N-able amends stockholder agreement, updates director nomination thresholds and removes TB Co-Investors

N-able, Inc.

Director nomination thresholds for Silver Lake and Thoma Bravo now based on percentage of outstanding shares, not fixed share count from spin-off.
Silver Lake can nominate 3 directors if ownership ≥20% of outstanding shares, 2 if 10-20%, 1 if 5-10%.
Thoma Bravo gets same board seat tier: 3 if ≥20%, 2 if 10-20%, 1 if 5-10%.
TB Co-Investors removed as parties to the agreement; all rights and obligations cease.
Amendment effective December 13, 2021; approved by company and lead investors.

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