Zoom ECONOMIC

Supply Chain & Sourcing Relationships

• Zoom’s reviewed disclosures concern cloud subscriptions, channel partners, and strategic investments rather than procurement of physical goods ¹.

• No public evidence identified of Zoom purchasing Israeli agricultural, manufactured, or other physical goods; using an Israeli importer of record; conducting seasonal procurement; or sourcing Israeli-origin white-label products.

• A Zoom certification dated 11 June 2020 identified Naotech Communication Group of Tel Aviv as a fully authorised reseller in Zoom’s Channel Partner Program ².

• The certification stated that Naotech and its subsidiaries could sell, configure, and install Zoom services, and that Naotech was Zoom’s only authorised reseller in Israel at that time ².

• The certification documents a channel intermediary as of June 2020 only and does not establish Naotech’s continuing authorisation or any downstream customer relationships ².

• No target-specific Israeli Ministry of Defense, IDF, settlement-entity, or occupied-territory service contract was identified in the bounded research, and the search-scoped result should not be treated as proof that none exists ^{1, 2}.

Product Origin, Labeling & Regulatory Compliance

• Zoom is a cloud communications company whose reviewed annual-report disclosures do not describe settlement-origin goods, physical-product origin labeling, customs enforcement, or DEFRA-related compliance matters ¹.

• No public evidence identified of a Zoom corporate policy specifically governing goods from occupied territories, settlement-origin product labeling, or customs action related to such goods.

• Zoom’s FY2026 Form 10-K states that it operated 20 co-located data centres globally as of 31 January 2026, without identifying their countries or locations ³.

• Neither the FY2025 nor FY2026 Form 10-K contains a text match for “Israel,” which is document-scoped and does not establish the absence of Israeli customers, infrastructure, personnel, registrations, or operations ^{1, 3}.

Investment, Capital & Financial Exposure

• On 14 June 2021, Zoom Video Communications purchased 483,871 ordinary shares in monday.com Ltd. at the IPO price of $155 per share, an announced cash purchase of approximately $75 million ⁴.

• A contemporaneous monday.com investor-rights agreement identifies monday.com Ltd. as an Israeli company and includes Zoom as an investor signatory ⁵.

• The available evidence supports characterising the monday.com position as an equity investment rather than an acquisition or controlling operating stake ^{4, 5}.

• Zoom announced a $100 million Zoom Apps Fund in April 2021, with stated initial investments of $250,000 to $2.5 million in developer-platform portfolio companies ⁶.

• Zoom’s FY2025 Form 10-K reports investments in publicly and privately held securities but does not identify Israel, monday.com, Israeli sovereign debt, Israel Bonds, settlement-active companies, or Israeli defence companies by name ¹.

• The filing describes Zoom’s marketable-securities categories as high-grade commercial paper, agency bonds, corporate and other debt securities, U.S. government agency securities, and Treasury bills ¹.

• No public evidence identified of Zoom underwriting or selling Israeli sovereign debt or Israel Bonds, extending lending or trade finance to Israeli defence primes or OHCHR-listed companies, or insuring Israeli state, military, or settlement activity.

Operational Presence & Market Activity

• Zoom’s FY2024 filing grouped customers in “Israel and the surrounding area” with customers affected by the Russia–Ukraine conflict, stating that customers in those regions collectively represented approximately 1% of Zoom’s net assets and total consolidated revenue for FY2024 ⁷.

• The FY2024 disclosure does not provide an Israel-only revenue, asset, customer, or market-share figure ⁷.

• Zoom’s FY2025 filing identifies principal operating-expense jurisdictions as Australia, China, Europe, and the United States, while containing no “Israel” text match ¹.

• No public evidence identified of a Zoom-operated Israeli office, support centre, warehouse, data centre, disclosed workforce size, Israeli tax or permanent-establishment status, or Israeli market-positioning statement.

• The Naotech reseller certification supports historical Israeli channel activity but does not establish that Zoom itself operated an Israeli office or directly served any particular Israeli public or private customer ².

Corporate Structure & Foundational Ties

• Zoom Communications, Inc. is a Delaware corporation with principal executive offices at 55 Almaden Boulevard, 6th Floor, San Jose, California ³.

• The company states that it was incorporated in Delaware in April 2011 as Saasbee, Inc., subsequently renamed Zoom Communications, Inc., then Zoom Video Communications, Inc., and renamed Zoom Communications, Inc. again in November 2024 ³.

• The February 2025 SEC filing header identifies Zoom Video Communications, Inc. as the former conformed name of the registrant and records CIK 0001585521 ⁸.

• Zoom’s FY2026 consolidated financial statements include Zoom Communications, Inc., its subsidiaries, and a variable-interest entity for which it is the primary beneficiary, with intercompany balances and transactions eliminated in consolidation ³.

• The FY2026 filing presents Zoom Communications, Inc. as the top-level reporting company and does not identify a corporate parent or private-equity sponsor ³.

• SEC-indexed subsidiary material identifies Zoom Video Communications (Suzhou) Inc. as a listed subsidiary, but the reviewed material was insufficient to enumerate a complete current subsidiary schedule reliably ⁹.

• No public evidence identified in the reviewed SEC and investor-relations materials of an Israeli-incorporated Zoom subsidiary, acquired Israeli operating company, controlling stake in an Israeli operating company, Israeli state ownership, or structural governance mechanism tying Zoom to the Israeli state.

• Eric S. Yuan is Zoom’s founder, President, Chief Executive Officer, and director, and the 2025 proxy states that he has served as Chair, President, and CEO since June 2011 ^{3, 10}.

• As of 31 March 2025, the proxy reported that Yuan beneficially held 51.1% of outstanding Class B shares and 31.6% of combined Class A and Class B voting power ¹⁰.

• The current corporate-governance page lists Jonathan Chadwick, Jeff Epstein, Mike Fenger, Cindy Hoots, H.R. McMaster, Dan Scheinman, Santiago Subotovsky, and Eric S. Yuan as directors ¹¹.

• No public evidence identified in the examined corporate and SEC materials of Israeli citizenship, Israeli family-office vehicles, Israeli state positions, settlement-organisation roles, or Israeli defence-industry affiliations for Zoom’s named controlling persons.

Profit Repatriation & Economic Contribution

• Zoom’s reviewed filings do not disclose Israel-only revenue, profits, taxes, employment, capital expenditure, or profit-repatriation flows ^{1, 7}.

• The FY2024 combined regional figure of approximately 1% cannot be allocated to Israel alone ⁷.

• No public evidence identified of a published industry or government assessment characterising Zoom as a key Israeli employer, sector anchor, critical-infrastructure provider, or dominant Israeli-market participant.

• Zoom’s fourth-quarter 2025 U.S. lobbying disclosure lists issues concerning video-communications privacy, encryption and law-enforcement access, CSAM, productivity services, Section 230, AI regulation, antitrust, and competition ¹².

• That filing lists the Senate, House, and Executive Office of the President as contacted institutions, marks foreign-entity interest as none, and does not identify Israel, Palestine, settlements, Israeli government policy, or U.S. policy toward Israel among disclosed issues ¹².

• The supplied source review found no listing of Zoom in the 2025 OHCHR settlement-business database or mention of Zoom in the UN Special Rapporteur’s 2025 report, findings that are limited to those documents and do not establish the absence of all settlement-related activity ^{13, 14}.