<SEC-DOCUMENT>0001104659-23-115337.txt : 20231107
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<ACCEPTANCE-DATETIME>20231107172055
ACCESSION NUMBER:		0001104659-23-115337
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20231107
DATE AS OF CHANGE:		20231107

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SPLUNK INC
		CENTRAL INDEX KEY:			0001353283
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				861106510
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		DEFA14A
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		FILM NUMBER:		231385145

	BUSINESS ADDRESS:	
		STREET 1:		270 BRANNAN STREET
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94107
		BUSINESS PHONE:		415-848-8400

	MAIL ADDRESS:	
		STREET 1:		270 BRANNAN STREET
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94107

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CISCO SYSTEMS, INC.
		CENTRAL INDEX KEY:			0000858877
		STANDARD INDUSTRIAL CLASSIFICATION:	COMPUTER COMMUNICATIONS EQUIPMENT [3576]
		IRS NUMBER:				770059951
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0727

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
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		FILM NUMBER:		231385146

	BUSINESS ADDRESS:	
		STREET 1:		170 WEST TASMAN DR
		CITY:			SAN JOSE
		STATE:			CA
		ZIP:			95134-1706
		BUSINESS PHONE:		4085264000

	MAIL ADDRESS:	
		STREET 1:		170 WEST TASMAN DR
		CITY:			SAN JOSE
		STATE:			CA
		ZIP:			95134-1706

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CISCO SYSTEMS INC
		DATE OF NAME CHANGE:	19920703
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<P STYLE="margin: 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><I>On November&nbsp;7, 2023, Gary Steele,
President and CEO of Splunk Inc. (the &ldquo;Company&rdquo;), attended a keynote at the 28th Annual Cisco Partner Summit hosted by Cisco
Systems,&nbsp;Inc. and the following are excerpts from a transcript thereof. The transcript was prepared by a third party, has not been
independently verified by the Company, and may contain typographical mistakes, inaudible statements, errors, omissions or inaccuracies,
none of which the Company believes are material.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black">* * *</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">CHUCK ROBBINS: Now, at
the intersection of AI and security, we saw an opportunity. We saw an opportunity to announce, in September, the largest acquisition
in Cisco's history, Splunk. When you combine Cisco and Splunk, we will be one of the largest software companies in the world. And we
didn't think we could get on stage this week and talk to you without giving you some insight into what we think is possible with Cisco
and Splunk coming together.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">And we're going to do this
in a legally acceptable way.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">[LAUGHTER]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">And we thought, what's
the best way for us to talk to you about what's possible with Cisco and Splunk, other than to have the CEO of Splunk, Gary Steele, join
me on stage. Please welcome Gary.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">[MUSIC PLAYING]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">All right. All right, Gary,
well, thank you for joining us.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">GARY STEELE: It is great
to be here.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">CHUCK ROBBINS: A lot of
people out here are interested in what you're thinking here. But I want to start with a-- we're going to talk a little bit about, who's
Splunk.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">GARY STEELE: OK.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">CHUCK ROBBINS: But first,&nbsp;I
have to tell these folks. I got a text. You and I were sitting in the room,&nbsp;I think, if you remember, before we went on CNBC that
morning. And I got a text that said, who names their company Splunk anyway?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">GARY STEELE: [LAUGHS]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">CHUCK ROBBINS: But we don't
have to go there. But there are a lot of people in the room that probably know you really well. There are a lot of people in the room
who probably don't know you as well. So, tell us a little bit about Splunk.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">GARY STEELE: You bet. So,
Splunk's business is helping drive resilience in businesses today. And that's across cybersecurity, as well as observability. We're roughly
8,000 people, roughly $4 billion in revenue. Our growth has been in the teens, high teens. And I have to say,&nbsp;I couldn't be more
excited about the opportunity to be part of Cisco. Working with Chuck and the team,&nbsp;I think there's a lot we can do.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">And most importantly,&nbsp;I'm
very excited about the opportunity to work with all of you because one of the things that got me super excited about this opportunity
was to leverage the amazing channel that Cisco has built, and the broader partner community. So,&nbsp;I'm super excited about that. And
again,&nbsp;I think the combination of our products from a security perspective, as well as broadly in the observability market,&nbsp;I
think we can do a lot together.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">CHUCK ROBBINS: That's great.
So, you mentioned partners. And we've actually had a partnership for a decade between Cisco and Splunk already. So we know each other
