Intuit Announces Secondary Offering Price of 1,548,700 Common Shares

MOUNTAIN VIEW, California, November 30, 2021– (BUSINESS WIRE) – Intuit (the “Company” (Nasdaq: INTU), the global technology platform that makes TurboTax, QuickBooks, Mint, Credit Karma and Mailchimp, today announced the pricing of an offer Subscribed by certain entities affiliated with Dan Kurzius, co-founder of Mailchimp (the “selling shareholder”) for 1,548,700 common shares of the company at a public offering price of $ 668.95 per share. be delivered on or around December 1, 2021, subject to customary closing conditions.

The 1,548,700 shares, which represent approximately 15.3% of the shares issued by the Company as partial consideration for the Company’s acquisition of The Rocket Science Group LLC (d / b / a Mailchimp), are sold in order to satisfy certain tax obligations and for estate planning purposes. The selling shareholder will receive all of the net proceeds of the offering. The Company is not selling any Common Shares under the Offer and will not receive any proceeds from the Offer.

Goldman Sachs & Co. LLC is acting as the sole accounting manager of the offering.

The offering is being made in accordance with a pre-registration statement on Form S-3, including a base prospectus, which has been filed by Intuit with the Securities and Exchange Commission (the “SEC”) and is automatically entered effective at filing June 23, 2020 A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offer have been filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the Final Prospectus Supplement and accompanying prospectus relating to the Offered Securities may also be obtained, where available, from Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, by phone at (866) 471-2526, or by email at [email protected]

This press release does not constitute an offer to sell or the solicitation of an offer to buy such securities, and there will be no sale of such securities in any state or jurisdiction where such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Intuit

Intuit is the global technology platform that helps consumers and small businesses overcome their biggest financial challenges. Serving over 100 million customers worldwide with TurboTax, QuickBooks, Mint, Credit Karma, and Mailchimp, we believe everyone should have the opportunity to thrive. We keep working to find new, innovative ways to make this possible.

Cautions Regarding Forward-Looking Statements

This press release contains forward-looking statements, including forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, without limitation, statements regarding the proposed offering and Intuit’s plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on Intuit’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause Intuit’s results to differ materially from current expectations include, but are not limited to, Intuit’s ability to compete successfully; possible government encroachment on Intuit’s fiscal activities; Intuit’s ability to adapt to technological change; Intuit’s ability to predict consumer behavior; Intuit’s reliance on the intellectual property of others; Intuit’s ability to protect Intuit’s intellectual property rights; any damage to Intuit’s reputation; risks associated with acquisition and disposal activities, such as the acquisition of Mailchimp by Intuit; issuance of shares or debt to finance an acquisition; any cybersecurity incident that may affect Intuit (including those affecting third parties on which Intuit relies); customer concerns about privacy and cybersecurity incidents; fraudulent activities of third parties using Intuit’s offerings; Intuit’s inability to process transactions efficiently; interruption or failure of Intuit’s information technology; Intuit’s ability to maintain critical business relationships with third parties; Intuit’s ability to attract and retain talent; any defect in the quality or accuracy of Intuit’s products (including advice given by experts on the Intuit platform); any delay in product launches; difficulties in processing or filing customer tax returns; risks associated with international operations; changes in public policies, laws or regulations affecting Intuit’s business; litigation in which Intuit is involved; the seasonal nature of Intuit’s tax activities; changes in tax rates and tax reform legislation; global economic changes; exposure to credit, counterparties or other risks when providing capital to businesses; amortization of acquired intangible assets and impairment charges; the ability of Intuit to repay or otherwise comply with the terms of Intuit’s unpaid indebtedness; the ability of Intuit to repurchase shares or distribute dividends; volatility in the price of Intuit’s shares; and Intuit’s ability to successfully market its offerings. More details on these and other risks that may impact Intuit’s business are included in its Form 10-K for fiscal 2021, as updated by its subsequent quarterly reports on Form 10. -Q under “Risk Factors,” as well as other risks discussed in documents filed by Intuit with the SEC. In addition, these statements are based on assumptions subject to change. This press release is only valid as of the date hereof. Intuit disclaims any obligation to update the information contained in this document.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211129005801/en/

Contacts

Investors
Kim watkins
Intuit Inc.
650-944-3324
[email protected]

Media
Jeff Davis
Intuit Inc.
480-252-1665
[email protected]


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