Zeta Global Refutes Short-Seller Claims and Announces Forensic Review Findings

Zeta Global Responds to Short-Seller Report By Investing.com

NEW YORK--(BUSINESS WIRE)--Zeta Global (NYSE: ZETA), the AI-Powered Marketing Cloud, today issued the following statement in response to claims made in a report by Culper Research, a short-seller, published on November 13, 2024: Based upon Zeta's and its legal counsel's preliminary review and evaluation of the report, the Company believes this report is riddled with misrepresentations, speculative conjecture, and categorically false statements. The report is misleading and conveys, at most, a superficial understanding of Zeta's business and practices. It relies heavily on questionable sources that get basic facts wrong, cites financial metrics that are off by hundreds of millions of dollars, and doesn't even correctly identify the Company's Big Four auditor. We are providing the facts on the report's most egregious claims here: Zeta is confident in its internal accounting processes and controls. Zeta's independent auditor, Deloitte (not E&Y, which has never audited Zeta), performs annual audits of the Company's financial statements. Zeta is confident in its evaluation of contracts and the determination of revenue recognition in accordance with Generally Accepted Accounting Principles (GAAP). On a quarterly basis, Zeta management briefs the Audit Committee of the Board of Directors on its relationships with customers who are also vendors. In the aggregate, revenue generated by Zeta's customer relationships that are also vendors is insignificant. The opinion from our independent auditors, Deloitte, related to Zeta's FY2023 financial statements was unqualified, as was the opinion on the Company's internal controls over financial reporting as of December 31, 2023 (which means there were no material weaknesses). Zeta is confident in its data collection practices, policies and processes to ensure compliance with applicable laws. We do not operate so-called consent farms. Zeta has made significant investments in its data protection, data governance, and privacy oversight and is regularly audited and reviewed by partners and clients. In addition, Zeta reviews the opt-in/opt-out processes and privacy policies of its data partners. Contrary to the report, the total contribution of Apptness and ArcaMax to Zeta's business is not material. Together, through the third quarter of 2024, their year-to-date revenue contribution is less than 3% and they make up less than 1% of Zeta's data assets. These contributions have trended down. As further evidence of the inaccuracies of the report, Digital Media Solutions is not a material customer or partner, as demonstrated by its trailing twelve-month revenue being less than $200,000 as of September 30, 2024. Zeta values transparency and open communication. Investors are encouraged to review the Company's financial statements and other related materials at https://investors.zetaglobal.com/. About Zeta Zeta Global (NYSE: ZETA) is the AI-Powered Marketing Cloud that leverages advanced artificial intelligence (AI) and trillions of consumer signals to make it easier for marketers to acquire, grow, and retain customers more efficiently. Through the Zeta Marketing Platform (ZMP), our vision is to make sophisticated marketing simple by unifying identity, intelligence, and omnichannel activation into a single platform " powered by one of the industry's largest proprietary databases and AI. Our enterprise customers across multiple verticals are empowered to personalize experiences with consumers at an individual level across every channel, delivering better results for marketing programs. Zeta was founded in 2007 by David A. Steinberg and John Sculley and is headquartered in New York City with offices around the world. To learn more, go to www.zetaglobal.com. Forward-Looking Statements This press release contains certain 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. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. These statements often include words such as anticipate, expect, suggests, plan, believe, intend, estimates, targets, projects, should, could, would, may, will, forecast and other similar expressions. We base these forward-looking statements on our current expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances at such time. Although we believe that these forward-looking statements are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our business, results of operations and financial condition and could cause actual results to differ materially from those expressed in the forward-looking statements. These statements are not guarantees of future performance or results. The forward-looking statements are subject to and involve risks, uncertainties and assumptions, and you should not place undue reliance on these forward-looking statements. These cautionary statements should not be construed by you to be exhaustive and are made only as of the date of this press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Zeta Global Responds to Short-Seller Report

