Slide 1: Investor Presentation May 2026
Investor Presentation May 2026
Slide 2: Legal disclaimer
Legal disclaimer This presentation includes forward-looking statements. All statements contained in this presentation other than statements of historical facts, including, without limitation, the success of our product offerings and our platform, and the value proposition of our products, and antici
Slide 3: Bandwidth: an attractive investment opportunity
321 Bandwidth: an attractive investment opportunity A global cloud communications leader in a large and growing market Orchestrating AI, voice, and messaging across cloud communications Proven business model delivering growth, profitability, and capital strength 3
Slide 4: A global cloud communications leader in a large and growing market
A global cloud communications leader in a large and growing market 4 1
Slide 5: Bandwidth powers mission-critical communications across three customer markets
Bandwidth powers mission-critical communications across three customer markets… 100% of the GartnerⓇ UCaaS1 and CCaaS2 platform Leaders The largest global enterprises High-volume messaging platforms and apps 1 UCaaS - Unified Communications as a Service. 2 CCaaS - Contact Center as a Service. 5
Slide 6: …and now, a leading CRM platform
6 …and now, a leading CRM platform Launches CRM as a new voice AI market Embeds Bandwidth in governed AI workflows Deepens our role as mission-critical infrastructure for AI-driven voice and messaging Salesforce selected Bandwidth as the critical infrastructure partner to power voice and messaging f
Slide 7: Bandwidth uniquely delivers the only global, owned and operated cloud communications platform
Bandwidth uniquely delivers the only global, owned and operated cloud communications platform Durable Customer Loyalty Trusted platform for hyperscalers and global enterprises → Sustained >99% customer retention Global Communications Infrastructure Owned network and regulatory licenses across nearly
Slide 8: Built for global mission-critical communications
Built for global mission-critical communications 30M+ 7,000+ Direct Carrier Connections 911 Endpoints 150B+ 55B+ Messages Every Year Minutes Each Year ~70 93%+ of the Global Economy Countries 8 Ultra-Low Latency Carrier-Grade Reliability Production AI At Scale Software Orchestration Award-Winning Su
Slide 9: Exceptional customer retention and loyalty
Exceptional customer retention and loyalty 9 99% Customer Name Retention 110% Net Retention Rate 1 12 years Top 20 Customer Median Tenure 1 Net retention rate of 110% excludes the benefit of political campaign messaging revenue in 2024. Note: Customer metrics as of March 31, 2026. See Appendix for d
Slide 10: A history of award-winning innovation
A history of award-winning innovation Best of Show Enterprise Connect—2023 Innovation in Customer Service Stevie Awards—2025 Best CPaaS Platform UC Awards—2024 Most Innovative Product CX Today—2023 Leader G2 10 Leader in Worldwide CPaaS-20251 Leader in Worldwide Communications Engagement Platforms 2
Slide 11: Orchestrating AI, voice, and messaging across cloud communications
Orchestrating AI, voice, and messaging across cloud communications 11 2
Slide 12: Bandwidth: critical infrastructure in the AI tech stack
Usage Model expands with Voice AI adoption Bandwidth: critical infrastructure in the AI tech stack Deeply embedded in governed workflows • Trust, compliance, and integrations built into the network Orchestration layer for AI-driven communications • Maestro connects AI agents across enterprise system
Slide 13: The orchestration layer for AI-driven enterprise communications
13 The orchestration layer for AI-driven enterprise communications… …With the world’s largest number of ecosystem integrations CCaaS UCaaS CRM Trust Conversational AI 911 Location Maestro connects the enterprise ecosystem
Slide 14: Bandwidth powers mission-critical voice
14 Genesys Genesys fuels global CX growth through AI-driven orchestration and its partnership with Bandwidth Five9 Five9 partners with Bandwidth to drive customer communication at a global scale for many of their products Bookline Bookline’s platform helps hospitality venues adopt conversational AI-
Slide 15: Bandwidth powers mission-critical messaging
Bandwidth powers mission-critical messaging 15 Attentive Retail and ecommerce leaders rely on Attentive for text message marketing Dental Intelligence Dental Intelligence helps practices boost profitability with smart SMS Jars Capital SMS fuels better resident communications in housing developments
Slide 16: Proven business model delivering growth, profitability, and capital strength
Proven business model delivering growth, profitability, and capital strength 16 3
Slide 17: Durable revenue growth
Durable revenue growth 17 (USD Millions) Cloud communications revenue2 Messaging surcharges3 1 Represents midpoint of guidance provided in the Financial Outlook section of the April 30, 2026 earnings press release. 2 Cloud communications revenue is total revenue less pass-through messaging surcharge
Slide 18: Expanding non-GAAP gross margin
Expanding non-GAAP gross margin Scale and AI adoption Software mix Global coverage Operational efficiencies Fueling gross margin expansion Note: We calculate non-GAAP gross margin by dividing non-GAAP gross profit by Cloud communications revenue, which is total revenue less pass-through messaging su
Slide 19: Accelerating profitability: Adjusted EBITDA growth
Accelerating profitability: Adjusted EBITDA growth 1 Represents midpoint of guidance provided in the Financial Outlook section of the April 30, 2026 earnings press release. Bandwidth has not reconciled full year 2026 guidance related to Adjusted EBITDA to GAAP Net income or loss, because stock-based
Slide 20: Deleveraging through strong cash flow generation
Deleveraging through strong cash flow generation 20 (USD Millions) 2021 2022 2023 2024 Q1’26 $ 650 $490 $425 $285 $150 13.1x1 14.2x1 8.8x1 3.5x1 1.5x1 Total Long-Term Debt Cash Flow 1 Long-term debt at respective balance sheet date, divided by the corresponding period’s TTM adjusted EBITDA 2021 2022
Slide 21: Compelling investment thesis
Compelling investment thesis A global cloud communications leader in a large and growing market Unique combination of software and global owned- and-operated network creates strong competitive moat Mission-critical infrastructure for enterprise AI-driven communications Healthy balance sheet and grow
Slide 22: We develop and deliver the power to communicate
22 We develop and deliver the power to communicate Voice Messaging Emergency Services AI
Slide 23: Appendix
Appendix (@ bandwidth »
Slide 24: GAAP to non-GAAP reconciliation - gross profit
GAAP to non-GAAP reconciliation - gross profit 1 Calculated by dividing Non-GAAP gross profit by revenue less pass-through surcharges of $98.6M in FY22, $122.2M in FY23, $208.7M in FY24, and $192.4M in FY25. Note: Totals may not sum due to rounding. USD millions FY22 FY23 FY24 FY25 Gross Profit 238.
Slide 25: Non-GAAP reconciliation: Adjusted EBITDA
1 Non-recurring items not indicative of ongoing operations and other include (i) $0.9 million of foreign currency losses on the settlement of intercompany borrowings, which were repatriated in conjunction with the repurchase of the 2026 Convertible Notes and $0.6 million of nonrecurring litigation e
Slide 26: Definitions
Definitions Adjusted EBITDA: Net income or losses from continuing operations, adjusted to reflect the addition or elimination of certain statement of operations items including, but not limited to: income tax (benefit) provision, interest (income) expense, net, depreciation and amortization expense,