well. We were joking backstage earlier that there's a lot of ex-Cisco people, ex-Splunk, and vice versa. So, we've crossed. But from
a partnering perspective,&nbsp;I know that a lot of these partners would like to understand, how do you think about partnership? And
what are you excited about, relative to that opportunity?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">GARY STEELE: Yeah,&nbsp;I
believe there's tremendous value that can be delivered on behalf of partners. One of the things that we wake up and think about every
single day is adoption. How do we get our customers to leverage Splunk more fully within their environment, more fully within security,
and then, more broadly, driving digital resilience across their broad digital footprint? And partners will play a critical role. We believe
that there's no way we can deliver all those services. We absolutely need this partner community. And there's so much opportunity where
customers say to us, we need your help. We need the help to drive the value and adoption of the critical capabilities. So, all the partner
community represents a critical opportunity for us.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">CHUCK ROBBINS: And as we
think about solving our customers' problems, and working with our customers, we always tend to do it in conjunction with the people in
this room and those that are watching virtually and around the world. And so, what is the value proposition of us coming together? What's
your view on what we bring to customers when we come together?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">GARY STEELE: Yeah,&nbsp;I
think that's what really got me excited when we first started having discussions. The combination of what Splunk is delivering to security
professionals around the globe today were the underpinnings of the security operation centers around the globe, coupled with that, the
newly-released XDR capabilities from Cisco,&nbsp;I think, just put us in an amazing position in the market, and one where you can confidently
win every single day.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">Looking broadly at observability,
bringing together the capabilities of Vap D with the Splunk Observability Cloud, helping customers manage this hybrid, multi-cloud environment
that is super complicated. But I think we're in a very unique position to go out and win in the market and help customers tackle that.
And that's what gets me super excited about this. And I think there's so much we can do to create value for customers, where you, as
partners, really help deliver that value.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">CHUCK ROBBINS: Yeah, and
I think that's played out in most of the analyst assessments. I mean, obviously, we have to execute. We know that.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">GARY STEELE: We do. And
we will.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">CHUCK ROBBINS: And we will.
But most view this as a really good combination. And I think that the work that our team has done with the XDR platform, and I just want
to call out that team for building that out, and then the great work that Liz and the observability team have done to create the FSO
platform we'll talk about,&nbsp;I think we're really well prepared for this--</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">GARY STEELE: Absolutely.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">CHUCK ROBBINS: --in ways
that we might not have been 18 months ago. So, where do we go from here?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">GARY STEELE: Well--</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">CHUCK ROBBINS: We have
to get it approved.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">GARY STEELE: We have to
get it approved. And so, just for context, getting it approved, we think this will finish by September&nbsp;of '24. And Chuck and I are
both optimistic,&nbsp;I think, that we get it done before that. But in the meantime, there's opportunity for each of you to think about,
how would Splunk fit into your portfolio? You can engage directly with Splunk. The lawyers will be fine with that. And there's opportunity
to drive enablement, come up to speed, understand where Splunk fits, and how you can play an active role in driving value for customers.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">And so, while we have a
process to wait while we get through the regulatory approvals, there's a lot we can do. And we want to engage. We welcome the opportunity
for partners to review Splunk. Get engaged with us. And our team would welcome the opportunity. And we think broadly about the partner
community. Managed services, professional services, implementation services, there's lots of ways to make money in the broad Splunk ecosystem.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">CHUCK ROBBINS: Well, Gary,&nbsp;I
want to congratulate you on how much progress you've made since you took over 18 to 20 months ago.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">GARY STEELE: About 18 months,
yeah.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">CHUCK ROBBINS: 18 months
ago. You've done an amazing job on the commercial terms on the innovation side, simplifying the company. And we're really looking forward
to it. So, thanks for being here today. I know the partners really appreciate it.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">GARY STEELE: Thank you
so much. It's a pleasure.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">CHUCK ROBBINS: Thank you.