Zeta Global (NYSE: ZETA), the AI-Powered Marketing Cloud, today issued the following statement in response to claims made in a report by Culper Research, a short-seller, published on November 13, 2024: "Based upon Zeta's and its legal counsel's preliminary review and evaluation of the report, the Company believes this report is riddled with misrepresentations, speculative conjecture, and categorically false statements. The report is misleading and conveys, at most, a superficial understanding of Zeta's business and practices. It relies heavily on questionable sources that get basic facts wrong, cites financial metrics that are off by hundreds of millions of dollars, and doesn't even correctly identify the Company's Big Four auditor. We are providing the facts on the report's most egregious claims here: Zeta is confident in its internal accounting processes and controls. Zeta's independent auditor, Deloitte (not "E&Y", which has never audited Zeta), performs annual audits of the Company's financial statements. Zeta is confident in its evaluation of contracts and the determination of revenue recognition in accordance with Generally Accepted Accounting Principles ("GAAP"). On a quarterly basis, Zeta management briefs the Audit Committee of the Board of Directors on its relationships with customers who are also vendors. In the aggregate, revenue generated by Zeta's customer relationships that are also vendors is insignificant. The opinion from our independent auditors, Deloitte, related to Zeta's FY2023 financial statements was unqualified, as was the opinion on the Company's internal controls over financial reporting as of December 31, 2023 (which means there were no material weaknesses). Zeta is confident in its data collection practices, policies and processes to ensure compliance with applicable laws. We do not operate so-called "consent farms". Zeta has made significant investments in its data protection, data governance, and privacy oversight and is regularly audited and reviewed by partners and clients. In addition, Zeta reviews the opt-in/opt-out processes and privacy policies of its data partners. Contrary to the report, the total contribution of Apptness and ArcaMax to Zeta's business is not material. Together, through the third quarter of 2024, their year-to-date revenue contribution is less than 3% and they make up less than 1% of Zeta's data assets. These contributions have trended down. As further evidence of the inaccuracies of the report, Digital Media Solutions is not a material customer or partner, as demonstrated by its trailing twelve-month revenue being less than $200,000 as of September 30, 2024. Zeta values transparency and open communication. Investors are encouraged to review the Company's financial statements and other related materials at https://investors.zetaglobal.com/." About Zeta Zeta Global (NYSE: ZETA) is the AI-Powered Marketing Cloud that leverages advanced artificial intelligence (AI) and trillions of consumer signals to make it easier for marketers to acquire, grow, and retain customers more efficiently. Through the Zeta Marketing Platform (ZMP), our vision is to make sophisticated marketing simple by unifying identity, intelligence, and omnichannel activation into a single platform - powered by one of the industry's largest proprietary databases and AI. Our enterprise customers across multiple verticals are empowered to personalize experiences with consumers at an individual level across every channel, delivering better results for marketing programs. Zeta was founded in 2007 by David A. Steinberg and John Sculley and is headquartered in New York City with offices around the world. To learn more, go to www.zetaglobal.com. Forward-Looking Statements This press release contains certain 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. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. These statements often include words such as "anticipate," "expect," "suggests," "plan," "believe," "intend," "estimates," "targets," "projects," "should," "could," "would," "may," "will," "forecast" and other similar expressions. We base these forward-looking statements on our current expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances at such time. Although we believe that these forward-looking statements are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our business, results of operations and financial condition and could cause actual results to differ materially from those expressed in the forward-looking statements. These statements are not guarantees of future performance or results. The forward-looking statements are subject to and involve risks, uncertainties and assumptions, and you should not place undue reliance on these forward-looking statements. These cautionary statements should not be construed by you to be exhaustive and are made only as of the date of this press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Zeta Global to Hold a Webinar to Discuss its Accounting Processes and Controls, Data Collection Policies, and Privacy Oversight By Investing.com

