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© 2026 Ribbon | Public 1 Ribbon Communications Third Quarter 2026 Financial Results October 27, 2026
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© 2026 Ribbon | Public 2 Note Regarding Forward-Looking Statements and Non-GAAP Financial Measures This presentation contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, which are subject to a number of risks and uncertainties. All statements other than statements of historical facts contained in this presentation, including without limitation, statementsregarding the Company’s projected financial results for the fourth quarter and full year 2026 and beyond; expected customer bookings, spend and timing; beliefs about the Company’s business strategy, including new product introductions such as the Acumen AIOps platform; beliefs about the accelerating adoption of AI and the shift towards autonomous networking; the timing of customer network transformation projects; and market share growth, are forward-looking statements. Without limiting the foregoing, the words “anticipates”, “believes”, “could”, “estimates”, “expects”, “expectations”, “intends”, “may”, “plans”, “projects” and other similar language, whether in the negative or affirmative, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are based on the Company’s current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are unknown and/or difficult to predict and that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, but are not limited to, unpredictable fluctuations in quarterly revenue and operating results; the impact of restructuring and cost-containment activities; impacts from new tariffs, the potential modification of, or loss of benefits under, the USMCA and other trade restrictions or taxes on our products; supply chain disruptions resulting from component availability; impacts from the wars in the Middle East and Ukraine and related economic volatility and uncertainty resulting therefrom; the impact of military call-ups of our employees in Israel; material litigation; the impact of fluctuationsin interest rates; material cybersecurity and data intrusion incidents, including any security breaches resulting in the theft, transfer, or unauthorized disclosure of customer, employee, or company information;our ability to comply with applicable domestic and foreign information security and privacy laws, regulations and technology platform rules or other obligations related to data privacy and security; failure tocompete successfully against telecommunications equipment and networking companies; failure to grow our customer base or generate recurring business from our existing customers; credit risks; the timing of customer purchasing decisions and our recognition of revenues; macroeconomic conditions, including inflation; our ability to adapt to rapid technological and market changes; our ability togenerate positive returns on our research and development; our ability to protect our intellectual property rights and obtain necessary licenses; our ability to maintain partner, reseller, distribution and vendor support and supply relationships; the potential for defects in our products; risks related to the terms of our Credit Agreement, including our ability to comply with the maximum net leverage ratio, our ability to obtain future waivers or amendments to the Credit Agreement, and increases in the applicable interest margin; higher risks in international operations and markets; currency fluctuations; unanticipated adverse changes in legal, regulatory or tax laws; future accounting pronouncements or changes in our accounting policies; and/or failure or circumvention of our controls and procedures. We therefore caution you against relying on any of these forward-looking statements. These factors are not intended to be an all-encompassing list of risks and uncertainties that may affect our business and results from operations. Additional information regarding these and other factors can be found in our reports filed with the Securities and Exchange Commission, including, without limitation, our Form 10-K for the year ended December 31, 2025. Any forward-looking statement made by the Company in this presentation speaks only as of the date on which this presentation was first issued. We undertake no obligation to update any forward-looking statement publicly or otherwise, whether as a result of new information, future developments or otherwise, except as required by law. This presentation also includes certain non-GAAP financial measures in addition to the U.S. GAAP financials. Our management believes that presenting certain non-GAAP financial measures provides meaningful information to investors in understanding our operating results and may enhance investors' ability to analyze financial and business trends including the ability to compare period to period more easily by excluding items that could have a disproportionately negative or positive impact on results in a given financial period. The non-GAAP measures have limitations as analytical tools, and you should not consider them in isolation or as a substitute for the most directly comparable financial measures prepared in accordance with U.S. GAAP. We urge you to review the reconciliation of our non-GAAP financial measures to the most directly comparable GAAP financial measuresin the supplemental financial information provided on our website at investors.ribboncommunications.com, and not to rely on any single financial measure to evaluate our business. Please note that as part of the basis of presentation, totals may not sum due to rounding.
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© 2026 Ribbon | Public 3 Third Quarter 2026 Business Overview Bruce McClelland, President & CEO Rick Marmurek, Executive Vice President & CFO
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© 2026 Ribbon | Public 4 R EVENUE $219M ▲ +$26M QoQ ▲ +$3M YoY GR OSS MAR GIN 1 50.3% ▲ +100 bps QoQ ▼ (230) bps YoY CASH FR OM OPER ATIONS ($14M) Ending Cash Balance $42M Third Quarter 2026 Highlights | Consolidated Market Growth Recovery in U.S. Service Provider Voice Modernization Strong Market Demand for IP and Optical Solutions New Government and Defense Voice Projects Large Enterprise Momentum Data Center Interconnect Projects Customer Highlights Verizon Revenue up 50% QoQ U.S. Tier 2 Service Provider Wins Strategic Win with Large U.S. Govt Civilian Agency Cloud Native Transformation Programs Growing IP Optical Share in Asia Pacific ADJUSTED EBITDA 1 $27M ▲ +$15M QoQ ▼ ($2M) YoY 12% Adj. EBITDA1 Margin 1. Please see the discussion of non-GAAP financial measures in the supplemental financial information included on the Ribbon Investor Relations website.
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© 2026 Ribbon | Public 5 $108 $137 $124 $142 $100 $111 $123 $74 $84 $91 $85 $63 $82 $96 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Cloud and Edge Revenue IP Optical Networks Revenue $6 $32 $29 $40 ($8) $12 $27 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Adjusted EBITDA1 ($ millions) Key Financial Trends1 1. Please see the discussion of non-GAAP financial measures in the supplemental financial information included on the Ribbon Investor Relations website. Adj. EBITDA Margin % $221M $181M $91 $119 $107 $70 2023 2024 2025 3Q26 Trailing Twelve Months Adjusted EBITDA1 ($ millions) $227M 12% $163M $219M $192M $215M
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© 2026 Ribbon | Public 6 R EVENUE $96M ▲ +$14M QoQ ▲ +$5M YoY YTD Book to revenue of 1.24x GR OSS MAR GIN 1 35.5% ▲ +30 bps QoQ ▼ (390) bps YoY Reflects changes in geographic and product mix Third Quarter 2026 Highlights | IP Optical Networks Market and Customer Trends Record 3Q Revenue U.S. Revenue increased 150% YoY Strategic Customer Additions in U.S. Market Growth in U.S. Energy Critical Infrastructure Sector Data Center Interconnect Projects Adjusted EBITDA 1 ADJUSTED EBITDA 1 ($1M) ▲ +$5M QoQ ▼ ($2M) YoY 1. Please see the discussion of non-GAAP financial measures in the supplemental financial information included on the Ribbon Investor Relations website. ADJ. EBITDA 1 MAR GIN (1%) ▲ +580 bps QoQ ▼ (240) bps YoY ($15) ($5) $1 ($8) ($16) ($6) ($1) 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 ($ millions)
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© 2026 Ribbon | Public 7 R EVENUE $123M ▲ +12M QoQ ▼ ($2M) YoY GR OSS MAR GIN 1 61.9% ▲ +210 bps QoQ ▼ (30) bps YoY Third Quarter 2026 Highlights | Cloud and Edge Market and Customer Trends Service Provider Voice Modernization Momentum New U.S. Govt Civilian Agency Project Deepfake AI Voice Cybersecurity Mitigation TNS Hosted Cloud Connect Partnership New Business Leader for AI Initiatives Adjusted EBITDA 1 ADJUSTED EBITDA 1 $28M ▲ +$10M QoQ Flat YoY 1. Please see the discussion of non-GAAP financial measures in the supplemental financial information included on the Ribbon Investor Relations website. $20 $37 $28 $48 $8 $18 $28 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 ($ millions) ADJ. EBITDA 1 MAR GIN 23% ▲ +680 bps QoQ ▲ +30 bps YoY
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© 2026 Ribbon | Public 8 Profitability Notes: 1. Please see the discussion of non-GAAP financial measures in the supplemental financial information included on the Ribbon Investor Relations website. 2. As a percentage of total revenue. 3. Principal balance outstanding. 4. Term Debt less cash divided by Trailing Twelve Months non-GAAP Adjusted EBITDA. 5. Based on Product and Professional Services revenue. Revenue Mix Balance Sheet Cash Flow Enterprise 31%2 Service Provider 69%2 30% Maintenance Revenue2 Top 10 Customers Revenue 46% Domestic 46%2 International 54%2 YTD Book to Revenue 1.08x5 Cash Position @ $42M ($14M) Cash from Operations $1M Cash Capital Expenditures Senior Term Loan Debt3 $336M Revolving Credit Facility $15M 4.7M Warrants Outstanding Net Debt Leverage 4.4x4 Third Quarter 2026 Key Metrics | Consolidated 50% Gross Margin1 Operating Expenses1 @ $88M $27M Adjusted EBITDA1 $0.07 Non-GAAP EPS1
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© 2026 Ribbon | Public 9 Third Quarter 2026 Non-GAAP1 Financial Summary 1. Please see the discussion of non-GAAP financial measures in the supplemental financial information included on the Ribbon Investor Relations website. 3Q25 2Q26 3Q26 Revenue $215M $192M $219M Non-GAAP Gross Margin1 52.6% 49.3% 50.3% Non-GAAP Opex1 $89M $88M $88M Non-GAAP Operating Margin1 11.4% 3.7% 10.3% Non-GAAP Adjusted EBITDA1 $29M $12M $27M Non-GAAP Diluted EPS1 $0.04 ($0.03) $0.07
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Key Market Trends & Outlook