[&hellip;] And as we talk about the Splunk Cisco opportunity together, and we talk about the XDR platform that has been built with the
SIM platform that Splunk has, we think there's an incredible opportunity to deliver a real-time platform that is actually ingesting threat
information from lots of different vendors. That was a big thing that I loved about the XDR launch. We had many of our competitors and
peers in the security industry that agreed to ingest their data into that platform. That's what this industry has needed for a very,
very long time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">And the integration of
AI, and the move to simplicity across the offerings, and the things that the security team are delivering, you're going to hear a lot
about that this week from our teams. As we look at all these opportunities, there are also things that we need to do better, right? And
by the way, every year. We're going to stand up here and probably say the same things. We need to continue to give more choice.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">We've talked about the
need to provide choice to our customers in how they consume our technology. Oliver was up here talking about managed services earlier.
It's a huge opportunity. And it's growing. It is going to be a significant percentage of the TAM for all of us over the next few years,
$161 billion by 2027, and over half of that coming in networking and security. This week, you're going to hear about CX support offers,
managed security offers, networking, secure networking campaigns, SMB offers. The teams are really focused.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">And I'll say, from our
engineering teams, we are now building technology. We're building technology from the get-go with the concept of you delivering it as
a managed service, as opposed to having to figure it out after the fact. What a novel concept!</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black">* * *</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">JEETU PATEL: Now, the beauty
about this is, what does this do? And how does Splunk fit into all of this? Well, Splunk has a SIEM, which is an incident event management
platform for security. We have XDR, and Splunk also has SOAR, which is an orchestration platform for workflows.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">So for example,&nbsp;I
can go out and ask a question of a SIEM saying, hey, who are the people that went out and connected in the past five days from an unmanaged
device? SIEM is going to give me that answer. SOAR says, go ahead and automate the passwords I might have within my organization so that
everyone updates their passwords every 90 days. That's that workflow gets automated by SOAR. And XDR allows you to say,&nbsp;I'm going
to have a breach. I can detect, respond, remediate, and recover from it as quickly as possible.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">The combination of these
three things together create pure magic. And so that's what we'll be able to have as we move forward. Now, as you think about this, there's
no one else in the market that has this kind of data and telemetry. And in security, it is a data game. You have to make sure that you
use the data to operate at machine scale, because security can no longer be operated at human scale.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">And what Splunk allows
us to do is provides the data platform and ties it to XDR with all the assets they have and all the assets we have. You can really keep
the world safer. But as you think about all of these areas-- we talked about three areas, user protection, breach protection, cloud protection.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">But now, when you think
about it, firewall is foundational to all of this, because when you think about a VPN, that terminates on the firewall for user protection.
If you think about the cloud, the firewall is the gateway to take you to the applications out in the cloud and bring you back to the
private data center if you need to. When you think about breach protection, the largest amount of telemetry that we collect is from the
firewall.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black"><B>Splunk Cautionary Statement
Regarding Forward-Looking Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">This transcript contains &ldquo;forward-looking
statements&rdquo; within the meaning of the federal securities laws, including Section&nbsp;27A of the Securities Act of 1933, as amended,
and Section&nbsp;21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Splunk&rsquo;s
current expectations, estimates and projections about the expected date of closing of the proposed transaction and the potential benefits
thereof, its business and industry, management&rsquo;s beliefs and certain assumptions made by Splunk and Cisco, all of which are subject
to change. In this context, forward-looking statements often address expected future business and financial performance and financial
condition, and often contain words such as &ldquo;expect,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;intend,&rdquo; &ldquo;plan,&rdquo;
 &ldquo;believe,&rdquo; &ldquo;could,&rdquo; &ldquo;seek,&rdquo; &ldquo;see,&rdquo; &ldquo;will,&rdquo; &ldquo;may,&rdquo; &ldquo;would,&rdquo;
 &ldquo;might,&rdquo; &ldquo;potentially,&rdquo; &ldquo;estimate,&rdquo; &ldquo;continue,&rdquo; &ldquo;expect,&rdquo; &ldquo;target,&rdquo;
similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes.
All forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond our control,
