Good morning. Welcome to the special meeting of Semrush stockholders. For those of you who don't know me, I'm Bill Wagner, Chief Executive Officer and a member of the Board of Directors of Semrush. I will chair this special meeting today. At this time, I would like to call the meeting to order and introduce those members of our Board of Directors and Management Team, in addition to myself, who are present at this meeting. The directors present are Mark Vranesh, Caroline Tsay, Oleg Shchegolev. Members of our Management Team present are Brian Mulroy, the Company's Chief Financial Officer, and David Mason, the Company's Chief Legal Officer. Lee Hochbaum and Sašo Kraner, our outside corporate counsel, are also present. With regard to the administration of the meeting, Mr. Mason will serve as the Secretary of this meeting and will prepare the meeting minutes. Mr. Mason was previously appointed to act as Inspector of Elections for today's meeting. Mr. Mason has previously taken an oath to discharge his duties with strict impartiality and according to the best of his ability. The oath of the Inspector of Elections will be filed with the minutes of this meeting. Of this meeting. As noted in the Definitive Proxy Statement previously provided to all stockholders of record, the record date for voting at this meeting was the close of business on December 26, 2025. A list of stockholders, as of the record date, is available on the website for this meeting. Broadridge Financial Solutions, Inc., has delivered an affidavit of mailing to show that the notice of this meeting and the proxy statement were mailed to all stockholders of record as of the record date. A copy of the affidavit of mailing will be filed with the minutes of this meeting. Good morning. I am David Mason, Chief Legal Officer of Semrush. The business agenda for this meeting is described in the notice of meeting and proxy statement relating to this meeting, copies of which were distributed to all stockholders in advance of this meeting. Additionally, a copy of each of the agenda and the rules of order is available on the website for this meeting. We will conduct the meeting in accordance with that agenda and the rules of order. We ask that, in fairness to all stockholders attending this meeting, you follow these rules of order. As you are aware, we have chosen to hold a virtual meeting in order to facilitate stockholder attendance and participation. In the event of a technical malfunction or other significant problem that disrupts this meeting, I may adjourn, recess, or expedite the meeting to take such further action that I determine appropriate in light of the circumstances. Please note that this meeting will not be recorded, and no one attending is permitted to use any recording device. Each of the matters to be voted on at this meeting is considered to have already been moved and seconded and open to stockholder vote. The polls are open, so if you have not already voted, we encourage you to vote now or once all the proposals have been properly put before the meeting. As set forth in the agenda, the formal business part of this meeting will be conducted first, after which we will be happy to answer any questions you may have. To ask a question, you may submit your question on the website for this meeting. Questions will be addressed as appropriate based on the rules of order and will only respond to questions during the Q&A session. Any non-historical statements that the Company makes today will constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from these statements as a result of a number of risks and uncertainties, including the risks that the Company has cited in its most recent 10-Q and 10-K filings with the Securities and Exchange Commission and that Semrush typically cites in its press releases. Also, I would like to remind everyone that this meeting is not a public forum for the purposes of the SEC's Regulation FD. As a result, while the Company would be happy to provide you with general background information about the Company, we will not be able to provide you with material non-public information at this meeting. The Inspector of Elections has informed me that a quorum is present. Therefore, this meeting is duly convened, and I will move on to the formal business of the meeting. With regard to the voting process, if you have submitted a proxy by mail, telephone, or over the Internet, your vote will be counted automatically with no further action on your part. If you still have a proxy card that you wish to have voted or want to vote your shares at this meeting, you may do so during this meeting on the website for this meeting by clicking the "Vote Here" button on the bottom of your screen and entering the 16-digit control number included on your proxy card or voting instruction card that accompanied your proxy materials. If you hold your shares through a bank, broker, or other nominee, you may only vote during this meeting if permitted to do so and in accordance with the instructions provided by your broker, bank, or other nominee to change or revoke your proxy. We will first describe each of the three proposals before this meeting and give stockholders an opportunity to ask questions regarding the proposals. The first item of business is a proposal to adopt the