2022-06-28 | NDAQ:CRNT | Press release

Shareholders are not required to take action at this time

RICHARDSON, TX, June 28, 2022 /PRNewswire/ — Ceragon Networks Ltd. (NASDAQ: CRNT) (“Ceragon” or the “Company”), the global innovator and leading provider of 5G wireless transport, acknowledges receipt of two letters from its competitor, Aviat Networks, Inc. (“Aviat”). The letters include a request to convene an extraordinary general meeting of shareholders calling for a change in the composition of Ceragon’s board of directors, where nominees hand-picked by Aviat would constitute the majority of the board. The letters also include an indication of Aviat’s interest in a potential acquisition of Ceragon.

Ceragon’s Board of Directors, in consultation with its advisors, will review the letters and act duly in the interests of the Company and its shareholders and in accordance with applicable law.

Ceragon shareholders do not need to act at this time.

About Ceragon Networks

Ceragon Networks Ltd. (NASDAQ:CRNT) is the global innovator and leading provider of 5G wireless transport solutions. We help carriers and other service providers around the world increase operational efficiency and improve end-customer quality of experience with innovative wireless backhaul and fronthaul solutions. Our customers include service providers, public safety organizations, government agencies and utility companies, who use our solutions to deliver 5G and 4G broadband wireless connectivity, mission critical media services, stabilized communications and other high reliability and speed applications.

Ceragon’s unique multi-core technology and disaggregated approach to wireless transport delivers highly reliable, fast-to-deploy, high-capacity wireless transport for 5G and 4G networks with minimal use of spectrum, energy, real estate and labor resources. It enables increased productivity, as well as quick and easy network modernization, positioning Ceragon as one of the leading solution providers for the 5G era. We provide a comprehensive portfolio of turnkey AI-powered managed and professional services that ensure efficient network deployment and optimization to achieve the highest value for our customers. Our solutions are deployed by more than 400 service providers, as well as more than 800 private network owners, in more than 150 countries. For more information, please visit: www.ceragon.com

Safe Harbor

Ceragon Networks® and FibeAir® are registered trademarks of Ceragon Networks Ltd. United States and other countries. CERAGON ® is a trademark of Ceragon Networks Ltd., registered in various countries. Other names mentioned belong to their respective owners.

This press release contains statements that constitute “forward-looking statements” within the meaning of the Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on Ceragon’s management’s current beliefs, expectations and assumptions regarding the business, financial condition, results of operations, micro and macro market trends and other matters discussed or reflected in them. this. Examples of forward-looking statements include, but are not limited to, statements regarding: demand projections, revenues, net profit, gross margin, capital expenditures and cash flow, competitive pressures, timing order management, supply chain and shipping, component availability, growth prospects, product development, financial resources, cost savings, and other financial and market matters. You can identify these and other forward-looking statements by the use of words such as “may”, “plans”, “anticipates”, “believes”, “estimates”, “targets”, “expects”, ” intends”, “potential” or the negative form of these terms, or other comparable terminology, although not all forward-looking statements contain these identifying words.

Although we believe that the projections reflected in these forward-looking statements are based on reasonable assumptions, we cannot guarantee that our expectations will be achieved or that any deviation from them will not be material. These forward-looking statements involve known and unknown risks and uncertainties that may cause Ceragon’s future results or performance to differ materially from those anticipated, expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, any current actions taken and future actions that may be taken by Aviat Networks or other shareholders or others; the continued impact of component shortages due to the global shortage of semiconductors, chipsets, components and other products, on our supply chain, manufacturing capacity and our ability to deliver our products on time, which has caused and may continue to cause delays in deliveries of our products and in the deployment of projects by our customers, the risks of penalties and cancellation of orders as a result, as well as the erosion of profits due to the increase constant prices, the payment of acceleration fees and the costs of pre-ordering inventory and accelerating the supply of such inventory, and the risk of becoming a dead animal if not consumed; the continued effect of the overall increase in shipping costs and reduced availability of shipping slots on us, our supply chain and our customers, which has resulted, and may continue to result, in price erosion, delivery delays and the risk of penalties and cancellation of orders due to delivery delays; the impact of the transition to 5G technologies on our revenues if this transition unfolds differently from what we expected; the risks related to the concentration of a significant part of our activities on the major mobile operators around the world from which we derive a significant part of our orders, this because of their relative effect on all orders coupled with a model of inconsistent order and volume of business directed to us creates significant volatility in our financial and operating results; the effect of competition from other vendors of wireless transport equipment and other communications solutions that compete with our high-capacity point-to-point wireless products; the continued effect of the COVID-19 pandemic on the global economy and markets, on us and the markets in which we operate, and on our business and transactions with our customers, suppliers, business partners and contractors; risks related to increased network or information technology security breaches as well as increased cyberattack activity, growing cybercrime threats and changes in privacy laws and data, which could adversely affect our business; risks associated with any failure to meet our product development schedule, including delay in the commercialization of our new chipset; the imposition of additional sanctions and limitations on world trade in connection with Russia invasion of Ukrainethe effects of general economic conditions and trends in the global and local markets in which we operate and other risks, uncertainties and other factors that could affect our results, as detailed in Ceragon’s most recent Annual Report on Form 20-F and in Ceragon’s other filings with the Securities and Exchange Commission.

These forward-looking statements, including the risks, uncertainties and other factors that could affect our results, represent our opinions only as of the date on which they are made and should not be taken to represent our opinions as of any subsequent date. These forward-looking statements are not intended to be predictions of future events or results and there can be no assurance that they will prove to be accurate. Ceragon may choose to update these forward-looking statements at some time in the future, but the company expressly disclaims any obligation to do so, except as required by law.

Public filings by Ceragon are available on the Securities and Exchange Commission’s website at www.sec.gov and can also be obtained from the Ceragon website at www.ceragon.com.

Ceragon Investor and Media Contact:

Maya Lustig

Ceragon networks

Such. +972-54-677-8100

[email protected]

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SOURCECeragon Networks Ltd.