Instructure (INST) Appoints Peter Walker as CFO; Reiterates Guidance

Instructure (NYSE: INST), the leading learning platform and maker of Canvas, today announced that Peter Walker has been named the company's new chief financial officer (CFO), effective November 13, 2023. Walker will lead Instructure's finance function in support of the company's mission of elevating student success, amplifying the power of teaching, and inspiring everyone to learn together. Walker will succeed Dale Bowen, who will step down from his role as CFO on November 12, 2023, and has agreed to provide transition services through March 2, 2024.

"We're delighted to add Walker to our talented team of leaders at Instructure," said Steve Daly, CEO of Instructure. "Walker's experience both as a public company CFO, in the private equity markets, and in roles as a strategic leader will serve us well."

"We're grateful for the contributions Dale Bowen has made to our company," Daly continued. "Over the last four years, he has helped us successfully navigate important transitions, including our 2020 shift from the public markets to private equity, and our return to the public market in 2021. During his tenure, he also established a strong culture of transparency and consistency and built a solid foundation for our next leader."

Walker has more than 15 years of executive experience, including more than 10 years of experience as a CFO. Currently he is the CFO of Sterling Check Corp., a publicly traded global provider of technology-enabled background and identity services. Prior to his tenure at Sterling, Walker spent two years as Jackson Hewitt's CFO leading the company's sale to a new financial sponsor and refinancing the company's debt. Prior to Jackson Hewitt, Walker spent more than 15 years at Assurant, a publicly traded global company. He has held senior finance, strategy and risk management roles, most recently as chief strategy officer. Walker began his professional career in consulting with Ernst & Young LLP and earned a Bachelor of Science in accounting from Miami University of Ohio, a Master of Business Administration from New York University's Stern School of Business and is a certified public accountant.

"Instructure has built a great reputation for driving growth and delivering profitability and for being a mission-driven company delivering a world-class education solution for 30-million-plus users worldwide," said Walker. "I look forward to building on the legacy the company has built with its Canvas LMS and extensive learning platform."

Update on Third Quarter and Full Year 2023 Guidance

Based on information as of today, September 28, 2023, the Company is reiterating the financial guidance it provided during its second quarter earnings conference call and related press release on July 31, 2023.

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