• ** First quarter net sales increased 8% year-over-year for consolidated company **
• ** *Core CommScope first quarter net sales increased 10% year-over-year
• ** Momentum builds in Connectivity and Cable Solutions and Outdoor Wireless Networks as net sales increased 24% and 20% year-over-year, respectively **

First Quarter Highlights

• Net sales of $2.229 billion
• Core net sales of $1.733 billion*
• GAAP net loss of $139.9 million
• Non-GAAP adjusted EBITDA of $253.3 million
• Core adjusted EBITDA of $230.0 million*

• Cash flow used in operations of $(14.6) million and non-GAAP adjusted free cash flow of $(24.1) million

• References to certain supplementary “Core” financial measures reflect the results of the Connectivity and Cable Solutions, Outdoor Wireless Networks, Networking, Intelligent Cellular and Security Solutions and Access Network Solutions segments, in the aggregate. Core financial measures exclude the results and performance of the Home Networks segment. See the first quarter segment comparison tables below showing the aggregation of the Core financial measures.

HICKORY, NC, May 5, 2022 — CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, today reported results for the quarter ended March 31, 2022.

(1) “Core” financial measures reflect the results of the Connectivity and Cable Solutions, Outdoor Wireless Networks, Networking, Intelligent Cellular and Security Solutions and Access Network Solutions segments, in the aggregate. Core financial measures exclude the results of the Home Networks segment. See the first quarter segment comparison tables below showing the aggregation of the Core financial measures.

(2) See description of Non-GAAP Financial Measures and Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures below

“I am pleased to share that we delivered Core net sales of $1.73 billion and Core adjusted EBITDA of $230 million for the first quarter of 2022. We are encouraged by the strong top-line performance delivered by Core CommScope, growing net sales 10% from the prior year. While margins remained under pressure during the quarter, our CommScope team remains focused on the pricing initiatives that are underway to recover inflation, and we expect to see margin improvement for the Core portfolio in the second half of the year. Our growth is a testament to the solid demand we continue to see in many of our end markets and our dedication to advancing CommScope NEXT to strengthen our business,” said Chuck Treadway, President and Chief Executive Officer.

Treadway added, “Through the transformational initiatives of CommScope NEXT, we are committed to unlocking additional capacity for connectivity and cabling to fuel organic growth. In addition, we are driving growth through our investments in innovative products such as our NOVUX™ product line of fiber connectivity, our next- generation XGS-PON suite, MOSAIC™, ONECELL®, and DOCSIS® 4.0. As we continue to execute our strategy, we are enabling greater efficiency through our general management structure and new segment alignment to drive value for shareholders.”

“We are encouraged by the progress we have made on CommScope NEXT and are re-affirming our commitment to full year 2022 Core adjusted EBITDA between $1.15 - $1.25 billion,” said Kyle Lorentzen, Chief Financial Officer. “We are excited to see our recent actions and pending initiatives deliver improved performance through the remainder of the year. CommScope is well positioned to deliver on our top-line momentum and deliver sustained success over the near and long term.”

CommScope NEXT

In 2021, CommScope announced a transformation initiative called CommScope NEXT designed to drive shareholder value through three pillars: profitable growth, operational efficiency and portfolio optimization. As a step toward optimizing its portfolio through CommScope NEXT, as of January 1, 2022, the Company reorganized its internal management and reporting structure to align its portfolio of products and solutions more closely with the markets it serves and bring better performance clarity with its competitive peer set. As a result, the Company is reporting financial performance for the 2022 year based on the following operating segments: (i) Connectivity and Cable Solutions, (ii) Outdoor Wireless Networks, (iii) Networking, Intelligent Cellular and Security Solutions, (iv) Access Network Solutions and (v) Home Networks. All prior period amounts have been recast to reflect these operating segment changes.