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© 2026 Ribbon | Public 11 Network Modernization ▪ Legacy TDM Voice Switch replacement and copper elimination programs ▪ Migration of Telco workloads to automated cloud-native solutions ▪ Enterprises leveraging software deployment automation to improve security posture Operating Environment in 2026 ▪ Exponential growth in data consumption, including AI-attached acceleration ▪ Robust public and private funding to improve access to the internet including $42B U.S. BEAD federal funding ▪ Regional service providers are seeking new avenues to monetize their fiber investments by connecting data centers (DCI) Government and Critical Infrastructure Communications Shifting Competitive Environment Fiber & DCI Investment ▪ Major voice modernization projects require convergence of public cloud with on- premises survivability ▪ Secure mission-critical transport networks ▪ AI-enabled digitalization accelerating ▪ Massive infrastructure investment needed ▪ Focus on cost reduction, efficiency, and agility ▪ Automate Everything, Everywhere ▪ Enabling secure AI voice ▪ Multi-modal interaction (voice, video, and text) ▪ Industry consolidation continues – both supplier and Service Provider – creates both opportunity and risk ▪ Extended lead times from key optical competitors create potential for share gain ▪ Industry-wide component shortages increase supply chain costs Major Investments are being made across our Addressable Market Agentic & AI Voice
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© 2026 Ribbon | Public 12 Growing Regional Data Center Interconnect (DCI) Opportunity AI infrastructure requires massive edge-to-core data transport High Density Apollo 9400 Source Pew Research & Datacentermap.com - April 2026 • 67% of planned USA DC growth is in rural areas – representing 1,000 of the 1,500 planned datacenters • 2026 year-to-date DC spending of $49.5 billion, vs $13.6 billion for 2025* • Data center optimized design • 800G/1.2T • Optical scaling • Cross-sell into rural telecom installed base • Edge AI Factories and Rural Data Centers • Open, thin transponder design – Enables dual source supply in constrained market – New class of transponders with small low power pluggable transceivers - Ribbon Thin Transponder • Muse has self-serve automation to accelerate & simplify deployments Ribbon Positioned to Win Rural DCI % of data centers in the USA 87% 33% 13% 67% Active Planned Urban Rural * Source: Construct Connect April 2026
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© 2026 Ribbon | Public 13 Government & Defense – Continued Momentum Specialized SolutionsTrusted Partner Secure Communications • Deep customer relationships • Strong business partners • JITC/ JWTC certifications • Federal Security Clearance • 3rd party integration expertise IP & Optical Networks Voice Networks • Major systems integrator and technology provider of secure data communication infrastructure • Hardened integrated solutions with common management and automation platform • Modern cloud based unified voice communications portfolio • Unique and differentiated tactical voice portfolio supporting forward field deployments Growing Footprint • Nationwide IPO network wins in Asia and Eastern Europe • Navy Ship2Shore rollout • New Network in a Box wins • Flagship Voice Transformation win in Federal
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© 2026 Ribbon | Public 14 Expanding Presence in Critical Infrastructure Networks Strategic Wins • Security – Critical need to modernize to protect from new threats • Reliability – AI and automation to accelerate troubleshooting • Efficiency – Need for centralized management of control power generation elements • Scalability – Modern IT/OT services require packet transport and greater network capacity Winning in Critical Infrastructure Unique Ribbon IP routing to integrate legacy & new Proven broadband portfolio and residential/ business VoIP Superior price performance - seamless integration with OT Network, including common management Differentiated Value OT Network Operations/ Control Substations SCADA HMI Teleprotection Engineering Workstations & Control IT Network Corporate/ Enterprise User Devices & Apps Servers & Data Center Telecom Network Utility Telecom Services Voice Services Internet / Broadband
