iLearningEngines, Inc. and Arrowroot Acquisition Corp. Announce Effectiveness of Registration Statement and February 12, 2024 Special Meeting to Approve Business Combination

Arrowroot Acquisition Corp. (NASDAQ:ARRW), a publicly traded special purpose acquisition company (“Arrowroot”) sponsored by affiliates of Arrowroot Capital Management, a 10 year old private equity firm specializing in enterprise software, and iLearningEngines, Inc. (“iLearningEngines” or “the Company”), a leader in AI-powered learning automation and information intelligence for corporate and educational use, today announced that on February 2, 2024 the U.S. Securities and Exchange Commission (the “SEC”), declared effective the registration statement on Form S-4 (the “Registration Statement”) filed by Arrowroot in connection with the previously announced proposed business combination (the “Business Combination”) between Arrowroot and iLearningEngines. The filing can be viewed in its entirety on the SEC’s website at www.sec.gov.

Arrowroot also commenced mailing the definitive proxy statement/prospectus on or about February 2, 2024, which was included in the Registration Statement, relating to the special meeting of stockholders to be held in connection with the Business Combination (the “Special Meeting”). The Special Meeting is scheduled to be held on February 12, 2024 at 9 a.m. Eastern Time. The Special Meeting will be held exclusively over the Internet by means of a live video webcast, which can be accessed by visiting https://www.virtualshareholdermeeting.com/ARRW2024SM. Holders of Arrowroot’s common stock at the close of business on the record date of January 18, 2024 are entitled to notice of the Special Meeting and to vote at the Special Meeting. More details about the Business Combination and the resolutions to be voted upon at the Special Meeting can be found in the definitive proxy statement/prospectus filed by Arrowroot, available at: http://www.sec.gov.

Assuming satisfaction of the conditions of the closing of the Business Combination, including approval of the Business Combination by Arrowroot stockholders, the combined company intends to operate as iLearningEngines, Inc. and is expected to be listed on Nasdaq Global Market under the ticker symbol “AILE”, with warrants under the ticker “AILEW”. The Nasdaq listing is subject to the closing of the Business Combination and fulfillment of all Nasdaq listing requirements.

About iLearningEngines

iLearningEngines is a leading cloud-based, AI driven mission critical training for enterprises. iLearningEngines has consistently ranked as one of the fastest growing companies in North America on the Deloitte Technology Fast 500. iLearningEngines’ AI and Learning Automation platform is used by enterprises to productize their enterprise knowledge for consumption throughout the enterprise. The intense demand for scalable outcome-based training has led to deployments in some of the most regulated and detail-oriented vertical markets, including Healthcare, Education, Insurance, Retail, Oil & Gas / Energy, Manufacturing and Government. iLearningEngines was founded by Harish Chidambaran in 2010, with headquarters in Bethesda, MD and offices in Dubai, UAE and Trivandrum, Pune and Kochi, India.