Agreement and Plan of Merger dated as of November 18, 2025. Such agreement, as it may be amended from time to time, is referred to as the Merger Agreement. Among Semrush, Adobe Inc., a Delaware corporation (referred to as Adobe), and Fenway Merger Sub, a Delaware corporation and direct wholly owned subsidiary of Adobe (referred to as Merger Sub). Pursuant to which, upon the terms and subject to the conditions of the Merger Agreement, Merger Sub will merge with and into Semrush, referred to as the Merger, with Semrush surviving the Merger as a wholly owned subsidiary of Adobe. We refer to the foregoing proposal as the Merger Agreement Proposal. The Board of Directors unanimously recommends a vote for the Merger Agreement Proposal. The second item of business is a proposal to approve, on an advisory non-binding basis, the compensation that may be paid or become payable to Semrush's named executive officers that is based on or otherwise relates to the Merger Agreement and the transactions contemplated thereby. We refer to the foregoing proposal as the Merger-related Compensation Proposal. The Board of Directors unanimously recommends a vote for the Merger-related Compensation Proposal. The third and final item of business is a proposal to approve the adjournment of the special meeting, if necessary or appropriate, to solicit additional proxies if there are insufficient votes to approve the Merger Agreement Proposal at this time of the special meeting. We refer to the foregoing proposal as the Adjournment Proposal. The Board of Directors at this time does not believe an adjournment of this meeting will be necessary or appropriate. Accordingly, at this time, we do not intend to open or close the polls on this proposal. I will inform you if a contrary determination is made. If you have any questions in line with the rules of order for this meeting, please submit your questions through the website for this meeting, and we will answer as appropriate. Seeing no questions, it is now 10:09 on February 3rd, 2026, and the polls remain open for voting on the Merger Agreement Proposal and the Merger-related Compensation Proposal. Will the Secretary please describe the voting process? Each stockholder of record of Semrush's Class A Common Stock as of the close of business on December 26, 2025, is entitled to one vote per share. Each stockholder of record of Semrush's Class B Common Stock as of the close of business on December 26, 2025, is entitled to 10 votes per share. The shares of Class A Common Stock and Class B Common Stock will be voted together as a single class on the Merger Agreement Proposal and the Merger-related Compensation Proposal. The Merger Agreement Proposal requires the affirmative vote of holders of a majority of the voting power of all outstanding shares of Semrush's Common Stock as of the close of business on December 26, 2025, in order to be adopted. The Merger-related Compensation Proposal requires the affirmative vote of holders of a majority of the voting power of the shares of Semrush's Common Stock present virtually or represented by proxy at this time in order to be approved. If a stockholder has already submitted a proxy by mail, by telephone, or over the Internet, the votes of the shares represented by such proxy have already been counted, and no further action with respect to such shares is required unless you desire to change your vote. If you still have a proxy card that you wish to have voted or want to vote your shares now, you may do so on the website for this meeting through the "Vote Here" button on the bottom of your screen. We will now pause to allow stockholders to submit any remaining votes. Since all stockholders have had an adequate time to vote, it is now 10:10 A.M. on February 3rd, 2026, and I hereby declare that the polls are now closed on the Merger Agreement Proposal and the Merger-related Compensation Proposal. Will the Inspector of Elections please present the preliminary results of the voting? The preliminary results are as follows. With respect to the Merger Agreement Proposal, the proposal received the affirmative vote of holders of a majority of the voting power of all outstanding shares of Semrush's Common Stock as of the close of business on December 26, 2025. With respect to the Merger-related Compensation Proposal, the proposal received the affirmative vote of holders of a majority of the voting power of the shares of Semrush's Common Stock present virtually or represented by proxy at this meeting. Based on the preliminary report of the Inspector of Elections, the Merger Agreement Proposal has been adopted, and the Merger-related Compensation Proposal has been approved on an advisory basis. The final report of the Inspector of Elections will be attached to the minutes of this meeting, and the ballots cast will be filed with the records of this meeting. Within four business days, Semrush will file a Form 8-K with the SEC disclosing the specific voting results for the matters voted on at this meeting. There being no further business to come before this meeting, I will hereby adjourn this meeting. We would like to thank our stockholders and guests for attending. This meeting is now concluded. That concludes today's meeting. Thank you all for joining. You may now disconnect. Everyone, have a great day.