<SEC-DOCUMENT>0001193125-24-086520.txt : 20240404
<SEC-HEADER>0001193125-24-086520.hdr.sgml : 20240404
<ACCEPTANCE-DATETIME>20240404061026
ACCESSION NUMBER:		0001193125-24-086520
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240404
DATE AS OF CHANGE:		20240404

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TWILIO INC
		CENTRAL INDEX KEY:			0001447669
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		ORGANIZATION NAME:           	06 Technology
		IRS NUMBER:				262574840
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37806
		FILM NUMBER:		24821556

	BUSINESS ADDRESS:	
		STREET 1:		101 SPEAR STREET
		STREET 2:		SUITE 500
		CITY:			San Francisco
		STATE:			CA
		ZIP:			94105
		BUSINESS PHONE:		415-390-2337

	MAIL ADDRESS:	
		STREET 1:		101 SPEAR STREET
		STREET 2:		SUITE 500
		CITY:			San Francisco
		STATE:			CA
		ZIP:			94105
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>d823064ddefa14a.htm
<DESCRIPTION>DEFA14A
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<TITLE>DEFA14A</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section 13 or 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): April 3, 2024 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Twilio Inc. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name
of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>001-37806</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>26-2574840</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>(State or other jurisdiction<BR>of incorporation)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Commission<BR>File Number)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(IRS Employer<BR>Identification No.)</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>101 Spear Street, Fifth Floor,</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>San Francisco, California 94105</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>(Address of principal executive offices, including zip code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (415) 390-2337 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
name or former address, if changed since last report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </P></TD></TR></TABLE>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities registered pursuant to Section 12(b) of the Act: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Title of each class</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Trading<BR>Symbol(s)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Name of each exchange<BR>on which registered</B></P></TD></TR>


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<TD VALIGN="top" ALIGN="center">Class&nbsp;A Common Stock, par value $0.001 per share</TD>
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<TD VALIGN="top" ALIGN="center">TWLO</TD>
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<TD VALIGN="top" ALIGN="center">New York Stock Exchange</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of
1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Emerging growth company
&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with
any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&#8201;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On April&nbsp;3, 2024, Byron Deeter, an independent member of the board of directors (the
&#147;Board&#148;) of Twilio Inc. (&#147;we,&#148; &#147;us,&#148; &#147;our,&#148; the &#147;Company&#148; and other similar terms), notified the Board of his decision to retire from, and not stand for
<FONT STYLE="white-space:nowrap">re-election</FONT> to, the Board effective as of the expiration of his current term immediately prior to the Company&#146;s 2024 annual meeting of stockholders (the &#147;2024 Annual Meeting&#148;).
Mr.&nbsp;Deeter&#146;s decision to retire from the Board was not due to any disagreement with the Company, the Board or management of the Company regarding any matter related to the Company&#146;s operations, policies, practices or otherwise. The
Board appreciates and thanks Mr.&nbsp;Deeter for his invaluable contribution to the Company through his service as a member of the Board. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Following
Mr.&nbsp;Deeter&#146;s retirement, the size of the Board will be reduced from ten to nine members and the size of Class&nbsp;II of the Board will be reduced from four to three directors. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&#8201;7.01 Regulation FD Disclosure. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On
April&nbsp;3, 2024, the Board approved, subject to and effective upon the approval of the Company&#146;s stockholders, an amendment to the Company&#146;s Amended and Restated Certificate of Incorporation, as amended (the &#147;Certificate
Amendment&#148;) to declassify the Board at the 2024 Annual Meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Currently, the Board is divided into three classes and each director is elected for
