DoubleVerify Holdings Inc at Goldman Sachs Communacopia & Technology Conference Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Eric Sheridan - Goldman Sachs Group, Inc. - Analyst : <_ALACRA_META_ABSTRACT>Okay. Always enjoy a chance to catch up with you a regular participant so it would appreciate when you want to come and be part of the conference. I always do like to start by just kicking off for those that are new to the story. There's openly moving pieces with respect to double DoubleVerify. You've been on this journey as a company over the last couple of years. Why don't you level set with the journey you've been on and sort of where the company is right now in its evolution?

Question: Eric Sheridan - Goldman Sachs Group, Inc. - Analyst : And how should investors think about that framework scaling in the years ahead. So obviously, you now put all these pieces in place. You had a really insightful Investor Day just a couple of months ago. How should investors think about the narrative building on its momentum as the execution meets the strategy?

Question: Eric Sheridan - Goldman Sachs Group, Inc. - Analyst : Okay. I will need to ask about sort of just the current ad environment role operating in. I think this has been a big debate point over the first 1.5 days or so of the conference. Level set for us what you as a company are seeing in the current operating environment. And how that might be distinction out there between types of advertisers, types of advertising solutions where you might see some nuance in the operating environment?

Question: Eric Sheridan - Goldman Sachs Group, Inc. - Analyst : Yes. Understood. In your control versus (inaudible) control, very clear. Now turning to some of the building blocks of the business, let's go in that direction. Social media activation, especially prebid solutions. I think there's an area that gets a lot of focus from investors. Talk a little bit about the current landscape in that business, but more importantly, how you see it evolving and scaling in the years ahead?

Question: Eric Sheridan - Goldman Sachs Group, Inc. - Analyst : Okay. Understood on the differentiation. Let's talk about two of the bigger growth areas in advertising large, our CTV and retail media your relative exposure level to those engines of growth in the broader digital advertising landscape and how you see the evolution of your mix or exposure to that in years ahead?

Question: Eric Sheridan - Goldman Sachs Group, Inc. - Analyst : Okay. And with respect to retail media in particular as well.

Question: Eric Sheridan - Goldman Sachs Group, Inc. - Analyst : Okay. We're at technology conference. We have to talk about AI. Talk to me a little bit, and you alluded to a little bit in your first answer, but I want to a little bit deeper in terms of how you guys are thinking about aligning AI with solving and providing solutions to what advertisers are trying to get out of their decision-making process?

Question: Eric Sheridan - Goldman Sachs Group, Inc. - Analyst : So building on the concept of the data advantages you have and the client focus you have, talk a little bit about DV authentic Advantage feeding off of that strategy and how you think about that scaling as well?

Question: Eric Sheridan - Goldman Sachs Group, Inc. - Analyst : Okay. Understood. At Innovation Day, you did talk about Agentic AI as well and the rise of Agentic AI, the role that might play in the broader advertising ecosystem going forward. For those who weren't able to tune in, tease that out a little bit in terms of what did you introduce? And how should we be thinking about that becoming a component of your offering in the years ahead as well? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 09, 2025 / 3:50PM, DV.N - DoubleVerify Holdings Inc at Goldman Sachs Communacopia & Technology Conference

Question: Eric Sheridan - Goldman Sachs Group, Inc. - Analyst : So tease this out. It is a debate I've had with some investors at the conference this week. What are the challenges around brand safety that's tied to human-created content versus brand safety tied to computer-created content, because I think the element of not wanting to show up next to hallucination, but you don't know that the hallucination even exists yet. How does that present both an opportunity and a challenge when you think about Agentic AI?

Question: Eric Sheridan - Goldman Sachs Group, Inc. - Analyst : Got it. I want to turn next to the continued runway for ABS -- and how you think about the opportunity set there continuing to evolve in the years ahead.

Question: Eric Sheridan - Goldman Sachs Group, Inc. - Analyst : Just to double click on that, because we do get this question from investors. When you think about how that product has surprised to the upside. What have been the key learnings as to the why it's surprised to the upside? I don't know we typically try to talk more going forward than going back I think investors do ask that question a fair bit.

Question: Eric Sheridan - Goldman Sachs Group, Inc. - Analyst : Got it. Coming out of Innovation Day, and we've been talking about DV Media Advantage with large and sort of the pillars of the strategy. If you play this out to its end state, what's the market opportunity you think it opens up for you in terms of either scale of advertisers or scale of advertiser activity, however you want to measure it versus the size of the business today? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 09, 2025 / 3:50PM, DV.N - DoubleVerify Holdings Inc at Goldman Sachs Communacopia & Technology Conference

Question: Eric Sheridan - Goldman Sachs Group, Inc. - Analyst : Okay. Understood. No, very, very clear and interesting dynamic to play out over multiple years. So we've talked so far about the growth engines, the market opportunities, where the product is going, bring us back to funding all of these growth investments but then continuing to deliver on operating efficiencies and margins and all the things investors want. Investors always seem to want the growth and the margin talk about striking that balance going forward.

Question: Eric Sheridan - Goldman Sachs Group, Inc. - Analyst : Okay. So moving from margins and sort of further down the output of the business, what are the priorities for capital generated by the business. So obviously, one of them, as you talked about, is investing back into the business, whether that's savings or degrading margins, which you have not had to do more recently. But think about what excess capital the business generates and what your key priorities are for that excess capital?

Question: Eric Sheridan - Goldman Sachs Group, Inc. - Analyst : Okay. Great. Understood. So we have a few minutes left, but I think I wanted to end on a bigger-picture topic. So this year, you guys, as a team, have framed it as a transition year, right? You're trying to get the company aligned with the strategy for the medium to long term and then these externalities on the advertising side that are sort of generally out of your control. When you think about positioning the business for moving past 2025 and into 2026 and beyond. Talk a little bit about what those strategic priorities are? And how investors should be thinking about those priorities sort of setting the business up for those future years?

Question: Eric Sheridan - Goldman Sachs Group, Inc. - Analyst : Yeah. Maybe just one quick follow-up because I do think this is a central issue. You're trying to get to where advertiser budgets and user times aren't today in terms of the mix of the business. What are the biggest unlocks that we should be looking for from the outside in, in terms of the execution path on that? Again, not to say it's a negative comment about the OpenWeb, but there's user behavior and the technological dynamics going on that the OpenWeb will be what Social is today? And how do you align against that?

Question: Eric Sheridan - Goldman Sachs Group, Inc. - Analyst : Okay. Well, I would appreciate the opportunity to have a conversation. Thanks so much for sharing all the insights into the business and what's going on. We're looking forward to 2026.

Question: Eric Sheridan - Goldman Sachs Group, Inc. - Analyst : So please join me in thanking DoubleVerify for being part of the conference this year. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 09, 2025 / 3:50PM, DV.N - DoubleVerify Holdings Inc at Goldman Sachs Communacopia & Technology Conference