83% of Oracle Database Licensees Cite Vendor Support Costs as Excessive or Too Much; Burdensome Updates and Poor Vendor Support Among Top Challenges in Survey

▤ Summary

“We have many instances of Oracle Database and were struggling to keep up expensive and disruptive upgrade cycles – not only that, but when we peeled back the onion on our maintenance contract, we realized the available enhancements did not offer significant ROI to our business specifically and the required upgrades just to maintain support simply did not justify the high cost,” said Juan Rajani, director, IT Application Services, Rent-A-Center. The survey underscores that a large percentage of respondents (41%) have adopted the strategy to actively reduce their Oracle Database footprint over time. This suggests a trend toward maximizing the lifespan and value of currently licensed database releases, with third-party support as an enabling solution option in many cases. The Company offers premium, ultra-responsive and integrated application management and support services that enable enterprise software licensees to save significant costs, free up resources for innovation and achieve better business outcomes. These risks and uncertainties include, but are not limited to, the duration of and operational and financial impacts on our business of the COVID-19 pandemic and related economic impact, as well as the actions taken by governmental authorities, clients or others in response to the COVID-19 pandemic; catastrophic events that disrupt our business or that of our current and prospective clients, changes in the business environment in which Rimini Street operates, including inflation and interest rates, and general financial, economic, regulatory and political conditions affecting the industry in which Rimini Street operates; adverse developments in pending litigation or in the government inquiry or any new litigation; our need and ability to raise additional equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth initiatives; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the terms and impact of our outstanding 13.00% Series A Preferred Stock; changes in taxes, laws and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the customer adoption of our recently introduced products and services, including our Application Management Services (AMS), Rimini Street Advanced Database Security, and services for Salesforce Sales Cloud and Service Cloud products, in addition to other products and services we expect to introduce in the near future; the loss of one or more members of Rimini Street’s management team; uncertainty as to the long-term value of Rimini Street’s equity securities; and those discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on November 5, 2020, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission.

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