SCHEDULE 13G 0001675240 XXXXXXXX LIVE Class A Common Stock, $0.00000625 par value 12/31/2025 0001639723 NAVAN, INC. 639193101 3045 Park Boulevard Palo Alto CA 94306 Rule 13d-1(d) AH Parallel Fund V, L.P. b DE 10408860.00 0.00 10408860.00 0.00 10408860.00 4.5 PN AH Equity Partners V (Parallel), L.L.C. b DE 10408860.00 0.00 10408860.00 0.00 10408860.00 4.5 OO Andreessen Horowitz Fund V, L.P. b DE 2081772.00 0.00 2081772.00 0.00 2081772.00 0.9 PN CLF Partners, LP b DE 17001.00 0.00 17001.00 0.00 17001.00 0.0 PN AH Equity Partners V, L.L.C. b DE 2098773.00 0.00 2098773.00 0.00 2098773.00 0.9 OO Andreessen Horowitz LSV Fund I, L.P. b DE 6757090.00 0.00 6757090.00 0.00 6757090.00 2.9 PN AH Equity Partners LSV I, L.L.C. b DE 6757090.00 0.00 6757090.00 0.00 6757090.00 2.9 OO Andreessen Horowitz LSV Fund II, L.P. b DE 7323480.00 0.00 7323480.00 0.00 7323480.00 3.1 PN AH Equity Partners LSV II, L.L.C. b DE 7323480.00 0.00 7323480.00 0.00 7323480.00 3.1 OO Andreessen Horowitz LSV Fund III, L.P. b DE 607161.00 0.00 607161.00 0.00 607161.00 0.3 PN AH Equity Partners LSV III, L.L.C. b DE 607161.00 0.00 607161.00 0.00 607161.00 0.3 OO Marc L. Andreessen b X1 0.00 27195364.00 0.00 27195364.00 27195364.00 11.7 IN Benjamin A. Horowitz b X1 0.00 27195364.00 0.00 27195364.00 27195364.00 11.7 IN NAVAN, INC. 3045 Park Boulevard, Palo Alto, CA, 94306. The names of the persons filing this report (collectively, the "Reporting Persons") are: AH Parallel Fund V, L.P. ("AH Parallel V") AH Equity Partners V (Parallel), L.L.C. ("AH Equity V Parallel") Andreessen Horowitz Fund V, L.P. ("AH V") CLF Partners, LP ("CLF") AH Equity Partners V, L.L.C. ("AH EP V") Andreessen Horowitz LSV Fund I, L.P. ("AH LSV I") AH Equity Partners LSV I, L.L.C. ("AH EP LSV I") Andreessen Horowitz LSV Fund II, L.P. ("AH LSV II") AH Equity Partners LSV II, L.L.C. ("AH EP LSV II") Andreessen Horowitz LSV Fund III, L.P. ("AH LSV III") AH Equity Partners LSV III, L.L.C. ("AH EP LSV III") Marc L. Andreessen ("Andreessen") Benjamin A. Horowitz ("Horowitz") The Reporting Persons expressly disclaim status as a "group" for purposes of this Schedule 13G. The address for each of the Reporting Persons is: Andreessen Horowitz 2865 Sand Hill Road, Suite 101 Menlo Park, CA 94025 AH Parallel V Delaware AH Equity V Parallel Delaware AH V Delaware CLF Delaware AH EP V Delaware AH LSV I Delaware AH EP LSV I Delaware AH LSV II Delaware AH EP LSV II Delaware AH LSV III Delaware AH EP LSV III Delaware Andreessen United States Horowitz United States Y Row 9 of each Reporting Person's cover page to this Schedule 13G sets forth the aggregate number of shares of Class A common stock of the Issuer beneficially owned by such Reporting Person as of December 31, 2025 and is incorporated by reference. The Reporting Persons' ownership of the Issuer's securities includes (i) 10,408,860 shares of Class A common stock directly held by AH Parallel V for itself and as nominee of AH Parallel Fund V-A, L.P., AH Parallel Fund V-B, L.P., and AH Parallel Fund V-Q, L.P.; (ii) 2,081,772 shares of Class A common stock directly held by AH V for itself and as nominee of Andreessen Horowitz Fund V-A, L.P., Andreessen Horowitz Fund V-B, L.P. and Andreessen Horowitz Fund V-Q, L.P.; (iii) 17,001 shares of Class A common stock directly held by CLF; (iv) 6,757,090 shares of Class A common stock directly held by AH LSV I for itself and as nominee of Andreessen Horowitz LSV Fund I-B, L.P. and Andreessen