NEW YORK--(BUSINESS WIRE)--Zeta Global (NYSE:ZETA), the AI-Powered Marketing Cloud, today announced that it will hold a webinar hosted by Arjun Bhatia, Partner, Software (ETR:SOWGn) Research, at William Blair on Wednesday, November 20 at 3:30 p.m. Eastern Time. Participating on behalf of Zeta Global will be David Steinberg, Co-Founder, Chairman, and CEO, Chris Greiner, CFO, and Robert Niehaus, Board Member and Chair of Zeta's Audit Committee. The Zeta Global team will discuss the Company's robust accounting processes and controls, data collection policies, and privacy oversight. View Zeta's preliminary response to a recent short-seller report, at https://investors.zetaglobal.com/news/news-details/2024/Zeta-Global-Responds-to-Short-Seller-Report/default.aspx. Please contact your William Blair representative for the registration link or contact William Blair corporate research at [email protected]. A replay of the conference call will be accessible on Zeta's Investor Relations website at http://investors.zetaglobal.com. About Zeta Zeta Global (NYSE: ZETA) is the AI-Powered Marketing Cloud that leverages advanced artificial intelligence (AI) and trillions of consumer signals to make it easier for marketers to acquire, grow, and retain customers more efficiently. Through the Zeta Marketing Platform (ZMP), our vision is to make sophisticated marketing simple by unifying identity, intelligence, and omnichannel activation into a single platform " powered by one of the industry's largest proprietary databases and AI. Our enterprise customers across multiple verticals are empowered to personalize experiences with consumers at an individual level across every channel, delivering better results for marketing programs. Zeta was founded in 2007 by David A. Steinberg and John Sculley and is headquartered in New York City with offices around the world. To learn more, go to www.zetaglobal.com. Forward-Looking Statements This press release contains certain 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. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. These statements often include words such as anticipate, expect, suggests, plan, believe, intend, estimates, targets, projects, should, could, would, may, will, forecast and other similar expressions. We base these forward-looking statements on our current expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances at such time. Although we believe that these forward-looking statements are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our business, results of operations and financial condition and could cause actual results to differ materially from those expressed in the forward-looking statements. These statements are not guarantees of future performance or results. The forward-looking statements are subject to and involve risks, uncertainties and assumptions, and you should not place undue reliance on these forward-looking statements. These cautionary statements should not be construed by you to be exhaustive and are made only as of the date of this press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Zeta Global to Hold a Webinar to Discuss its Accounting Processes and Controls, Data Collection Policies, and Privacy Oversight

Zeta Global (NYSE:ZETA), the AI-Powered Marketing Cloud, today announced that it will hold a webinar hosted by Arjun Bhatia, Partner, Software Research, at William Blair on Wednesday, November 20 at 3:30 p.m. Eastern Time. Participating on behalf of Zeta Global will be David Steinberg, Co-Founder, Chairman, and CEO, Chris Greiner, CFO, and Robert Niehaus, Board Member and Chair of Zeta's Audit Committee. The Zeta Global team will discuss the Company's robust accounting processes and controls, data collection policies, and privacy oversight. View Zeta's preliminary response to a recent short-seller report, at https://investors.zetaglobal.com/news/news-details/2024/Zeta-Global-Responds-to-Short-Seller-Report/default.aspx. Please contact your William Blair representative for the registration link or contact William Blair corporate research at [email protected]. A replay of the conference call will be accessible on Zeta's Investor Relations website at http://investors.zetaglobal.com. About Zeta Zeta Global (NYSE: ZETA) is the AI-Powered Marketing Cloud that leverages advanced artificial intelligence (AI) and trillions of consumer signals to make it easier for marketers to acquire, grow, and retain customers more efficiently. Through the Zeta Marketing Platform (ZMP), our vision is to make sophisticated marketing simple by unifying identity, intelligence, and omnichannel activation into a single platform - powered by one of the industry's largest proprietary databases and AI. Our enterprise customers across multiple verticals are empowered to personalize experiences with consumers at an individual level across every channel, delivering better results for marketing programs. Zeta was founded in 2007 by David A. Steinberg and John Sculley and is headquartered in New York City with offices around the world. To learn more, go to www.zetaglobal.com. Forward-Looking Statements This press release contains certain 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. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. These statements often include words such as "anticipate," "expect," "suggests," "plan," "believe," "intend," "estimates," "targets," "projects," "should," "could," "would," "may," "will," "forecast" and other similar expressions. We base these forward-looking statements on our current expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances at such time. Although we believe that these forward-looking statements are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our business, results of operations and financial condition and could cause actual results to differ materially from those expressed in the forward-looking statements. These statements are not guarantees of future performance or results. The forward-looking statements are subject to and involve risks, uncertainties and assumptions, and you should not place undue reliance on these forward-looking statements. These cautionary statements should not be construed by you to be exhaustive and are made only as of the date of this press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Zeta Global : Forensic Review Finds Zeta Global Practices Sound and Financial Statements Accurate Form 8 K

