Statement by the Board of Directors of Transmode in relation to Infinera's enhanced public offer

Stockholm, Sweden - 29 June 2015 - The Board of Directors of Transmode is positive to the enhanced public offer from Infinera

Infinera Corporation ("Infinera") has today announced that the public offer to the shareholders of Transmode AB (publ) ("Transmode") as announced on 9 April 2015 (the "Offer") has been enhanced to provide Transmode shareholders a potential all cash consideration alternative.

The Board of Directors^[1] (the "Board") of Transmode is positive to the enhanced Offer providing Transmode shareholders an additional consideration alternative consisting of potentially all cash. As previously stated in a press release on 9 April 2015, the Board unanimously recommends the Offer.

As set out in Infinera's press release regarding the enhanced Offer, Infinera is now offering Transmode shareholders the choice between tendering their shares for SEK 110 per Transmode share in cash consideration, subject to a maximum total cash consideration in the Offer of SEK 2,133,611,172 (the "Capped Cash Alternative") or the original Offer consideration in the form of a mix of cash and shares of common stock in Infinera (adjusted for the dividend payment from Transmode of SEK 1.95 per share) (the "Original Consideration Alternative"). Additionally, Transmode shareholders can allocate their tenders between the two alternatives. In the event the aggregate cash consideration to be paid by Infinera in the Offer would exceed SEK 2,133,611,172, Infinera will, in respect of a certain pro rata portion of the Transmode shares tendered under the Capped Cash Alternative, instead pay consideration in the form of approximately 0.6376 Infinera shares per Transmode share. If the maximum pro rata reduction is made (i.e., where all outstanding Transmode shares are tendered in the Offer under the Capped Cash Alternative), 70.0 percent of the Transmode shares tendered in the Capped Cash Alternative will be acquired for cash consideration and 30.0 percent of the Transmode shares tendered in the Capped Cash Alternative will be acquired for consideration in the form of Infinera shares. For further information regarding the enhanced Offer, please see Infinera's press release of today.