Ciena : Investor Presentation - Summer 2022

Ciena Corporation

Investor Presentation

Summer 2022

Copyright © Ciena Corporation 2022. All rights reserved. Proprietary information.

Forward-looking statements and non-GAAP measures

Information in this presentation and related comments of presenters contain a number of forward-looking statements. These statements are based on current expectations, forecasts, assumptions and other information available to the Company as of the date hereof. Forward-looking statements include Ciena's prospective financial results, return of capital plans, business strategies, expectations about its addressable markets and market share, and business outlook for future periods, as well as statements regarding Ciena's expectations, beliefs, intentions or strategies regarding the future. Often, these can be identified by forward-looking words such as "target" "anticipate," "believe,"

"could," "estimate," "expect," "intend," "may," "should," "will," "plan," "predict," "potential," "project, "continue," and "would" or similar words.

Ciena's actual results, performance or events may differ materially from these forward-looking statements made or implied due to a number of risks and uncertainties relating to Ciena's business, including: the effect of broader economic and market conditions on our customers and their business; our ability to execute our business and growth strategies; the impact of supply chain constraints or disruptions; the duration and severity of the COVID-19 pandemic and the impact of countermeasures taken to mitigate its spread on macroeconomic conditions, economic activity, demand for our technology solutions, short- and long-term changes in customer or end user needs, continuity of supply chain, our business operations, liquidity and financial results; changes in network spending or network strategy by our customers; seasonality and the timing and size of customer orders, including our ability to recognize revenue relating to such sales; the level of competitive pressure we encounter; the product, customer and geographic mix of sales within the period; changes in foreign currency exchange rates; factors beyond our control such as natural disasters, climate change, acts of war or terrorism, geopolitical events, including but not limited to the ongoing conflict between Ukraine and Russia, and public health emergencies; changes in tax or trade regulations, including the imposition of tariffs, duties or efforts to withdraw from or materially modify international trade agreements; and the other risk factors disclosed in Ciena's periodic reports filed with the Securities and Exchange Commission (SEC) including Ciena's Annual Report on Form 10-K filed with the SEC on December 17, 2021 and Ciena's Quarterly Report on Form 10-Q for the second quarter of fiscal 2022.

All information, statements, and projections in this presentation and the related earnings call speak only as of the date of this presentation and related earnings call. Ciena assumes no obligation to update any forward-looking or other information included in this presentation or related earnings calls, whether as a result of new information, future events or otherwise.

In addition, this presentation includes historical, and may include prospective, non-GAAP measures of Ciena's gross margin, operating expense, operating profit, EBITDA, net income, and net income per share. These measures are not intended to be a substitute for financial information presented in accordance with GAAP. A reconciliation of non- GAAP measures used in this presentation to Ciena's GAAP results for the relevant period can be found in the Appendix to this presentation. Additional information can also be found in our press release filed this morning and in our reports on Form 10-Q filed with the Securities and Exchange Commission.

With respect to Ciena's expectations under "Business Outlook", Ciena is not able to provide a quantitative reconciliation of the adjusted (non-GAAP) gross margin, operating

expense, operating margin and earnings per share guidance measures to the corresponding gross profit and gross profit percentage, and operating expense GAAP measures without unreasonable efforts. Ciena cannot provide meaningful estimates of the non-recurring charges and credits excluded from these non-GAAP measures due to the forward-looking nature of these estimates and their inherent variability and uncertainty. For the same reasons, Ciena is unable to address the probable significance of the unavailable information.

Copyright © Ciena Corporation 2022. All rights reserved. Proprietary information.	2

Our Pedigree

Copyright © Ciena Corporation 2022. All rights reserved. Proprietary information.

3

Overview

Ciena is an industry-leading global networking systems, services, and software company

with a strong track record of creating shareholder value

Leading technology

and innovation

• R&D spend ~15% of total revenue
• ~2,700 R&D specialists
• DWDM pioneer and first to market with 40G, 100G, 400G and 800G technology
• ~2,000 issued patents and 500 pending patents

Diversification

and scale

• 41% of FY21 revenue from non-telco customers
• 1,700+ customers
• Operations in 35+ countries
• Top 10 customers included four web- scalers, three US service providers, two international service providers and one cable operator

Market leadership

• Recognized as the market leader in our space
• #1 or #2 market share across our Optical markets1
• Ex-China,quarterly market share has grown from ~12% in 2011 to ~25% in 20201

Demonstrated track

record of performance

• 7% 5-year revenue
  CAGR
• Adjusted operating margin has grown by more than 580 basis points since 2018
• 17% 5-year total shareholder return CAGR2

Strong

balance sheet

• Our balance sheet represents a competitive advantage
• $1.7B+ in cash and investments at FYE21
• $1.0B share repurchase program including a $250M accelerated share repurchase (ASR) announced in December 2021

Strong ESG progress

• ISS Governance Score 1 of 5
• Ecovadis Platinum Medal (Top 1%)
• Great Place To Work (US, Canada, India)
• 2022 Institutional Investor Magazine, Best ESG Communications for our sector

1 As cited by Omdia, Dell'Oro Group and Cignal AI for different markets

2	Based on closing share price between 5/19/2017 and 5/18/2022
Copyright © Ciena Corporation 2022. All rights reserved. Proprietary information.

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Our portfolio

Enabling the Adaptive Network™

SOFTWARE CONTROL AND AUTOMATION

Blue Planet® multi-domain orchestration, federated inventory, and service order management solutions support service lifecycle automation across multi-layer,multi-vendor networks.

Ciena's Manage, Control and Plan (MCP) domain controller provides intelligent, data-driven,software-defined programmability to lifecycle network operations across multi-layerCiena-based infrastructure.

ANALYTICS AND INTELLIGENCE

Blue Planet® Unified Assurance and Analytics and Route Optimization and Analysis software unify multi-layer, multi- domain assurance, with AI-powered analytics to provide strategic insights that transform and streamline business, IT, and network operations.

MCP Advanced Apps enhance operations and simplify user experience for optimization of multi-layer network performance, featuring Liquid Spectrum™ for increased optical network capacity and service availability, and Adaptive IP™ Apps for advanced real-time visualization and analysis of multi-vendor IP networks.

PROGRAMMABLE INFRASTRUCTURE

Converged Packet Optical Networking: Full suite of compact modular and converged software-programmable platforms, featuring Ciena's award-winning WaveLogic™ Coherent Optics, fully instrumented, reconfigurable line systems and agnostic packet/OTN switching, designed to maximize scale, flexibility, and open networking. Delivers optimal network performance across applications from metro to submarine, and is the dominant platform used globally for Data Center Interconnect.

Routing and Switching: Purpose-built routing, switching, and x86 VNF hosting platforms-leveraging a common Service-Aware Operating System (SAOS) and WaveLogic Coherent Optics-provide the building blocks for low-touch,high-velocity IP, Segment Routing, Ethernet, MPLS, and pluggable PON for access, aggregation, and metro networks.

Copyright © Ciena Corporation 2022. All rights reserved. Proprietary information.

CIENA SERVICES

Enables customers to deliver the exceptional experiences their end users expect. Ciena regional teams partner with customers to build, operate, improve, and transform their network.

Ciena leverages a robust set of services, proven processes, and tools to enable customer success and accelerate their journey to the Adaptive Network.