Pricing Disclosure Package, and the Prospectus, except for the transactions contemplated in connection with the Corporate Reorganization and except as would not reasonably be expected to result in a Material Adverse Effect, (i) there has been no event, occurrence or development that has had or that could reasonably be expected to result in a Material Adverse Effect, (ii) the Company has not incurred any material liabilities (contingent or otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice and (B) liabilities not required to be reflected in the Company's financial statements pursuant to GAAP or disclosed in filings made with the Commission, (iii) the Company has not altered its method of accounting, (iv) the Company has not declared or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock, (v) the Company has not issued any equity securities to any officer, director or Affiliate, except pursuant to existing Company stock option plans and (vi) no officer or director of the Company has resigned from such officer or director position with the Company. The Company does not have pending before the Commission any request for confidential treatment of information. Except for the issuance of the Public Shares contemplated by this Agreement, no event, liability, fact, circumstance, occurrence or development has occurred or exists or is reasonably expected to occur or exist with respect to the Company or its Subsidiaries or their respective businesses properties, operations, assets or financial condition that would be required to be disclosed by the Company under applicable securities laws at the time this representation is made or deemed made that has not been publicly disclosed at least one (1) Trading Day prior to the date that this representation is made, except as would not reasonably be expected to result in a Material Adverse Effect. Unless otherwise disclosed in the Registration Statement, the Pricing Disclosure Package, and the Prospectus, and except for the transactions contemplated in connection with the Corporate Reorganization, the Company has not: (i) issued any securities or incurred any liability or obligation, direct or contingent, for borrowed money; or (ii) declared or paid any dividend or made any other distribution on or in respect to its capital stock.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)<u>Litigation</u>. There is no Proceeding pending or, to the knowledge of the Company, threatened in writing against or affecting the Company, any Subsidiary or any of their respective properties before or by any court, arbitrator, governmental or administrative agency or regulatory authority (U.S. federal, state, county, local or non-U.S.) (collectively, an "<u>Action</u>") which (i) adversely affects or challenges the legality, validity or enforceability of this Agreement or the Public Shares or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result in a Material Adverse Effect, other than proceedings described in all material respects in each of the Registration Statement, the Pricing Disclosure Package and the Prospectus. Neither the Company nor any Subsidiary, nor any director or officer thereof, is the subject of any Action involving a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty. To the knowledge of the Company, there has not been and there is not pending or contemplated, any investigation by the Commission involving the Company or any current director or officer of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)<u>Labor Relations</u>. No material labor dispute exists or, to the knowledge of the Company, is imminent with respect to any of the employees of the Company, which could reasonably be expected to result in a Material Adverse Effect. None of the Company's or its Subsidiaries' employees is a member of a union that relates to such employee's relationship with the Company or such Subsidiary, and neither the Company nor any of its Subsidiaries is a party to a collective bargaining agreement, and the Company and its Subsidiaries believe that their relationships with their employees are good. To the knowledge of the Company, no executive officer of the Company or any Subsidiary, is, or is now expected to be, in violation of any material term of any employment contract, confidentiality, disclosure or proprietary information agreement or non-competition agreement, or any other contract or agreement or any restrictive covenant in favor of any third party, and the continued employment of each such executive officer does not subject the Company or any of its Subsidiaries to any liability with respect to any of the foregoing matters, except such violation could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Company and its Subsidiaries are in compliance with all U.S. federal, state, local and non-U.S. laws and regulations relating to employment and employment practices, terms and conditions of employment and wages and hours, except where the failure to be in compliance could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)<u>Regulatory Permits</u>. To the Company's knowledge, the Company and the Subsidiaries possess all certificates, authorizations and permits issued by the appropriate U.S. federal, state, local or non-U.S. regulatory authorities necessary to conduct their respective businesses as presently conducted as described in the Registration Statement, the Pricing Disclosure Package, and the Prospectus, except where the failure to possess such permits could not reasonably be expected to result in a Material Adverse Effect (each, a "<u>Material Permit</u>"), and neither the Company nor any Subsidiary has received any notice of proceedings relating to the revocation or modification of any Material Permit. The disclosures in the Registration Statement concerning the effects of U.S. federal, state, local and all non-U.S. regulation on the Company's business as currently contemplated are correct in all material respects.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)<u>Title to Assets</u>. The Company and the Subsidiaries have good and marketable title in fee simple to, or have valid and marketable rights to lease or otherwise use, all real property and all personal property (other than Intellectual Property, which is exclusively addressed by Section 3.1(q) below) that is material to the business of the Company and the Subsidiaries, taken as a whole, is, in each case free and clear of all Liens, except for (i) Liens as do not materially affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by the Company and the Subsidiaries and (ii) Liens for the payment of federal, state or other taxes, for which appropriate reserves have been made in accordance with GAAP, and the payment of which is neither delinquent nor subject to penalties. Any real property and facilities held under lease by the Company and the Subsidiaries are, to the Company's knowledge, held by them under valid, subsisting and enforceable leases with which the Company and the Subsidiaries are in compliance, except in each case as could not have or reasonably be expected to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)<u>Intellectual Property</u>. Except as disclosed in the Registration Statement, the Pricing Disclosure Package, the Preliminary Prospectus, or the Prospectus, and except as would not, singularly or in the aggregate, reasonably be expected to have a Material Adverse Effect on the Company and its Subsidiaries, taken as a whole: (i) to the knowledge of the Company, the Company and its Subsidiaries own, or possess valid and enforceable license rights to use, or are otherwise authorized under applicable law to use, all patents, patent applications, trademarks, service marks, trade names, trademark registrations, service mark registrations, trade dress, designs, data, database rights, Internet domain names, copyrights, works of authorship, proprietary information and know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures) and any other intellectual property (collectively, "<u>Intellectual Property</u>") which are reasonably necessary for the present conduct of their respective businesses in the manner described in the Registration Statement, the Pricing Disclosure Package and the Prospectus; (ii) Intellectual Property owned by the Company and its Subsidiaries (collectively, "<u>Company Intellectual Property</u>") has not been adjudged by a court of competent jurisdiction to be invalid or unenforceable, in whole or in part, and to the Company's knowledge there are not any facts which would form a reasonable basis for any such adjudication; (iii) the Company Intellectual Property is free and clear of all liens, encumbrances, or other security interests other than licenses or other grants of rights granted in the ordinary course of business and the Company and its Subsidiaries have not received any written notice of any claim of infringement, misappropriation or conflict with any intellectual property rights of another in any material respect; (iv) to the Company's knowledge, there is no infringement by third parties of any material Company Intellectual Property; (v) there is no pending or, to the Company's knowledge, threatened (in writing) action, suit, proceeding or claim by others: (A) challenging the Company's rights in or to any Company Intellectual Property; (B) challenging the validity, enforceability or scope of any Company Intellectual Property; or (C) asserting that the Company or its Subsidiaries infringe, misappropriate, or otherwise violate, or would, upon the commercialization of any product or service described in the Registration Statement, the Pricing Disclosure Package, and the Prospectus as under development, infringe, misappropriate, or otherwise violate, any intellectual property rights of others; (vi) the Company and its Subsidiaries have complied in all material respects with the terms of each agreement pursuant to which

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material Intellectual Property has been licensed to the Company or its Subsidiaries; (vii) the Company and its Subsidiaries have taken commercially reasonable steps to protect, maintain and safeguard the confidentiality of all information intended to be maintained by them as a trade secret; (viii) each employee of the Company engaged in the development of material Intellectual Property on behalf of the Company or any Subsidiary has executed appropriate nondisclosure, confidentiality or invention assignment agreements and, to the Company's knowledge, no employee of the Company is , with respect to the employee's employment by the Company, in violation of any material term of any such agreement, or any restrictive covenant to or with a former employer where the basis of such violation relates to such employee's employment with the Company. (ix) the Company and its Subsidiaries have not integrated, embedded, incorporated, distributed or otherwise used any "open source" software in any manner that requires the Company or any of its Subsidiaries to: (A) disclose or make any of the material proprietary software of the Company or any of its Subsidiaries available in source code form; (B) make any of the material proprietary software of the Company or any of its Subsidiaries available for the purpose of creating derivative works; or (C) distribute any of the products or services of the Company or its Subsidiaries free of charge; and (x) to the Company's knowledge, the Company and each of its Subsidiaries is in compliance in all material respects with the terms and conditions of all "open source" software licenses to which they are bound (other than requirements to provide attribution or other notice); (xi) none of the Company Intellectual Property that is material to the business of the Company or its Subsidiaries has been obtained or is being used by the Company or its Subsidiary in violation of any material contractual obligation binding on the Company or its Subsidiaries or, to the knowledge of Company, binding on any of their respective officers, directors or employees; (xii) all license agreements that the Company or any of its Subsidiaries are party to for the use of Intellectual Property that is licensed to the Company or its Subsidiaries and that is material to the business of the Company or its Subsidiaries ("<u>Material Intellectual Property Licenses</u>") are, to the knowledge of the Company, valid, binding upon, and enforceable by or against the parties thereto in accordance to their applicable terms; and (xiii) the Company has complied in all material respects with, and is not in material breach nor has received in writing any asserted or threatened claim of breach of any Material Intellectual Property License, and the Company has no knowledge of any material breach or anticipated material breach by any other person to any Material Intellectual Property License.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)<u>Insurance</u>. The Company and the Subsidiaries, taken as a whole, are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as the Company and the Subsidiaries reasonably believes are prudent and customary in the businesses in which the Company and the Subsidiaries are currently engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not, singly or in aggregate, result in a Material Adverse Effect, taken as a whole.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)<u>Transactions With Related Parties</u>. Except as set forth in the Registration Statement, the Pricing Disclosure Package, and the Prospectus, none of the executive officers or directors of the Company is presently a party to any transaction with the

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Company (other than for services as executive officers and directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, providing for the borrowing of money from or lending of money to or otherwise requiring payments to or from, any executive officer or director or, to the knowledge of the Company, any entity in which any executive officer or director has a substantial interest or is an executive officer, director, trustee, stockholder, member or partner, in each case in excess of $120,000 other than for (i) payment of salary or consulting fees for services rendered, (ii) reimbursement for expenses incurred on behalf of the Company and (iii) other employee benefits, including stock option agreements under any stock option plan of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)<u>Sarbanes-Oxley; Internal Accounting Controls</u>. The Company and the Subsidiaries are, or at the Applicable Time and on the Closing Date will be, in material compliance with any and all applicable requirements of the Sarbanes-Oxley Act of 2002 that are effective as of the Execution Date, and any and all applicable rules and regulations promulgated by the Commission thereunder that are effective as of the Execution Date, the Applicable Time, and the Closing Date (it being understood that this Section 3.1(t) shall not require the Company to comply with Section 404 of the Sarbanes Oxley Act of 2002 as of an earlier date than it would otherwise be required to so comply under applicable law). The Company and the Subsidiaries maintain a system of internal accounting controls over financial reporting (as such term is defined in Rule 13a-15(f) under the Exchange Act) that (i) complies with the requirements of the Exchange Act applicable to the Company and its Subsidiaries and (ii) has been designed to provide reasonable assurance that: (i) transactions are executed in accordance with management's general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management's general or specific authorization, and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The Company and the Subsidiaries have established disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Company and the Subsidiaries and designed such disclosure controls and procedures in order that information required to be disclosed by the Company in the reports it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission's rules and forms. Except as disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus, since the end of the Company's most recent audited fiscal year there has been (1) no material weakness in the Company's internal control over financial reporting (whether or not remediated) and (2) no change in the Company's internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting. The Company's auditors and the Audit Committee of the Board of Directors of the Company have been advised of: (i) all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are known to the Company's management and that have adversely affected or are reasonably likely to adversely affect the Company' ability to record, process, summarize and report financial information; and (ii) any fraud known to the Company's management,

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whether or not material, that involves management or other employees who have a significant role in the Company's internal controls over financial reporting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u)<u>Certain Fees</u>. Except as set forth in the Registration Statement, the Pricing Disclosure Package, and the Prospectus, no brokerage or finder's fees or commissions are or will be payable by the Company, any Subsidiary or Affiliate of the Company to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated by this Agreement. To the Company's knowledge, there are no other arrangements, agreements or understandings of the Company or, to the Company's knowledge, any of its stockholders that may affect the Underwriters' compensation, as determined by FINRA. Except as described in the Registration Statement, the Pricing Disclosure Package, and the Prospectus, the Company has not made any direct or indirect payments (in cash, securities or otherwise) to: (i) any person, as a finder's fee, consulting fee or otherwise, in consideration of such person raising capital for the Company or introducing to the Company persons who raised or provided capital to the Company; (ii) any FINRA member; or (iii) any person or entity that has any direct or indirect affiliation or association with any FINRA member, within the twelve months prior to the Execution Date. None of the net proceeds of the Offering will be paid by the Company to any participating FINRA member or its affiliates, except as specifically authorized herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)<u>Investment Company</u>. The Company is not, and immediately after receipt of payment for the Public Shares will not be, an "investment company" within the meaning of the Investment Company Act of 1940, as amended. The Company shall conduct its business in a manner so as to avoid becoming an "investment company" subject to registration under the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w)<u>Listing and Maintenance Requirements</u>. The Company has filed with the Commission a Form 8-A (File Number 000-[●]) providing for the registration under the Exchange Act of the Public Shares. The registration of the Public Shares under the Exchange Act has been declared effective by the Commission on the Execution Date. The Common Stock is registered pursuant to Section 12(b) of the Exchange Act, and the Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act nor has the Company received any notification that the Commission is contemplating terminating such registration. The Common Stock have been approved for listing on the Nasdaq Global Select Market (the "<u>Exchange</u>"), subject to notice of issuance, and the Company has taken no action designed to, or likely to have the effect of, delisting the Common Stock from the Exchange, nor has the Company received any notification that the Exchange is contemplating terminating such listing. The Company has not received notice from the Exchange that the Company is not in compliance with the listing or maintenance requirements of the Exchange. The Company is, and has no reason to believe that it will not in the foreseeable future continue to be, in compliance with all such listing and maintenance requirements. The Common Stock is currently eligible for electronic transfer through the Depository Trust Company or another established clearing corporation and the Company is current in payment of the fees of the Depository Trust Company (or

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such other established clearing corporation) in connection with such electronic transfer or will be prior to the occurrence of such electronic transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)<u>Application of Takeover Protections</u>. The Company and the Board of Directors have taken all necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar anti-takeover provision under the Company's certificate of incorporation (or similar charter documents) or the laws of its state of incorporation that is or could become applicable as a result of the Underwriters and the Company fulfilling their obligations or exercising their rights under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y)<u>Disclosure; 10b-5</u>. The Registration Statement (and any further documents to be filed with the Commission) contains all exhibits and schedules as required by the Securities Act. Each of the Registration Statement and any post-effective amendment thereto, if any, at the time it became effective, complied in all material respects with the Securities Act and the Exchange Act and the applicable rules and regulations under the Securities Act. Each of the Preliminary Prospectus, including the prospectus filed as part of the Registration Statement as originally filed or as part of any amendment or supplement thereto, and the Prospectus, each as of its respective date, complied, and will comply, in all material respects with the Securities Act and the Exchange Act and the applicable rules and regulations. Each Preliminary Prospectus delivered to the Underwriters for use in connection with this Offering and the Prospectus was or will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T. Neither the Registration Statement nor any amendment thereto, at its effective time, as of the Applicable Time, at the Closing Date or at any Option Closing Date (if any), contained, contains or will contain an untrue statement of a material fact or omitted, omits or will omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. The Pricing Disclosure Package, as of the Applicable Time, at the Closing Date or at any Option Closing Date (if any), did not, does not and will not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. Each Issuer Limited Use Free Writing Prospectus hereto does not conflict with the information contained in the Registration Statement, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus, and each such Issuer Limited Use Free Writing Prospectus, as supplemented by and taken together with the Pricing Prospectus as of the Applicable Time, did not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading; <u>provided</u>, <u>however</u>, that this representation and warranty shall not apply to statements made or statements omitted in reliance upon and in conformity with written information furnished to the Company with respect to the Underwriters by the Representatives expressly for use in the Registration Statement, the Pricing Prospectus or the Prospectus or any amendment thereof or supplement thereto. The parties acknowledge and agree that such information provided by or on behalf of any Underwriter consists solely of the following disclosure contained in the "Underwriting" section of the Prospectus: (i) the table showing the number of securities to be purchased by each Underwriter, (ii) the first paragraph of the section titled "Discounts, Commissions and

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Expenses," (iii) the first clause of the first paragraph and the first sentence of the second paragraph of the section titled "Price Stabilization, Short Positions and Penalty Bids," (iv) the sections titled "Electronic Distribution," and (v) the first sentence of the first paragraph of the section titled "Offer Restrictions Outside the United States" (the "<u>Underwriters' Information</u>"). Neither the Prospectus nor any amendment or supplement thereto (including any prospectus wrapper), as of its issue date, at the time of any filing with the Commission pursuant to Rule 424(b), at the Closing Date or at any Option Closing Date, included, includes or will include an untrue statement of a material fact or omitted, omits or will omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; <u>provided</u>, <u>however</u>, that this representation and warranty shall not apply to the Underwriters' Information. No forward-looking statement (within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act) included in any of the Registration Statement, the Pricing Disclosure Package or the Prospectus has been made or reaffirmed without a reasonable basis or has been disclosed other than in good faith. The statistical and market-related data included in each of the Registration Statement, the Pricing Disclosure Package and the Prospectus are based on or derived from sources that the Company reasonably and in good faith believes are reliable and accurate or represent the Company's good faith estimates that are made on the basis of data derived from such sources. No post-effective amendment to the Registration Statement reflecting any facts or events arising after the date thereof which represent, individually or in the aggregate, a fundamental change in the information set forth therein which could reasonably be expected to constitute a Material Adverse Effect that is required to be filed with the Commission as of the Execution Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z)<u>No Integrated Offering</u>. Neither the Company, nor any of its Affiliates, nor any Person acting on its or their behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances that would cause this offering of the Public Shares to be integrated with prior offerings by the Company for purposes of any applicable stockholder approval provisions of any Trading Market on which any of the securities of the Company are listed or designated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa)<u>Solvency</u>. Based on the consolidated financial condition of the Company as of the Execution Date, after giving effect to the receipt by the Company of the proceeds from the sale of the Public Shares hereunder, the Company reasonably believes that (i) the fair saleable value of the Company's assets exceeds the amount that will be required to be paid on or in respect of the Company's existing debts and other liabilities (including known contingent liabilities) as they mature, (ii) the Company's assets do not constitute unreasonably small capital to carry on its business as now conducted and as proposed to be conducted including its capital needs taking into account the particular capital requirements of the business conducted by the Company, consolidated and projected capital requirements and capital availability thereof, and (iii) the current cash flow of the Company, together with the proceeds the Company would receive, were it to liquidate all of its assets, after taking into account all anticipated uses of the cash, would be sufficient to pay all amounts on or in respect of its liabilities when such amounts are required to be paid. The Company does not intend to incur debts beyond its ability to pay such debts as they mature (taking into account the timing and amounts of cash to be payable on or in

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respect of its debt). The Company has no knowledge of any facts or circumstances which lead it to believe that it will file for reorganization or liquidation under the bankruptcy or reorganization laws of any jurisdiction within one year from the Execution Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb)<u>Tax Status</u>. Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect, the Company and its Subsidiaries each (i) has made or filed all United States federal, state and local income and all non-U.S. income and franchise tax returns, reports and declarations required to be filed by the Company or its Subsidiaries in any jurisdiction to which it is subject or has properly requested extensions thereof, (ii) has paid all taxes and other governmental assessments and charges in the nature of a tax that are material in amount, shown or determined to be due and payable on such returns, reports and declarations (except such taxes that are being contested in good faith and by appropriate proceedings) and (iii) has set aside on its books provision reasonably adequate for the payment of all material taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company or of any Subsidiary know of no basis for any such claim. The provisions for taxes payable, if any, shown on the financial statements filed with or as part of the Registration Statement are sufficient for all accrued and unpaid taxes, whether or not disputed, and for all periods to and including the dates of such consolidated financial statements. The term "taxes" mean all U.S. federal, state, local, non-U.S., and other net income, gross income, gross receipts, sales, use, ad valorem, transfer, franchise, profits, license, lease, service, service use, withholding, payroll, employment, excise, severance, stamp, occupation, premium, property, windfall profits, customs, duties or other taxes, fees, assessments, or charges of any kind whatsoever in the nature of a tax, together with any interest and any penalties, additions to tax, or additional amounts with respect thereto. The term "returns" means all returns, declarations, reports, statements, and other documents required to be filed with any taxing authority in respect to taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc)<u>Foreign Corrupt Practices</u>. Neither the Company nor any Subsidiary, nor to the knowledge of the Company or any Subsidiary, any agent or other person acting on behalf of the Company or any Subsidiary, has (i) directly or indirectly, used any funds for unlawful contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns from corporate funds, (iii) failed to disclose fully any contribution made by the Company or any Subsidiary (or made by any person acting on its behalf of which the Company is aware) which is in violation of the FCPA, or (iv) violated in any material respect any provision of FCPA. The Company has taken reasonable steps to ensure that its accounting controls and procedures are sufficient to cause the Company to comply in all material respects with the FCPA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd)<u>Accountants</u>. The Company Auditor, whose report is filed with the Commission as part of the Registration Statement, the Pricing Disclosure Package and the Prospectus, is an independent registered public accounting firm as required by the Securities Act and the rules and regulations of the Securities Act and the Public Company

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Accounting Oversight Board. The Company Auditor has not, during the periods covered by the financial statements included in the Registration Statement, the Pricing Disclosure Package and the Prospectus, provided to the Company any prohibited non-audit services, as such term is used in Section 10A(g) of the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee)<u>Office of Foreign Assets Control</u>. Neither the Company nor any of its Subsidiaries, directors or officers, nor, to the knowledge of the Company, any employee, agent, affiliate or other Person associated with or acting on behalf of the Company or any of its Subsidiaries is currently the subject or the target of any sanctions administered or enforced by the U.S. government (including, without limitation, the Office of Foreign Assets Control of the U.S. Department of the Treasury ("<u>OFAC</u>") or the U.S. Department of State and including, without limitation, the designation as a "specially designated national" or "blocked person"), the United Nations Security Council, the European Union, His Majesty's Treasury, or other relevant sanctions authority (collectively, "<u>Sanctions</u>"), nor is the Company or any of its Subsidiaries located, organized or resident in a country or territory that is the subject or target of Sanctions, including, without limitation, the Crimea Region of Ukraine, the so-called Donetsk People's Republic, the so-called Luhansk People's Republic, or the non-Ukrainian-government controlled regions of Kherson or Zaporizhzhia of Ukraine, Cuba, Iran, and North Korea (each, a "<u>Sanctioned Country</u>"); and the Company will not directly or indirectly use the proceeds of the offering of the Public Shares hereunder, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person or entity, in violation of Sanctions, (i) to fund or facilitate any activities of or business with any Person that, at the time of such funding or facilitation, is the subject or target of Sanctions, (ii) to fund or facilitate any activities of or business in any Sanctioned Country, or (iii) in any other manner that will result in a violation by any Person (including any Person participating in the transaction, whether as underwriter, advisor, investor or otherwise) of Sanctions. For the past five years, the Company and its Subsidiaries have not knowingly engaged in and are not now knowingly engaged and will not engage in any dealings or transactions with any person that at the time of the dealing or transaction is or was the subject or the target of Sanctions or with any Sanctioned Country. The Company and its Subsidiaries have instituted, maintain and enforce, and will continue to maintain and enforce policies and procedures designed to promote and ensure compliance with all Sanctions provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff)<u>U.S. Real Property Holding Corporation</u>. The Company is not and has never been a U.S. real property holding corporation within the meaning of Section 897 of the Internal Revenue Code of 1986, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg)<u>Money Laundering</u>. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with applicable financial record-keeping and reporting requirements, including, to the extent applicable, those of the Bank Secrecy Act, as amended by Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act), the Money Laundering Control Act of 1986, the Anti-Money Laundering Act of 2020, the U.S. Currency and Foreign Transactions Reporting Act of 1970, as amended, applicable anti-money laundering statutes of jurisdictions where the Company and each of the Subsidiaries conduct business, each as may be amended, and the

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rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the "<u>Money Laundering Laws</u>"), and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any Subsidiary with respect to the Money Laundering Laws is pending or, to the knowledge of the Company or any Subsidiary, threatened in writing. The Company and the Subsidiaries have instituted, maintained and enforced, and will continue to maintain and enforce policies and procedures designed to promote and ensure compliance with all applicable Money Laundering Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(hh)<u>Information From Directors, Officers, and Stockholders</u>. To the Company's knowledge, the information contained in the questionnaires completed by each of the Company's directors, officers, and stockholders of 10% or more of the Company's outstanding capital stock immediately prior to the Offering as well as in the Lock-Up Agreement provided to the Underwriters is true, correct, and complete in all material respects. The Company has not become aware of any information which would cause the information disclosed in such questionnaires become materially inaccurate and incorrect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)<u>Officers' Certificate</u>. Any certificate signed by any duly authorized officer of the Company and delivered to the Representative or Underwriter Counsel shall be deemed a representation and warranty by the Company to the Underwriters as to the matters covered thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jj)<u>Board of Directors</u>. The Board of Directors is comprised of the persons set forth under the heading of the Prospectus captioned "Management." The qualifications of the persons serving as board members and the overall composition of the Board of Directors comply with the Sarbanes-Oxley Act of 2002 and the rules promulgated thereunder applicable to the Company and the rules of the Trading Market. At least one member of the Board of Directors qualifies as a "financial expert" as such term is defined under the Sarbanes-Oxley Act of 2002 and the rules promulgated thereunder and the rules of the Exchange. In addition, at least a majority of the persons serving on the Board of Directors qualify as "independent" as defined under the rules of the Exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(kk)<u>Environmental Laws</u>. The Company and its Subsidiaries (i) are in compliance with all applicable U.S. federal, state, local and non-U.S. laws relating to pollution or protection of human health or the environment (including ambient air, surface water, groundwater, land surface or subsurface strata), including laws relating to emissions, discharges or releases of chemicals, pollutants, contaminants, or toxic or hazardous substances or wastes (collectively, "<u>Hazardous Materials</u>") into the environment, or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials, as well as all authorizations, codes, decrees, demands, or demand letters, injunctions, judgments, licenses, notices or notice letters, orders, permits, plans or regulations, issued, entered, promulgated or approved thereunder ("<u>Environmental Laws</u>"); (ii) have received all permits, licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses; and (iii) are in compliance with all material terms and conditions of any such permit, license or approval where in each clause (i), (ii) and (iii), the failure to so

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comply could be reasonably expected to have, individually or in the aggregate, a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ll)<u>Smaller Reporting Company.</u> As of the time of filing of the Registration Statement, the Company was a "smaller reporting company," as defined in Rule 12b-2 under the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(mm)<u>Emerging Growth Company</u>. From the time of the initial confidential submission of the Registration Statement to the Commission (or, if earlier, the first date on which the Company engaged directly in or through any Person authorized to act on its behalf in any Testing-the-Waters Communication) through the Execution Date, the Company has been and is an "emerging growth company," as defined in Section 2(a) of the Securities Act (an "<u>Emerging Growth Company</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(nn)<u>Testing-the-Waters Communications</u>. The Company has not (i) alone engaged in any Testing-the-Waters Communications, other than Testing-the-Waters Communications with the consent of the Representative and with entities that the Company reasonably believes are qualified institutional buyers within the meaning of Rule 144A under the Securities Act or institutions that are accredited investors within the meaning of Rule 501 under the Securities Act and (ii) authorized anyone other than the Representative to engage in Testing-the-Waters Communications. The Company confirms that the Representative has been authorized to act on its behalf in undertaking Testing-the-Waters Communications. The Company has not distributed any Testing-the-Waters Communications other than those listed on <u>Schedule II-C</u> hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(oo)<u>Electronic Road Show</u>. The Company has made available a Bona Fide Electronic Road Show in compliance with Rule 433(d)(8)(ii) under the Securities Act such that no filing of any "road show" (as defined in Rule 433(h) under the Securities Act) is required in connection with the Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(pp) <u>Margin Securities</u>. The Company owns no "margin securities" as that term is defined in Regulation U of the Board of Governors of the Federal Reserve System (the "<u>Federal Reserve Board</u>"), and none of the proceeds of the Offering will be, directly or indirectly, for the purpose of purchasing or carrying any margin security, for the purpose of reducing or retiring any indebtedness which was originally incurred to purchase or carry any margin security or for any other purpose which might cause any of the shares of Common Stock to be considered a "purpose credit" within the meanings of Regulation T, U or X of the Federal Reserve Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(qq)<u>Ineligible Issuer</u>. At the time of filing the Registration Statement and any post-effective amendment thereto, at the earliest time thereafter that the Company or another offering participant made a bona fide offer (within the meaning of Rule 164(h)(2) under the Securities Act) of the Public Shares and at the date hereof, the Company is not an "ineligible issuer," as defined in Rule 405 under the Securities Act, without taking account of any determination by the Commission pursuant to Rule 405 under the Securities Act that it is not necessary that the Company be considered an ineligible issuer.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(rr)<u>Covered Person.</u> Neither the Company nor any of its Subsidiaries is a "covered foreign person," as that term is defined in 31 C.F.R. § 850.209. Neither the Company nor any of its Subsidiaries is a "person of a country of concern", as that term is defined in 31 C.F.R. § 850.221, that currently engages, or has plans to engage, directly or indirectly, in a "covered activity", as that term is defined in 31 C.F.R. § 850.208. The Company also does not, directly or indirectly, hold a board seat on, have a voting or equity interest in, or have any contractual power to direct or cause the direction of the management or policies of any "covered foreign person," as that term is defined in 31 C.F.R. § 850.209.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ss)<u>Nationally Recognized Statistical Rating Organization.</u> The Company does not have any securities rated by any "nationally recognized statistical rating organization," as such term is defined in Section 3(a)(62) of the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(tt)<u>Privacy Laws</u>. Except as would not have or reasonably be expected to result in a Material Adverse Effect, the Company and its Subsidiaries are in compliance with all applicable data privacy and security laws and regulations (including all applicable and legally binding codes of conduct and practice, guidance, and opinions relating to data protection and privacy issued in any relevant jurisdiction by any governmental, judicial, regulatory or supervisory authority), including, as applicable, the European Union General Data Protection Regulation (EU 2016/679), and as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (to the extent applicable to the Company and its Subsidiaries) (collectively, "<u>GDPR</u>") (collectively, "<u>Privacy Laws</u>"). Except as would not have or reasonably be expected to result in a Material Adverse Effect, the Company and its Subsidiaries have in place, comply with, and take appropriate steps reasonably designed to ensure compliance in all material respects with their policies and procedures relating to data privacy and security and the collection, storage, use, disclosure, handling and analysis of Personal Data (the "<u>Policies</u>"). The Company provides accurate notice of its Policies to its customers, employees, third party vendors and representatives, in each case, to the extent required by Privacy Law or the Policies, except as would not have or reasonably be expected to result in a Material Adverse Effect. "<u>Personal Data</u>" means data or information that is defined as "personal data," "personal information," or any analogous term under applicable law, including any such data or information that (i) constitutes a natural persons' name, street address, telephone number, email address, photograph, social security number, bank information, or customer or account number and (ii) any other piece of information that allows the identification of such natural person, or his or her family, or permits the collection or analysis of any data related to an identified person's health or sexual orientation. Except as would not have or reasonably be expected to result in a Material Adverse Effect, neither the Company nor any of its Subsidiaries, (i) has received written notice alleging its actual or potential violation of Privacy Laws, and has no knowledge of any event or condition that is reasonably expected to result in any such notice, (ii) is currently conducting or paying for, in whole or in part, any investigation, remediation or other corrective action pursuant to any Privacy Order in connection with violations of Privacy Law, or (iii) is a party to any regulatory order, consent decree, or agreement with a regulator that imposed any obligation or liability on the Company or its Subsidiaries under any Privacy Law ("<u>Privacy Order</u>").

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(uu)<u>IT Systems</u>. Except as would not have or reasonably be expected to result in a Material Adverse Effect, the Company and its Subsidiaries' information technology assets and equipment, computers, systems, networks, hardware, software, websites, applications, and databases (collectively, "<u>IT Systems</u>") operate and perform as required in connection with the operation of the business of the Company and its Subsidiaries as currently conducted, free and clear of all material bugs, errors, and defects, and, to the Company's knowledge, material Trojan horses, time bombs, malware and other corruptants. Except as would not have or reasonably be expected to result in a Material Adverse Effect, (i) the Company and its Subsidiaries have in place, as at the date of this Agreement, controls, policies, procedures, and safeguards designed to maintain and protect their material confidential information and the integrity, continuous operation, redundancy and security of all IT Systems and data (including Personal Data) used by the Company and its Subsidiaries in their businesses, and (ii) in the two years immediately preceding the date of this Agreement, to Company's knowledge, there have been no breaches, violations, outages or unauthorized uses of, or accesses to, the same, except for those that have been remedied without material cost or liability or the duty to notify any other person, nor are there any incidents currently under internal review or investigations relating to the same. Except as would not have or reasonably be expected to result in a Material Adverse Effect, To the Company's knowledge, the Company and its Subsidiaries are presently in compliance with all applicable laws and legally binding statutes, judgments, orders, rules and regulations of any court or arbitrator or governmental or regulatory authority, and the Company's and its Subsidiaries' internal policies and contractual obligations, in each case, relating to the privacy and security of IT Systems and to the protection of such IT Systems from unauthorized use, access, misappropriation or modification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vv)<u>Artificial Intelligence</u>. Except as would not have or reasonably be expected to result in a Material Adverse Effect, (i) the Company and its Subsidiaries are taking or have taken actions designed to prepare to comply with the European Union Artificial Intelligence Act (to the extent applicable to the Company and its Subsidiaries) and (ii) neither the Company nor any of its Subsidiaries, (A) has received written notice alleging any actual or potential violation of the EU AI Act by the Company or its Subsidiaries from any governmental or regulatory agencies or bodies, (B) is currently conducting or paying for, in whole or in part, any investigation, remediation or other corrective action in connection with an EU AI Act Order that is by or mandated by any governmental or regulatory agency or body pursuant to violations of the EU AI Act or (C) is a party to any regulatory order, consent decree, or agreement with any governmental or regulatory agency or body that imposed any obligation or liability on the Company or its Subsidiaries under the EU AI Act ("<u>EU AI Act Order</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ww)<u>Lock-Up Agreements</u>. The Representative has received an executed Lock-Up Agreement from each of the parties specified in <u>Schedule III</u> (the "<u>Lock-up Parties</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx)<u>Compliance with Directed Share Program</u>. The Registration Statement, the Pricing Disclosure Package, the Prospectus and any preliminary prospectus comply, and any amendments or supplements thereto will comply, with any applicable laws or regulations of non-U.S. jurisdictions in which the Pricing Disclosure Package, the

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Prospectus or any preliminary prospectus, as amended or supplemented, if applicable, are distributed in connection with the Directed Share Program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(yy)<u>Unlawful Influence</u>. The Company has not offered, or caused the Representative, Fidelity, each person, if any, who controls Fidelity within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of Fidelity within the meaning of Rule 405 of the Securities Act (collectively, the "Fidelity <u>Parties</u>") to offer, Public Shares to any person pursuant to the Directed Share Program with the specific intent to unlawfully influence (i) a customer or supplier of the Company to alter the customer's or supplier's level or type of business with the Company, or (ii) a trade journalist or publication to write or publish favorable information about the Company or its products.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(zz)<u>Directed by Company</u>. The Company has specifically directed in writing the allocation of Public Shares to each Participant in the Directed Share Program, and neither Fidelity nor any other Underwriter has had any involvement or influence, directly or indirectly, in such allocation decision.

**ARTICLE IV.** 

**OTHER AGREEMENTS OF THE PARTIES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1<u>Delivery to the Underwriters of Registration Statement and Prospectus</u>. The Company has delivered or made available or shall deliver or make available to the Representatives and counsel for the Representatives, without charge, copies of the Registration Statement as originally filed and each amendment thereto (including exhibits filed therewith) and copies of all consents and certificates of experts, and will also deliver to the Underwriters, without charge, a conformed copy of the Registration Statement as originally filed and each amendment thereto (without exhibits) for each of the Underwriters. The Company has delivered or made available or will deliver or make available to each Underwriter, without charge, as many copies of each Preliminary Prospectus as such Underwriter reasonably requested, and the Company hereby consents to the use of such copies for purposes permitted by the Securities Act. The Company will furnish to each Underwriter, without charge, during the period when a prospectus relating to the Public Shares is (or, but for the exception afforded by Rule 172 under the Securities Act, would be) required to be delivered under the Securities Act, such number of copies of the Prospectus (as amended or supplemented) as such Underwriter may reasonably request. The copies of the Registration Statement and each amendment thereto, and the Prospectus and any amendments or supplements thereto, furnished to the Underwriters will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T. The Company shall not file any such amendment or supplement to which the Representatives shall reasonably object in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2<u>Federal Securities Laws</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Compliance</u>. During the time when a Prospectus is required to be delivered under the Securities Act, the Company will use its best efforts to comply with all requirements imposed upon it by the Securities Act and the rules and regulations thereunder and the Exchange Act and the rules and regulations thereunder, as from time to time in

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force, so far as necessary to permit the continuance of sales of or dealings in the Public Shares in accordance with the provisions hereof and the Prospectus. If at any time when a Prospectus relating to the Public Shares is required to be delivered under the Securities Act, any event shall have occurred as a result of which, in the reasonable opinion of counsel for the Company or counsel for the Underwriters, the Prospectus, as then amended or supplemented, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, or if it is necessary at any time to amend the Prospectus to comply with the Securities Act, the Company will notify the Underwriters promptly and prepare and file with the Commission, subject to Section 4.1 hereof, an appropriate, in the Company's reasonable opinion, amendment or supplement in accordance with Section 10 of the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Filing of Prospectus</u>. The Company will file the Prospectus (in form and substance satisfactory to the Representative) with the Commission pursuant to the requirements of Rule 424.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Free Writing Prospectuses</u>. The Company represents and agrees that it has not made and will not make any offer relating to the Public Shares that would constitute an Issuer Free Writing Prospectus, or that would otherwise constitute a "free writing prospectus," or a portion thereof, required to be filed by the Company with the Commission or retained by the Company under Rule 433, without the prior written consent of the Representatives; provided that the Representatives shall be deemed to have consented to each Issuer General Use Free Writing Prospectus hereto and any "road show that is a written communication" within the meaning of Rule 433(d)(8)(i) that has been reviewed by the Representatives. The Company represents that it has treated or agrees that it will treat each such free writing prospectus consented to, or deemed consented to, by the Underwriters as an "issuer free writing prospectus" as defined in Rule 433 of the Securities Act, and has complied and will comply with the applicable requirements of Rule 433 of the Securities Act, including timely Commission filing where required, legending and record keeping. If at any time following issuance of an Issuer Free Writing Prospectus there occurred or occurs an event or development as a result of which such Issuer Free Writing Prospectus conflicted or would conflict with the information contained in the Registration Statement or included or would include an untrue statement of a material fact or omitted or would omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances existing at that subsequent time, not misleading, the Company will promptly notify the Underwriters and will promptly amend or supplement, at its own expense, such Issuer Free Writing Prospectus to eliminate or correct such conflict, untrue statement or omission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3<u>Testing-the-Waters Communications</u>. If at any time following the distribution of any Testing-the-Waters Communication there occurred or occurs an event or development as a result of which such Written Testing-the-Waters Communication included or would include an untrue statement of a material fact or omitted or would omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances existing at that subsequent time, not misleading, the Company shall promptly notify the Representatives and shall promptly

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amend or supplement, at its own expense, such Testing-the-Waters Communication to eliminate or correct such untrue statement or omission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4<u>Notice to the Underwriters</u>. The Company will notify the Underwriters promptly and confirm the notice in writing: (i) of the effectiveness of the Registration Statement and any amendment thereto; (ii) of the issuance by the Commission of any stop order or of the initiation, or the threatening, of any proceeding for that purpose; (iii) of the issuance by any state securities commission of any proceedings for the suspension of the qualification of the Public Shares for offering or sale in any jurisdiction or of the initiation, or the threatening, of any proceeding for that purpose; (iv) of the mailing and delivery to the Commission for filing of any amendment or supplement to the Registration Statement or Prospectus; (v) of the receipt of any comments or request for any additional information from the Commission; and (vi) of the happening of any event during the period described in this Section 4.4 that, in the judgment of the Company, makes any statement of a material fact made in the Registration Statement or the Prospectus untrue or that requires the making of any changes in the Registration Statement or the Prospectus in order to make the statements therein, in light of the circumstances under which they were made, not misleading. If the Commission or any state securities commission shall enter a stop order or suspend such qualification at any time, the Company will make every reasonable effort to obtain promptly the lifting of such order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5<u>Reports to Underwriters</u>. For a period of two years from the date of this Agreement, so long as the Shares are outstanding, the Company will furnish to the Representatives, as soon as they are available, copies of all reports or other communications (financial or other) furnished to holders of the Common Stock, and copies of any reports and financial statements furnished to or filed with the Commission or any national securities exchange or automatic quotation system; provided the Company will be deemed to have furnished such reports and financial statements to the Representatives to the extent they are filed on EDGAR.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6<u>Expenses of the Offering</u>. The Company hereby agrees to pay on each of the Closing Date and each Option Closing Date, if any, to the extent not paid at the Closing Date, all expenses incident to the performance of the obligations of the Company under this Agreement, including, but not limited to: (a) all filing fees and communication expenses relating to the registration of the Public Shares to be sold in the Offering (including the Option Shares) with the Commission; (b) FINRA Public Offering Filing System fees associated with the review of the Offering by FINRA and the reasonable and documented fees and expenses of counsel related thereto; (c) all fees and expenses relating to the listing of such Closing Shares and Option Shares on the Trading Market and such other stock exchanges as the Company and the Representative together determine; (d) all fees, expenses and disbursements relating to the registration or qualification of such Public Shares under the "blue sky" securities laws of such states and other non-U.S. jurisdictions as the Representative may reasonably designate (including, without limitation, all filing and registration fees, and the reasonable and documented fees and expenses of "blue sky" counsel; <u>provided</u>, <u>however</u>, that the reasonable and documented fees and expenses of counsel pursuant to the preceding clauses (b) and (c) shall not together exceed $25,000); (e) the reasonable and documented costs of all mailing and printing of the underwriting documents (including, without limitation, this Agreement and, if appropriate, any agreement among underwriters, selected dealers' agreement, underwriters' questionnaire and power of attorney),

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Registration Statements, Prospectuses and all amendments, supplements and exhibits thereto and as many preliminary and final Prospectuses as the Representative may reasonably deem necessary; (f) the costs and expenses of the Company's public relations firm; (g) the costs of preparing, printing and delivering the Public Shares; (h) fees and expenses of the Transfer Agent for the Public Shares (including, without limitation, any fees required for same-day processing of any instruction letter delivered by the Company); (i) stock transfer and/or stamp taxes, if any, payable upon the transfer of securities from the Company to the Underwriters (other than New York state stock transfer tax, to the extent refundable to the Underwriters); (j) the fees and expenses of the Company's accountants; (k) the fees and expenses of the Company's legal counsel and other agents and representatives; (l) the Underwriters' costs of mailing prospectuses to prospective investors; (m) up to $400,000 for the fees and expenses of Underwriter Counsel, provided, that if the Offering is not consummated, such fees and expenses of Underwriter Counsel shall not exceed $200,000; (n) all fees and disbursements of counsel incurred by the Underwriters in connection with the Directed Share Program and stamp duties, similar taxes or duties or other taxes, if any, incurred by the Underwriters (other than New York state stock transfer tax, to the extent refundable to the Underwriters) in connection with the Directed Share Program; (o) all fees, expenses and disbursements relating to background checks of the Company's officers and directors; (p) the Underwriters' use of i-Deal's book-building, prospectus tracking and compliance software (or other similar software) for the Offering; (q) the Underwriters' reasonable and documented "road show" expenses for the Offering; and (r) the Underwriters' reasonable and documented travel expenses; provided, that, the expenses in subsections (p) through (r) shall not exceed $100,000. It is understood, however, that, except as provided in this <u>Section 4.6</u>, the Underwriters shall pay all of their costs and expenses, including the fees of their counsel, stock transfer taxes on resale of any of the Public Shares by them, and any advertising expenses connected with any offers they may make.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7<u>Application of Net Proceeds</u>. The Company will apply the net proceeds from the Offering received by it in a manner consistent with the application described under the caption "Use of Proceeds" in the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8<u>Delivery of Earnings Statements to Security Holders</u>. The Company will make generally available to its security holders as soon as practicable, but not later than the first day of the fifteenth full calendar month following the Execution Date, an earnings statement (which need not be certified by independent public or independent certified public accountants unless required by the Securities Act or the Rules and Regulations under the Securities Act, but which shall satisfy the provisions of Rule 158(a) under Section 11(a) of the Securities Act) covering a period of at least twelve (12) consecutive months beginning after the Execution Date, provided, that the documents filed by the Company with the Commission shall be deemed to be delivered.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9<u>Stabilization</u>. Neither the Company, nor, to its knowledge, any of its employees, directors or stockholders (without the consent of the Representative) has taken or shall take, directly or indirectly, any action designed to or that has constituted or that might reasonably be expected to cause or result in, under Regulation M of the Exchange Act, or otherwise, stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Public Shares.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10<u>No Fiduciary Duties</u>. The Company acknowledges and agrees that the Underwriters' responsibility to the Company is solely contractual and commercial in nature, based on arms-length negotiations and that neither the Underwriters nor their affiliates or any selected dealer shall be deemed to be acting in a fiduciary capacity, or otherwise owes any fiduciary duty to the Company or any of its Affiliates in connection with the Offering and the other transactions contemplated by this Agreement. Notwithstanding anything in this Agreement to the contrary, the Company acknowledges that the Underwriters may have financial interests in the success of the Offering that are not limited to the difference between the price to the public and the purchase price paid to the Company by the Underwriters for the shares and the Underwriters have no obligation to disclose, or account to the Company for, any of such additional financial interests. The Company agrees that it will not claim that the Underwriters, or any of them, owes a fiduciary or similar duty to the Company, in connection with the Offering or the process leading thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.11<u>Listing of Common Stock</u>. The Company hereby agrees to use best efforts to maintain the listing or quotation of the Common Stock on The Nasdaq Stock Market.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.12<u>Subsequent Equity Sales</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)The Company, on behalf of itself and any successor entity, agrees that, without the prior written consent of the Representative, it will not, for a period of 180 days after the date of this Agreement (the "<u>Lock-Up Period</u>"), (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the Company; (ii) publicly file or caused to be publicly filed any registration statement with the Commission relating to the offering of any shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the Company; (iii) complete any offering of debt securities of the Company, other than entering into a line of credit with a traditional bank or (iv) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of capital stock of the Company, whether any such transaction described in clause (i), (ii), (iii) or (iv) above is to be settled by delivery of shares of capital stock of the Company or such other securities, in cash or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)The restrictions contained in this Section 4.12 shall not apply to (i) the shares Common Stock to be sold hereunder or the issuance, transfer, cancellation or exchange of securities of the Company or any Subsidiary in connection with the Corporate Reorganization or the transactions contemplated by this Agreement, (ii) the issuance by the Company of the shares of Common Stock upon the exercise of a stock option, vesting of restricted stock units or exercise of warrants, the conversion or vesting and settlement of a security outstanding on the Execution Date, including the issuance of shares of Class B common stock of the Company (the "<u>Class B Common Stock</u>") upon the conversion of the convertible senior secured promissory notes issued by Gloo Holdings, LLC in connection with the Offering (the "<u>Convertible Notes</u>"), or the issuance of Class B Common Stock in connection with the transfer, cancellation or exchange of membership interests of Gloo Holdings, LLC, Gloo Incentives, LLC, or any Subsidiary in connection with the Corporate

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Reorganization, which is disclosed in the Registration Statement, the Pricing Disclosure Package, and Prospectus, provided that such options, restricted stock units, warrants, Convertible Notes, and securities, as the case may be, have not been amended since the date of this Agreement to increase the number of such securities or to decrease the exercise price, exchange price or conversion price of such securities or to extend the term of such securities, (iii) the issuance by the Company of shares of Common Stock (whether upon the exercise of stock options or otherwise) to employees, officers, directors, advisors or consultants of the Company pursuant to any equity compensation plan of the Company, provided that in each of (ii) and (iii) above, each recipient of Common Stock shall execute a Lock-Up Agreement substantially in the form of <u>Exhibit A</u> hereto with respect to the remaining portion of the Lock-up Period, (iv) the filing by the Company of a registration statement on Form S-8 relating to the issuance, vesting, exercise or settlement of equity awards granted or to be granted pursuant to any employee benefit plan in effect on the Execution Date and described in the Pricing Prospectus, (vi) the establishment of a trading plan on behalf of the Company or an officer or director of the Company pursuant to Rule 10b5-1 under the Exchange Act for the transfer of shares of Common Stock, provided that (1) such plan does not provide for the transfer of Common Stock during the Lock-Up Period (except to the extent otherwise allowed pursuant to the terms of this Agreement) and (2) to the extent a public announcement or filing under the Exchange Act, if any, is required of or voluntarily made by the Company regarding the establishment of such plan, such announcement or filing shall include a statement to the effect that no transfer of Common Stock may be made under such plan during the Lock-Up Period, (vii) the sale or issuance of or entry into an agreement to sell or issue Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock in connection with one or more mergers; acquisitions of securities, businesses, property or other assets, products or technologies; joint ventures; commercial relationships or other strategic corporate transactions or alliances; provided that the aggregate amount of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock (on an as-converted, as-exercised or as-exchanged basis) that the Company may sell or issue or agree to sell or issue pursuant to this clause (vii) shall not exceed ten percent (10%) of the total number of shares of Common Stock and Class B Common Stock together issued and outstanding immediately following the completion of the transactions contemplated by this Agreement determined on a fully-diluted basis and assuming the issuance of all shares of Class B Common Stock in connection with the Reorganization, the conversion of the Convertible Notes, the exercise of the Warrants, the exchange of the Exchangeable Shares and the issuance of the XRI Shares, or (viii) the issuance of shares of capital stock of the Company in connection with the closing of the Company's pending acquisition of XRI Global, Inc., as disclosed in the Registration Statement (the "<u>XRI Shares</u>") which, for the avoidance of doubt, shall not count toward the ten percent (10%) issuable under clause (vii).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13<u>Release of D&O Lock-up Period</u>. If the Representative, in its sole discretion, agrees to release or waive the restrictions set forth in the Lock-Up Agreements for an officer or director of the Company and provide the Company with notice of the impending release or waiver at least three (3) Business Days before the effective date of the release or waiver, the Company agrees to announce the impending release or waiver by a press release substantially in the form of <u>Exhibit B</u> hereto through a major news service at least two (2) Business Days before the effective

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date of the release or waiver (or such other method approved by the Representative that satisfies the requirements of FINRA Rule 5131(d)(2)).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.14<u>Blue Sky Qualifications</u>. The Company shall use its best efforts, in cooperation with the Underwriters, if necessary, to qualify the Public Shares for offering and sale under the applicable securities laws of such states and other jurisdictions (domestic or foreign) as the Representative may designate and to maintain such qualifications in effect so long as required to complete the distribution of the Public Shares; <u>provided</u>, <u>however</u>, that the Company shall not be obligated to file any general consent to service of process or to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to subject itself to taxation in respect of doing business in any jurisdiction in which it is not otherwise so subject.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15<u>Reporting Requirements</u>. The Company, during the period when a prospectus relating to the Public Shares is (or, but for the exception afforded by Rule 172, would be) required to be delivered under the Securities Act, will use its reasonably best efforts to file all documents required to be filed with the Commission pursuant to the Exchange Act within the time periods required by the Exchange Act and Exchange Act Regulations. Additionally, the Company shall report the use of proceeds from the issuance of the Public Shares as may be required under Rule 463 under the Securities Act Regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.16<u>Emerging Growth Company Status</u>. The Company shall promptly notify the Representative if the Company ceases to be an Emerging Growth Company at any time prior to the later of (i) completion of the distribution of the Public Shares within the meaning of the Securities Act and (ii) the completion of the Lock-Up Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.17<u>Research Independence</u>. The Company acknowledges that each Underwriter's research analysts and research departments, if any, are required to be independent from their respective investment banking divisions and are subject to certain regulations and internal policies, and that such Underwriter's research analysts may hold and make statements or investment recommendations and/or publish research reports with respect to the Company and/or the offering that differ from the views of its investment bankers. The Company hereby waives and releases, to the fullest extent permitted by law, any claims that the Company may have against such Underwriter with respect to any conflict of interest that may arise from the fact that the views expressed by their independent research analysts and research departments may be different from or inconsistent with the views or advice communicated to the Company by such Underwriter's investment banking divisions. The Company acknowledges that the Representative is a full service securities firm and as such from time to time, subject to applicable securities laws, may effect transactions for its own account or the account of its customers and hold long or short position in debt or equity securities of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.18<u>Directed Share Program</u>. The Company shall, in all material respects, comply with applicable securities and other laws, rules and regulations in each jurisdiction in which the Directed Shares are offered in connection with the Directed Share Program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.19The Company will deliver to each Underwriter (or its agent), on the date of execution of this Agreement, a properly completed and executed Certification Regarding Beneficial Owners of Legal Entity Customers, together with copies of identifying documentation,

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and the Company undertakes to provide such additional supporting documentation as each Underwriter may reasonably request in connection with the verification of the foregoing Certification.