Also as a step in the CommScope NEXT transformation plan, in 2021, the Company announced a plan to separate the Home Networks business via a spin-off transaction. Due to the impact of the uncertain supply chain environment on the Home Networks business, the Company delayed its separation plan, but it continues to analyze the financial results of its "Core" business separately from Home Networks. As such, in this comparison discussion, reference is made to certain supplementary Core financial measures, which reflect the results of the Connectivity and Cable Solutions, Outdoor Wireless Networks, Networking, Intelligent Cellular and Security Solutions and Access Network Solutions segments, in the aggregate. Core financial measures exclude the results of the Home Networks segment. These metrics represent the business segments as reported by CommScope. However, the ultimate definition of the Home Networks business that CommScope expects to separate may vary, and future results may differ materially.

COVID-19 Update

The negative impacts of COVID-19 on CommScope's financial performance have receded as the Company is seeing a recovery in demand for its products over the past year, but this has created negative indirect consequences such as inflation, shortages in materials and components and increased logistic costs. Prices for certain commodities that it uses have experienced significant volatility as a result of changes in the levels of global demand, supply disruptions and other factors. As a result, the Company has seen a significant increase in costs that has negatively impacted its results of operations. CommScope is also experiencing limited supply of memory devices, capacitors and silicon chips, which has increased its costs and has impacted its ability to deliver on a timely basis due to extended lead times. The Company is trying to mitigate the increasing component and logistics costs by implementing higher prices on its products and services. CommScope is also mitigating certain shortages by purchasing components in advance and maintaining higher levels of inventory or finding alternate vendors for some components. The Company believes the global supply chain challenges and their adverse impact on its business and financial results will persist, at least through the remainder of 2022, and may extend into periods thereafter.

First Quarter Results and Comparison

Net sales in the first quarter of 2022 increased 7.6% year-over-year to $2.23 billion. Core net sales increased 10.3% year-over-year primarily due to higher net sales in the Connectivity and Cable Solutions and Outdoor Wireless Networks segments.

Net loss of $(139.9) million, or $(0.75) per share, in the first quarter of 2022, increased 43.3% compared to the prior year period's net loss of $(97.6) million, or $(0.55) per share. Non-GAAP adjusted net income for the first quarter of 2022 was $64.4 million, or $0.26 per share, versus $88.3 million, or $0.36 per share, in the first quarter of 2021.

Non-GAAP adjusted EBITDA decreased 12.6% to $253.3 million in the first quarter of 2022 compared to the same period last year. Non-GAAP adjusted EBITDA as a percentage of net sales decreased to 11.4% in the first quarter of 2022 compared to 14.0% in the same prior year period. Core segment adjusted EBITDA decreased 14.9% to $230.0 million in the first quarter of 2022 compared to the same prior year period. Core segment adjusted EBITDA as a percentage of net sales decreased to 13.3% in the first quarter of 2022 compared to 17.2% in the same prior year period.

Reconciliations of the reported GAAP results to non-GAAP adjusted results can be found at https://ir.commscope.com/.

Connectivity and Cable Solutions

• Net sales of $838.0 million, increased 23.8% from the prior year period driven by growth in outdoor and indoor connectivity and cabling businesses.

Outdoor Wireless Networks

• Net sales of $390.1 million, increased 20.3% from the prior year period driven by growth across all businesses.

Networking, Intelligent Cellular and Security Solutions

• Net sales of $188.0 million, decreased 1.7% from the prior year period driven by a decline in RUCKUS Networks, partially offset by growth in DAS and Small Cell.

Access Network Solutions

• Net sales of $316.8 million, decreased 16.3% from the prior year period driven by declines across all product lines.

Home Networks

• Net sales of $495.7 million, decreased 1.1% from the prior year period primarily driven by declines in Video Solutions that were mostly offset by growth in Broadband Home Solutions.

Cash Flow and Balance Sheet

• GAAP cash flow used in operations was $(14.6) million.
• Non-GAAP adjusted free cash flow was $(24.1) million after adjusting operating cash flow for $27.4 million of additions to property, plant and equipment, $7.9 million of cash paid for restructuring costs and $10.0 million of cash paid for transaction, transformation and integration costs.
• Ended the quarter with $314.7 million in cash and cash equivalents.
• As of March 31, 2022, the Company had no outstanding borrowings under its asset-based revolving credit facility and had availability of $715.6 million, after giving effect to borrowing base limitations and outstanding letters of credit. The Company ended the quarter with total liquidity of approximately $1.03 billion.