Opinion Excerpt

IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE IN RE ASPEN TECHNOLOGY, INC., ) C.A. No. 2025-0210-SEM (MTZ) SECTION 220 LITIGATION ) ORDER REGARDING EXCEPTIONS WHEREAS:1 A. Plaintiff Kevin Barnes served a demand under 8 Del. C. § 220 on defendant Aspen Technology, Inc. (“Aspen” or the “Defendant”) on February 13, 2025.2 Plaintiff Elliott Associates, L.P. (“Elliott,” an