Elastic Nominates Paul Auvil to Board of Directors

Former Proofpoint CFO Brings 30+ Years of Technology Industry Expertise

SAN FRANCISCO--(BUSINESS WIRE)--Elastic (NYSE: ESTC) (“Elastic”), the company behind Elasticsearch^®, today announced that it has nominated Paul Auvil to its Board of Directors. The appointment comes as the company continues to drive growth in Elastic Cloud, while investing with discipline to expand profitability.

Mr. Auvil will bring more than 35 years of finance, technology and corporate leadership experience to the Elastic Board of Directors. He served as the Chief Financial Officer of Proofpoint, Inc., a provider of security-as-a-service solutions from March 2007 until March 2023. From September 2006 to March 2007, he was an entrepreneur-in-residence at Benchmark Capital, a venture capital firm. From August 2002 to July 2006, he served as the Chief Financial Officer at VMware, Inc., a computing virtualization company. Mr. Auvil has previously served on the Boards of One Medical, OpenTV, Marin Software, and Quantum Corporation.

“Elastic is recognized around the world as the leading platform for search powered solutions,” said Mr. Auvil. “I am excited to join the leadership team as the company delivers on the promise of innovations like generative AI to enable anyone to find the answers they need in real-time using all their data, at scale.”

“Paul Auvil brings to Elastic proven financial expertise as well as a wealth of knowledge from his previous board service,” said Ash Kulkarni, CEO, Elastic. “His experience scaling organizations will be key as we look to build a generational company.”

Pursuant to Dutch law, Mr. Auvil’s election as a non-executive member of the Board of Directors is subject to a shareholder vote, to be held at the annual general shareholder meeting in October 2023 (the “2023 AGM”). Upon his election to the Board, Mr. Auvil will also be appointed to serve as the Chair of the Company’s Audit Committee and as a member of the Company’s Compensation Committee.

About Elastic

Elastic (NYSE: ESTC) is a leading platform for search-powered solutions. Elastic understands it’s the answers, not just the data. The Elasticsearch platform enables anyone to find the answers they need in real-time using all their data, at scale. Elastic delivers complete, cloud-based, AI-powered solutions for enterprise security, observability and search built on the Elasticsearch platform, the development platform used by thousands of companies, including more than 50% of the Fortune 500. Learn more at elastic.co.

Forward-Looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties, which include but are not limited to, statements regarding the nomination and appointment of Mr. Auvil, our market opportunity, assessments of the strength of our solutions and products and our future growth and profitability. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Our expectations and beliefs regarding these matters may not materialize. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of uncertainties, risks, and changes in circumstances, including but not limited to risks and uncertainties related to the future conduct and growth of Elastic’s business and the markets in which Elastic operates. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption "Risk Factors" and elsewhere in our most recent filings with the SEC, including our Annual Report on Form 10-K for the fiscal year ended April 30, 2023 and any subsequent reports filed with the SEC. SEC filings are available on the Investor Relations section of Elastic's website at ir.elastic.co and the SEC's website at www.sec.gov. Elastic assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release, except as required by law.

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