and are not guarantees of future results, such as statements about the consummation of the proposed transaction and the anticipated benefits
thereof. These and other forward-looking statements, including the failure to consummate the proposed transaction or to make or take
any filing or other action required to consummate the transaction on a timely matter or at all, are not guarantees of future results
and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in
any forward-looking statements. Accordingly, there are or will be important factors that could cause actual results to differ materially
from those indicated in such statements and, therefore, you should not place undue reliance on any such statements and caution must be
exercised in relying on forward-looking statements. Important risk factors that may cause such a difference include, but are not limited
to: (i)&nbsp;the completion of the proposed transaction on anticipated terms and timing, including obtaining shareholder and regulatory
approvals, anticipated tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic
performance, indebtedness, financial condition, losses, future prospects, business and management strategies for the management, expansion
and growth of Splunk&rsquo;s business and other conditions to the completion of the transaction; (ii)&nbsp;the impact of the COVID-19
pandemic on Splunk&rsquo;s business and general economic conditions; (iii)&nbsp;Splunk&rsquo;s ability to implement its business strategy;
(iv)&nbsp;significant transaction costs associated with the proposed transaction; (v)&nbsp;potential litigation relating to the proposed
transaction; (vi)&nbsp;the risk that disruptions from the proposed transaction will harm Splunk&rsquo;s business, including current plans
and operations; (vii)&nbsp;the ability of Splunk to retain and hire key personnel; (viii)&nbsp;potential adverse reactions or changes
to business relationships resulting from the announcement or completion of the proposed transaction; (ix)&nbsp;legislative, regulatory
and economic developments affecting Splunk&rsquo;s business; (x)&nbsp;general economic and market developments and conditions; (xi)&nbsp;the
evolving legal, regulatory and tax regimes under which Splunk operates; (xii)&nbsp;potential business uncertainty, including changes
to existing business relationships, during the pendency of the merger that could affect Splunk&rsquo;s financial performance; (xiii)&nbsp;restrictions
during the pendency of the proposed transaction that may impact Splunk&rsquo;s ability to pursue certain business opportunities or strategic
transactions; and (xiv)&nbsp;unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or
outbreak of war or hostilities, as well as Splunk&rsquo;s response to any of the aforementioned factors. These risks, as well as other
risks associated with the proposed transaction, are more fully discussed in the definitive proxy statement filed with the U.S. Securities
and Exchange Commission on October&nbsp;30, 2023 in connection with the proposed transaction. While the list of factors presented here
is, and the list of factors presented in the proxy statement is, considered representative, no such list should be considered to be a
complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization
of forward looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking
statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties
and similar risks, any of which could have a material adverse effect on Splunk&rsquo;s financial condition, results of operations, or
liquidity. Splunk does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether
as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities
and other applicable laws.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black"><B>Cisco Cautionary Statement
Regarding Forward-Looking Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">This transcript may be deemed
to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995.&nbsp; Any statements that are not statements of historical fact (including statements containing the words &ldquo;will,&rdquo;
 &ldquo;believes,&rdquo; &ldquo;plans,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;expects,&rdquo; &ldquo;estimates,&rdquo; &ldquo;strives,&rdquo;
 &ldquo;goal,&rdquo; &ldquo;intends,&rdquo; &ldquo;may,&rdquo; &ldquo;endeavors,&rdquo; &ldquo;continues,&rdquo; &ldquo;projects,&rdquo;
 &ldquo;seeks,&rdquo; or &ldquo;targets,&rdquo; or the negative of these terms or other comparable terminology, as well as similar expressions)
should be considered to be forward-looking statements, although not all forward-looking statements contain these identifying words.&nbsp;
Readers should not place undue reliance on these forward-looking statements, as these statements are the management&rsquo;s beliefs and
assumptions, many of which, by their nature, are inherently uncertain, and outside of the management&rsquo;s control.&nbsp; Forward-looking
statements may include statements regarding the expected benefits to Cisco, Splunk and their respective customers from completing the
transaction, the integration of Splunk&rsquo;s and Cisco&rsquo;s complementary capabilities to create an end-to-end platform designed
to unlock greater digital resilience for customers, plans for future investment and capital allocation, the expected financial performance
of Cisco following the expected completion of the transaction, and the expected completion of the transaction.&nbsp; Statements regarding
future events are based on the parties&rsquo; current expectations, estimates and projections and are necessarily subject to associated
