Welcome to the Spectrum Equity Management, L.P. (“Spectrum,” “we,” “us” or “our”) website at www.spectrumequity.com (the “Site”). By using this Site you acknowledge that you have read the terms and conditions of use (“Terms of Use”) set forth below and agree to be bound by such Terms of Use, without limitation, modification or qualification. These Terms of Use constitute a legally binding agreement between Spectrum and you as an individual or, if you are accessing or using the Site or Content (defined below) on behalf of another individual, organization, or entity (“Entity”), that Entity (in either case, “you” or “your”), and govern your access to and use of the Site and any Content. These Terms of Use apply to all pages of the Site. If you do not agree to be bound by these Terms of Use, do not use the Site or any information on the Site. We may, in our sole discretion, suspend or terminate your access to the Site at any time and without notice, including without limitation due to any violation by you of these Terms of Use.

By accessing or using any part of the Site or any Content, you agree to enter into and be bound by these Terms of Use and you represent and warrant to Spectrum that: (a) you have read, understand, and agree to be bound by these Terms of Use; (b) you have the legal right and authority to enter into these Terms of Use personally or on behalf of the relevant Entity, and to grant the rights and licenses described in these Terms of Use; © you are at least 18 years old; and (d) your use of and access to the Site and Content will comply with all applicable laws, rules, and regulations and will not cause Spectrum to violate any applicable laws, rules, or regulations.

Your use of or participation in certain services offered by Spectrum may be subject to a separate written agreement between you and Spectrum (“Services Agreement”). In the event of any inconsistency or conflict between a Services Agreement and these Terms of Use, the terms of the Services Agreement shall control with respect to the applicable service(s) offered by Spectrum.

REGULATORY DISCLOSURES

The content of this Site is for general, informational purposes. Spectrum Equity does not make any representation or warranty of any kind, express or implied, as to the accuracy or completeness of the information contained herein. Certain information included in this site was derived from third-party materials or other sources believed to be accurate, but no independent verification has been made of such materials or other sources. Under no circumstances should the information presented be considered an offer to sell, or a solicitation to buy, any security. Such offer or solicitation may only be made pursuant to the current offering documents for the relevant Spectrum Equity Fund (the “Fund”) which may only be provided to accredited investors and qualified purchasers as defined under the Securities Act of 1933 and the Investment Company Act of 1940. While the information provided herein is believed to be accurate and reliable, Spectrum Equity, its advisors and employees make no express warranty as to its completeness or accuracy.

Although the Site may include investment-related information, nothing on the Site is a recommendation that you purchase, sell or hold any security or other investment, or that you should pursue any investment strategy, and no information or Content (as defined below) on the Site is to be relied upon for the purpose of making or communicating investment or other decisions. Nothing on the Site is intended to be, and you should not consider anything on the Site to be investment, accounting, tax, legal or other professional advice.

This Site includes information regarding Spectrum Equity’s past and present portfolio companies. It should not be assumed that investments made in the future will be comparable in quality or performance to the investments described herein. Further, references to Spectrum Equity’s past and present portfolio companies should not be construed as a recommendation of any particular investment or security. The portfolio companies listed should not be assumed to have been profitable. Any past performance information on the Site, is not necessarily indicative, or a guarantee, of future results.

The Site may contain forward-looking statements (including those relating to current and future market conditions and trends in respect thereof) that are not historical facts and are based on current expectations, estimates, projections, opinions and/or beliefs of Spectrum Equity. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. In addition, no representation or warranty is made with respect to the reasonableness of any estimates, forecasts, illustrations, prospects or returns, which should be regarded as illustrative only, or that any profits will be realized. Actual events or results or actual performance of the relevant Fund (or any other entity referred to on the Site) may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward-looking statements in making their investment decisions. No representation or warranty is made as to future performance or such forward-looking statements.

The awards and designations presented on this website are the opinion of the respective parties conferring the award or designation and not of Spectrum Equity. These third-parties independently assess nominees based on multiple criteria. Recognitions by third-parties are not indicative of future performance. Spectrum Equity submitted a nomination and in certain cases fee to participate and/or release the results. There can be no assurance that other providers or surveys would reach the same conclusions as the particular award highlighted.

