ADTRAN Holdings, Inc. Investigation - ADTN

Company: ADTRAN Holdings, Inc.

Ticker: (NASDAQ) ADTN

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Certification of Plaintiff Pursuant to Federal Securities Laws

I, duly certify and say, as to the claims asserted under the federal securities laws, that:

1. I have reviewed a complaint filed in the action.

2. I did not purchase the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this action.

3. I am willing to serve as a representative party on behalf of the class, including providing testimony at deposition and trial, if necessary.

4. My transaction(s) in ADTRAN Holdings, Inc. which are the subject of this litigation during the class period set forth in the complaint are set forth in the chart attached hereto.

5. Within the last 3 years,

I have not sought to serve nor have I served as a class representative in any federal securities fraud case.
I have sought to serve as a class representative in

6. I will not accept any payment for serving as a representative party on behalf of the class beyond the Plaintiff's pro rata share of any recovery, except as ordered or approved by the court, including any award for reasonable costs and expenses (including lost wages) directly relating to the representation of the class.

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Yes. I certify under penalty of perjury that the foregoing is true and correct. Executed this
No. I certify under penalty of perjury under the laws of the United States of America that the foregoing is true and correct. Executed this

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Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

By your signature above, you confirm that have retained Levi & Korsinsky, LLP to represent you and the shareholder class as a lead plaintiff in the pending class action against ADTRAN Holdings, Inc. This representation will be on a contingency basis, meaning that Levi & Korsinsky will advance all expenses in the litigation and will only seek compensation and/or reimbursement of expenses if the firm obtains a recovery. Regardless of the result, we will never ask you to directly pay for any attorneys’ fees, expenses, or costs. Should we obtain a favorable result, we may ask the court to award us compensation and reimbursement of expenses to be paid by the defendants or as a portion of any class recovery. In exchange for our representation, you agree to cooperate as our client by providing, for example, relevant documents and deposition testimony, if necessary. During the course of this litigation, we may employ and/or work with other law firms, experts, and third-parties to successfully prosecute this action. If you are not appointed as the lead plaintiff or Levi & Korsinsky is not appointed as lead counsel, we will notify you of such decision at which time this representation will end unless otherwise extended by you and the firm. We look forward to working with you towards a successful resolution of this action.

I have reviewed the complaint linked in paragraph 1

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Investigation Details

ADTRAN Holdings shares shares fell approximately 15% on July 22, 2026 after the company announced preliminary unaudited Q2 2026 revenue of $280 million to $282 million and non-GAAP operating margin of about 3.5% to 4.0%, both below its guidance of $283 million to $303 million in revenue and 5% to 9% non-GAAP operating margin.

On the Q1 2026 call, CFO Timothy Santo stated: “We expect revenue to be between $283 million and $303 million, and non-GAAP operating margin within a range of 5% to 9%.” The preliminary figures placed revenue $1 million to $23 million below that range and operating margin at least 100 basis points below the bottom of the stated range.

An investor presentation attached to a May 5, 2026 Form 8-K reported revenue of $286.1 million, up 15.5% year-over-year and within prior guidance of $275 million to $295 million. The preliminary Q2 revenue range of $280 million to $282 million was approximately $4.1 million to $6.1 million below analyst consensus estimate.