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), today announced a strategic restructuring plan aimed at accelerating its shift to the cloud and transitioning fully to a subscription-based business model. This initiative reflects the company's commitment to streamlining operations, reducing costs, and reallocating resources to align more effectively with its long-term goals. According to Carl Bass, President and CEO of Autodesk, “As we continue our journey through this business transformation, we’re taking a thorough look at every aspect of our operations to ensure we're operating as efficiently and effectively as possible. By focusing our efforts on key areas that will drive our move to the cloud and subscription-based services, we aim to deliver maximum value to both our customers and shareholders.” Autodesk intends to reduce its workforce by approximately 10%, or around 925 positions, along with consolidating some leased office spaces. These changes are projected to generate substantial cost savings starting in fiscal 2017, with a portion of those savings being reinvested into critical areas tied to the company's evolving platform and business model. The company anticipates pre-tax charges between $85 million and $95 million due to the restructuring. Despite these changes, Autodesk remains optimistic about its financial performance. The company expects to meet or even exceed its guidance ranges for billings, revenue, non-GAAP EPS, and net subscription additions in the fourth quarter of fiscal 2016. Bass added, “This restructuring is not a response to any economic downturn. We finished fiscal 2016 on a strong note, with impressive fourth-quarter billings growth and sustained customer interest in our subscription offerings. Our solid revenue performance, combined with careful expense management, contributed to better-than-expected non-GAAP EPS this quarter. I’m proud of what we’ve achieved during such a pivotal time in Autodesk’s history.” Further details about the company’s financial results and the restructuring plan will be shared during Autodesk’s regularly scheduled earnings call on February 25, 2016. **Earnings Conference Call and Webcast** Autodesk will hold its fourth-quarter earnings conference call on February 25th at 5:00 p.m. ET. The live webcast can be accessed at http://www.autodesk.com/investors. Supplementary financial data and prepared remarks will be available on Autodesk’s investor relations page alongside this press release. A replay of the webcast will be accessible at 7:00 p.m. ET on the same day at http://www.autodesk.com/investors. This recording will remain available on the company’s website for at least 12 months. **Safe Harbor Statement** This press release includes forward-looking statements that carry inherent risks and uncertainties. These statements include projections regarding the company’s financial performance for the fourth quarter of fiscal 2016, anticipated restructuring charges, associated cash expenditures, cost savings, future hiring, and the broader implications of the business model transition. It’s worth noting that while fourth-quarter guidance is based on a completed financial period, the company has yet to finalize its close process, meaning figures are subject to adjustment. Numerous factors could cause actual results to differ significantly from these forecasts, including but not limited to the accuracy of the company’s restructuring assumptions, the realization of expected cost savings, fluctuations in foreign currency exchange rates, and unanticipated accounting charges. For further insights into potential risk factors affecting Autodesk’s financial results, refer to the company’s Form 10-K for the year ended January 31, 2015, and Form 10-Q for the quarter ended October 31, 2015, both of which are available through the U.S. Securities and Exchange Commission. Autodesk assumes no obligation to update these forward-looking statements in light of new developments or circumstances. The company’s full guidance for the fourth quarter of 2016, along with a reconciliation of non-GAAP financial metrics, can be found in the press release accompanying the Form 8-K filing dated November 19, 2015, and on the company’s official website at: http://investors.autodesk.com/phoenix.zhtml?c=117861&p=IROL-secToc&TOC=aHR0cDovL2FwaS50ZW5rd2l6YXJkLmNvbS9vdXRsaW5lLnhtbD9pcGFnZT0xMDU4OTc4NCYmZXhwPSUyNGNpayUyODc2OTM5NyUyOSthbmQrJTI4Rm9ybSs4LUslMjkmc3Vic2lkPTU3&ListAll=1 **About Autodesk** Autodesk empowers individuals to imagine, design, and create a better world. From professionals in architecture, engineering, and construction to digital artists and students, Autodesk tools fuel innovation across industries. For more information, visit www.autodesk.com or follow @autodesk on social media. *Autodesk and the Autodesk logo are registered trademarks or trademarks of Autodesk, Inc., and/or its subsidiaries and affiliates worldwide. All other brands, product names, or trademarks belong to their respective owners. Autodesk reserves the right to modify product features, service offerings, and pricing at any time without prior notice.* *© 2016 Autodesk, Inc. All rights reserved.* **Contact Information:** Autodesk Press Contact: Noah Cole, +1-415-580-3535 noah@autodesk.com Investor Contact: David Gennarelli, +1-415-507-6033 david@autodesk.com

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