a three-year term. If the stockholders of the Company approve the Certificate Amendment at the 2024 Annual Meeting, effective upon the filing of the Certificate Amendment with the State of Delaware, the Board will be declassified and directors of
the Company will be elected to <FONT STYLE="white-space:nowrap">one-year</FONT> terms, beginning with the Company&#146;s 2025 annual meeting of stockholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On April&nbsp;3, 2024, the Company issued a press release announcing Mr.&nbsp;Deeter&#146;s decision to retire from the Board and the Company&#146;s intent to
declassify the Board. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> and incorporated herein by reference. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information furnished pursuant to Item 7.01 of this Current Report on Form <FONT STYLE="white-space:nowrap">8-K,</FONT> including Exhibit 99.1 hereto,
shall not be deemed to be &#147;filed&#148; for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that Section, and shall not be deemed to be incorporated by reference into any filing of
the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&#8201;9.01. Financial Statements and Exhibits. </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(d)<I></I></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>Exhibits</I>. </P></TD></TR></TABLE>
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<TD VALIGN="bottom" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman"><B>Description</B></P></TD></TR>


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<TD VALIGN="top">Press Release, dated April&nbsp;3, 2024</TD></TR>
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<TD VALIGN="top">Cover Page Interactive Data File (formatted as inline XBRL)</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" COLSPAN="3" NOWRAP><B>TWILIO INC.</B></TD></TR>
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<TD VALIGN="top">Date: April&nbsp;4, 2024</TD>
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<TD VALIGN="top" NOWRAP>By:</TD>
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<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Dana R. Wagner</P></TD></TR>
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<TD VALIGN="bottom" NOWRAP>Dana R. Wagner</TD></TR>
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<TD VALIGN="bottom" NOWRAP>Chief Legal Officer, Chief Compliance Officer and Secretary</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Twilio Announces Retirement of Byron Deeter and Board Declassification </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Byron Deeter, a Twilio Director Since 2010, to Retire from the Board by Twilio&#146;s 2024 Annual Meeting </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Twilio&#146;s Board of Directors Unanimously Votes to Seek Shareholder Approval for Declassification of Board </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SAN FRANCISCO</B> &#150; April&nbsp;3, 2024 &#150; Twilio (NYSE: TWLO), the customer engagement platform that drives real-time, personalized experiences
for today&#146;s leading brands, today announced that Byron Deeter, who has served on the company&#146;s Board of Directors since 2010, will not seek reelection as a director and will retire from the Board prior to the company&#146;s 2024 Annual
Meeting of Shareholders (&#147;Annual Meeting&#148;). The size of the Board will be reduced back to nine directors, effective as of Mr.&nbsp;Deeter&#146;s retirement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;On behalf of the Twilio Board, I&#146;d like to thank Byron for his invaluable contributions over the past fourteen years,&#148; said Khozema
Shipchandler, CEO of Twilio. &#147;Byron was one of Twilio&#146;s first investors, and our Board and shareholders have greatly benefited from his financial expertise and his extensive knowledge of the SaaS and cloud technology industry. He helped
guide the company from our earliest stages of growth to become the leading customer engagement platform. We are extremely grateful to Byron for his dedication to Twilio.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The company also announced that it will be seeking shareholder approval at the upcoming Annual Meeting for the declassification of the Board. If shareholder
approval is obtained, directors elected at the 2025 Annual Meeting and thereafter will be elected to <FONT STYLE="white-space:nowrap">one-year</FONT> terms. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;The Twilio Board is committed to upholding strong corporate governance practices,&#148; said Jeff Epstein, Chair of the Twilio Board. &#147;The decision
to seek shareholder approval to declassify the Board is one that we&#146;ve been considering for some time and is reflective of the meaningful engagement we&#146;ve had with our investors. This change builds on the sunsetting of the company&#146;s
dual class share structure last year, and the separation of the Chair and CEO roles earlier this year. Our Board will continue to act in the best interests of Twilio and all shareholders.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Working with Jeff, Khozema, and the entire Twilio team and Board has been an absolute thrill,&#148; said Byron Deeter. &#147;After fourteen wonderful
