<SEC-DOCUMENT>0001104659-26-063022.txt : 20260518
<SEC-HEADER>0001104659-26-063022.hdr.sgml : 20260518
<ACCEPTANCE-DATETIME>20260518080902
ACCESSION NUMBER:		0001104659-26-063022
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20260518
DATE AS OF CHANGE:		20260518

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LiveRamp Holdings, Inc.
		CENTRAL INDEX KEY:			0000733269
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		ORGANIZATION NAME:           	06 Technology
		EIN:				710581897
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38669
		FILM NUMBER:		26990850

	BUSINESS ADDRESS:	
		STREET 1:		225 BUSH STREET
		STREET 2:		17TH FLOOR
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94104
		BUSINESS PHONE:		866-352-3267

	MAIL ADDRESS:	
		STREET 1:		225 BUSH STREET
		STREET 2:		17TH FLOOR
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94104

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Acxiom Holdings, Inc.
		DATE OF NAME CHANGE:	20180920

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ACXIOM CORP
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CCX NETWORK INC
		DATE OF NAME CHANGE:	19880816
</SEC-HEADER>
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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Proxy Statement Pursuant to Section 14(a) of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">the Securities Exchange Act of 1934 (Amendment
No. )</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed by the Registrant </FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed by a Party other than the Registrant
    </FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check the appropriate box:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 54px"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preliminary Proxy Statement</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Confidential, for Use of the Commission Only (as
    permitted by Rule 14a-6(e)(2))</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive Proxy Statement</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive Additional Materials</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting Material under &sect;240.14a-12</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B>LIVERAMP
HOLDINGS, INC.</B></FONT></P>

<P STYLE="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name
of Registrant as Specified In Its Charter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">(Name of Person(s) Filing
Proxy Statement, if other than the Registrant)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Payment of Filing Fee (Check the appropriate box):</P>