risks related to, among other things, (i)&nbsp;the completion of the proposed transaction on anticipated terms and timing, including
obtaining stockholder and regulatory approvals and other conditions to the completion of the transaction, (ii)&nbsp;the effect of the
announcement or pendency of the proposed transaction on Splunk&rsquo;s business, operating results, and relationships with customers,
suppliers, competitors and others, (iii)&nbsp;risks that the proposed transaction may disrupt Splunk&rsquo;s current plans and business
operations, (iv)&nbsp;risks related to the diverting of management&rsquo;s attention from Splunk&rsquo;s ongoing business operations,
(v)&nbsp;the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreement,
(vi)&nbsp;the outcome of any legal proceedings related to the transaction, (vii)&nbsp;the potential effects on the accounting of the
proposed transaction, (viii)&nbsp;legislative, regulatory and economic developments, (ix)&nbsp;general economic conditions, (x)&nbsp;restrictions
during the pendency of the proposed transaction that may impact Splunk&rsquo;s ability to pursue certain business opportunities or strategic
transactions, (xi)&nbsp;the retention of key personnel, and (xii)&nbsp;the ability of Cisco to successfully integrate Splunk&rsquo;s
market opportunities, technology, personnel and operations and to achieve expected benefits. Therefore, actual results may differ materially
and adversely from the anticipated results or outcomes indicated in any forward-looking statements. For information regarding other related
risks, see the &ldquo;Risk Factors&rdquo; section of Cisco&rsquo;s most recent report on Form&nbsp;10-K filed on September&nbsp;7, 2023,
the &ldquo;Risk Factors&rdquo; section of Splunk&rsquo;s most recent reports on Form&nbsp;10-Q and Form&nbsp;10-K filed with the SEC
on August&nbsp;24, 2023 and March&nbsp;23, 2023, respectively, and risks described in the definitive proxy statement relating to the
transaction filed with the SEC by Splunk on October&nbsp;30, 2023. The parties undertake no obligation to revise or update any forward-looking
statements for any reason, except as required by law.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black"><B>Additional Information
and Where to Find It</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">In connection with the proposed transaction
and required stockholder approval, Splunk filed with the SEC a definitive proxy statement on October&nbsp;30, 2023. The proxy statement
has been mailed to the stockholders of Splunk. This document is not a substitute for the proxy statement or any other document which
Splunk may file with the SEC. <B>Splunk&rsquo;s stockholders are urged to carefully read the proxy statement (including all amendments,
supplements and any documents incorporated by reference therein) and other relevant materials filed or to be filed with the SEC and in
their entirety because they contain important information about the proposed transaction and the parties to the transaction.</B> Investors
may obtain free copies of these documents and other documents filed with the SEC at its website at <U>www.sec.gov</U>. In addition, investors
may obtain free copies of the documents filed with the SEC by Splunk by going to Splunk&rsquo;s Investor Relations page&nbsp;on its corporate
website at <U>https://investors.splunk.com</U> or by contacting Splunk Investor Relations at <U>ir@splunk.com</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black"><B>Participants in the
Solicitation</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="color: Black">Splunk and its executive
officers and directors may be deemed to be participants in the solicitation of proxies from Splunk&rsquo;s stockholders with respect
to the transaction. Information about Splunk&rsquo;s directors and executive officers, including their ownership of Splunk securities,
is set forth in the definitive proxy statement related to the transaction, which was filed with the SEC on October&nbsp;30, 2023, proxy
statement for Splunk&rsquo;s 2023 Annual Meeting of Stockholders, which was filed with the SEC on May&nbsp;9, 2023, Form&nbsp;8-K filed
with the SEC on September&nbsp;21, 2023, and Splunk&rsquo;s other filings with the SEC. Investors may obtain more detailed information
regarding the direct and indirect interests of Splunk and its respective executive officers and directors in the transaction, which may
be different than those of Splunk stockholders generally, by reading the definitive proxy statement regarding the transaction, which
was filed with the SEC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">In addition, Cisco and its executive officers
and directors may be deemed to have participated in the solicitation of proxies from Splunk&rsquo;s stockholders in favor of the approval
of the transaction. Information concerning Cisco&rsquo;s directors and executive officers is set forth in Cisco&rsquo;s proxy statement
for its 2023 Annual Meeting of Stockholders, which was filed with the SEC on October&nbsp;17, 2023, the 2023 annual report furnished
to security holders on October&nbsp;17, 2023, annual report on Form&nbsp;10-K filed with the SEC on September&nbsp;7, 2023, Form&nbsp;8-K
filed with the SEC on September&nbsp;21, 2023 and Cisco&rsquo;s other filings with the SEC. These documents are available free of charge
at the SEC&rsquo;s website at <U>www.sec.gov</U> or by going to Cisco&rsquo;s Investor Relations website at <U>https://investor.cisco.com</U>.</FONT></P>

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