years I look forward to focusing my time on finding the next great software and AI companies on behalf of my partners at Bessemer Venture Partners, and my upcoming Chairmanship at the National Venture Capital Association. I will remain a close
friend and enthusiastic supporter of Twilio as they continue to lead in this revolution in communications and AI ahead.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Additional information
about these changes can be found in a Form <FONT STYLE="white-space:nowrap">8-K</FONT> that the company will file with the Securities and Exchange Commission. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Twilio Inc. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Today&#146;s leading companies trust Twilio&#146;s Customer Engagement Platform (CEP) to build direct, personalized relationships with their customers
everywhere in the world. Twilio enables companies to use communications and data to add intelligence and security to every step of the customer journey, from sales to marketing to growth, customer service and many more engagement use cases in a
flexible, programmatic way. Across 180 countries and territories, millions of developers and hundreds of thousands of businesses use Twilio to create magical experiences for their customers. For more information about Twilio (NYSE: TWLO) visit
www.twilio.com. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This
press release contains forward-looking statements within the meaning of the federal securities laws, which statements involve risks and uncertainties. Forward-looking statements generally relate to future events or Twilio&#146;s future financial or
operating performance. In some cases, you can identify forward-looking statements because they contain words such as &#147;may,&#148; &#147;can,&#148; &#147;will,&#148; &#147;would,&#148; &#147;should,&#148; &#147;expects,&#148; &#147;plans,&#148;
&#147;anticipates,&#148; &#147;could,&#148; &#147;intends,&#148; &#147;target,&#148; &#147;projects,&#148; &#147;contemplates,&#148; &#147;believes,&#148; &#147;estimates,&#148; &#147;predicts,&#148; &#147;forecasts,&#148; &#147;potential&#148; or
&#147;continue&#148; or the negative of these words or other similar terms or expressions that concern Twilio&#146;s expectations, strategy, plans or intentions. Forward-looking statements contained in this press release include, but are not limited
to, statements about: Twilio&#146;s future financial performance and its expectations regarding profitability and growth; Twilio&#146;s anticipated strategies and business plans; Twilio&#146;s ability to develop products related to AI and to execute
on its AI strategy; and Twilio&#146;s plans to hold an investor day and to share medium-term financial targets. You should not rely upon forward-looking statements as predictions of future events. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties, and other factors that may cause
Twilio&#146;s actual results, performance, or achievements to differ materially from those described in the forward-looking statements, including, among other things: Twilio&#146;s ability to successfully implement its cost-saving initiatives and to
capture expected efficiencies; Twilio&#146;s ability to realize the anticipated benefits of changes to its operating model and organizational structure; the impact of macroeconomic uncertainties and market volatility; Twilio&#146;s financial
performance, including expectations regarding its results of operations and the assumptions underlying such expectations, and ability to achieve and sustain profitability; Twilio&#146;s ability to attract and retain customers; Twilio&#146;s ability
to compete effectively in an intensely competitive market; Twilio&#146;s ability to comply with modified or new industry standards, laws and regulations applying to its business, and increased costs associated with regulatory compliance;
Twilio&#146;s ability to manage changes in network service provider fees and optimize its network service provider coverage and connectivity; Twilio&#146;s ability to form and expand partnerships; and Twilio&#146;s ability to successfully enter into
new markets and manage its international expansion. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The forward-looking statements contained in this press release are also subject to additional risks,
uncertainties, and factors, including those more fully described in Twilio&#146;s most recent filings with the Securities and Exchange Commission, including its Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> and subsequent
Quarterly Reports on Form <FONT STYLE="white-space:nowrap">10-Q.</FONT> Twilio operates in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements
contained in this press release. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Forward-looking statements represent Twilio&#146;s management&#146;s beliefs and assumptions only as of the date such