MODIFICATIONS TO THESE TERMS OF USE AND TO THE SITE

Spectrum may modify these Terms of Use with or without notice to you, and such modified agreement shall be effective immediately upon posting. Your continued access to or use of any Content, this Site, and/or any services offered through it shall be your conclusive acceptance of these Terms of Use, including any modifications.
We reserve the right from time to time to make changes to the Site or Content, including but not limited to discontinuing, temporarily or permanently, any Content, information or service offered by us or through the Site, with or without notice. You agree that we shall not be liable to you or to any other party for any changes to the Site or any Content.

INFORMATIONAL PURPOSES ONLY

This Site and Content are for informational, personal, and noncommercial purposes only, and Content or other information on this Site should not be construed as a solicitation, offer, recommendation, advice, representation of suitability or endorsement of any security or investment, including Spectrum’s current and historical portfolio companies. No Content or other information on the Site is to be relied upon for the purpose of making investment decisions. In any event, past performance is not a guarantee of future results and it should not be assumed that results for any portfolio investment will be achieved for any other portfolio investment. Spectrum does not solicit or make its services available to the public.

MONITORING AND ENFORCEMENT; TERMINATION

We have the right to:

• Take any action with respect to any user contribution that we deem necessary or appropriate in our sole discretion, including if we believe that such user contribution violates the Terms of Use, infringes any intellectual property right or other right of any person or entity, threatens the personal safety of users of the Site or the public, or could create liability for Spectrum.
• Disclose your identity or other information about you to any third party who claims that material posted by you violates their rights, including their intellectual property rights or their right to privacy, in accordance with our Privacy Policy.
• Take appropriate legal action, including without limitation, referral to law enforcement, for any illegal or unauthorized use of the Site or any Content.
• Terminate or suspend your access to all or part of the Site for any or no reason, including without limitation, any violation of these Terms of Use.

LIMITED RIGHT OF USE/OWNERSHIP OF CONTENT

The Site, and the databases, software, hardware, and other technology used by or on behalf of Spectrum to operate the Site, and the structure, organization, and underlying data, information, and software code thereof (collectively, the “Technology”), may constitute valuable trade secrets of Spectrum. Spectrum retains all rights, title, and interest, including all intellectual property rights, in and to the Technology and any additions, improvements, updates, and modifications thereto. You receive no ownership interest in or to the Technology and you are not granted any right or license to use the Technology itself, apart from your ability to access the Site and

Content under these Terms of Use. Subject to your compliance with these Terms of Use, Spectrum grants to you a nonexclusive, nontransferable, revocable, and limited right to access and use the Site only as expressly permitted in these Terms of Use. As a condition of your right to access the Site under these Terms of Use, you acknowledge and agree that you shall not directly or indirectly use the Site for any commercial purpose, frame or hyperlink the Site without prior written consent of Spectrum, bypass or circumvent any measures used to protect or limit access to the Site, or use the Site for any illegal or fraudulent purpose. You are responsible for compliance with all local laws and regulations.

All materials on the Site, including trade names, trademarks, service marks, trade dress, logos, graphics, articles and other materials (the “Content”) are protected by U.S. and international copyright, trademark and all other applicable intellectual property laws, and are proprietary to Spectrum, Spectrum’s suppliers or licensors, or applicable third-party owners or licensors. Nothing in these Terms of Use or anywhere on the Site shall be construed as granting any license, permission or right to use any Content. Absent our prior express written consent, you may not copy, modify, reproduce, adapt, translate, exhibit, publish, transmit, participate in the transfer or sale of, create derivative works from, distribute, perform, display, reverse engineer, decompile or dissemble, or in any way exploit, any of the Content or Technology in whole or in part. Any unauthorized or prohibited use of the Content may subject you to civil and criminal liability under applicable law.

PROHIBITED USES

You may use the Site only for lawful purposes and in accordance with these Terms of Use. You agree not to use the Site:

• In any way that violates any applicable federal, state, local, or international law or regulation (including, without limitation, any laws regarding the export of data or software to and from the U.S. or other countries).
• To engage in any other conduct that restricts or inhibits anyone’s use or enjoyment of the Site, or which, as determined by us, may harm Spectrum or users of the Site, or expose them to liability.

