Reconciliation of Pro Forma1<\/sup> GAAP Operating Income<\/b><\/p>\n<\/td>\n<\/tr>\n to Adjusted EBITDA:<\/b><\/p>\n<\/td>\n $ in millions<\/i><\/p>\n<\/td>\n \nTwelve months ended<\/p>\n \nApril 30, 2026<\/p>\n<\/td>\n<\/tr>\n \nOperating income<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2.0<\/p>\n<\/td>\n<\/tr>\n \nAmortization of intangibles<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14.0<\/p>\n<\/td>\n<\/tr>\n \nDepreciation<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11.0<\/p>\n<\/td>\n<\/tr>\n \nRestructuring costs<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5.0<\/p>\n<\/td>\n<\/tr>\n \nCEO transition costs<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.0<\/p>\n<\/td>\n<\/tr>\n \nAdjusted EBITDA<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n34.0<\/p>\n<\/td>\n<\/tr>\n 1<\/sup>Pro forma results presented in the above table for the trailing twelve months ended April 30, 2026 represent the businesses being retained by Comtech, plus anticipated cost savings. The businesses being retained by Comtech include: Allerium, certain cyber-focused assets currently within the S&S segment and Unallocated.<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nTD Securities (USA) LLC is acting as exclusive financial advisor to Comtech on the Transaction. Norton Rose Fulbright is acting as legal advisor to Comtech on the Transaction and amendments to its credit agreements and convertible preferred stock agreements. Naschitz Brandes Amir is acting as legal advisor to Gilat on the Transaction. Quilty Space is acting as a business advisor to Gilat in connection with the Transaction.<\/p>\n \nThe Transaction concludes Comtech\u2019s previously announced strategic alternatives processes.<\/p>\n About Comtech<\/b><\/p>\n \nComtech Telecommunications Corp. delivers trusted mission-critical communications solutions used by military forces, government agencies, public safety organizations, mobile network operators and communities around the world. With nearly 60 years of global communications technology leadership, Comtech provides secure, resilient systems proven to perform in the world\u2019s most demanding environments. Through advanced satellite and space communications systems and Allerium\u2019s Next Generation 9-1-1 emergency services and location-intelligence platforms, Comtech delivers reliable connectivity across orbit, network and ground to keep essential missions, services and communities connected when it matters most. For more information, please visit comtech.com<\/a>.<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nCertain information in this press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “future,” “goal,” “outlook,” “intend,” “likely,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “strategy,” “target,” “will,” “would,” and similar references to future periods, or the negative of those words and expressions, as well as statements in future tense. Forward-looking statements include, among others, the expected completion of, the anticipated benefits of, and the Company\u2019s plans, strategies and objectives relating to, the pending transaction with Gilat Satellite Networks Ltd, the time frame in which such proposed transaction will occur, and the planned use of net proceeds received by the Company in connection with the proposed transaction, including the planned repayment of some or all of the Company\u2019s existing senior secured credit facility and subordinated debt. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by which, such performance or results will be achieved. Forward-looking information is based on information available at the time and\/or the Company\u2019s good faith belief with respect to future events, and is subject to risks and uncertainties that are difficult to predict and many of which are outside of the Company\u2019s control. Factors that could cause actual results to differ materially from current expectations include, among other things: the parties\u2019 ability to meet expectations regarding the timing, completion and accounting and tax treatments of the transaction, including changes in relevant tax and other applicable laws, and the occurrence of any event, change or other circumstance that could give rise to the termination of the transaction agreements; the risk that the proposed transaction may not be completed on the terms or in the time frame expected by the parties, or at all, including as a result of a delay or failure to obtain certain required regulatory approvals or the failure of any other condition to the closing of the transaction such that the closing of the transaction is delayed or does not occur; unexpected costs, liabilities or delays in connection with the proposed transaction; the significant transaction costs associated with the proposed transaction; negative effects of the announcement, pendency or consummation of the transaction on the market price of the Company\u2019s common stock or operating results, including as a result of changes in key customer, supplier, employee or other business relationships; the risk of litigation or regulatory actions; the Company\u2019s inability to retain and hire key personnel; and other factors described in this and the Company\u2019s other filings with the Securities and Exchange Commission (“SEC”), including the \u201cRisk Factors\u201d (Part I, Item 1A), \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d (Part II, Item 7) and \u201cQuantitative and Qualitative Disclosures about Market Risk\u201d (Part II, Item 7A) sections in the Company\u2019s Annual Report on Form 10-K filed with the SEC on November 10, 2025, as the same may be updated from time to time in the Company\u2019s various filings with the SEC. The Company does not intend to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise, except as required by law.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260615436494\/en\/<\/a><\/span><\/p>\n Investor Relations Contact Media Contacts\n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n <\/p>\n
\n<\/b>
Maria Ceriello
\n
631-962-7115
\n
Maria.Ceriello@comtech.com<\/a><\/p>\n
\n<\/b>
Jamie Clegg
\n
480-532-2523
\n
Jamie.Clegg@comtech.com<\/a><\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20260615436494\/en\/2831071\/3\/Comtech_logo_high-resolution.jpg\"){kind=logo}
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