statements are made. Twilio undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances occurring after the date of this press release or to reflect new information or the
occurrence of unanticipated events, except as required by law. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Important Additional Information Regarding Proxy Solicitation </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Twilio intends to file a proxy statement and WHITE proxy card with the U.S. Securities and Exchange Commission (the &#147;SEC&#148;) in connection with its
solicitation of proxies for Twilio&#146;s 2024 annual meeting of shareholders (the &#147;Proxy Statement&#148; and such meeting the &#147;2024 Annual Meeting&#148;). Twilio, its directors, director nominees, certain of its executive officers and
other employees may be deemed participants in the solicitation of proxies from shareholders in respect of the 2024 Annual Meeting. Information regarding the names of Twilio&#146;s directors and executive officers and their respective interests in
Twilio by security holdings or otherwise is set forth in the Company&#146;s proxy statement for the 2023 Annual Meeting of stockholders, filed with the SEC on <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1447669/000114036123020583/ny20007281x1_def14a.htm">April
<U></U> 26, 2023</A> (the &#147;2023 Proxy Statement&#148;). Please refer to the sections captioned &#147;Security Ownership of Certain Beneficial Owners and Management,&#148; <FONT STYLE="white-space:nowrap">&#147;Non-Employee</FONT> Director
Compensation&#148; and &#147;Executive Compensation&#148; in the 2023 Proxy Statement. To the extent holdings of such participants in Twilio&#146;s securities have changed since the amounts described in the 2023 Proxy Statement, such changes have
been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC: Form 4, filed by Aidan Viggiano on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000105/xslF345X04/wf-form4_168435757062005.xml">May
<U></U> 17, 2023</A>; Form 4, filed by Dana Wagner on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000107/xslF345X04/wf-form4_168435779209810.xml">May 17, 2023</A>; Form 4, filed by Aidan Viggiano on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000111/xslF345X04/wk-form4_1686689145.xml">June
 13, 2023</A>; Form 4, filed by Miyuki Suzuki on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000113/xslF345X04/wk-form4_1686689400.xml">June 13, 2023</A>; Form 4, filed by Charles Bell on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000119/xslF345X04/wk-form4_1686775882.xml">June
<U></U>&nbsp;14, 2023</A>; Form 4, filed by Donna Dubinsky on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000123/xslF345X04/wk-form4_1686776470.xml">June&nbsp;
14, 2023</A>; Form 4, filed by Jeff Epstein on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000125/xslF345X04/wk-form4_1686776943.xml">June 14, 2023</A>; Form 4, filed by Jeffrey Immelt on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000127/xslF345X04/wk-form4_1686777080.xml">June
 14, 2023</A>; Form 4, filed by Deval Patrick on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000129/xslF345X04/wk-form4_1686777245.xml">June&nbsp;
14, 2023</A>; Form 4, filed by Erika Rottenberg on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000131/xslF345X04/wk-form4_1686777370.xml">June 14, 2023</A>; Form 4, filed by Miyuki Suzuki on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000133/xslF345X04/wk-form4_1686777549.xml">June
<U></U>&nbsp;14, 2023</A>; Form 4, filed by Byron Deeter on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000089924323015573/xslF345X04/doc4.xml">June<U></U>&nbsp;
14, 2023</A>; Form 4, filed by Erika Rottenberg on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000145/xslF345X04/wk-form4_1688158789.xml">June<U></U>&nbsp;
30, 2023</A>; Form 4, filed by Khozema Shipchandler on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000149/xslF345X04/wk-form4_1688591045.xml">July<U></U>&nbsp;
5, 2023</A>; Form 4, filed by Aidan Viggiano on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000151/xslF345X04/wk-form4_1688591393.xml">July<U></U>&nbsp;
5, 2023</A>; Form 4, filed by Dana Wagner on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000153/xslF345X04/wk-form4_1688591683.xml">July<U></U>&nbsp;
5, 2023</A>; Form 4, filed by Aidan Viggiano on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000157/xslF345X04/wk-form4_1689023861.xml">July<U></U>&nbsp;
10, 2023</A>; Form 4, filed by Dana Wagner on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000173/xslF345X05/wk-form4_1692222646.xml">August<U></U>&nbsp;
16, 2023</A>; Form 4, filed by Aidan Viggiano on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000175/xslF345X05/wk-form4_1692223152.xml">August<U></U>&nbsp;
16, 2023</A>; Form 4, filed by Aidan Viggiano on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000179/xslF345X05/wk-form4_1692740459.xml">August<U></U>&nbsp;
22, 2023</A>; Form 4, filed by Dana Wagner on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000183/xslF345X05/wk-form4_1694121378.xml">September<U></U>&nbsp;