Additionally, you agree not to:

• Use any robot, spider, or other automatic device, process, or means to access the Site for any purpose, including monitoring or copying any of the material on the Site.
• Use any manual process to monitor or copy the Technology, Content, or any of the material on the Site, or for any other purpose not expressly authorized in these Terms of Use, without our prior written consent.
• Use any device, software, or routine that interferes with the proper working of the Site.
• Introduce any viruses, Trojan horses, worms, logic bombs, or other material that is malicious or technologically harmful.
• Attempt to gain unauthorized access to, interfere with, damage, or disrupt any parts of the Site, the server on which the Site is stored, or any server, computer, or database connected to the Site.
• Attack the Site via a denial-of-service attack or a distributed denial-of-service attack.
• Alter, obscure, or remove any copyright, trademark, or any other notices that are provided on or in connection with the Technology or any Content.
• Otherwise attempt to interfere with the proper working of the Site.

THIRD PARTY SITES AND LINKING

As a convenience to you, this Site may contain links to third party websites (“linked sites”). By accessing this Site, you acknowledge that linked sites are not under Spectrum’s control, and Spectrum is not responsible for, does not make any express or implied warranties with regard to, and does not endorse the content of, or any link embedded in, any linked site, whether or not Spectrum is affiliated with the linked site’s sponsor(s). You enter linked sites at your own risk.

RESTRICTED WEBSITE

If you have been provided with a unique user name and/or password (the “User ID”) to access Spectrum’s investor portal (the “Restricted Website”), you agree to treat the User ID as confidential and not to disclose such User ID. You are responsible for all usage and activity of the Site and the Restricted Website through your User ID, including, but not limited to, any use of the Site or the Restricted Website by you or any third party using your User ID. You also acknowledge that your account is personal to you and agree not to provide any other person with access to this Site, the Restricted Website, or portions of it using your User ID, password, or other security information. You agree to notify us immediately of any unauthorized access to or use of your User ID or password or any other breach of security by sending an email to compliance@spectrumequity.com. You also agree to ensure that you exit from your account at the end of each session. You should use particular caution when accessing your account from a public or shared computer so that others are not able to view or record your password or other personal information.

We have the right to disable any User ID, password, or other identifier, whether chosen by you or provided by us, at any time if, in our opinion, you have violated any provision of these Terms of Use.

The information contained in the Restricted Website may include material non-public information. It is a violation of United States securities laws for a person in possession of material non-public information concerning an issuer to purchase or sell securities of such issuer or from communicating such information to any person under circumstances in which it is reasonably foreseeable that such person is likely to purchase or sell such securities in reliance upon such information.

Your access to and use of the Restricted Website and any other third-party sites or services made available through the Site (collectively, the “Third-Party Services”) may be subject to a Services Agreement or other third-party agreement you may agree to before being given access to the Third-Party Services. In such case, the terms of the Services Agreement or such third-party agreement will apply to the applicable Third-Party Services.

DISCLAIMER OF WARRANTIES AND LIMITATION OF LIABILITY

While we use reasonable efforts to ensure that the information we post is accurate and up-to-date at the time it is published or posted, errors and omissions may occur or some information on the Site may not be the most current information available. You alone are responsible for confirming the accuracy of any information posted to the Site. We make no representation as to the completeness or accuracy of the Content and we make no commitment, and disclaim any duty, to correct or update the Content.

YOU EXPRESSLY UNDERSTAND AND AGREE THAT YOUR USE OF THIS SITE IS AT YOUR SOLE RISK. SPECTRUM DOES NOT ASSUME ANY LIABILITY OR RESPONSIBILITY FOR THE SITE OR THE CONTENT. SPECTRUM MAKES NO REPRESENTATION ABOUT THE SUITABILITY OF THE INFORMATION CONTAINED IN THE DOCUMENTS OR OTHER INFORMATION PUBLISHED ON THIS SITE. THE SITE AND THE CONTENT ARE PROVIDED “AS IS,” “WITH ALL FAULTS,” AND “AS AVAILABLE” WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED.

SPECTRUM HEREBY DISCLAIMS ALL WARRANTIES WITH REGARD TO CONTENT AND OTHER INFORMATION AVAILABLE ON THE SITE, INCLUDING ALL EXPRESS AND IMPLIED WARRANTIES AND CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT. WITHOUT LIMITING THE FOREGOING, WE DO NOT WARRANT THE AVAILABILITY, ACCURACY, COMPLETENESS, TIMELINESS, FUNCTIONALITY, RELIABILITY, SPEED OR DELIVERY OF THE SITE OR ITS CONTENTS. BY PROCEEDING TO ACCESS THIS SITE, YOU HEREBY ASSUME THE ENTIRE RISK OF RELYING UPON THE CONTENT OR OTHER INFORMATION PROVIDED ON THE SITE.

