Belden Inc · NYSE:BDC
Belden — Merger or Acquisition (April 2026)
24 slides from Belden's merger presentation, Apr 30, 2026
Slide 1: Belden to Acquire RUCKUS Networks: Accelerating its Transformation into a Full-Stack Networking Solutions Provider
Belden to Acquire RUCKUS Networks: Accelerating its Transformation into a Full-Stack Networking Solutions Provider TRANSACTION ANNOUNCEMENT April 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements Our commentary and responses to your questions may contain forward-looking statements, including the closing of the acquisition and our outlook for the remainder of 2026 and beyond. Forward-looking statements include projections of sales, earnings, general economic conditi
Slide 3: Earnings & Strategy Highlights
Earnings & Strategy Highlights Ashish Chand President and Chief Executive Officer
Slide 4: Strong Start to 2026
Q1 2026 Key Messages Strong Start to 2026 Consistent execution drives above-guidance results Q1 2026 – Solid Quarterly Performance Highlights $ Millions Q1 2026 Q1 2025 YoY Revenue $696.4 $624.9 +11% Q1 Revenue and EPS above the high end of the guidance range Adj EBITDA1 $118.1 $104.0 +14% Adj EBITD
Slide 5: Delivering on Objectives
Belden Since our Solutions Transformation Delivering on Objectives Revenue (millions) 5% Delivered Consistent Financial Results: Grew Revenue at 5% CAGR $2,715 CAGR and Adjusted EPS2 at a 12% CAGR since 2019, with sustained $2,461 growth across revenue, EBITDA and EPS $1,998 Advanced Our Solutions T
Slide 6: Our Solutions Transformation Continues: Executing Clearly Defined Strategy
Our Solutions Transformation Continues Executing Clearly Defined Strategy 01 02 03 04 Growing portfolio of Advancing Enhancing Delivering long term best-in-class networking our Solutions growth with growth in earnings and & data products capabilities selective M&A FCF generation 6
Slide 7: Strategic Announcement
Strategic Announcement Ashish Chand President and Chief Executive Officer
Slide 8: A Major Step in Building the Most Complete IT/OT Networking Platform
A Major Step in Building the Most Complete IT/OT Networking Platform Acquiring Ruckus + Market leader in enterprise Wi-Fi and Delivers a complete IT/OT networking switching solution spanning core industrial and enterprise verticals, unique in the market 48,000+ customers globally across enterprise a
Slide 9: A Market Leader Across Verticals Aligned with Belden's Strategy
A Market Leader Across Verticals Aligned with Belden’s Strategy Business Highlights Technology Highlights Leading provider of enterprise wireless networking solutions delivering • Patented BeamFlex RF • Zero-Trust Security Built In purpose-built connectivity for high-density, mission-critical enviro
Slide 10: Accelerating IT/OT Convergence With Industry-Leading Wireless Networking Capabilities
Accelerating IT/OT Convergence With Industry- + Leading Wireless Networking Capabilities 1. Significant Growth Catalyst: RUCKUS adds industry-leading Wi-Fi and enterprise switching capabilities that directly strengthen Belden's solutions momentum across priority enterprise verticals, including hospi
Slide 11: RUCKUS Completes Belden's IT Layer to Capture IT/OT Convergence
RUCKUS Completes Belden's IT Layer to Capture IT/OT Convergence Compelling opportunity to extend best-in-class wireless and switching into Belden's industrial customer base and enterprise growth verticals including hospitality, education and healthcare Belden RUCKUS Combined Passive Products (Cables
Slide 12: Why Now: The Right Combination at the Right Time
Why Now: The Right Combination at the Right Time RUCKUS is at an Inflection Strong Strategic Fit Attractive Economics with Point Accelerates Value Creation Clear Path to De-levering • Years of investment in sales, • A comprehensive wired, wireless, • ~13x projected 2026 Adjusted technology and go-to
Slide 13: Financial Overview
Financial Overview Jeremy Parks Executive Vice President and Chief Financial Officer
Slide 14: RUCKUS Networks: Transaction Overview
RUCKUS Networks: Transaction Overview Purchase Price • $1.85 billion Consideration / • 100% cash paid at closing Financing • Belden has obtained fully committed debt financing from J.P. Morgan that provides the Company flexibility to optimize its permanent capital structure between signing and closi
Slide 15: A More Profitable, More Complete Business Immediately
A More Profitable, More Complete Business Immediately RUCKUS is accretive across every key financial metric Combined Pro-Forma 2025 Revenue reached $3.4 billion, by adding a high-margin active wireless networking business that • High-Single-Digit Revenue growth immediately and structurally improves
Slide 16: Strong Free Cash Flow Drives a Clear and Rapid Path to Quick De-levering
Strong Free Cash Flow Drives a Clear and Rapid Path to Quick De-levering The De-levering Math is Straightforward Combined Adjusted EBITDA base Year End 2026 ~3.6x net leverage of approximately $650M+ supports rapid de-levering Year End 2027 – First Full Year After Close ~2.9x net leverage Year End 2
Slide 17: Q&A
Q&A 17
Slide 18: Appendix
APPENDIX (@ Belden 1s
Slide 19: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Unaudited Three Months Ended March 29, 2026 March 30, 2025 In addition to reporting financial results in accordance with accounting principles (In thousands, except percentages and per share amounts) generally accepted in the United States, we provide non-GAAP ope
Slide 20: Reconciliation of Non-GAAP Measures (continued)
Reconciliation of Non-GAAP Measures (continued) Unaudited Three Months ended GAAP Non-GAAP Copper Pass- Acquisitions Foreign Through and March 29, March 30, Revenue Currency Pricing Divestitures Organic 2026 2025 Growth Impact Impact Impact Growth (In thousands, except percentages) Revenues $ 696,37
Slide 21: Reconciliation of Non-GAAP Measures (continued)
Reconciliation of Non-GAAP Measures (continued) Unaudited Trailing Twelve Months Ended December 31, December 31, December 31, In addition to reporting financial results in accordance with accounting 2019 2024 2025 principles generally accepted in the United States, we provide non-GAAP (In thousands,
Slide 22: Reconciliation of Non-GAAP Measures (continued)
Reconciliation of Non-GAAP Measures (continued) Unaudited Trailing Twelve Months Ended In addition to reporting financial results in accordance with accounting December 31, December 31, December 31, principles generally accepted in the United States, we provide non-GAAP 2019 2024 2025 operating resu
Slide 23: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Guidance Three Months Ended Our guidance is based upon information currently available June 28, 2026 regarding events and conditions that will impact our future operating results. In particular, our results are subject to the GAAP EPS $1.53 - $1.63 factors listed
Slide 24: Thank you
Thank you Aaron Reddington CFA Vice President Investor Relations investor.relations@belden.com