7, 2023</A>; Form 4, filed by Charles Bell on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000185/xslF345X05/wk-form4_1695161300.xml">September<U></U> 19, 2023</A>; Form 4, filed by Donna Dubinsky on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000187/xslF345X05/wk-form4_1695161713.xml">September
<U></U>&nbsp;19, 2023</A>; Form 4, filed by Jeff Epstein on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000189/xslF345X05/wk-form4_1695162007.xml">September<U></U>&nbsp;
19, 2023</A>; Form 4, filed by Jeffrey Immelt on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000191/xslF345X05/wk-form4_1695162505.xml">September<U></U>&nbsp;
19, 2023</A>; Form 4, filed by Deval Patrick on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000193/xslF345X05/wk-form4_1695162776.xml">September<U></U>&nbsp;
19, 2023</A>; Form 4, filed by Erika Rottenberg on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000195/xslF345X05/wk-form4_1695163122.xml">September<U></U>&nbsp;
19, 2023</A>; Form 4, filed by Miyuki Suzuki on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000197/xslF345X05/wk-form4_1695163460.xml">September<U></U>&nbsp;
19, 2023</A>; Form 4, filed by Byron Deeter on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000095017023048890/xslF345X05/ownership.xml">September<U></U>&nbsp;
20, 2023</A>; Form 4, filed by Khozema Shipchandler on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000201/xslF345X05/wk-form4_1696461408.xml">October<U></U>&nbsp;
4, 2023</A>; Form 4, filed by Aidan Viggiano on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000203/xslF345X05/wk-form4_1696461567.xml">October<U></U>&nbsp;
4, 2023</A>; Form 4, filed by Dana Wagner on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000205/xslF345X05/wk-form4_1696461718.xml">October<U></U>&nbsp;
4, 2023</A>; Form 4, filed by Aidan Viggiano on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000209/xslF345X05/wk-form4_1696969175.xml">October<U></U>&nbsp;
10, 2023</A>; Form&#8201;4, filed by Dana Wagner on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000211/xslF345X05/wk-form4_1696969346.xml">October<U></U>&nbsp;
10, 2023</A>; Form 4, filed by Aidan Viggiano on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000230/xslF345X05/wk-form4_1700256899.xml">November<U></U>&nbsp;
17, 2023</A>; Form 4, filed by Dana Wagner on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000232/xslF345X05/wk-form4_1700257126.xml">November<U></U>&nbsp;
17, 2023</A>; Form 4, filed by Aidan Viggiano on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000236/xslF345X05/wk-form4_1700687738.xml">November<U></U>&nbsp;
22, 2023</A>; Form 4, filed by Dana Wagner on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000238/xslF345X05/wk-form4_1700687927.xml">November<U></U>&nbsp;
22, 2023</A>; Form 4, filed by Charles Bell on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000243/xslF345X05/wk-form4_1703021947.xml">December<U></U>&nbsp;
19, 2023</A>; Form 4, filed by Byron Deeter on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000089924323020662/xslF345X05/doc4.xml">December 19, 2023</A>; Form 4, filed by Donna Dubinsky on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000245/xslF345X05/wk-form4_1703022225.xml">December
<U></U>&nbsp;19, 2023</A>; Form 4, filed by Jeff Epstein on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000247/xslF345X05/wk-form4_1703022436.xml">December<U></U>&nbsp;
19, 2023</A>; Form 4, filed by Jeffrey Immelt on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000249/xslF345X05/wk-form4_1703022838.xml">December<U></U>&nbsp;
19, 2023</A>; Form 4, filed by Deval Patrick on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000251/xslF345X05/wk-form4_1703023177.xml">December<U></U>&nbsp;
19, 2023</A>; Form 4, filed by Erika Rottenberg on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000253/xslF345X05/wk-form4_1703023441.xml">December<U></U>&nbsp;
19, 2023</A>; Form 4, filed by Miyuki Suzuki on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766923000255/xslF345X05/wk-form4_1703023676.xml">December<U></U>&nbsp;
19, 2023</A>; Form 4, filed by Dana Wagner on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000002/xslF345X05/wk-form4_1704405735.xml">January<U></U>&nbsp;
4, 2024</A>; Form 4, filed by Khozema Shipchandler on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000004/xslF345X05/wk-form4_1704405991.xml">January<U></U>&nbsp;
4, 2024</A>; Form 4, filed by Aidan Viggiano on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000006/xslF345X05/wk-form4_1704406347.xml">January<U></U>&nbsp;
4, 2024</A>; Form 4, filed by Aidan Viggiano on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000008/xslF345X05/wk-form4_1704840378.xml">January<U></U>&nbsp;
9, 2024</A>; Form 4, filed by Dana Wagner on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000010/xslF345X05/wk-form4_1704840539.xml">January<U></U>&nbsp;
9, 2024</A>; Form 4, filed by Aidan Viggiano on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000017/xslF345X05/wk-form4_1708466569.xml">February<U></U>&nbsp;
