Bandwidth To Repurchase $100M Aggregate Principal Amount Of 2028 Notes; Repurchase Price Payable By Bandwidth Will Be Paid In Cash

Initially issued principal balance of $250 million notes due 2028 reduced to $150 million outstanding

RALEIGH, N.C., March 2, 2026 /PRNewswire/ -- Bandwidth Inc. (NASDAQ:BAND), a leading global enterprise cloud communications company, today announced that it has entered into separate, privately negotiated repurchase agreements with a limited number of holders of its 0.50% Convertible Senior Notes due 2028 (the "2028 Notes") to repurchase (the "Repurchases") $100 million aggregate principal amount of the 2028 Notes at a discount to par value. The repurchase price payable by Bandwidth will be paid in cash.

Coinciding with this announcement, Bandwidth's 0.25% Convertible Senior Notes due 2026 reached maturity on March 1, 2026 and are being fully retired with cash on hand resulting in Bandwidth no longer having convertible notes outstanding with maturities prior to April 1, 2028, further simplifying its capital structure and reducing its debt profile.

Bandwidth has previously entered into capped call transactions with certain financial institutions in connection with the 2028 Notes. All of these transactions are expected to remain in effect notwithstanding the Repurchases.

The Repurchases are expected to close on March 4, 2026, subject to the satisfaction of customary closing conditions. Following such closings, approximately $150 million principal amount of the 2028 Notes will remain outstanding, from an initial issued principal balance of $250 million.