YOU EXPRESSLY UNDERSTAND AND AGREE THAT IN NO EVENT SHALL SPECTRUM BE LIABLE FOR ANY DAMAGES OR LOSSES, INCLUDING, WITHOUT LIMITATION, SPECIAL, DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE, EXEMPLARY, LOST PROFITS, LOST REVENUES, LOSS OF BUSINESS, LOSS OF DATA, OR OTHER DAMAGES ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OF USE, INCLUDING YOUR USE OR INABILITY TO USE THE SITE OR THE CONTENT, REGARDLESS OF THE THEORY OF LIABILITY, WHETHER TORT (INCLUDING NEGLIGENCE OF ANY KIND), CONTRACT OR ANY OTHER LEGAL OR EQUITABLE THEORY, EVEN IF ADVISED OF THE POSSIBILITY OF THE DAMAGES OR IF THE DAMAGES COULD HAVE BEEN FORESEEN. IN STATES THAT DO NOT ALLOW THE EXCLUSION OR LIMITATION OF CERTAIN CATEGORIES OF DAMAGES, SPECTRUM’S LIABILITY, AND THAT OF ITS AGENTS AND LICENSORS, IS LIMITED TO THE FULLEST EXTENT ALLOWED BY SUCH STATES’ LAWS, AND YOU AGREE THAT SPECTRUM’S MAXIMUM LIABILITY FOR THE USE OF THIS SITE SHALL NOT EXCEED $100. YOU AGREE THAT, IN CONSIDERATION FOR ACCESSING THE SITE AND THE CONTENT, THAT THE FOREGOING LIMITATION OF LIABILITY IS REASONABLE.
INDEMNIFICATION

By accessing and/or using the Site or any Content, you agree to indemnify, defend and hold harmless Spectrum, its affiliates, and its licensors, and its and their respective officers, directors, employees, members, agents, information providers, affiliates, licensors, licensees, suppliers, and assigns (collectively, the “Indemnified Parties”) from and against any and all claims, demands, liabilities, expenses and costs, including without limitation attorneys’ fees and expenses, incurred by the Indemnified Parties in connection with any claim arising out of, or breach by you of, these Terms of Use or from your use of the Site or any Content. You agree to cooperate as fully as reasonably required in the defense of any claim. We reserve the right to assume the exclusive defense and control of any matter otherwise subject to indemnification by you. You shall not enter into any settlement agreement which affects the rights of any of the Indemnified Parties or requires the taking of any action by any of them, without our prior written approval.

PRIVACY POLICY

By using the Site, you acknowledge the use, collection, and disclosure of your personally identifiable information that you submit to the Site or that is collected about you from the Site as described in our Privacy Policy, found at https://www.spectrumequity.com/privacy.

SUBMITTING CONFIDENTIAL INFORMATION

We do not accept responsibility for protecting any confidential or proprietary information without an express written agreement from us to do so and are under no obligation to return any information to the sender.

MISCELLANEOUS

Except as set forth herein, these Terms of Use constitute the entire agreement between you and Spectrum and govern your use of the Site, the Content, and any services offered on the Site. These Terms of Use supersede any prior terms of use or other agreements between you and Spectrum concerning use of this Site.

These Terms of Use have been made in and shall be construed in accordance with the laws of the Commonwealth of Massachusetts without regard to its conflict of law provisions. By accessing or using this Site, you agree to submit to the personal and exclusive jurisdiction of the federal and state courts located within the City and County of Boston, Massachusetts for resolution of any disputes arising out of or relating to these Terms of Use or your use of this Site or any Content.
You agree that, except as expressly provided herein, there shall be no third party beneficiaries of these Terms of Use.

The failure by us to exercise or enforce any right or provision of these Terms of Use shall not constitute a waiver of such right or provision, and no waiver shall be enforceable unless in writing and signed by the party against whom enforcement is sought.

If any portion of these Terms of Use is held to be unenforceable, the unenforceable portion will be construed in accordance with the relevant law to as nearly as possible reflect the original intentions of the parties and the remainder of these Terms of Use will be enforced as written.

If you have any questions about these Terms of Use, please contact Spectrum at compliance@spectrumequity.com.

Last Updated: December 3, 2024