**ARTICLE V.** 

# DEFAULT BY UNDERWRITERS

# If on the Closing Date or any Option Closing Date, as the case may be, any Underwriter shall fail or refuse to purchase and pay for the portion of the Closing Shares or Option Shares, as the case may be, which such Underwriter has agreed to purchase and pay for on such date (otherwise than by reason of any default on the part of the Company), the Representative, or if the Representative is the defaulting Underwriter, the non-defaulting Underwriters, shall use their reasonable efforts to procure within 36 hours thereafter one or more of the other Underwriters, or any others, to purchase from the Company such amounts as may be agreed upon and upon the terms set forth herein, the Closing Shares or Option Shares, as the case may be, which the defaulting Underwriter or Underwriters failed to purchase. If during such 36 hours the Representative shall not have procured such other Underwriters, or any others, to purchase the Closing Shares or Option Shares, as the case may be, agreed to be purchased by the defaulting Underwriter or Underwriters, then (a) if the aggregate number of Closing Shares or Option Shares, as the case may be, with respect to which such default shall occur does not exceed 10% of the Closing Shares or Option Shares, as the case may be, covered hereby, the other Underwriters shall be obligated, severally, in proportion to the respective numbers of Closing Shares or Option Shares, as the case may be, which they are obligated to purchase hereunder, to purchase the Closing Shares or Option Shares, as the case may be, which such defaulting Underwriter or Underwriters failed to purchase, or (b) if the aggregate number of Closing Shares or Option Shares, as the case may be, with respect to which such default shall occur exceeds 10% of the Closing Shares or Option Shares, as the case may be, covered hereby, the Company or the Representative will have the right to terminate this Agreement without liability on the part of the non-defaulting Underwriters or of the Company except to the extent provided in Article VI hereof, including, for the avoidance of doubt, any liability for the expenses set forth in Section 4.6 herein. In the event of a default by any Underwriter or Underwriters, as set forth in this Article V, the applicable Closing Date may be postponed for such period, not exceeding seven days, as the Representative, or if the Representative is the defaulting Underwriter, the non-defaulting Underwriters, may reasonably determine in order that the required changes in the Prospectus or in any other documents or arrangements may be effected. The term "Underwriter" includes any person substituted for a defaulting Underwriter. Any action taken under this Article V shall not relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement.
**ARTICLE VI.** 

**INDEMNIFICATION**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1<u>Indemnification of the Underwriters</u>. Subject to the conditions set forth below, the Company agrees to indemnify and hold harmless the Underwriters, and each dealer selected by each Underwriter that participates in the offer and sale of the Public Shares (each a "<u>Selected Dealer</u>") and each of their respective directors, officers and employees and each Person, if any,

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who controls such Underwriter or any Selected Dealer ("<u>Controlling Person</u>") within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, against any and all loss, liability, claim, damage and expense whatsoever (including but not limited to any and all legal or other expenses reasonably incurred in investigating, preparing or defending against any Proceeding, whether arising out of any action between such Underwriter and the Company or between such Underwriter and any third party or otherwise) to which they or any of them may become subject under the Securities Act, the Exchange Act or any other statute or at common law or otherwise or under the laws of foreign countries, arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in (i) any Preliminary Prospectus, if any, the Registration Statement, the Prospectus (as from time to time each may be amended and supplemented) or any Issuer Free Writing Prospectus; (ii) any materials or information provided to investors by, or with the approval of, the Company in connection with the marketing of the offering of the Public Shares, including any "road show" as defined in Rule 433(h) under the Securities Act (a "road show") or any Testing-the-Waters Communication; or (iii) any application or other document or written communication (in this Article VI, collectively called "<u>Application</u>") executed by the Company or based upon written information furnished by the Company in any jurisdiction in order to qualify the Public Shares under the securities laws thereof or filed with the Commission, any state securities commission or agency, Trading Market or any securities exchange; or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, unless such statement or omission was made in reliance upon and in conformity with the Underwriters' Information. With respect to any untrue statement or omission or alleged untrue statement or omission made in the Preliminary Prospectus, if any, the indemnity agreement contained in this Section 6.1 shall not inure to the benefit of an Underwriter to the extent that any loss, liability, claim, damage or expense (including but not limited to any and all legal or other expenses reasonably incurred in investigating, preparing or defending against any Proceeding) of such Underwriter results from the fact that a copy of the Prospectus was not given or sent to the Person asserting any such loss, liability, claim, damage or expense at or prior to the written confirmation of sale of the Public Shares to such Person as required by the Securities Act and the rules and regulations thereunder, and if the untrue statement or omission has been corrected in the Prospectus, unless such failure to deliver the Prospectus was a result of non-compliance by the Company with its obligations under this Agreement. The Company agrees promptly to notify each Underwriter of the commencement of any Proceeding against the Company or any of its officers, directors or Controlling Persons in connection with the issue and sale of the Public Shares or in connection with the Registration Statement or any Issuer Free Writing Prospectus, road show, or the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2<u>Procedure</u>. If any action is brought against an Underwriter, a Selected Dealer or a Controlling Person in respect of which indemnity may be sought against the Company pursuant to Section 6.1, such Underwriter, such Selected Dealer or Controlling Person, as the case may be, shall promptly notify the Company in writing of the institution of such action and the Company shall assume the defense of such action, including the employment and fees of counsel (subject to the reasonable approval of such Underwriter or such Selected Dealer, as the case may be) and payment of actual expenses. Such Underwriter, such Selected Dealer or Controlling Person shall have the right to employ its or their own counsel in any such case, but the fees and expenses of such counsel shall be at the expense of such Underwriter, such Selected Dealer or Controlling Person unless (i) the employment of such counsel at the expense of the Company shall have been

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authorized in writing by the Company in connection with the defense of such action, or (ii) the Company shall not have employed counsel to have charge of the defense of such action, or (iii) such indemnified party or parties shall have reasonably concluded that there may be defenses available to it or them which are different from or additional to those available to the Company (in which case the Company shall not have the right to direct the defense of such action on behalf of the indemnified party or parties), in any of which events the reasonable fees and expenses of not more than one additional firm of attorneys selected by such Underwriter (in addition to local counsel), Selected Dealer and/or Controlling Person shall be borne by the Company. Notwithstanding anything to the contrary contained herein, if any Underwriter, Selected Dealer or Controlling Person shall assume the defense of such action as provided above, the Company shall have the right to approve the terms of any settlement of such action which approval shall not be unreasonably withheld.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3<u>Indemnification of the Company</u>. Each Underwriter severally and not jointly agrees to indemnify and hold harmless the Company, its directors, officers and employees and agents who control the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act against any and all loss, liability, claim, damage and expense (including but not limited to any and all legal or other expenses reasonably incurred in investigating, preparing or defending against any Proceeding, commenced or threatened in writing, or any claim whatsoever, whether caused by any action between such Underwriter and the Company or between the Company and any third party or otherwise) described in the foregoing indemnity from the Company to such Underwriter, as incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions made in any Preliminary Prospectus, if any, the Registration Statement any Issuer Free Writing Prospectus, road show, or the Prospectus or any amendment or supplement thereto or in any application, but only with reference to the Underwriters' Information. In case any action shall be brought against the Company or any other Person so indemnified based on any Preliminary Prospectus, if any, the Registration Statement, any Issuer Free Writing Prospectus, road show or Prospectus or any amendment or supplement thereto or any application, and in respect of which indemnity may be sought against such Underwriter, such Underwriter shall have the rights and duties given to the Company, and the Company and each other Person so indemnified shall have the rights and duties given to such Underwriter by the provisions of this Article VI. Notwithstanding the provisions of this Section 6.3, no Underwriter shall be required to indemnify the Company for any amount in excess of the underwriting discounts and commissions applicable to the Public Shares purchased by such Underwriter. The Underwriters' obligations in this Section 6.3 to indemnify the Company are several in proportion to their respective underwriting obligations and not joint.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4<u>Contribution</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Contribution Rights</u>. In order to provide for just and equitable contribution under the Securities Act in any case in which (i) any Person entitled to indemnification under this Article VI makes a claim for indemnification pursuant hereto but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Article VI provides for indemnification in such case, or (ii) contribution under the Securities Act, the Exchange Act or otherwise may be required on the part of any such Person in

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circumstances for which indemnification is provided under this Article VI, then, and in each such case, the Company and each Underwriter, severally and not jointly, shall contribute to the aggregate losses, liabilities, claims, damages and expenses of the nature contemplated by said indemnity agreement incurred by the Company and such Underwriter, as incurred, in such proportions that such Underwriter is responsible for that portion represented by the percentage that the underwriting discounts and commissions appearing on the cover page of the Prospectus bears to the initial offering price appearing thereon and the Company is responsible for the balance; provided, that, no Person guilty of a fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. For purposes of this Section 6.4, each director, officer and employee of such Underwriter or the Company, as applicable, and each Person, if any, who controls such Underwriter or the Company, as applicable, within the meaning of Section 15 of the Securities Act shall have the same rights to contribution as such Underwriter or the Company, as applicable. Notwithstanding the provisions of this Section 6.4, no Underwriter shall be required to contribute any amount in excess of the underwriting discounts and commissions applicable to the Public Shares purchased by such Underwriter. The Underwriters' obligations in this Section 6.4 to contribute are several in proportion to their respective underwriting obligations and not joint.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Contribution Procedure</u>. Within fifteen (15) days after receipt by any party to this Agreement (or its representative) of notice of the commencement of any action, suit or proceeding, such party will, if a claim for contribution in respect thereof is to be made against another party ("<u>Contributing Party</u>"), notify the Contributing Party in writing of the commencement thereof, but the failure to so notify the Contributing Party will not relieve it from any liability which it may have to any other party other than for contribution hereunder. In case any such action, suit or proceeding is brought against any party, and such party notifies a Contributing Party or its representative of the commencement thereof within the aforesaid fifteen (15) days, the contributing party will be entitled to participate therein with the notifying party and any other contributing party similarly notified. Any such Contributing Party shall not be liable to any party seeking contribution on account of any settlement of any claim, action or proceeding affected by such party seeking contribution without the written consent of such Contributing Party. The contribution provisions contained in this Section 6.4 are intended to supersede, to the extent permitted by law, any right to contribution under the Securities Act, the Exchange Act or otherwise available.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5<u>Directed Share Program Indemnification</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)In connection with the offer and sale of the Directed Shares pursuant to the Directed Share Program, the Company agrees to indemnify and hold harmless Fidelity, its affiliates (within the meaning of Rule 405 under the Securities Act) and selling agents and each person, if any, who controls Fidelity within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (the "<u>Fidelity Entities</u>") from and against any and all loss, liability, claim, damage and expense whatsoever (including but not limited to any and all legal or other expenses reasonably incurred in investigating, preparing or defending against any Proceeding) that (i) arise out of, or are based upon, the violation of

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any applicable laws or regulations of foreign jurisdictions where Directed Shares have been offered, (ii) arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in any material prepared by or with the consent of the Company for distribution to Invitees in connection with the Directed Share Program or arise out of, or are based upon, omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, (iii) arise out of, or are based upon, the failure of any Participant to pay for and accept delivery of Directed Shares which such Participant had orally confirmed for purchase by 11:59 PM (New York City time) on the Execution Date, or (iv) are related to, arise out of, or in connection with, the Directed Share Program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)The obligations of the Company under this Section 6.5 shall be in addition to any liability which the Company may otherwise have and shall extend, upon the same terms and conditions, to each employee, officer and director of the Directed Share Underwriter and each person, if any, who controls the Directed Share Underwriter within the meaning of the Securities Act and each broker-dealer or other affiliate of the Directed Share Underwriter.

**ARTICLE VII.** 

**MISCELLANEOUS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1<u>Termination</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Termination Right</u>. The Representative shall have the right to terminate this Agreement by notice in writing at any time after the execution and delivery of this Agreement and prior to any Closing Date, (i) if any domestic or international event or act or occurrence has materially disrupted, or in its opinion will in the immediate future materially disrupt, general securities markets in the United States; or (ii) if trading on any Trading Market (which, for the avoidance of doubt, shall not include secondary markets for privately held companies) shall have been suspended or materially limited, or minimum or maximum prices for trading shall have been fixed, or maximum ranges for prices for securities shall have been required by FINRA or by order of the Commission or any other government authority having jurisdiction, or (iii) if trading of any securities of the Company shall have been suspended on any Trading Market, or (iv) if the United States shall have become involved in a new war or an increase in major hostilities which, in the Representative's reasonable judgment, would make it impracticable to proceed with the offering, sale and/or delivery of the Public Shares or to enforce contracts made by the Underwriters for the sale of the Public Shares, or (v) if a banking moratorium has been declared by a New York State or federal authority, or (vi) if a moratorium on foreign exchange trading has been declared which materially adversely impacts the United States securities markets, or (vii) if the Company shall have sustained a material loss by fire, flood, accident, hurricane, earthquake, theft, sabotage or other calamity or malicious act which, whether or not such loss shall have been insured, will, in the Representative's opinion, make it inadvisable to proceed with the delivery of the Public Shares, (viii) if the Company is in material breach of any of its representations, warranties or covenants hereunder, or (ix) the occurrence of an event that constitutes a Material Adverse Effect, or (x) if the Representative shall have become aware after the Execution Date of such a

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material adverse change in the conditions of the Company, or such adverse material change in general market conditions as in the Representative's reasonable judgment would make it impracticable to proceed with the offering, sale and/or delivery of the Public Shares or to enforce contracts made by the Underwriters for the sale of the Public Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Expenses</u>. In the event this Agreement shall be terminated because of any failure or refusal on the part of the Company to comply with the terms or to fulfill the conditions of this Agreement, or if for any reason the Company shall be unable to perform its obligations under this Agreement as a result of the circumstances described in Section 7.1(a)(iii), within the time specified herein or any extensions thereof pursuant to the terms herein, the Company shall be obligated to pay to the Representative its actual and accountable out of pocket expenses related to the transactions set forth in Section 4.7 hereto as if the Offering had been consummated; <u>provided</u> <u>however</u>, that any expense cap set forth in Section 4.6 hereto in no way limits or impairs the indemnification and contribution provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Indemnification</u>. Notwithstanding any contrary provision contained in this Agreement, any election hereunder or any termination of this Agreement, and whether or not this Agreement is otherwise carried out, the provisions of Article VI shall not be in any way effected by such election or termination or failure to carry out the terms of this Agreement or any part hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2<u>Entire Agreement</u>. This Agreement, together with the exhibits and schedules thereto and the Prospectus, contain the entire understanding of the parties with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3<u>Notices</u>. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication is delivered via e-mail attachment at the email address set forth on the signature pages attached hereto at or prior to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication is delivered via e-mail attachment at the e-mail address as set forth on the signature pages attached hereto on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (c) the second (2<sup>nd</sup>) Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as set forth on the signature pages attached hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4<u>Amendments; Waivers</u>. No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed, in the case of an amendment, by the Company and the parties hereto. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5<u>Headings</u>. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6<u>Successors and Assigns</u>. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns. No purchaser of any of the Public Shares from any Underwriter shall be deemed a successor or assign by reason merely of such purchase.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7<u>Governing Law</u>. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement (whether brought against a party hereto or its respective affiliates, directors, officers, stockholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of this Agreement), and hereby irrevocably waives, and agrees not to assert in any action, suit or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. If either party shall commence an action or proceeding to enforce any provisions of the Agreement, then, in addition to the obligations of the Company under Article VI, the prevailing party in such action, suit or proceeding shall be reimbursed by the other party for its reasonable attorneys' fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.8<u>Survival</u>. The representations and warranties contained herein shall survive the Closing and the Option Closing, if any, and the delivery of the Public Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.9<u>Execution</u>. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to each other party, it being understood that the parties need not sign the same counterpart. In the event that any signature is delivered by e-mail delivery of a ".pdf" format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such ".pdf" signature page were an original thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.10<u>Severability</u>. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and

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effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.11<u>Saturdays, Sundays, Holidays, etc</u>. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.12<u>Construction</u>. The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise this Agreement and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement or any amendments thereto. In addition, each and every reference to share prices and shares of Common Stock in this Agreement shall be subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar adjustments and transactions of the Common Stock that occur after the date of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13**<u>WAIVER OF JURY TRIAL</u>. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVE FOREVER ANY RIGHT TO TRIAL BY JURY.** 

## *(Signature Pages Follow)* 

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## If the foregoing correctly sets forth the understanding between the Underwriters and the Company, please so indicate in the space provided below for that purpose, whereupon this letter shall constitute a binding agreement among the Company and the several Underwriters in accordance with its terms.
Very truly yours,

**GLOO HOLDINGS, INC.** 

By:<u>_________________________________________</u>

Name: <br>Title:

Address for Notice:

831 Pearl Street

Boulder, CO 80302

Attention: Jeffrey Bojar, General Counsel and Secretary

Telephone: (303) 381-2645

Email: jbojar@gloo.us

Copy to:

Wilson Sonsini Goodrich & Rosati P.C.<br>1155 Canyon Boulevard, Suite 400<br>Boulder, CO 80302

Attention: Matthew P. Dubofsky, Esq.

Victor T. Nilsson, Esq.

Telephone: (303) 256-5913

Email: mdubofsky@wsgr.com

vnilsson@wsgr.com

Accepted on the date first above written.

**ROTH CAPITAL PARTNERS, LLC**

For itself and as the Representative of the several

Underwriters listed on <u>Schedule I</u>

By: Roth Capital Partners, LLC

By: <u>_________________________________</u>

Name: Aaron M. Gurewitz

Title: Co-Chief Executive Officer and Head of Investment Banking

<br>Address for Notice:

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888 San Clemente Drive

Newport Beach, CA 92660

Telephone: 949-720-5700

Email: rothecm@roth.com

Copy to:

Reed Smith LLP<br>1221 McKinney St # 2100<br>Houston, Texas 77010<br>Attention: Constantine Karides, Esq.,<br> Anne G. Peetz, Esq.<br>Telephone: (713) 469-3853<br>Email: ckarides@reedsmith.com,<br> apeetz@reedsmith.com<br>

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## <u>SCHEDULE I</u> 
Schedule of Underwriters

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;<u>Underwriters</u> | &nbsp;&nbsp;<u>Closing Shares</u> | &nbsp;&nbsp;<u>Closing Purchase Price</u> |
| &nbsp;&nbsp;Roth Capital Partners, LLC |  |  |
| &nbsp;&nbsp;The Benchmark Company, LLC |  |  |
| &nbsp;&nbsp;Craig Hallum Capital Group LLC |  |  |
| &nbsp;&nbsp;Loop Capital Markets LLC |  |  |
| &nbsp;&nbsp;Lake Street Capital Markets, LLC |  |  |
| &nbsp;&nbsp;Texas Capital Securities Inc. |  |  |
| &nbsp;&nbsp;Total |  |  |

---

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**<u>SCHEDULE II-A</u>**

<br> Pricing Information

Number of Closing Shares: [●]

Number of Option Shares: [●]

Public Offering Price per Closing Share and Option Share: [●]

Underwriting Discount per Share: $[●] for Closing Shares and Option Shares

**<u>SCHEDULE II-B</u>**

Issuer General Use Free Writing Prospectuses

[●]

**<u>SCHEDULE II-C</u>**

Testing-the-Waters Communications

Testing-the-Water Communications, [●]

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**<u>SCHEDULE III</u>**

<br> Lock-Up Parties

Scott Beck

Patrick Gelsinger

Paul Seamon

Matthew Gotschall

Bishop Claude Richard Alexander, Jr.

John (Jack) Furst

Derek Green

Elizabeth Grennan

Robert Gruenewald

Nona Jones

Pearl Street Trust

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**<u>EXHIBIT A</u>**

Form of Lock-Up Agreement

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**<u>LOCK-UP AGREEMENT</u>**

______________, 2025

Roth Capital Partners, LLC<br> As the Representative of the several underwriters, if any,

named in <u>Schedule I</u> to the Underwriting Agreement <br>referred to below

c/o Roth Capital Partners, LLC

888 San Clemente Drive

Newport Beach, CA 92660

Re: Gloo Holdings, Inc. (the "**Company**")

Ladies and Gentlemen:

The undersigned is (or the time of the closing of the Offering (as defined below) expects to be) an owner of record or beneficially of certain shares of the Company's shares of Class A common stock, par value $0.001 per share (the "**Class A Common Stock**"), Class B common stock, par value $0.001 per share ("**Class B Common Stock**" and, together with the Class A Common Stock, the "**Common Stock**"), or securities convertible into, exchangeable for or exercisable for Common Stock (the "**Securities**"). The Company proposes to enter into an underwriting agreement (the "**Underwriting Agreement**") with you as the representative (the "**Representative**") of the underwriters (the "**Underwriters**") with respect to a public offering of the Class A Common Stock (the "**Offering**"). The undersigned acknowledges that the Offering will be of benefit to the undersigned. The undersigned also acknowledges that you and each other Underwriter will rely on the representations and agreements of the undersigned contained in this letter agreement (the "**Lock-Up Agreement**") in connection with entering into the Underwriting Agreement and performing their obligations thereunder.

In consideration of the foregoing and as an inducement to you as underwriter, the undersigned hereby agrees that the undersigned will not, without your prior written consent (which consent may be withheld in your sole discretion), directly or indirectly, sell, offer to sell, contract to sell, or grant any option for the sale (including without limitation any short sale), grant any security interest in, pledge, hypothecate, hedge, establish an open "put equivalent position" within the meaning of Rule 16a-1(h) under the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder (collectively, the "**Exchange Act**") or otherwise dispose of or enter into any transaction which is designed to, or could reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition due to cash settlement or otherwise by the Company or any affiliate of the Company or any person in privity with the Company or any affiliate of the Company) (collectively, a "**Disposition**") of any Securities currently or hereafter owned either of record or beneficially (as defined in Rule 13d-3 under the Exchange Act) by the undersigned, or publicly announce the undersigned's intention to do any of the foregoing, for a period commencing on the date hereof and continuing through the close of trading on the date that is 180 days following the date of the final prospectus (the "**Prospectus**") for the Offering (the "**Lock-Up Period**").

Notwithstanding the foregoing, and subject to the conditions herein, the restrictions in the second paragraph of this Lock-Up Agreement shall not apply to:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)transfers of shares of Class A Common Stock acquired in the Offering or in open market transactions after the completion of the Offering; *provided* that no filing under Section 16(a) of the Exchange Act shall be required or voluntarily made during the Lock-Up Period in connection with subsequent sales of Class A Common Stock acquired in the Offering or in such open market transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)transfers as a bona fide gift or charitable contribution (including any pledge or similar commitment to donate the undersigned's Securities and/or proceeds from the sale of the undersigned's Securities to be applied in their entirety as a gift or charitable contribution);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)transfers to any immediate family member or to any trust for the direct or indirect benefit of the undersigned and/or any immediate family of the undersigned (for purposes of this Lock-Up Agreement, "**immediate family**" shall mean any relationship by blood, marriage, domestic partnership or adoption, not more remote than first cousin);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)transfers to any corporation, partnership, limited liability company or other business entity all of the equity holders of which consist of the undersigned and/or the immediate family of the undersigned;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)if the undersigned is a corporation, partnership, limited liability company, trust or other business entity, distributions, transfers or dispositions (a) to another corporation, partnership, limited liability company, trust or other business entity that is an affiliate of the undersigned (as defined in Rule 405 promulgated under the Securities Act of 1933, as amended), or (b) in the form of a distribution, transfer or disposition to limited partners, limited liability company members, stockholders, affiliates, subsidiaries, beneficiaries or holders of equity interests of the undersigned;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)if the undersigned is a trust, transfers to the trustor or beneficiary of such trust or to the estate of any beneficiary of such trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)transfers for bona fide estate planning purposes, upon death or by will, other testamentary document or intestate succession to the legal representative, heir, beneficiary or a member of the immediate family of the undersigned;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)transfers of Securities to the Company for the purpose of exercising or settling (including any transfer for the payment of tax withholdings or remittance payments, including estimated taxes, due as a result of such vesting, settlement or exercise of such options, restricted stock units or other rights) on a "net exercise" or "cashless" basis options, restricted stock units or other rights to purchase shares of Common Stock, pursuant to equity awards granted under an equity incentive plan or other equity award arrangement described in the Prospectus (collectively, the "**Plans**"), or warrants described in the Prospectus, in each case, to the extent permitted by the instruments representing such equity awards or warrants, and only in an amount necessary to cover the applicable exercise price or tax withholding obligations, including estimated taxes, of the undersigned in connection with the vesting, settlement or exercise so long as the "net exercise" or "cashless exercise" is effected solely by the surrender of outstanding equity awards or warrants (or the Common Stock issuable upon the exercise thereof) to the Company and the Company's cancellation of all or a portion thereof to pay the exercise price and/or withholding tax and remittance obligations; *provided* that any shares of Common Stock received as a result of such exercise, vesting or settlement shall remain subject to the terms of this Lock-Up Agreement;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)transfers to a nominee or custodian to whom a disposition or transfer would be permissible under clauses (ii) through (vii);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)transfers by operation of law pursuant to a qualified domestic order or other court order or in connection with a divorce decree, divorce settlement, separation agreement or other court order or order of a regulatory agency;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)transfers, sales, tenders or other dispositions of shares of Common Stock or Securities pursuant to a bona fide third party tender offer, merger, amalgamation, consolidation or other similar transaction that is approved by the Board of Directors of the Company and made to all holders of the Company's capital stock or involving a Change of Control (as defined below); *provided* that if such tender offer, merger, amalgamation, consolidation or other similar transaction is not completed, any shares of Common Stock or Securities subject to this Lock-Up Agreement shall remain subject to the restrictions contained herein (for purposes of this clause (xii), "**Change of Control**" shall mean the transfer (whether by tender offer, merger, consolidation or other similar transaction), in one transaction or a series of related transactions, to a person or group of affiliated persons (other than the Underwriters pursuant to the Offering), of Securities if, after such transfer, the stockholders of the Company immediately prior to such transfer do not own at least a majority of the outstanding voting securities of the Company (or the surviving entity, as applicable));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii)the establishment or modification of a trading plan pursuant to Rule 10b5-1 under the Exchange Act for the transfer of Securities (a "**10b5-1 Plan**"); *provided* that (a) such 10b5-1 Plan does not provide for the transfer of Securities during the Lock-Up Period (except as otherwise allowed pursuant to this Lock-Up Agreement) and (b) to the extent a public announcement or filing under the Exchange Act, if any, is required of or voluntarily made by or on behalf of the undersigned or the Company regarding the establishment or modification of such 10b5-1 Plan during the Lock-Up Period, such announcement or filing shall include a statement to the effect that no transfer of Securities may be made under such 10b5-1 Plan during the Lock-Up Period (except as otherwise allowed pursuant to this Lock-Up Agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii)transfers, conversions, reclassifications, redemptions or exchanges of the undersigned's Securities in connection with the Corporate Reorganization (as defined in the Prospectus) or the Offering and any other reclassification or conversion of Common Stock, *provided* that any such shares of Common Stock received upon such conversion or reclassification shall be subject to the terms of this Lock-Up Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv)transfers of Securities to the Company pursuant to arrangements under which the Company has the option or obligation to repurchase, reclassify, redeem, convert or exchange such Securities or a right of first refusal with respect to such Securities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv)transfers as permitted with the prior written consent of the Representative;

*provided* that (a) in the case of any transfer pursuant to clauses (ii)-(vii), and (ix)-(x) each donee, distributee, transferee or acquirer shall sign and deliver a lock-up agreement substantially in the form of this Lock-Up Agreement, (b) in the case of any transfer pursuant to clauses (ii)-(x) and (xiii)-(xiv), any filing under Section 16(a) of the Exchange Act, reporting a reduction in beneficial ownership of shares of Common Stock, shall clearly indicate in the footnotes thereto the nature of the transaction, and (c) in the case of any transfer or distribution pursuant to clauses (ii)-(vii) and (ix), such transfer or disposition shall not involve a disposition for value.

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For the avoidance of doubt, this Lock-Up Agreement shall not restrict the delivery of shares of Common Stock to the undersigned upon exercise of any options or settlement of any restricted stock units or other equity awards granted under any equity incentive plan of the Company; *provided* that any shares of Common Stock acquired in connection with any such exercise or settlement will be subject to the restrictions set forth in this Lock-Up Agreement.

Except for the allowable Dispositions described herein, the undersigned further agrees that, without the prior written consent of the Representative, he, she or it may not engage in any hedging or other transaction which is designed to or reasonably expected to lead to or result in a Disposition of Securities during the Lock-Up Period, even if such Securities would be disposed of by someone other than the undersigned. Such prohibited hedging or other transactions would include, without limitation, any short sale (whether or not against the box) or any purchase, sale or grant of any right (including, without limitation, any put or call option) with respect to any Securities or with respect to any security (other than a broad-based market basket or index) that includes, relates to or derives any significant part of its value from Securities.

The undersigned also agrees and consents to the entry of stop transfer instructions with the Company's transfer agent and registrar against the transfer of shares of Common Stock or Securities held by the undersigned except in compliance with the foregoing restrictions.

If the undersigned is an officer or director of the Company, (i) the Representative agrees that, at least three business days before the effective date of any release or waiver of the foregoing restrictions in connection with a transfer of shares of Common Stock, the Representative will notify the Company of the impending release or waiver, and (ii) the Company will agree or has agreed in the Underwriting Agreement to announce the impending release or waiver by press release through a major news service (or such other method that satisfies the requirements of FINRA Rule 5131(d)(2)) at least two business days before the effective date of the release or waiver. Any release or waiver granted by the Representative hereunder to any such officer or director shall only be effective two business days after the publication date of such press release. The provisions of this paragraph will not apply if (a) the release or waiver is effected solely to permit a transfer not for consideration or to an immediate family member as defined in FINRA Rule 5130(i)(5) and (b) the transferee has agreed in writing to be bound by the same terms described in this Lock-Up Agreement to the extent and for the duration that such terms remain in effect at the time of the transfer.

If the undersigned is an officer or director of the Company, the undersigned further agrees that the foregoing restrictions shall be equally applicable to any issuer-directed shares of Class A Common Stock the undersigned may purchase in the Offering.

This Lock-Up Agreement is irrevocable and will be binding on the undersigned and the respective successors, heirs, personal representatives, and assigns of the undersigned.

This Lock-Up Agreement will be deemed to have been made and delivered in the State of New York, and both the binding provisions of this Lock-Up Agreement and the transactions contemplated hereby will be governed as to validity, interpretation, construction, effect and in all other respects by the internal laws of the State of New York, without regard to the conflict of laws principles thereof. The undersigned: (i) agrees that any legal suit, action or proceeding arising out of or relating to this Lock-Up Agreement will be instituted exclusively in the courts located in the City of New York, State of New York, (ii) waives any objection which it may have or hereafter to the venue of any such suit, action or proceeding, and (iii) irrevocably consents to the exclusive jurisdiction of the state and federal courts located in the City of New York, State of New York, in any such suit, action or proceeding, waiving any, and agreeing not to assert any, basis for seeking transfer or removal of such action to any other court, whether federal or state, unless

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the New York court in which such action or proceeding was commenced first declines jurisdiction. The undersigned further agrees to accept and acknowledge service of any and all process which may be served in any such suit, action or proceeding in such courts and agrees that service of process upon the undersigned mailed by certified mail to the undersigned's address will be deemed in every respect effective service of process upon the undersigned.

The undersigned hereby represents and warrants that the undersigned has full power and authority to enter into this Lock-Up Agreement. All authority herein conferred or agreed to be conferred and any obligations of the undersigned shall be binding upon the successors, assigns, heirs or personal representatives of the undersigned.

Nothing in this Lock-Up Agreement shall constitute an obligation to purchase Common Stock or Securities of the Company. Whether or not the Offering actually occurs depends on a number of factors, including market conditions. Any Offering will only be made pursuant to the Underwriting Agreement, the terms of which are subject to negotiation among the parties thereto.

This Lock-Up Agreement shall automatically terminate, and the undersigned will be released from all of his, her or its obligations hereunder, upon the earliest to occur, if any, of (i) the date that the Company advises the Representative, in writing, prior to the execution of the Underwriting Agreement, that it has determined not to proceed with the Offering, (ii) the date that the Company files an application with the U.S. Securities and Exchange Commission to withdraw the registration statement related to the Offering before the execution of the Underwriting Agreement, (iii) if the Underwriting Agreement is executed but terminated (other than the provisions thereof that survive termination) prior to payment for and delivery of the shares of Class A Common Stock to be sold thereunder, the date that the Underwriting Agreement is terminated or (iv) January 31, 2026 if the Offering has not been completed by such date; *provided* that the Company may by written notice to the undersigned prior to January 31, 2026 extend such date for a period of up to an additional three months).

Whether or not the Offering actually occurs depends on a number of factors, including market conditions. Any Offering will only be made pursuant to an Underwriting Agreement, the terms of which are subject to negotiation between the Company and the Representative.

This Lock-Up Agreement may be delivered via facsimile, electronic mail (including any electronic signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, e.g., www.docusign.com) or other transmission method and any signature so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

*[Signature Page Follows]*

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Very truly yours,

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| | |
|:---|:---|
| &nbsp;&nbsp;**IF AN INDIVIDUAL:** | &nbsp;&nbsp;**IF AN ENTITY:** |
| &nbsp;&nbsp; <br>By: <u>_________________________________</u><br> *(duly authorized signature)* | &nbsp;&nbsp; <br><u>___________________________________</u> *(please print complete name of entity)* |
| &nbsp;&nbsp; <br>Name: <u>______________________________</u><br> *(please print full name)* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>By: <u>__________________________________</u><br> *(duly authorized signature)* |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>Name: <u>__________________________________</u><br> *(please print full name)*<br>Title: <u>_________________________________</u><br> *(please print full title)* |
| &nbsp;&nbsp;Address: <br><u>_______________________________________</u><br><u><br>_______________________________________</u> | &nbsp;&nbsp;Address: <br><u>_______________________________________</u><br><u><br>_______________________________________</u> |
| &nbsp;&nbsp; <br>E-mail:  | &nbsp;&nbsp;<br>E-mail:  |

---

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**<u>EXHIBIT B</u>**

Form of Press Release

[COMPANY]

[Date]

[COMPANY] (the "Company") announced today that Roth Capital Partners, LLC, acting as representative for the underwriters in the Company's recent public offering of _______ the Company's Class A common stock (the "Common Stock"), is [waiving] [releasing] a lock-up restriction with respect to _________ the Common Stock held by [certain officers or directors] [an officer or director] of the Company. The [waiver] [release] will take effect on _________, 20___, and the shares may be sold on or after such date.

This press release is not an offer or sale of the securities in the United States or in any other jurisdiction where such offer or sale is prohibited, and such securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act of 1933, as amended.

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## Exhibit 3.1

**Exhibit 3.1**

**AMENDED AND RESTATED CERTIFICATE OF INCORPORATION**

**OF**

**GLOO HOLDINGS, INC.**

Gloo Holdings, Inc., a corporation organized and existing under and by virtue of the provisions of the General Corporation Law of the State of Delaware (the "***Delaware General Corporation Law***"),

**DOES HEREBY CERTIFY**:

**FIRST**: That the name of this corporation is Gloo Holdings, Inc. (the "***Corporation***") and that the Corporation was originally incorporated pursuant to the Delaware General Corporation Law on May 9, 2025.

**SECOND**: That the Corporation's Board of Directors duly adopted resolutions proposing to amend and restate the Certificate of Incorporation of the Corporation (as heretofore amended, the "***Existing Certificate***"), declaring said amendment and restatement to be advisable and in the best interests of the Corporation and its stockholders, and authorizing the officers of the Corporation to solicit the consent of the stockholders therefor, which resolution setting forth the proposed amendment and restatement is as follows:

**RESOLVED**: That the Existing Certificate be amended and restated in its entirety as follows:

**ARTICLE I** 

The name of this corporation is Gloo Holdings, Inc.

**ARTICLE II** 

The address of the registered office of the Corporation in the State of Delaware is 1209 Orange Street, Wilmington, New Castle County, Delaware 19801. The name of its registered agent at such address is The Corporation Trust Company.

**ARTICLE III** 

The nature of the business or purposes to be conducted or promoted by the Corporation is to engage in any lawful act or activity for which corporations may be organized under the Delaware General Corporation Law.

**ARTICLE IV** 

The Corporation is authorized to issue two classes of stock to be designated, respectively, "***Common Stock***" and "***Preferred Stock***." The total number of shares of Common Stock authorized to be issued is 5,100,000,000 shares, par value $0.001 per share, of which (i) 5,000,000,000 shares are designated as a series of Common Stock denominated as Class A Common Stock (the "***Class A Common Stock***") and (ii) 100,000,000 shares are designated as a series of Common Stock denominated as Class B Common Stock (the "***Class B Common Stock***"). The total number of shares of Preferred Stock authorized to be issued is 100,000,000 shares, par value $0.001 per share.

Immediately upon the effectiveness of the filing of this Amended and Restated Certificate of Incorporation (as may be further amended and restated from time to time, this "***Amended and Restated*** 

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***Certificate***") with the Secretary of State of the State of Delaware (the "***Effective Time***"), each one (1) share of the Corporation's Common Stock, par value $0.001 per share, issued and outstanding or held as treasury stock immediately prior to the Effective Time shall, automatically and without further action by the Corporation or any stockholder, be reclassified and changed into one (1) share of Class B Common Stock. Any stock certificate that immediately prior to the Effective Time represented shares of the Corporation's Common Stock shall from and after the Effective Time be deemed to represent an equal number of shares of Class B Common Stock, without the need for surrender or exchange thereof.

**ARTICLE V** 

The rights, powers, preferences, restrictions and other matters relating to the Common Stock are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Definitions</u>. For purposes of this Amended and Restated Certificate, the following definitions apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1"***Acquisition***" means (i) any consolidation or merger of the Corporation with or into any other corporation or other entity or person, or any other corporate reorganization (including, without limitation, any statutory conversion, transfer, domestication or continuance), other than any such consolidation, merger or reorganization in which the shares of capital stock of the Corporation immediately prior to such consolidation, merger or reorganization continue to represent a majority of the voting power of the surviving entity (or, if the surviving entity is a wholly owned subsidiary, its Parent) immediately after such consolidation, merger or reorganization (provided that, for the purpose of this <u>Section V.1.1</u>, all stock, options, warrants, purchase rights or other securities exercisable for or convertible into Common Stock outstanding immediately prior to such consolidation, merger or reorganization shall be deemed to be outstanding immediately prior to such consolidation, merger or reorganization and, if applicable, converted or exchanged in such consolidation, merger or reorganization on the same terms as the actual outstanding shares of capital stock are converted or exchanged); or (ii) any transaction or series of related transactions to which the Corporation is a party in which shares of the Corporation are transferred such that in excess of fifty percent (50%) of the Corporation's voting power is transferred; *provided* that an Acquisition shall not include any transaction or series of transactions principally for bona fide equity financing purposes in which cash is received by the Corporation or any successor of the Corporation or indebtedness of the Corporation is cancelled or converted, or a combination thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2"***Asset Transfer***" means a sale, lease, exclusive license, exchange or other disposition of all or substantially all of the assets of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3"***Board***" means the Board of Directors of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4"***Class B Stockholder***" means (i) the registered holder of a share of Class B Common Stock as of 11:59 p.m., Eastern Time, on the Effective Date; (ii) the initial registered holder of any shares of Class B Common Stock that are originally issued by the Corporation after 11:59 p.m., Eastern Time, on the Effective Date pursuant to the exercise or conversion of options or warrants that, in each case, are outstanding as of the Effective Date; and (iii) a Permitted Transferee of a holder of a share of Class B Common Stock that falls within clause (i) or (ii).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5"***Code***" means the Internal Revenue Code of 1986, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6"***Effective Date***" means the closing date of the initial sale of shares of Class A Common Stock in the Corporation's initial public offering pursuant to an effective registration statement filed under the Securities Act of 1933, as amended.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7"***Family Member***" means, with respect to a Class B Stockholder, the spouse, domestic partner, parents, grandparents, lineal descendants, siblings and lineal descendants of siblings (including adopted persons) of such Class B Stockholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8"***Liquidation Event***" means any liquidation, dissolution or winding up of the Corporation, whether voluntary or involuntary, or any Acquisition or Asset Transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9"***Parent***" of an entity means any entity that directly or indirectly owns or controls a majority of the voting power of the voting securities of such entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10"***Permitted Entity***" means, with respect to a Class B Stockholder,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)any trust or estate planning vehicle for the benefit of such Class B Stockholder, one or more Family Members of such Class B Stockholder or any other Permitted Entity of such Class B Stockholder (or any combination thereof) (and, to the extent any shares are deemed to be held by the trustee of such trust in the trustee's capacity as such, such trustee shall also be deemed a Permitted Entity); *provided*, that in the event such trust or estate planning vehicle, at any time, no longer qualifies as a Permitted Entity pursuant to this Section 1.10, each share of Class B Common Stock held by or on behalf of such trust or estate planning vehicle shall automatically convert into one (1) fully paid and nonassessable share of Class A Common Stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)any trust or estate planning vehicle for the benefit of any other person not listed in clause (i), for bona fide estate planning purposes of such Class B Stockholder (and to the extent any shares are deemed to be held by the trustee of such trust in the trustee's capacity as such, such trustee shall also be deemed a Permitted Entity); *provided*, that in the event such trust or estate planning vehicle, at any time, no longer qualifies as a Permitted Entity pursuant to this Section 1.10, each share of Class B Common Stock held by or on behalf of such trust or estate planning vehicle shall automatically convert into one (1) fully paid and nonassessable share of Class A Common Stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)any general partnership, limited liability company, corporation or other entity that is controlled by such Class B Stockholder, one or more Family Members of such Class B Stockholder or any other Permitted Entity of such Class B Stockholder (or any combination thereof) (whether through ownership of equity interests, by contract, by proxy, voting agreement or otherwise); *provided*, that in the event such general partnership, limited liability company, corporation or other entity, at any time, no longer qualifies as a Permitted Entity pursuant to this Section 1.10, each share of Class B Common Stock held by or on behalf of such general partnership, limited liability company, corporation or other entity shall automatically convert into one (1) fully paid and nonassessable share of Class A Common Stock; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)any Individual Retirement Account, as defined in Section 408(a) of the Code (or any successor provision thereto), or a pension, profit sharing, stock bonus or other type of plan or trust of which such Class B Stockholder is a participant or beneficiary and which satisfies the requirements for qualification under Section 401 of the Code; *provided*, that in the event such account, plan or trust, at any time, no longer qualifies as a Permitted Entity pursuant to this Section 1.10, each share of Class B Common Stock held by or on behalf of such account, plan or trust shall

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automatically convert into one (1) fully paid and nonassessable share of Class A Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11"***Permitted Transfer***" means

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)any Transfer of a share of Class B Common Stock from a Class B Stockholder, from a Class B Stockholder's Permitted Entity, from a Class B Stockholder's Family Member, or from the estate of a Class B Stockholder or a Family Member of a Class B Stockholder, to such Class B Stockholder, to any Family Member of such Class B Stockholder, to the estate of such Class B Stockholder or a Family Member of such Class B Stockholder, to any other Permitted Entity of such Class B Stockholder, or, if the Class B Stockholder making the Transfer is an entity, to any natural person who holds Voting Control over the share of Class B Common Stock being Transferred as of the later of (1) 11:59 p.m., Eastern Time, on the Effective Date or (2) such time as the Corporation first issues Class B Common Stock to such entity or, if such natural person is a Class B Stockholder, to any Permitted Entity or Family Member of such natural person; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)any Transfer of a share of Class B Common Stock from a Class B Stockholder to such Class B Stockholder's affiliate with the prior written approval of the Board (or a duly authorized committee thereof) to constitute a Permitted Transfer; *provided* that, if the transferee of any share of Class B Common Stock is not a Class B Stockholder, then, unless otherwise approved by the Board or such committee, such Transfer shall qualify as a Permitted Transfer only if the Class B Stockholder making the Transfer shall have exclusive Voting Control with respect to such share of Class B Common Stock following such Transfer (whether by proxy, voting agreement or otherwise, it being understood that such proxy or voting agreement may be executed promptly following, and in no event later than ten (10) days after, such Transfer).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.12"***Permitted Transferee***" means a transferee of shares of Class B Common Stock, or rights or interests therein, received in a Transfer that constitutes a Permitted Transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13"***Transfer***" of a share of Class B Common Stock means any sale, assignment, transfer, conveyance, hypothecation or other transfer or disposition of such share or any legal or beneficial interest in such share, whether or not for value and whether voluntary or involuntary or by operation of law (including by merger, consolidation, division or otherwise), or the transfer of, or entering into a binding agreement with respect to the transfer of, Voting Control over such share by proxy, voting agreement or otherwise, in each case after 11:59 p.m., Eastern Time, on the Effective Date; *provided* that none of the following (either alone or in combination) will be considered a "Transfer":

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)any grant of a proxy to, or entry into a voting agreement or similar agreement or arrangement with, the Corporation or any of its officers or directors at the request of the Board in connection with (a) actions to be taken at an annual or special meeting of stockholders, or (b) any other action of the stockholders permitted by this Amended and Restated Certificate, or the exercise of Voting Control pursuant to such proxy or voting agreement or similar agreement or arrangement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)any pledge of shares of Class B Common Stock by a Class B Stockholder that creates a mere security interest in such shares pursuant to a *bona fide* loan or other indebtedness transaction for so long as such Class B Stockholder continues to

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exercise exclusive Voting Control over such pledged shares or holds a proxy to exercise exclusive Voting Control over such pledged shares; *provided, however*, that a foreclosure on such shares or other similar action by the pledgee will constitute a "Transfer" unless such foreclosure or similar action qualifies as a "Permitted Transfer" at such time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)any entry into a trading plan pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, with a broker or other nominee; *provided, however*, that a sale of such shares of Class B Common Stock pursuant to such plan shall constitute a "Transfer" at the time of such sale;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)any entry by a Class B Stockholder into a support, voting, tender or similar agreement, arrangement or understanding (with or without granting a proxy) approved by the Board in connection with a Liquidation Event or other proposal or consummating the actions or transactions contemplated therein (including, without limitation, tendering shares of Class B Common Stock or voting such shares in connection with a Liquidation Event or such other proposal, the consummation of a Liquidation Event or such other proposal or the sale, assignment, transfer, conveyance, hypothecation or other transfer or disposition of shares of Class B Common Stock or any legal or beneficial interest in shares of Class B Common Stock in connection with a Liquidation Event or such other proposal); *provided* that any sale, tender, assignment, transfer, conveyance, hypothecation or other transfer or disposition of Class B Common Stock or any legal or economic interest therein by a Class B Stockholder pursuant to a Liquidation Event or such other proposal, or any grant of a proxy over Class B Common Stock by a Class B Stockholder with respect to a Liquidation Event without specific instructions as to how to vote such Class B Common Stock, in each case, will constitute a "Transfer" of such Class B Common Stock unless such Liquidation Event was approved by the Board prior to the taking of such action;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)the fact that, as of the Effective Date or at any time after the Effective Date, the spouse of a holder possesses or obtains an interest in such holder's shares of Class B Common Stock arising solely by reason of the application of the community property laws of any jurisdiction; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)any transfer of a share of Class B Common Stock by a Class B Stockholder to a charitable organization that is exempt from taxation under Section 501(c)(3) of the Code (or any successor provision thereto); *provided* that such transfer does not involve any payment of cash, securities, property or other consideration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.14"***Voting Control***" means, with respect to a share of capital stock or other security, the power (whether exclusive or shared) to vote or direct the voting of such security, including by proxy, voting agreement or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.15"***Whole Board***" means the total number of authorized directors whether or not there exist any vacancies or unfilled seats in previously authorized directorships.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Identical Rights</u>. Except as otherwise provided in this Amended and Restated Certificate or required by applicable law, shares of Common Stock shall have the same rights and powers, rank equally (including as to dividends and distributions, and any liquidation, dissolution or winding up of the

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Corporation but excluding voting and other matters as described in <u>Section V.3</u>), share ratably and be identical in all respects as to all matters, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1Subject to the prior rights of holders of all classes and series of stock at the time outstanding having prior rights as to dividends, the holders of the Common Stock shall be entitled to receive, when, as and if declared by the Board, out of any assets of the Corporation legally available therefor, such dividends as may be declared from time to time by the Board. Any dividends paid to the holders of shares of Common Stock shall be paid pro rata, on an equal priority, pari passu basis, unless different treatment of the shares of any such series is approved by the affirmative vote of the holders of a majority of the voting power of the outstanding shares of such applicable series of Common Stock treated adversely, voting separately as a series.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2The Corporation shall not declare or pay any dividend or make any other distribution to the holders of Common Stock payable in securities of the Corporation unless the same dividend or distribution with the same record date and payment date shall be declared and paid on all shares of Common Stock; *provided, however*, that (i) dividends or other distributions payable in shares of Class A Common Stock or rights to acquire shares of Class A Common Stock may be declared and paid to the holders of Class A Common Stock without the same dividend or distribution being declared and paid to the holders of the Class B Common Stock if, and only if, a dividend payable in shares of Class B Common Stock, or rights to acquire shares of Class B Common Stock are declared and paid to the holders of Class B Common Stock at the same rate and with the same record date and payment date; and (ii) dividends or other distributions payable in shares of Class B Common Stock or rights to acquire shares of Class B Common Stock may be declared and paid to the holders of Class B Common Stock without the same dividend or distribution being declared and paid to the holders of the Class A Common Stock if, and only if, a dividend payable in shares of Class A Common Stock or rights to acquire shares of Class A Common Stock are declared and paid to the holders of Class A Common Stock at the same rate and with the same record date and payment date; *provided, further*, that nothing in the foregoing shall prevent the Corporation from declaring and paying dividends or other distributions payable in shares of one series of Common Stock or rights to acquire one series of Common Stock to holders of all series of Common Stock, or, with the approval of holders of a majority of the outstanding shares of each of the Class A Common Stock and Class B Common Stock, each voting separately as a series, from providing for different treatment of the shares of Class A Common Stock and Class B Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3If the Corporation in any manner subdivides or combines the outstanding shares of Class A Common Stock or Class B Common Stock, then the outstanding shares of all Common Stock will be subdivided or combined in the same proportion and manner, unless different treatment of the shares of Class A Common Stock or Class B Common Stock is approved by the affirmative vote of the holders of a majority of the outstanding shares of each of the Class A Common Stock and Class B Common Stock, each voting separately as a series.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Voting Rights</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1<u>Common Stock</u>.

