Shutterstock Enters into Definitive Agreement to Acquire Envato, Featuring Envato Elements, the Unlimited Creative Content Subscription - Seite 2

Strategic Highlights:

• Complements Shutterstock's existing offering with Envato Elements, a leading unlimited multi-asset subscription offering

• Expands Shutterstock's reach within faster growing audiences such as freelancers, hobbyists, small businesses and agencies

• Adds 650k subscribers, more than doubling Shutterstock's subscriber base to 1.15 million

• Increases Shutterstock's Content revenue from video, audio, graphics, fonts and templates

• Bolsters Shutterstock's content library with 10 million images, 6 million videos, 1 million audio clips, 0.5 million templates and 0.2 million graphics & fonts

• Further diversifies Shutterstock into new content types including code & web themes, product mock-ups, fonts and templates (e.g. Slides, Powerpoint, Keynote, Wordpress, video, designs for social posts, gaming, podcasts and print-on-demand)

Transaction Highlights:

• $245 million cash purchase of 100% of Envato Pty Ltd at closing, after customary working capital and other adjustments

• Expected to accelerate path to Shutterstock's 2027 long-term targets with Envato adding 20% to annual revenues and 15% to annual adjusted EBITDA

• Financing via a $375 million credit facility with expected drawn leverage of 0.7x net debt to 2024 combined adjusted EBITDA

• Expected transaction closing in the third quarter, subject to customary closing conditions

Additional Information:

Investors can find a link to the presentation material on the Envato acquisition at: https://investor.shutterstock.com.

Financing Sources and Advisors:

Financing for the transaction will be provided by Bank of America, Citigroup, Wells Fargo, and Citizens. CapM Advisors and White & Case LLP acted as financial advisor and legal advisor, respectively, to Shutterstock. Drake Star Partners and Goodwin Procter LLP and King & Wood Mallesons acted as financial advisor and legal advisors, respectively, to Envato.

ABOUT SHUTTERSTOCK

Shutterstock, Inc. (NYSE: SSTK) is a leading global creative platform offering high-quality creative content for transformative brands, digital media and marketing companies. Fueled by millions of creators around the world, a growing data engine and a dedication to product innovation, Shutterstock is the leading global platform for licensing from the most extensive and diverse collection of high-quality 3D models, videos, music, photographs, vectors and illustrations. From the world's largest content marketplace, to breaking news and A-list entertainment editorial access, to all-in-one content editing platform and studio production services—all using the latest in innovative technology—Shutterstock offers the most comprehensive selection of resources to bring storytelling to life.