/ PF2016E FCF Before Interest 8.3x Bookings $293 • S152 million total liquidity - $127 million of cash at close and $25 million undrawn revolver PF EBITDA $25 $70 Liquidity/ Leverage - $75 million cash reserve to fund restructuring, % Margin 8% potential tax and legal liabilities, and strategic

rectory business sold to Neustar for $220 mm or 9x EBITDA Cost Savings/EBITDA Growth • $83 mm of aggregate run-rate cost savings achieved • 2015 PF EBITDA of $109 mm, excluding divestitures Dividend Recap • Returned $230 mm, —84% of cost, to investors Sep. 2017 Debt Refinancing • Replaced 2nd lie

al EBITDA: 8.2x S m ermine• Total Savings PI: Total Revenue) $619 $619 ■ $64 mm cash to balance sheet to pre-fund Liquidity/ restructuring PF EBITDA(') $190 $60(4) $250 Leverage ■ Net Debtm / PF2018E Total EBITDA: 5.8x % Margin 3/70 40% Nom Plante " Ap prnela-F an name and Seri* Deets:tr

drrpriw Divestecksnet - Non-coui'asset Entry Summary Financials (F? 2016Er) £ nr, millions Total Projected Cost Savings Bookings $293 $293 PF EBITDA $25 $70 $95 % Margin 8% 32% Note: Plate we Appends-Focaneaof and "Stns. Diselanwe and 'CawStudio(' for Important informauon. &MUM:Mei 00Cillikt

nergies and PF Adjust.E71 PF Total • Significant run-rate cost savings opportunity in excess of $100 Bookings $264 $181 ($62) $383 million PF EBITDA $92 $58(8) ($27) $123 • $100nun+ cross-sell opportunity in new combined entity leveraging Xura's worldwide presence and Mitel Mobile's % Margi

dkathe future results. Revenue & EBITDA Growth • 5 consecutive quarters of —10% y-o-y bookings growth after 11 quarters of Y-o-Y decline • 2016 PF EBITDA of $17 mm, up from $12 mm in 2015 Follow-on acquisition • Accretive acquisition of Brocade's vADC assets for 6.6x PF EBITDA Restructured $17 mm

rectory business sold to Neustar for $220 mm or 9x EBITDA Cost Savings/EBITDA Growth • $83 mm of aggregate run-rate cost savings achieved • 2015 PF EBITDA of $109 mm, excluding divestitures Dividend Recap • Returned $230 mm, —84% of cost, to investors Sep. 2017 Debt Refinancing • Replaced 2nd lie