CSCO

• FY 2026 revenue was $63.3 billion, up 12%; GAAP EPS $3.33, non-GAAP EPS $4.33.
• Q4 product orders up 35% year over year; AI infrastructure orders totaled $9.3 billion for FY 2026.
• Declared quarterly dividend of $0.42 per share, payable October 21, 2026.
• Q1 FY 2027 guidance: revenue $18.0-$18.2 billion; FY 2027 revenue $72.2-$73.4 billion.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Q3 FY2026 revenue was $15.8 billion, up 12% year over year; GAAP EPS was $0.85 (up 37%) and non-GAAP EPS was $1.06 (up 10%).
• Total product orders grew 35% year over year (19% excluding hyperscalers); networking product orders grew more than 50%.
• AI infrastructure orders from hyperscalers reached $5.3 billion year to date; FY26 orders guidance raised to $9 billion (from $5 billion) and revenue guidance to $4 billion (from $3 billion).
• Cisco announced a restructuring plan with estimated pre-tax charges up to $1 billion, with about $450 million expected in Q4 FY2026 and the rest in FY2027.

2.02 Results of Operations and Financial Condition · 2.05 Costs Associated with Exit or Disposal Activities · 9.01 Financial Statements and Exhibits

• Nichlas A. Fink, currently Vice President and Corporate Controller, will become Senior Vice President and Chief Accounting Officer effective May 20, 2026.
• Fink joined Cisco in February 2016 and has held roles including Vice President of Finance and Senior Director of Finance.
• Fink is expected to receive a restricted stock unit award with a grant date fair value of $500,000.
• Fink is expected to enter into a standard indemnity agreement with Cisco.

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements

• Daniel H. Schulman notified Cisco of his resignation from the Board, effective May 21, 2026, due to his new role as CEO of Verizon Communications.
• Peter A. Shimer was appointed to Cisco's Board effective April 6, 2026, and will serve on the Audit Committee.
• Shimer will receive standard non-employee director compensation, including a pro rata portion of the $105,000 annual cash retainer and a pro rata portion of the $270,000 initial equity award.
• Shimer entered into Cisco's standard form of Indemnity Agreement.

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements

• GAAP EPS was $0.80, up 31% year over year; non-GAAP EPS was $1.04, up 11% year over year.
• GAAP operating margin was 24.6% and non-GAAP operating margin was 34.6%, both above the high end of guidance.
• Product orders grew 18% year over year, with AI infrastructure orders from hyperscalers totaling $2.1 billion.
• Quarterly dividend increased 2% to $0.42 per share, payable April 22, 2026.
• Q3 FY2026 guidance: revenue $15.4-$15.6 billion, non-GAAP EPS $1.02-$1.04; FY2026 revenue guidance $61.2-$61.7 billion.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• At the December 16, 2025 annual meeting, shareholders approved the amended 2005 Stock Incentive Plan, increasing authorized shares by 57,490,000.
• All nine director nominees were elected, including Michael D. Capellas, Charles H. Robbins, and Daniel H. Schulman.
• Shareholders approved executive compensation on an advisory basis and ratified PricewaterhouseCoopers as independent auditor.
• A stockholder proposal on inclusion program evaluation was rejected.

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 5.07 Submission of Matters to a Vote of Security Holders · 9.01 Financial Statements and Exhibits

• GAAP EPS was $0.72 (up 6%) and non-GAAP EPS was $1.00 (up 10%), both above the high end of guidance.
• GAAP gross margin was 65.5% and non-GAAP gross margin was 68.1%; GAAP operating margin was 22.6% and non-GAAP operating margin was 34.4%.
• Product orders grew 13% year over year, with AI Infrastructure orders from hyperscalers totaling $1.3 billion.
• Q2 FY2026 guidance: revenue $15.0-$15.2 billion, non-GAAP EPS $1.01-$1.03; FY2026 revenue $60.2-$61.0 billion, non-GAAP EPS $4.08-$4.14.
• Declared quarterly dividend of $0.41 per share, payable January 21, 2026.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• On October 15, 2025, Wesley G. Bush notified Cisco of his decision not to stand for re-election at the 2025 annual meeting of stockholders.
• Mr. Bush will continue to serve as a director until the 2025 Annual Meeting.

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements