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Medallia Announces Pricing of Initial Public Offering

SAN FRANCISCO, July 18, 2019 /PRNewswire/ -- Medallia, Inc. (NYSE: MDLA) today announced the pricing of its initial public offering of 15,500,000 shares of its common stock at a price to the public of $21.00 per share. Medallia is offering 14,325,000 shares and the selling stockholders are offering 1,175,000 shares. Medallia will not receive any proceeds from the sale of shares by the selling stockholders.

The shares are expected to begin trading on the New York Stock Exchange on July 19, 2019, under the ticker symbol "MDLA". The offering is expected to close on July 23, 2019, subject to customary closing conditions.

In addition, the underwriters have been granted a 30-day option to purchase up to an additional 1,735,000 shares of common stock from Medallia and up to an additional 590,000 shares of common stock from the selling stockholders at the initial public offering price, less underwriting discounts and commissions.

BofA Merrill Lynch, Citigroup and Wells Fargo Securities are acting as lead book-running managers for the offering. Credit Suisse is also acting as a book-running manager. Oppenheimer & Co., SunTrust Robinson Humphrey, William Blair, Needham & Company, Craig-Hallum Capital Group and Roth Capital Partners are acting as co-managers.

The offering is being made only by means of a prospectus. Copies of the final prospectus related to the offering, when available, may be obtained from: BofA Securities, Inc., 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or by email at dg.prospectus_requests@baml.com; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by phone at (800) 831-9146; or Wells Fargo Securities, LLC, 375 Park Avenue, New York, NY 10152, Attn: Equity Syndicate Department, by phone at (800) 326-5897, or by email at cmclientsupport@wellsfargo.com.

Registration statements relating to these securities have been filed with, and declared effective by, the U.S. Securities and Exchange Commission ("SEC"). Copies of the registration statements can be accessed through the SEC's website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Medallia

Medallia is the pioneer and market leader in Experience Management. Medallia's award-winning SaaS platform, the Medallia Experience Cloud, leads the market in the understanding and management of experience for customers, employees and citizens. Medallia captures experience signals created on daily journeys in person, digital and IoT interactions and applies proprietary AI technology to reveal personalized and predictive insights that can drive action with tremendous business results. Using Medallia Experience Cloud, customers can reduce churn, turn detractors into promoters and buyers, and create in-the-moment cross-sell and up-sell opportunities, providing clear and potent returns on investment.

IR Contact:

Carolyn Bass
IR@medallia.com

Cision

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