20, 2024</A>; Form 4, filed by Dana Wagner on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000019/xslF345X05/wk-form4_1708466876.xml">February<U></U>&nbsp;
20, 2024</A>; Form 4, filed by Aidan Viggiano on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000021/xslF345X05/wk-form4_1708561760.xml">February<U></U>&nbsp;
21, 2024</A>; Form 4, filed by Dana Wagner on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000023/xslF345X05/wk-form4_1708561983.xml">February<U></U>&nbsp;
21, 2024</A>; Form 4, filed by Khozema Shipchandler on<A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000025/xslF345X05/wk-form4_1708645995.xml"> February<U></U>&nbsp;
22, 2024</A>; Form 4, filed by Aidan Viggiano on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000028/xslF345X05/wk-form4_1708732325.xml">February<U></U>&nbsp;
23, 2024</A>; Form 4, filed by Dana Wagner on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000030/xslF345X05/wk-form4_1708732503.xml">February<U></U>&nbsp;23, 2024</A>; Form 4, filed
</P>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
by Byron Deeter on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000095017024033498/xslF345X05/ownership.xml">March&nbsp;
19, 2024</A>; Form 4/A, filed by Miyuki Suzuki on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000036/xslF345X05/wk-form4a_1710882367.xml">March&nbsp;
19, 2024</A>; Form 4, filed by Charles Bell on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000038/xslF345X05/wk-form4_1710882698.xml">March&nbsp;
19, 2024</A>; Form 4, filed by Donna Dubinsky on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000040/xslF345X05/wk-form4_1710882934.xml">March&nbsp;
19, 2024</A>; Form 4, filed by Jeff Epstein on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000042/xslF345X05/wk-form4_1710883157.xml">March&nbsp;
19, 2024</A>; Form 4, filed by Jeffrey Immelt on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000044/xslF345X05/wk-form4_1710883386.xml">March&nbsp;
19, 2024</A>; Form 4, filed by Deval Patrick on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000046/xslF345X05/wk-form4_1710883661.xml">March&nbsp;
19, 2024</A>; Form 4, filed by Erika Rottenberg on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000048/xslF345X05/wk-form4_1710883900.xml">March&nbsp;
19, 2024</A>; Form 4, filed by Miyuki Suzuki on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000050/xslF345X05/wk-form4_1710885209.xml">March&nbsp;
19, 2024</A>; Form 3, filed by Andrew Stafman on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000110465924042771/xslF345X02/tm2410719-1_3seq1.xml">April&nbsp;
2, 2024</A>; Form 4, filed by Andrew Stafman on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000110465924042773/xslF345X05/tm2410719-2_4seq1.xml">April&nbsp;
2, 2024</A>; Form 4, filed by Khozema Shipchandler on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000052/xslF345X05/wk-form4_1712184281.xml">April&nbsp;
3, 2024</A>; and Form 4, filed by Aidan Viggiano on <A HREF="http://www.sec.gov/Archives/edgar/data/1447669/000144766924000054/xslF345X05/wk-form4_1712184421.xml">April&nbsp;3, 2024</A>. Additional information can also be found in Twilio&#146;s
Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the year ended December&nbsp;
31, 2023, filed with the SEC on <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001447669/000144766924000034/twlo-20231231.htm">February&nbsp;27, 2024</A>. Details concerning potential participants in the
solicitation, including Twilio&#146;s director nominees for election at the 2024 Annual Meeting, will also be included in the Proxy Statement in the sections captioned &#147;Security Ownership of Certain Beneficial Owners and Management,&#148; <FONT
STYLE="white-space:nowrap">&#147;Non-Employee</FONT> Director Compensation&#148; and &#147;Executive Compensation.&#148; BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SHAREHOLDERS OF TWILIO ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR
FURNISHED TO THE SEC, INCLUDING TWILIO&#146;S DEFINITIVE PROXY STATEMENT AND ANY AMENDMENTS AND SUPPLEMENTS THERETO BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. These documents, including the definitive Proxy Statement (and any amendments or
supplements thereto) and other documents filed by Twilio with the SEC, are available for no charge at the SEC&#146;s website at <U>http://www.sec.gov</U> and at the company&#146;s investor relations website at
<U>https://investors.twilio.com/overview/default.aspx</U>. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Contacts </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Investor Contact: </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Bryan Vaniman </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">ir@Twilio.com </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Media Contact: </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Caitlin Epstein </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">press@Twilio.com </P>
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