Forensic Review Finds Zeta Global Practices Sound and Financial Statements Accurate Internal and External Reviews Show Company Does Not Engage in Misleading Practices Confirms "Report" Claims are False NEW YORK - November 20, 2024 - Zeta Global (NYSE: ZETA), the AI-Powered Marketing Cloud, today announced a previously completed forensic review found its practices sound and financial statements accurate, debunking claims made about Zeta Global in a recently published false and misleading "report." In response to the false and misleading allegations in that "report," Zeta is now disclosing the forensic review conducted in 2022 and 2023. The Audit Committee of Zeta's Board of Directors oversaw the review after learning of a federal investigation into a company, Kubient, Inc., with which Zeta did business before Zeta went public in 2021. Zeta retained Latham & Watkins LLP and external forensic accountants to review contractual arrangements in which Zeta acts as a vendor and a customer. The review supported Zeta's conclusion that its financial statements are accurate and fairly presented Zeta's financial condition and operating results in all material respects. The review also supported Zeta's conclusion that its internal controls over financial reporting are effective. "We are releasing this news today because of the recently released false claims masquerading as 'facts' about our Company," said David Steinberg, Co-Founder, Chairman, and CEO of Zeta. "Publishing false claims hurts reputable companies like ours and only benefits manipulative traders who seek to exploit the impact their false claims have on share price." "We asked Latham and external forensic accountants to scrutinize how Zeta operates and books its business," said Robert Niehaus, Chair of Zeta's Audit Committee. "Zeta's findings based on their work should give any objective person confidence in the integrity of Zeta's operations, controls, processes, and financial statements." PCAOB rules required disclosure of critical audit matters (CAM) for the first time in Zeta's annual report on Form 10-K for the fiscal year ended December 31, 2023. CAM disclosure is intended to provide information arising from the financial statement audit process. CAM disclosures are common for publicly traded companies. As the PCAOB has stated, and contrary to insinuations in the "report," CAM disclosure does not reflect negatively on the company, does not indicate control deficiencies, and does not alter the auditor's opinion on the financial statements. Moreover, "revenue from customer contracts is the number one most common CAM topic among all public companies," according to a January 2024 survey by Audit Analytics. "More than a year ago, Zeta disclosed its cooperation with an investigation by federal authorities into Kubient," Steinberg added. "We never did a material amount of business with that company, and we ended that relationship before our IPO three years ago. Zeta Global will continue to create long-term shareholder value and demonstrate its strength and the resilience our business model. I have asked our counsel to review all appropriate legal remedies we may take against the publisher of this bogus 'report.'" About Zeta Zeta Global (NYSE: ZETA) is the AI-Powered Marketing Cloud that leverages advanced artificial intelligence (AI) and trillions of consumer signals to make it easier for marketers to acquire, grow, and retain customers more efficiently. Through the Zeta Marketing Platform (ZMP), our vision is to make sophisticated marketing simple by unifying identity, intelligence, and omnichannel activation into a single platform - powered by one of the industry's largest proprietary databases and AI. Our enterprise customers across multiple verticals are empowered to personalize experiences with consumers at an individual level across every channel, delivering better results for marketing programs. Zeta was founded in 2007 by David A. Steinberg and John Sculley and is headquartered in New York City with offices around the world. To learn more, go to www.zetaglobal.com. Forward-Looking Statements This press release contains certain 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. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. These statements often include words such as "anticipate," "expect," "suggests," "plan," "believe," "intend," "estimates," "targets," "projects," "should," "could," "would," "may," "will," "forecast" and other similar expressions. We base these forward-looking statements on our current expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances at such time. Although we believe that these forward-looking statements are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our business, results of operations and financial condition and could cause actual results to differ materially from those expressed in the forward-looking statements. These statements are not guarantees of future performance or results. The forward-looking statements are subject to and involve risks, uncertainties and assumptions, and you should not place undue reliance on these forward-looking statements. These cautionary statements should not be construed by you to be exhaustive and are made only as of the date of this press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Zeta Global refutes short seller claims, backs data practices By Investing.com

