Forward Looking Statements Statements in these presentation slides and related webcast concerning Juniper Networks’ business, economic, industry and mar ket outlook, trends and opportunity; 2016 and long-term financial model; competitive landscape; product portfolio and success of particular products and product families; the contribution of new products to our revenues; future financial and operating results, strategies and ability to deliver revenue, earnings and margin growth; expected drivers of growth; revenue diversification and expected vertical, geographical and technology mix; expected cash flows; improvements to our cost structure and expense reductions and management; innovation pipeline; capital structure; capital return program, including future dividends, dividend growth and share repurchases and our intent to target a return of 50% of our annual free cash flow (through dividends and buybacks) beyond 2016; GTM and innovation strategies; and overall future prospects are forward- looking statements within the meaning of the Private Securities Litigation Reform Act that involve a number of uncertainties and risks. Actual results or events could differ materially from those anticipated in those forward-looking statements as a result of several factors, including: general economic and political conditions globally or regionally; business and economic conditions in the networking industry; changes in overall technology spending and spending by communication service providers and major customers; the network capacity requirements of communication service providers; contractual terms that may result in the deferral of revenue; increases in and the effect of competition; the timing of orders and their fulfillment; issues resulting from the transition to our new ERP system; manufacturing and supply chain constraints, changes or disruptions; availability of key product components; ability to establish and maintain relationships with distributors, resellers and other partners; variations in the expected mix of products sold; changes in customer mix; changes in geography mix; customer and industry analyst perceptions of us and our technology, products and future prospects; delays in scheduled product availability; market acceptance of our products and services; rapid technological and market change; adoption of regulations or standards affecting our products, services or the networking industry; the ability to successfully acquire, integrate and manage businesses and technologies; product defects, returns or vulnerabilities; the ability to recruit and retain key personnel; significant effects of tax legislation and judicial or administrative interpretation of tax regulations; currency fluctuations; litigation settlements and resolutions; the potential impact of activities related to the execution of capital return and product rationalization; and other factors listed in Juniper Networks’ most recent report on Form 10 -K and subsequent report on Form 10-Q filed with the Securities and Exchange Commission. All statements contained in these presentations and related webcast are made only as of the date set forth at the beginning of this presentation. Juniper Networks undertakes no obligation to update the information contained in these slides and related webcast in the event facts or circumstances subsequently change. Use of Non-GAAP Financial Measures These presentation slides contains references to the following non-GAAP financial measures: revenue, operating margin; gross margin; earnings per share; operating expenses as a percentage of revenue; and free cash flow. For important commentary on why Juniper Networks considers non-GAAP information a useful view of the company’s financial results, please refer to the supplemental information posted on the “Investor Relations” section of our website at http://investor.juniper.net/investor- relations/default.aspx . With respect to future financial guidance provided on a non-GAAP basis, we have excluded estimates for amortization of intangible assets, share-based compensation expenses, acquisition-related charges, restructuring and other (benefits) charges, impairment charges, professional services related to non-routine stockholder matters, litigation settlement and resolution charges, gain or loss on equity investments, retroactive impact of certain tax settlements, non- recurring income tax adjustments, valuation allowance on deferred tax assets, and the income tax effect of non-GAAP exclusions. These measures are not presented in accordance with, nor are they a substitute for U.S. generally accepted accounting principles or GAAP. In addition, these measures may be different from non-GAAP measures used by other companies, limiting their usefulness for comparison purposes. The non-GAAP financial measures used in these slides should not be considered in isolation from measures of financial performance prepared in accordance with GAAP. Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. In particular, many of the adjustments to our GAAP financial measures reflect the exclusion of items that are recurring and will be reflected in our financial results for the foreseeable future. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis due to the high variability and low visibility with respect to the charges which are excluded from these non-GAAP measures.
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Forward Looking StatementsStatements in these presentation slides and related webcast concerning Juniper Networks’ business, economic, industry and market outlook, trends and opportunity; 2016 and long-term financial model; competitive landscape; product portfolio and success of particular products and product families; the contribution of new products to our revenues; future financial and operating results, strategies and ability to deliver revenue, earnings and margin growth; expected drivers of growth; revenue diversification and expected vertical, geographical and technology mix; expected cash flows; improvements to our cost structure and expense reductions and management; innovation pipeline; capital structure; capital return program, including future dividends, dividend growth and share repurchases and our intent to target a return of 50% of our annual free cash flow (through dividends and buybacks) beyond 2016; GTM and innovation strategies; and overall future prospects are forward-looking statements within the meaning of the Private Securities Litigation Reform Act that involve a number of uncertainties and risks. Actual results or events could differ materially from those anticipated in those forward-looking statements as a result of several factors, including: general economic and political conditions globally or regionally; business and economic conditions in the networking industry; changes in overall technology spending and spending by communication service providers and major customers; the network capacity requirements of communication service providers; contractual terms that may result in the deferral of revenue; increases in and the effect of competition; the timing of orders and their fulfillment; issues resulting from the transition to our new ERP system; manufacturing and supply chain constraints, changes or disruptions; availability of key product components; ability to establish and maintain relationships with distributors, resellers and other partners; variations in the expected mix of products sold; changes in customer mix; changes in geography mix; customer and industry analyst perceptions of us and our technology, products and future prospects; delays in scheduled product availability; market acceptance of our products and services; rapid technological and market change; adoption of regulations or standards affecting our products, services or the networking industry; the ability to successfully acquire, integrate and manage businesses and technologies; product defects, returns or vulnerabilities; the ability to recruit and retain key personnel; significant effects of tax legislation and judicial or administrative interpretation of tax regulations; currency fluctuations; litigation settlements and resolutions; the potential impact of activities related to the execution of capital return and product rationalization; and other factors listed in Juniper Networks’ most recent report on Form 10-K and subsequent report on Form 10-Q filed with the Securities and Exchange Commission. All statements contained in these presentations and related webcast are made only as of the date set forth at the beginning of this presentation. Juniper Networks undertakes no obligation to update the information contained in these slides and related webcast in the event facts or circumstances subsequently change.
Use of Non-GAAP Financial MeasuresThese presentation slides contains references to the following non-GAAP financial measures: revenue, operating margin; gross margin; earnings per share; operating expenses as a percentage of revenue; and free cash flow. For important commentary on why Juniper Networks considers non-GAAP information a useful view of the company’s financial results, please refer to the supplemental information posted on the “Investor Relations” section of our website at http://investor.juniper.net/investor-relations/default.aspx. With respect to future financial guidance provided on a non-GAAP basis, we have excluded estimates for amortization of intangible assets, share-based compensation expenses, acquisition-related charges, restructuring and other (benefits) charges, impairment charges, professional services related to non-routine stockholder matters, litigation settlement and resolution charges, gain or loss on equity investments, retroactive impact of certain tax settlements, non-recurring income tax adjustments, valuation allowance on deferred tax assets, and the income tax effect of non-GAAP exclusions. These measures are not presented in accordance with, nor are they a substitute for U.S. generally accepted accounting principles or GAAP. In addition, these measures may be different from non-GAAP measures used by other companies, limiting their usefulness for comparison purposes. The non-GAAP financial measures used in these slides should not be considered in isolation from measures of financial performance prepared in accordance with GAAP. Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. In particular, many of the adjustments to our GAAP financial measures reflect the exclusion of items that are recurring and will be reflected in our financial results for the foreseeable future.
A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis due to the high variability and low visibility with respect to the charges which are excluded from these non-GAAP measures.
Delivering Growth by Helping Customers Win
Vince Molinaro | