Non-cash goodwill impairment for the first quarter 2024 in an estimated
amount of $293 million; no impact on non-GAAP results and cash flow for the
first quarter 2024

EQS-Ad-hoc: Adtran Holdings, Inc. / Key word(s): Miscellaneous
Non-cash goodwill impairment for the first quarter 2024 in an estimated
amount of $293 million; no impact on non-GAAP results and cash flow for the
first quarter 2024

03-May-2024 / 23:24 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Ad-hoc notification pursuant to Article 17 of Regulation (EU) No. 596/2014

ADTRAN Holdings, Inc.: Non-cash goodwill impairment for the first quarter
2024 in an estimated amount of $293 million; no impact on non-GAAP results
and cash flow for the first quarter 2024

Huntsville, Alabama (United States of America). May 3, 2024 (CT)

In connection with the preparation of its consolidated financial statements
for the first quarter of 2024, ADTRAN Holdings, Inc. ("Company") today
determined that a material charge for impairment to goodwill will be
required for the first quarter of 2024. As a result, the Company expects to
record a material non-cash goodwill impairment on the carrying amount of
goodwill solely allocated to the Network Solutions segment in an estimated
amount of $293 million. The quantitative impairment assessment was triggered
as a result of factors such as a decrease in the Company's market
capitalization, cautious service provider spending due to economic
uncertainty and continued customer inventory adjustments.

The impairment leads to an increased GAAP operating loss for the first
quarter 2024 by the same amount. It will not, however, result in any current
or future cash expenditure and has no impact on the Company's GAAP revenue
and the non-GAAP operating margin guided for the first quarter 2024.
Additionally, the charge has no impact on the Company's compliance with
covenants under its credit agreement.

Cautionary Note Regarding Forward-Looking Statements

Statements contained in this ad hoc notification contain forward-looking
statements that are based on our management's beliefs and assumptions and on
information currently available to our management. Forward-looking
statements include, among other things, statements regarding the Company's
estimated goodwill impairment charge, the goodwill impairment's impact on
the Company's financial statements and financial guidance, and related
matters. Forward-looking statements include statements that are not
historical facts and can be identified by terms such as "anticipate,"
"believe," "could," "estimate," "expect," "intend," "may," "plan,"
"potential," "predict," "project," "seek," "should," "will," "would" or
similar expressions and the negatives of those terms. Our actual results and
the timing of events could materially differ from those anticipated in such
forward-looking statements as a result of certain risks and uncertainties
including risks relating to the final amount of our goodwill impairment
charge, its impact on our financial statements, and the risks described in
more detail in the Company's most recent Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q, as amended, and other documents on file with
the Securities and Exchange Commission. The Company disclaims and does not
undertake any obligation to update or revise any forward-looking statement
in this ad hoc notification, except as required by applicable law or
regulation.

Published by

Adtran Holdings, Inc.

www.adtran.com

For media

Gareth Spence

+44 1904 699 358

public.relations@adtran.com

Notifying person and contact for investors

Steven Williams

+49 89 890 665 918

investor.relations@adtran.com


End of Inside Information

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03-May-2024 CET/CEST The EQS Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

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   Language:       English
   Company:        Adtran Holdings, Inc.
                   901 Explorer Boulevard
                   35806 Huntsville
                   United States
   Internet:       www.adtran.com
   ISIN:           US00486H1059
   WKN:            892015
   Indices:        SDAX
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Munich, Stuttgart;
                   Nasdaq
   EQS News ID:    1895629

End of Announcement EQS News Service
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1895629 03-May-2024 CET/CEST