NEW YORK - Zeta Global (NYSE: ZETA), an AI-powered marketing cloud company, has issued a rebuttal to a short seller report that accused the company of various misdeeds. The response, published on Zeta's Investor Relations website, addresses the allegations made in the report dated November 13, 2024. Zeta's co-founder and CEO, David A. Steinberg, denounced the report as "misleading and objectively false" and maintained that the company's practices are lawful and aimed at generating shareholder value. The company's statement emphasized that its data management, privacy policies, and financial reporting adhere to relevant laws. Zeta's leadership expressed confidence in the company's business model and future prospects, highlighting recent actions such as a $100 million stock repurchase program and stock purchases by management and board members as evidence of this belief. Steinberg stated that Zeta has used the recent drop in stock price as an opportunity to accelerate stock buybacks under the repurchase program, and intends to continue this strategy to enhance shareholder value. The company reiterated its commitment to transparent communication with stakeholders. Zeta Global, co-founded in 2007 by Steinberg and John Sculley, provides a marketing platform that integrates artificial intelligence and consumer data to help marketers more efficiently acquire, grow, and retain customers. The company is headquartered in New York City and operates globally. This news is based on a press release statement from Zeta Global. The company's forward-looking statements are subject to risks and uncertainties, and actual results may differ materially from those projected. Zeta encourages investors not to place undue reliance on these forward-looking statements, which speak only as of the date they were made. In other recent news, Zeta Global reported significant financial growth, with a 42% year-over-year increase in Q3 2024 revenue to $268 million and a 59% rise in adjusted EBITDA to $54 million. This led to an upward revision of its full-year 2024 revenue outlook to $986 million. Amid these developments, Zeta Global faced a downgrade from KeyBanc Capital Markets from Overweight to Sector Weight. However, B.Riley, DA Davidson, and Needham reaffirmed their Buy ratings on Zeta Global. Canaccord Genuity adjusted its stock price target for Zeta Global, increasing it to $28 from the previous $24, while maintaining a Buy rating. Zeta Global's leadership, including CEO David A. Steinberg, announced plans to purchase approximately $3 million of the company's Class A common stock, following a report containing what Steinberg described as "false claims and objectively wrong information" about the company. In response, Zeta Global initiated a new $100 million share repurchase program. Zeta Global has also refuted claims of financial inaccuracies, following a comprehensive review conducted by Latham & Watkins LLP and external forensic accountants. The company has highlighted that the inclusion of critical audit matters in its annual report does not imply any deficiencies or negative reflection on the company. These are recent developments that reflect the ongoing financial performance and strategic initiatives of Zeta Global. Zeta Global's robust response to the short seller report aligns with several key metrics and insights from InvestingPro. Despite the recent allegations, the company's financial health appears strong, with InvestingPro data showing that Zeta holds more cash than debt on its balance sheet. This financial stability supports the company's confidence in its business model and its ability to execute the $100 million stock repurchase program. The company's growth trajectory remains positive, with revenue increasing by 29.97% over the last twelve months to $901.4 million. This growth is further supported by an InvestingPro Tip indicating that analysts anticipate sales growth in the current year. Additionally, 11 analysts have revised their earnings upwards for the upcoming period, suggesting a positive outlook despite the short seller's claims. Zeta's stock performance has been volatile, reflecting the recent controversy. While the stock has seen a significant return of 23.99% over the last week, possibly in response to the company's rebuttal, it has experienced a 21.08% decline over the past month. This volatility is consistent with an InvestingPro Tip noting that the stock generally trades with high price volatility. Investors seeking a more comprehensive analysis can access additional insights on InvestingPro, which offers 12 more tips for Zeta Global, providing a deeper understanding of the company's financial position and market performance.

