Press Release

ServiceSource Announces Payoff of $150 Million Convertible Senior Notes and Entry Into New $40 Million Revolving Credit Facility

DENVER--(BUSINESS WIRE)--Aug. 1, 2018-- ServicceSource (NASDAQ: SREV), a global leader in outsourced inside sales, customer success and recurring revenue growth and retention solutions, today announced the full payoff of its $150 million convertible senior notes maturing August 1, 2018. The payoff included principal, all interest and other payments due thereon, and was fully settled using available cash on-hand.

The company also announced that it entered into a new $40 million senior secured revolving credit facility with BBVA Compass. This new revolving credit facility will be available for working capital needs and other general corporate purposes.

“We are pleased to have delivered on our commitment to fully pay off our five-year convertible note obligation in cash and without dilution or impact to the company’s shareholders,” said Christopher M. Carrington, CEO of ServiceSource. “The entry into a new line of credit demonstrates the strength of our business and the quality of our assets, while providing further independent liquidity and flexibility to support the company’s strategic growth and investment objectives.”

ServiceSource will file a Current Report on Form 8-K with the Securities and Exchange Commission that contains more detailed disclosure concerning the new credit facility.

About ServiceSource

ServiceSource International, Inc. (NASDAQ:SREV) helps the world’s leading brands grow closer to their customers. As a global leader in outsourced inside sales, customer success and recurring revenue growth and retention solutions, ServiceSource expands customer lifetime value by helping companies to more efficiently and effectively find, convert, grow and retain their B2B customer relationships. Trusted by global market leaders in the cloud/XaaS, software, technology hardware, medical device & diagnostic equipment and industrial IoT sectors, ServiceSource sells, manages or renews $9 billion of revenue annually on behalf of its clients. Leveraging a robust technology suite, predictive data models and more than 3,000 revenue delivery professionals speaking 45 languages, only ServiceSource brings to market nearly 20 years of expertise and the ability to drive recurring revenue growth to more than 170 countries. To learn more, visit www.servicesource.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding our ability to execute against our market opportunity, and the growth of that opportunity. These forward-looking statements are based on our current assumptions and beliefs, and involve risks and uncertainties that could cause our results to differ materially from our forward-looking statements. Those risks and uncertainties include: that the market for our solution is underdeveloped and may not grow; changes in market conditions that impact our ability to sell our solutions and/or generate service revenue on our customers' behalf; the possibility that our estimates of service revenue opportunity under management and other metrics may prove inaccurate; our ability to adapt our solution to changes in the market or new competition; our ability to achieve our expected benefits from international expansion; general political, economic and market conditions and events; and other risks and uncertainties described more fully in our periodic reports and registration statements filed with the Securities and Exchange Commission, which can be obtained online at the Commission's website at http://www.sec.gov. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements.

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http://www.youtube.com/user/ServiceSourceMKTG

Trademarks

ServiceSource®, and any ServiceSource product or service names or logos above are trademarks of ServiceSource International, Inc. All other trademarks used herein belong to their respective owners.

Source: ServiceSource

Investor Relations Contact for ServiceSource
Chad Lyne, 720-889-8784
clyne@servicesource.com