CPP Investments holds 9.5% of Netskope (NTSK) on a converted basis

Rhea-AI Filing Summary

Netskope Inc disclosure: Canada Pension Plan Investment Board beneficially owns 8,960,263 shares of Class B common stock, each convertible into one Class A share, representing 9.5% of Class A on a fully converted basis. Shares outstanding were 85,188,411 Class A common shares as of December 4, 2025, used to calculate the percentage.

The filing states the Item 11 calculation is based on the issuer's Form 10-Q filed December 11, 2025 plus the assumed conversion of the reported Class B shares. The report is signed by a Managing Director of the reporting entity on 03/18/2026.

Insights

Corporate Governance Analyst

Large institutional stake disclosed; governance influence likely.

The filing shows Canada Pension Plan Investment Board holds 8,960,263 Class B shares convertible into Class A, equal to 9.5% on a converted basis using December 4, 2025 outstanding figures. This scale typically confers meaningful voting leverage if conversion or voting alignment occurs.

Dependencies include whether the holder converts shares and how voting rights attach prior to conversion. Subsequent filings or proxy materials may clarify any governance arrangements or nominee seats; timing and specific governance actions are not disclosed here.

Institutional Ownership Specialist

Disclosure clarifies ownership stake and calculation basis for percent ownership.

The statement ties the 9.5% figure to two items: the issuer's reported 85,188,411 Class A shares outstanding as of December 4, 2025 and assumed conversion of the 8,960,263 Class B shares. The filing documents beneficial ownership and voting/dispositive powers held by the reporting entity.

Cash‑flow treatment and trading intent are not included; future Schedule 13D/13G amendments would show changes in intent or additional acquisitions. Watch for any amended filings that change the ownership percentage or disclose conversion/voting arrangements.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Netskope Inc

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

64119N608

(CUSIP Number)

09/17/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 64119N608

1

Names of Reporting Persons

Canada Pension Plan Investment Board

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 8,960,263.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 8,960,263.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,960,263.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.5 %

12

Type of Reporting Person (See Instructions)

FI

Comment for Type of Reporting Person: The securities reported in items 5, 7 and 9 consist of 8,960,263 shares of class B common stock of the issuer. Each Class B-1 Share is convertible into one Class A Share at the option of the holder. Item 11 is calculated based on (x) a total of 85,188,411 shares of class A common stock of the issuer outstanding as of December 4, 2025, as disclosed in the issuer's Form 10-Q filed with the Securities and Exchange Commission on December 11, 2025 plus (y) 8,960,263 shares of class A common stock of the issuer assuming conversion of the 8,960,263 shares of class B common stock of the issuer held by the reporting person.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Netskope Inc
(b)	Address of issuer's principal executive offices: 2445 Augustine Drive, Suite 301 Santa Clara, California 95054
Item 2.
(a)	Name of person filing: Canada Pension Plan Investment Board
(b)	Address or principal business office or, if none, residence: One Queen Street East, Suite 2500, Toronto, Ontario, M5C 2W5 Canada
(c)	Citizenship: Canada
(d)	Title of class of securities: Class A Common Stock
(e)	CUSIP Number(s): 64119N608
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See Item 9 on page 2.
(b)	Percent of class: See Item 11 on page 2.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 on page 2.
	(ii) Shared power to vote or to direct the vote: See Item 6 on page 2.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 on page 2.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 on page 2.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Canada Pension Plan Investment Board

Signature:	/s/ Pierre Abinakle
Name/Title:	Managing Director, Head of Compliance
Date:	03/18/2026

Comments accompanying signature: Comments accompanying signature: Exhibit 99.1 Power of Attorney of Canada Pension Plan Investment Board