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

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    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No
    fee required.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee
    paid previously with preliminary materials.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 5%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee computed
    on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.</FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>The following contains an email sent by Scott Howe, Chief Executive
Officer of Registrant, to employees of Registrant on May 17, 2026.</I></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="text-align: justify; border-bottom: black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Employee Email </B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Subject:</B> Breaking News: LiveRamp&rsquo;s Next Chapter</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">LiveRampers,</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Moments ago, we announced that LiveRamp has entered into a definitive
agreement to be acquired by Publicis, a global leader in communications, for $38.50 per share in cash. You can read the press release
<U>here</U>. I also hope you&rsquo;ll join our Town Hall on May 18 at 10:00 a.m. PT / 1:00 p.m. ET, where we&rsquo;ll share more and
answer your questions.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This is a significant moment for LiveRamp. It reflects the strength
of our business, the importance of our mission and above all, the hard work and dedication of this team. I want to share why we are excited
about this next chapter, and why we believe this is the right path forward for our company, our customers, and our people.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have long respected Publicis as a leader in the industry as well
as a valued partner of LiveRamp. Today&rsquo;s announcement is a natural next step in that relationship. Publicis has a strong track
record of investing in businesses with significant potential, and we&rsquo;re confident that they&rsquo;re the right strategic partner
to help us expand our global presence, accelerate our next phase of growth, and bring our technology to more customers and partners around
the world.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Together, LiveRamp and Publicis have an exciting opportunity as AI
reshapes how companies use data to create value. It is becoming increasingly clear that better outcomes will require better data &mdash;
data that is connected, trustworthy, and interoperable to use across partners and platforms. As AI evolves toward more agentic applications,
we&rsquo;re confident that LiveRamp and Publicis will help enable customers to unlock even greater value through data co-creation and
accelerate their business transformations.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I also want to be clear: this transaction is about a change of ownership,
not a change in strategy. Our customer-first approach and the values that have guided our success remain as important as ever.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">While we are excited about the future, today is only the first step
in the process. Here is what you can expect moving forward:</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify">We
                                            expect the transaction to close before year-end 2026, subject to regulatory approvals, approval
                                            by LiveRamp's shareholders and other closing conditions.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify">Following
                                            close, LiveRamp will operate as an independent business within Publicis, and I will continue
                                            to lead LiveRamp as its CEO.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify">Until
                                            the transaction closes, LiveRamp and Publicis will remain separate companies. The most important
                                            thing we can all do is stay focused on our day-to-day responsibilities and continue delivering
                                            for our customers and partners.</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I know you may have questions. We have attached an <U>FAQ</U> to help
address some of them ahead of the Town Hall. We&rsquo;ve also included a <U>link to a video</U> from CEO of Publicis, Arthur Sadoun.
We&rsquo;ll continue to communicate openly as we move through this process.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>As a reminder, as a public company, there are strict SEC rules
that govern what and how we are able to share information on social media about this transaction. </B>While you can share and &ldquo;like&rdquo;
posts that are sponsored by LiveRamp and the leadership team, please refrain from creating new content or posting personal commentary,
speculation or opinions about the transaction so that we can all comply with SEC rules.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Finally, thank you. Thank you for everything you&rsquo;ve done to
build this company into the essential data collaboration network, trusted by brands, publishers, and platforms to deliver exceptional
experiences and drive measurable performance everywhere it matters. I&rsquo;m proud of what we&rsquo;ve accomplished together, and excited
about what&rsquo;s ahead.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Onward,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Scott</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>Forward-Looking
Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This communication contains forward-looking statements
within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, concerning Publicis, LiveRamp, the proposed transaction and other matters. Forward-looking
statements contained herein could include, among other things, statements regarding the anticipated timing of the consummation of the
proposed transaction; statements about management&rsquo;s confidence in and strategies for performance of the combined businesses; expectations
for new and existing products, technologies and opportunities; and expectations regarding growth, sales, cash flows, and earnings. Forward-looking
statements can be identified by the use of such terms as &ldquo;may,&rdquo; &ldquo;could,&rdquo; &ldquo;expect,&rdquo; &ldquo;anticipate,&rdquo;
&ldquo;intend,&rdquo; &ldquo;believe,&rdquo; &ldquo;likely,&rdquo; &ldquo;estimate,&rdquo; &ldquo;outlook,&rdquo; &ldquo;plan,&rdquo;
&ldquo;contemplate,&rdquo; &ldquo;project,&rdquo; &ldquo;target&rdquo; or other comparable terms. These forward-looking statements are
not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number
of risks and uncertainties, many of which are outside the parties&rsquo; control. Many factors could cause actual future events to differ
materially from the forward-looking statements in this communication including, but not limited to: (1) failure of the closing conditions
in the merger agreement to be satisfied, or any unexpected delay in closing the proposed transaction or the occurrence of any event,
change, or other circumstance that could give rise to the right of one or multiple of the parties to terminate the definitive agreement
between Publicis and LiveRamp; (2) the possibility that the transaction does not close when expected or at all because required regulatory,
shareholder, or other approvals are not received or satisfied on a timely basis or at all; (3) the possibility that the transaction may
be more expensive to complete than anticipated, including as a result of unexpected factors or events, including those resulting from
the announcement, pendency or completion of the transaction; (4) risks that the new businesses will not be integrated successfully or
that the combined companies will not realize estimated cost savings, value of certain tax assets, synergies and growth or that such benefits
may take longer to realize than expected; (5) failure to realize anticipated benefits of the combined operations; (6) risks relating
to unanticipated costs of integration; (7) ability to hire and retain key personnel; (8) ability to successfully integrate the companies&rsquo;
businesses; (9) the potential impact of announcement or consummation of the proposed transactions on relationships with third parties,
including clients, employees and competitors, including reputational risk; (10) ability to attract new clients and retain existing clients
in the manner anticipated; (11) reliance on and integration of information technology systems; (12) suffering reduced profits or losses
as a result of intense competition; or (13) potential litigation that may be instituted against LiveRamp or its directors or officers
related to the proposed transaction or the merger agreement. The foregoing list of factors is not exhaustive. You should carefully consider
the foregoing factors and the other risks and uncertainties that affect the parties&rsquo; businesses, including those described in LiveRamp&rsquo;s
Annual Report on Form 10-K for the year ended March
31, 2025, in Part I &ldquo;Cautionary Statements Relevant to Forward-Looking Information&rdquo; and Part I, Item 1A, &ldquo;Risk
Factors,&rdquo; as updated by subsequent Quarterly Reports on Form 10-Q, which are filed with the Securities and Exchange Commission
(the &ldquo;SEC&rdquo;) and those described in documents Publicis has filed with the Autorit&eacute; des March&eacute;s Financiers (the
French securities regulator). The parties do not undertake, nor do they have, any obligation to provide updates or to revise any forward-looking
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NO OFFER OR SOLICITATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This communication does not constitute an offer
to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale
of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as amended, and applicable regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ADDITIONAL INFORMATION AND WHERE TO FIND IT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the proposed transaction,
LiveRamp Holdings, Inc. will be filing documents with the SEC, including preliminary and definitive proxy statements relating to the
proposed transaction (the &ldquo;proxy statement&rdquo;). The definitive proxy statement will be mailed to LiveRamp&rsquo;s shareholders
in connection with the proposed transaction. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE
PRELIMINARY AND DEFINITIVE PROXY STATEMENTS AND ANY OTHER DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION
OR INCORPORATED BY REFERENCE IN THE PROXY STATEMENT WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT
THE PROPOSED TRANSACTION. Any vote in respect of resolutions to be proposed at LiveRamp&rsquo;s shareholder meeting to approve the proposed
transaction should be made only on the basis of the information contained in LiveRamp&rsquo;s proxy statement and documents incorporated
by reference therein. Investors and security holders may obtain free copies of these documents (when they are available) and other related
documents filed with the SEC at the SEC&rsquo;s website at www.sec.gov or on LiveRamp&rsquo;s website at www.liveramp.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>PARTICIPANTS IN THE SOLICITATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Publicis, LiveRamp and their respective directors
and certain of their respective executive officers may be deemed to be participants in the solicitation of proxies from the shareholders
of LiveRamp in respect of the proposed transactions contemplated by the proxy statement. Information regarding the persons who are, under
the rules of the SEC, participants in the solicitation of the shareholders of LiveRamp in connection with the proposed transaction, including
a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the proxy statement when
it is filed with the SEC. Information about the directors and executive officers of LiveRamp and their ownership of shares of LiveRamp
common stock and other securities of LiveRamp can be found in the sections entitled &ldquo;Nominees and Continuing Directors,&rdquo;
&ldquo;Stock Ownership,&rdquo; &ldquo;Compensation Discussion and Analysis,&rdquo; &ldquo;Compensation Tables,&rdquo; and &ldquo;Non-Employee
Director Compensation&rdquo; included in LiveRamp&rsquo;s proxy statement in connection with its 2025 Annual Meeting of Shareholders,
filed with the SEC on June
27, 2025; in the Form 3 and Form 4 initial statements of beneficial ownership and statements of changes in beneficial ownership filed
with the SEC by LiveRamp&rsquo;s directors and executive officers; and in other documents subsequently filed by LiveRamp with the SEC,
including LiveRamp&rsquo;s proxy statement relating to the proposed transaction when it becomes available. Investors and security holders
may obtain free copies of these documents and other related documents filed with the SEC at the SEC&rsquo;s website at www.sec.gov or
on LiveRamp&rsquo;s website at www.liveramp.com.</P>

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