925550AB1

• Fiscal Q4 2026 net revenue was $443.1 million, up 52.5% year-over-year.
• Fiscal year 2026 net revenue was $1.5 billion, up 40.0% year-over-year; GAAP net loss was $30.4 million.
• For Q1 FY2027, the company expects net revenue between $450 million and $460 million and non-GAAP EPS between $0.40 and $0.42.
• The company modified its non-GAAP presentation to exclude employer payroll taxes related to stock-based compensation, with no impact on GAAP results.

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

• The underwriters exercised in full their option to purchase an additional 1,666,666 shares on May 20, 2026.
• Net proceeds from the offering are approximately $557.2 million, after underwriting discounts and estimated expenses.
• The company intends to use the net proceeds to repay the $450 million aggregate principal of its 7-year term loan facility entered into in March 2025, with any excess for working capital or general corporate purposes.
• The company and its executive officers and directors agreed to a 60-day lock-up period, subject to customary exceptions.

8.01 Other Events · 9.01 Financial Statements and Exhibits

• Donald Colvin stepped down as Audit Committee Chair on May 12, 2026, and will remain an independent Board and Audit Committee member.
• Joanne Solomon, an independent director since February 2022 and an audit committee financial expert, was appointed Audit Committee Chair effective immediately.
• Doug Gilstrap, an independent director since November 2022, was appointed to the Corporate Development Committee on May 12, 2026.
• Gilstrap also serves on the Compensation Committee.

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

• GAAP net income was $6.4 million ($0.03 diluted EPS), down 67.2% year-over-year; non-GAAP net income was $67.6 million ($0.27 diluted EPS), up 99.4% year-over-year.
• GAAP operating margin was 6.1% (up 310 bps Y/Y); non-GAAP operating margin was 21.0% (up 430 bps Y/Y).
• Network and Service Enablement segment revenue was $321.5 million (up 54.4% Y/Y); Optical Security and Performance Products revenue was $85.3 million (up 11.4% Y/Y).
• For Q4 FY2026, the company expects net revenue between $427 million and $437 million and non-GAAP EPS between $0.29 and $0.31.

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

• GAAP net loss was $48.1 million, down 628.6% year-over-year; non-GAAP net income was $51.5 million, up 75.2%.
• Non-GAAP diluted EPS was $0.22, up 69.2% year-over-year; GAAP diluted EPS was $(0.21).
• Company approved a restructuring plan on January 23, 2026, affecting ~5% of global workforce, with estimated charges of ~$32 million and ~$30 million in annualized savings.
• Q3 FY2026 guidance: net revenue between $386 million and $400 million, non-GAAP EPS between $0.22 and $0.24.

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

• The exchange is expected to close on or about December 22, 2025, subject to customary closing conditions.
• After the exchange, approximately $49.037 million of the 2026 Notes will remain outstanding.
• Viavi will receive no cash proceeds; the exchange supports its plan to prepay at least $100 million of its $600 million Term Loan Credit Facility over the next twelve months.
• The shares are being issued in a private placement exempt from registration under Section 4(a)(2) of the Securities Act.

1.01 Entry into a Material Definitive Agreement · 3.02 Unregistered Sales of Equity Securities · 9.01 Financial Statements and Exhibits

• The amended certificate was filed with the Delaware Secretary of State on November 13, 2025, and became effective upon filing.
• Stockholders elected nine directors, each receiving over 183 million votes for, with broker non-votes of about 14.48 million per director.
• The ratification of PricewaterhouseCoopers LLP as independent auditor for fiscal 2026 passed with 200,728,070 votes for.
• Stockholders also approved, on a non-binding advisory basis, executive compensation, and the amendment and restatement of the 2003 Equity Incentive Plan.

5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year · 5.07 Submission of Matters to a Vote of Security Holders

• GAAP net loss was $21.4 million, or $(0.10) diluted EPS; non-GAAP net income was $33.1 million, or $0.15 diluted EPS.
• Non-GAAP operating margin was 15.7%, up 570 bps year-over-year; GAAP operating margin was 2.5%.
• Network and Service Enablement segment revenue grew 35.5% year-over-year to $216.0 million; Optical Security and Performance Products revenue grew 5.5% to $83.1 million.
• For Q2 FY2026, the company expects net revenue between $360 million and $370 million and non-GAAP EPS between $0.18 and $0.20.

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