Infinera Completes $373.75 Million Convertible Senior Notes Offering and Repurchases Approximately $300 Million of 2024 Convertible Notes - Seite 2

	Millions
	Pre-issuance of 2028 Notes (Q2’22)	Post-issuance of 2028 Notes	Change
Total cash/restricted cash	$155.18	$234.03	$78.85
Total debt	$640.62	$714.52	$73.90
Supplemental diluted outstanding shares1	285.97	255.60	(30.37)

1. The calculation of supplemental diluted outstanding shares assumes that the Company elects to settle entirely in shares all conversions of the 2024 and 2027 Notes and the portion of the conversion value of the 2028 Notes that exceeds the principal amount thereof. The pre-issuance (of 2028 Notes) supplemental diluted outstanding shares are sourced from the Q2’22 earnings press release. To the extent the price of the Company’s common stock for any relevant period exceeds $6.80 (which is the conversion price of the 2028 Notes), the calculation to compute the incremental dilutive impact from the 2028 Notes, assuming that the Company elects to settle the conversion value in excess of the principal amount entirely in shares, is as follows: ((average share price – strike price) x 54.985 million shares) divided by average share price (note: the 54.985 million shares assumes the entire $373.75 million of 2028 Notes remains outstanding).Upon conversion, Infinera is required to repay the principal portion of the 2028 Notes in cash.

Contacts:

Media:		Investors:
Anna Vue		Amitabh Passi
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About Infinera        

Infinera is a global supplier of innovative open optical networking solutions that enable carriers, cloud operators, governments, and enterprises to scale network bandwidth, accelerate service innovation, and automate network operations. Infinera solutions deliver industry-leading economics and performance in long-haul, submarine, data center interconnect, and metro transport applications.