BL BLACKLINE, INC.

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in only 1/4 quarters. Q1 2026: $45M, Q3 2025: $0M, Q2 2025: $0M, Q1 2025: $0M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

New buyback activity: $45M after no prior spending

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Buyback $45M / FCF $40M = 112% of FCF

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 7,700,000 shares = 12.9% of 59,880,563 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

1 open-market purchase by HENSHALL DAVID J

• HENSHALL DAVID J () bought 10,000 shares at $48.60 on 2025-08-08

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Neither company buybacks nor insider buying are active

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $0M in the last 90 days (net buying)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

No buyback-insider divergence detected