<u>Class A Common Stock</u>. Each holder of shares of Class A Common Stock will be entitled to one (1) vote for each share thereof held at the record date for the determination of the stockholders entitled to vote on such matters.

<u>Class B Common Stock</u>. Each holder of shares of Class B Common Stock will be entitled to ten (10) votes for each share thereof held at the record date for the determination of the stockholders entitled to vote on such matters.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2<u>General</u>. Except as otherwise expressly provided herein or as required by law, the holders of shares of Class A Common Stock and Class B Common Stock will vote together and not as separate series.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3<u>Authorized Shares</u>. The number of authorized shares of Common Stock (including, for the avoidance of doubt, any series thereof) may be increased or decreased (but not below (i) the number of shares of Common Stock or, in the case of a series of Common Stock, such series, then outstanding plus (ii) with respect to Class A Common Stock, the number of shares reserved for issuance pursuant to <u>Section V.8</u>) by the affirmative vote of the holders of a majority of the voting power of the Class A Common Stock and Class B Common Stock, voting together as a single class, irrespective of the provisions of Section 242(b)(2) of the Delaware General Corporation Law; *provided*, for the avoidance of doubt, that the foregoing shall not limit the application of Section 242(d)(2) of the Delaware General Corporation Law or any successor provision to the Corporation; and *provided further* that the number of authorized shares of Class B Common Stock shall not be increased or decreased without the affirmative vote of the holders of a majority of the outstanding shares of Class B Common Stock, voting as a separate series.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4<u>Election of Directors</u>. Subject to any rights of the holders of any series of Preferred Stock to elect directors under specified circumstances, the holders of Class A Common Stock and Class B Common Stock, voting together as a single class, shall be entitled to elect and remove all directors of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Liquidation Rights</u>. In the event of a Liquidation Event in connection with which the Board has determined to effect a distribution of assets of the Corporation to any holder or holders of Common Stock, then, subject to the rights of any Preferred Stock that may then be outstanding, the assets of the Corporation legally available for distribution to stockholders shall be distributed on an equal priority, pro rata basis to the holders of Common Stock, unless different treatment of the shares of each such series is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A Common Stock and Class B Common Stock, each voting separately as a series (it being understood that consideration to be paid or received by a holder of Common Stock in connection with any Liquidation Event pursuant to any employment, consulting, severance or similar services arrangement shall not be deemed to be a "distribution to stockholders" for the purpose of this <u>Section V.4</u>); *provided* that the affirmative vote of the holders of a majority of the outstanding shares of Class A Common Stock and Class B Common Stock, each voting separately as a series, shall not be required in the event of a Liquidation Event in connection with which the Board has determined to effect a distribution of securities to the holders of the Class A Common Stock and Class B Common Stock where the difference between the securities distributed to the holders of the Class A Common Stock and the securities distributed to the holders of the Class B Common Stock is substantially similar to the differences between the Class A Common Stock and the Class B Common Stock as set forth in this Amended and Restated Certificate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>Conversion of the Class B Common Stock</u>. Each share of Class B Common Stock will automatically be converted into one fully paid and nonassessable share of Class A Common Stock as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)on the date specified by its holder, following the affirmative written election of such holder to convert such share of Class B Common Stock into a share of Class A Common Stock (which date may be the occurrence of a future event specified in such written election and which election may be revoked by such holder prior to the date on which the automatic conversion would otherwise occur unless otherwise specified by such holder);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)on the date specified by the holders of two-thirds (2/3) of the outstanding shares of Class B Common Stock, voting as a separate series at a meeting of stockholders or by written consent; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)on the occurrence of a Transfer of such share of Class B Common Stock to any person or entity that is not a Permitted Transferee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.<u>Procedures</u>. The Corporation may, from time to time, establish such policies and procedures relating to the conversion of the Class B Common Stock to Class A Common Stock and the general administration of this stock structure, including the issuance of stock certificates with respect thereto, as it may deem necessary or advisable, and may from time to time request that holders of shares of Class B Common Stock furnish certifications, affidavits or other proof to the Corporation as it deems necessary to verify the ownership of Class B Common Stock and to confirm that a conversion to Class A Common Stock has not occurred. A determination by the Corporation as to whether or not a Transfer has occurred and results in a conversion to Class A Common Stock shall be conclusive and binding to the fullest extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.<u>Immediate Effect</u>. In the event of and upon a conversion of shares of Class B Common Stock to shares of Class A Common Stock pursuant to <u>Section V.5</u> such conversion shall be deemed to have been made at the time specified in <u>Section V.5</u>. Upon any conversion of Class B Common Stock to Class A Common Stock in accordance with this Amended and Restated Certificate, all rights of the holder of shares of Class B Common Stock shall cease and the person or persons in whose name or names the certificate or certificates representing the shares of Class A Common Stock are to be issued shall be treated for all purposes as having become the record holder or holders of such shares of Class A Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.<u>Reservation of Stock Issuable Upon Conversion</u>. The Corporation will at all times reserve and keep available out of its authorized but unissued shares of Class A Common Stock, solely for the purpose of effecting the conversion of the shares of the Class B Common Stock, such number of its shares of Class A Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding shares of Class B Common Stock; and if at any time the number of authorized but unissued shares of Class A Common Stock will not be sufficient to effect the conversion of all then-outstanding shares of Class B Common Stock, the Corporation will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Class A Common Stock to such number of shares as will be sufficient for such purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.<u>Preemptive Rights</u>. No stockholder of the Corporation shall have a right to purchase shares of capital stock of the Corporation sold or issued by the Corporation except to the extent that such a right may from time to time be set forth in a written agreement between the Corporation and a stockholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.<u>Class B Protective Provisions</u>. After 11:59 p.m., Eastern Time, on the Effective Date, the Corporation shall not, without the prior affirmative vote (either at a meeting or by written consent) of the holders of two-thirds (2/3) of the outstanding shares of Class B Common Stock, voting as a separate series, in addition to any other vote required by applicable law or this Amended and Restated Certificate:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)directly or indirectly, whether by amendment, or through merger, recapitalization, consolidation, statutory conversion, transfer, domestication, continuance or otherwise, amend or repeal, or adopt any provision of this Amended and Restated Certificate inconsistent with, or otherwise alter, any provision of this Amended and Restated Certificate relating to the voting, conversion or other rights, powers, preferences or restrictions of the Class B Common Stock;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)reclassify any outstanding shares of Class A Common Stock into shares having rights as to dividends or liquidation that are senior to the Class B Common Stock or the right to have more than one (1) vote for each share thereof, except as expressly provided herein or as required by law; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)authorize, or issue any shares of, any class or series of capital stock of the Corporation having the right to more than one (1) vote for each share thereof.

**ARTICLE VI** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Rights of Preferred Stock</u>. The Board is authorized, subject to any limitations prescribed by law, to provide for the issuance of shares of Preferred Stock in one or more series, and by filing a certificate pursuant to the applicable law of the State of Delaware (such certificate being hereinafter referred to as a "***Preferred Stock Designation***"), to establish from time to time the number of shares to be included in each such series, and to fix the designation, powers, preferences, and rights of the shares of each such series and any qualifications, limitations or restrictions thereof. The Board is further authorized to increase (but not above the total number of authorized shares of Preferred Stock) or decrease (but not below the number of shares of any such series of Preferred Stock then outstanding) the number of shares of any series of Preferred Stock, subject to the powers, preferences and rights, and the qualifications, limitations and restrictions thereof stated in this Amended and Restated Certificate or the resolution of the Board originally fixing the number of shares of such series of Preferred Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Vote to Amend Terms of Preferred Stock</u>. Except as otherwise required by law or provided in this Amended and Restated Certificate, holders of Common Stock shall not be entitled to vote on any amendment to this Amended and Restated Certificate (including any Preferred Stock Designation filed with respect to any series of Preferred Stock) that relates solely to the terms of one or more outstanding series of Preferred Stock if the holders of such affected series are entitled, either separately or together as a class with the holders of one or more other such series, to vote thereon by law or pursuant to this Amended and Restated Certificate (including any Preferred Stock Designation filed with respect to any series of Preferred Stock).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Vote to Increase or Decrease Authorized Shares</u>. The number of authorized shares of Preferred Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of a majority of the voting power of all of the outstanding shares of stock of the Corporation entitled to vote thereon, without a vote of the holders of the Preferred Stock, or of any series thereof, unless a vote of any such holders is required pursuant to the terms of any Preferred Stock Designation, irrespective of the provisions of Section 242(b)(2) of the Delaware General Corporation Law.

**ARTICLE VII** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Board Size</u>. Subject to the rights of the holders of any series of Preferred Stock to elect additional directors under specified circumstances, the number of directors that constitutes the Whole Board shall be fixed solely by resolution of the Board acting pursuant to a resolution adopted by a majority of the Whole Board. At each annual meeting of stockholders, directors of the Corporation whose terms are expiring at such meeting shall be elected to hold office until the expiration of the term for which they are elected and until their successors have been duly elected and qualified or until their earlier death, resignation

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or removal; *provided* that if any such election shall not be so held, such election shall take place at a stockholders' meeting called and held in accordance with the Delaware General Corporation Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Board Structure</u>. From and after the Effective Time, the directors, other than any who may be elected by the holders of any series of Preferred Stock under specified circumstances, shall be divided into three (3) classes as nearly equal in size as is practicable, hereby designated Class I, Class II and Class III. The Board may assign members of the Board already in office to such classes at the time such classification becomes effective. The term of office of the initial Class I directors shall expire at the first regularly scheduled annual meeting of the stockholders following the Effective Time, the term of office of the initial Class II directors shall expire at the second annual meeting of the stockholders following the Effective Time, and the term of office of the initial Class III directors shall expire at the third annual meeting of the stockholders following the Effective Time. At each annual meeting of stockholders, commencing with the first regularly scheduled annual meeting of stockholders following the Effective Time, each of the successors elected to replace the directors of a Class whose term shall have expired at such annual meeting shall be elected to hold office for a three (3)-year term and until the third annual meeting next succeeding his or her election and until his or her respective successor shall have been duly elected and qualified. Notwithstanding the foregoing provisions of this <u>Article VII</u>, each director shall serve until his or her successor is duly elected and qualified or until his or her death, resignation, or removal. If the number of directors is thereafter changed, any newly created directorships or decrease in directorships shall be so apportioned among the classes as to make all classes as nearly equal in number as is practicable. No decrease in the number of directors constituting the Board shall shorten the term of any incumbent director.

**ARTICLE VIII** 

The following provisions are inserted for the management of the business and the conduct of the affairs of the Corporation, and for further definition, limitation and regulation of the powers of the Corporation and of its directors and stockholders:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Board Power</u>. The business and affairs of the Corporation shall be managed by or under the direction of the Board. In addition to the powers and authority expressly conferred by statute or by this

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Amended and Restated Certificate or the Bylaws of the Corporation, the Board is hereby empowered to exercise all such powers and do all such acts and things as may be exercised or done by the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Written Ballot</u>. Elections of directors need not be by written ballot unless otherwise provided in the Bylaws of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Amendment of Bylaws</u>. In furtherance and not in limitation of the powers conferred by the Delaware General Corporation Law, the Board is expressly authorized to adopt, amend, alter or repeal the Bylaws of the Corporation. The Bylaws may also be adopted, amended, altered or repealed by the stockholders of the Corporation; *provided* that the affirmative vote of the holders of at least a majority of the total voting power of outstanding voting securities of the Corporation, voting together as a single class, shall be required for the stockholders of the Corporation to alter, amend or repeal, or adopt any provision of the Bylaws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Special Meetings</u>. Subject to the rights of the holders of any series of Preferred Stock, special meetings of the stockholders may be called only by (i) the Board acting pursuant to a resolution adopted by a majority of the Whole Board; (ii) the chairperson of the Board; (iii) the chief executive officer of the Corporation; (iv) the president of the Corporation; or (v) a Class B Stockholder that has Voting Control over at least a majority of the voting power of the outstanding shares of capital stock of the Corporation as reasonably determined by the Corporation, but a special meeting may not be called by any other person or persons and, except as provided in this <u>Section VIII.4</u>, any power of stockholders to call a special meeting of stockholders is specifically denied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>Availability of Stockholder Action by Written Consent</u>. Subject to the rights of the holders of any series of Preferred Stock, at any time that the Corporation reasonably determines that a Class B Stockholder has Voting Control over at least a majority of the voting power of the outstanding shares of capital stock of the Corporation, any action required or permitted to be taken by the stockholders of the Corporation (including any vote of a series or class of stock) may be taken, without a meeting and prior notice, by the written consent of stockholders having the minimum number of votes that would be necessary to take such action at a meeting at which all shares entitled to vote thereon were present and voted in accordance with Section 228 of the Delaware General Corporation Law only if the Board has first recommended or approved such action or the Board and the Secretary of the Corporation have been provided with at least thirty (30) days' prior written notice of such action. Subject to the rights of the holders of any series of Preferred Stock, at any time that the Corporation reasonably determines that no Class B Stockholder has Voting Control over at least a majority of the voting power of the outstanding shares of capital stock of the Corporation, any action required or permitted to be taken by the stockholders of the Corporation (including any vote of a series or class of stock) must be effected at a duly called annual or special meeting of stockholders of the Corporation and may not be effected by any consent in writing by such stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.<u>No Cumulative Voting</u>. No stockholder will be permitted to cumulate votes at any election of directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.<u>Advance Notice</u>. Advance notice of stockholder nominations for the election of directors and of business to be brought by stockholders before any meeting of the stockholders of the Corporation shall be given in the manner provided in the Bylaws of the Corporation**.**

**ARTICLE IX** 

To the fullest extent permitted by law, no director or officer of the Corporation shall be personally liable for monetary damages for breach of fiduciary duty as a director or officer. Without limiting the effect

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of the preceding sentence, if the Delaware General Corporation Law is hereafter amended to authorize the further elimination or limitation of the liability of a director or officer, then the liability of a director or officer of the Corporation shall be eliminated or limited to the fullest extent permitted by the Delaware General Corporation Law, as so amended.

No amendment, repeal or elimination of this <u>Article IX</u>, or the adoption of any provision of this Amended and Restated Certificate inconsistent with this <u>Article IX</u>, shall eliminate, reduce or otherwise adversely affect any limitation on the personal liability of a director or officer of the Corporation existing at the time of such amendment, repeal, elimination or adoption of such an inconsistent provision.

**ARTICLE X** 

If any provision of this Amended and Restated Certificate becomes or is declared on any ground by a court of competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Amended and Restated Certificate, and the court will replace such illegal, void or unenforceable provision of this Amended and Restated Certificate with a valid and enforceable provision that most accurately reflects the Corporation's intent, in order to achieve, to the maximum extent possible, the same economic, business and other purposes of the illegal, void or unenforceable provision. The balance of this Amended and Restated Certificate shall be enforceable in accordance with its terms.

Except as provided in <u>Article IX</u> and subject to <u>Section V.10</u>, the Corporation reserves the right to amend, alter, change or repeal any provision contained in this Amended and Restated Certificate, in the manner now or hereafter prescribed by statute, and all rights conferred upon stockholders herein are granted subject to this reservation. Subject to <u>Section V.10</u>, any amendment to this Amended and Restated Certificate that requires stockholder approval pursuant to the Delaware General Corporation Law shall require the affirmative vote of the holders of at least a majority of the voting power of the outstanding shares of stock of the Corporation entitled to vote generally in the election of directors, voting together as a single class.

\* \* \*

**THIRD**: That the foregoing amendment and restatement was approved by the holders of the requisite number of shares of the Corporation in accordance with Section 228 of the Delaware General Corporation Law.

**FOURTH**: That said Amended and Restated Certificate of Incorporation, which restates and integrates and further amends the provisions of the Existing Certificate, has been duly adopted in accordance with Sections 242 and 245 of the Delaware General Corporation Law.

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IN WITNESS WHEREOF, this Amended and Restated Certificate of Incorporation has been duly executed by a duly authorized officer of the corporation on this day of , 2025.

Scott Beck

President and Chief Executive Officer

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## Exhibit 4.1

**Exhibit 4.1**

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "<u>ACT</u>"), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN SECTIONS 6.2 BELOW, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE COMPANY, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION.

<u>WARRANT TO PURCHASE SHARES</u>

THIS WARRANT TO PURCHASE SHARES (as amended and in effect from time to time, this "<u>Warrant</u>") is issued as of the issue date set forth on Schedule I hereto (the "<u>Issue Date</u>") by the company set forth on Schedule I hereto (the "<u>Company</u>") to [•] ("<u>Holder</u>"). This Warrant is issued in full satisfaction of that certain Warrant to Purchase Units issued to Holder by Gloo Holdings, LLC on April 23, 2024. The parties agree as follows:

SCHEDULE I. <u>WARRANT PROVISIONS</u>.

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| | |
|:---|:---|
| &nbsp;&nbsp;<u>Warrant Section</u> | &nbsp;&nbsp;<u>Warrant Provision</u> |
| &nbsp;&nbsp;Recitals – "Issue Date" | &nbsp;&nbsp;[•] |
| &nbsp;&nbsp;Recitals – "Company" | &nbsp;&nbsp;Gloo Holdings, Inc., a Delaware corporation |
| &nbsp;&nbsp;1.1 – "Exercise Price" | &nbsp;&nbsp;$18.00 per Share to be issued hereunder |
| &nbsp;&nbsp;6.1 – "Expiration Date" | &nbsp;&nbsp;[•]<br>|

---

Section 1.<u>RIGHT TO PURCHASE SHARES.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1<u>Grant of Right</u>. For good and valuable consideration, the Company hereby grants to Holder (together with any successor or permitted assignee or transferee of this Warrant or of any Shares issued upon exercise hereof, "<u>Holder</u>") the right, and Holder is entitled, to purchase from the Company up to [•] fully paid and non-assessable shares of Class B common stock ("<u>Class B Common Stock</u>") of the Company (the "<u>Shares</u>"), at the purchase price per Share set forth on Schedule I hereto (the "<u>Exercise Price</u>"), subject to the provisions and upon the terms and conditions set forth in this Warrant.

Section 2.<u>EXERCISE.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1<u>Method of Exercise</u>. Holder may exercise this Warrant in whole or in part at any time and from time to time prior to the expiration or earlier termination of this Warrant, by delivering to the Company the original of this Warrant together with a duly executed Notice of Exercise in substantially the form attached hereto as <u>Appendix 1</u> and a check, wire transfer of same-day funds (to an account designated by the Company), or other form of payment acceptable to the Company, in an amount equal to the product obtained by multiplying (i) the number of Shares to be purchased by the Holder by (ii) the Exercise Price, as determined in accordance with the terms hereof (the "<u>Aggregate Exercise Price</u>"). Notwithstanding any contrary provision herein, to the extent that the original of this Warrant is an electronic original, in no event shall an original ink-signed paper copy of this Warrant be required for any exercise of a Holder's rights hereunder, nor shall this Warrant or any physical copy hereof be required to be physically surrendered at the time of any exercise hereof. Upon receipt of the Notice of Exercise, the Company shall issue the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2<u>Fair Market Value</u>. If shares of Class A common stock of the Company ("<u>Class A Common Stock</u>") are then traded or quoted on a nationally recognized securities exchange, inter-dealer quotation system or over-the-counter market (a "<u>Trading Market</u>"), the fair market value of a Share shall be the closing price or last sale price of a

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share of Class A Common Stock, reported for the Business Day immediately before the date on which Holder delivers this Warrant together with its Notice of Exercise to the Company. If shares of Class A Common Stock are not then traded in a Trading Market, the board of directors of the Company (the "<u>Board</u>") shall determine the fair market value of a Share in its reasonable good faith judgment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3<u>Delivery of Certificate and New Warrant</u>. Within a reasonable time after Holder exercises this Warrant in the manner set forth in Section 2.1, the Company shall deliver to Holder a certificate (or, in the case of uncertificated securities, provide notice of book entry) representing the Shares issued to Holder upon such exercise and, if this Warrant has not been fully exercised and has not expired, a new warrant of like tenor representing the Shares not so acquired (or surrendered in payment of the Aggregate Exercise Price).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4<u>Replacement of Warrant</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Paper Original Warrant</u>. To the extent that the original of this Warrant is a paper original, on receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form, substance and amount to the Company or, in the case of mutilation, on surrender of this Warrant to the Company for cancellation, the Company shall, within a reasonable time, execute and deliver to Holder, in lieu of this Warrant, a new warrant of like tenor and amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Electronic Original Warrant</u>. To the extent that the original of this Warrant is an electronic original, if at any time this Warrant is rejected by any person (including, but not limited to, paying or escrow agents) or any such person fails to comply with the terms of this Warrant based on this Warrant being presented to such person as an electronic record or a printout hereof, or any signature hereto being in electronic form, the Company shall, promptly upon Holder's request and without indemnity, execute and deliver to Holder, in lieu of electronic original versions of this Warrant, a new warrant of like tenor and amount in paper form with original ink signatures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5<u>Treatment of Warrant Upon Acquisition of Company</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Acquisition</u>. "<u>Acquisition</u>" means any transaction or series of related transactions involving: (i) the sale, lease, exclusive license, or other disposition of all or substantially all of the assets of the Company; (ii) any merger or consolidation of the Company into or with another person or entity (other than a merger or consolidation effected exclusively to change the Company's domicile), or any other corporate reorganization, in which the stockholders of the Company in their capacity as such immediately prior to such merger, consolidation or reorganization, own less than a majority of the Company's (or the surviving or successor entity's) outstanding voting power immediately after such merger, consolidation or reorganization; or (iii) any sale or other transfer by the stockholders of the Company of shares of capital stock representing at least a majority of the Company's then-total outstanding combined voting power. For the avoidance of doubt, "Acquisition" shall not include any sale and issuance by the Company of its shares of capital stock or of securities or instruments exercisable for or convertible into, or otherwise representing the right to acquire shares of capital stock of the Company to one or more investors for cash in a transaction or series of related transactions the primary purpose of which is a bona fide equity financing of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Treatment of Warrant in Cash/Public Acquisition</u>. In the event of an Acquisition in which the consideration to be received by the holders of Shares consists solely of cash, solely of Marketable Securities (as hereinafter defined) or a combination of cash and Marketable Securities (a "<u>Cash/Public Acquisition</u>"), and the fair market value of one Share as determined in accordance with Section 2.2 above would be greater than the Exercise Price in effect as of immediately prior to the closing of such Cash/Public Acquisition, and Holder has not previously exercised this Warrant in full, then, in lieu of Holder's exercise of the unexercised portion of this Warrant, this Warrant shall, as of immediately prior to such closing (but subject to the occurrence thereof) automatically cease to represent the right to purchase Shares and shall, from and after such closing, represent solely the right to receive the aggregate consideration that would have been payable in such Acquisition on and in respect of all Shares for which this Warrant was exercisable as of immediately prior to the closing thereof, net of the Aggregate Exercise Price therefor, as if such Shares had been issued and outstanding to Holder as of immediately prior to such closing, as and when such consideration is paid to the holders of Shares. In the event of a Cash/Public Acquisition in which the fair market value of one Share as determined in accordance with Section 2.2 above would be equal to or less than the Exercise Price in

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effect as of immediately prior to the closing of such Cash/Public Acquisition, then this Warrant will automatically and without further action of any party terminate as of immediately prior to such closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Treatment of Warrant in non-Cash/Public Acquisition</u>. Upon the closing of any Acquisition other than a Cash/Public Acquisition, at the election of the Company, either (i) the acquiring, surviving or successor entity shall assume the obligations of this Warrant, and this Warrant shall thereafter be exercisable for the same securities and/or other property as would have been paid for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on and as of the closing of such Acquisition, at an Aggregate Exercise Price equal to the Aggregate Exercise Price in effect as of immediately prior to such closing, all subject to further adjustment from time to time thereafter in accordance with the provisions of this Warrant, or (ii) this Warrant shall be cancelled at closing and the acquiring, surviving or successor entity shall grant to Holder at closing a new warrant in itself or its ultimate parent with a value at the time of grant equal to the value of the Warrant at the time of such closing, as determined in the reasonable discretion of such acquiring, surviving or successor entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)<u>Marketable Securities</u>. "<u>Marketable Securities</u>" means securities meeting all of the following requirements (determined as of immediately prior to the closing of the Acquisition): (i) the issuer thereof is then subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended (the "<u>Exchange Act</u>"), and is then current in its filing of all required reports and other information under the Act and the Exchange Act; (ii) the class and series of shares or other security of the issuer that would be received by Holder in connection with the Acquisition were Holder to exercise this Warrant on or prior to the closing thereof is then traded in a Trading Market, and (iii) following the closing of such Acquisition, Holder would not be restricted from publicly re-selling all of the issuer's shares and/or other securities that would be received by Holder in such Acquisition were Holder to exercise this Warrant in full on or prior to the closing of such Acquisition, except to the extent that any such restriction (x) arises solely under federal or state securities laws, rules or regulations, and (y) does not extend beyond six (6) months from the closing of such Acquisition. Notwithstanding the foregoing provisions of this Section 2.5(d), securities held in escrow or subject to holdback to cover indemnification-related claims shall be deemed to be Marketable Securities if they would otherwise be Marketable Securities but for the fact that they are held in escrow or subject to holdback to cover indemnification-related claims.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6<u>Conversion</u>. Notwithstanding the provisions of Section 1 and 2, in the event all of the outstanding shares of Class B Common Stock are converted into shares of Class A Common Stock of the Company pursuant to the Company's amended and restated certificate of incorporation, as amended from time to time, prior to the exercise (in whole or in part) of this Warrant, this Warrant shall automatically become exercisable for a number of shares of Class A Common Stock that the Holder would have received had this Warrant been exercised for Shares immediately prior to the first date the Class B Common Stock were so converted. In the event that this Warrant shall be exercisable for shares of Class A Common Stock ("<u>Class A Common Shares</u>"), all reference in this Warrant to Shares shall thereafter be deemed to mean Class A Common Shares.

Section 3.<u>CERTAIN ADJUSTMENTS TO THE Shares AND EXERCISE PRICE.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1<u>Stock Dividends, Splits, Etc</u>. If the Company declares or pays a dividend or distribution on the Shares payable in additional Shares (including fractional shares) or other securities or property (other than cash), then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without additional cost to Holder, the total number and kind of securities and property which Holder would have received had Holder owned the Shares of record as of the date the dividend or distribution occurred. If the Company subdivides the Shares by reclassification or otherwise into a greater number of shares, the number of Shares purchasable hereunder shall be proportionately increased, even if such number would include fractional shares, and the Exercise Price shall be proportionately decreased. If the outstanding Shares are combined or consolidated, by reclassification or otherwise, into a lesser number of shares, the Exercise Price shall be proportionately increased and the number of Shares shall be proportionately decreased, even if such number would include fractional shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2<u>Reclassification, Exchange, Combination or Substitution</u>. Upon any event whereby all of the outstanding Shares are reclassified, exchanged, combined, substituted, or replaced for, into, with or by Company securities of a different class and/or series, then from and after the consummation of such event, "Shares" shall mean such securities and this Warrant will be exercisable for the number of such securities that Holder would have received had the Shares been outstanding on and as of the consummation of such event, at an Aggregate Exercise Price equal

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to the Aggregate Exercise Price in effect as of immediately prior to such event, all subject to further adjustment thereafter from time to time in accordance with the provisions of this Warrant. The provisions of this Section 3.2 shall similarly apply to successive reclassifications, exchanges, combinations, substitutions, replacements or other similar events. Notwithstanding the foregoing, to the extent there is any conflict between the provisions in this Section 3.2 and Section 2.6 above, Section 2.6 shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3<u>Adjustment to Exercise Price on Cash Dividend</u>. In the event that the Company at any time or from time to time prior to the exercise in full of this Warrant pays any cash dividend on the outstanding Shares or makes any cash distribution on or in respect of all outstanding Shares (other than a distribution of cash proceeds received by the Company in connection with an Acquisition described in Section 2.5(a)(i) above), then on and as of the date of each such dividend payment and/or distribution, the Exercise Price shall be reduced by an amount equal to the amount paid or distributed upon or in respect of each outstanding Share; provided that in no event shall the Exercise Price be reduced below the then-par value, if any, of a Share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4<u>No Fractional Share</u>. No fractional Share shall be issued upon exercise of this Warrant, and the number of Shares to be issued shall be rounded down to the nearest whole Share. If a fractional interest arises upon any exercise of this Warrant, the Company shall eliminate such fractional interest by paying Holder in cash an amount equal to (a) such fractional interest, multiplied by (b)(i) the fair market value (as determined in accordance with Section 2.2 above) of a full Share, less (ii) the then-effective Exercise Price (the "<u>Fractional Value</u>"), unless Holder otherwise elects, in its sole discretion, to waive such payment. Notwithstanding any contrary provision herein, if this Warrant becomes exercisable for a fractional interest at any time or from time to time prior to the exercise in full of this Warrant, and the Company eliminates such fractional interest prior to any exercise of this Warrant, then the then-effective Exercise Price shall be reduced by an amount equal to the Fractional Value, unless Holder otherwise elects, in its sole discretion, to waive such reduction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5<u>Certificate as to Adjustments</u>. Within a reasonable time following each adjustment of the Exercise Price, Class and/or number of Shares pursuant to the terms of this Warrant, the Company, at its expense, shall deliver a certificate of its Chief Financial Officer or other authorized officer to Holder setting forth the adjustments to the Exercise Price, Class and/or number of Shares and the facts upon which such adjustments are based. The Company shall, at any time and from time to time within a reasonable time following Holder's written request and at the Company's expense, furnish Holder with a certificate of its Chief Financial Officer or other authorized officer setting forth the then-current Exercise Price, Class and number of Shares and the computations or other determinations thereof.

Section 4.<u>REPRESENTATIONS AND COVENANTS OF THE COMPANY.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1<u>Representations and Warranties</u>. The Company represents and warrants to, and agrees with, Holder as follows: All Shares which may be issued upon the exercise of this Warrant, shall, upon issuance, be duly authorized, validly issued, fully paid and non-assessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under the bylaws of the Company, as amended, restated, modified, or supplemented from time to time (the "<u>Bylaws</u>") or applicable federal and state securities laws. The Company covenants that it shall at all times cause to be reserved and kept available such number of Shares and other securities as will be sufficient to permit the exercise in full of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2<u>Notice of Certain Events</u>. If the Company proposes at any time to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)declare any dividend or distribution upon the outstanding Shares, whether in cash, shares of capital stock or other securities or property and whether or not a regular cash dividend;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)offer for subscription or sale pro rata to all holders of the outstanding Shares any additional securities of the Company (other than pursuant to contractual pre-emptive or first refusal rights);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)effect any reclassification, exchange, combination, substitution, reorganization or recapitalization of the outstanding Shares; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)effect an Acquisition, or to liquidate, dissolve or wind up the Company;

then, in connection with each such event, the Company shall give Holder (pursuant to Section 6.5 below):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)in the case of the matters referred to in (a) and (b) above, at least seven (7) Business Days prior written notice of the earlier to occur of the effective date thereof or the date on which a record will be taken for such dividend, distribution, or subscription rights (and specifying the date on which the holders of outstanding Shares will be entitled thereto) or for determining rights to vote, if any; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)in the case of the matters referred to in (c) and (d) above, at least seven (7) Business Days prior written notice of the date when the same will take place (and specifying the date on which the holders of outstanding Shares will be entitled to exchange their shares for the securities or other property deliverable upon the occurrence of such event and such reasonable information as Holder may reasonably require regarding the treatment of this Warrant in connection with such event giving rise to the notice).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3<u>Certain Company Information</u>. Upon request of Holder at any time when the Company is either not current with its reporting requirements under the Exchange Act or is not subject to the reporting requirements under the Exchange Act, the Company will provide such information requested by Holder from time to time, within a reasonable time following each such request, that is reasonably necessary to enable Holder to comply with Holder's accounting or reporting requirement, provided however, that the rights set forth in this Section 4.3 shall not be transferable in connection with any transfer of this Warrant to a direct competitor of the Company.

Section 5.<u>REPRESENTATIONS AND COVENANTS OF HOLDER.</u>

Holder represents and warrants to, and agrees with, the Company as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1<u>Investment Representations</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Purchase for Own Account</u>. This Warrant and the Shares to be acquired upon exercise hereof are being acquired for investment for Holder's account, not as a nominee or agent, and not with a view to the public resale or distribution within the meaning of the Act. Holder also represents that it has not been formed for the specific purpose of acquiring this Warrant or the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Disclosure of Information</u>. Holder is aware of the Company's business affairs and financial condition and has received or has had full access to all the information it considers necessary or appropriate to make an informed investment decision with respect to the acquisition of this Warrant and its underlying securities. Holder further has had an opportunity to ask questions of and receive answers from the Company regarding the terms and conditions of the offering of this Warrant and its underlying securities and to obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to Holder or to which Holder has access.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Investment Experience</u>. Holder understands that the purchase of this Warrant and its underlying securities involves substantial risk. Holder has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic risk of such Holder's investment in this Warrant and its underlying securities for an indefinite period of time, and has such knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or has a preexisting personal or business relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character, business acumen and financial circumstances of such persons.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)<u>Accredited Investor Status</u>. Holder is an "accredited investor" within the meaning of Regulation D promulgated under the Act and agrees to submit to the Company such further assurances of such status as may be reasonably requested by the Company.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)<u>No Registration</u>. Holder understands that this Warrant and the Shares issuable upon exercise hereof have not been registered under the Act or registered or qualified under the securities laws of any state, and are issued in reliance upon specific exemptions therefrom, which exemptions depend upon, among other things, the bona fide nature of the Holder's investment intent as expressed herein. Holder understands that the Company is under no obligation to so register or qualify this Warrant, the Shares or such other securities. Holder understands that this Warrant and the Shares issued upon any exercise hereof are "restricted securities" under applicable federal and state securities laws and must be held indefinitely unless subsequently registered under the Act and registered or qualified under applicable state securities laws, or unless exemptions from such registration and qualification are otherwise available. Holder is aware of the provisions of Rule 144 promulgated under the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2<u>No Stockholder Rights</u>. Without limiting any provision of this Warrant, Holder agrees that as a Holder of this Warrant it will not have any rights (including, but not limited to, voting rights) as a stockholder of the Company with respect to the Shares issuable hereunder unless and until the exercise of this Warrant and then only with respect to the Shares issued on such exercise.

Section 6.<u>MISCELLANEOUS.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1<u>Term</u>. Subject to the provisions of Section 2.5 above, this Warrant is exercisable in whole or in part at any time and from time to time on or before 5:00 PM, Mountain Time on the Expiration Date set forth on Schedule I and shall be void thereafter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2<u>Compliance with Securities Laws on Transfer</u>. This Warrant and the Shares issued upon exercise hereof may not be transferred or assigned in whole or in part except in compliance with applicable federal and state securities laws by the transferor and the transferee (including, without limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the Company).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3<u>Exchange, Assignment or Loss of Warrant</u>. Subject to the provisions of Section 6.2, this Warrant may only be assigned or transferred by the Holder in accordance with the terms of this Warrant, the Bylaws, any other agreement between the Company and Holder, and applicable laws, and, in any event, upon the written consent of the Company, which shall not be unreasonably withheld; provided, however, no Holder shall assign or transfer this Warrant (or any portion hereof) to any Person that competes in whole or in part with the Company as determined in good faith by the Board. Any assignment shall be made by surrender of this Warrant to the Company with the assignment form substantially in the form attached hereto as <u>Appendix 2</u> duly executed (the "<u>Assignment Form</u>"). The Company shall, within ten (10) business days of receipt of the Warrant and Assignment Form, either (i) consent to such assignment and execute and deliver a new Warrant in identical form in the name of the assignee named in such instrument of assignment and this Warrant shall promptly be canceled or (ii) notify the Holder that the Company is withholding its consent to such assignment. This Warrant may be divided or may be combined with other Warrants which carry the same rights upon presentation hereof at the office of the Company together with a written notice specifying the names and the denominations in which new Warrants are to be issued and signed by the Holder hereof. The term "<u>Warrant</u>" as used herein includes any Warrants issued in substitution for or replacement of this Warrant or into which this Warrant may be divided or exchanged. Notwithstanding the foregoing, the Holder shall be entitled to transfer this Warrant to its affiliates (including affiliated funds, members and partners) without the prior written consent of the Company provided that such Holder give written notice to the Company at least ten (10) business days prior to such transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4<u>Payment of Taxes</u>. The Company shall pay all taxes and other governmental charges that may be imposed with respect to the issue or delivery of this Warrant, unless such tax or charge is imposed by law upon Holder, in which case such taxes or charges shall be paid by Holder. The Holder is responsible for all other tax liability that may arise as a result of holding or transferring this Warrant or receiving the Shares upon exercise hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5<u>Notices</u>. All notices and other communications hereunder from the Company to the Holder, or vice versa, shall be deemed delivered and effective (i) when given personally, (ii) on the third (3<sup>rd</sup>) Business Day after being mailed by first-class registered or certified mail, postage prepaid, (iii) upon actual receipt if given by electronic mail and such receipt is confirmed in writing by the recipient, or (iv) on the first Business Day following delivery to a reliable overnight courier service, courier fee prepaid, in any case at such address as may have been furnished to the

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Company or Holder, as the case may be, in writing by the Company or such Holder from time to time in accordance with the provisions of this Section 6.5. All notices to Holder shall be addressed as follows until the Company receives notice of a change of address in connection with a transfer or otherwise:

<br>Attn: <br>Telephone: (____) ______________<br>Email: ______________________

All notices to the Company shall be addressed as follows until Holder receives notice of a change in address:

Gloo Holdings, Inc.

Attn: [•]<br>831 Pearl Street

Boulder, CO 80302<br>Email: gloolegaldistro@gloo.us

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6<u>Amendment and Waiver</u>. Notwithstanding any contrary provision herein or in the Purchase Agreement, this Warrant may be amended and any provision hereof waived (either generally or in a particular instance and either retroactively or prospectively) only by an instrument in writing signed by the Company and the Holder. Any waiver or amendment effected in accordance with this section shall be binding upon each holder of any Shares purchased under this Warrant at the time outstanding, their successors and assigns, and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7<u>Counterparts; Electronic Signatures; Status as Certificated Security</u>. This Warrant may be executed by one or more of the parties hereto in any number of separate counterparts, all of which together shall constitute one and the same instrument. The Company, Holder and any other party hereto may execute this Warrant by electronic means and each party hereto recognizes and accepts the use of electronic signatures and the keeping of records in electronic form by any other party hereto in connection with the execution and storage hereof. To the extent that this Warrant or any agreement subject to the terms hereof or any amendment hereto is executed, recorded or delivered electronically, it shall be binding to the same extent as though it had been executed on paper with an original ink signature, as provided under applicable law, including, without limitation, any state law based on the Uniform Electronic Transactions Act. The fact that this Warrant is executed, signed, stored, or delivered electronically shall not prevent the assignment by any Holder of this Warrant pursuant to Section 6.3 or the enforcement of the terms hereof. To the extent that the original of this Warrant is an electronic original, this Warrant, and any copies hereof, shall NOT be deemed to be a "certificated security" within the meaning of Section 8102(a)(4) of the California Commercial Code. Physical possession of the original of this Warrant or any paper copy thereof shall confer no special status to the bearer thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8<u>Headings</u>. The headings in this Warrant are for purposes of reference only and shall not limit or otherwise affect the meaning of any provision of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.9<u>Business Days</u>. "<u>Business Day</u>" means any day that is not a Saturday, Sunday or a day on which banks in Colorado are closed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10<u>Legends</u>. The Shares (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) shall be imprinted with a legend in substantially the following form:

THE SALE AND ISSUANCE OF SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE ACT, OR THE SECURITIES LAWS OF ANY STATE AND, MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION. NO OPINION OF COUNSEL SHALL BE

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REQUIRED IF THE TRANSFER IS TO AN AFFILIATE OF HOLDER, PROVIDED THAT ANY SUCH TRANSFEREE IS AN "ACCREDITED INVESTOR" AS DEFINED IN REGULATION D PROMULGATED UNDER THE ACT.

Such legend shall be removed and the Company shall, or shall instruct its transfer agent to, issue a certificate without such legend or any other legend to the holder of such shares (i) if such Shares are sold or transferred pursuant to an effective registration statement under the Act covering the resale of such Shares by the holder thereof, (ii) if such Shares are sold or transferred pursuant to Rule 144 under the Act, (iii) if such Shares are eligible for resale without any restrictions under Rule 144 under the Act, or (iv) upon the request of such holder if such request is accompanied (at such holder's expense) by a written opinion of counsel reasonably satisfactory to the Company that registration is not required under the Act or any applicable state securities laws for the resale of the Shares purchased upon exercise of this Warrant. The removal of such restrictive legend from any certificates representing the Shares purchased upon exercise of this Warrant is predicated upon the Company's reliance that the holder of such Shares would sell, transfer, assign, pledge, hypothecate or otherwise dispose of such Shares pursuant to either the registration requirements of the Act, including any applicable prospectus delivery requirements, or an exemption therefrom, and that if such Shares are sold pursuant to a registration statement, they will be sold in compliance with the plan of distribution set forth therein.

Section 7.<u>GOVERNING LAW, VENUE AND JURY TRIAL WAIVER.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1<u>Governing Law</u>. This Warrant shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to its principles regarding conflicts of law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2<u>Jurisdiction and Venue</u>. The Company and Holder each irrevocably and unconditionally submit to the exclusive jurisdiction of the state courts of Colorado and to the jurisdiction of the United States District Court for the State of Colorado for the purpose of any suit, action or other proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or other proceeding arising out of or based upon this Agreement except in the state courts of Colorado or the United States District Court for the State of Colorado and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3<u>Jury Trial Waiver</u>. <u>TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE COMPANY AND HOLDER EACH WAIVES ITS RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS WARRANT, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR THE PARTIES' AGREEMENT TO THIS WARRANT. EACH PARTY HERETO HAS REVIEWED THIS WAIVER WITH ITS COUNSEL.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4<u>Survival</u>. This Section 7 shall survive the termination of this Warrant.

*[Signature page follows]*

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<u>IN WITNESS WHEREOF</u>, the parties have caused this Warrant to Purchase Shares to be executed by their duly authorized representatives effective as of the Issue Date written above.

**COMPANY:**

**GLOO HOLDINGS, INC.**

By:

Name: <u>Scott Beck</u> 

Title: <u>President and Chief Executive Officer</u> 

**HOLDER:**

**[•]**

By:

Name: [•]

Title: [•]

*Signature Page to Warrant*

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APPENDIX 1

<u>Form of Notice of Exercise of Warrant</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.The undersigned Holder hereby exercises its right to purchase ___________ Shares as set forth on Schedule I thereto of Gloo Holdings, Inc., a Delaware corporation (the "<u>Company</u>") in accordance with the attached Warrant to Purchase Shares, and tenders payment of the Aggregate Exercise Price for such shares as follows:

[ ] Check in the amount of $________ payable to order of the Company enclosed herewith

[ ] Wire transfer of immediately available funds to the Company's account

[ ] Other [Describe] __________________________________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Please issue a certificate or certificates (or evidence of book entry) representing the Shares in the name specified below:

___________________________________________

Holder's Name

___________________________________________

___________________________________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Address)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.By its execution below and for the benefit of the Company, Holder hereby makes each of the representations and warranties set forth in Section 5.1 of the Warrant to Purchase Shares as of the date hereof.

