SailPoint, Inc.

SUMMARY OF PRINCIPAL RISK FACTORS

The following is a summary of the principal risk factors that could materially adversely affect our business, financial condition, and results of operations and, consequently, make an investment in us risky:

•We have experienced rapid growth in recent periods, and our recent growth rates may not be indicative of our future growth.

•Our future revenues and operating results will be harmed if we are unable to acquire new customers, if our customers do not renew their arrangements with us, if we are unable to expand sales to our existing customers, or if we are unable to develop new solutions that achieve market acceptance.

•If the market for identity security solutions does not grow, our ability to grow our business and our results of operations may be adversely affected.

•If we are unable to maintain successful relationships with our channel partners, our ability to market, sell, distribute, and implement our solutions will be limited, and our business, financial condition, and operating results would be adversely affected.

•Our quarterly results fluctuate significantly and may not fully reflect the underlying performance of our business.

•Our sales cycle is long and unpredictable, and our sales efforts require considerable time and expense.

•We face intense competition in our market, both from larger, well-established companies and from emerging companies and technologies, and we may lack sufficient financial and other resources to maintain and improve our competitive position.

•We anticipate that our operations will continue to increase in complexity as we grow, which will add additional challenges to the management of our business in the future.

•If we are not able to maintain and enhance our brand or reputation as an industry leader and innovator, our business and operating results may be adversely affected.

•Our success depends on the experience and expertise of our senior management team and key employees. If we are unable to hire, retain, train, and motivate our personnel, or to maintain our corporate culture, our business, operating results, and prospects may be harmed.

•Our introduction and use of AI, and the integration of AI with our solutions, may not be successful and may present business, compliance, and reputational challenges, which could lead to operational or reputational damage, competitive harm, legal and regulatory risk, and additional costs, any of which could adversely affect our business, financial condition, and results of operations.

•Our ability to introduce new identity security solutions and features is dependent on adequate research and development resources and our ability to successfully complete acquisitions. If we do not adequately fund our research and development efforts or complete acquisitions successfully, we may not be able to compete effectively, and our business and results of operations may be harmed.

•Cyber attacks or other cybersecurity breaches, incidents, or disruptions with respect to our networks, systems, or applications, including unauthorized access to, or disclosure or other processing of, our proprietary, confidential, or sensitive information, including personal information, could disrupt our operations, compromise sensitive information related to our business or personal information processed by us or on our behalf, and expose us to liability, which could harm our reputation and adversely affect our business, financial condition, and results of operations, and as we grow, we may become a more attractive target for cyber attacks.

•Interruptions, outages, or other disruptions affecting the delivery of our SaaS solution, or any of the third-party cloud-based systems that we use in our operations, may adversely affect our business, operating results, and financial condition.

•Real or perceived errors, failures or disruptions in our platform and solutions could adversely affect our customers’ satisfaction with our solutions and/or our industry reputation and business could be harmed.

•Thoma Bravo (as defined below) controls us, and its interests may conflict with ours or yours in the future.

We describe these and other material risks relating to an investment in us in greater detail under Part I, Item 1A, “Risk Factors.”

PART I