Tufin Announces Launch of Secondary Public Offering of Ordinary Shares

Tufin Software Technologies Ltd. (NYSE: TUFN) ("Tufin”), a company pioneering a policy-centric approach to security and IT operations, today announced that it has launched a secondary public offering of 3,500,000 ordinary shares, which are being offered by certain selling shareholders pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission (the "SEC”). In connection with the offering, certain selling shareholders intend to grant the underwriters an option to purchase up to an additional 525,000 ordinary shares. Tufin will not receive any proceeds from the sale of ordinary shares.

Tufin’s ordinary shares are listed on the New York Stock Exchange under the ticker symbol "TUFN.”

J.P. Morgan Securities LLC, Barclays Capital Inc. and Jefferies LLC are acting as book-running managers in the offering and as representatives of the underwriters. Oppenheimer & Co. Inc., Robert W. Baird & Co. Incorporated, Piper Jaffray & Co., Stifel, Nicolaus & Company, Incorporated, and William Blair & Company, L.L.C. are acting as co-managers in the offering.

The offering will be made only by means of a prospectus. A preliminary prospectus for the offering may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: 1-866-803-9204; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: 1- 888-603-5847, or by email at Barclaysprospectus@broadridge.com; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, Telephone: 1-877-547-6340, or by email at Prospectus_Department@Jefferies.com.

A registration statement on Form F-1 related to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement 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 may there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Tufin

Tufin (NYSE: TUFN) simplifies management of some of the largest, most complex networks in the world, consisting of thousands of firewall and network devices and emerging hybrid cloud infrastructures. Enterprises select the company’s Tufin Orchestration Suite™ to increase agility in the face of ever-changing business demands while maintaining a robust security posture. The Tufin Orchestration Suite reduces the attack surface and meets the need for greater visibility into secure and reliable application connectivity. With over 2,000 customers since its inception, Tufin’s network security automation enables enterprises to implement changes in minutes instead of days, while improving their security posture and business agility.

Forward Looking Statements

This press release contains forward looking statements, including among other things, statements concerning the completion of the offering of ordinary shares, and other statements identified by words such as "could,” "expects,” "intends,” "may,” "plans,” "potential,” "should,” "will,” "would,” or similar expressions and the negatives of those terms. Forward-looking statements are not promises or guarantees of future performance, and are subject to a variety of risks and uncertainties, many of which are beyond our control. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, market risks and uncertainties and the satisfaction of customary closing conditions for an offering of securities. These and other risks and uncertainties are described more fully in the preliminary prospectus, and in particular in the section captioned "Risk Factors”, related to the public offering filed with the SEC. Forward-looking statements speak only as of the date hereof, and, except as required by law, Tufin undertakes no obligation to update or revise these forward-looking statements.

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