HOLDER:

By:

Name:

Title:

(Date):

Appendix 1

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APPENDIX 2

<u>Assignment Form</u>

FOR VALUE RECEIVED the undersigned registered owner of this Warrant, conditioned upon the consent of Gloo Holdings, Inc., which must be obtained pursuant to Section 6.3 of this Warrant, hereby sells, assigns and transfers unto the Assignee named below all of the rights of the undersigned under this Warrant, with respect to the number of Shares set forth below:

Name and Address of Assignee No. of Shares

_________________________________ ________________________

and if such number of shares mentioned herein shall not include all of the Shares issuable as provided in this Warrant, then new Warrants of like tenor and date shall be issued. The undersigned does hereby irrevocably constitute and appoint _________________________ attorney-in-fact to register such transfer on the books of Gloo Holdings, Inc., maintained for the purpose, with full power of substitution in the premises.

Dated: __________ _________________________________

(Name of Registered Owner)

_________________________________

(Signature of Registered Owner)

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## Exhibit 5.1

**Exhibit 5.1**

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| | |
|:---|:---|
| &nbsp;&nbsp;![img148695109_0.jpg](img148695109_0.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wilson Sonsini Goodrich & Rosati<br>Professional Corporation<br>1155 Canyon Blvd.<br>Boulder, Colorado 80302-5148<br>o: 303.256.5900 |

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October 30, 2025

Gloo Holdings, Inc.<br>831 Pearl Street<br>Boulder, Colorado 80302

**Re: Registration Statement on Form S-1**

Ladies and Gentlemen:

This opinion is furnished to you in connection with the Registration Statement on Form S-1 (Registration No. 333-290930), as amended (the "***Registration Statement***"), filed by Gloo Holdings, Inc., a Delaware corporation (the "***Company***"), with the Securities and Exchange Commission (the "***Commission***") in connection with the registration pursuant to the Securities Act of 1933, as amended (the "***Act***"), of up to 12,558,000 shares (including (a) up to 1,365,000 shares issuable upon exercise of an option granted to the underwriters by the Company and (b) up to an additional 2,093,000 shares issuable by the Company if the number of shares included in the proposed registration is increased, which includes a corresponding increase in the option granted by the Company to the underwriters) of the Company's Class A common stock, $0.001 par value per share (the "***Shares***"), to be issued and sold by the Company. We understand that the Shares are to be sold to the underwriters for resale to the public as described in the Registration Statement and pursuant to an underwriting agreement, substantially in the form filed as an exhibit to the Registration Statement, to be entered into by and among the Company and representatives of the several underwriters named therein (the "***Underwriting Agreement***").

We are acting as counsel for the Company in connection with the sale of the Shares by the Company. In such capacity, we have examined originals or copies, certified or otherwise identified to our satisfaction, of such instruments, documents, certificates and records that we have deemed relevant and necessary for the basis of our opinions hereinafter expressed. As to questions of fact material to this opinion, we have relied on certificates or comparable documents of public officials and of officers and representatives of the Company. In our examination, we have assumed: (a) the authenticity of original documents and the genuineness of all signatures; (b) the conformity to the originals of all documents submitted to us as copies; (c) the truth, accuracy and completeness of the information, representations and warranties contained in the instruments, documents, certificates and records we have reviewed; and (d) the legal competence of all signatories to such documents.

We express no opinion herein as to the laws of any state or jurisdiction other than the General Corporation Law of the State of Delaware (including the statutory provisions and all applicable judicial decisions interpreting those laws) and the federal laws of the United States of America.

On the basis of the foregoing, we are of the opinion that upon the effectiveness of the Company's Amended and Restated Certificate of Incorporation, a form of which has been filed as an exhibit to the Registration Statement, the Shares to be issued and sold by the Company have been duly authorized and, when such Shares are issued and paid for in accordance with the terms of the Underwriting Agreement, will be validly issued, fully paid and nonassessable.

\* \* \*

austin boston BOULDER brussels hong kong london los angeles new york palo alto

SALT LAKE CITY san diego san francisco seattle shanghai washington, dc wilmington, de

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![img148695109_1.jpg](img148695109_1.jpg)

October 30, 2025

We consent to the filing of this opinion as an exhibit to the above-referenced Registration Statement, and we consent to the use of our name wherever it appears in the prospectus forming part of the Registration Statement, and in any amendment or supplement thereto. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules or regulations of the Commission thereunder.

Very truly yours,

WILSON SONSINI GOODRICH & ROSATI<br>Professional Corporation

/s/ Wilson Sonsini Goodrich & Rosati, P.C.

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## Exhibit 10.2

**Exhibit 10.2**

**GLOO HOLDINGS, INC.**

**2025 EQUITY INCENTIVE PLAN**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Purposes of the Plan</u>. The purposes of this Plan are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•to attract and retain the best available personnel for positions of substantial responsibility,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•to provide additional incentive to Employees, Directors and Consultants, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•to promote the success of the Company's business.

The Plan permits the grant of Incentive Stock Options, Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units and Performance Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Definitions</u>. As used herein, the following definitions will apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1"<u>Administrator</u>" means the Board or any of its Committees as will be administering the Plan, in accordance with Section 4 of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2"<u>Applicable Laws</u>" means the legal and regulatory requirements relating to the administration of equity-based awards, including but not limited to the related issuance of shares of Common Stock, including but not limited to, under U.S. federal and state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of any non-U.S. country or jurisdiction where Awards are, or will be, granted under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3"<u>Award</u>" means, individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, or Performance Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4"<u>Award Agreement</u>" means the written or electronic agreement setting forth the terms and provisions applicable to each Award granted under the Plan. The Award Agreement is subject to the terms and conditions of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5"<u>Beck</u>" means Scott Beck.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6"<u>Board</u>" means the Board of Directors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7"<u>Change in Control</u>" means the occurrence of any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Change in Ownership of the Company</u>. A change in the ownership of the Company which occurs on the date that any one person, or more than one person acting as a group ("<u>Person</u>"), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than fifty percent (50%) of the total voting power of the stock of the Company; provided, however, that for purposes of this subsection (a), the acquisition

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of additional stock by any one Person, who is considered to own more than fifty percent (50%) of the total voting power of the stock of the Company will not be considered a Change in Control; provided, further, that any change in the ownership of the stock of the Company as a result of a private financing of the Company that is approved by the Board also will not be considered a Change in Control. Further, if the stockholders of the Company immediately before such change in ownership continue to retain immediately after the change in ownership, in substantially the same proportions as their ownership of shares of the Company's voting stock immediately prior to the change in ownership, direct or indirect beneficial ownership of fifty percent (50%) or more of the total voting power of the stock of the Company or of the ultimate parent entity of the Company, such event will not be considered a Change in Control under this subsection (a). For this purpose, indirect beneficial ownership will include, without limitation, an interest resulting from ownership of the voting securities of one or more corporations or other business entities which own the Company, as the case may be, either directly or through one or more subsidiary corporations or other business entities; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Change in Effective Control of the Company</u>. If the Company has a class of securities registered pursuant to Section 12 of the Exchange Act, a change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any twelve (12) month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this subsection (b), if any Person is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Change in Ownership of a Substantial Portion of the Company's Assets</u>. A change in the ownership of a substantial portion of the Company's assets which occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such Person or Persons) assets from the Company that have a total gross fair market value equal to or more than fifty percent (50%) of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection (c), the following will not constitute a change in the ownership of a substantial portion of the Company's assets: (i) a transfer to an entity that is controlled by the Company's stockholders immediately after the transfer, or (ii) a transfer of assets by the Company to: (A) a stockholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company's stock, (B) an entity, fifty percent (50%) or more of the total value or voting power of which is owned, directly or indirectly, by the Company, (C) a Person, that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power of all the outstanding stock of the Company, or (D) an entity, at least fifty percent (50%) of the total value or voting power of which is owned, directly or indirectly, by a Person described in this subsection (c)(ii)(C). For purposes of this subsection (c), gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.

For purposes of this Section 2.7, persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company.

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Notwithstanding the foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a change in control event within the meaning of Code Section 409A.

Further and for the avoidance of doubt, a transaction will not constitute a Change in Control if: (x) its sole purpose is to change the jurisdiction of the Company's incorporation, or (y) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Company's securities immediately before such transaction, or (z) the Change in Control occurs by virtue of: (1) any acquisition of additional securities of the Company or voting power with respect thereto by Beck or a Permitted Entity of Beck, including as a result of a Permitted Transfer or in connection with a transaction or issuance (including pursuant to outstanding Company equity awards) or any other transaction approved by the Administrator, or (2) any acquisition or disposition of shares of Class B Common Stock by Beck or any Permitted Entity of Beck or change in the total voting power of the capital stock of the Company held by Beck and Beck's Permitted Entities as a result of (i) the conversion of any shares of Class B Common Stock into shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8"<u>Charter</u>" means the Amended and Restated Certificate of Incorporation of the Company effective within one week after the Registration Date as it may thereinafter be amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9"<u>Class B Common Stock</u>" has the meaning set forth in the Charter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10"<u>Code</u>" means the U.S. Internal Revenue Code of 1986, as amended. Reference to a specific section of the Code or regulation thereunder will include such section or regulation, any valid regulation or other formal guidance of general or direct applicability promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such section or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11"<u>Committee</u>" means a committee of Directors or of other individuals satisfying Applicable Laws appointed by the Board, or by a duly authorized committee of the Board, in accordance with Section 4 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12"<u>Common Stock</u>" means the Class A common stock of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13"<u>Company</u>" means Gloo Holdings, Inc., a Delaware corporation, or any successor thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14"<u>Consultant</u>" means any natural person, including an advisor, engaged by the Company or any of its Parent or Subsidiaries to render bona fide services to such entity, provided the services (a) are not in connection with the offer or sale of securities in a capital-raising transaction, and (b) do not directly promote or maintain a market for the Company's securities, in each case, within the meaning of Form S-8 promulgated under the Securities Act, and provided further, that a Consultant will include only those persons to whom the issuance of Shares may be registered under Form S-8 promulgated under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15"<u>Director</u>" means a member of the Board.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.16"<u>Disability</u>" means total and permanent disability as defined in Code Section 22(e)(3), provided that in the case of Awards other than Incentive Stock Options, the Administrator in its discretion may determine whether a permanent and total disability exists in accordance with uniform and non-discriminatory standards adopted by the Administrator from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.17"<u>Employee</u>" means any person, including Officers and Directors, employed by the Company or any Parent or Subsidiary of the Company. Neither service as a Director nor payment of a director's fee by the Company will be sufficient to constitute "employment" by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.18"<u>Exchange Act</u>" means the U.S. Securities Exchange Act of 1934, as amended, including the rules and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19"<u>Exchange Program</u>" means a program under which (a) outstanding Awards are surrendered or cancelled in exchange for awards of the same type (which may have higher or lower exercise prices and different terms), awards of a different type, and/or cash, (b) Participants would have the opportunity to transfer any outstanding Awards to a financial institution or other person or entity selected by the Administrator, and/or (c) the exercise price of an outstanding Award is reduced or increased. The Administrator will determine the terms and conditions of any Exchange Program in its sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20"<u>Fair Market Value</u>" means, as of any date and unless the Administrator determines otherwise, the value of Common Stock determined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the New York Stock Exchange or the Nasdaq Global Select Market, the Nasdaq Global Market, or the Nasdaq Capital Market of The Nasdaq Stock Market, its Fair Market Value will be the closing sales price for such stock (or, if no closing sales price was reported on that date, as applicable, on the last Trading Day such closing sales price was reported) as quoted on such exchange or system on the date of determination, as reported in *The Wall Street Journal* or such other source as the Administrator deems reliable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a Share will be the mean between the high bid and low asked prices for the Common Stock on the day of determination (or, if no bids and asks were reported on that date, as applicable, on the last Trading Day such bids and asks were reported), as reported in *The Wall Street Journal* or such other source as the Administrator deems reliable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)For purposes of any Awards granted on the Registration Date, the Fair Market Value will be the initial price to the public as set forth in the final prospectus included within the registration statement on Form S-1 filed with the Securities and Exchange Commission for the initial public offering of the Common Stock; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)In the absence of an established market for the Common Stock, the Fair Market Value will be determined in good faith by the Administrator.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.21"<u>Fiscal Year</u>" means the fiscal year of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.22"<u>Incentive Stock Option</u>" means an Option that by its terms qualifies and is otherwise intended to qualify as an incentive stock option within the meaning of Code Section 422 and the regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.23"<u>Nonstatutory Stock Option</u>" means an Option that by its terms does not qualify or is not intended to qualify as an Incentive Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.24"<u>Officer</u>" means a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25"<u>Option</u>" means a stock option granted pursuant to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.26"<u>Outside Director</u>" means a Director who is not an Employee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.27"<u>Parent</u>" means a "parent corporation," whether now or hereafter existing, as defined in Code Section 424(e).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.28"<u>Participant</u>" means the holder of an outstanding Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.29"<u>Performance Awards</u>" means an Award which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine and which may be cash- or stock-denominated and may be settled for cash, Shares or other securities or a combination of the foregoing under Section 10.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30"<u>Performance Period</u>" means Performance Period as defined in Section 10.1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.31"<u>Period of Restriction</u>" means the period (if any) during which the transfer of Shares of Restricted Stock is subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the passage of time, the achievement of target levels of performance, or the occurrence of other events as determined by the Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.32"<u>Permitted Entity</u>" has the meaning set forth in the Charter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.33"<u>Permitted Transfer</u>" has the meaning set forth in the Charter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.34"<u>Plan</u>" means this 2025 Equity Incentive Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.35"<u>Registration Date</u>" means the effective date of the first registration statement that is filed by the Company and declared effective pursuant to Section 12(b) of the Exchange Act, with respect to any class of the Company's securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.36"<u>Restricted Stock</u>" means Shares issued pursuant to an Award of Restricted Stock under Section 8 of the Plan, or issued pursuant to the early exercise of an Option.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.37"<u>Restricted Stock Unit</u>" means a bookkeeping entry representing an amount equal to the fair market value of one Share, granted pursuant to Section 9. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38"<u>Rule 16b-3</u>" means Rule 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in effect when discretion is being exercised with respect to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.39"<u>Section 16(b)</u>" means Section 16(b) of the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.40"<u>Section 409A</u>" means Code Section 409A and the U.S. Treasury Regulations and guidance thereunder, and any applicable state law equivalent, as each may be promulgated, amended or modified from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.41"<u>Securities Act</u>" means the U.S. Securities Act of 1933, as amended, including the rules and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.42"<u>Service Provider</u>" means an Employee, Director, or Consultant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.43"<u>Share</u>" means a share of the Common Stock, as adjusted in accordance with Section 15 of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.44"<u>Stock Appreciation Right</u>" means an Award, granted alone or in connection with an Option, that pursuant to Section 7 is designated as a Stock Appreciation Right.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45"<u>Subsidiary</u>" means a "subsidiary corporation," whether now or hereafter existing, as defined in Code Section 424(f).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.46"<u>Trading Day</u>" means a day that the primary stock exchange, national market system, or other trading platform, as applicable, upon which the Common Stock is listed (or otherwise trades regularly, as determined by the Administrator, in its sole discretion) is open for trading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.47"<u>U.S. Treasury Regulations</u>" means the Treasury Regulations of the Code. Reference to a specific Treasury Regulation or Section of the Code will include such Treasury Regulation or Section, any valid regulation promulgated under such Section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such Section or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Stock Subject to the Plan</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1<u>Stock Subject to the Plan</u>. Subject to adjustment upon changes in capitalization of the Company as provided in Section 15 and the automatic increase set forth in Section 3.2, the maximum aggregate number of Shares that may be subject to Awards and sold under the Plan will be equal to (a) 13,357,842 Shares, plus (b) a number of Shares equal to the number of shares subject to options or other awards granted under the Company's 2014 Gloo Holdings, LLC Membership Unit Option Plan, as amended, (the "<u>Unit Option Plan</u>") that, on or after the Registration Date, expire or otherwise terminate without having been exercised in full, are tendered to or withheld by the Company for payment of an exercise price or for tax withholding

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obligations, or are forfeited to or repurchased by the Company due to failure to vest, with the maximum number of Shares to be added to the Plan pursuant to clause (b) equal to 4,356,272 Shares. In addition, Shares may become available for issuance under Sections 3.2 and 3.3. The Shares may be authorized but unissued, or reacquired Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2<u>Automatic Share Reserve Increase</u>. Subject to adjustment upon changes in capitalization of the Company as provided in Section 15, the number of Shares available for issuance under the Plan will be increased on the first day of each Fiscal Year beginning with the 2026 Fiscal Year, in an amount equal to the least of (a) 10,800,000 Shares, (b) five percent (5%) of the total number of shares of all classes of common stock of the Company outstanding on the last day of the immediately preceding Fiscal Year, or (c) such number of Shares determined by the Board no later than the last day of the immediately preceding Fiscal Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3<u>Lapsed Awards</u>. If an Award expires or becomes unexercisable without having been exercised in full, is surrendered pursuant to an Exchange Program, or, with respect to Restricted Stock, Restricted Stock Units, or Performance Awards is forfeited to or repurchased by the Company due to the failure to vest, the unpurchased Shares (or for Awards other than Options or Stock Appreciation Rights the forfeited or repurchased Shares) which were subject thereto will become available for future grant or sale under the Plan (unless the Plan has terminated). With respect to Stock Appreciation Rights, only Shares actually issued pursuant to a Stock Appreciation Right will cease to be available under the Plan; all remaining Shares under Stock Appreciation Rights will remain available for future grant or sale under the Plan (unless the Plan has terminated). Shares that have actually been issued under the Plan under any Award will not be returned to the Plan and will not become available for future distribution under the Plan; provided, however, that if Shares issued pursuant to Awards of Restricted Stock, Restricted Stock Units or Performance Awards are repurchased by the Company or are forfeited to the Company due to the failure to vest, such Shares will become available for future grant under the Plan. Shares used to pay the exercise price of an Award or to satisfy the tax liabilities or withholdings related to an Award will become available for future grant or sale under the Plan. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash payment will not result in reducing the number of Shares available for issuance under the Plan. Notwithstanding the foregoing and, subject to adjustment as provided in Section 15, the maximum number of Shares that may be issued upon the exercise of Incentive Stock Options will equal the aggregate Share number stated in Section 3.1, plus, to the extent allowable under Code Section 422 and the U.S. Treasury Regulations promulgated thereunder, any Shares that become available for issuance under the Plan pursuant to Sections 3.2 and 3.3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4<u>Share Reserve</u>. The Company, during the term of this Plan, will at all times reserve and keep available such number of Shares as will be sufficient to satisfy the requirements of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Administration of the Plan</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1<u>Procedure</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.1<u>Multiple Administrative Bodies</u>. Different Committees with respect to different groups of Service Providers may administer the Plan.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.2<u>Rule 16b-3</u>. To the extent desirable to qualify transactions hereunder as exempt under Rule 16b-3, the transactions contemplated hereunder will be structured to satisfy the requirements for exemption under Rule 16b-3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.3<u>Other Administration</u>. Other than as provided above, the Plan will be administered by (A) the Board or (B) a Committee, which Committee will be constituted to comply with Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2<u>Powers of the Administrator</u>. Subject to the provisions of the Plan, and in the case of a Committee, subject to the specific duties delegated by the Board to such Committee, the Administrator will have the authority, in its discretion:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)to determine the Fair Market Value;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)to select the Service Providers to whom Awards may be granted hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)to determine the number of Shares to be covered by each Award granted hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)to approve forms of Award Agreements for use under the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder. Such terms and conditions include, but are not limited to, the exercise price, the time or times when Awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or limitation regarding any Award or the Shares relating thereto (including but not limited to, temporarily suspending the exercisability of an Award if the Administrator deems such suspension to be necessary or appropriate for administrative purposes or to comply with Applicable Laws, provided that such suspension must be lifted prior to the expiration of the maximum term and post-termination exercisability period of an Award), based in each case on such factors as the Administrator will determine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)to institute and determine the terms and conditions of an Exchange Program, including, subject to Section 20.3, to unilaterally implement an Exchange Program without the consent of the applicable Award holder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)to construe and interpret the terms of the Plan and Awards granted pursuant to the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans established for the purpose of satisfying applicable non-U.S. laws or for qualifying for favorable tax treatment under applicable non-U.S. laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)to modify or amend each Award (subject to Section 20.3), including but not limited to the discretionary authority to extend the post-termination exercisability period

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of Awards and to extend the maximum term of an Option or Stock Appreciation Right (subject to Sections 6.4 and 7.5);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)to allow Participants to satisfy withholding tax obligations in a manner prescribed in Section 16;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)to authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award previously granted by the Administrator;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)to allow a Participant to defer the receipt of the payment of cash or the delivery of Shares that otherwise would be due to such Participant under an Award; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)to make all other determinations deemed necessary or advisable for administering the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3<u>Effect of Administrator's Decision</u>. The Administrator's decisions, determinations and interpretations will be final and binding on all Participants and any other holders of Awards and will be given the maximum deference permitted by Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>Eligibility</u>. Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, and Performance Awards may be granted to Service Providers. Incentive Stock Options may be granted only to Employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.<u>Stock Options</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1<u>Grant of Options</u>. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time to time, may grant Options to Service Providers in such amounts as the Administrator, in its sole discretion, will determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2<u>Option Agreement</u>. Each Award of an Option will be evidenced by an Award Agreement that will specify the exercise price, the term of the Option, the number of Shares subject to the Option, the exercise restrictions, if any, applicable to the Option, and such other terms and conditions as the Administrator, in its sole discretion, will determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3<u>Limitations</u>. Each Option will be designated in the Award Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option. Notwithstanding such designation, however, to the extent that the aggregate Fair Market Value of the Shares with respect to which Incentive Stock Options are exercisable for the first time by the Participant during any calendar year (under all plans of the Company and any Parent or Subsidiary) exceeds one hundred thousand dollars ($100,000), such Options will be treated as Nonstatutory Stock Options. For purposes of this Section 6.3, Incentive Stock Options will be taken into account in the order in which they were granted, the Fair Market Value of the Shares will be determined as of the time the Option with respect to such Shares is granted, and calculation will be performed in accordance with Code Section 422 and the U.S. Treasury Regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4<u>Term of Option</u>. The term of each Option will be stated in the Award Agreement; provided, however, that the term will be no more than ten (10) years from the date of grant thereof. In the case of an Incentive Stock Option granted to a Participant who, at the time

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the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any Parent or Subsidiary, the term of the Incentive Stock Option will be five (5) years from the date of grant or such shorter term as may be provided in the Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5<u>Option Exercise Price and Consideration</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.1<u>Exercise Price</u>. The per Share exercise price for the Shares to be issued pursuant to the exercise of an Option will be determined by the Administrator, but will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. In addition, in the case of an Incentive Stock Option granted to an Employee who owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price will be no less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant. Notwithstanding the foregoing provisions of this Section 6.5.1, Options may be granted with a per Share exercise price of less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant pursuant to a transaction described in, and in a manner consistent with, Code Section 424(a).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.2<u>Waiting Period and Exercise Dates</u>. At the time an Option is granted, the Administrator will fix the period within which the Option may be exercised and will determine any conditions that must be satisfied before the Option may be exercised.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.3<u>Form of Consideration</u>. The Administrator will determine the acceptable form of consideration for exercising an Option, including the method of payment. In the case of an Incentive Stock Option, the Administrator will determine the acceptable form of consideration at the time of grant. Such consideration may consist entirely of: (a) cash (including cash equivalents); (b) check; (c) promissory note, to the extent permitted by Applicable Laws, (d) other Shares, provided that such Shares have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which such Option will be exercised and provided further that accepting such Shares will not result in any adverse accounting consequences to the Company, as the Administrator determines in its sole discretion; (e) consideration received by the Company under a cashless exercise program (whether through a broker or otherwise) implemented by the Company in connection with the Plan; (f) by net exercise; (g) such other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable Laws, or (h) any combination of the foregoing methods of payment. In making its determination as to the type of consideration to accept, the Administrator will consider if acceptance of such consideration may be reasonably expected to benefit the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6<u>Exercise of Option</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.1<u>Procedure for Exercise; Rights as a Stockholder</u>. Any Option granted hereunder will be exercisable according to the terms of the Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement. An Option may not be exercised for a fraction of a Share.

An Option will be deemed exercised when the Company receives: (a) notice of exercise (in such form as the Administrator may specify from time to time) from the person

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entitled to exercise the Option, and (b) full payment for the Shares with respect to which the Option is exercised (together with applicable tax withholding). Full payment may consist of any consideration and method of payment authorized by the Administrator and permitted by the Award Agreement and the Plan. Shares issued upon exercise of an Option will be issued in the name of the Participant or, if requested by the Participant, in the name of the Participant and his or her spouse. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder will exist with respect to the Shares subject to an Option, notwithstanding the exercise of the Option. The Company will issue (or cause to be issued) such Shares promptly after the Option is exercised. No adjustment will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 15 of the Plan.

Exercising an Option in any manner will decrease the number of Shares thereafter available, both for purposes of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.2<u>Termination of Relationship as a Service Provider</u>. If a Participant ceases to be a Service Provider, other than upon the Participant's termination as the result of the Participant's death or Disability, the Participant may exercise his or her Option, to the extent that the Option is vested on the date of termination, within three (3) months of termination, or such shorter or longer period of time, as is specified in the Award Agreement or in writing by the Administrator, in each case, in no event later than the expiration of the term of such Option as set forth in the Award Agreement. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the Participant does not exercise his or her Option within the time specified by the Administrator, the Option will terminate, and the Shares covered by such Option will revert to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.3<u>Disability of Participant</u>. If a Participant ceases to be a Service Provider as a result of the Participant's Disability, the Participant may exercise his or her Option within twelve (12) months of termination, or such longer or shorter period of time as is specified in the Award Agreement or in writing by the Administrator (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement) to the extent the Option is vested on the date of termination. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the Participant does not exercise his or her Option within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.4<u>Death of Participant</u>. If a Participant dies while a Service Provider, the Option may be exercised within twelve (12) months following the Participant's death, or within such longer or shorter period of time as is specified in the Award Agreement or in writing by the Administrator (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement) to the extent that the Option is vested on the date of death, by the Participant's designated beneficiary, provided such beneficiary has been designated prior to the Participant's death in a form (if any) acceptable to the Administrator. If no such beneficiary has

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been designated by the Participant, then such Option may be exercised by the personal representative of the Participant's estate or by the person(s) to whom the Option is transferred pursuant to the Participant's will or in accordance with the laws of descent and distribution (each, a "<u>Legal Representative</u>"). If the Option is exercised pursuant to this Section 6.6.4, Participant's designated beneficiary or Legal Representative shall be subject to the terms of this Plan and the Award Agreement, including but not limited to the restrictions on transferability and forfeitability applicable to the Service Provider. Unless otherwise provided by the Administrator, if at the time of death Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will immediately revert to the Plan. If the Option is not so exercised within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.5<u>Tolling Expiration</u>. A Participant's Award Agreement may also provide that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)if the exercise of the Option following the cessation of Participant's status as a Service Provider (other than upon the Participant's death or Disability) would result in liability under Section 16(b), then the Option will terminate on the earlier of (i) the expiration of the term of the Option set forth in the Award Agreement, or (ii) the tenth (10<sup>th</sup>) day after the last date on which such exercise would result in liability under Section 16(b); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)if the exercise of the Option following the cessation of the Participant's status as a Service Provider (other than upon the Participant's death or Disability) would be prohibited at any time solely because the issuance of Shares would violate the registration requirements under the Securities Act, then the Option will terminate on the earlier of (i) the expiration of the term of the Option or (ii) the expiration of a period of thirty (30) days after the cessation of the Participant's status as a Service Provider during which the exercise of the Option would not be in violation of such registration requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.<u>Stock Appreciation Rights</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1<u>Grant of Stock Appreciation Rights</u>. Subject to the terms and conditions of the Plan, a Stock Appreciation Right may be granted to Service Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2<u>Number of Shares</u>. The Administrator will have complete discretion to determine the number of Shares subject to any Award of Stock Appreciation Rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3<u>Exercise Price and Other Terms</u>. The per Share exercise price for the Shares that will determine the amount of the payment to be received upon exercise of a Stock Appreciation Right as set forth in Section 7.6 will be determined by the Administrator and will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. Otherwise, the Administrator, subject to the provisions of the Plan, will have complete discretion to determine the terms and conditions of Stock Appreciation Rights granted under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4<u>Stock Appreciation Right Agreement</u>. Each Stock Appreciation Right grant will be evidenced by an Award Agreement that will specify the exercise price, the term of the

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Stock Appreciation Right, the conditions of exercise, and such other terms and conditions as the Administrator, in its sole discretion, will determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5<u>Expiration of Stock Appreciation Rights</u>. A Stock Appreciation Right granted under the Plan will expire upon the date determined by the Administrator, in its sole discretion, and set forth in the Award Agreement. Notwithstanding the foregoing, the rules of Section 6.4 relating to the maximum term and Section 6.5 relating to exercise also will apply to Stock Appreciation Rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6<u>Payment of Stock Appreciation Right Amount</u>. Upon exercise of a Stock Appreciation Right, a Participant will be entitled to receive payment from the Company in an amount determined by multiplying:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)The difference between the Fair Market Value of a Share on the date of exercise over the exercise price; times

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)The number of Shares with respect to which the Stock Appreciation Right is exercised.

At the discretion of the Administrator, the payment upon Stock Appreciation Right exercise may be in cash, in Shares of equivalent value, or in some combination thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.<u>Restricted Stock</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1<u>Grant of Restricted Stock</u>. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time to time, may grant Shares of Restricted Stock to Service Providers in such amounts as the Administrator, in its sole discretion, will determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2<u>Restricted Stock Agreement</u>. Each Award of Restricted Stock will be evidenced by an Award Agreement that will specify the Period of Restriction (if any), the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion, will determine. Unless the Administrator determines otherwise, the Company as escrow agent will hold Shares of Restricted Stock until the restrictions on such Shares have lapsed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3<u>Transferability</u>. Except as provided in this Section 8 or as the Administrator determines, Shares of Restricted Stock may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable Period of Restriction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4<u>Other Restrictions</u>. The Administrator, in its sole discretion, may impose such other restrictions on Shares of Restricted Stock as it may deem advisable or appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5<u>Removal of Restrictions</u>. Except as otherwise provided in this Section 8, Shares of Restricted Stock covered by each Restricted Stock grant made under the Plan will be released from escrow as soon as practicable after the last day of the Period of Restriction or at such other time as the Administrator may determine. The Administrator, in its discretion, may accelerate the time at which any restrictions will lapse or be removed.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6<u>Voting Rights</u>. During the Period of Restriction, Service Providers holding Shares of Restricted Stock granted hereunder may exercise full voting rights with respect to those Shares, unless the Administrator determines otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7<u>Dividends and Other Distributions</u>. During the Period of Restriction, Service Providers holding Shares of Restricted Stock will be entitled to receive all dividends and other distributions paid with respect to such Shares, unless the Administrator provides otherwise. If any such dividends or distributions are paid in Shares, the Shares will be subject to the same restrictions on transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.8<u>Return of Restricted Stock to Company</u>. On the date set forth in the Award Agreement, the Restricted Stock for which restrictions have not lapsed will revert to the Company and again will become available for grant under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.<u>Restricted Stock Units</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1<u>Grant</u>. Restricted Stock Units may be granted at any time and from time to time as determined by the Administrator. After the Administrator determines that it will grant Restricted Stock Units, it will advise the Participant in an Award Agreement of the terms, conditions, and restrictions related to the grant, including the number of Restricted Stock Units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2<u>Vesting Criteria and Other Terms</u>. The Administrator will set vesting criteria in its discretion, which, depending on the extent to which the criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Participant. The Administrator may set vesting criteria based upon the achievement of Company-wide, divisional, business unit, or individual goals (including, but not limited to, continued employment or service), applicable federal or state securities laws or any other basis determined by the Administrator in its discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3<u>Earning Restricted Stock Units</u>. Upon meeting the applicable vesting criteria, the Participant will be entitled to receive a payout as determined by the Administrator. Notwithstanding the foregoing, at any time after the grant of Restricted Stock Units, the Administrator, in its sole discretion, may reduce or waive any vesting criteria that must be met to receive a payout.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4<u>Form and Timing of Payment</u>. Payment of earned Restricted Stock Units will be made at the time(s) determined by the Administrator and set forth in the Award Agreement. The Administrator, in its sole discretion, may settle earned Restricted Stock Units in cash, Shares, or a combination of both.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5<u>Cancellation</u>. On the date set forth in the Award Agreement, all unearned Restricted Stock Units will be forfeited to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.<u>Performance Awards</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1<u>Award Agreement</u>. Each Performance Award will be evidenced by an Award Agreement that will specify any time period during which any performance objectives or

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other vesting provisions will be measured ("<u>Performance Period</u>"), and such other terms and conditions as the Administrator determines. Each Performance Award will have an initial value that is determined by the Administrator on or before its date of grant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2<u>Objectives or Vesting Provisions and Other Terms</u>. The Administrator will set any objectives or vesting provisions that, depending on the extent to which any such objectives or vesting provisions are met, will determine the value of the payout for the Performance Awards. The Administrator may set vesting criteria based upon the achievement of Company-wide, divisional, business unit, or individual goals (including, but not limited to, continued employment or service), applicable federal or state securities laws, or any other basis determined by the Administrator in its discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3<u>Earning Performance Awards</u>. After an applicable Performance Period has ended, the holder of a Performance Award will be entitled to receive a payout for the Performance Award earned by the Participant over the Performance Period. The Administrator, in its discretion, may reduce or waive any performance objectives or other vesting provisions for such Performance Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4<u>Form and Timing of Payment</u>. Payment of earned Performance Awards will be made at the time(s) determined by the Administrator and set forth in the Award Agreement. The Administrator, in its sole discretion, may settle earned Performance Awards in cash, Shares, or a combination of both.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5<u>Cancellation of Performance Awards</u>. On the date set forth in the Award Agreement, all unearned or unvested Performance Awards will be forfeited to the Company, and again will be available for grant under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.<u>Compliance With Section 409A</u>. Awards will be designed and operated in such a manner that they are either exempt from the application of, or comply with, the requirements of Section 409A such that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Section 409A, except as otherwise determined in the sole discretion of the Administrator. The Plan and each Award Agreement under the Plan is intended to be exempt from or meet the requirements of Section 409A and will be construed and interpreted in accordance with such intent (including with respect to any ambiguities or ambiguous terms), except as otherwise determined in the sole discretion of the Administrator. To the extent that an Award or payment, or the settlement or deferral thereof, is subject to Section 409A the Award will be granted, paid, settled or deferred in a manner that will meet the requirements of Section 409A, such that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Section 409A. In no event will the Company or any of its Parent or Subsidiaries have any responsibility, liability, or obligation to reimburse, indemnify, or hold harmless a Participant (or any other person) in respect of Awards, for any taxes, penalties or interest that may be imposed on, or other costs incurred by, Participant (or any other person) as a result of Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.<u>Outside Director Limitations</u>. No Outside Director may be paid, issued, or granted, in any Fiscal Year, equity awards (including any Awards issued under this Plan) with an aggregate value (the value of which will be based on their grant date fair value determined in accordance

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with U.S. generally accepted accounting principles) and any other compensation (including without limitation any cash retainers or fees) that, in the aggregate, exceed $750,000 (with the limit increased to $1,000,000 for the initial year of service). Any Awards or other compensation paid or provided to an individual for his or her services (i) as an Employee, or for his or her services as a Consultant (other than as an Outside Director) or (ii) on or prior to the Effective Date will not count toward the Annual Director Limit, will not count for purposes of the limitation under this Section 12.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.<u>Leaves of Absence/Transfer Between Locations</u>. Unless the Administrator provides otherwise or as otherwise required by Applicable Laws, vesting of Awards granted hereunder will be suspended during any unpaid leave of absence. A Participant will not cease to be an Employee in the case of (a) any leave of absence approved by the Company or (b) transfers between locations of the Company or between the Company, its Parent, or any of its Subsidiaries. For purposes of Incentive Stock Options, no such leave may exceed three (3) months, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then six (6) months following the first (1<sup>st</sup>) day of such leave, any Incentive Stock Option held by the Participant will cease to be treated as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.<u>Limited Transferability of Awards</u>. Unless determined otherwise by the Administrator, Awards may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent and distribution (which, for purposes of clarification, shall be deemed to include through a beneficiary designation if available in accordance with Section 6.6), and may be exercised, during the lifetime of the Participant, only by the Participant. If the Administrator makes an Award transferable, such Award will contain such additional terms and conditions as the Administrator deems appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.<u>Adjustments; Dissolution or Liquidation; Merger or Change in Control</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.1<u>Adjustments</u>. In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, reclassification, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares occurs (other than any ordinary dividends or other ordinary distributions), the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under the Plan, will adjust the number and class of shares of stock that may be delivered under the Plan and/or the number, class, and price of shares of stock covered by each outstanding Award, and numerical Share limits in Section 3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.2<u>Dissolution or Liquidation</u>. In the event of the proposed dissolution or liquidation of the Company, the Administrator will notify each Participant as soon as practicable prior to the effective date of such proposed transaction. To the extent it has not been previously exercised, an Award will terminate immediately prior to the consummation of such proposed action.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.3<u>Merger or Change in Control</u>. In the event of a merger of the Company with or into another corporation or other entity or a Change in Control, each outstanding Award will be treated as the Administrator determines (subject to the provisions of the following paragraph) without a Participant's consent, including, without limitation, that (a) Awards will be assumed, or substantially equivalent awards will be substituted, by the acquiring or succeeding corporation (or an affiliate thereof) with appropriate adjustments as to the number and kind of shares and prices; (b) upon written notice to a Participant, that the Participant's Awards will terminate upon or immediately prior to the consummation of such merger or Change in Control; (c) outstanding Awards will vest and become exercisable, realizable, or payable, or restrictions applicable to an Award will lapse, in whole or in part prior to or upon consummation of such merger or Change in Control, and, to the extent the Administrator determines, terminate upon or immediately prior to the effectiveness of such merger or Change in Control; (d) (i) the termination of an Award in exchange for an amount of cash and/or property, if any, equal to the amount that would have been attained upon the exercise of such Award or realization of the Participant's rights as of the date of the occurrence of the transaction (and, for the avoidance of doubt, if as of the date of the occurrence of the transaction the Administrator determines in good faith that no amount would have been attained upon the exercise of such Award or realization of the Participant's rights, then such Award may be terminated by the Company without payment), or (ii) the replacement of such Award with other rights or property selected by the Administrator in its sole discretion; or (e) any combination of the foregoing. In taking any of the actions permitted under this Section 15.3, the Administrator will not be obligated to treat all Awards, all Awards held by a Participant, all Awards of the same type, or all portions of Awards, similarly.

In the event that the successor corporation does not assume or substitute for the Award (or portion thereof), the Participant will fully vest in and have the right to exercise his or her outstanding Options and Stock Appreciation Rights (or portions thereof) not assumed or substituted for, including Shares as to which such Awards would not otherwise be vested or exercisable, all restrictions on Restricted Stock, Restricted Stock Units, and Performance Awards (or portions thereof) not assumed or substituted for will lapse, and, with respect to Awards with performance-based vesting (or portions thereof) not assumed or substituted for, all performance goals or other vesting criteria will be deemed achieved at one hundred percent (100%) of target levels and all other terms and conditions met, in each case, unless specifically provided otherwise under the applicable Award Agreement or other written agreement between the Participant and the Company or any of its Subsidiaries or Parents, as applicable. In addition, unless specifically provided otherwise under the applicable Award Agreement or other written agreement between the Participant and the Company or any of its Subsidiaries or Parents, as applicable, if an Option or Stock Appreciation Right (or portion thereof) is not assumed or substituted in the event of a merger or Change in Control, the Administrator will notify the Participant in writing or electronically that the Option or Stock Appreciation Right (or its applicable portion) will be exercisable for a period of time determined by the Administrator in its sole discretion, and the Option or Stock Appreciation Right (or its applicable portion) will terminate upon the expiration of such period.

For the purposes of this Section 15.3 and Section 15.4 below, an Award will be considered assumed if, following the merger or Change in Control, the Award confers the right to purchase or receive, for each Share subject to the Award immediately prior to the merger or Change in Control, the consideration (whether stock, cash, or other securities or property) received

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in the merger or Change in Control by holders of Common Stock for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration received in the merger or Change in Control is not solely common stock of the successor corporation or its Parent, the Administrator may, with the consent of the successor corporation, provide for the consideration to be received upon the exercise of an Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit, or Performance Award, for each Share subject to such Award, to be solely common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the merger or Change in Control.

Notwithstanding anything in this Section 15.3 to the contrary, an Award that vests, is earned or paid-out upon the satisfaction of one or more performance goals will not be considered assumed if the Company or its successor modifies any of such performance goals without the Participant's consent, in all cases, unless specifically provided otherwise under the applicable Award Agreement or other written agreement between the Participant and the Company or any of its Subsidiaries or Parents, as applicable; provided, however, a modification to such performance goals only to reflect the successor corporation's post-Change in Control corporate structure will not be deemed to invalidate an otherwise valid Award assumption.

Notwithstanding anything in this Section 15.3 to the contrary, and unless otherwise provided in an Award Agreement, if an Award that vests, is earned or paid-out under an Award Agreement is subject to Section 409A and if the change in control definition contained in the Award Agreement (or other agreement related to the Award, as applicable) does not comply with the definition of "change in control" for purposes of a distribution under Section 409A, then any payment of an amount that is otherwise accelerated under this Section will be delayed until the earliest time that such payment would be permissible under Section 409A without triggering any penalties applicable under Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.4 <u>Outside Director Awards</u>. With respect to Awards granted to an Outside Director, the Outside Director will fully vest in and have the right to exercise Options and/or Stock Appreciation Rights as to all of the Shares underlying such Award, including those Shares which otherwise would not be vested or exercisable, all restrictions on Restricted Stock and Restricted Stock Units will lapse, and, with respect to Awards with performance-based vesting, all performance goals or other vesting criteria will be deemed achieved at one hundred percent (100%) of target levels and all other terms and conditions met, unless specifically provided otherwise under the applicable Award Agreement or other written agreement between the Participant and the Company or any of its Parent or Subsidiaries, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.<u>Tax Withholding</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1<u>Withholding Requirements</u>. Prior to the delivery of any Shares or cash pursuant to an Award (or exercise thereof) or such earlier time as any tax withholdings are due, the Company (or any of its Parent, Subsidiaries, or affiliates employing or retaining the services of a Participant, as applicable) will have the power and the right to deduct or withhold, or require a Participant to remit to the Company (or any of its Parent, Subsidiaries, or affiliates, as applicable) or a relevant tax authority, an amount sufficient to satisfy U.S. federal, state, local, non-U.S., and

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other taxes (including the Participant's FICA obligation) required to be withheld or paid with respect to such Award (or exercise thereof).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2<u>Withholding Arrangements</u>. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may permit a Participant to satisfy such tax liability or withholding obligation, in whole or in part by such methods as the Administrator shall determine, including, without limitation, (a) paying cash, check or other cash equivalents, (b) electing to have the Company withhold otherwise deliverable cash or Shares having a fair market value equal to the minimum statutory amount required to be withheld or such greater amount as the Administrator may determine if such amount would not have adverse accounting consequences, as the Administrator determines in its sole discretion, (c) delivering to the Company already-owned Shares having a fair market value equal to the minimum statutory amount required to be withheld or such greater amount as the Administrator may determine, in each case, provided the delivery of such Shares will not result in any adverse accounting consequences, as the Administrator determines in its sole discretion, (d) selling a sufficient number of Shares otherwise deliverable to the Participant through such means as the Administrator may determine in its sole discretion (whether through a broker or otherwise) equal to the amount required to be withheld or paid or such greater amount as the Administrator may determine; provided in each case that the delivery of such Shares will not result in any adverse accounting consequences, as the Administrator determines in its sole discretion, (e) such other consideration and method of payment for the meeting of tax liabilities or withholding obligations as the Administrator may determine to the extent permitted by Applicable Laws, or (f) any combination of the foregoing methods of payment. The amount of the withholding requirement will be deemed to include any amount which the Administrator agrees may be withheld at the time the election is made, not to exceed the amount determined by using the maximum federal, state or local marginal income tax rates applicable to the Participant with respect to the Award on the date that the amount of tax to be withheld is to be determined or such greater amount as the Administrator may determine if such amount would not have adverse accounting consequences, as the Administrator determines in its sole discretion. The fair market value of the Shares to be withheld or delivered will be determined as of the date that the taxes are required to be withheld. For the avoidance of doubt, for purposes of determining income reporting and tax withholding obligations, fair market value may be as determined by any reasonable method consistently applied by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.<u>No Effect on Employment or Service</u>. Neither the Plan nor any Award will confer upon a Participant any right with respect to continuing the Participant's relationship as a Service Provider with the Company or its Subsidiaries or Parents, as applicable, nor will they interfere in any way with the Participant's right or the right of the Company and its Subsidiaries or Parents, as applicable, to terminate such relationship at any time, with or without cause, to the extent permitted by Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.<u>Date of Grant</u>. The date of grant of an Award will be, for all purposes, the date on which the Administrator makes the determination granting such Award, or such other later date as is determined by the Administrator. Notice of the determination will be provided to each Participant within a reasonable time after the date of such grant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.<u>Term of Plan</u>. Subject to Section 23 of the Plan, the Plan will become effective as of one business day prior to the Registration Date. The Plan will continue in effect until terminated

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under Section 20, but (a) no Options that qualify as incentive stock options within the meaning of Code Section 422 may be granted after ten (10) years from the earlier of the Board or stockholder approval of the Plan and (b) Section 3.2 relating to automatic share reserve increases will operate only until the ten (10) year anniversary of the earlier of the Board or stockholder approval of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.<u>Amendment and Termination of the Plan</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.1<u>Amendment and Termination</u>. The Administrator may at any time amend, alter, suspend or terminate the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.2<u>Stockholder Approval</u>. The Company will obtain stockholder approval of any Plan amendment to the extent necessary and desirable to comply with Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.3<u>Effect of Amendment or Termination</u>. No amendment, alteration, suspension or termination of the Plan will materially impair the rights of any Participant, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing and signed by the Participant and the Company. Termination of the Plan will not affect the Administrator's ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.<u>Conditions Upon Issuance of Shares</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.1<u>Legal Compliance</u>. Shares will not be issued pursuant to the exercise of an Award unless the exercise of such Award and the issuance and delivery of such Shares will comply with Applicable Laws and will be further subject to the approval of counsel for the Company with respect to such compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.2<u>Investment Representations</u>. As a condition to the exercise of an Award, the Company may require the person exercising such Award to represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.<u>Inability to Obtain Authority</u>. The inability of the Company to obtain authority from any regulatory body having jurisdiction or to complete or comply with the requirements of any registration or other qualification of the Shares under any U.S. state or federal law or non-U.S. law or under the rules and regulations of the Securities and Exchange Commission, the stock exchange on which Shares of the same class are then listed, or any other governmental or regulatory body, which authority, registration, qualification or rule compliance is deemed by the Company's counsel to be necessary or advisable for the issuance and sale of any Shares hereunder, will relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority, registration, qualification or rule compliance will not have been obtained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.<u>Stockholder Approval</u>. The Plan will be subject to approval by the stockholders of the Company within twelve (12) months after the date the Plan is adopted by the Board. Such

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stockholder approval will be obtained in the manner and to the degree required under Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.<u>Forfeiture Events</u>. The Administrator may specify in an Award Agreement that the Participant's rights, payments, and benefits with respect to an Award will be subject to the reduction, cancellation, forfeiture, recoupment, reimbursement, or reacquisition upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. Notwithstanding any provisions to the contrary under this Plan, an Award shall be subject to the Company's clawback policy as may be established and/or amended from time to time to comply with Applicable Laws (including without limitation pursuant to the listing standards of any national securities exchange or association on which the Company's securities are listed or as may be required by the Dodd-Frank Wall Street Reform and Consumer Protection Act) (the "<u>Clawback Policy</u>"). The Administrator may require a Participant to forfeit, return or reimburse the Company all or a portion of the Award and any amounts paid thereunder pursuant to the terms of the Clawback Policy or as necessary or appropriate to comply with Applicable Laws. Unless this Section 24 specifically is mentioned and waived in an Award Agreement or other document, no recovery of compensation under a Clawback Policy or otherwise will constitute an event that triggers or contributes to any right of a Participant to resign for "good reason" or "constructive termination" (or similar term) under any agreement with the Company or any Parent or Subsidiary of the Company.

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**GLOO HOLDINGS, INC.**

**2025 EQUITY INCENTIVE PLAN**

**STOCK OPTION AGREEMENT**

**<u>NOTICE OF STOCK OPTION GRANT</u>**

Unless otherwise defined herein, the terms defined in the Gloo Holdings, Inc. 2025 Equity Incentive Plan (the "<u>Plan</u>") shall have the same defined meanings in this Stock Option Agreement, which includes the Notice of Stock Option Grant (the "<u>Notice of Grant</u>"), the Terms and Conditions of Stock Option Grant, attached hereto as **<u>Exhibit A</u>**, the Exercise Notice, attached hereto as **<u>Exhibit B</u>**, and all other exhibits, appendices, and addenda attached hereto (together, the "<u>Option Agreement</u>").

