note') o $125 million subordinated equitya) — Mitel had acquired Mitel Mobile for 5560 million in April 2015 • The combined company was rebranded Mavenir upon closing of Mitel Mobile acquisition Follow-on Investment I Highlights Sims Valuation Mitel Mobile Mitel Acq. (Apr-151 Xura Acq. Valuation

le acqulsitlort. had Call Option(s) (venture division) that were generating negative EBITDA), and TEV Total EBITDA at entry for Intralinks, Polycom. Mavenir, PGi, Pulse, TNS and MModal (each of which, at the time of the applicable acquisition, had Call Option(s) that were generating positive EINTDA). Cos

le acqulsitlort. had Call Option(s) (venture division) that were generating negative EBITDA), and TEV Total EBITDA at entry for Intralinks, Polycom. Mavenir, PGi, Pulse, TNS and MModal (each of which, at the time of the applicable acquisition, had Call Option(s) that were generating positive EINTDA). Cos

2 March 2014 Wireless Equipment Signals to Noise (S2N) Nlavenir - VoLTE the Key Our MWC conversations with Mavenir senior management noted a positive view on Voice over LTE network services rollouts in 2014+ at the company's US and European telco customers - i.e

"fiberization" of the radio access and metro aggregation network. We provide our preview of Ciena's upcoming quarterly results in a separate note. Mavenir: Our MWC conversations with Mavenir senior management noted a positive view on Voice over LTE network services rollouts in 2014+ at the company's US