Horowitz LSV Fund I-Q, L.P.; (v) 7,323,480 shares of Class A common stock directly held by AH LSV II for itself and as nominee of Andreessen Horowitz LSV Fund II-B, L.P. and Andreessen Horowitz LSV Fund II-Q, L.P. and (vi) 607,161 shares of Class A common stock directly held by AH LSV III for itself and as nominee of Andreessen Horowitz LSV Fund III-B, L.P., AH 2022 Annual Fund, L.P., AH 2022 Annual Fund-B, L.P. and AH 2022 Annual Fund-QC, L.P. AH Equity V Parallel is the general partner of AH Parallel V and may be deemed to have sole power to vote and sole power to dispose of shares of the Issuer held of record by AH Parallel V for itself and as nominee of AH Parallel Fund V-A, L.P., AH Parallel Fund V-B, L.P., and AH Parallel Fund V-Q, L.P. Andreessen and Horowitz are managing members of AH Equity V Parallel and may be deemed to have shared voting and shared dispositive power over the shares held of record by AH Parallel V for itself and as nominee. AH EP V is the general partner of AH V and CLF and may be deemed to have sole power to vote and sole power to dispose of the shares of the Issuer held of record by AH V for itself and as nominee of Andreessen Horowitz Fund V-A, L.P., Andreessen Horowitz Fund V-B, L.P. and Andreessen Horowitz Fund V-Q, L.P. and by CLF. Andreessen and Horowitz are managing members of AH EP V and may be deemed to have shared voting and shared dispositive power over the shares held of record by AH V for itself and as nominee and by CLF. AH EP LSV I is the general partner of AH LSV I and may be deemed to have sole power to vote and sole power to dispose of the shares of the Issuer held of record by AH LSV I for itself and as nominee of Andreessen Horowitz LSV Fund I-B, L.P. and Andreessen Horowitz LSV Fund I-Q, L.P. Andreessen and Horowitz are managing members of AH EP LSV I and may be deemed to have shared voting and shared dispositive power over the shares held of record by AH LSV I for itself and as nominee. AH EP LSV II is the general partner of AH LSV II and may be deemed to have sole power to vote and sole power to dispose of the shares of the Issuer held of record by AH LSV II for itself and as nominee of Andreessen Horowitz LSV Fund II-B, L.P. and Andreessen Horowitz LSV Fund II-Q, L.P. Andreessen and Horowitz are managing members of AH EP LSV II and may be deemed to have shared voting and shared dispositive power over the shares held of record by AH LSV II for itself and as nominee. AH EP LSV III is the general partner of AH LSV III and may be deemed to have sole power to vote and sole power to dispose of the shares of the Issuer held of record by AH LSV III for itself and as nominee of Andreessen Horowitz LSV Fund III-B, L.P., AH 2022 Annual Fund, L.P., AH 2022 Annual Fund-B, L.P. and AH 2022 Annual Fund-QC, L.P. Andreessen and Horowitz are managing members of AH EP LSV III and may be deemed to have shared voting and shared dispositive power over the shares held of record by AH LSV III for itself and as nominee. Row 11 of each Reporting Person's cover page to this Schedule 13G sets forth the percentages of the shares of Class A common stock of the Issuer beneficially owned by such Reporting Person as of December 31, 2025 and is incorporated by reference. The percentage set forth in each row 11 is based upon 233,339,369 shares of Class A common stock outstanding as of December 8, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on December 15, 2025. Row 5 of each Reporting Person's cover page to this Schedule 13G sets forth the sole power to vote or to direct the vote of the shares of Class A common stock of the Issuer beneficially owned by such Reporting Person as of December 31, 2025 and is incorporated by reference. Row 6 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to vote or to direct the vote of the shares of Class A common stock of the Issuer beneficially owned by such Reporting Person as of December 31, 2025 and is incorporated by reference. Row 7 of each Reporting Person's cover page to this Schedule 13G sets forth the sole power to dispose or to direct the disposition of the shares of Class A common stock of the Issuer beneficially owned by such Reporting Person as of December 31, 2025 and is incorporated by reference. Row 8 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to dispose or to direct the disposition of the shares of Class A common stock of the Issuer beneficially owned by such Reporting Person as of December 31, 2025 and is incorporated by reference. Y N Under certain circumstances set forth in the limited partnership agreements of each of AH Parallel V, AH V, CLF, AH LSV I, AH LSV II, and AH LSV III and the limited liability company agreements of AH Equity V Parallel, AH EP V, AH EP LSV I, AH EP LSV II, and AH EP LSV III, the general partner and limited partners or members, as the case may be, of each of such entities may be deemed to have the right to receive dividends from, or the proceeds from, the sale of shares of the Issuer owned by each such entity of which they are a partner or a member, as the case may be. Y Y Y Y Exhibit 24.1 Power of Attorney for Marc L. Andreessen, dated June 23, 2023. Exhibit 24.2 Power of Attorney for Benjamin A. Horowitz, dated June 22, 2023. Exhibit 99.1 Joint Filing Agreement AH Parallel Fund V, L.P. /s/ Phil Hathaway 02/17/2026 AH Equity Partners V (Parallel), L.L.C. /s/ Phil Hathaway 02/17/2026 Andreessen Horowitz Fund V, L.P. /s/ Phil Hathaway 02/17/2026 CLF Partners, LP /s/ Phil Hathaway 02/17/2026 AH Equity Partners V, L.L.C. /s/ Phil Hathaway 02/17/2026 Andreessen Horowitz LSV Fund I, L.P. /s/ Phil Hathaway 02/17/2026 AH Equity Partners LSV I, L.L.C. /s/ Phil Hathaway 02/17/2026 Andreessen Horowitz LSV Fund II, L.P. /s/ Phil Hathaway 02/17/2026 AH Equity Partners LSV II, L.L.C. /s/ Phil Hathaway 02/17/2026 Andreessen Horowitz LSV Fund III, L.P. /s/ Phil Hathaway 02/17/2026 AH Equity Partners LSV III, L.L.C. /s/ Phil Hathaway 02/17/2026 Marc L. Andreessen /s/ Phil Hathaway 02/17/2026 Benjamin A. Horowitz /s/ Phil Hathaway 02/17/2026 Note 1: AH Parallel Fund V, L.P. for itself and as nominee for AH Parallel Fund V-A, L.P., AH Parallel Fund V-B L.P. and AH Parallel Fund V-Q, L.P. Note 2: Andreessen Horowitz Fund V, L.P. for itself and as nominee for Andreessen Horowitz Fund V-A, L.P., Andreessen Horowitz Fund V-B, L.P. and Andreessen Horowitz Fund V-Q, L.P. Note 3: Andreessen Horowitz LSV Fund I, L.P. for itself and as nominee for Andreessen Horowitz LSV Fund I-B, L.P. and Andreessen Horowitz LSV Fund I-Q, L.P. Note 4: Andreessen Horowitz LSV Fund II, L.P. for itself and as nominee for Andreessen Horowitz LSV Fund II-B, L.P. and Andreessen Horowitz LSV Fund II-Q, L.P. Note 5: Andreessen Horowitz LSV Fund III, L.P. for itself and as nominee for Andreessen Horowitz LSV Fund III-B, L.P., AH 2022 Annual Fund, L.P., AH 2022 Annual Fund-B, L.P. and AH 2022 Annual Fund-QC, L.P.