**Participant Name:**

**Address:**

The undersigned Participant has been granted an Option to purchase Common Stock of the Company, subject to the terms and conditions of the Plan and this Option Agreement, as follows:

Grant Number:

Date of Grant:

Vesting Commencement Date:

Exercise Price per Share: $

Total Number of Shares Granted:

Total Exercise Price: $

Type of Option: ___ Incentive Stock Option

___ Nonstatutory Stock Option

Term/Expiration Date:

<u>Vesting Schedule</u>:

Subject to any acceleration provisions contained in the Plan, this Option Agreement or any other written agreement between Participant and the Company (or any Parent or Subsidiary of the Company, as applicable) governing the terms of this Option, this Option shall vest and be exercisable, in whole or in part, according to the following vesting schedule:

[*Insert vesting schedule, e.g.:* Twenty-five percent (25%) of the Total Number of Shares Granted under the Option shall be scheduled to vest on the one (1) year anniversary of the

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Vesting Commencement Date, and one forty-eighth (1/48<sup>th</sup>) of the Total Number of Shares Granted under the Option shall be scheduled to vest each month thereafter on the same day of the month as the Vesting Commencement Date (and if there is no corresponding day in a particular month, on the last day of the month), subject to Participant continuing to be a Service Provider through each such date.]

<u>Termination Period</u>:

This Option shall be exercisable, to the extent vested, for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant's death or Disability, in which case this Option shall be exercisable, to the extent vested, for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 15 of the Plan.

By Participant's signature and the signature of the representative of the Company below, Participant and the Company agree that this Option is granted under and governed by the terms and conditions of the Plan and this Option Agreement, including the Terms and Conditions of Stock Option Grant, attached hereto as <u>Exhibit A</u>, the Exercise Notice, attached hereto as <u>Exhibit B</u>, and all other exhibits, appendices and addenda attached hereto, all of which are made a part of this document. Participant acknowledges receipt of a copy of the Plan. Participant has reviewed the Plan and this Option Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Option Agreement and fully understands all provisions of the Plan and the Option Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions relating to the Plan or this Option Agreement. Participant further agrees to notify the Company upon any change in Participant's residence address indicated below.

PARTICIPANT GLOO HOLDINGS, INC.

Signature Signature

Print Name Print Name

Title

Residence Address:

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# <u>EXHIBIT A</u> 
**GLOO HOLDINGS, INC.**

**2025 EQUITY INCENTIVE PLAN**

**STOCK OPTION AGREEMENT**

# <u>TERMS AND CONDITIONS OF STOCK OPTION GRANT</u> 
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.1<u>Grant of Option</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.1.1The Company hereby grants to the individual ("<u>Participant</u>") named in the Notice of Stock Option Grant of this Option Agreement (the "<u>Notice of Grant</u>"), an option (the "<u>Option</u>") to purchase the number of Shares set forth in the Notice of Grant, at the exercise price per Share set forth in the Notice of Grant (the "<u>Exercise Price</u>"), subject to all of the terms and conditions in this Option Agreement and the Plan, which is incorporated herein by reference. Subject to Section 20 of the Plan, in the event of a conflict between the terms and conditions of the Plan and this Option Agreement, the terms and conditions of the Plan shall prevail.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.1.2For U.S. taxpayers, if designated in the Notice of Grant as an Incentive Stock Option ("<u>ISO</u>"), this Option is intended to qualify as an Incentive Stock Option as defined in Section 422 of the Code. Nevertheless, to the extent that it exceeds the $100,000 rule of Code Section 422(d), this Option shall be treated as a Nonstatutory Stock Option ("<u>NSO</u>"). Further, if for any reason this Option (or portion thereof) shall not qualify as an ISO, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a NSO granted under the Plan. In no event shall the Administrator, the Company or any Parent or Subsidiary or any of their respective employees or directors have any liability to Participant (or any other person) due to the failure of the Option to qualify for any reason as an ISO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.1.3For non-U.S. taxpayers, the Option will be designated as an NSO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.2<u>Vesting Schedule</u>. Except as provided in Section 3, the Option awarded by this Option Agreement will vest in accordance with the vesting provisions set forth in the Notice of Grant. Unless specifically provided otherwise in this Option Agreement or other written agreement between Participant and the Company or any Parent or Subsidiary of the Company, as applicable, Shares subject to this Option that are scheduled to vest on a certain date or upon the occurrence of a certain condition will not vest in accordance with any of the provisions of this Option Agreement, unless Participant will have been continuously a Service Provider from the Date of Grant until the date such vesting occurs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.3<u>Administrator Discretion</u>. The Administrator, in its discretion, may accelerate the vesting of the balance, or some lesser portion of the balance, of the unvested Option at any time, subject to the terms of the Plan. If so accelerated, such Option will be considered as having vested as of the date specified by the Administrator.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.4<u>Exercise of Option</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.4.1<u>Right to Exercise</u>. This Option shall be exercisable during its term in accordance with the Vesting Schedule set out in the Notice of Grant and with the applicable provisions of the Plan and this Option Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.4.2<u>Method of Exercise</u>. This Option shall be exercisable by delivery of an exercise notice (the "<u>Exercise Notice</u>") in the form attached as <u>Exhibit B</u> to the Notice of Grant or in a manner and pursuant to such procedures as the Administrator may determine, which shall state the election to exercise the Option, the number of Shares with respect to which the Option is being exercised (the "<u>Exercised Shares</u>"), and such other representations and agreements as may be required by the Company. The Exercise Notice shall be completed by Participant and delivered to the Company, accompanied by payment of the aggregate Exercise Price as to all Exercised Shares, together with any applicable Tax Obligations (as defined below). This Option shall be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by the aggregate Exercise Price, together with any applicable Tax Obligations.

No Shares shall be issued pursuant to the exercise of an Option unless such issuance and such exercise comply with Applicable Laws. Assuming such compliance, for income tax purposes the Shares shall be considered transferred to Participant on the date on which the Option is exercised with respect to such Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.5<u>Method of Payment</u>. Payment of the aggregate Exercise Price shall be by any of the following, or a combination thereof, at the election of Participant:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.5.1cash;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.5.2check;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.5.3consideration received by the Company under a formal cashless exercise program adopted by the Company in connection with the Plan; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.5.4if Participant is a U.S. employee, surrender of other Shares which (i) shall be valued at its fair market value on the date of surrender, and (ii) must be owned free and clear of any liens, claims, encumbrances or security interests, if accepting such Shares, in the sole discretion of the Administrator, shall not result in any adverse accounting consequences to the Company.

A non-U.S. resident's methods of exercise may be restricted by the terms and conditions of any appendix to this Agreement for Participant's country (including the Country Addendum, as defined below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.6<u>Non-Transferability of Option</u>. This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Participant only by Participant.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.7<u>Term of Option</u>. This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Option Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.8<u>Tax Obligations</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.8.1<u>Responsibility for Taxes</u>. Participant acknowledges that, regardless of any action taken by the Company or, if different, Participant's employer or any Parent or Subsidiary to which Participant is providing services (together, the "<u>Service Recipients</u>"), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Option, including, without limitation, (i) all federal, state, and local taxes (including Participant's Federal Insurance Contributions Act (FICA) obligations) that are required to be withheld by any Service Recipient or other payment of tax-related items related to Participant's participation in the Plan and legally applicable to Participant, (ii) Participant's and, to the extent required by any Service Recipient, the Service Recipient's fringe benefit tax liability, if any, associated with the grant, vesting, or exercise of the Option or sale of Shares, and (iii) any other Service Recipient taxes the responsibility for which Participant has, or has agreed to bear, with respect to the Option (or exercise thereof or issuance of Shares thereunder) (collectively, the "<u>Tax Obligations</u>"), is and remains Participant's sole responsibility and may exceed the amount actually withheld by the applicable Service Recipient(s). Participant further acknowledges that no Service Recipient (A) makes any representations or undertakings regarding the treatment of any Tax Obligations in connection with any aspect of the Option, including, but not limited to, the grant, vesting or exercise of the Option, the subsequent sale of Shares acquired pursuant to such exercise and the receipt of any dividends or other distributions, and (B) makes any commitment to and is under any obligation to structure the terms of the grant or any aspect of the Option to reduce or eliminate Participant's liability for Tax Obligations or achieve any particular tax result. Further, if Participant is subject to Tax Obligations in more than one jurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, Participant acknowledges that the applicable Service Recipient(s) (or former employer, as applicable) may be required to withhold or account for Tax Obligations in more than one jurisdiction. If Participant fails to make satisfactory arrangements for the payment of any required Tax Obligations hereunder at the time of the applicable taxable event, Participant acknowledges and agrees that the Company may refuse to issue or deliver the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.8.2<u>Tax Withholding</u>. Pursuant to such procedures as the Administrator may specify from time to time, the applicable Service Recipient(s) will withhold the amount required to be withheld for the payment of Tax Obligations. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may permit Participant to satisfy such Tax Obligations, in whole or in part (without limitation), if permissible by applicable local law, by (i) paying cash, (ii) electing to have the Company withhold otherwise deliverable Shares having a fair market value equal to the minimum amount that is necessary to meet the withholding requirement for such Tax Obligations (or such greater amount as Participant may elect if permitted by the Administrator, if such greater amount would not result in adverse financial accounting consequences), (iii) having the amount of such Tax Obligations withheld from Participant's wages or other cash compensation paid to Participant by the applicable Service Recipient(s), (iv) delivering to the Company Shares that Participant owns and that have vested with a fair market value equal to such Tax Obligations, or (v) selling a sufficient number of such Shares otherwise

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deliverable to Participant through such means as the Company may determine in its sole discretion (whether through a broker or otherwise) equal to the minimum amount that is necessary to meet the withholding requirement for such Tax Obligations (or such greater amount as Participant may elect if permitted by the Administrator, if such greater amount would not result in adverse financial accounting consequences). To the extent determined appropriate by the Administrator in its discretion, the Administrator will have the right (but not the obligation) to satisfy any Tax Obligations by reducing the number of Shares otherwise deliverable to Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.8.3<u>Notice of Disqualifying Disposition of ISO Shares</u>. If the Option granted to Participant herein is an ISO, and if Participant sells or otherwise disposes of any of the Shares acquired pursuant to the ISO on or before the later of (i) the date two (2) years after the Date of Grant, or (ii) the date one (1) year after the date of exercise, Participant shall immediately notify the Company in writing of such disposition. Participant agrees that Participant may be subject to income tax withholding by the Company on the compensation income recognized by Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.8.4<u>Section 409A.</u> Under Section 409A, a stock right (such as the Option) that vests after December 31, 2004 (or that vested on or prior to such date but which was materially modified after October 3, 2004), that was granted with a per share exercise price that is determined by the Internal Revenue Service (the "<u>IRS</u>") to be less than the fair market value of an underlying share on the date of grant (a "<u>discount option</u>") may be considered "deferred compensation." A stock right that is a "discount option" may result in (i) income recognition by the recipient of the stock right prior to the exercise of the stock right, (ii) an additional twenty percent (20%) federal income tax, and (iii) potential penalty and interest charges. The "discount option" may also result in additional state income, penalty and interest tax to the recipient of the stock right. Participant acknowledges that the Company cannot and has not guaranteed that the IRS will agree that the per Share exercise price of this Option equals or exceeds the fair market value of a Share on the date of grant in a later examination. Participant agrees that if the IRS determines that the Option was granted with a per Share exercise price that was less than the fair market value of a Share on the date of grant, Participant shall be solely responsible for Participant's costs related to such a determination. In no event will the Company or any of its Parent or Subsidiaries have any responsibility, liability, or obligation to reimburse, indemnify, or hold harmless Participant (or any other person) in respect of this Option or any other Awards, for any taxes, penalties or interest that may be imposed on, or other costs incurred by, Participant (or any other person) as a result of Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.9<u>Rights as Stockholder</u>. Neither Participant nor any person claiming under or through Participant will have any of the rights or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates representing such Shares (which may be in book entry form) will have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to Participant (including through electronic delivery to a brokerage account). After such issuance, recordation and delivery, Participant will have all the rights of a stockholder of the Company with respect to voting such Shares and receipt of dividends and distributions on such Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.10<u>Entire Agreement; Governing Law</u>. The Plan is incorporated herein by reference. The Plan and this Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of

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the Company and Participant with respect to the subject matter hereof, and may not be modified adversely to Participant's interest except by means of a writing signed by the Company and Participant. This Option Agreement is governed by the internal substantive laws but not the choice of law rules of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.11<u>No Guarantee of Continued Service</u>. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER, WHICH UNLESS PROVIDED OTHERWISE UNDER APPLICABLE LAWS IS AT THE WILL OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS OPTION AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE IN ANY WAY WITH PARTICIPANT'S RIGHT OR THE RIGHT OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) TO TERMINATE PARTICIPANT'S RELATIONSHIP AS A SERVICE PROVIDER, SUBJECT TO APPLICABLE LAW, WHICH TERMINATION, UNLESS PROVIDED OTHERWISE UNDER APPLICABLE LAW, MAY BE AT ANY TIME, WITH OR WITHOUT CAUSE.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.12<u>Nature of Grant</u>. In accepting the Option, Participant acknowledges, understands and agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)the grant of the Option is voluntary and occasional and does not create any contractual or other right to receive future grants of options, or benefits in lieu of options, even if options have been granted in the past;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)all decisions with respect to future option or other grants, if any, will be at the sole discretion of the Administrator;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)Participant is voluntarily participating in the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)the Option and any Shares acquired under the Plan are not intended to replace any pension rights or compensation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)the Option and Shares acquired under the Plan and the income and value of same, are not part of normal or expected compensation for purposes of calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)the future value of the Shares underlying the Option is unknown, indeterminable, and cannot be predicted with certainty;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)if the underlying Shares do not increase in value, the Option will have no value;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)if Participant exercises the Option and acquires Shares, the value of such Shares may increase or decrease in value, even below the Exercise Price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)for purposes of the Option, Participant's status as a Service Provider will be considered terminated as of the date Participant is no longer actively providing services to the Company or any Parent or Subsidiary (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is a Service Provider or the terms of Participant's employment or service agreement, if any), and unless otherwise expressly provided in this Option Agreement (including by reference in the Notice of Grant to other arrangements or contracts) or determined by the Administrator, (i) Participant's right to vest in the Option under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g., Participant's period of service would not include any contractual notice period or any period of "garden leave" or similar period mandated under employment laws in the jurisdiction where Participant is a Service Provider or the terms of Participant's employment or service agreement, if any, unless Participant is providing bona fide services during such time); and (ii) the period (if any) during which Participant may exercise the Option after such termination of Participant's engagement as a Service Provider will commence on the date Participant ceases to actively provide services and will not be extended by any notice period mandated under employment laws in the jurisdiction where Participant is employed or terms of Participant's engagement agreement, if any; the Administrator shall have the exclusive discretion to determine when Participant is no longer actively providing services for purposes of this Option grant (including whether Participant may still be considered to be providing services while on a leave of absence and consistent with local law); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)unless otherwise provided in the Plan or by the Administrator in its discretion, the Option and the benefits evidenced by this Option Agreement do not create any entitlement to have the Option or any such benefits transferred to, or assumed by, another company nor be exchanged, cashed out or substituted for, in connection with any corporate transaction affecting the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.13<u>No Advice Regarding Grant</u>. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant's participation in the Plan, or Participant's acquisition or sale of the Shares underlying the Option. Participant is hereby advised to consult with his or her own personal tax, legal and financial advisers regarding his or her participation in the Plan before taking any action related to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.14<u>Address for Notices</u>. Any notice to be given to the Company under the terms of this Option Agreement will be addressed to the Company at Gloo Holdings, Inc., 101 California Street, Suite 500, San Francisco, CA 94111, or at such other address as the Company may hereafter designate in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.15<u>Successors and Assigns</u>. The Company may assign any of its rights under this Option Agreement to single or multiple assignees, and this Option Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restriction on transfer herein set forth, this Option Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of Participant. The rights and obligations of Participant under this Option Agreement may be assigned only with the prior written consent of the Company.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.16<u>Additional Conditions to Issuance of Stock</u>. If at any time the Company will determine, in its discretion, that the listing, registration, qualification or rule compliance of the Shares upon any securities exchange or under any state, federal or non-U.S. law, the tax code and related regulations or under the rulings or regulations of the U.S. Securities and Exchange Commission or any other governmental regulatory body or the clearance, consent or approval of the U.S. Securities and Exchange Commission or any other governmental regulatory authority is necessary or desirable as a condition to the exercise of the Options or the purchase by, or issuance of Shares, to Participant (or his or her estate) hereunder, such exercise, purchase or issuance will not occur unless and until such listing, registration, qualification, rule compliance, clearance, consent or approval will have been completed, effected or obtained free of any conditions not acceptable to the Company. Subject to the terms of the Option Agreement and the Plan, the Company will not be required to issue any certificate or certificates for (or make any entry on the books of the Company or of a duly authorized transfer agent of the Company of) the Shares hereunder prior to the lapse of such reasonable period of time following the date of exercise of the Option as the Administrator may establish from time to time for reasons of administrative convenience.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.17<u>Interpretation</u>. The Administrator will have the power to interpret the Plan and this Option Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules (including, but not limited to, the determination of whether or not any Shares subject to the Option have vested). All actions taken and all interpretations and determinations made by the Administrator in good faith will be final and binding upon Participant, the Company and all other interested persons. Neither the Administrator nor any person acting on behalf of the Administrator will be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Option Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.18<u>Electronic Delivery and Acceptance</u>. The Company may, in its sole discretion, decide to deliver any documents related to the Option awarded under the Plan or future options that may be awarded under the Plan by electronic means or require Participant to participate in the Plan by electronic means. Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through any on-line or electronic system established and maintained by the Company or a third party designated by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.19<u>Captions</u>. Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of this Option Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.20<u>Option Agreement Severable</u>. In the event that any provision in this Option Agreement will be held invalid or unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of this Option Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.21<u>Amendment, Suspension or Termination of the Plan</u>. By accepting this Option, Participant expressly warrants that he or she has received an Option under the Plan, and has received, read and understood a description of the Plan. Participant understands that the Plan is discretionary in nature and may be amended, suspended or terminated by the Administrator at any time.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.22<u>Country Addendum</u>. Notwithstanding any provisions in this Option Agreement, this Option shall be subject to any special terms and conditions set forth in an appendix (if any) to this Option Agreement for any country whose laws are applicable to Participant and this Option (as determined by the Administrator in its sole discretion) (the "<u>Country Addendum</u>"). Moreover, if Participant relocates to one of the countries included in the Country Addendum (if any), the special terms and conditions for such country will apply to Participant, to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Country Addendum (if any) constitutes a part of this Option Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.23<u>Modifications to the Option Agreement</u>. This Option Agreement constitutes the entire understanding of the parties on the subjects covered. Participant expressly warrants that he or she is not accepting this Option Agreement in reliance on any promises, representations, or inducements other than those contained herein. Modifications to this Option Agreement or the Plan can be made only in an express written contract executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in the Plan or this Option Agreement, the Company reserves the right to revise this Option Agreement as it deems necessary or advisable, in its sole discretion and without the consent of Participant, to comply with Section 409A or to otherwise avoid imposition of any additional tax or income recognition under Section 409A in connection with the Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.24<u>No Waiver</u>. Either party's failure to enforce any provision or provisions of this Option Agreement shall not in any way be construed as a waiver of any such provision or provisions, nor prevent that party from thereafter enforcing each and every other provision of this Option Agreement. The rights granted both parties herein are cumulative and shall not constitute a waiver of either party's right to assert all other legal remedies available to it under the circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.25<u>Tax Consequences</u>. Participant has reviewed with his or her own tax advisers the U.S. federal, state, local and non-U.S. tax consequences of this investment and the transactions contemplated by this Option Agreement. With respect to such matters, Participant relies solely on such advisers and not on any statements or representations of the Company or any of its agents, written or oral. Participant understands that Participant (and not the Company) shall be responsible for Participant's own tax liability that may arise as a result of this investment or the transactions contemplated by this Option Agreement.

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**<u>EXHIBIT B</u>**

**GLOO HOLDINGS, INC.**

**2025 EQUITY INCENTIVE PLAN**

**STOCK OPTION AGREEMENT**

**<u>EXERCISE NOTICE</u>**

Gloo Holdings, Inc.

831 Pearl Street

Boulder, Colorado 80302

Attention: Stock Administration

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Exercise of Option</u>. Effective as of today, ________________, ____, the undersigned ("<u>Participant</u>") hereby elects to exercise Participant's option (the "<u>Option</u>") to purchase ________________ shares of the Common Stock (the "Shares") of Gloo Holdings, Inc. (the "<u>Company</u>") under and pursuant to the 2025 Equity Incentive Plan (the "<u>Plan</u>") and the Stock Option Agreement dated ______________, _____, including the Notice of Stock Option Grant, and the Terms and Conditions of Stock Option Grant attached as <u>Exhibit A</u> thereto and other exhibits, appendices and addenda attached thereto (the "<u>Option Agreement</u>"). Unless otherwise defined herein, capitalized terms used in this Exercise Notice will be ascribed the same defined meanings as set forth in the Option Agreement (or the Plan or other written agreement as specified in the Option Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Delivery of Payment</u>. Participant herewith delivers to the Company the full purchase price of the Shares, as set forth in the Option Agreement, and any Tax Obligations to be paid in connection with the exercise of the Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Representations of Participant</u>. Participant acknowledges that Participant has received, read and understood the Plan and the Option Agreement and agrees to abide by and be bound by their terms and conditions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>Rights as Stockholder</u>. Until the issuance of the Shares (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to the Common Stock subject to the Option, notwithstanding the exercise of the Option. The Shares so acquired shall be issued to Participant as soon as practicable after the Option is exercised in accordance with the Option Agreement. No adjustment shall be made for a dividend or other right for which the record date is prior to the date of issuance except as provided in Section 15 of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.<u>Tax Consultation</u>. Participant understands that Participant may suffer adverse tax consequences as a result of Participant's purchase or disposition of the Shares. Participant represents that Participant has consulted with any tax consultants Participant deems advisable in

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connection with the purchase or disposition of the Shares and that Participant is not relying on the Company for any tax advice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.<u>Interpretation</u>. Any dispute regarding the interpretation of this Exercise Notice shall be submitted by Participant or by the Company forthwith to the Administrator, which shall review such dispute at its next regular meeting. The resolution of such a dispute by the Administrator shall be final and binding on all parties to the maximum extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.<u>Governing Law; Severability</u>. This Exercise Notice is governed by the internal substantive laws, but not the choice of law rules, of Delaware. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Exercise Notice shall continue in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.<u>Entire Agreement</u>. The Plan and Option Agreement are incorporated herein by reference. The Plan and the Option Agreement (including this Exercise Notice and any exhibits, appendices, and addenda attached to the Notice of Stock Option Grant of the Option Agreement) constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof, and may not be modified adversely to Participant's interest except by means of a writing signed by the Company and Participant.

Submitted by: Accepted by:

PARTICIPANT GLOO HOLDINGS, INC.

<br>Signature By

<br>Print Name Print Name

Title

Address: Address:

<br> Date Received

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**<u>APPENDIX A</u>**

**GLOO HOLDINGS, INC.**

**2025 EQUITY INCENTIVE PLAN**

**<u>COUNTRY ADDENDUM TO STOCK OPTION AGREEMENT</u>**

Unless otherwise defined herein, capitalized terms used in this Country Addendum to Stock Option Agreement (the "<u>Country Addendum</u>") will be ascribed the same defined meanings as set forth in the Option Agreement of which this Country Addendum forms a part (or the Plan or other written agreement as specified in the Option Agreement).

***Terms and Conditions***

This Country Addendum includes additional terms and conditions that govern this Option awarded to Participant under the Plan if he or she resides and/or works in one of the countries listed below. If Participant is a citizen or resident (or is considered as such for local law purposes) of a country other than the country in which Participant is currently residing and/or working, or if Participant relocates to another country after the Options is granted, the Company, in its discretion, shall determine to what extent the terms and conditions contained herein shall apply to Participant.

***Notifications***

This Country Addendum also may include information regarding exchange controls and certain other issues of which Participant should be aware with respect to participation in the Plan. The information is based on the securities, exchange control, and other Applicable Laws in effect in the respective countries as of [DATE]. Such Applicable Laws often are complex and change frequently. As a result, the Company strongly recommends that Participant not rely on the information in this Country Addendum as the only source of information relating to the consequences of Participant's participation in the Plan because the information may be out of date at the time Participant vests in or exercises the Option or sells Shares acquired under the Plan.

In addition, the information contained in this Country Addendum is general in nature and may not apply to Participant's particular situation, and the Company is not in a position to assure Participant of a particular result. Participant should seek appropriate professional advice as to how the Applicable Laws in Participant's country may apply to his or her situation.

Finally, if Participant is a citizen or resident of a country other than the one in which Participant currently is residing and/or working, transfers residence and/or employment to another country after this Option is awarded, or is considered a resident of another country for local law purposes, the information in this Country Addendum may not apply to Participant in the same manner.

[To be updated as appropriate for non-U.S. grants.]

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**GLOO HOLDINGS, INC.**

**2025 EQUITY INCENTIVE PLAN**

**RESTRICTED STOCK UNIT AGREEMENT**

**<u>NOTICE OF RESTRICTED STOCK UNIT GRANT</u>**

Unless otherwise defined herein, the terms defined in the Gloo Holdings, Inc. 2025 Equity Incentive Plan (the "<u>Plan</u>") will have the same defined meanings in this Restricted Stock Unit Agreement which includes the Notice of Restricted Stock Unit Grant (the "<u>Notice of Grant</u>"), the Terms and Conditions of Restricted Stock Unit Grant, attached hereto as **<u>Exhibit A</u>**, and all other exhibits, appendices, and addenda attached hereto (the "<u>Award Agreement</u>").

**Participant Name:** 

**Address:** 

The undersigned Participant has been granted the right to receive an Award of Restricted Stock Units, subject to the terms and conditions of the Plan and this Award Agreement, as follows:

Grant Number: ______________________________

Date of Grant: ______________________________

Vesting Commencement Date: ______________________________

Total Number of

Restricted Stock Units: ______________________________

<u>Vesting Schedule</u>:

Subject to any acceleration provisions contained in the Plan or set forth below, the Restricted Stock Units will be scheduled to vest in accordance with the following schedule:

[*Insert vesting schedule, e.g.:* Twenty-five percent (25%) of the Restricted Stock Units will vest on the one (1)-year anniversary of the Vesting Commencement Date, and one sixteenth (1/16th) of the Restricted Stock Units will vest on each Quarterly Vesting Date (as defined below) thereafter, subject to Participant continuing to be a Service Provider through each such date.]

A "<u>Quarterly Vesting Date</u>" is [March 15, June 15, September 15 and December 15].

In the event of cessation of Participant's status as a Service Provider for any or no reason before Participant vests in the Restricted Stock Units, the Restricted Stock Units and Participant's right to acquire any Shares hereunder will terminate immediately, unless specifically provided otherwise in this Award Agreement or other written agreement between Participant and the Company or any of its Subsidiaries or Parents, as applicable.

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By Participant's signature and the signature of the representative of Gloo Holdings, Inc. (the "<u>Company</u>") below, Participant and the Company agree that this Award of Restricted Stock Units is granted under and governed by the terms and conditions of the Plan and this Award Agreement, including the Terms and Conditions of Restricted Stock Unit Grant, attached hereto as **<u>Exhibit A</u>**, and all other exhibits, appendices, and addenda attached hereto, all of which are made a part of this document. Participant acknowledges receipt of a copy of the Plan. Participant has reviewed the Plan and this Award Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Award Agreement, and fully understands all provisions of the Plan and this Award Agreement. Participant hereby agrees to accept as binding, conclusive, and final all decisions or interpretations of the Administrator upon any questions relating to the Plan or this Award Agreement. Participant further agrees to notify the Company upon any change in the residence address indicated below.

PARTICIPANT GLOO HOLDINGS, INC.

Signature Signature

Print Name Print Name

Title

Address:

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**<u>EXHIBIT A</u>**

**<u>TERMS AND CONDITIONS OF RESTRICTED STOCK UNIT GRANT</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.26<u>Grant of Restricted Stock Units</u>. The Company hereby grants to the individual ("<u>Participant</u>") named in the Notice of Restricted Stock Unit Grant of this Award Agreement (the "<u>Notice of Grant</u>") under the Plan an Award of Restricted Stock Units, and subject to the terms and conditions of this Award Agreement and the Plan, which is incorporated herein by reference. Subject to Section 20 of the Plan, in the event of a conflict between the terms and conditions of the Plan and this Award Agreement, the terms and conditions of the Plan will prevail.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.27<u>Company's Obligation to Pay</u>. Each Restricted Stock Unit represents the right to receive a Share on the date it vests. Unless and until the Restricted Stock Units will have vested in the manner set forth in Section 3 or 4, Participant will have no right to payment of any such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Unit will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.28<u>Vesting Schedule</u>. Except as provided in Section 4, and subject to Section 5, the Restricted Stock Units awarded by this Award Agreement will vest in accordance with the vesting provisions set forth in the Notice of Grant, subject to Participant continuing to be a Service Provider through each applicable vesting date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.29<u>Payment after Vesting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.29.1<u>General Rule</u>. Subject to Section 8, any Restricted Stock Units that vest will be paid to Participant (or in the event of Participant's death, to his or her properly designated beneficiary or estate) in whole Shares. Subject to the provisions of Section 4(b), such vested Restricted Stock Units will be paid in whole Shares as soon as practicable after vesting, but in each such case within sixty (60) days following the vesting date. In no event will Participant be permitted, directly or indirectly, to specify the taxable year of payment of any Restricted Stock Units payable under this Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.29.2<u>Acceleration</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Discretionary Acceleration</u>. The Administrator, in its discretion, may accelerate the vesting of the balance, or some lesser portion of the balance, of the unvested Restricted Stock Units at any time, subject to the terms of the Plan. If so accelerated, such Restricted Stock Units will be considered as having vested as of the date specified by the Administrator. If Participant is a U.S. taxpayer, the payment of Shares vesting pursuant to this Section 4(b) will in all cases be paid at a time or in a manner that is exempt from, or complies with, Section 409A. The prior sentence may be superseded in a future agreement or amendment to this Award Agreement only by direct and specific reference to such sentence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Notwithstanding anything in the Plan or this Award Agreement or any other agreement (whether entered into before, on or after the Date of Grant), if the vesting of the balance, or some lesser portion of the balance, of the Restricted Stock Units is accelerated in

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connection with the cessation of Participant's status as a Service Provider (provided that such termination is a "separation from service" within the meaning of Section 409A, as determined by the Administrator), other than due to Participant's death, and if (x) Participant is a U.S. taxpayer and a "specified employee" within the meaning of Section 409A at the time of such termination as a Service Provider and (y) the payment of such accelerated Restricted Stock Units will result in the imposition of additional tax under Section 409A if paid to Participant on or within the six (6) month period following the cessation of Participant's status as a Service Provider, then the payment of such accelerated Restricted Stock Units will not be made until the date six (6) months and one (1) day following the date of cessation of Participant's status as a Service Provider, unless Participant dies following his or her termination as a Service Provider, in which case, the Restricted Stock Units will be paid in Shares to Participant's estate as soon as practicable following his or her death.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.29.3<u>Section 409A</u>. It is the intent of this Award Agreement that it and all payments and benefits to U.S. taxpayers hereunder be exempt from, or comply with, the requirements of Section 409A so that none of the Restricted Stock Units provided under this Award Agreement or Shares issuable thereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to be so exempt or so comply. Each payment payable under this Award Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). However, in no event will the Company or any of its Parent or Subsidiaries have any liability or obligation to reimburse, indemnify, or hold harmless Participant for any taxes, penalties, and interest that may be imposed, or other costs that may be incurred, as a result of Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.30<u>Forfeiture Upon Termination as a Service Provider</u>. Unless specifically provided otherwise in this Award Agreement or other written agreement between Participant and the Company or any of its Subsidiaries or Parents, as applicable, if Participant ceases to be a Service Provider for any or no reason, the then-unvested Restricted Stock Units awarded by this Award Agreement will thereupon be forfeited at no cost to the Company and Participant will have no further rights thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.31<u>Tax Consequences</u>. Participant has reviewed with his or her own tax advisors the U.S. federal, state, local, and non-U.S. tax consequences of this investment and the transactions contemplated by this Award Agreement. With respect to such matters, Participant relies solely on such advisors and not on any statements or representations of the Company or any of its agents, written or oral. Participant understands that Participant (and not the Company) will be solely responsible for Participant's own tax liability that may arise as a result of this investment or the transactions contemplated by this Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.32<u>Death of Participant</u>. Any distribution or delivery to be made to Participant under this Award Agreement will, if Participant is then deceased, be made to Participant's designated beneficiary, or if no beneficiary survives Participant, the administrator or executor of Participant's estate. Any such transferee must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.33<u>Tax Obligations</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Responsibility for Taxes</u>. Participant acknowledges that, regardless of any action taken by the Company or, if different, Participant's employer (the "<u>Employer</u>") or any Parent or Subsidiary to which Participant is providing services (together, the "<u>Service Recipients</u>"), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Restricted Stock Units, including, without limitation, (i) all federal, state, and local taxes (including Participant's Federal Insurance Contributions Act (FICA) obligations) that are required to be withheld by any Service Recipient or other payment of tax-related items related to Participant's participation in the Plan and legally applicable to Participant; (ii) Participant's and, to the extent required by any Service Recipient, the Service Recipient's fringe benefit tax liability, if any, associated with the grant, vesting, or settlement of the Restricted Stock Units or sale of Shares; and (iii) any other Service Recipient taxes the responsibility for which Participant has, or has agreed to bear, with respect to the Restricted Stock Units (or settlement thereof or issuance of Shares thereunder) (collectively, the "<u>Tax Obligations</u>"), is and remains Participant's sole responsibility and may exceed the amount actually withheld by the applicable Service Recipient(s). Participant further acknowledges that no Service Recipient (A) makes any representations or undertakings regarding the treatment of any Tax Obligations in connection with any aspect of the Restricted Stock Units, including, but not limited to, the grant, vesting or settlement of the Restricted Stock Units, the subsequent sale of Shares acquired pursuant to such settlement and the receipt of any dividends or other distributions, and (B) makes any commitment to and is under any obligation to structure the terms of the grant or any aspect of the Restricted Stock Units to reduce or eliminate Participant's liability for Tax Obligations or achieve any particular tax result. Further, if Participant is subject to Tax Obligations in more than one jurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, Participant acknowledges that the applicable Service Recipient(s) (or former employer, as applicable) may be required to withhold or account for Tax Obligations in more than one jurisdiction. If Participant fails to make satisfactory arrangements for the payment of any required Tax Obligations hereunder at the time of the applicable taxable event, Participant acknowledges and agrees that the Company may refuse to issue or deliver the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Tax Withholding and Default Method of Tax Withholding</u>. When Shares are issued as payment for vested Restricted Stock Units, Participant generally will recognize immediate U.S. taxable income if Participant is a U.S. taxpayer. If Participant is a non-U.S. taxpayer, Participant will be subject to applicable taxes in his or her jurisdiction. The minimum amount of Tax Obligations which the Company determines must be withheld with respect to this Award ("<u>Tax Withholding Obligation</u>") will be satisfied by Shares being sold on Participant's behalf at the prevailing market price pursuant to such procedures as the Administrator may specify from time to time, including through a broker-assisted arrangement (it being understood that the Shares to be sold must have vested pursuant to the terms of this Award Agreement and the Plan). The proceeds from the sale will be used to satisfy Participant's Tax Withholding Obligation arising with respect to this Award. In addition to Shares sold to satisfy the Tax Withholding Obligation, additional Shares will be sold to satisfy any associated broker or other fees. Only whole Shares will be sold to satisfy any Tax Withholding Obligation. Any proceeds from the sale of Shares in excess of the Tax Withholding Obligation and any associated broker or other fees will be paid to Participant in accordance with procedures the Company may specify from time to time. **By accepting this Award, Participant expressly consents to the sale of Shares to cover the Tax Withholding Obligations (and any associated broker or other fees) and agrees and acknowledges that Participant may not satisfy them by any means** 

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**other than such sale of Shares, unless required to do so by the Administrator or pursuant to the Administrator's express written consent.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Administrator Discretion</u>. If the Administrator determines that Participant cannot satisfy Participant's Tax Withholding Obligation through the default procedure described in Section 8(b) or the Administrator otherwise determines to allow Participant to satisfy Participant's Tax Withholding Obligation by a method other than through the default procedure set forth in Section 8(b), it may permit or require Participant to satisfy Participant's Tax Withholding Obligation, in whole or in part (without limitation), if permissible by applicable local law, by (i) paying cash in U.S. dollars; (ii) electing to have the Company withhold otherwise deliverable Shares having a value equal to the minimum amount statutorily required to be withheld (or such greater amount as Participant may elect if permitted by the Administrator, if such greater amount would not result in adverse financial accounting consequences); (iii) having the amount of such Tax Withholding Obligation withheld from Participant's wages or other cash compensation paid to Participant by the applicable Service Recipient(s); (iv) delivering to the Company Shares that Participant owns and that have vested with a fair market value equal to the minimum amount statutorily required to be withheld (or such greater amount as Participant may elect if permitted by the Administrator, if such greater amount would not result in adverse financial accounting consequences); or (v) such other means as the Administrator deems appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)<u>No Representations</u>. Participant has reviewed with his or her own tax advisers the U.S. federal, state, local and non-U.S. tax consequences of this investment and the transactions contemplated by this Award Agreement. With respect to such matters, Participant relies solely on such advisers and not on any statements or representations of the Company or any of its agents, written or oral. Participant understands that Participant (and not the Company) will be responsible for Participant's own tax liability that may arise as a result of this investment or the transactions contemplated by this Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)<u>Company's Obligation to Deliver Shares</u>. For clarification purposes, in no event will the Company issue Participant any Shares unless and until arrangements satisfactory to the Administrator have been made for the payment of Participant's Tax Withholding Obligation. If Participant fails to make satisfactory arrangements for the payment of such Tax Withholding Obligations hereunder at the time any applicable Restricted Stock Units otherwise are scheduled to vest pursuant to Sections 3 or 4 or Participant's Tax Withholding Obligations otherwise become due, Participant will permanently forfeit such Restricted Stock Units to which Participant's Tax Withholding Obligation relates and any right to receive Shares thereunder and such Restricted Stock Units will be returned to the Company at no cost to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.34<u>Rights as Stockholder</u>. Neither Participant nor any person claiming under or through Participant will have any of the rights or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates representing such Shares (which may be in book entry form) will have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to Participant (including through electronic delivery to a brokerage account). After such issuance, recordation, and delivery, Participant will have all the rights of a stockholder of the Company with respect to voting such Shares and receipt of dividends and distributions on such Shares.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.35<u>No Guarantee of Continued Service</u>. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF THE RESTRICTED STOCK UNITS PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER, WHICH UNLESS PROVIDED OTHERWISE UNDER APPLICABLE LAW IS AT THE WILL OF THE APPLICABLE SERVICE RECIPIENT AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS RESTRICTED STOCK UNIT AWARD OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AWARD AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY WAY WITH PARTICIPANT'S RIGHT OR THE RIGHT OF ANY SERVICE RECIPIENT TO TERMINATE PARTICIPANT'S RELATIONSHIP AS A SERVICE PROVIDER, SUBJECT TO APPLICABLE LAW, WHICH TERMINATION, UNLESS PROVIDED OTHERWISE UNDER APPLICABLE LAW, MAY BE AT ANY TIME, WITH OR WITHOUT CAUSE.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.36<u>Grant is Not Transferable</u>. Except to the limited extent provided in Section 7, this grant and the rights and privileges conferred hereby will not be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and will not be subject to sale under execution, attachment or similar process. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of this grant, or any right or privilege conferred hereby, or upon any attempted sale under any execution, attachment or similar process, this grant and the rights and privileges conferred hereby immediately will become null and void.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.37<u>Nature of Grant</u>. In accepting this Award of Restricted Stock Units, Participant acknowledges, understands and agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.37.1the grant of the Restricted Stock Units is voluntary and occasional and does not create any contractual or other right to receive future grants of Restricted Stock Units, or benefits in lieu of Restricted Stock Units, even if Restricted Stock Units have been granted in the past;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.37.2all decisions with respect to future Restricted Stock Units or other grants, if any, will be at the sole discretion of the Administrator;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.37.3Participant is voluntarily participating in the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.37.4the Restricted Stock Units and the Shares subject to the Restricted Stock Units are not intended to replace any pension rights or compensation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.37.5the Restricted Stock Units and the Shares subject to the Restricted Stock Units, and the income and value of same, are not part of normal or expected compensation for purposes of calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement, or welfare benefits or similar payments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.37.6the future value of the Shares underlying the Restricted Stock Units is unknown, indeterminable, and cannot be predicted;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.37.7for purposes of the Restricted Stock Units, Participant's status as a Service Provider will be considered terminated as of the date Participant is no longer actively providing services to the Company or any Parent or Subsidiary (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is a Service Provider or the terms of Participant's employment or service agreement, if any), and unless otherwise expressly provided in this Award Agreement (including by reference in the Notice of Grant to other arrangements or contracts) or determined by the Administrator, Participant's right to vest in the Restricted Stock Units under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g., Participant's period of service would not include any contractual notice period or any period of "garden leave" or similar period mandated under employment laws in the jurisdiction where Participant is a Service Provider or the terms of Participant's employment or service agreement, if any, unless Participant is providing bona fide services during such time); the Administrator will have the exclusive discretion to determine when Participant is no longer actively providing services for purposes of the Restricted Stock Units grant (including whether Participant may still be considered to be providing services while on a leave of absence and consistent with local law);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.37.8unless otherwise provided in the Plan or by the Administrator in its discretion, the Restricted Stock Units and the benefits evidenced by this Award Agreement do not create any entitlement to have the Restricted Stock Units or any such benefits transferred to, or assumed by, another company nor be exchanged, cashed out or substituted for, in connection with any corporate transaction affecting the Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.37.9the following provisions apply only if Participant is providing services outside the United States:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)the Restricted Stock Units and the Shares subject to the Restricted Stock Units are not part of normal or expected compensation or salary for any purpose;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Participant acknowledges and agrees that no Service Recipient will be liable for any foreign exchange rate fluctuation between Participant's local currency and the United States Dollar that may affect the value of the Restricted Stock Units or of any amounts due to Participant pursuant to the settlement of the Restricted Stock Units or the subsequent sale of any Shares acquired upon settlement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)no claim or entitlement to compensation or damages will arise from forfeiture of the Restricted Stock Units resulting from the termination of Participant's status as a Service Provider (for any reason whatsoever whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is a Service Provider or the terms of Participant's employment or service agreement, if any), and in consideration of the grant of the Restricted Stock Units to which Participant is otherwise not entitled, Participant irrevocably agrees never to institute any claim against any Service Recipient, waives his or her ability, if any, to bring any such claim, and releases each Service Recipient from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, Participant will be deemed irrevocably to have agreed not to pursue such claim and agrees to execute any and all documents necessary to request dismissal or withdrawal of such claim.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.38<u>No Advice Regarding Grant</u>. The Company is not providing any tax, legal, or financial advice, nor is the Company making any recommendations regarding Participant's participation in the Plan, or Participant's acquisition or sale of the Shares underlying the Restricted Stock Units. Participant is hereby advised to consult with his or her own personal tax, legal, and financial advisors regarding his or her participation in the Plan before taking any action related to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.39***<u>Data Privacy</u>. Participant hereby explicitly and unambiguously consents to the collection, use, and transfer, in electronic or other form, of Participant's personal data as described in this Award Agreement and any other Restricted Stock Unit grant materials by and among, as applicable, the Service Recipients for the exclusive purpose of implementing, administering, and managing Participant's participation in the Plan.***

***Participant understands that the Company and the Service Recipient may hold certain personal information about Participant, including, but not limited to, Participant's name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any Shares or directorships held in the Company, details of all Restricted Stock Units or any other entitlement to Shares awarded, canceled, exercised, vested, unvested or outstanding in Participant's favor ("<u>Data</u>"), for the exclusive purpose of implementing, administering, and managing the Plan.*** 

***Participant understands that Data may be transferred to a stock plan service provider, as may be selected by the Company in the future, assisting the Company with the implementation, administration, and management of the Plan. Participant understands that the recipients of the Data may be located in the United States or elsewhere, and that the recipients' country of operation (e.g., the United States) may have different data privacy laws and protections than Participant's country. Participant understands that if he or she resides outside the United States, he or she may request a list with the names and addresses of any potential recipients of the Data by contacting his or her local human resources representative. Participant authorizes the Company, any stock plan service provider selected by the Company, and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering, and managing the Plan to receive, possess, use, retain, and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering, and managing his or her participation in the Plan. Participant understands that Data will be held only as long as is necessary to implement, administer, and manage Participant's participation in the Plan. Participant understands if he or she resides outside the United States, he or she may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing his or her local human resources representative. Further, Participant understands that he or she is providing the consents herein on a purely voluntary basis. If Participant does not consent, or if Participant later seeks to revoke his or her consent, his or her status as a Service Provider and career with the Service Recipient will not be adversely affected. The only adverse consequence of refusing or withdrawing Participant's consent is that the Company would not be able to grant Participant Restricted Stock Units or other equity awards or administer or maintain such awards. Therefore, Participant understands that refusing or withdrawing his or her consent may affect Participant's ability to participate in the Plan. For more information on the consequences of Participant's refusal to consent or withdrawal of*** 

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***consent, Participant understands that he or she may contact his or her local human resources representative.***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.40<u>Address for Notices</u>. Any notice to be given to the Company under the terms of this Award Agreement will be addressed to the Company at Gloo Holdings, Inc., 831 Pearl Street, Boulder, Colorado 80302, or at such other address as the Company may hereafter designate in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.41<u>Electronic Delivery and Acceptance</u>. The Company may, in its sole discretion, decide to deliver any documents related to the Restricted Stock Units awarded under the Plan or future Restricted Stock Units that may be awarded under the Plan by electronic means or require Participant to participate in the Plan by electronic means. Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through any on-line or electronic system established and maintained by the Company or a third party designated by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.42<u>No Waiver</u>. Either party's failure to enforce any provision or provisions of this Award Agreement will not in any way be construed as a waiver of any such provision or provisions, nor prevent that party from thereafter enforcing each and every other provision of this Award Agreement. The rights granted both parties herein are cumulative and will not constitute a waiver of either party's right to assert all other legal remedies available to it under the circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.43<u>Successors and Assigns</u>. The Company may assign any of its rights under this Award Agreement to single or multiple assignees, and this Award Agreement will inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Award Agreement will be binding upon Participant and his or her heirs, executors, administrators, successors and assigns. The rights and obligations of Participant under this Award Agreement may be assigned only with the prior written consent of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.44<u>Additional Conditions to Issuance of Stock</u>. If at any time the Company will determine, in its discretion, that the listing, registration, qualification, or rule compliance of the Shares upon any securities exchange or under any state, federal or non-U.S. law, the tax code, and related regulations or under the rulings or regulations of the United States Securities and Exchange Commission or any other governmental regulatory body or the clearance, consent, or approval of the United States Securities and Exchange Commission or any other governmental regulatory authority is necessary or desirable as a condition to the issuance of Shares to Participant (or his or her estate) hereunder, such issuance will not occur unless and until such listing, registration, qualification, rule compliance, clearance, consent, or approval will have been completed, effected, or obtained free of any conditions not acceptable to the Company. Subject to the terms of the Award Agreement and the Plan, the Company will not be required to issue any certificate or certificates for (or make any entry on the books of the Company or of a duly authorized transfer agent of the Company of) the Shares hereunder prior to the lapse of such reasonable period of time following the date of vesting of the Restricted Stock Units as the Administrator may establish from time to time for reasons of administrative convenience.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.45<u>Language</u>. If Participant has received this Award Agreement or any other document related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.46<u>Interpretation</u>. The Administrator will have the power to interpret the Plan and this Award Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules (including, but not limited to, the determination of whether or not any Restricted Stock Units have vested). All actions taken and all interpretations and determinations made by the Administrator in good faith will be final and binding upon Participant, the Company, and all other interested persons. Neither the Administrator nor any person acting on behalf of the Administrator will be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.47<u>Captions</u>. Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of this Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.48<u>Amendment, Suspension or Termination of the Plan</u>. By accepting this Award, Participant expressly warrants that he or she has received an Award of Restricted Stock Units under the Plan, and has received, read, and understood a description of the Plan. Participant understands that the Plan is discretionary in nature and may be amended, suspended, or terminated by the Administrator at any time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.49<u>Modifications to the Award Agreement</u>. This Award Agreement constitutes the entire understanding of the parties on the subjects covered. Participant expressly warrants that he or she is not accepting this Award Agreement in reliance on any promises, representations, or inducements other than those contained herein. Modifications to this Award Agreement or the Plan can be made only in an express written contract executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in the Plan or this Award Agreement, the Company reserves the right to revise this Award Agreement as it deems necessary or advisable, in its sole discretion and without the consent of Participant, to comply with Section 409A or to otherwise avoid imposition of any additional tax or income recognition under Section 409A in connection with this Award of Restricted Stock Units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.50<u>Entire Agreement; Governing Law</u>. The Plan is incorporated herein by reference. The Plan and this Award Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof, and may not be modified adversely to Participant's interest except by means of a writing signed by the Company and Participant. This Award Agreement is governed by the internal substantive laws but not the choice of law rules of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.51<u>Entire Agreement</u>. The Plan is incorporated herein by this reference. The Plan and this Award Agreement (including the appendices and exhibits referenced herein) constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof, and may not be modified adversely to the Participant's interest except by means of a writing signed by the Company and Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.52<u>Country Addendum</u>. Notwithstanding any provisions in this Award Agreement, the Restricted Stock Unit grant will be subject to any special terms and conditions set forth in an appendix (if any) to this Award Agreement for any country whose laws are applicable to Participant and this

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Award of Restricted Stock Units (as determined by the Administrator in its sole discretion) (the "<u>Country Addendum</u>"). Moreover, if Participant relocates to one of the countries included in the Country Addendum (if any), the special terms and conditions for such country will apply to Participant, to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Country Addendum (if any) constitutes a part of this Award Agreement.

