Rimini Street, Inc. (DE) Common Stock LD Micro 20th Annual Main Event Conference

Thank you. Sorry, I hit this already. Thank you, Kendall, for the warm introduction. Michael and I are excited to discuss Rimini Street's evolution and how we help global organizations bypass forced vendor upgrades and take a path to true modernization, leveraging their existing ERP systems. Before digging in, please be aware of our standard safe harbor provisions. Our senior management team is unique in the industry, led by our founder, CEO Seth Ravin, the architect of third-party support. Our executive team consists of ERP and innovation executives. We were and have successfully disrupted the industry and taken on litigation that we have had a recent settlement a year ago to focus specifically on the business. We're moving towards focusing on higher growth, higher margin, longer lifetime value. Rimini Street was founded in 2005 by CEO Seth Ravin, growing the company to over $400 million annual recurring revenue.

We're a global company, over half our revenue from international operations. Since inception, we've saved our 6,700 clients $10 billion in savings, and we're supported in 150 countries, and we have a presence in 22. Our primary business is support for Oracle and SAP and managed service, Rimini Connect and Rimini Watch. Our TAM has grown significantly, $65 billion support, and optimize and innovate massive numbers. Now I'd like to turn the presentation over to CFO Michael Perica.

Okay, got the clicker. Thank you, Dean. Good afternoon, everyone. Thanks for coming by to listen to our story and presentation investment thesis. As Dean noted, what do we do? Our core revenue, if you see on the left there, support. We replace the vendor for support of licensed software. As he noted throughout our history, thousands of clients. We currently have 1,600 enterprises or so. Our specialty general availability that we do better than anybody else, 88% of revenue is replacing ERP, mainly your Oracle and your SAP platforms. We do it at half the price. We support the custom code. They don't support the code. This is the value we create for clients. Now, what we have built over since our inception 20-plus years ago in 2005 is put them on a different roadmap alternate from the vendor.

The vendor is effectively now trying to say go from owned assets that we support, and we extract a tremendous amount of value and give you options. Our core business model is give you optionality and control of your IT ecosystem, real estate assets to extract value for the business, not for the vendor. That means you optimize. This is in line with our managed services, where we have a unified approach with our core support to give you business outcomes, not just the cheapest offering, because we know the core systems and the code itself better than anyone else, as good as the vendor, if not better. Then the innovation. This is where we have professional service, where we do have customized engagements, and this is where we expanded into directly and indirectly partnerships, agentic AI offerings on top and around your core systems.

This is what we do. This is the optionality. The control as the key theme in the IT landscape and what we enable better than anyone else is to give you optionality control so you can transition your IT team and your assets from buying to building and customizing. This is AI allows. We solve the problem of keeping your existing assets to work in that environment. What is your challenge with IT? Everlong challenge. Today, you are spending 91%, third party has done this research, of maintaining, and that includes through maintaining is, oh, a legacy system is going out of support. Vendor requires you to replatform new SI, have a large upfront money, upfront spend, that you capitalize, but it is significant cash. It is a multi-year disruption, sometimes many times, right? Et cetera. We give the option through giving you control and optionality where you can take 40% to go for transformation.

As we know now, transformation is not just putting in the latest gen of a system. Hence SaaSpocalypse. When Claude introduced the 12 plugins earlier this year in February that was targeting enterprise software workflows, it really woke the industry up. It woke the market up that there are other options out there. This is where we fit in. It is a driver for our business. The future is already here. What are we talking about the future? That is putting the innovation on top of and around your existing systems that obviates the need to upgrade these systems. What we do is, as you see in the top loop, effectively, we have a human in the loop to utilize and extract the value out of your technologies.

We do this around the clock. We have a dedicated on our P1 support tickets of a 10-minute response time. If you speak to any of our clients and do a channel check, they will tell you, if you lodge a P1 priority one ticket with Rimini Street, do not move from your desk because you will get a call almost immediately. We are averaging, we track ourselves, 2 minutes. We transfer it to engineers across our global capability centers. India, we have in the Far East, in Malaysia, and we also have Brazil, and of course, we have U.S. resources. We also have many, many languages in the local countries. Nobody does support better than we do, hence our 4.9 out of 5 satisfaction. Our applied AI digital solution blueprints. What we do is we create blueprints.

We have this Rimini Agentic UX, where we'll put into a proprietary solution your overall environment, and we will work with you and customize a Rimini Smart Path of support, innovate, and optimize, and give you the different roadmap and the optionality. Ultimately, we will help you taking care of existing assets and either using our innovation or a third-party partner's innovation to put on top. This is where we're positioned and a driver for us in delivering the Agentic AI ERP. That's not a new ERP. That's putting agentic AI in whatever form can work for you, not dedicated to one platform, one model, whether it can be a small language model, whether it can be an open source model, or a combination thereof. This is a really important graphic. You have the Rimini Agentic UX on top that will interface through our partner.

This is where the models would be entailed in the Now Platform, the green that you see there. Then you interact into these other systems. We have our Rimini Connect product. We get a lot of calls for this product because this has your MCP protocols and other protocols and allows the, what I call it is tomorrow, through our interface in Rimini Connect, to go to yesterday. So we can go to not only current gen, two gens, three, four, five gens old, and you can actually have this technology and these models get deep into these systems. We can extract value, hence the Agentic AI ERP, but not having to upgrade. Very compelling. Again, another look.

A graphic here that our market opportunity, as you see, trying to emulate the quadrants here in the far right, where we are shifting the customization and the complexity, but allowing you to control not on the vendor roadmap. You can pick and choose and use multiple elements of how you want to modernize, how you want to transform, and doing it with a whole host of technologies on existing systems. Making a determination, we're going through a lot of evaluations with clients that want to get to tomorrow, but recognize I don't have to just choose the next generation of a particular platform. I can either upgrade, don't have to upgrade, put customized solutions and tools, yes, it's AI, on top of it and around it. This is what we intend to own. We do own it. We get inbounds all the time for new folks that want to partner with us.

We can't extract value out of all of these. They can work in a particular region with a particular rep or a particular process or our own processes that we have unveiled and we're building on. Ultimately, why do they call us? We know how to tie into how to make ERP systems work, no matter how many gens old that are still functioning out there, better than anybody else. This is what we do. There's so much more value to those licenses that clients own, and they own perpetually to extract value because we can make tomorrow's solutions, models of today, the models of tomorrow work in those environments and your workflows. This is really key even when we're speaking with clients.

If you take a look at the ERP migration, they want to migrate to the new system, then you get access to their native AI captured within the system, not on other platforms to help you overall business workflows. That is a multi-year process. For us, it is take a look at your processes where you want to automate. Still, there is some RPA that can work, or you can use AI if you have identified, particularly agentic AI on top. Then you can assess whether you have to have a paid model, small language model. You can have an open source model. You pick and choose by workflows, or you can platform on top with our partner ServiceNow and just go across the board. You have options. It is going to happen a whole lot quicker. Guess what? With our business model, if you are paying $5 million to existing vendor, we are $2.5 million.

You can get to tomorrow with your same budget line. That is what we offer. Here is our client, the roadmap, how we see the evolution of our clients as we have introduced not only these solutions, these capabilities, our connect for models into the core systems through our partners, ServiceNow and others. We start with the Explorer Pack. We have dozens of these out there. We get to use cases. We can put customized apps together. We can use models you are already paying for, other models, identify it, and then we can effectively get your ERP system to be tomorrow's agentic ERP without having to upgrade. Very compelling economic opportunity to transition an IT team and a business, not always speaking with the IT group to buy into this.