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© 2026 Ribbon | Public 15 Ribbon Call Trust® Deepfake Detection Criminals using AI-based synthetic voices (deepfakes) that sound like a real person - to commit fraud Ribbon Can Help! Deepfake Attack A bad actor uses AI and a few seconds of a person’s voice to create a deepfake. Malicious Caller Uses Social Engineering to extract money or obtain credentials (to get access to corporate networks or secrets). Protect Vulnerable Consumers Fraudsters pretend to be trusted family to access accounts or steal credit cards. Safeguard Corporate Assets Bad actors emulate executives or coworkers to release funds, access networks, or steal corporate trade secrets. Complete Protection - Device Agnostic Protect a user’s phone line: UC client, mobile phone, or contact center agent software. RIBBON CALL TRUST® SOLUTION Session Border Controller Voice firewall securing every SIP session1 Spam call detection & blocking Real-time scoring of phone numbers blocks robocalls2 Deepfake Detection & policy-aware action Real-time: alert the called party and/or end the call3 Protected Customer At any time during a call, if Call Trust detects deepfake audio, it verbally alerts the user to end & report the call. Brilliant Experience No software to learn; the same simple experience everywhere. A clear verbal warning during the call or an automatic disconnect. Managed and deployed in the network
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© 2026 Ribbon | Public 16 Intent-driven AIOps and Agentic Automation Platform NOC Agent Network Change Agent Fraud Analyst Agent Field Tech Agent MCP Servers Tools & actions RAG Data Sources Grounded context AI / LLM Models Reasoning engines Consulting
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© 2026 Ribbon | Public 17 Fourth Quarter and Full Year 2026 Business Outlook 1. Please see the discussion of non-GAAP financial measures in the supplemental financial information included on the Ribbon Investor Relations website. 4Q25 (Actual) FY25 (Actual) 4Q26 (Outlook) FY26 (Outlook) Revenue $227M $845M $233M to $247M $807M to $821M Non-GAAP Gross Margin1 55.4% 52.3% 53.5% to 54.5% 50.1% to 50.5% Non-GAAP Adjusted EBITDA1 $40M $107M $40M to $47M $70.5M to $77.5M
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Appendix
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© 2026 Ribbon | Public 19 Ribbon Key Revenue Statistics USD Millions except for percentages 1Q25 2Q25 3Q25 4Q25 FY25 1Q26 2Q26 3Q26 Revenue Product 82 115 110 128 435 68 96 121 Service 99 106 105 100 410 94 97 97 Total Revenue 181 221 215 227 845 163 192 219 % of Total Revenue: Revenue Mix Product 45% 52% 51% 56% 51% 42% 50% 55% Services 55% 48% 49% 44% 49% 58% 50% 45% Revenue by Geography Domestic 46% 53% 45% 47% 48% 45% 46% 46% International 54% 47% 55% 53% 52% 55% 54% 54% Revenue by Channel Direct 76% 72% 77% 69% 69% 75% 72% 74% Indirect 24% 28% 23% 31% 31% 25% 28% 26% Revenue By Market Enterprise 27% 29% 29% 33% 30% 28% 33% 31% Service Providers 73% 71% 71% 67% 70% 72% 67% 69% Verizon BhartiVerizon Verizon Verizon10% Total Revenue Customers Verizon Verizon Verizon Bharti Verizon Bharti
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© 2026 Ribbon | Public 20 Quarterly Non-GAAP1 Segment Trend | Cloud and Edge Cloud and Edge – 2025 2026 1Q 2Q 3Q 4Q FY25 1Q 2Q 3Q Revenue vs Prior Year $108M +6% $137M +24% $124M (3%) $142M (14%) $511M +1% $100M (8%) $111M (19%) $123M (1%) Non-GAAP Gross Margin1 63% 62% 62% 68% 64% 57% 60% 62% Non-GAAP Adjusted EBITDA1 $20M $37M $28M $48M $134M $8M $18M $28M Non-GAAP Adjusted EBITDA Margin1 19% 27% 22% 34% 26% 8% 16% 23% 1. Please see the discussion of non-GAAP financial measures in the supplemental financial information included on the Ribbon Investor Relations website.
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© 2026 Ribbon | Public 21 IP Optical Networks – 2025 2026 1Q 2Q 3Q 4Q FY25 1Q 2Q 3Q Revenue vs Prior Year $74M (6%) $84M +2% $91M +11% $85M (2%) $333M +1% $63M (14%) $82M (2%) 96M +5% Non-GAAP Gross Margin1 28% 36% 39% 34% 35% 28% 35% 35% Non-GAAP Adjusted EBITDA1 ($15M) ($5M) $1M ($8M) ($27M) ($16M) ($6M) ($1M) Non-GAAP Adjusted EBITDA Margin1 (20%) (6%) 1% (9%) (8%) (26%) (7%) (1%) Quarterly Non-GAAP1 Segment Trend | IP Optical Networks 1. Please see the discussion of non-GAAP financial measures in the supplemental schedule financial information on the Ribbon Investor Relations website.
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© 2026 Ribbon | Public 22 Third Quarter 2026 GAAP Financial Summary 3Q25 2Q26 3Q26 Revenue $215M $192M $219M Gross Margin 50.1% 47.0% 48.2% Operating Expenses $105M $103M $100M Income (loss) from operations $3M ($12M) $6M Other (expense) income, net ($12M) ($13M) ($10M) Net income (loss) ($12M) ($27M) ($9M) Diluted EPS ($0.07) ($0.15) ($0.05)
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© 2026 Ribbon | Public 23 Refer to the supplemental schedules including financial results, key stats, and non-GAAP reconciliations on the investor relations website at investors.ribboncommunications.com Thank You