\* \* \*

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**GLOO HOLDINGS, INC.**

**2025 EQUITY INCENTIVE PLAN**

**RESTRICTED STOCK UNIT AGREEMENT**

**COUNTRY ADDENDUM**

***Terms and Conditions***

This Country Addendum includes additional terms and conditions that govern the Award of Restricted Stock Units granted pursuant to the terms and conditions of the Gloo Holdings, Inc. 2025 Equity Incentive Plan (the "<u>Plan</u>") and the Restricted Stock Unit Agreement to which this Country Addendum is attached (the "<u>Restricted Stock Unit Agreement</u>") to the extent the individual to whom the Restricted Stock Units were granted ("<u>Participant</u>") resides in one of the countries listed below.

***Notifications***

This Country Addendum also includes information regarding exchange controls and certain other issues of which Participant should be aware with respect to his or her participation in the Plan. The information is based on the securities, exchange control and other laws in effect in the respective countries as of [DATE]. Such laws often are complex and change frequently. As a result, the Company strongly recommends that Participant not rely on the information in this Country Addendum as the only source of information relating to the consequences of Participant's participation in the Plan because the information may be out of date at the time Participant vest in or receives or sells the Shares covered by the Restricted Stock Units.

In addition, the information contained herein is general in nature and may not apply to Participant's particular situation and the Company is not in a position to assure Participant of any particular result. Accordingly, Participant is advised to seek appropriate professional advice as to how the relevant laws of Participant's country may apply to his or her situation.

Finally, if Participant is a citizen or resident of a country other than the one in which Participant currently is working or transfers to another country after the grant of the Restricted Stock Units, or is considered a resident of another country for local law purposes, the information contained herein may not be applicable to Participant in the same manner. In addition, the Company, in its discretion, will determine the extent to which the terms and conditions contained herein will apply to Participant under these circumstances.

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## Exhibit 10.3

**Exhibit 10.3**

**GLOO HOLDINGS, INC.**

**2025 EMPLOYEE STOCK PURCHASE PLAN**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Purpose</u>. The purpose of the Plan is to provide employees of the Company and its Designated Companies with an opportunity to purchase Common Stock through accumulated Contributions. The Company intends for the Plan to have two components: a component that is intended to qualify as an "employee stock purchase plan" under Code Section 423 (the "<u>423 Component</u>") and a component that is not intended to qualify as an "employee stock purchase plan" under Code Section 423 (the "<u>Non-423 Component</u>"). The provisions of the 423 Component, accordingly, will be construed so as to extend and limit Plan participation in a uniform and nondiscriminatory basis consistent with the requirements of Code Section 423. In addition, this Plan authorizes the grant of an option to purchase shares of Common Stock under the Non-423 Component that does not qualify as an "employee stock purchase plan" under Code Section 423; an option granted under the Non-423 Component will provide for substantially the same benefits as an option granted under the 423 Component, except that a Non-423 Component option may include features necessary to comply with applicable non-U.S. laws pursuant to rules, procedures or sub-plans adopted by the Administrator. Except as otherwise provided herein or by the Administrator, the Non-423 Component will operate and be administered in the same manner as the 423 Component.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Definitions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1"<u>Administrator</u>" means the Board or any Committee designated by the Board to administer the Plan pursuant to Section 4.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2"<u>Applicable Laws</u>" means the legal and regulatory requirements relating to the administration of equity-based awards, including but not limited to the related issuance of shares of Common Stock, including but not limited to, under U.S. federal and state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of any non-U.S. country or jurisdiction where options are, or will be, granted under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3"<u>Beck</u>" means Scott Beck.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4"<u>Board</u>" means the Board of Directors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5"<u>Change in Control</u>" means the occurrence of any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Change in Ownership of the Company</u>. A change in the ownership of the Company which occurs on the date that any one person, or more than one person acting as a group ("<u>Person</u>"), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than fifty percent (50%) of the total voting power of the stock of the Company; provided, however, that for purposes of this subsection (a), the acquisition of additional stock by any one Person, who is considered to own more than fifty percent (50%) of the total voting power of the stock of the Company will not be considered a Change in Control; provided, further, that any change in the ownership of the stock of the Company as a result of a private financing of the Company that is approved by the Board also will not be considered a Change in Control. Further, if

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the stockholders of the Company immediately before such change in ownership continue to retain immediately after the change in ownership, in substantially the same proportions as their ownership of shares of the Company's voting stock immediately prior to the change in ownership, direct or indirect beneficial ownership of fifty percent (50%) or more of the total voting power of the stock of the Company or of the ultimate parent entity of the Company, such event will not be considered a Change in Control under this subsection (a). For this purpose, indirect beneficial ownership will include, without limitation, an interest resulting from ownership of the voting securities of one or more corporations or other business entities which own the Company, as the case may be, either directly or through one or more subsidiary corporations or other business entities; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Change in Effective Control of the Company</u>. If the Company has a class of securities registered pursuant to Section 12 of the Exchange Act, a change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any twelve (12) month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this subsection (b), if any Person is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Change in Ownership of a Substantial Portion of the Company's Assets</u>. A change in the ownership of a substantial portion of the Company's assets which occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such Person or Persons) assets from the Company that have a total gross fair market value equal to or more than fifty percent (50%) of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection (c), the following will not constitute a change in the ownership of a substantial portion of the Company's assets: (i) a transfer to an entity that is controlled by the Company's stockholders immediately after the transfer, or (ii) a transfer of assets by the Company to: (A) a stockholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company's stock, (B) an entity, fifty percent (50%) or more of the total value or voting power of which is owned, directly or indirectly, by the Company, (C) a Person, that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power of all the outstanding stock of the Company, or (D) an entity, at least fifty percent (50%) of the total value or voting power of which is owned, directly or indirectly, by a Person described in this subsection (c)(ii)(C). For purposes of this subsection (c), gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.

For purposes of this Section 2.5, persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company.

Notwithstanding the foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a change in control event within the meaning of Section 409A.

Further and for the avoidance of doubt, a transaction will not constitute a Change in Control if: (x) its sole purpose is to change the jurisdiction of the Company's incorporation, or (y) its

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sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Company's securities immediately before such transaction, or (z) the Change in Control occurs by virtue of: (1) any acquisition of additional securities of the Company or voting power with respect thereto by Beck or a Permitted Entity of Beck, including as a result of a Permitted Transfer or in connection with a transaction or issuance (including pursuant to outstanding Company equity awards) or any other transaction approved by the Administrator, or (2) any acquisition or disposition of shares of Class B Common Stock by Beck or any Permitted Entity of Beck or change in the total voting power of the capital stock of the Company held by Beck and Beck's Permitted Entities as a result of (i) the conversion of any shares of Class B Common Stock into shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6"<u>Charter</u>" means the Amended and Restated Certificate of Incorporation of the Company effective within one week after the Registration Date, as it may thereinafter be amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7"<u>Class B Common Stock</u>" has the meaning set forth in the Charter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8"<u>Code</u>" means the U.S. Internal Revenue Code of 1986, as amended. Reference to a specific section of the Code or regulation thereunder will include such section or regulation, any valid regulation or other formal guidance of general or direct applicability promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such section or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9"<u>Committee</u>" means a committee of the Board appointed in accordance with Section 4 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10"<u>Common Stock</u>" means the Class A common stock of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11"<u>Company</u>" means Gloo Holdings, Inc., a Delaware corporation, or any successor thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12"<u>Compensation</u>" means a measure to be determined by the Administrator. The Administrator, in its discretion, may, on a uniform and nondiscriminatory basis, establish a different definition of Compensation for a subsequent Offering Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13"<u>Contributions</u>" means the payroll deductions and other additional payments that the Company may permit to be made by a Participant to fund the exercise of options granted pursuant to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14"<u>Designated Company</u>" means any Subsidiary or affiliate of the Company that has been designated by the Administrator from time to time in its sole discretion as eligible to participate in the Plan. For purposes of the 423 Component, only the Company and its Subsidiaries may be Designated Companies, provided, however that at any given time, a Subsidiary or affiliate of the Company that is a Designated Company under the 423 Component will not be a Designated Company under the Non-423 Component.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15"<u>Director</u>" means a member of the Board.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.16"<u>Eligible Employee</u>" means any individual who is a common law employee providing services to the Company or a Designated Company and is customarily employed for at least twenty (20) hours per week and more than five (5) months in any calendar year by the Employer, or any lesser number of hours per week and/or number of months in any calendar year established by the Administrator (if required under Applicable Laws) for purposes of any separate Offering or for Participants in the Non-423 Component. For purposes of the Plan, the employment relationship will be treated as continuing intact while the individual is on sick leave or other leave of absence that the Employer approves or is legally protected under Applicable Laws with respect to the Participant's participation in the Plan. Where the period of leave exceeds three (3) months and the individual's right to reemployment is not guaranteed either by statute or by contract, the employment relationship will be deemed to have terminated three (3) months and one (1) day following the commencement of such leave. The Administrator, in its discretion, from time to time may, prior to an Enrollment Date for all options to be granted on such Enrollment Date in an Offering, determine (for each Offering under the 423 Component, on a uniform and nondiscriminatory basis or as otherwise permitted by U.S. Treasury Regulations Section 1.423-2) that the definition of Eligible Employee will or will not include an individual if he or she: (a) has not completed at least two (2) years of service since his or her last hire date (or such lesser period of time as may be determined by the Administrator in its discretion), (b) customarily works not more than twenty (20) hours per week (or such lesser period of time as may be determined by the Administrator in its discretion), (c) customarily works not more than five (5) months per calendar year (or such lesser period of time as may be determined by the Administrator in its discretion), (d) is a highly compensated employee within the meaning of Code Section 414(q), or (e) is a highly compensated employee within the meaning of Code Section 414(q) with compensation above a certain level or is an officer or subject to the disclosure requirements of Section 16(a) of the Exchange Act, provided the exclusion is applied with respect to each Offering under the 423 Component in an identical manner to all highly compensated individuals of the Employer whose employees are participating in that Offering. Each exclusion will be applied with respect to an Offering under the 423 Component in a manner complying with U.S. Treasury Regulations Section 1.423-2(e)(2)(ii). Such exclusions may be applied with respect to an Offering under the Non-423 Component without regard to the limitations of U.S. Treasury Regulations Section 1.423-2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.17"<u>Employer</u>" means the employer of the applicable Eligible Employee(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.18"<u>Enrollment Date</u>" means the first Trading Day of each Offering Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19"<u>Exchange Act</u>" means the U.S. Securities Exchange Act of 1934, as amended, including the rules and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20"<u>Exercise Date</u>" means such dates on which each outstanding option granted under the Plan will be exercised (except if the Plan has been terminated), as may be determined by the Administrator, in its sole discretion and on a uniform and nondiscriminatory basis from time to time prior to an Enrollment Date for all options to be granted on such Enrollment Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.21"<u>Fair Market Value</u>" means, as of any date and unless the Administrator determines otherwise, the value of a share of Common Stock determined as follows:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the New York Stock Exchange or the Nasdaq Global Select Market, the Nasdaq Global Market, or the Nasdaq Capital Market of The Nasdaq Stock Market, its Fair Market Value will be the closing sales price for such stock (or, if no closing sales price was reported on that date, as applicable, on the last Trading Day such closing sales price was reported) as quoted on such exchange or system on the date of determination, as reported in *The Wall Street Journal* or such other source as the Administrator deems reliable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a share of Common Stock will be the mean between the high bid and low asked prices for the Common Stock on the day of determination (or if no bids and asks were reported on that date, as applicable, on the last Trading Day such bids and asks were reported), as reported in *The Wall Street Journal* or such other source as the Administrator deems reliable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)For purposes of the Enrollment Date of the first Offering Period under the Plan, the Fair Market Value will be the initial price to the public as set forth in the final prospectus included within the registration statement on Form S-1 filed with the Securities and Exchange Commission for the initial public offering of the Common Stock; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)In the absence of an established market for the Common Stock, the Fair Market Value will be determined in good faith by the Administrator.

The determination of fair market value for purposes of tax withholding may be made in the Administrator's discretion subject to Applicable Laws and is not required to be consistent with the determination of Fair Market Value for other purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.22"<u>Fiscal Year</u>" means the fiscal year of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.23"<u>New Exercise Date</u>" means a new Exercise Date if the Administrator shortens any Offering Period then in progress.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.24"<u>Offering</u>" means an offer under the Plan of an option that may be exercised during an Offering Period as further described in Section 6. For purposes of the Plan, the Administrator may designate separate Offerings under the Plan (the terms of which need not be identical) in which Eligible Employees of one or more Employers will participate, even if the dates of the applicable Offering Periods of each such Offering are identical and the provisions of the Plan will separately apply to each Offering. To the extent permitted by U.S. Treasury Regulations Section 1.423-2(a)(1), the terms of each Offering need not be identical provided that the terms of the Plan and an Offering together satisfy U.S. Treasury Regulations Section 1.423-2(a)(2) and (a)(3).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25"<u>Offering Periods</u>" means certain periods during which shares of Common Stock may be purchased under the Plan that will be determined by the Administrator. The duration and timing of Offering Periods may be changed pursuant to Sections 6, 18 and 28.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.26"<u>Parent</u>" means a "<u>parent corporation,</u>" whether now or hereafter existing, as defined in Code Section 424(e).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.27"<u>Participant</u>" means an Eligible Employee that participates in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.28"<u>Permitted Entity</u>" has the meaning set forth in the Charter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.29"<u>Permitted Transfer</u>" has the meaning set forth in the Charter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30"<u>Plan</u>" means this Gloo Holdings, Inc. 2025 Employee Stock Purchase Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.31"<u>Purchase Period</u>" means the period, as determined by the Administrator in its discretion on a uniform and nondiscriminatory basis, commencing on the Enrollment Date and ending with the next Exercise Date, except that if the Administrator determines that more than one Purchase Period should occur within an Offering Period, subsequent Purchase Periods within such Offering Period commence after one Exercise Date and end with the next Exercise Date at such time or times as the Administrator determines prior to the commencement of the applicable Offering Period. Unless otherwise determined by the Administrator, a Purchase Period shall have the same duration as the Offering Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.32"<u>Purchase Price</u>" means the price per share of Common Stock purchased under any option granted under the Plan as determined by the Administrator from time to time, in its discretion and on a uniform and nondiscriminatory basis for all options to be granted on an Enrollment Date. However, in no event will the Purchase Price be less than eighty-five percent (85%) of the lower of the Fair Market Value of a share of Common Stock on the Enrollment Date or the Fair Market Value of a share of Common Stock on the Exercise Date and at all times in compliance with Code Section 423 (or any successor rule or provision or any other Applicable Law, regulation or stock exchange rule) or pursuant to Section 18.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.33"<u>Registration Date</u>" means the effective date of the first registration statement that is filed by the Company and declared effective pursuant to Section 12(b) of the Exchange Act, with respect to any class of the Company's securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.34"<u>Section 409A</u>" means Code Section 409A and the U.S. Treasury Regulations and guidance thereunder, and any applicable state law equivalent, as each may be promulgated, amended or modified from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.35"<u>Subsidiary</u>" means a "subsidiary corporation," whether now or hereafter existing, as defined in Code Section 424(f).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.36"<u>Trading Day</u>" means a day that the primary stock exchange, national market system, or other trading platform, as applicable, upon which the Common Stock is listed (or otherwise trades regularly, as determined by the Administrator, in its sole discretion) is open for trading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.37"<u>U.S. Treasury Regulations</u>" means the Treasury Regulations of the Code. Reference to a specific Treasury Regulation or Section of the Code will include such Treasury Regulation or Section, any valid regulation promulgated under such Section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such Section or regulation.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Stock</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1<u>Stock Subject to the Plan</u>. Subject to adjustment upon changes in capitalization of the Company as provided in Section 17 hereof, the maximum number of shares of Common Stock that will be made available for sale under the Plan will be equal to 500,000 shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2<u>Automatic Share Reserve Increase</u>. Subject to adjustment upon changes in capitalization of the Company as provided in Section 17 hereof, the number of shares of Common Stock available for issuance under the Plan will be increased on the first day of each Fiscal Year beginning with the Fiscal Year following the Fiscal Year in which the first Enrollment Date (if any) occurs equal to the least of (a) 4,400,000 shares of Common Stock, (b) three percent (3%) of the outstanding shares of Common Stock on the last day of the immediately preceding Fiscal Year, or (c) such number of shares of Common Stock determined by the Board no later than the last day of the immediately preceding Fiscal Year. The shares of Common Stock may be authorized, but unissued, or reacquired Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Administration</u>. The Plan will be administered by the Board or a Committee appointed by the Board, which Committee will be constituted to comply with Applicable Laws. The Administrator will have full and exclusive discretionary authority to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)construe, interpret and apply the terms of the Plan,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)delegate ministerial duties to any of the Company's employees,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)designate separate Offerings under the Plan,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)designate Subsidiaries and affiliates as participating in the 423 Component or Non-423 Component,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)determine eligibility,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)adjudicate all disputed claims filed under the Plan, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)establish such procedures that it deems necessary or advisable for the administration of the Plan (including, without limitation, to adopt such procedures, sub-plans, and appendices to the enrollment agreement as are necessary or appropriate to permit the participation in the Plan by employees who are foreign nationals or employed outside the U.S., the terms of which sub-plans and appendices may take precedence over other provisions of this Plan, with the exception of Section 3 hereof, but unless otherwise superseded by the terms of such sub-plan or appendix, the provisions of this Plan will govern the operation of such sub-plan or appendix). Unless otherwise determined by the Administrator, the Eligible Employees eligible to participate in each sub-plan will participate in a separate Offering under the 423 Component, or if the terms would not qualify under the 423 Component, in the Non-423 Component, in either case unless such designation would cause the 423 Component to violate the requirements of Code Section 423.

Without limiting the generality of the foregoing, the Administrator is specifically authorized to adopt rules and procedures regarding eligibility to participate, the definition of

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Compensation, handling of Contributions, making of Contributions to the Plan (including, without limitation, in forms other than payroll deductions), establishment of bank or trust accounts to hold Contributions, payment of interest, conversion of local currency, obligations to pay payroll tax, determination of beneficiary designation requirements, withholding procedures and handling of stock certificates that vary with applicable local requirements. The Administrator also is authorized to determine that, to the extent permitted by U.S. Treasury Regulations Section 1.423-2(f), the terms of an option granted under the Plan or an Offering to citizens or residents of a non-U.S. jurisdiction will be less favorable than the terms of options granted under the Plan or the same Offering to employees resident solely in the U.S. Every finding, decision and determination made by the Administrator will, to the full extent permitted by law, be final and binding upon all parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>Eligibility</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1<u>Generally</u>. Any individual who is an Eligible Employee on a given Enrollment Date will be eligible to participate in the Plan, subject to the requirements of Section 7.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2<u>Non-U.S. Employees</u>. Eligible Employees who are citizens or residents of a non-U.S. jurisdiction (without regard to whether they also are citizens or residents of the United States or resident aliens (within the meaning of Code Section 7701(b)(1)(A))) may be excluded from participation in the Plan or an Offering if the participation of such Eligible Employees is prohibited under the laws of the applicable jurisdiction or if complying with the laws of the applicable jurisdiction would cause the Plan or an Offering to violate Code Section 423. In the case of the Non-423 Component, an Eligible Employee may be excluded from participation in the Plan or an Offering if the Administrator has determined that participation of such Eligible Employee is not advisable or practicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3<u>Limitations</u>. Any provisions of the Plan to the contrary notwithstanding, no Eligible Employee will be granted an option under the Plan (a) to the extent that, immediately after the grant, such Eligible Employee (or any other person whose stock would be attributed to such Eligible Employee pursuant to Code Section 424(d)) would own capital stock of the Company or any Parent or Subsidiary of the Company and/or hold outstanding options to purchase such stock possessing five percent (5%) or more of the total combined voting power or value of all classes of the capital stock of the Company or of any Parent or Subsidiary of the Company, or (b) to the extent that his or her rights to purchase stock under all employee stock purchase plans (as defined in Code Section 423) of the Company or any Parent or Subsidiary of the Company accrues at a rate, which exceeds twenty-five thousand dollars ($25,000) worth of stock (determined at the Fair Market Value of the stock at the time such option is granted) for each calendar year in which such option is outstanding at any time, as determined in accordance with Code Section 423 and the regulations thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.<u>Offering Periods</u>. Offering Periods will be periods, as will be determined by the Administrator from time to time, in its discretion and on a uniform and nondiscriminatory basis, prior to an Enrollment Date for all options to be granted on such Enrollment Date. The Administrator will have the power to change the duration of Offering Periods (including the commencement dates thereof) with respect to future Offerings without stockholder approval if such change is announced prior to the scheduled beginning of the Offering Period to be affected thereafter; provided, however, that no Offering Period may last more than twenty-seven (27) months.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.<u>Participation</u>. An Eligible Employee may participate in the Plan pursuant to Section 5.1 by (a) submitting to the Company's stock administration office (or its designee), a properly completed subscription agreement authorizing Contributions in the form provided by the Administrator for such purpose, or (b) following an electronic or other enrollment procedure determined by the Administrator, in either case, on or before a date determined by the Administrator prior to an applicable Enrollment Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.<u>Contributions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1<u>Contribution Amounts</u>. At the time a Participant enrolls in the Plan pursuant to Section 7, he or she will elect to have Contributions (in the form of payroll deductions or otherwise, to the extent permitted by the Administrator) made on each pay day during the Offering Period in an amount not exceeding fifteen percent (15%) of the Compensation, which he or she receives on each pay day during the Offering Period; provided, however, that should a pay day occur on an Exercise Date, a Participant will have any Contributions made on such day applied to his or her account under the then-current Purchase Period or Offering Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2<u>Contribution Methods</u>. The Administrator, in its sole discretion, may permit all Participants in a specified Offering to contribute amounts to the Plan through payment by cash, check or other means set forth in the subscription agreement prior to each Exercise Date of each Offering Period. A Participant's subscription agreement will remain in effect for successive Offering Periods unless terminated as provided in Section 12 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)In the event Contributions are made in the form of payroll deductions, such payroll deductions for a Participant will commence on the first pay day following the Enrollment Date and will end on the last pay day on or prior to the last Exercise Date of such Offering Period to which such authorization is applicable, unless sooner terminated by the Participant as provided in Section 12 hereof; provided, however, that for the first Offering Period, payroll deductions will commence on the first pay day on or following the end of the period between the Registration Date and a date that is no later than ten (10) business days following the Registration Date, or such other date as the Administrator may determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)All Contributions made for a Participant will be credited to his or her account under the Plan and Contributions will be made in whole percentages of his or her Compensation only. A Participant may not make any additional payments into such account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3<u>Participant Changes to Contributions</u>. A Participant may discontinue his or her participation in the Plan as provided under Section 12. Until and unless determined otherwise by the Administrator, in its sole discretion, during any Offering Period, a Participant may only increase or decrease his or her contributions in a number of times and to the extent determined by the Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)A Participant may make a Contribution rate adjustment pursuant to this Section 8.3 by (A) properly completing and submitting to the Company's stock administration office (or its designee), a new subscription agreement authorizing the change in Contribution rate in the form provided by the Administrator for such purpose, or (B) following an electronic or other procedure

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prescribed by the Administrator, in either case, on or before a date determined by the Administrator prior to (x) the scheduled beginning of the Offering Period to be affected or (y) an applicable Exercise Date, as applicable. If a Participant has not followed such procedures to change the rate of Contributions, the rate of his or her Contributions will continue at the originally elected rate throughout the Offering Period and future Offering Periods (unless the Participant's participation is terminated as provided in Sections 12 or 13).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)The Administrator may, in its sole discretion, limit or amend the nature and/or number of Contribution rate changes (including to permit, prohibit and/or limit increases and/or decreases to rate changes) that may be made by Participants during any Purchase Period or Offering Period, and may establish such other conditions or limitations as it deems appropriate for Plan administration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)Any change in Contribution rate made pursuant to this Section 8.3 will be effective as of the first full payroll period following five (5) business days after the date on which the change is made by the Participant (unless the Administrator, in its sole discretion, elects to process a given change in Contribution rate earlier).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4<u>Other Contribution Changes</u>. Notwithstanding the foregoing, to the extent necessary to comply with Code Section 423(b)(8) and Section 5.3 hereof (which generally limit participation in an Offering Period pursuant to certain Applicable Laws), a Participant's Contributions may be decreased to zero percent (0%) by the Administrator at any time during an Offering Period (or a Purchase Period, as applicable). Subject to Code Section 423(b)(8) and Section 5.3 hereof, Contributions will recommence at the rate originally elected by the Participant effective as of the beginning of the first Offering Period (or Purchase Period, as applicable) scheduled to end in the following calendar year, unless the Participant's participation has terminated as provided in Sections 12 or 13.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5<u>Cash Contributions</u>. Notwithstanding any provisions to the contrary in the Plan, the Administrator may allow Participants to participate in the Plan via cash contributions instead of payroll deductions if (a) payroll deductions are not permitted or advisable under Applicable Laws, (b) the Administrator determines that cash contributions are permissible for Participants participating in the 423 Component and/or (c) the Participants are participating in the Non-423 Component.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6<u>Tax Withholdings</u>. At the time the option is exercised, in whole or in part, or at the time some or all of the Common Stock issued under the Plan is disposed of (or at any other time that a taxable event related to the Plan occurs), the Participant must make adequate provision for the Company's or Employer's federal, state, local or any other tax liability payable to any authority including taxes imposed by jurisdictions outside of the U.S., national insurance, social security or other tax withholding or payment on account obligations, if any, which arise upon the exercise of the option or the disposition of the Common Stock (or any other time that a taxable event related to the Plan occurs). At any time, the Company or the Employer may, but will not be obligated to, withhold from the Participant's compensation the amount necessary for the Company or the Employer to meet applicable withholding obligations, including any withholding required to make available to the Company or the Employer any tax deductions or benefits attributable to the sale or early disposition of Common Stock by the Eligible Employee. In addition, the Company or the Employer may, but will

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not be obligated to, withhold from the proceeds of the sale of Common Stock or use any other method of withholding the Company or the Employer deems appropriate to the extent permitted by U.S. Treasury Regulations Section 1.423-2(f).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7<u>Use of Funds</u>. The Company may use all Contributions received or held by it under the Plan for any corporate purpose, and the Company will not be obligated to segregate such Contributions except under Offerings or for Participants in the Non-423 Component for which Applicable Laws require that Contributions to the Plan by Participants be segregated from the Company's general corporate funds and/or deposited with an independent third party, provided that, if such segregation or deposit with an independent third party is required by Applicable Laws, it will apply to all Participants in the relevant Offering under the 423 Component, except to the extent otherwise permitted by U.S. Treasury Regulations Section 1.423-2(f). Until shares of Common Stock are issued, Participants will have only the rights of an unsecured creditor with respect to such shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.<u>Grant of Option</u>. On the Enrollment Date of each Offering Period, each Eligible Employee participating in such Offering Period will be granted an option to purchase on each Exercise Date during such Offering Period (at the applicable Purchase Price) up to a number of shares of Common Stock determined by dividing such Eligible Employee's Contributions accumulated prior to such Exercise Date and retained in the Eligible Employee's account as of the Exercise Date by the applicable Purchase Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1<u>Certain Option Limits</u>. In no event will an Eligible Employee be permitted to purchase during each Offering Period more than a maximum number of shares of Common Stock to be determined by the Administrator (subject to any adjustment pursuant to Section 17), and provided further that such purchase will be subject to the limitations set forth in Sections 3 and 5.3 and in the subscription agreement. For future Offering Periods, the Administrator, in its absolute discretion, may increase or decrease the maximum number of shares of Common Stock that an Eligible Employee may purchase during each Purchase Period or Offering Period, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2<u>Option Receipt</u>. The Eligible Employee may accept the grant of such option by submitting a properly completed subscription agreement in accordance with the requirements of Section 7.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3<u>Option Term</u>. Exercise of the option will occur as provided in Section 10, unless the Participant's participation has terminated pursuant to Sections 12 or 13. The option will expire on the last day of the Offering Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.<u>Exercise of Option</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1<u>Automatic Exercise</u>. Unless a Participant's participation in the Plan has terminated as provided in Sections 12 and 13, his or her option for the purchase of shares of Common Stock will be exercised automatically on the Exercise Date, and the maximum number of full shares subject to the option will be purchased for such Participant at the applicable Purchase Price with the accumulated Contributions from his or her account. No fractional shares of Common Stock will be purchased; any Contributions accumulated in a Participant's account, which are not sufficient to purchase a full share will be retained in the Participant's account for the subsequent Purchase Period

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or Offering Period, as applicable, subject to earlier withdrawal by the Participant as provided in Sections 12 or 13. Any other funds left over in a Participant's account after the Exercise Date will be returned to the Participant. During a Participant's lifetime, a Participant's option to purchase shares of Common Stock hereunder is exercisable only by him or her.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2<u>Pro Rata Allocations</u>. If the Administrator determines that, on a given Exercise Date, the number of shares of Common Stock with respect to which options are to be exercised may exceed (a) the number of shares of Common Stock that were available for sale under the Plan on the Enrollment Date of the applicable Offering Period, or (b) the number of shares of Common Stock available for sale under the Plan on such Exercise Date, the Administrator may in its sole discretion (x) provide that the Company will make a pro rata allocation of the shares of Common Stock available for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as will be practicable and as it will determine in its sole discretion to be equitable among all Participants exercising options to purchase Common Stock on such Exercise Date, and continue all Offering Periods then in effect or (y) provide that the Company will make a pro rata allocation of the shares of Common Stock available for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as will be practicable and as it will determine in its sole discretion to be equitable among all participants exercising options to purchase Common Stock on such Exercise Date, and terminate any or all Offering Periods then in effect pursuant to Section 18. The Company may make a pro rata allocation of the shares of Common Stock available on the Enrollment Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional shares of Common Stock for issuance under the Plan by the Company's stockholders subsequent to such Enrollment Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.<u>Delivery</u>. As soon as reasonably practicable after each Exercise Date on which a purchase of shares of Common Stock occurs, the Company will arrange the delivery to each Participant of the shares purchased upon exercise of his or her option in a form determined by the Administrator (in its sole discretion) and pursuant to rules established by the Administrator. The Company may permit or require that shares be deposited directly with a broker designated by the Company or with a trustee or designated agent of the Company, and the Company may utilize electronic or automated methods of share transfer. The Company may require that shares be retained with such broker, trustee or agent for a designated period of time and/or may establish other procedures to permit tracking of disqualifying dispositions or other dispositions of such shares. No Participant will have any voting, dividend, or other stockholder rights with respect to shares of Common Stock subject to any option granted under the Plan until such shares have been purchased and delivered to the Participant as provided in this Section 11.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.<u>Withdrawal</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1<u>Withdrawal Procedures</u>. A Participant may withdraw all but not less than all the Contributions credited to his or her account and not yet used to exercise his or her option under the Plan at any time by (a) submitting to the Company's stock administration office (or its designee) a written notice of withdrawal in the form determined by the Administrator for such purpose (which may be similar to the form attached hereto as <u>Exhibit B</u>), or (b) following an electronic or other withdrawal procedure determined by the Administrator. The Administrator may set forth a deadline of when a withdrawal must occur to be effective prior to a given Exercise Date in accordance with

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policies it may approve from time to time. All of the Participant's Contributions credited to his or her account will be paid to such Participant as soon as administratively practicable after receipt of notice of withdrawal and such Participant's option for the Offering Period will be automatically terminated, and no further Contributions for the purchase of shares will be made for such Offering Period. If a Participant withdraws from an Offering Period, Contributions will not resume at the beginning of the succeeding Offering Period, unless the Participant re-enrolls in the Plan in accordance with the provisions of Section 7.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2<u>No Effect on Future Participation</u>. A Participant's withdrawal from an Offering Period will not have any effect upon his or her eligibility to participate in any similar plan that may hereafter be adopted by the Company or in succeeding Offering Periods that commence after the termination of the Offering Period from which the Participant withdraws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.<u>Termination of Employment</u>. Upon a Participant's ceasing to be an Eligible Employee, for any reason, he or she will be deemed to have elected to withdraw from the Plan and the Contributions credited to such Participant's account during the Offering Period but not yet used to purchase shares of Common Stock under the Plan will be returned to such Participant, or, in the case of his or her death, to the person or persons entitled thereto, and such Participant's option will be automatically terminated. Unless determined otherwise by the Administrator in a manner that, with respect to an Offering under the 423 Component, is permitted by, and compliant with, Code Section 423, a Participant whose employment transfers between entities through a termination with an immediate rehire (with no break in service) by the Company or a Designated Company will not be treated as terminated under the Plan; however, if a Participant transfers from an Offering under the 423 Component to the Non-423 Component, the exercise of the option will be qualified under the 423 Component only to the extent it complies with Code Section 423; further, no Participant will be deemed to switch from an Offering under the Non-423 Component to an Offering under the 423 Component or vice versa unless (and then only to the extent) such switch would not cause the 423 Component or any option thereunder to fail to comply with Code Section 423.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.<u>Section 409A</u>. The Plan is intended to be exempt from the application of Section 409A, and, to the extent not exempt, is intended to comply with Section 409A and any ambiguities herein will be interpreted to so be exempt from, or comply with, Section 409A. In furtherance of the foregoing and notwithstanding any provision in the Plan to the contrary, if the Administrator determines that an option granted under the Plan may be subject to Section 409A or that any provision in the Plan would cause an option under the Plan to be subject to Section 409A, the Administrator may amend the terms of the Plan and/or of an outstanding option granted under the Plan, or take such other action the Administrator determines is necessary or appropriate, in each case, without the Participant's consent, to exempt any outstanding option or future option that may be granted under the Plan from or to allow any such options to comply with Section 409A, but only to the extent any such amendments or action by the Administrator would not violate Section 409A. Notwithstanding the foregoing, the Company and any of its Parent or Subsidiaries will have no liability, obligation or responsibility to reimburse, indemnify, or hold harmless a Participant or any other party if the option to purchase Common Stock under the Plan that is intended to be exempt from or compliant with Section 409A is not so exempt or compliant or for any action taken by the Administrator with respect thereto. The Company makes no representation that the option to purchase Common Stock under the Plan is compliant with Section 409A.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.<u>Rights as Stockholder</u>. Until the shares of Common Stock are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), a Participant will have only the rights of an unsecured creditor with respect to such shares, and no right to vote or receive dividends or any other rights as a stockholder will exist with respect to such shares. Shares of Common Stock to be delivered to a Participant under the Plan will be registered in the name of the Participant or, if so required under Applicable Laws, in the name of the Participant and his or her spouse.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.<u>Transferability</u>. Neither Contributions credited to a Participant's account nor any rights with regard to the exercise of an option or to receive shares of Common Stock under the Plan may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will or the laws of descent and distribution) by the Participant. Any such attempt at assignment, transfer, pledge or other disposition will be without effect, except that the Company may treat such act as an election to withdraw funds from an Offering Period in accordance with Section 12 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.<u>Adjustments, Dissolution, Liquidation, Merger or Change in Control</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.1<u>Adjustments</u>. In the event that any dividend or other distribution (whether in the form of cash, Common Stock, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, reclassification, repurchase, or exchange of Common Stock or other securities of the Company, or other change in the corporate structure of the Company affecting the Common Stock occurs (other than any ordinary dividends or other ordinary distributions), the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under the Plan, will adjust the number and class of Common Stock that may be delivered under the Plan, the Purchase Price per share, the class and the number of shares of Common Stock covered by each option under the Plan that has not yet been exercised, and the numerical share limits of Sections 3 and 9.1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.2<u>Dissolution or Liquidation</u>. In the event of the proposed dissolution or liquidation of the Company, any Offering Period then in progress will be shortened by setting a New Exercise Date, and will terminate immediately prior to the consummation of such proposed dissolution or liquidation, unless provided otherwise by the Administrator. The New Exercise Date will be before the date of the Company's proposed dissolution or liquidation. The Administrator will notify each Participant in writing or electronically, prior to the New Exercise Date, that the Exercise Date for the Participant's option has been changed to the New Exercise Date and that the Participant's option will be exercised automatically on the New Exercise Date, unless prior to such date the Participant has withdrawn from the Offering Period as provided in Section 12 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.3<u>Merger or Change in Control</u>. In the event of a merger of the Company with or into another corporation or other entity or Change in Control, each outstanding option will be assumed or an equivalent option substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. In the event that the successor corporation refuses to assume or substitute for the option, the Offering Period with respect to which such option relates will be shortened by setting a New Exercise Date on which such Offering Period will end. The New Exercise Date will occur before the date of the Company's proposed merger or Change in Control. The Administrator will notify each Participant in writing or electronically prior to the New Exercise Date, that the Exercise

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Date for the Participant's option has been changed to the New Exercise Date and that the Participant's option will be exercised automatically on the New Exercise Date, unless prior to such date the Participant has withdrawn from the Offering Period as provided in Section 12 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.<u>Amendment or Termination</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.1<u>Amendment, Suspension, Termination</u>. The Administrator, in its sole discretion, may amend, suspend, or terminate the Plan, or any part thereof, at any time and for any reason. If the Plan is terminated, the Administrator, in its discretion, may elect to terminate all outstanding Offering Periods either immediately or upon completion of the purchase of shares of Common Stock on the next Exercise Date (which may be sooner than originally scheduled, if determined by the Administrator in its discretion), or may elect to permit Offering Periods to expire in accordance with their terms (and subject to any adjustment pursuant to Section 17). If the Offering Periods are terminated prior to expiration, all amounts then credited to Participants' accounts that have not been used to purchase shares of Common Stock will be returned to the Participants (without interest thereon, except as otherwise required under Applicable Laws, as further set forth in Section 22 hereof) as soon as administratively practicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.2<u>Certain Administrator Changes</u>. Without stockholder consent and without limiting Section 18.1, the Administrator will be entitled to change the Offering Periods and any Purchase Periods, designate separate Offerings, limit the frequency and/or number of changes in the amount withheld during an Offering Period, establish the exchange rate applicable to amounts withheld in a currency other than U.S. dollars, permit Contributions in excess of the amount designated by a Participant in order to adjust for delays or mistakes in the Company's processing of properly completed Contribution elections, establish reasonable waiting and adjustment periods and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of Common Stock for each Participant properly correspond with Contribution amounts, and establish such other limitations or procedures as the Administrator determines in its sole discretion advisable that are consistent with the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.3<u>Changes Due to Accounting Consequences</u>. In the event the Administrator determines that the ongoing operation of the Plan may result in unfavorable financial accounting consequences, the Administrator may, in its discretion and, to the extent necessary or desirable, modify, amend or terminate the Plan to reduce or eliminate such accounting consequence including, but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)amending the Plan to conform with the safe harbor definition under the Financial Accounting Standards Board Accounting Standards Codification Topic 718 (or any successor thereto), including with respect to an Offering Period underway at the time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)altering the Purchase Price for any Purchase Period or Offering Period including a Purchase Period or Offering Period underway at the time of the change in Purchase Price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)shortening any Purchase Period or Offering Period by setting a New Exercise Date, including a Purchase Period or Offering Period underway at the time of the Administrator action;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)reducing the maximum percentage of Compensation a Participant may elect to set aside as Contributions; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)reducing the maximum number of shares of Common Stock a Participant may purchase during any Purchase Period or Offering Period.

Such modifications or amendments will not require stockholder approval or the consent of any Participants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.<u>Conditions Upon Issuance of Shares</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.1<u>Legal Compliance</u>. Shares of Common Stock will not be issued with respect to an option unless the exercise of such option and the issuance and delivery of such shares pursuant thereto will comply with Applicable Laws and will be further subject to the approval of counsel for the Company with respect to such compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.2<u>Investment Representations</u>. As a condition to the exercise of an option, the Company may require the person exercising such option to represent and warrant at the time of any such exercise that the shares are being purchased only for investment and without any present intention to sell or distribute such shares if, in the opinion of counsel for the Company, such a representation is required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.<u>Term of Plan</u>. The Plan will become effective upon the later to occur of (a) its adoption by the Board or (b) the business day immediately prior to the Registration Date. It will continue in effect for a term of twenty (20) years, unless sooner terminated under Section 18, provided that Section 3.2 relating to automatic share reserve increases will operate only until the ten (10) year anniversary of the earlier of the Board or stockholder approval of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.<u>Stockholder Approval</u>. The Plan will be subject to approval by the stockholders of the Company within twelve (12) months after the date the Plan is adopted by the Board. Such stockholder approval will be obtained in the manner and to the degree required under Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.<u>Interest</u>. No interest will accrue on the Contributions of a participant in the Plan, except as may be required by Applicable Laws, as determined by the Company, and if so required by the laws of a particular jurisdiction, will apply, with respect to Offerings under the 423 Component, to all Participants in the relevant Offering, except to the extent otherwise permitted by U.S. Treasury Regulations Section 1.423-2(f).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.<u>No Effect on Employment</u>. Neither the Plan nor any option under the Plan will confer upon any Participant any right with respect to continuing the Participant's employment with the Company or its Subsidiaries or Parents, as applicable, nor will they interfere in any way with the Participant's right or the right of the Company and its Subsidiaries or Parents, as applicable, to terminate such employment relationship at any time, free from any liability or any claim under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.<u>Reports</u>. Individual accounts will be maintained for each Participant in the Plan. Statements of account will be given to participating Eligible Employees at least annually, which

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statements will set forth the amounts of Contributions, the Purchase Price, the number of shares of Common Stock purchased and the remaining cash balance, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.<u>Notices</u>. All notices or other communications by a Participant to the Company under or in connection with the Plan will be deemed to have been duly given when received in the form and manner specified by the Company at the location, or by the person, designated by the Company for the receipt thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.<u>Legal Construction</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.1<u>Gender and Number</u>. Except where otherwise indicated by the context, any feminine term used herein also will include the masculine and any masculine term used herein also will include the feminine; the plural will include the singular and the singular will include the plural.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.2<u>Severability</u>. If any provision of the Plan is or becomes or is deemed to be invalid, illegal, or unenforceable for any reason in any jurisdiction or as to any Participant, such invalidity, illegality, or unenforceability will not affect the remaining parts of the Plan, and the Plan will be construed and enforced as to such jurisdiction or Participant as if the invalid, illegal, or unenforceable provision had not been included.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.3<u>Governing Law</u>. The Plan will be governed by, and construed in accordance with, the laws of the State of Delaware, but without regard to its conflict of law provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.4<u>Headings</u>. Headings are provided herein for convenience only, and will not serve as a basis for interpretation of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.<u>Compliance with Applicable Laws</u>. The terms of this Plan are intended to comply with all Applicable Laws and will be construed accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.<u>Automatic Transfer to Low Price Offering Period</u>. Unless determined otherwise by the Administrator, this Section 28 applies to an Offering Period to the extent such Offering Period provides for more than one (1) Exercise Date within such Offering Period. To the extent permitted by Applicable Laws, if the Fair Market Value of a share of Common Stock on any Exercise Date in an Offering Period is less than the Fair Market Value of a share of Common Stock on the Enrollment Date of such Offering Period, then all Participants in such Offering Period will be withdrawn automatically from such Offering Period immediately after the exercise of their option on such Exercise Date and automatically re-enrolled in the immediately following Offering Period as of the first day thereof.

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**<u>EXHIBIT A</u>**

**GLOO HOLDINGS, INC.**

**2025 EMPLOYEE STOCK PURCHASE PLAN**

**SUBSCRIPTION AGREEMENT**

_____ Original Application Offering Date: _________________

_____ Change in Payroll Deduction Rate

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.____________________ hereby elects to participate in the Gloo Holdings, Inc. 2025 Employee Stock Purchase Plan (the "<u>Plan</u>") and subscribes to purchase shares of the Company's Common Stock in accordance with this Subscription Agreement and the Plan. Any capitalized terms not specifically defined in this Subscription Agreement will have the meaning ascribed to them under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.I hereby authorize and consent to payroll deductions from each paycheck in the amount of ____% of my Compensation on each payday (from 0% to 15%) during the Offering Period in accordance with the Plan. (Please note that no fractional percentages are permitted.) I understand that only my first, one election to decrease the rate of my payroll deductions may be applied with respect to an ongoing Offering Period in accordance with the terms of the Plan, and any subsequent election to decrease the rate of my payroll deductions during the same Offering Period, and any election to increase the rate of my payroll deductions during any Offering Period, will not be applied to the ongoing Offering Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.I understand that said payroll deductions will be accumulated for the purchase of shares of Common Stock at the applicable Purchase Price determined in accordance with the Plan. I understand that if I do not withdraw from an Offering Period, any accumulated payroll deductions will be used to automatically exercise my option and purchase Common Stock under the Plan. I further understand that if I am outside of the U.S., my payroll deductions will be converted to U.S. dollars at an exchange rate selected by the Company on the purchase date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.I have received a copy of the complete Plan and its accompanying prospectus. I understand that my participation in the Plan is in all respects subject to the terms of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.Shares of Common Stock purchased for me under the Plan should be issued in the name(s) of _____________ (Eligible Employee or Eligible Employee and spouse only).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.If I am a U.S. taxpayer, I understand that if I dispose of any shares received by me pursuant to the Plan within two (2) years after the Offering Date (the first day of the Offering Period during which I purchased such shares) or one (1) year after the Exercise Date, I will be treated for

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federal income tax purposes as having received ordinary income at the time of such disposition in an amount equal to the excess of the fair market value of the shares at the time such shares were purchased by me over the price that I paid for the shares. <u>I hereby agree to notify the Company in writing within thirty (30) days after the date of any disposition of my shares and I will make adequate provision for federal, state or other tax withholding obligations, if any, which arise upon the disposition of the Common Stock</u>. The Company may, but will not be obligated to, withhold from my compensation the amount necessary to meet any applicable withholding obligation including any withholding necessary to make available to the Company any tax deductions or benefits attributable to sale or early disposition of Common Stock by me. If I dispose of such shares at any time after the expiration of the two (2) year and one (1) year holding periods, I understand that I will be treated for federal income tax purposes as having received income only at the time of such disposition, and that such income will be taxed as ordinary income only to the extent of an amount equal to the lesser of (a) the excess of the fair market value of the shares at the time of such disposition over the purchase price which I paid for the shares, or (b) fifteen percent (15%) of the fair market value of the shares on the first day of the Offering Period. The remainder of the gain, if any, recognized on such disposition will be taxed as capital gain.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.For employees that may be subject to tax in non U.S. jurisdictions, I acknowledge and agree that, regardless of any action taken by the Company or any Designated Company with respect to any or all income tax, social security, social insurances, National Insurance Contributions, payroll tax, fringe benefit, or other tax-related items related to my participation in the Plan and legally applicable to me including, without limitation, in connection with the grant of such options, the purchase or sale of shares of Common Stock acquired under the Plan and/or the receipt of any dividends on such shares ("<u>Tax-Related Items</u>"), the ultimate liability for all Tax-Related Items is and remains my responsibility and may exceed the amount actually withheld by the Company or a Designated Company. Furthermore, I acknowledge that the Company and/or any Designated Company (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the options under the Plan and (b) do not commit to and are under no obligation to structure the terms of the grant of options or any aspect of my participation in the Plan to reduce or eliminate my liability for Tax-Related Items or achieve any particular tax result. Further, if I have become subject to tax in more than one jurisdiction between the date of my enrollment and the date of any relevant taxable or tax withholding event, as applicable, I acknowledge that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.

Prior to the purchase of shares of Common Stock under the Plan or any other relevant taxable or tax withholding event, as applicable, I agree to make adequate arrangements satisfactory to the Company and/or the applicable Designated Company to satisfy all Tax-Related Items. In this regard, I authorize the Company and/or the applicable Designated Company, or their respective agents, at their discretion, to satisfy any applicable withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (a) withholding from my wages or Compensation paid to me by the Company and/or the applicable Designated Company; or (b) withholding from proceeds of the sale of the shares of Common Stock purchased under the Plan either through a voluntary sale or through a mandatory sale arranged by the Company (on my behalf pursuant to this authorization).

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Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable maximum withholding rates, in which case I will receive a refund of any over-withheld amount in cash and will have no entitlement to the Common Stock equivalent.

