Autodesk Announces Restructuring Plan to Accelerate Transition to Cloud and Subscription Business

**Public Company Information:** **NASDAQ:** **ADSK** **San Rafael, Calif. – (Business Wire) –** Autodesk, Inc. (Nasdaq: ADSK) has announced a strategic restructuring aimed at accelerating its shift to a cloud-based and subscription-driven business model. This move is designed to enhance operational efficiency, reduce costs, and reallocate resources toward key growth areas that will support the company’s long-term vision. Carl Bass, President and CEO of Autodesk, stated, “As we continue our transition to a more agile and scalable business model, we are proactively evaluating all aspects of our operations to ensure we’re positioned for maximum value creation for both our customers and shareholders. These changes are part of a broader effort to focus on the areas that will drive innovation and growth in the future.” The restructuring includes a reduction of approximately 10% in staffing—around 925 roles—and the consolidation of certain leased facilities. These actions are expected to deliver cost savings starting in fiscal year 2017, with a portion of those savings reinvested into critical areas such as cloud infrastructure and product development. The company anticipates pre-tax charges of $85 million to $95 million related to this initiative. Autodesk also reported strong performance in the fourth quarter of fiscal 2016, with results exceeding expectations across key metrics like billings, revenue, non-GAAP EPS, and net subscription additions. Bass emphasized that the restructuring is not a reaction to macroeconomic conditions but rather a proactive step to strengthen the company’s position as it moves forward. “We ended fiscal 2016 on a high note, driven by robust demand for our subscription offerings and disciplined cost management,” he added. “This is a pivotal moment in our transformation, and I’m proud of the progress we’ve made so far.” Further details about the financial results and restructuring plan will be discussed during Autodesk’s scheduled earnings call on February 25, 2016, at 5:00 p.m. ET. The event will be live-streamed and available for replay on Autodesk’s investor relations website. **Earnings Conference Call and Webcast** Join Autodesk’s leadership team for a live discussion on February 25th at 5:00 p.m. ET via [http://www.autodesk.com/investors](http://www.autodesk.com/investors). A replay of the call will be available from 7:00 p.m. ET onward and will remain accessible for at least one year. **Safe Harbor Statement** This press release contains forward-looking statements that involve risks and uncertainties. Actual results could differ materially due to various factors, including market conditions, execution of the restructuring plan, and other economic and business-related variables. For more information, please refer to Autodesk’s filings with the SEC, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. **About Autodesk** Autodesk empowers individuals and organizations to design, create, and innovate in a better world. From engineers and architects to artists and students, Autodesk software fuels creativity and solves complex challenges. Learn more at [autodesk.com](http://www.autodesk.com) or follow us on [Twitter](https://twitter.com/autodesk). *Autodesk and the Autodesk logo are registered trademarks or trademarks of Autodesk, Inc., and/or its subsidiaries and affiliates. All other brand names, product names, or trademarks are the property of their respective owners. Autodesk reserves the right to alter product and service offerings, specifications, and pricing without notice. It is not responsible for typographical or graphical errors that may appear in this document.* © 2016 Autodesk, Inc. All rights reserved. **Contact:** Autodesk Press Contact: Noah Cole, +1-415-580-3535 noah.cole@autodesk.com Investor Contact: David Gennarelli, +1-415-507-6033 david.gennarelli@autodesk.com

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