Harmonic Completes Divestiture of Video Business to Media...

Transaction Positions Harmonic as a Pure-Play Broadband Company

Harmonic Inc. (NASDAQ: HLIT), the worldwide leader in virtualized broadband solutions, today announced the successful completion of the sale of its Video Business to MediaKind, a global leader in cloud-based video streaming technology, for $145 million in cash. The purchase consideration is subject to net working capital and other customary post-closing adjustments. The transaction marks a defining milestone in the company's strategic transformation into a leading pure-play broadband innovator and underscores its commitment to maximizing lasting shareholder value.

The divestiture of the Video Business accelerates Harmonics long-term growth strategy by concentrating the companys resources, capital and operational expertise on its virtualized broadband segment the fastest-growing business within its portfolio. This transaction also delivers a significant capital infusion to Harmonic, strengthening the company's balance sheet and providing additional financial flexibility to invest in innovation, further expand its customer base and pursue growth opportunities in the broadband industry.

The completion of this transaction is a pivotal moment for Harmonic, said Nimrod Ben-Natan, President and Chief Executive Officer of Harmonic. We now turn our full focus and capital toward broadband, where our established footprint with the worlds largest operators positions us as a leader in the industrys shift to virtualized software-defined broadband networks powered by intelligence capabilities. We are proud of the exceptional work our Video Business has accomplished and are confident they will continue to deliver the same innovation and dedication as a part of MediaKind.

Harmonic also announced it will host an Investor Day event in New York City on September 15, 2026, offering a detailed look at the company's core technologies, innovation and growth outlook. The hybrid event will include limited in-person attendance by invitation only and a live webcast available on Harmonics Investor Relations website. Additional details will be provided in a subsequent announcement closer to the event.

Harmonic is the market share leader in cable broadband equipment, virtual CMTS and DAA, according to Dell'Oro Group, the trusted source for market information about the telecommunications, networks and data center IT industries. Harmonic's market-leading cOS platform powers next-gen broadband services through nearly 46 million CPE devices worldwide for leading operators in North America, Europe, Latin America and Asia. More information about Harmonic and the company's solutions is available at www.harmonicinc.com.

Link to Word Doc: www.202comms.com/Harmonic/260617-Harmonic-Mediakind.docx

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