Finally, I agree to pay to the Company or the applicable Designated Company any amount of Tax-Related Items that the Company or the applicable Designated Company may be required to withhold as a result of my participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to purchase shares of Common Stock under the Plan on my behalf and/or refuse to issue or deliver the shares or the proceeds of the sale of shares if I fail to comply with my obligations in connection with the Tax-Related Items.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.By electing to participate in the Plan, I acknowledge, understand and agree that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)the Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time, to the extent provided for in the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)all decisions with respect to future grants under the Plan, if applicable, will be at the sole discretion of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)the grant of options under the Plan will not create a right to employment or be interpreted as forming or amending an employment or service contract with the Company, or any Designated Company, and will not interfere with the ability of the Company or any Designated Company, as applicable, to terminate my employment (if any);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)I am voluntarily participating in the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)the options granted under the Plan and the shares of Common Stock underlying such options, and the income and value of same, are not intended to replace any pension rights or compensation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)the options granted under the Plan and the shares of Common Stock underlying such options, and the income and value of same, are not part of my normal or expected compensation for any purpose, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement benefits or similar payments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)the future value of the shares of Common Stock offered under the Plan is unknown, indeterminable and cannot be predicted with certainty;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)the shares of Common Stock that I acquire under the Plan may increase or decrease in value, even below the Purchase Price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)no claim or entitlement to compensation or damages will arise from the forfeiture of options granted to me under the Plan as a result of the termination of my status as an

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Eligible Employee (for any reason whatsoever, and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where I am employed or the terms of my employment agreement, if any) and, in consideration of the grant of options under the Plan to which I am otherwise not entitled, I irrevocably agree never to institute a claim against the Company, or any Designated Company, waive my ability, if any, to bring such claim, and release the Company, and any Designated Company from any such claim that may arise; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, I will be deemed irrevocably to have agreed to not to pursue such claim and agree to execute any and all documents necessary to request dismissal or withdrawal of such claim; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)in the event of the termination of my status as an Eligible Employee (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where I am employed or the terms of my employment agreement, if any), my right to participate in the Plan and any options granted to me under the Plan, if any, will terminate effective as of the date that I am no longer actively employed by the Company or one of its Designated Companies and, in any event, will not be extended by any notice period mandated under the employment laws in the jurisdiction in which I am employed or the terms of my employment agreement, if any (*e.g.*, active employment would not include a period of "<u>garden leave</u>" or similar period pursuant to the employment laws in the jurisdiction in which I am employed or the terms of my employment agreement, if any); the Company will have the exclusive discretion to determine when I am no longer actively employed for purposes of my participation in the Plan (including whether I may still be considered to be actively employed while on a leave of absence).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.*I understand that the Company and/or any Designated Company may collect, where permissible under applicable law certain personal information about me, including, but not limited to, my name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of Common Stock or directorships held in the Company, details of all options granted under the Plan or any other entitlement to shares of Common Stock awarded, canceled, exercised, vested, unvested or outstanding in my favor ("<u>Data</u>"), for the exclusive purpose of implementing, administering and managing the Plan. I understand that Company may transfer my Data to the United States, which is not considered by the European Commission to have data protection laws equivalent to the laws in my country. I understand that the Company will transfer my Data to its designated broker, or such other stock plan service provider as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan. I understand that the recipients of the Data may be located in the United States or elsewhere, and that a recipient's country of operation (e.g., the United States) may have different, including less stringent, data privacy laws that the European Commission or my jurisdiction does not consider to be equivalent to the protections in my country. I understand that I may request a list with the names and addresses of any potential recipients of the Data by contacting my local human resources representative. I authorize the Company, the Company's designated broker and any other possible recipients which may assist the Company with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing my participation in the Plan. I understand that Data will be held only as long as is necessary to* 

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*implement, administer and manage my participation in the Plan. I understand that that I may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing my local human resources representative. Further, I understand that I am providing the consents herein on a purely voluntary basis. If I do not consent, or if I later seek to revoke my consent, my employment status or career with the Company or any Designated Company will not be adversely affected; the only adverse consequence of refusing or withdrawing my consent is that the Company would not be able to grant me options under the Plan or other equity awards, or administer or maintain such awards. Therefore, I understand that refusing or withdrawing my consent may affect my ability to participate in the Plan. For more information on the consequences of my refusal to consent or withdrawal of consent, I understand that I may contact my local human resources representative.*

*If I am an employee outside the U.S., I understand that in accordance with applicable law, I have the right to access, and to request a copy of, the Data held about me. I also understand that I have the right to discontinue the collection, processing, or use of my Data, or supplement, correct, or request deletion of my Data. To exercise my rights, I may contact my local human resources representative.*

*I hereby explicitly and unambiguously consent to the collection, use and transfer, in electronic or other form, of my personal data as described herein and any other Plan materials by and among, as applicable, the Company and its Subsidiaries for the exclusive purpose of implementing, administering and managing my participation in the Plan. I understand that my consent will be sought and obtained for any processing or transfer of my data for any purpose other than as described in the enrollment form and any other plan materials.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.If I have received the Subscription Agreement or any other document related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control, subject to applicable laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.The provisions of the Subscription Agreement and these appendices are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions nevertheless will be binding and enforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.Notwithstanding any provisions in this Subscription Agreement, I understand that if I am working or resident in a country other than the United States, my participation in the Plan also will be subject to the additional terms and conditions set forth on Appendix A and any special terms and conditions for my country set forth on Appendix A. Moreover, if I relocate to one of the countries included in Appendix A, the special terms and conditions for such country will apply to me to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. Appendix A constitutes part of this Subscription Agreement and the provisions of this Subscription Agreement govern each Appendix (to the extent not superseded or supplemented by the terms and conditions set forth in the applicable Appendix).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.I hereby agree to be bound by the terms of the Plan. The effectiveness of this Subscription Agreement is dependent upon my eligibility to participate in the Plan.

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| |
|:---|
| &nbsp;&nbsp;Employee's Social |
| &nbsp;&nbsp;Security Number |
| &nbsp;&nbsp;(for U.S.-based employees): |
| &nbsp;&nbsp;Employee's Address: |

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I UNDERSTAND THAT THIS SUBSCRIPTION AGREEMENT WILL REMAIN IN EFFECT THROUGHOUT SUCCESSIVE OFFERING PERIODS UNLESS TERMINATED BY ME.

Dated:

Signature of Employee

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**<u>EXHIBIT B</u>**

**GLOO HOLDINGS, INC.**

**2025 EMPLOYEE STOCK PURCHASE PLAN**

**NOTICE OF WITHDRAWAL**

The undersigned Participant in the Offering Period of the Gloo Holdings, Inc. 2025 Employee Stock Purchase Plan (the "<u>Plan</u>") that began on ____________, ______ (the "<u>Offering Date</u>") hereby notifies the Company that he or she hereby withdraws from the Offering Period. He or she hereby directs the Company to pay to the undersigned as promptly as practicable all the payroll deductions credited to his or her account with respect to such Offering Period. The undersigned understands and agrees that his or her option for such Offering Period will be terminated automatically. The undersigned understands further that no further payroll deductions will be made for the purchase of shares in the current Offering Period and the undersigned will be eligible to participate in succeeding Offering Periods only by delivering to the Company a new Subscription Agreement. Capitalized terms not otherwise defined herein will have the meaning ascribed to them under the Plan.

Name and Address of Participant:

Signature:

Date:

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## Exhibit 10.6

**Exhibit 10.6**

**GLOO HOLDINGS, INC.**

**OUTSIDE DIRECTOR COMPENSATION POLICY**

Adopted and approved by the Company's Board of Directors on October 16, 2025

Approved by the Company's stockholders on October 29, 2025

Gloo Holdings, Inc. (the "<u>Company</u>") believes that the granting of equity and cash compensation to members of the Company's Board of Directors (the "<u>Board</u>," and members of the Board, "<u>Directors</u>") represents an effective tool to attract, retain and reward Directors who are not employees of the Company ("<u>Outside Directors</u>"). This Outside Director Compensation Policy (the "<u>Policy</u>") is intended to formalize the Company's policy regarding cash compensation and grants of equity awards to its Outside Directors. Unless otherwise defined herein, capitalized terms used in this Policy will have the meaning given such term in the Company's 2025 Equity Incentive Plan, as amended from time to time, or if such plan no longer is in use at the time of the grant of an equity award, the meaning given such term or similar term in the equity plan then in place under which the equity award is granted (the "<u>Plan</u>"). Each Outside Director will be solely responsible for any tax obligations incurred by such Outside Director as a result of the equity awards and cash and other compensation such Outside Director receives under this Policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Effective Date</u>. This Policy will be effective as of the effective date of the first registration statement that is filed by the Company and declared effective pursuant to Section 12(b) of the U.S. Securities Exchange Act of 1934 (the "<u>Exchange Act</u>"), as amended, with respect to any class of the Company's securities (such date, the "<u>Effective Date</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Cash Compensation</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1<u>Board Member Annual Cash Retainer</u>. Each Outside Director will be paid an annual cash retainer of $100,000. There are no per-meeting attendance fees for attending Board meetings or meetings of any committee of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2<u>Additional Annual Cash Retainers</u>. As of the Effective Date, each Outside Director who serves as the Chair of the Board, or the chair or a member of a committee of the Board, will be eligible to earn additional annual fees as follows:

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| | |
|:---|:---|
| &nbsp;&nbsp;Non-Executive Chair of the Board: | &nbsp;&nbsp;$40000 |
| &nbsp;&nbsp;Audit Committee Chair: | &nbsp;&nbsp;$25000 |
| &nbsp;&nbsp;Audit Committee Member: | &nbsp;&nbsp;$10000 |
| &nbsp;&nbsp;Compensation Committee Chair: | &nbsp;&nbsp;$25000 |
| &nbsp;&nbsp;Compensation Committee Member: | &nbsp;&nbsp;$10000 |
| &nbsp;&nbsp;Nominating and Corporate Governance Committee Chair: | &nbsp;&nbsp;$25000 |
| &nbsp;&nbsp;Nominating and Corporate Governance Committee Member:  | &nbsp;&nbsp;$10000 |

---

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For clarity, each Outside Director who serves as the chair of a committee will receive only the additional annual fee as the chair of the committee and not the additional annual fee as a member of such committee while serving as such chair, provided, that the Outside Director who serves as the Chair of the Board will receive the annual fee for services provided in such role as well as the annual fee as an Outside Director.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3<u>Payment Timing and Proration</u>. Each annual cash retainer (an "<u>Annual Cash Retainer</u>") under this Policy will be paid quarterly in arrears on a prorated basis to each Outside Director who has served in the relevant capacity at any time during the immediately preceding fiscal quarter of the Company ("<u>Fiscal Quarter</u>"), and such payment will be made no later than thirty (30) days following the end of such immediately preceding Fiscal Quarter. For clarity, an Outside Director who has served as an Outside Director, as a member of an applicable committee (or chair thereof) during only a portion of the relevant Fiscal Quarter will receive a prorated payment of the quarterly installment of the applicable Annual Cash Retainer(s), calculated based on the number of days during such Fiscal Quarter such Outside Director has served in the relevant capacities. For clarity, an Outside Director who has served as an Outside Director or as a member of an applicable committee (or chair thereof) from the Effective Date through the end of the Fiscal Quarter containing the Effective Date (the "<u>Initial Period</u>"), as applicable, will receive a prorated payment of the quarterly installment of the applicable Annual Cash Retainer(s), calculated based on the number of days during the Initial Period that such Outside Director has served in the relevant capacities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Equity Compensation</u>. Outside Directors will be eligible to receive all types of Awards (except Incentive Stock Options) under the Plan, including discretionary Awards not covered under this Policy, subject to Section 5 hereof. All grants of Awards to Outside Directors pursuant to Sections 3.2, 3.3, and 3.4 of this Policy will be automatic and nondiscretionary, except as otherwise provided herein, and will be made in accordance with the following provisions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1<u>No Discretion</u>. No person will have any discretion to select which Outside Directors will be granted IPO Awards, Initial Awards, or Annual Awards (each as defined below) under this Policy or to determine the number of Shares to be covered by such Awards (except as provided in Sections 3.5.2 and 10 below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2<u>IPO Awards</u>. Each Outside Director who is a member of the Board on the Effective Date will receive, on the first trading date following the effective date of the first registration statement on Form S-8 that is filed by the Company and declared effective pursuant to Section 12(b) of the Exchange Act following the Effective Date, an Award of Restricted Stock Units (an "<u>IPO Award</u>") covering a number of Shares, with such Award having a grant date fair value equal to $200,000, rounded to the nearest whole share.

## Each IPO Award will vest, as to one-half (½) of the underlying Shares, on the day of the first annual stockholder meeting following the Effective Date (the " <u>First Annual Meeting</u> "), or, if earlier, the one-year anniversary of the grant date and, as to one-half (½) of the underlying Shares, on the day of the second annual stockholder meeting following the Effective Date, or, if earlier, the two-year anniversary of the grant date, subject to the Outside Director remaining a Service Provider through the vesting date.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3<u>Initial Awards</u>. Each individual who first becomes an Outside Director following the Effective Date will receive, on the first trading date on or after the date on which the individual first becomes an Outside Director (the "<u>Initial Start Date</u>"), an Award of Restricted Stock Units (an "<u>Initial Award</u>") covering a number of Shares, with such Award having a grant date fair value equal to $200,000, rounded to the nearest whole Share. If the individual was a member of our Board of Directors and also an employee, becoming an Outside Director due to termination of employment will not entitle the Outside Director to an Initial Award.

## Each Initial Award will vest as to one-half (½) of the underlying Shares on each of the first and second anniversaries of the Initial Start Date, subject to continued service through each relevant vesting date.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4<u>Annual Awards</u>. On the date of each of our annual stockholder meetings following the First Annual Meeting, each Outside Director who is continuing as a director following our annual stockholder meeting automatically will be granted an Award of Restricted Stock Units (an "<u>Annual Award</u>") covering a number of Shares, with such Award having a grant date fair value of $100.000, rounded to the nearest whole Share.

## Each Annual Award will vest on the earlier of the first anniversary of the Award's grant date or the day before the annual stockholder meeting following the date the Annual Award was granted, in each case subject to continued service through each relevant vesting date.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5<u>Additional Terms of IPO Awards, Initial Awards, and Annual Awards</u>. The terms and conditions of each IPO Award, Initial Award, and Annual Award will be as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5.1Each IPO Award, Initial Award, and Annual Award will be granted under and subject to the terms and conditions of the Plan and the applicable form of Award Agreement previously approved by the Board or its Committee, as applicable, for use thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5.2The Board or its Committee, as applicable and in its discretion, may change and otherwise revise the terms of IPO Awards, Initial Awards, and Annual Awards granted pursuant to this Policy, including without limitation the number of Shares subject thereto and type of Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Change in Control</u>. In the event of a Change in Control, all equity awards granted to an Outside Director (including those granted pursuant to our Outside Director Compensation Policy) will fully vest and become immediately exercisable (if applicable) and, with respect to equity awards with performance-based vesting, all performance goals or other vesting criteria will be deemed achieved at 100% of target levels and all other terms and conditions met, unless specifically provided otherwise under the applicable award agreement or other written agreement between the Outside Director and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>Annual Compensation Limit</u>. In any Fiscal Year, no Outside Director may be paid, issued or granted cash compensation and equity awards with a total value of no greater than $750,000 (with the limit increased to $1,000,000 for the initial year of service), with the value of an equity award based on its grant date fair value for purposes of this limit (the "<u>Annual Director Limit</u>"). Any cash compensation paid or equity awards granted to an Outside Director (i) while he or she was an employee

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or consultant (other than an Outside Director) or (ii) on or prior to the Effective Date will not count toward the Annual Director Limit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.<u>Travel Expenses</u>. Each Outside Director's reasonable, customary and properly documented travel expenses to meetings of the Board and any of its committees, as applicable, will be reimbursed by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.<u>Adjustments</u>. In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, reclassification, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares occurs (other than any ordinary dividends or other ordinary distributions), the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under this Policy, will adjust the number and class of the shares of stock issuable pursuant to Awards that may be granted pursuant to Section 3 of this Policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.<u>Section 409A</u>. In no event will cash compensation or expense reimbursement payments under this Policy be paid after the later of (a) the fifteenth (15th) day of the third (3rd) month following the end of the Company's taxable year in which the compensation is earned or expenses are incurred, as applicable, or (b) the fifteenth (15th) day of the third (3rd) month following the end of the calendar year in which the compensation is earned or expenses are incurred, as applicable, in compliance with the "short-term deferral" exception under Section 409A. It is the intent of this Policy that this Policy and all payments hereunder be exempt from or otherwise comply with the requirements of Section 409A so that none of the compensation to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms herein will be interpreted to be so exempt or comply. In no event will the Company or any of its Parents or Subsidiaries have any responsibility, liability, or obligation to reimburse, indemnify, or hold harmless an Outside Director (or any other person) for any taxes imposed, or other costs incurred, as a result of Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.<u>Stockholder Approval</u>. The initial adoption of this Policy will be subject to approval by the Company's stockholders prior to the Effective Date. Unless otherwise required by applicable law, following such approval, this Policy will not be subject to approval by the Company's stockholders, including, for clarity, as a result of or in connection with any action taken with respect to this Policy as contemplated in Section 10.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.<u>Revisions</u>. The Board or any committee of the Board that has been designated appropriate authority with respect to Outside Director compensation (or with respect to any applicable element or elements thereof, authority with respect to such element or elements) (the "<u>Committee</u>") may amend, alter, suspend or terminate this Policy at any time and for any reason. Further, the Board may provide for cash, equity, or other compensation to Outside Directors in addition to the compensation provided under this Policy. No amendment, alteration, suspension or termination of this Policy will materially impair the rights of an Outside Director with respect to compensation that already has been paid or awarded, unless otherwise mutually agreed between the Outside Director and the Company. Termination of this Policy will not affect the Board's or the Committee's ability to exercise the powers granted to it with respect to Awards granted under the Plan pursuant to this Policy

------

before the date of such termination, including without limitation such applicable powers set forth in the Plan.

\* \* \*

------

## Exhibit 10.7

**Exhibit 10.7**

![img198820543_0.jpg](img198820543_0.jpg)

October 29, 2025

Scott Beck

c/o Gloo Holdings, Inc.

831 Pearl Street

Boulder, Colorado 80302

**Re: Confirmatory Employment Letter**

Dear Scott:

This letter agreement (the "<u>Agreement</u>") is entered into between Scott Beck ("<u>you</u>") and Gloo Holdings, Inc. ("<u>Parent</u>") and Gloo Holdings, LLC (the "<u>Company</u>" or "<u>we</u>" and together with Parent, "<u>Gloo</u>"). This Agreement is effective as of the date you sign it, as indicated below. The purpose of this Agreement is to confirm the current terms and conditions of your employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.**Position**. Your position will continue to be President, Chief Executive Officer and you will continue to report to the Parent's Board of Directors (the "<u>Board</u>") of which Patrick Gelsinger currently serves as a member and Executive Chair. This is a full-time position. You will perform the duties and have the responsibilities and authority customarily performed and held by an employee in your position or as otherwise may be assigned or delegated to you by Gloo. While you render services to Gloo, you will not engage in any other employment, consulting or other business activity (whether full-time or part-time) that would create a conflict of interest with Gloo. By signing this Agreement, you reconfirm to Gloo that you have no contractual commitments or other legal obligations that would prohibit you from performing your duties for the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.**Base Salary**. Your current annual base salary is $260,000, which will be payable, less applicable withholdings and deductions, in accordance with the Company's normal payroll practices. Your annual base salary will be subject to review and adjustment based upon the Company's normal performance review practices.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.**Annual Bonus**. You are eligible to earn an annual cash bonus with a current target value of 50% of your annual base salary, based on achieving performance objectives established by the Board or an authorized committee thereof (the "<u>Committee</u>") in its sole discretion and payable upon achievement of those objectives as determined by the Committee. If any portion of such bonus is earned, it will be paid when practicable after the Committee determines it has been earned, subject to you remaining employed with the Company through the payment date. Your annual bonus opportunity will be subject to review and adjustment based upon the Company's normal performance review practices. In addition, the Board and/or the Committee may, in its direction, grant you discretionary bonuses from time to time.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.**Equity Awards**. You will be eligible to receive awards of stock options, restricted stock units or other equity awards pursuant to any plans or arrangements Parent may have in effect from time to time. The Committee will determine in its discretion whether you will be granted any such equity awards and the terms of any such award in accordance with the terms of any applicable plan or arrangement that may be in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.**Employee Benefits**. As a regular full-time employee of the Company, you will continue to be eligible to participate in Company-sponsored benefits in accordance with the terms of the Company's policies and benefits plans. In addition, you will continue to be entitled to paid vacation in accordance with the Company's vacation policy, as in effect from time to time. Information regarding coverage, eligibility, and other information regarding these benefits is set forth in more detailed documents that are available from the Company. With the exception of the Company's at-will employment policy, discussed below, the Company may, from time to time, in its sole discretion, modify or eliminate its policies, compensation, and/or benefits offered to employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.**Severance**. You will be eligible for the Change in Control and Severance Plan (the "<u>Severance Plan</u>"). Your Participation Agreement under the Severance Plan will specify the severance payments and benefits you would be eligible to receive in connection with certain terminations of your employment with the Company. These protections will supersede all other severance payments and benefits you would otherwise currently be eligible for to, or would become eligible for in the future, under any plan, program or policy that Gloo may have in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.**Employee Confidentiality and Invention Assignment**. As an employee of the Company, you will continue to have access to certain confidential information of the Company and you may, during the course of your employment, develop certain information or inventions that will be the property of the Company. To protect the interests of Gloo, your acceptance of this Agreement confirms that the terms of the At-Will Employment, Confidential Information, Invention Assignment, and Arbitration Agreement you previously signed with the Company (the "<u>Confidential Information Agreement</u>") still apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.**Employment Relationship**. Employment with the Company will continue to be for no specific period of time. Your employment with the Company will continue to be "at will," meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause. Any contrary representations that may have been made to you are superseded by this Agreement. This is the full and complete agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company's personnel policies and procedures, may change from time to time, the "at will" nature of your employment may only be changed in an express written agreement approved by the Board and signed by you and another executive officer of Gloo.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.**Protected Activity Not Prohibited**. You understand that nothing in this Agreement or the Confidential Information Agreement limits or prohibits you from filing and/or pursuing a charge or complaint with, or otherwise communicating or cooperating with or participating in any investigation or proceeding that may be conducted by, any federal, state or local government agency or commission, including the Securities and Exchange Commission, the Equal Employment Opportunity Commission, the Occupational Safety and Health Administration, and the National Labor

------

Relations Board ("<u>Government Agencies</u>"), including disclosing documents or other information as permitted by law. Further, nothing in this Agreement or the Confidential Information Agreement shall in any way limit or prohibit you from discussing or disclosing either orally or in writing, any alleged discriminatory or unfair employment practice (including, without limitation, any underlying facts of any alleged discriminatory or unfair employment practice). In addition, you understand that nothing in this Agreement or the Confidential Information Agreement, including its definition of "Company Confidential Information," prevents you from discussing or disclosing information about unlawful acts in the workplace, such as harassment or discrimination or any other conduct that you have reason to believe is unlawful. Notwithstanding the preceding, you agree to take all reasonable precautions to prevent any unauthorized use or disclosure of any Company trade secrets, proprietary information, or confidential information that does not involve unlawful acts in the workplace or the activity otherwise protected herein. You further understand that you are not permitted to disclose the Company's attorney-client privileged communications or attorney work product. In addition, you hereby acknowledge that the Company has provided you with notice in compliance with the Defend Trade Secrets Act of 2016 regarding immunity from liability for limited disclosures of trade secrets. The full text of the notice is attached in <u>Exhibit A</u>. Finally, you understand that nothing in this Agreement or the Confidential Information Agreement, including its definition of "Company Confidential Information," (i) limits employees' rights to discuss or disclose wages, benefits, or terms and conditions of employment as protected by applicable law, including any rights under Section 7 of the National Labor Relations Act, or (ii) otherwise impairs employees from assisting other Company employees and/or former employees in the exercise of their rights under Section 7 of the National Labor Relations Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.**Governing Law; Venue**. All questions concerning the construction, validity and interpretation of this Agreement and the exhibits hereto shall be governed by and construed in accordance with the domestic laws of the State of Colorado, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Colorado or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Colorado. Any lawsuit arising out of or in any way related to this Agreement to the Parties' relationship hereunder shall be brought only in those state or federal courts having jurisdiction over actions arising in Boulder County in the State of Colorado.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.**Miscellaneous**. This Agreement, the Confidential Information Agreement, and the Severance Plan constitute the entire agreement between you, Parent, and the Company regarding the subject matters discussed, and they supersede all prior negotiations, representations or agreements between you, Parent, and the Company. This Agreement may only be modified by a written agreement approved by the Board and signed by you and another executive officer of Gloo.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.**Successors**. This Agreement will be binding upon and inure to the benefit of (a) your heirs, executors, and legal representatives upon your death, and (b) any successor of Parent or the Company. Any such successor of Parent or the Company will be deemed substituted for Parent or the Company, as applicable, under the terms of this Agreement for all purposes. For this purpose, "successor" means any person, firm, corporation, or other business entity which at any time, whether by purchase, merger, or otherwise, directly or indirectly acquires all or substantially all of the assets or business of Parent or the Company. None of your rights to receive any form of compensation payable pursuant to this Agreement may be assigned or transferred except by will or the laws of

------

descent and distribution. Any other attempted assignment, transfer, conveyance, or other disposition of your right to compensation or other benefits will be null and void.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.**Counterparts**. This Agreement may be executed in counterparts (including by electronic means), each of which will be deemed an original, but both of which together will constitute one and the same instrument. Signatures delivered by PDF shall be effective for all purposes.

To confirm the current terms and conditions of your employment, please sign and date in the spaces indicated and return this Agreement to the Company.

---

| | |
|:---|:---|
| Sincerely, | Sincerely, |
| Gloo Holdings, Inc. | Gloo Holdings, Inc. |
| Gloo Holdings, LLC | Gloo Holdings, LLC |
| By: | &nbsp;&nbsp;&nbsp;&nbsp;/s/ Paul Seamon |
| Paul Seamon | Paul Seamon |
| Chief Financial Officer | Chief Financial Officer |

---

I have read and understood this Agreement and hereby acknowledge, accept and agree to the terms as set forth herein and further acknowledge that no other commitments were made to me as part of my employment offer except as specifically set forth herein.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; /s/ Scott Beck | &nbsp;&nbsp;&nbsp;&nbsp; /s/ Scott Beck |
| Scott Beck | Scott Beck |
| Date: | &nbsp;&nbsp;&nbsp;&nbsp;October 29, 2025 |

---

------

**Exhibit A**

**SECTION 7 OF THE DEFEND TRADE SECRETS ACT OF 2016**

" . . . An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that—(A) is made—(i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. . . . An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual—(A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order."

------

## Exhibit 10.8

**Exhibit 10.8**

![img199744064_0.jpg](img199744064_0.jpg)

October 29, 2025

Patrick Gelsinger

c/o Gloo Holdings, Inc.

831 Pearl Street

Boulder, Colorado 80302

**Re: Confirmatory Employment Letter**

Dear Patrick:

This letter agreement (the "<u>Agreement</u>") is entered into between Patrick Gelsinger ("<u>you</u>") and Gloo Holdings, Inc. ("<u>Parent</u>") and Gloo Holdings, LLC (the "<u>Company</u>" or "<u>we</u>" and together with Parent, "<u>Gloo</u>"). This Agreement is effective as of the date you sign it, as indicated below. The purpose of this Agreement is to confirm the current terms and conditions of your employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.**Position**. Your position will continue to be Executive Chair and Head of Technology. As Head of Technology, you will continue to report to the Company's Chief Executive Officer (the "<u>CEO</u>") and will oversee Gloo's technology strategy and perform the duties and have the responsibilities and authority customarily performed and held by an employee in this position. As Executive Chair, you will serve as the leader and a member of Parent's board of directors (the "<u>Board</u>") (subject to any required stockholder approvals), and your responsibilities will include overseeing Board governance, working with the Board and Gloo management to set Gloo's strategic direction, and, in conjunction with the Company's Chief Executive Officer, representing Gloo to key stakeholders. The CEO reports to the Board and the Board sets the duties and responsibilities of the CEO and, in conjunction with the CEO, Gloo's other executive officers. While you render services to Gloo, you will not engage in any other employment, consulting or other business activity (whether full-time or part-time) that would create a conflict of interest with Gloo. By signing this Agreement, you reconfirm to Gloo that you have no contractual commitments or other legal obligations that would prohibit you from performing your duties for the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.**Base Salary**. Your current annual base salary is $130,000, which will be payable, less applicable withholdings and deductions, in accordance with the Company's normal payroll practices. Effective upon the date of the first registration statement that is filed by Parent and declared effective pursuant to Section 12(b) of the Exchange Act with respect to any class of the Company's common stock, your annual base salary will increase to $260,000. Thereafter, your annual base salary will be subject to review and adjustment based upon the Company's normal performance review practices.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.**Annual Bonus**. You are eligible to earn an annual cash bonus with a current target value of 50% of your annual base salary, based on achieving performance objectives established by

------

Parent's Board of Directors (the "<u>Board</u>") or an authorized committee thereof (the "<u>Committee</u>") in its sole discretion and payable upon achievement of those objectives as determined by the Committee. If any portion of such bonus is earned, it will be paid when practicable after the Committee determines it has been earned, subject to you remaining employed with the Company through the payment date. Your annual bonus opportunity will be subject to review and adjustment based upon the Company's normal performance review practices. In addition, the Board and/or the Committee may, in its direction, grant you discretionary bonuses from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.**Equity Awards**. You will be eligible to receive awards of stock options, restricted stock units or other equity awards pursuant to any plans or arrangements Parent may have in effect from time to time. The Committee will determine in its discretion whether you will be granted any such equity awards and the terms of any such award in accordance with the terms of any applicable plan or arrangement that may be in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.**Employee Benefits**. As a regular full-time employee of the Company, you will continue to be eligible to participate in Company-sponsored benefits in accordance with the terms of the Company's policies and benefits plans. In addition, you will continue to be entitled to paid vacation in accordance with the Company's vacation policy, as in effect from time to time. Information regarding coverage, eligibility, and other information regarding these benefits is set forth in more detailed documents that are available from the Company. With the exception of the Company's at-will employment policy, discussed below, the Company may, from time to time, in its sole discretion, modify or eliminate its policies, compensation, and/or benefits offered to employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.**Severance**. You will be eligible for the Change in Control and Severance Plan (the "<u>Severance Plan</u>"). Your Participation Agreement under the Severance Plan will specify the severance payments and benefits you would be eligible to receive in connection with certain terminations of your employment with the Company. These protections will supersede all other severance payments and benefits you would otherwise currently be eligible for to, or would become eligible for in the future, under any plan, program or policy that Gloo may have in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.**Employee Confidentiality and Invention Assignment**. As an employee of the Company, you will continue to have access to certain confidential information of the Company and you may, during the course of your employment, develop certain information or inventions that will be the property of the Company. To protect the interests of Gloo, your acceptance of this Agreement confirms that the terms of the At-Will Employment, Confidential Information, Invention Assignment, and Arbitration Agreement you previously signed with the Company (the "<u>Confidential Information Agreement</u>") still apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.**Employment Relationship**. Employment with the Company will continue to be for no specific period of time. Your employment with the Company will continue to be "at will," meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause. Any contrary representations that may have been made to you are superseded by this Agreement. This is the full and complete agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company's personnel policies and procedures, may change from time to time, the "at will" nature of your employment may

------

only be changed in an express written agreement signed by you and the Company's Chief Executive Officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.**Protected Activity Not Prohibited**. You understand that nothing in this Agreement or the Confidential Information Agreement limits or prohibits you from filing and/or pursuing a charge or complaint with, or otherwise communicating or cooperating with or participating in any investigation or proceeding that may be conducted by, any federal, state or local government agency or commission, including the Securities and Exchange Commission, the Equal Employment Opportunity Commission, the Occupational Safety and Health Administration, and the National Labor Relations Board ("<u>Government Agencies</u>"), including disclosing documents or other information as permitted by law. Further, nothing in this Agreement or the Confidential Information Agreement shall in any way limit or prohibit you from discussing or disclosing either orally or in writing, any alleged discriminatory or unfair employment practice (including, without limitation, any underlying facts of any alleged discriminatory or unfair employment practice). In addition, you understand that nothing in this Agreement or the Confidential Information Agreement, including its definition of "Company Confidential Information," prevents you from discussing or disclosing information about unlawful acts in the workplace, such as harassment or discrimination or any other conduct that you have reason to believe is unlawful. Notwithstanding the preceding, you agree to take all reasonable precautions to prevent any unauthorized use or disclosure of any Company trade secrets, proprietary information, or confidential information that does not involve unlawful acts in the workplace or the activity otherwise protected herein. You further understand that you are not permitted to disclose the Company's attorney-client privileged communications or attorney work product. In addition, you hereby acknowledge that the Company has provided you with notice in compliance with the Defend Trade Secrets Act of 2016 regarding immunity from liability for limited disclosures of trade secrets. The full text of the notice is attached in <u>Exhibit A</u>. Finally, you understand that nothing in this Agreement or the Confidential Information Agreement, including its definition of "Company Confidential Information," (i) limits employees' rights to discuss or disclose wages, benefits, or terms and conditions of employment as protected by applicable law, including any rights under Section 7 of the National Labor Relations Act, or (ii) otherwise impairs employees from assisting other Company employees and/or former employees in the exercise of their rights under Section 7 of the National Labor Relations Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.**Governing Law; Venue**. All questions concerning the construction, validity and interpretation of this Agreement and the exhibits hereto shall be governed by and construed in accordance with the domestic laws of the State of Colorado, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Colorado or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Colorado. Any lawsuit arising out of or in any way related to this Agreement to the Parties' relationship hereunder shall be brought only in those state or federal courts having jurisdiction over actions arising in Boulder County in the State of Colorado.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.**Miscellaneous**. This Agreement, the Confidential Information Agreement, and the Severance Plan constitute the entire agreement between you, Parent, and the Company regarding the subject matters discussed, and they supersede all prior negotiations, representations or agreements between you, Parent, and the Company. This Agreement may only be modified by a written agreement signed by you and the Company's Chief Executive Officer.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.**Successors**. This Agreement will be binding upon and inure to the benefit of (a) your heirs, executors, and legal representatives upon your death, and (b) any successor of Parent or the Company. Any such successor of Parent or the Company will be deemed substituted for Parent or the Company, as applicable, under the terms of this Agreement for all purposes. For this purpose, "successor" means any person, firm, corporation, or other business entity which at any time, whether by purchase, merger, or otherwise, directly or indirectly acquires all or substantially all of the assets or business of Parent or the Company. None of your rights to receive any form of compensation payable pursuant to this Agreement may be assigned or transferred except by will or the laws of descent and distribution. Any other attempted assignment, transfer, conveyance, or other disposition of your right to compensation or other benefits will be null and void.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.**Counterparts**. This Agreement may be executed in counterparts (including by electronic means), each of which will be deemed an original, but both of which together will constitute one and the same instrument. Signatures delivered by PDF shall be effective for all purposes.

To confirm the current terms and conditions of your employment, please sign and date in the spaces indicated and return this Agreement to the Company.

---

| | |
|:---|:---|
| Sincerely, | Sincerely, |
| Gloo Holdings, Inc. | Gloo Holdings, Inc. |
| Gloo Holdings, LLC | Gloo Holdings, LLC |
| By: | &nbsp;&nbsp;&nbsp;&nbsp;/s/ Scott Beck |
| Scott Beck | Scott Beck |
| Chief Executive Officer | Chief Executive Officer |

---

I have read and understood this Agreement and hereby acknowledge, accept and agree to the terms as set forth herein and further acknowledge that no other commitments were made to me as part of my employment offer except as specifically set forth herein.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; /s/ Patrick Gelsinger | &nbsp;&nbsp;&nbsp;&nbsp; /s/ Patrick Gelsinger |
| Patrick Gelsinger | Patrick Gelsinger |
| Date: | &nbsp;&nbsp;&nbsp;&nbsp;October 29, 2025 |

---

------

**Exhibit A**

**SECTION 7 OF THE DEFEND TRADE SECRETS ACT OF 2016**

" . . . An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that—(A) is made—(i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. . . . An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual—(A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order."

------

## Exhibit 10.9

**Exhibit 10.9**

![img200667585_0.jpg](img200667585_0.jpg)

October 29, 2025

Paul Seamon

c/o Gloo Holdings, Inc.

831 Pearl Street

Boulder, Colorado 80302

**Re: Confirmatory Employment Letter**

Dear Paul:

This letter agreement (the "<u>Agreement</u>") is entered into between Paul Seamon ("<u>you</u>") and Gloo Holdings, Inc. ("<u>Parent</u>") and Gloo Holdings, LLC (the "<u>Company</u>" or "<u>we</u>" and together with Parent, "<u>Gloo</u>"). This Agreement is effective as of the date you sign it, as indicated below. The purpose of this Agreement is to confirm the current terms and conditions of your employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.**Position**. Your position will continue to be Chief Financial Officer, and you will continue to report to the Company's Chief Executive Officer or to such other person as the Company subsequently may determine. This is a full-time position. You will perform the duties and have the responsibilities and authority customarily performed and held by an employee in your position or as otherwise may be assigned or delegated to you by Gloo. While you render services to Gloo, you will not engage in any other employment, consulting or other business activity (whether full-time or part-time) that would create a conflict of interest with Gloo. By signing this Agreement, you reconfirm to Gloo that you have no contractual commitments or other legal obligations that would prohibit you from performing your duties for the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.**Base Salary**. Your current annual base salary is $300,000, which will be payable, less applicable withholdings and deductions, in accordance with the Company's normal payroll practices. Your annual base salary will be subject to review and adjustment based upon the Company's normal performance review practices.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.**Annual Bonus**. You are eligible to earn an annual cash bonus with a current target value of 75% of your annual base salary, based on achieving performance objectives established by Parent's Board of Directors (the "<u>Board</u>") or an authorized committee thereof (the "<u>Committee</u>") in its sole discretion and payable upon achievement of those objectives as determined by the Committee. If any portion of such bonus is earned, it will be paid when practicable after the Committee determines it has been earned, subject to you remaining employed with the Company through the payment date. Your annual bonus opportunity will be subject to review and adjustment based upon the Company's normal performance review practices. In addition, the Board and/or the Committee may, in its direction, grant you discretionary bonuses from time to time.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.**Equity Awards**. You will be eligible to receive awards of stock options, restricted stock units or other equity awards pursuant to any plans or arrangements Parent may have in effect from time to time. The Committee will determine in its discretion whether you will be granted any such equity awards and the terms of any such award in accordance with the terms of any applicable plan or arrangement that may be in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.**Employee Benefits**. As a regular full-time employee of the Company, you will continue to be eligible to participate in Company-sponsored benefits in accordance with the terms of the Company's policies and benefits plans. In addition, you will continue to be entitled to paid vacation in accordance with the Company's vacation policy, as in effect from time to time. Information regarding coverage, eligibility, and other information regarding these benefits is set forth in more detailed documents that are available from the Company. With the exception of the Company's at-will employment policy, discussed below, the Company may, from time to time, in its sole discretion, modify or eliminate its policies, compensation, and/or benefits offered to employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.**Severance**. You will be eligible for the Change in Control and Severance Plan (the "<u>Severance Plan</u>"). Your Participation Agreement under the Severance Plan will specify the severance payments and benefits you would be eligible to receive in connection with certain terminations of your employment with the Company. These protections will supersede all other severance payments and benefits you would otherwise currently be eligible for to, or would become eligible for in the future, under any plan, program or policy that Gloo may have in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.**Employee Confidentiality and Invention Assignment**. As an employee of the Company, you will continue to have access to certain confidential information of the Company and you may, during the course of your employment, develop certain information or inventions that will be the property of the Company. To protect the interests of Gloo, your acceptance of this Agreement confirms that the terms of the At-Will Employment, Confidential Information, Invention Assignment, and Arbitration Agreement you previously signed with the Company (the "<u>Confidential Information Agreement</u>") still apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.**Employment Relationship**. Employment with the Company will continue to be for no specific period of time. Your employment with the Company will continue to be "at will," meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause. Any contrary representations that may have been made to you are superseded by this Agreement. This is the full and complete agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company's personnel policies and procedures, may change from time to time, the "at will" nature of your employment may only be changed in an express written agreement signed by you and the Company's Chief Executive Officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.**Protected Activity Not Prohibited**. You understand that nothing in this Agreement or the Confidential Information Agreement limits or prohibits you from filing and/or pursuing a charge or complaint with, or otherwise communicating or cooperating with or participating in any investigation or proceeding that may be conducted by, any federal, state or local government agency or commission, including the Securities and Exchange Commission, the Equal Employment Opportunity Commission, the Occupational Safety and Health Administration, and the National Labor

------

Relations Board ("<u>Government Agencies</u>"), including disclosing documents or other information as permitted by law. Further, nothing in this Agreement or the Confidential Information Agreement shall in any way limit or prohibit you from discussing or disclosing either orally or in writing, any alleged discriminatory or unfair employment practice (including, without limitation, any underlying facts of any alleged discriminatory or unfair employment practice). In addition, you understand that nothing in this Agreement or the Confidential Information Agreement, including its definition of "Company Confidential Information," prevents you from discussing or disclosing information about unlawful acts in the workplace, such as harassment or discrimination or any other conduct that you have reason to believe is unlawful. Notwithstanding the preceding, you agree to take all reasonable precautions to prevent any unauthorized use or disclosure of any Company trade secrets, proprietary information, or confidential information that does not involve unlawful acts in the workplace or the activity otherwise protected herein. You further understand that you are not permitted to disclose the Company's attorney-client privileged communications or attorney work product. In addition, you hereby acknowledge that the Company has provided you with notice in compliance with the Defend Trade Secrets Act of 2016 regarding immunity from liability for limited disclosures of trade secrets. The full text of the notice is attached in <u>Exhibit A</u>. Finally, you understand that nothing in this Agreement or the Confidential Information Agreement, including its definition of "Company Confidential Information," (i) limits employees' rights to discuss or disclose wages, benefits, or terms and conditions of employment as protected by applicable law, including any rights under Section 7 of the National Labor Relations Act, or (ii) otherwise impairs employees from assisting other Company employees and/or former employees in the exercise of their rights under Section 7 of the National Labor Relations Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.**Governing Law; Venue**. All questions concerning the construction, validity and interpretation of this Agreement and the exhibits hereto shall be governed by and construed in accordance with the domestic laws of the State of Colorado, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Colorado or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Colorado. Any lawsuit arising out of or in any way related to this Agreement to the Parties' relationship hereunder shall be brought only in those state or federal courts having jurisdiction over actions arising in Boulder County in the State of Colorado.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.**Miscellaneous**. This Agreement, the Confidential Information Agreement, and the Severance Plan constitute the entire agreement between you, Parent, and the Company regarding the subject matters discussed, and they supersede all prior negotiations, representations or agreements between you, Parent, and the Company. This Agreement may only be modified by a written agreement signed by you and the Company's Chief Executive Officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.**Successors**. This Agreement will be binding upon and inure to the benefit of (a) your heirs, executors, and legal representatives upon your death, and (b) any successor of Parent or the Company. Any such successor of Parent or the Company will be deemed substituted for Parent or the Company, as applicable, under the terms of this Agreement for all purposes. For this purpose, "successor" means any person, firm, corporation, or other business entity which at any time, whether by purchase, merger, or otherwise, directly or indirectly acquires all or substantially all of the assets or business of Parent or the Company. None of your rights to receive any form of compensation payable pursuant to this Agreement may be assigned or transferred except by will or the laws of

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descent and distribution. Any other attempted assignment, transfer, conveyance, or other disposition of your right to compensation or other benefits will be null and void.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.**Counterparts**. This Agreement may be executed in counterparts (including by electronic means), each of which will be deemed an original, but both of which together will constitute one and the same instrument. Signatures delivered by PDF shall be effective for all purposes.

To confirm the current terms and conditions of your employment, please sign and date in the spaces indicated and return this Agreement to the Company.

---

| | |
|:---|:---|
| Sincerely, | Sincerely, |
| Gloo Holdings, Inc. | Gloo Holdings, Inc. |
| Gloo Holdings, LLC | Gloo Holdings, LLC |
| By: | &nbsp;&nbsp;&nbsp;&nbsp;/s/ Scott Beck |
| Scott Beck | Scott Beck |
| Chief Executive Officer | Chief Executive Officer |

---

I have read and understood this Agreement and hereby acknowledge, accept and agree to the terms as set forth herein and further acknowledge that no other commitments were made to me as part of my employment offer except as specifically set forth herein.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; /s/ Paul Seamon | &nbsp;&nbsp;&nbsp;&nbsp; /s/ Paul Seamon |
| Paul Seamon | Paul Seamon |
| Date: | &nbsp;&nbsp;&nbsp;&nbsp;October 29, 2025 |

---

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**Exhibit A**

**SECTION 7 OF THE DEFEND TRADE SECRETS ACT OF 2016**

" . . . An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that—(A) is made—(i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. . . . An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual—(A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order."

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## Exhibit 10.10

**Exhibit 10.10**

![img86189853_0.jpg](img86189853_0.jpg)

October 29, 2025

Matthew Gotschall

c/o Gloo Holdings, Inc.

