Preliminary effects for the third quarter of fiscal year 2020

The final general monetary processes and preparation of Progress’s monetary statements are in their early stages, however, management is the maximum up-to-date information that is expected to be within the following ranges of the third quarter of 2020:

Progress’s initial monetary effects for the third quarter of fiscal 2020 reflect better-than-expected earnings functionality for some of our product lines, along with continuous load control and operational efficiency.

Business Outlook 2020

Based on data available as of September 8, 2020, Progress forecasts the following revised trade prospects for the year ending November 30, 2020:

The revised business outlook for the entire year 2020 is subject to review until Progress publishes its business outlook for the full year 2020 on September 29, 2020. As announced separately on September 8, 2020, Progress signed a final agreement to obtain Chef Software. Inc. (“Chief”). The revised trade outlook in the table above includes an expected contribution from the Chief of approximately $5 to $7 million to GAAP revenue and $10 to $12 million to non-GAAP revenue, and a negative effect on $0. 27 to $0. 31 on consistent GAAP gains with consistent percentage and $0. 00 to $0. 04 for non-GAAP gains consistent with consistent percentage.

Conference

Legal performance of non-GAAP monetary information

Progress provides non-GAAP monetary data as additional data for investors. These non-GAAP measures do not comply with the accounting principles accepted in the United States (“GAAP”), nor are they an option for accepted accounting principles. -The GAAP effects described in this press release are useful for understanding your ongoing operations and provide more main points and a choice approach to comparing your operational effects. A reconciliation of non-GAAP changes with the Company’s GAAP monetary effects is included in the tables below and can be obtained on the Progress to www. progress. com online page in the Investor Relations section. Additional data related to the Company’s non-GAAP monetary data can be found in the Company’s existing report on Form 8-K provided to the Securities Exchange Commission as a component of this press release, which is also located on the Progress online page in the Investor Relations section.

Note related to forward-forward statements

This press release statements that are “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. Looking at statements with words like “believe,” “can,” “could,” “could,” “could,” “should,” “expect,” “pretend,” “plan,” “goal,” “anticipate,” and “continue,” the negative of unit words, other terms of similar meaning, or the use of long-term dates.

(1) Economic, geopolitical and market conditions could possibly negatively affect our business, the effects of operations and the monetary condition, adding our expansion of profits and the destruction of profits, which in turn can also be simply unfavorable in the value of our shares. (2) We may not meet our monetary forecast due to points such as transaction delays or reductions, fewer giant transactions in a given quarter, exchange rate fluctuations, or a decrease in our contract renewal rates. (3) Our ability to successfully manage transitions to new business models and market places, adding greater emphasis on a cloud and subscription strategy, may not be a success. (4) If we are unable to expand new or sufficiently differentiated products and facilities, or improve and enhance our existing products and facilities in a timely manner to meet market demand, partners and consumers cannot purchase new software licenses or subscriptions. or acquire or renew aid contracts. (5) We depend on our extensive partner network and may not be successful in maintaining or expanding our relationships with channel partners. (6) Our sales and operations abroad disclose additional hazards to us that could potentially harm our effects of operations, adding hazards related to foreign exchange gains and losses. (7) If the security measures of our software, facilities or other offerings are compromised or subject to a successful cyberattack, or if those offers involve significant coding or configuration errors, we may suffer reputational damage, legal claims, and monetary exposure. . (8) We have made acquisitions and would possibly make long-term acquisitions, adding our close acquisition of Chef, and such acquisitions may not be successful, involve unanticipated pricing or other integration issues, or disrupt our operations. existing. (9) A delay or ability to complete the proposed Chef acquisition may also adversely affect our long-term operating effects and financial condition; (10) The coronavirus disease (COVID-19) outbreak and its effect may also affect our employees, consumers, partners, and global money markets, and may also adversely affect our business, the effects of operations, and our condition. monetary. For additional data related to hazards and uncertainties related to Progress’s business, please refer to documents filed through Progress with the Securities and Exchange Commission, adding your Annual Report on Form 10-K for the fiscal year ended on November 30, 2019. Progress does not adopt to update any forward-looking statements that refer solely to the date of this press release.

About progress

Progress (NASDAQ: PRGS) provides the leading platform for the progression and implementation of strategic business applications. We enable our consumers and components to deliver modern, high-impact virtual reports with a fraction of our effort, time, and cost. to seamlessly create adaptive user reports on any type of device or point of contact, the flexibility of an on-premises cloud application progression platform to deliver fashionable apps, knowledge connectivity technology, Internet content management, business rules, secure record transfer, network monitoring and awards -winning device learning that allows cognitive talents to be part of any application. More than 1,700 independent software vendors, 100,000 corporate consumers, and two million developers rely on Progress to force their applications. Discover Progress on www. progress. com or 1-800 -477-6473.

Progress and Progress Software are trademarks or registered trademarks of Progress Software Corporation and/or its subsidiaries or affiliates in the United States and other countries. All other names contained herein may be trademarks of their respective owners.

APPROXIMATION OF FINANCIAL MEASURES GAP AND NON-GAAP FOR 3Q 2020 (not audited)

GAP AND NON-GAAP FINANCIAL APPROACH FOR THE 2020 YEAR GUIDELINES (unaudited)