Zeta Announces $100 Million Stock Repurchase Program By Investing.com

NEW YORK--(BUSINESS WIRE)--Zeta Global (NYSE: ZETA), the AI-Powered Marketing Cloud, today announced that its Board of Directors authorized a stock repurchase program for up to $100 million of Zeta's Class A common stock through December 31, 2026. The program supplements Zeta's existing Class A common stock share repurchase program, which was authorized in August 2022, under which, as of September 30, 2024, $14.7 million remained available for use prior to its expiration on December 31, 2024. Under the 2024 repurchase program, repurchases can be made from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions or otherwise, all in accordance with the rules of the Securities and Exchange Commission and other applicable legal requirements. The specific timing, price and size of purchases will depend on prevailing stock prices, general economic and market conditions, and other considerations. The repurchase program does not obligate the company to acquire any particular amount of common stock, and the repurchase program may be suspended or discontinued at any time at the company's discretion. The Board's decision to deploy a meaningful percentage of Zeta's excess free cash flow over the next two years to repurchase shares highlights our conviction in the company's strategy and long-term potential of the business," said David A. Steinberg, Zeta's Co-Founder, Chairman & CEO. "We see this as a unique opportunity to buy our stock at substantially below what we believe it's worth. We are confident Zeta is well-positioned to accelerate growth in 4Q'24, 2025 and beyond. Chris Greiner, Zeta's CFO, added: We expect to generate hundreds of millions in free cash flow over the next two years. We believe our current valuation has created a unique opportunity to repurchase shares, and we can see no better use for our excess free cash flow." About Zeta Zeta Global (NYSE: ZETA) is the AI-Powered Marketing Cloud that leverages advanced artificial intelligence (AI) and trillions of consumer signals to make it easier for marketers to acquire, grow, and retain customers more efficiently. Through the Zeta Marketing Platform (ZMP), our vision is to make sophisticated marketing simple by unifying identity, intelligence, and omnichannel activation into a single platform " powered by one of the industry's largest proprietary databases and AI. Our enterprise customers across multiple verticals are empowered to personalize experiences with consumers at an individual level across every channel, delivering better results for marketing programs. Zeta was founded in 2007 by David A. Steinberg and John Sculley and is headquartered in New York City with offices around the world. To learn more, go to www.zetaglobal.com. Forward-Looking Statements This press release contains certain 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. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. These statements often include words such as anticipate, expect, suggests, plan, believe, intend, estimates, targets, projects, should, could, would, may, will, forecast and other similar expressions. We base these forward-looking statements on our current expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances at such time. Although we believe that these forward-looking statements are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our business, results of operations and financial condition and could cause actual results to differ materially from those expressed in the forward-looking statements. These statements are not guarantees of future performance or results. The forward-looking statements are subject to and involve risks, uncertainties and assumptions, and you should not place undue reliance on these forward-looking statements. These cautionary statements should not be construed by you to be exhaustive and are made only as of the date of this press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.