Informatica Inc at Morgan Stanley Technology, Media & Telecom Conference Summary

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

Question: Sean Diffley - Morgan Stanley & Co LLC - Analyst : So can you tell us the journey of this last year, what you've learned, what you expected and what maybe we didn't go up to expectations?

Question: Sean Diffley - Morgan Stanley & Co LLC - Analyst : Yeah. Maybe we can talk about this final leg, the -- you talked about the third leg in the transformation. What's going to happen in this third leg? Why are we at this transformation? You gave a bit of history of how we got here, but it would be good to just double-click on that.

Question: Sean Diffley - Morgan Stanley & Co LLC - Analyst : That's super clear. So there's an incredible traction and at scale, $800 million, just say, on the cloud alone is huge. So whatever percent of that growth is net new is incredible, probably dwarfs what many of these start-ups are doing. And you've got this incredible tailwind happening there. At the same time, Mike, maybe to you, the quarter had a lot of noise around it. And I think what would be really helpful in this session is to go through a little bit what happened, but really explain what's idiosyncratic for that quarter, what's enduring and maybe there is some things and like frame that for us in short term, medium term because you've got this incredible long-term tailwind that seems to be happening as Amit is talking about, but I think it -- there was a bit of murkiness in the last quarter that confused investors.

Question: Sean Diffley - Morgan Stanley & Co LLC - Analyst : Yeah. In many respects, some of those are long-term good for the business. So think about the modernization, those things are actually great because they're going to be long-term enduring customers. You talk about this uplift multiple that happens when people transfer. I think most people will agree, it makes sense to give them credit. So how should we think about how those things will continue, why people are now choosing to modernize and how to think about the credit the multiple 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. MARCH 03, 2025 / 11:20PM, INFA.N - Informatica Inc at Morgan Stanley Technology, Media & Telecom Conference

Question: Sean Diffley - Morgan Stanley & Co LLC - Analyst : Awesome. Now I'm going to shift gears and go back to some of the fundamentals here. What really drives the software company's valuation is really winning new customers and expanding existing customers. And you mentioned we have so many of them to talk about. So maybe could we share a little bit about what have been the nature of some of these new expansions or some of these new wins? Why do they come choose Informatica, JetBlue, maybe others? And why do you keep winning in this regard?

Question: Sean Diffley - Morgan Stanley & Co LLC - Analyst : I appreciate going into the detail. You've already hinted the AI, so we have to go there next. What are AI workloads you're seeing people do? Like what is someone actually building using AI and using Informatica? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 03, 2025 / 11:20PM, INFA.N - Informatica Inc at Morgan Stanley Technology, Media & Telecom Conference

Question: Sean Diffley - Morgan Stanley & Co LLC - Analyst : Okay. And what about this Gen AI blueprint? So you put this out, it's going to be available in the cloud. Some people won't really

Question: Sean Diffley - Morgan Stanley & Co LLC - Analyst : What's the feedback been so far?

Question: Sean Diffley - Morgan Stanley & Co LLC - Analyst : And maybe just linked to some of the announcement, you mentioned how much of CLAIRE, for example, is being used internationally. I think it was 10%. How do you think about the international opportunity here? One, for the AI products you're building and two, just in general, international for Informatica?

Question: Sean Diffley - Morgan Stanley & Co LLC - Analyst : Perfect. And Mike, maybe staying with you a little bit. One of the big things you guys did many years ago was the IPU. And it's now been many, many years. It allows you to interoperably use different modules on the platform. It's one different pricing unit. What do you think the impact has been this year? How do you think it's progressing? We talked about it last year, but what's the progress? Is it a home run success? Is there still stuff to do? Do you think the whole market has now moved to the IPU?

Question: Sean Diffley - Morgan Stanley & Co LLC - Analyst : Maybe on the topic of -- you guys are one of the best examples of a multiproduct platform. There are a lot of things you can do in Informatica. You gave some stats just there of some of the progression for the IPU-based business. What does it look like overall? And what does it look like for a customer to start adopting 10-plus products or something? Do you have any like that? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 03, 2025 / 11:20PM, INFA.N - Informatica Inc at Morgan Stanley Technology, Media & Telecom Conference

Question: Sean Diffley - Morgan Stanley & Co LLC - Analyst : Maybe then related to that question, how big can certain customers get? What do you think the possibility --

Question: Sean Diffley - Morgan Stanley & Co LLC - Analyst : What do you think the main driver of expansion is going to be? Is it going to be just data increasing, driving more compute? Is it different modules being used? Or is it just going to like different sub teams within a massive company? I know they're all slightly different, but what do you think is the big one?

Question: Sean Diffley - Morgan Stanley & Co LLC - Analyst : And what do you think about the world today in the data space? Is it going to get more fragmented or less fragmented in the next few years?

Question: Sean Diffley - Morgan Stanley & Co LLC - Analyst : Fragmentation helps you, too.

Question: Sean Diffley - Morgan Stanley & Co LLC - Analyst : That makes a ton of sense. Take some questions quickly. You can just read out. Unidentified Participant (inaudible - microphone inaccessible)

Question: Sean Diffley - Morgan Stanley & Co LLC - Analyst : Maybe one thing before we wrap up. What are you most excited about for 2025?

Question: Sean Diffley - Morgan Stanley & Co LLC - Analyst : Anything you'd like to add?

Question: Sean Diffley - Morgan Stanley & Co LLC - Analyst : Amazing. Well, thank you both for coming, and thanks again for coming here.