831 Pearl Street

Boulder, Colorado 80302

**Re: Confirmatory Employment Letter**

Dear Matthew:

This letter agreement (the "<u>Agreement</u>") is entered into between Matthew Gotschall ("<u>you</u>") and Gloo Holdings, Inc. ("<u>Parent</u>") and Gloo Holdings, LLC (the "<u>Company</u>" or "<u>we</u>" and together with Parent, "<u>Gloo</u>"). This Agreement is effective as of the date you sign it, as indicated below. The purpose of this Agreement is to confirm the current terms and conditions of your employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.**Position**. Your position will continue to be Chief Accounting Officer and Treasurer, and you will continue to report to the Company's Chief Executive Officer or to such other person as the Company subsequently may determine. This is a full-time position. You will perform the duties and have the responsibilities and authority customarily performed and held by an employee in your position or as otherwise may be assigned or delegated to you by Gloo. While you render services to Gloo, you will not engage in any other employment, consulting or other business activity (whether full-time or part-time) that would create a conflict of interest with Gloo. By signing this Agreement, you reconfirm to Gloo that you have no contractual commitments or other legal obligations that would prohibit you from performing your duties for the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.**Base Salary**. Your current annual base salary is $250,000, which will be payable, less applicable withholdings and deductions, in accordance with the Company's normal payroll practices. Your annual base salary will be subject to review and adjustment based upon the Company's normal performance review practices.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.**Annual Bonus**. You are eligible to earn an annual cash bonus with a current target value of 40% of your annual base salary, based on achieving performance objectives established by Parent's Board of Directors (the "<u>Board</u>") or an authorized committee thereof (the "<u>Committee</u>") in its sole discretion and payable upon achievement of those objectives as determined by the Committee. If any portion of such bonus is earned, it will be paid when practicable after the Committee determines it has been earned, subject to you remaining employed with the Company through the payment date. Your annual bonus opportunity will be subject to review and adjustment based upon the Company's normal performance review practices. In addition, the Board and/or the Committee may, in its direction, grant you discretionary bonuses from time to time.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.**Equity Awards**. You will be eligible to receive awards of stock options, restricted stock units or other equity awards pursuant to any plans or arrangements Parent may have in effect from time to time. The Committee will determine in its discretion whether you will be granted any such equity awards and the terms of any such award in accordance with the terms of any applicable plan or arrangement that may be in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.**Employee Benefits**. As a regular full-time employee of the Company, you will continue to be eligible to participate in Company-sponsored benefits in accordance with the terms of the Company's policies and benefits plans. In addition, you will continue to be entitled to paid vacation in accordance with the Company's vacation policy, as in effect from time to time. Information regarding coverage, eligibility, and other information regarding these benefits is set forth in more detailed documents that are available from the Company. With the exception of the Company's at-will employment policy, discussed below, the Company may, from time to time, in its sole discretion, modify or eliminate its policies, compensation, and/or benefits offered to employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.**Severance**. You will be eligible for the Change in Control and Severance Plan (the "<u>Severance Plan</u>"). Your Participation Agreement under the Severance Plan will specify the severance payments and benefits you would be eligible to receive in connection with certain terminations of your employment with the Company. These protections will supersede all other severance payments and benefits you would otherwise currently be eligible for to, or would become eligible for in the future, under any plan, program or policy that Gloo may have in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.**Employee Confidentiality and Invention Assignment**. As an employee of the Company, you will continue to have access to certain confidential information of the Company and you may, during the course of your employment, develop certain information or inventions that will be the property of the Company. To protect the interests of Gloo, your acceptance of this Agreement confirms that the terms of the At-Will Employment, Confidential Information, Invention Assignment, and Arbitration Agreement you previously signed with the Company (the "<u>Confidential Information Agreement</u>") still apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.**Employment Relationship**. Employment with the Company will continue to be for no specific period of time. Your employment with the Company will continue to be "at will," meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause. Any contrary representations that may have been made to you are superseded by this Agreement. This is the full and complete agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company's personnel policies and procedures, may change from time to time, the "at will" nature of your employment may only be changed in an express written agreement signed by you and the Company's Chief Executive Officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.**Protected Activity Not Prohibited**. You understand that nothing in this Agreement or the Confidential Information Agreement limits or prohibits you from filing and/or pursuing a charge or complaint with, or otherwise communicating or cooperating with or participating in any investigation or proceeding that may be conducted by, any federal, state or local government agency or commission, including the Securities and Exchange Commission, the Equal Employment Opportunity Commission, the Occupational Safety and Health Administration, and the National Labor

------

Relations Board ("<u>Government Agencies</u>"), including disclosing documents or other information as permitted by law. Further, nothing in this Agreement or the Confidential Information Agreement shall in any way limit or prohibit you from discussing or disclosing either orally or in writing, any alleged discriminatory or unfair employment practice (including, without limitation, any underlying facts of any alleged discriminatory or unfair employment practice). In addition, you understand that nothing in this Agreement or the Confidential Information Agreement, including its definition of "Company Confidential Information," prevents you from discussing or disclosing information about unlawful acts in the workplace, such as harassment or discrimination or any other conduct that you have reason to believe is unlawful. Notwithstanding the preceding, you agree to take all reasonable precautions to prevent any unauthorized use or disclosure of any Company trade secrets, proprietary information, or confidential information that does not involve unlawful acts in the workplace or the activity otherwise protected herein. You further understand that you are not permitted to disclose the Company's attorney-client privileged communications or attorney work product. In addition, you hereby acknowledge that the Company has provided you with notice in compliance with the Defend Trade Secrets Act of 2016 regarding immunity from liability for limited disclosures of trade secrets. The full text of the notice is attached in <u>Exhibit A</u>. Finally, you understand that nothing in this Agreement or the Confidential Information Agreement, including its definition of "Company Confidential Information," (i) limits employees' rights to discuss or disclose wages, benefits, or terms and conditions of employment as protected by applicable law, including any rights under Section 7 of the National Labor Relations Act, or (ii) otherwise impairs employees from assisting other Company employees and/or former employees in the exercise of their rights under Section 7 of the National Labor Relations Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.**Governing Law; Venue**. All questions concerning the construction, validity and interpretation of this Agreement and the exhibits hereto shall be governed by and construed in accordance with the domestic laws of the State of Colorado, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Colorado or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Colorado. Any lawsuit arising out of or in any way related to this Agreement to the Parties' relationship hereunder shall be brought only in those state or federal courts having jurisdiction over actions arising in Boulder County in the State of Colorado.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.**Miscellaneous**. This Agreement, the Confidential Information Agreement, and the Severance Plan constitute the entire agreement between you, Parent, and the Company regarding the subject matters discussed, and they supersede all prior negotiations, representations or agreements between you, Parent, and the Company. This Agreement may only be modified by a written agreement signed by you and the Company's Chief Executive Officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.**Successors**. This Agreement will be binding upon and inure to the benefit of (a) your heirs, executors, and legal representatives upon your death, and (b) any successor of Parent or the Company. Any such successor of Parent or the Company will be deemed substituted for Parent or the Company, as applicable, under the terms of this Agreement for all purposes. For this purpose, "successor" means any person, firm, corporation, or other business entity which at any time, whether by purchase, merger, or otherwise, directly or indirectly acquires all or substantially all of the assets or business of Parent or the Company. None of your rights to receive any form of compensation payable pursuant to this Agreement may be assigned or transferred except by will or the laws of

------

descent and distribution. Any other attempted assignment, transfer, conveyance, or other disposition of your right to compensation or other benefits will be null and void.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.**Counterparts**. This Agreement may be executed in counterparts (including by electronic means), each of which will be deemed an original, but both of which together will constitute one and the same instrument. Signatures delivered by PDF shall be effective for all purposes.

To confirm the current terms and conditions of your employment, please sign and date in the spaces indicated and return this Agreement to the Company.

---

| | |
|:---|:---|
| Sincerely, | Sincerely, |
| Gloo Holdings, Inc. | Gloo Holdings, Inc. |
| Gloo Holdings, LLC | Gloo Holdings, LLC |
| By: | &nbsp;&nbsp;&nbsp;&nbsp;/s/ Scott Beck |
| Scott Beck | Scott Beck |
| Chief Executive Officer | Chief Executive Officer |

---

I have read and understood this Agreement and hereby acknowledge, accept and agree to the terms as set forth herein and further acknowledge that no other commitments were made to me as part of my employment offer except as specifically set forth herein.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; /s/ Matthew Gotschall | &nbsp;&nbsp;&nbsp;&nbsp; /s/ Matthew Gotschall |
| Matthew Gotschall | Matthew Gotschall |
| Date: | &nbsp;&nbsp;&nbsp;&nbsp;October 29, 2025 |

---

------

**Exhibit A**

**SECTION 7 OF THE DEFEND TRADE SECRETS ACT OF 2016**

" . . . An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that—(A) is made—(i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. . . . An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual—(A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order."

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## Exhibit 10.16

**Exhibit 10.16**

**OMNIBUS AMENDMENT TO<br>AMENDED AND RESTATED Note PURCHASE AGREEMENT and Secured Promissory notes** 

**This Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** (this "***Amendment***") is made and entered into effective as of October 23, 2025, by and among **Gloo Holdings, LLC**, a Delaware limited liability company (the "***Company***"), and the Purchasers.

**RECITALS**

**Whereas**, the Company and the Purchasers are parties to that certain Amended and Restated Note Purchase Agreement, dated as of June 23, 2025, as amended on September 5, 2025 (the "***Agreement***"), by and among the Company and the Purchasers named therein;

**Whereas**, all capitalized terms used and not otherwise defined herein shall have the meanings set forth in the Agreement;

**Whereas**, the Company and the Required Purchasers (defined below) desire to amend the Agreement to provide for the automatic conversion of the Notes issued in any Subsequent Closing, including any Notes issued on the Effective Date that were issued in exchange for any Notes issued prior to the Effective Date pursuant to the Existing Agreement, immediately prior to the closing of the initial public offering of the Class A common stock of Gloo Holdings, Inc., a Delaware corporation, and to provide for the other amendments as set forth herein;

**Whereas**, the Company and the Purchasers desire to amend the Notes to exclude from the definition of "Corporate Transaction" any consolidation or merger of the Company with or into any other corporation or other entity or person, or any other corporate reorganization, in each case, undertaken in connection with such initial public offering, and to provide for the other amendments as set forth herein;

**Whereas**, pursuant to Section 7.7 of the Agreement, this amendment of the Agreement and of the Notes issued thereunder is an Act of the Purchasers and requires the written consent of both (i) Purchasers (or their respective successors or assigns) holding, collectively, a majority of the outstanding and unpaid principal amount owing under all Notes outstanding as of the date hereof and (ii) Purchasers (or their respective successors or assigns) who are not as of the date hereof Related Persons of the Company who, collectively, hold a majority of the outstanding and unpaid principal amount owing under all Notes held by such Purchasers outstanding as of the date hereof ((i) and (ii) collectively the "***Required Purchasers***"); and

**Whereas**, together, the parties hereto constitute the Company and Required Purchasers sufficient to amend the Agreement and the Notes, and to bind all parties thereto.

**AGREEMENT**

**Now Therefore**, in consideration of the foregoing recitals and the mutual terms and conditions contained herein and in the Agreement and in the Notes, and other good and valuable consideration, the receipt and sufficiency of which the parties hereto hereby acknowledge, the parties hereto agree as follows:

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1.**Amendment of Agreement**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)The Agreement is hereby amended by adding a new Section 2.6 in its entirety as follows:

"**2.6 Automatic Conversion upon Initial Public Offering of Gloo Holdings, Inc**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) With respect to any Notes issued at a Subsequent Closing, including any Notes issued on the Effective Date that were issued in exchange for any Notes issued prior to the Effective Date pursuant to the Existing Agreement (each, a "***Convertible Note***") (but, for the avoidance of doubt, not with respect to any Notes issued pursuant to the Existing Agreement prior to the Effective Date that were not exchanged on the Effective Date), immediately prior to the closing of the sale of shares of Class A common stock of Gloo Holdings, Inc. to the public in a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "***Gloo Holdings IPO***"), the outstanding principal of each Convertible Note and any unpaid accrued interest thereunder shall automatically convert in whole without any further action by any Purchaser of such Convertible Note into shares of Class B Common Stock, par value $0.001 per share, of Gloo Holdings, Inc. ("***Class B Common Stock***") at a per share conversion price equal to the lesser of (i) 80% of the per share price to the public in the Gloo Holdings IPO and (ii) $30.00 (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Class B Common Stock), in each case, rounded down to the nearest whole share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In connection with any conversion of a Convertible Note into Class B Common Stock, the Purchaser of such Convertible Note shall surrender such Convertible Note to the Company and deliver to the Company any documentation reasonably required by the Company (including any lockup agreement executed by members of the Company or Gloo Holdings Inc. stockholders in connection with the Gloo Holdings IPO). The Company shall not be required to issue or deliver the Class B Common Stock into which such Convertible Note may convert until the Purchaser thereof has surrendered such Convertible Note to the Company and delivered to the Company any such documentation. Upon the conversion of such Convertible Note into Class B Common Stock pursuant to the terms hereof, in lieu of any fractional shares to which the Purchaser of such Convertible Note would otherwise be entitled, the Company shall pay such Purchaser cash equal to such fraction multiplied by the price at which such Convertible Note converts.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)The Agreement is hereby amended by adding a new Section 2.7 in its entirety as follows:

"**2.7 Legends**. All certificates issued upon conversion of the Convertible Notes will bear and be subject to legends in substantially the following form:

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR THE SECURITIES LAWS OF ANY STATE, AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION. NO OPINION OF COUNSEL SHALL BE REQUIRED IF THE TRANSFER IS TO AN AFFILIATE OF HOLDER, PROVIDED THAT ANY SUCH TRANSFEREE IS AN "ACCREDITED INVESTOR" AS DEFINED IN REGULATION D PROMULGATED UNDER THE ACT.

2.**Amendment of Notes**. Each Note is hereby amended by deleting Sections 2 and 5(a) thereof in their entirety and replacing them with the following respective provisions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)2. **Corporate Transaction**. Other than with respect to (x) a Qualified IPO or (y) a consolidation or merger of the Company with or into any other corporation or other entity or person, or any other corporate reorganization, in each case, undertaken in connection with the Gloo Holdings IPO, in the event that (i) the Company enters into an agreement pertaining to or consummates (in each case, including by way of a division or plan of division under Delaware law or any comparable event under a different jurisdiction's laws) (a) a sale, lease or other disposition of all or substantially all of its assets or (b) a consolidation or merger of the Company with or into any other corporation or other entity or person, or any other corporate reorganization, in which the equity holders of the Company immediately prior to such consolidation, merger or reorganization own less than 50% of the voting power of the surviving entity immediately after such consolidation, merger or reorganization or, if the surviving or resulting entity is a wholly owned subsidiary of another entity immediately following such merger or consolidation, the parent entity of such surviving or resulting entity (each such event being referred to herein as a "**Corporate Transaction**"), and (ii) the Note has not been paid in full, then, before any distribution or payment is made to the holders of equity securities of the Company, the Required Purchasers may require that the Company pay to Holder an amount equal to the principal balance of the Note then outstanding, plus unpaid accrued interest thereon through the date of such Corporate Transaction.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)**5. Miscellaneous.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Successors and Assigns. The terms and conditions of this Note shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Notwithstanding the foregoing, neither the Company or the Holder may, assign, exchange or transfer, by operation of law or otherwise, their respective rights or obligations under this Note (whether voluntarily or involuntarily), *provided*, *however*, that (x) the Holder's rights or obligations under this Note may be sold, assigned, exchanged or transferred (i) by will or intestacy from the Holder to the Holder's immediate family members, to a trust for the benefit of the Holder or the Holder's immediate family members or to a limited partnership, the partners of which are the Holder's immediate family members, (ii) from the Holder, if an entity, to the Holder's equity owners; (iii) to an affiliate (including affiliate funds), a shareholder, partner (or retired partner) or member (or retired member) of such Holder, or transfers by gift, will or intestate succession to any spouse or lineal descendants or ancestors; (iv) to Pearl Street Trust or any of its affiliates (including, without limitation, Scott Beck); and (v) with the express written consent of the Company and (y) the Company's rights or obligations under this Note may be sold, assigned, exchanged or transferred to Gloo Holdings, Inc. without the consent of any Holder; *provided*, that in each case the transferee agrees in writing to be subject to the terms of this Note to the same extent as if such transferee were the Holder or the Company hereunder, as applicable. Any sale, assignment, exchange or transfer of this Note by the Company or the Holder in contravention of this Section 5(a) shall be void and ineffectual *ab initio*.

3.**AMENDMENT OF FORM OF NOTE**. Exhibit B of the Agreement is hereby amended and restated in its entirety and shall be replaced with the Form of Secured Promissory Note in substantially the form attached hereto as **Exhibit A**, which Form of Secured Promissory Note gives effect to the changes set forth in Section 2 above.

4.**Miscellaneous**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as amended by this Amendment, the Agreement and the Notes shall remain in full force and effect in all respects. Additionally, the Agreement and the Notes, as referenced in any other document that the parties to the Agreement have executed, shall mean the Agreement and the Notes as amended by this Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each of the parties hereto hereby consents to this Amendment and hereby acknowledges that the Agreement and Notes remain in full force and effect and are hereby ratified and reaffirmed. Except as expressly set forth herein, the execution of this Amendment shall not operate as a waiver of any right, power or remedy of any party, constitute a waiver of any provision of the Agreement or the Notes or serve to effect a novation of any obligation thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) This Amendment may be executed in any number of counterparts, each and all of which will be deemed an original and all of which together will constitute but one and the same instrument. The facsimile or electronic signature of any party to this Amendment (including any electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law, e.g., www.docusign.com) or a PDF copy of the signature of any party to this Amendment delivered by electronic mail for purposes of execution or otherwise, is to be considered to have the same binding effect as the delivery of an original

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## signature on an original contract. Any party that delivers an executed counterpart signature page by electronic image scan transmission in .pdf shall, upon the request of a party, promptly thereafter deliver a manually executed counterpart signature page to such party; <u>provided</u>, <u>however</u>, that the failure to do so will not affect the validity, enforceability, or binding effect of this Amendment.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) This Amendment shall be governed by and construed under the laws of the State of Colorado in all respects as such laws are applied to agreements among Colorado residents entered into and performed entirely within Colorado, without giving effect to conflict of law principles thereof.

*[Signature Pages Follow]*

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**COMPANY:**

**Gloo Holdings, LLC**

By: <u>/s/ Scott Beck</u> 

Name: Scott Beck

Title: President & Chief Executive Officer

Address: 831 Pearl St.

Boulder, Colorado 80302

**ACKNOWLEDGED AND AGREED:**

**Gloo Holdings, Inc.**

By: <u>/s/ Scott Beck</u> 

Name: Scott Beck

Title: President & Chief Executive Officer

Address: 831 Pearl St.

Boulder, Colorado 80302

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**1607 Holdings, LLC**

By: <u>/s/ Scott Cahill, Jr.</u> 

Name: <u>Scott Cahill, Jr.</u> 

Title: <u>Manager</u> 

Date of Signature: <u>October 22, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**210, LLC**

By: <u>/s/ Lincoln McIlravy</u> 

Name: <u>Lincoln McIlravy</u> 

Title: <u>Manager</u> 

Date of Signature: <u>October 22, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**AFHL Investments, LLC**

By: <u>/s/ Clayton Underwood</u> 

Name: <u>Clayton Underwood</u> 

Title: <u>Authorized Representative</u> 

Date of Signature: <u>October 23, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Andrew M. Aran**

By: <u>/s/ Andrew M. Aran</u> 

Date of Signature: <u>October 22, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Augustine AG Pool III, LLC**

A Colorado Limited Liability Company

By: <u>Avodah Group, LLC, Manager</u> 

By: <u>/s/ Jesse McDowell</u> 

Name: <u>Jesse McDowell</u> 

Title: <u>Authorized Representative</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**FMAB Partners, LP** 

By: <u>/s/ Jack D. Furst</u> 

Name: <u>Jack D. Furst</u> 

Title: <u>President of JAJO, LLC, the General Partner of FMAB Partners, LP</u> 

Date of Signature: <u>October 22, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Jane White 2011 Irrevocable Trust**

By: <u>/s/ Wallace L. Hall, Jr.</u> 

Name: <u>Wallace L. Hall, Jr.</u> 

Title: <u>Manager</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Beloved in Christ Foundation**

By: <u>/s/ Donna Wilcox</u> 

Name: <u>Donna Wilcox</u> 

Title: <u>Executive Director, Secretary & Treasurer</u> 

Date of Signature: <u>October 23, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Biblica Ministries Foundation**

By: <u>/s/ Bruce Trowbridge</u> 

Name: <u>Bruce Trowbridge</u> 

Title: <u>CFO</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Bubba Saulsbury 2018 GST Trust**

By: <u>/s/ Shane Louder</u> 

Name: <u>Shane Louder</u> 

Title: <u>Trustee</u> 

Date of Signature: <u>October 22, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Carey N. and Toni C. Nieuwhof**

By: <u>/s/ Carey N. Nieuwhof</u> 

Name: <u>Carey N. Nieuwhof</u> 

Date of Signature: <u>October 22, 2025</u> 

By: <u>/s/ Toni C. Nieuwhof</u> 

Name: <u>Toni C. Nieuwhof</u> 

Date of Signature: <u>October 22, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Cary Brown Foundation**

By: <u>/s/ Christopher Start</u> 

Name: <u>Christopher Start</u> 

Title: <u>Treasurer</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:** 

**Casas Joint Living Trust**

By: <u>/s/ Craig Groeschel</u> 

Name: <u>Craig Groeschel</u> 

Title: <u>Trustee</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Christian Financial Resources, Inc.**

By: <u>/s/ Darren R. Key</u> 

Name: <u>Darren R. Key</u> 

Title: <u>CEO</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Ciaran Lawler** 

By: <u>/s/ Ciaran Lawler</u> 

Date of Signature: <u>October 28, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Clearview Family Foundation**

By: <u>/s/ Terrence M. Mullen</u> 

Name: <u>Terrence M. Mullen</u> 

Title: <u>Trustee</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**David C. & Melissa R. Fischer (Joint Tenants)**

By: <u>/s/ David C. Fischer</u> 

Name: <u>David C. Fischer</u> 

Date of Signature: <u>October 23, 2025</u> 

By: <u>/s/ Melissa R. Fischer</u> 

Name: <u>Melissa R. Fischer</u> 

Date of Signature: <u>October 23, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Dianne Zugg 2018 GST Trust**

By: <u>/s/ Shane Louder</u> 

Name: <u>Shane Louder</u> 

Title: <u>Trustee</u> 

Date of Signature: <u>October 22, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Doll Family Foundation**

By: <u>/s/ Robert C. Doll</u> 

Name: <u>Robert C. Doll</u> 

Title: <u>Secretary</u> 

Date of Signature: <u>October 22, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Erik & Kristine Olson (JTWROS)**

By: <u>/s/ Erik Olson</u> 

Name: <u>Erik Olson</u> 

Date of Signature: <u>October 24, 2025</u> 

By: <u>/s/ Kristine Olson</u> 

Name: <u>Kristine Olson</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Festus & Helen Stacy Foundation II**

Trustee: Festus & Helen Stacy Foundation, Inc.

By: <u>/s/ Brett Stepelton</u> 

Name: <u>Brett Stepelton</u> 

Title: <u>V.P. of Operations</u> 

Date of Signature: <u>October 22, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Flourish Holdings, Inc.**

By: <u>/s/ Matthew S. Johnson</u> 

Name: <u>Matthew S. Johnson</u> 

Title: <u>President</u> 

Date of Signature: <u>October 28, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**GLI Ventures, LP**

By: <u>/s/ Donna Wilcox</u> 

Name: <u>Donna Wilcox</u> 

Title: <u>Vice President & Director</u> 

Date of Signature: <u>October 23, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**HeadinNHealin, LLC**

By: <u>/s/ Shane Doan</u> 

Name: <u>Shane Doan</u> 

Title: <u>Member</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Impact Investing Charitable Trust**

By: <u>/s/ Aimee Minnich</u> 

Name: <u>Aimee Minnich</u> 

Title: <u>General Counsel for the Trustee, Impact Investing Charitable Foundation, Inc.</u> 

Date of Signature: <u>October 24, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Jane McConnell 2017 Irrevocable Trust**

By: <u>/s/ John G. Harding</u> 

Name: <u>John G. Harding</u> 

Title: <u>Trustee (Sole Serving)</u> 

Date of Signature: <u>October 24, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Jeff A. Montgomery**

By: <u>/s/ Jeff A. Montgomery</u> 

Date of Signature: <u>October 22, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Jeffrey D. Heyman 2012 Irrevocable Trust**

By: <u>/s/ John G. Harding</u> 

Name: <u>John G. Harding</u> 

Title: <u>Trustee (Sole Serving)</u> 

Date of Signature: <u>October 24, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Jeffrey Dorn Heyman 2009 GRAT Continuing Trust**

By: <u>/s/ John G. Harding</u> 

Name: <u>John G. Harding</u> 

Title: <u>Trustee (Sole Serving)</u> 

Date of Signature: <u>October 24, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**John D. Platillero and Mitzi A. Platillero Joint Revocable Living Trust**

By: <u>/s/ John D. Platillero</u> 

Name: <u>John D. Platillero</u> 

Title: <u>Trustee</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**John G. Tofilon 2008 Trust and Charlotte M. Tofilon 2008 Trust, joint Tenants In Common**

By: <u>/s/ John G. Tofilon</u> 

Name: <u>John G. Tofilon</u> 

Title: <u>Co-Trustee</u> 

Date of Signature: <u>October 21, 2025</u> 

By: <u>/s/ Charlotte M. Tofilon</u> 

Name: <u>Charlotte M. Tofilon</u> 

Title: <u>Co-Trustee</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**John L. Stanley 2019 Trust U/A DTD 03/11/13**

By: <u>/s/ John L. Stanley</u> 

Name: <u>John L. Stanley</u> 

Title: <u>Trustee</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**JSD Family Investments, LLLP**

By: <u>/s/ John Dalsheim</u> 

Name: <u>John Dalsheim</u> 

Title: <u>Partner</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Keith Johnson**

By: <u>/s/ Keith Johnson</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Kent Lubrication Centers, Ltd.**

By: <u>/s/ William Kent</u> 

Name: <u>William Kent</u> 

Title: <u>Chairman/CEO</u> 

Date of Signature: <u>October 22, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Kerry Wilson Sernel**

By: <u>/s/ Kerry Wilson Sernel</u> 

Date of Signature: <u>October 28, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Mark Saulsbury**

By: <u>/s/ Mark Saulsbury</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Matthew Saulsbury 2018 GST Trust**

By: <u>/s/ Shane Louder</u> 

Name: <u>Shane Louder</u> 

Title: <u>Trustee</u> 

Date of Signature: <u>October 22, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Patrick & Linda Gelsinger Trust UAD 7/29/17**

By: <u>/s/ Patrick P. Gelsinger</u> 

Name: <u>Patrick P. Gelsinger</u> 

Title: <u>Trustee</u> 

Date of Signature: <u>October 21, 2025</u> 

By: <u>/s/ Linda Gelsinger</u> 

Name: <u>Linda Gelsinger</u> 

Title: <u>Trustee</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Pearl Street Trust**

By: <u>/s/ Scott Beck</u> 

Name: <u>Scott Beck</u> 

Title: <u>Trustee</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Phillip W. Cook**

By: <u>/s/ Phillip W. Cook</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Riverbridge Partners LLC 401(k) Plan fbo Mark A. Thompson**

By: <u>/s/ Mark A. Thompson</u> 

Name: <u>Mark A. Thompson</u> 

Title: <u>Trustee</u> 

Date of Signature: <u>October 28, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Robert O. Naegele III Revocable Trust**

By: <u>/s/ Robert O. Naegele III</u> 

Name: <u>Robert O. Naegele III</u> 

Title: <u>Trustee</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Ron L. Braund**

By: <u>/s/ Ron L. Braund</u> 

Date of Signature: <u>October 28, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Scott and Joanie Cahill (TIC)**

By: <u>/s/ Scott Cahill</u> 

Name: <u>Scott Cahill</u> 

Date of Signature: <u>October 22, 2025</u> 

By: <u>/s/ Joanie Cahill</u> 

Name: <u>Joanie Cahill</u> 

Date of Signature: <u>October 23, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Scott Barrett**

By: <u>/s/ Scott Barrett</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Scott Helbing**

By: <u>Scott Helbing</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Sean D. Stepelton Irrevocable Wealth Trust**

By: <u>/s/ Sean D. Stepelton</u> 

Name: <u>Sean D. Stepelton</u> 

Title: <u>Trustee</u> 

Date of Signature: <u>October 22, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Summit Fund, LLC**

By: <u>/s/ Christopher Bragg</u> 

Name: <u>Christopher Bragg</u> 

Title: <u>Manager</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Terry Lynn Leprino Revocable Trust 13**

By: <u>/s/ Terry Leprino</u> 

Name: <u>Terry Leprino</u> 

Title: <u>Trustee</u> 

Date of Signature: <u>October 22, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**The 1440 Foundation**

By: <u>/s/ Scott Kriens</u> 

Name: <u>Scott Kriens</u> 

Title: <u>Director</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Thomas J. Vande Guchte Revocable Trust**

By: <u>/s/ Thomas J. Vande Guchte</u> 

Name: <u>Thomas J. Vande Guchte</u> 

Title: <u>Trustee</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**WC Gloo Fund, LLC**

By: <u>/s/ Norwood Davis</u> 

Name: <u>Norwood Davis</u> 

Title: <u>Manager</u> 

Date of Signature: <u>October 24, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**William B. Kent**

By<u>: /s/ William B. Kent</u> 

Date of Signature: <u>October 22, 2025</u> 

**Signature Page to<br>the Amendment**

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**In Witness Whereof,** the parties hereto have executed this **Omnibus Amendment to Amended and Restated Note Purchase Agreement, as Amended, and Secured Promissory Notes** as of the date set forth in the first paragraph hereof.

**Requisite Purchasers:**

**Harold W. Rowe**

By: <u>/s/ Harold W. Rowe</u> 

Date of Signature: <u>October 21, 2025</u> 

**Signature Page to<br>the Amendment**

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**EXHIBIT A**

**Form of Secured Promissory Note**

------

**THIS SECURED PROMISSORY NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND HAS NOT BEEN REGISTERED UNDER ANY STATE SECURITIES LAWS. NO SALE OR DISPOSITION OF THIS NOTE MAY BE EFFECTED EXCEPT IN COMPLIANCE WITH RULE 144 UNDER THE SECURITIES ACT OR AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL FOR THE HOLDER SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OR RECEIPT OF A NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION.**

**GLOO HOLDINGS, LLC**

**SECURED PROMISSORY NOTE**

**$_______________.00 [_________ __], 2025**

FOR VALUE RECEIVED, **Gloo Holdings, LLC**, a Delaware limited liability company (the "**Company**"), unconditionally promises to pay to the order of _______________ or [his, her or its] permitted assigns (the "**Holder**") the principal sum of **$___________.00** together with all accrued and unpaid interest (the **"Outstanding Loan Amount"**) as set forth in this Secured Promissory Note (the **"Note"**). Interest shall commence upon receipt of proceeds and shall continue on the outstanding principal balance hereof until paid in full. The principal balance of this Note together with the accrued interest thereon shall be due and payable on the dates and in the manner set forth below.

This Note is one of the secured promissory notes (collectively, the "**Notes**") referred to in, and is executed and delivered in connection with, that certain Amended and Restated Note Purchase Agreement, dated as of June 23, 2025 (as the same may from time to time be amended, modified or supplemented or restated, the "**Purchase Agreement**") executed by the Company and the purchasers named therein, including the Holder (the "**Purchasers**"). Additional rights and obligations of the Holder are set forth in the Purchase Agreement. Capitalized terms not otherwise defined herein shall have the meanings set forth in the Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. Maturity; Extensions; Payments; Prepayment; Waiver of Presentment**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) Maturity Date**. At any time on or after April 23, 2027 (the "**Maturity Date**"), if this Note has not been paid in full, the Holder may elect to either (i) demand, upon thirty (30) days' written notice to the Company, payment of the entire outstanding principal balance of this Note together with all accrued and unpaid interest thereon or (ii) continue to hold the Note and interest shall continue to accrue on the unpaid principal balance hereof until such time when this Note is paid in full.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) Payments**. Interest on the Outstanding Loan Amount shall accrue from the date hereof until the Notes are repaid in full at an interest rate *per annum* equal to 1-Month SOFR <u>plus</u> 8.00% (the "**Accrual Rate**"), accruing on a daily basis. For purposes hereof, "**1-Month SOFR**" shall be the greater of (i) 1% and (ii) the forward-looking term rate for a 1-month term based on the secured overnight financing rate on the first business day of each calendar quarter,

------

that has been selected or recommended by the Federal Reserve Board or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve Board or the Federal Reserve Bank of New York, or any successor thereto (and as published on any publicly available source or website that Holder may select in its discretion). Such interest shall be paid quarterly in arrears (each such date, an "**Interest Payment Date**"), as follows: (a) in cash to the Holder ("**Cash Interest**") at a fixed rate of 8.00% per annum (the "**Cash Interest Rate**"), and (b) by increasing the outstanding principal amount of this Note by an amount (the "**PIK Interest**") equal to the difference between (i) interest accruing at the Accrual Rate and (ii) interest accruing at the Cash Pay Interest Rate for such quarterly period. Any interest due on an Interest Payment Date that is not paid by the Company as Cash Interest on such Interest Payment Date shall be deemed paid as PIK Interest with no further action required on the part of the Company. Following an increase in the Outstanding Loan Amount as a result of PIK Interest, this Note shall bear interest on such increased Outstanding Loan Amount from and after the date of such Interest Payment Date. Any payment of interest due and payable on an Interest Payment Date that is not a business day shall be due and payable on the first business day occurring after such Interest Payment Date and interest shall continue to accrue on the principal amount of this Note until, and shall be due and payable on, such business day. Company shall pay the principal of and the accrued and unpaid interest on the Note in cash in full on the Maturity Date, or such later date when the obligations of this Note become due and payable pursuant to Section 1(a) above. All payments of principal and interest (for the avoidance of doubt, as and when payable in cash) shall be in lawful money of the United States of America and shall be payable at the address of the Holder set forth herein, unless another place of payment shall be specified in writing by the Holder. All cash payments with respect to this Note shall be applied first to any fees or expenses due to the Holder arising hereunder, second to accrued Cash Interest (including any interest that accrues after the commencement of a proceeding by or against the Company under Title 11 of the United States Code), and third to the outstanding principal balance hereof (including any principal resulting from PIK Interest). If any payment on this Note becomes due on a Saturday, Sunday or a public holiday under the laws of the State of Delaware, such payment shall be made on the next succeeding business day and such extension of time shall be included in computing interest in connection with such payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) Prepayment.** This Note may be prepaid, in whole or in part, by the Company at any time prior to the Maturity Date and from time to time without the consent of the Holder and without penalty provided that, prior to any prepayment, the Company shall provide at least fifteen (15) days prior written notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) Waiver**. The Company hereby waives demand, notice, presentment, protest and notice of dishonor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. Corporate Transaction.** Other than with respect to (x) a Qualified IPO or (y) a consolidation or merger of the Company with or into any other corporation or other entity or person, or any other corporate reorganization, in each case, undertaken in connection with the Gloo Holdings IPO, in the event that (i) the Company enters into an agreement pertaining to or consummates (in each case, including by way of a division or plan of division under Delaware law or any comparable event under a different jurisdiction's laws) (a) a sale, lease or other disposition of all or substantially all of its assets or (b) a consolidation or merger of the Company with or into any other corporation or other entity or person, or any other corporate reorganization, in which the

------

equity holders of the Company immediately prior to such consolidation, merger or reorganization own less than 50% of the voting power of the surviving entity immediately after such consolidation, merger or reorganization or, if the surviving or resulting entity is a wholly owned subsidiary of another entity immediately following such merger or consolidation, the parent entity of such surviving or resulting entity (each such event being referred to herein as a "**Corporate Transaction**"), and (ii) the Note has not been paid in full, then, before any distribution or payment is made to the holders of equity securities of the Company, the Required Purchasers may require that the Company pay to Holder an amount equal to the principal balance of the Note then outstanding, plus unpaid accrued interest thereon through the date of such Corporate Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. Security Interest.** The full amount of this Note is secured by the "Collateral" identified and described as security therefor in that certain Amended and Restated Security Agreement executed by and delivered by the Company on or about the date hereof (the "**Security Agreement**"), which Collateral includes but is not limited to a first priority secured interest in all of the Company's Intellectual Property (as such term is defined in the Security Agreement). The Company shall not, directly or indirectly, create, permit or suffer to exist, and shall defend the Collateral against and take such other action as is necessary to remove, any Encumbrance on or in the Collateral, or in any portion thereof, except as permitted pursuant to the Security Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. Usury.** In no event shall the interest rate or rates payable under this Note, plus any other amounts paid in connection herewith and therewith, exceed the highest rate permissible under any law that a court of competent jurisdiction shall, in a final determination, deem applicable. The Company and the Holder, in executing and delivering this Note, intend legally to agree upon the rate or rates of interest and manner of payment stated within this Note; *provided*, *however*, that, anything contained herein to the contrary notwithstanding, if said rate or rates of interest or manner of payment exceeds the maximum allowable under applicable law, then, *ipso facto,* as of the date of this Note, the Company is and shall be liable only for the payment of such maximum as allowed by law, and payment received from the Company in excess of such legal maximum, whenever received, shall be applied to reduce the principal balance of any remaining obligations to the extent of such excess.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. Miscellaneous**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) Successors and Assigns**. The terms and conditions of this Note shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Notwithstanding the foregoing, neither the Company or the Holder may, assign, exchange or transfer, by operation of law or otherwise, their respective rights or obligations under this Note (whether voluntarily or involuntarily), *provided*, *however*, that (x) the Holder's rights or obligations under this Note may be sold, assigned, exchanged or transferred (i) by will or intestacy from the Holder to the Holder's immediate family members, to a trust for the benefit of the Holder or the Holder's immediate family members or to a limited partnership, the partners of which are the Holder's immediate family members, (ii) from the Holder, if an entity, to the Holder's equity owners; (iii) to an affiliate (including affiliate funds), a shareholder, partner (or retired partner) or member (or retired member) of such Holder, or transfers by gift, will or intestate succession to any spouse or lineal descendants or ancestors; (iv) to Pearl Street Trust or any of its affiliates (including, without limitation, Scott Beck); and (v) with the express written consent of the Company and (y) the Company's rights or obligations under this Note may be sold, assigned,

------

exchanged or transferred to Gloo Holdings, Inc. without the consent of any Holder; *provided*, that in each case the transferee agrees in writing to be subject to the terms of this Note to the same extent as if such transferee were the Holder or the Company hereunder, as applicable. Any sale, assignment, exchange or transfer of this Note by the Company or the Holder in contravention of this Section 5(a) shall be void and ineffectual *ab initio*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) Governing Law.** This Note shall be governed by and construed under the laws of the State of Colorado as applied to agreements among Colorado residents, made and to be performed entirely within the State of Colorado.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) Titles and Subtitles**. The titles and subtitles used in this Note are used for convenience only and are not to be considered in construing or interpreting this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) Amendment and Waiver**. This Note may be amended as set forth in Section 7.7 of the Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e) Cumulative Remedies**. The Holder's rights and remedies hereunder shall be cumulative. The Holder shall have all other rights and remedies not inconsistent herewith as provided under the UCC (as defined in the Security Agreement, as defined in the Purchase Agreement), by law or in equity. No exercise by the Holder of one right or remedy shall be deemed an election, and no waiver by the Holder of any Event of Default shall be deemed a continuing waiver.

**[Remainder of Page Intentionally Left Blank; Signature Page to Follow]**

------

**In Witness Whereof**, the Company has caused this **Secured Promissory Note** to be duly executed and delivered as of the date first set forth above.

**Gloo Holdings, LLC**

By:

Name: Stuart Fullinwider

Title: Authorized Signatory

**Agreed and Accepted By:**

**[***•***]**

By:

Name:

Title:

Address:

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## Exhibit 10.17

**Exhibit 10.17**

**THIS SECURED PROMISSORY NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND HAS NOT BEEN REGISTERED UNDER ANY STATE SECURITIES LAWS. NO SALE OR DISPOSITION OF THIS NOTE MAY BE EFFECTED EXCEPT IN COMPLIANCE WITH RULE 144 UNDER THE SECURITIES ACT OR AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL FOR THE HOLDER SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OR RECEIPT OF A NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION.**

**GLOO HOLDINGS, LLC**

**SECURED PROMISSORY NOTE**

**$_______________.00 [_________ __], 2025**

FOR VALUE RECEIVED, **Gloo Holdings, LLC**, a Delaware limited liability company (the "**Company**"), unconditionally promises to pay to the order of _______________ or [his, her or its] permitted assigns (the "**Holder**") the principal sum of **$___________.00** together with all accrued and unpaid interest (the **"Outstanding Loan Amount"**) as set forth in this Secured Promissory Note (the **"Note"**). Interest shall commence upon receipt of proceeds and shall continue on the outstanding principal balance hereof until paid in full. The principal balance of this Note together with the accrued interest thereon shall be due and payable on the dates and in the manner set forth below.

This Note is one of the secured promissory notes (collectively, the "**Notes**") referred to in, and is executed and delivered in connection with, that certain Amended and Restated Note Purchase Agreement, dated as of June 23, 2025 (as the same may from time to time be amended, modified or supplemented or restated, the "**Purchase Agreement**") executed by the Company and the purchasers named therein, including the Holder (the "**Purchasers**"). Additional rights and obligations of the Holder are set forth in the Purchase Agreement. Capitalized terms not otherwise defined herein shall have the meanings set forth in the Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. Maturity; Extensions; Payments; Prepayment; Waiver of Presentment**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) Maturity Date**. At any time on or after April 23, 2027 (the "**Maturity Date**"), if this Note has not been paid in full, the Holder may elect to either (i) demand, upon thirty (30) days' written notice to the Company, payment of the entire outstanding principal balance of this Note together with all accrued and unpaid interest thereon or (ii) continue to hold the Note and interest shall continue to accrue on the unpaid principal balance hereof until such time when this Note is paid in full.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) Payments**. Interest on the Outstanding Loan Amount shall accrue from the date hereof until the Notes are repaid in full at an interest rate *per annum* equal to 1-Month SOFR <u>plus</u> 8.00% (the "**Accrual Rate**"), accruing on a daily basis. For purposes hereof, "**1-Month SOFR**" shall be the greater of (i) 1% and (ii) the forward-looking term rate for a 1-month term based on the secured overnight financing rate on the first business day of each calendar quarter,

------

that has been selected or recommended by the Federal Reserve Board or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve Board or the Federal Reserve Bank of New York, or any successor thereto (and as published on any publicly available source or website that Holder may select in its discretion). Such interest shall be paid quarterly in arrears (each such date, an "**Interest Payment Date**"), as follows: (a) in cash to the Holder ("**Cash Interest**") at a fixed rate of 8.00% per annum (the "**Cash Interest Rate**"), and (b) by increasing the outstanding principal amount of this Note by an amount (the "**PIK Interest**") equal to the difference between (i) interest accruing at the Accrual Rate and (ii) interest accruing at the Cash Pay Interest Rate for such quarterly period. Any interest due on an Interest Payment Date that is not paid by the Company as Cash Interest on such Interest Payment Date shall be deemed paid as PIK Interest with no further action required on the part of the Company. Following an increase in the Outstanding Loan Amount as a result of PIK Interest, this Note shall bear interest on such increased Outstanding Loan Amount from and after the date of such Interest Payment Date. Any payment of interest due and payable on an Interest Payment Date that is not a business day shall be due and payable on the first business day occurring after such Interest Payment Date and interest shall continue to accrue on the principal amount of this Note until, and shall be due and payable on, such business day. Company shall pay the principal of and the accrued and unpaid interest on the Note in cash in full on the Maturity Date, or such later date when the obligations of this Note become due and payable pursuant to Section 1(a) above. All payments of principal and interest (for the avoidance of doubt, as and when payable in cash) shall be in lawful money of the United States of America and shall be payable at the address of the Holder set forth herein, unless another place of payment shall be specified in writing by the Holder. All cash payments with respect to this Note shall be applied first to any fees or expenses due to the Holder arising hereunder, second to accrued Cash Interest (including any interest that accrues after the commencement of a proceeding by or against the Company under Title 11 of the United States Code), and third to the outstanding principal balance hereof (including any principal resulting from PIK Interest). If any payment on this Note becomes due on a Saturday, Sunday or a public holiday under the laws of the State of Delaware, such payment shall be made on the next succeeding business day and such extension of time shall be included in computing interest in connection with such payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) Prepayment.** This Note may be prepaid, in whole or in part, by the Company at any time prior to the Maturity Date and from time to time without the consent of the Holder and without penalty provided that, prior to any prepayment, the Company shall provide at least fifteen (15) days prior written notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) Waiver**. The Company hereby waives demand, notice, presentment, protest and notice of dishonor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. Corporate Transaction.** Other than with respect to (x) a Qualified IPO or (y) a consolidation or merger of the Company with or into any other corporation or other entity or person, or any other corporate reorganization, in each case, undertaken in connection with the Gloo Holdings IPO, in the event that (i) the Company enters into an agreement pertaining to or consummates (in each case, including by way of a division or plan of division under Delaware law or any comparable event under a different jurisdiction's laws) (a) a sale, lease or other disposition of all or substantially all of its assets or (b) a consolidation or merger of the Company with or into any other corporation or other entity or person, or any other corporate reorganization, in which the

------

equity holders of the Company immediately prior to such consolidation, merger or reorganization own less than 50% of the voting power of the surviving entity immediately after such consolidation, merger or reorganization or, if the surviving or resulting entity is a wholly owned subsidiary of another entity immediately following such merger or consolidation, the parent entity of such surviving or resulting entity (each such event being referred to herein as a "**Corporate Transaction**"), and (ii) the Note has not been paid in full, then, before any distribution or payment is made to the holders of equity securities of the Company, the Required Purchasers may require that the Company pay to Holder an amount equal to the principal balance of the Note then outstanding, plus unpaid accrued interest thereon through the date of such Corporate Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. Security Interest.** The full amount of this Note is secured by the "Collateral" identified and described as security therefor in that certain Amended and Restated Security Agreement executed by and delivered by the Company on or about the date hereof (the "**Security Agreement**"), which Collateral includes but is not limited to a first priority secured interest in all of the Company's Intellectual Property (as such term is defined in the Security Agreement). The Company shall not, directly or indirectly, create, permit or suffer to exist, and shall defend the Collateral against and take such other action as is necessary to remove, any Encumbrance on or in the Collateral, or in any portion thereof, except as permitted pursuant to the Security Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. Usury.** In no event shall the interest rate or rates payable under this Note, plus any other amounts paid in connection herewith and therewith, exceed the highest rate permissible under any law that a court of competent jurisdiction shall, in a final determination, deem applicable. The Company and the Holder, in executing and delivering this Note, intend legally to agree upon the rate or rates of interest and manner of payment stated within this Note; *provided*, *however*, that, anything contained herein to the contrary notwithstanding, if said rate or rates of interest or manner of payment exceeds the maximum allowable under applicable law, then, *ipso facto,* as of the date of this Note, the Company is and shall be liable only for the payment of such maximum as allowed by law, and payment received from the Company in excess of such legal maximum, whenever received, shall be applied to reduce the principal balance of any remaining obligations to the extent of such excess.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. Miscellaneous**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) Successors and Assigns**. The terms and conditions of this Note shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Notwithstanding the foregoing, neither the Company or the Holder may, assign, exchange or transfer, by operation of law or otherwise, their respective rights or obligations under this Note (whether voluntarily or involuntarily), *provided*, *however*, that (x) the Holder's rights or obligations under this Note may be sold, assigned, exchanged or transferred (i) by will or intestacy from the Holder to the Holder's immediate family members, to a trust for the benefit of the Holder or the Holder's immediate family members or to a limited partnership, the partners of which are the Holder's immediate family members, (ii) from the Holder, if an entity, to the Holder's equity owners; (iii) to an affiliate (including affiliate funds), a shareholder, partner (or retired partner) or member (or retired member) of such Holder, or transfers by gift, will or intestate succession to any spouse or lineal descendants or ancestors; (iv) to Pearl Street Trust or any of its affiliates (including, without limitation, Scott Beck); and (v) with the express written consent of the Company and (y) the Company's rights or obligations under this Note may be sold, assigned,

------

exchanged or transferred to Gloo Holdings, Inc. without the consent of any Holder; *provided*, that in each case the transferee agrees in writing to be subject to the terms of this Note to the same extent as if such transferee were the Holder or the Company hereunder, as applicable. Any sale, assignment, exchange or transfer of this Note by the Company or the Holder in contravention of this Section 5(a) shall be void and ineffectual *ab initio*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) Governing Law.** This Note shall be governed by and construed under the laws of the State of Colorado as applied to agreements among Colorado residents, made and to be performed entirely within the State of Colorado.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) Titles and Subtitles**. The titles and subtitles used in this Note are used for convenience only and are not to be considered in construing or interpreting this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) Amendment and Waiver**. This Note may be amended as set forth in Section 7.7 of the Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e) Cumulative Remedies**. The Holder's rights and remedies hereunder shall be cumulative. The Holder shall have all other rights and remedies not inconsistent herewith as provided under the UCC (as defined in the Security Agreement, as defined in the Purchase Agreement), by law or in equity. No exercise by the Holder of one right or remedy shall be deemed an election, and no waiver by the Holder of any Event of Default shall be deemed a continuing waiver.

**[Remainder of Page Intentionally Left Blank; Signature Page to Follow]**

------

**In Witness Whereof**, the Company has caused this **Secured Promissory Note** to be duly executed and delivered as of the date first set forth above.

**Gloo Holdings, LLC**

By:

Name: Stuart Fullinwider

Title: Authorized Signatory

**Agreed and Accepted By:**

**TBD**

By:

Name:

Title:

Address:

------

## Exhibit 23.1

**Exhibit 23.1**

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We consent to the use in this Registration Statement of Gloo Holdings, Inc. on Form S-1 of our report dated July 23, 2025 on the consolidated financial statements of Gloo Holdings, LLC and to the reference to us under the heading "Experts" in the prospectus.

/s/ Crowe LLP

Los Angeles, California

October 30, 2025

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## Exhibit 23.2

**Exhibit 23.2**

CONSENT OF INDEPENDENT AUDITOR

We consent to the use in this Registration Statement of Gloo Holdings, Inc. on Form S-1 of our report dated July 23, 2025 on the financial statements of Midwestern Interactive, LLC and to the reference to us under the heading "Experts" in the prospectus.

/s/ Crowe LLP

Los Angeles, California

October 30, 2025

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## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

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|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **S-1**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gloo Holdings, Inc.**  |

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Class Title**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Calculation or Carry Forward Rule**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount Registered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Proposed Maximum Offering Price Per Unit**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maximum Aggregate Offering Price**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Rate**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Registration Fee**  |
| **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** |
| Fees to be Paid | 1 | Equity | Class A common stock, $0.001 par value per share | 457(a) | 12558000 | $12.00 | $150696000.00 | 0.0001381 | $20811.12 |
| Fees Previously Paid | 2 | Equity | Class A common stock, $0.001 par value per share | 457(o) |  |  | $1.00 |  | $0.00 |
| **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** |
| Carry Forward Securities |  |  |  |  |  |  |  |  |  |
|  |  |  | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $150696001.00  |  | $20811.12  |
|  |  |  | Total Fees Previously Paid:  | Total Fees Previously Paid:  | Total Fees Previously Paid:  |  |  |  | $13810.00  |
|  |  |  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
|  |  |  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $7001.12  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offering Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> Includes an additional 1,365,000 shares of our Class A common stock that the underwriters have the option to purchase and an additional 2,093,000 shares of our Class A common stock that may be issued and sold if the number of shares in this offering is increased, including a corresponding increase in the underwriters' option to purchase additional shares. Estimated solely for the purpose of calculating the registration fee in accordance with Rule 457(a) of the Securities Act of 1933, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>2</sup> We previously paid a registration fee of $13,810 in connection with the initial filing of this Registration Statement on Form S-1 on October 17, 2025.

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| | |
|:---|:---|
| | |
| **Rules 457(b) and 0-11(a)(2)** | **Rules 457(b) and 0-11(a)(2)** |
| Fee Offset Claims | N/A |
| Fee Offset Sources | N/A |
| **Rule 457(p)** | **Rule 457(p)** |
| Fee Offset Claims | N/A |
| Fee Offset Sources | N/A |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Class Title**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Securities Previously Registered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maximum Aggregate Offering Price of Securities Previously Registered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Form Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **File Number**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Initial Effective Date**  |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |

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