Ciena Corporation · NYSE:CIEN
Ciena — Investor Day (September 2026)
17 slides from Ciena's investor day presentation, September 2026
Slide 1: Industry dynamics and the expanding market opportunity
Industry dynamics and the expanding market opportunity Industry dynamics and the expanding market opportunity David Rothenstein, Executive Vice President and Chief Strategy Officer Investor Forum - Ottawa - September 2026 © Ciena Corporation 2025. All rights reserved. Proprietary Information.
Slide 2: AI is creating a new era in communications
AI is creating a new era in communications 1990 20 Years 2010 15 Years 2025 10 Years 2035+ Massive Scale … Internet Era Cloud Era AI Era … Human – to – Human Human – to – Machine Machine – to – Machine AI Era Ubiquitous AI society Cloud Era Interactive Intelligence Networking for cloud Internet Era
Slide 3: Cloud Providers are the drivers of industry change
Cloud Providers are the drivers of industry change CP Capex forecast is accelerating rapidly Forecasting next year’s Capex has been challenging Start of ’26 $1.7T 800 Now $1.6T Actual Spend 700 Now $1.2T Start of ‘26 $1.25T 600 Start of ’26 $1.1T Neoscalers 500 2028 Estimate $B published 400 in 2025
Slide 4: Data generation, bandwidth and AI workloads are growing rapidly
Data generation, bandwidth and AI workloads are growing rapidly Global Data Generation Data Moved by SPs Data Center Bandwidth Network Bandwidth AI Workloads 600 25 100 2.0 100 2026 Forecast 2026 Forecast 2026 Forecast Inference 500 AI-related = 80 20 1.5 80 +35% 400 15 60 X2 60 ZB Eb/s Eb/s 1.0 300
Slide 5: And we believe we are only at the beginning
And we believe we are only at the beginning INFERENCE Inference follows users first to the region, and then ~ 40% of workloads to the metro and the edge - becoming the dominant by 2030 driver of global bandwidth TRAINING Bandwidth Expansion Distributed training (Scale Across) expands ~ 30% of worklo
Slide 6: AI is changing fundamental units of scale
AI is changing fundamental units of scale Data Center is the new unit of Fiber Rail is the new unit of GPU Cluster Expansion COMPUTE CAPACITY Energy Processor Unit Consumed Wavelength (~ 100s TFLOPs) (~ 1 Tbps) Gigawatts Rack Megawatts ‘24 ‘25 ‘26 ‘27 Fiber (~100s xPUs) Time (~ 100 Wavelengths) Thou
Slide 7: These dynamics will drive significant growth in Ciena's TAM
These dynamics will drive significant growth in Ciena’s TAM ~$52B ~24% $27B 3-YEAR CAGR 2026 2029 Source: Market forecasts from Cignal AI, Dell’Oro, LightCounting, Omdia & 650 Group, with Ciena internal analysis We project the total addressable market for our business to effectively double over the
Slide 8: AI dynamics are creating new market opportunities
AI dynamics are creating new market opportunities Traditional Network Markets (WAN) AI-WAN Access & Metro / Long DCI / Long Distributed DCI mesh Aggregation Regional Distance Distance training Front-end Back-end Front-end fabric fabric fabric Cloud AI Training AI Inference Inside the Data Center In
Slide 9: Large-scale AI investment is impacting traditional network markets
Large-scale AI investment is impacting traditional network markets Traditional NETWORK markets (WAN) AI-WAN Inside DATA CENTER markets Network Network Network Network Fabric Fabric Fabric Data Center OPERATIONS EDGE BACKBONE DCI SCALE ACROSS SCALE OUT SCALE UP OPERATIONS Automation QoS Fiber Service
Slide 10: AI is spilling out of the Data Center into an AI-WAN
AI is spilling out of the Data Center into an AI-WAN Traditional NETWORK markets (WAN) AI-WAN Inside DATA CENTER markets Network Network Network Network Fabric Fabric Fabric Data Center OPERATIONS EDGE BACKBONE DCI SCALE-ACROSS SCALE OUT SCALE UP OPERATIONS Automation QoS Fiber Services Inference Tr
Slide 11: Large-scale AI investment is creating new DC markets
Large-scale AI investment is creating new DC markets Traditional NETWORK markets (WAN) AI-WAN Inside DATA CENTER markets Network Network Network Network Fabric Fabric Fabric Data Center OPERATIONS EDGE BACKBONE DCI SCALE ACROSS SCALE-OUT SCALE-UP OPERATIONS Automation QoS Fiber Services Inference Tr
Slide 12: Ciena's TAM will grow significantly across these markets
Ciena’s TAM will grow significantly across these markets Traditional NETWORK markets (WAN) AI-WAN Inside DATA CENTER markets Network Network Network Network Fabric Fabric Fabric Data Center OPERATIONS EDGE BACKBONE DCI SCALE-ACROSS SCALE-OUT SCALE-UP OPERATIONS Total Addressable Market Inside Data C
Slide 13: Our strategic portfolio investments extend across these markets
Our strategic portfolio investments extend across these markets Traditional NETWORK markets (WAN) AI-WAN Inside DATA CENTER markets Network Network Network Network Fabric Fabric Fabric Data Center OPERATIONS EDGE BACKBONE DCI SCALE-ACROSS SCALE-OUT SCALE-UP OPERATIONS Service Providers Cloud Provide
Slide 14: Our portfolio can be categorized into product groupings
Our portfolio can be categorized into product groupings Traditional NETWORK markets (WAN) AI-WAN Inside DATA CENTER markets Network Network Network Network Fabric Fabric Fabric Data Center OPERATIONS EDGE BACKBONE DCI SCALE-ACROSS SCALE-OUT SCALE-UP OPERATIONS OPTICAL SYSTEMS Navigator Optical Netwo
Slide 15: Ciena's TAM growth is driven heavily by Optical Systems and Interconnects
Ciena’s TAM growth is driven heavily by Optical Systems and Interconnects Traditional NETWORK markets (WAN) AI-WAN Inside DATA CENTER markets Network Network Network Network Fabric Fabric Fabric Data Center OPERATIONS EDGE BACKBONE DCI SCALE-ACROSS SCALE-OUT SCALE-UP OPERATIONS Total Addressable Mar
Slide 16: Our overall strategy and today's agenda is focused on Scale
Our overall strategy – and today's agenda – is focused on Scale David Rothenstein Industry dynamics and the expanded market opportunity Strategy Brodie Gage Scale the portfolio by Products & Technology • innovating in high-speed connectivity technology for the core Optical Systems business Dino DiPe
Slide 17: Thank you
Thank you Thank you Investor Forum - Ottawa - September 2026 © Ciena Corporation 2025. All rights reserved. Proprietary Information.