Comments on Engagement with Starboard Value

BILL (NYSE: BILL), a leading financial operations platform for small and midsize businesses (SMBs), today issued the following statement:

The BILL Board of Directors and management team, which includes BILL’s founder and one of its largest shareholders, are committed to driving sustainable, long-term growth and value creation. As recently reported, our strategic execution is delivering positive performance despite the challenging macro environment for SMBs.

We believe in BILL’s future and are confident in our ability to drive revenue growth and profitability, and create sustained value for our customers, partners, and shareholders. Our conviction is underscored by the Company’s recently announced $300 million share repurchase program.

The perspectives of all BILL shareholders are important to us, and members of BILL’s management team have talked with Starboard’s representatives since they recently contacted us about their investment. We intend to engage with Starboard to understand their views as we do with other shareholders.

BILL noted that Starboard has informed management that they intend to nominate candidates for election to the Company’s Board at the 2025 Annual Meeting of Stockholders. The BILL Board and its Nominating and Corporate Governance Committee will consider Starboard’s nominees when received pursuant to established processes.

About BILL

BILL (NYSE: BILL) is a leading financial operations platform for small and midsize businesses (SMBs). As a champion of SMBs, we are automating the future of finance so businesses can thrive. Our integrated platform helps businesses to more efficiently control their payables, receivables and spend and expense management. Hundreds of thousands of businesses rely on BILL’s proprietary member network of millions to pay or get paid faster. Headquartered in San Jose, California, BILL is a trusted partner of leading U.S. financial institutions, accounting firms, and accounting software providers. For more information, visit bill.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are statements other than statements of historical facts, and statements in the future tense. Forward-looking statements are based on our expectations as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, many of which involve factors or circumstances that are beyond our control. These statements include, but are not limited to, statements regarding our expectations of future performance, our revenue growth and profitability profile, and activity under our share repurchase program. These risks and uncertainties include, but are not limited to macroeconomic factors, including changes in interest rates, significant political and regulatory developments or changes in trade policy, including the imposition of tariffs and other trade barriers, inflationary, recessionary, and volatile market environments, as well as fluctuations in foreign exchange rates, our history of operating losses, our recent rapid growth, the large sums of customer funds that we transfer daily, the risk of loss, errors and fraudulent activity, credit risk related to our BILL Divvy Cards and our invoice financing offering, our ability to attract new customers and convert trial customers into paying customers, our expectations for developing and deploying AI agents and other AI tools, our ability to invest in our business and develop new products and services, increased competition or new entrants in the marketplace, potential impacts of acquisitions, investments and other strategic transactions, our relationships with accounting firms, financial institutions and software providers, the global impacts of ongoing geopolitical conflicts, the actual and expected impacts of the above factors on the SMBs we serve and other risks detailed in the registration statements and periodic reports we file with the SEC, including our quarterly and annual reports, which may be obtained on the Investor Relations section of BILL’s website (https://investor.bill.com/financials/sec-filings/default.aspx) and on the SEC website at www.sec.gov. You should not rely on these forward-looking statements, as actual results may differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties. All forward-looking statements in this press release are based on information available to us as of the date hereof. We assume no obligation to update or revise the forward-looking statements contained in this press release because of new information, future events, or otherwise.

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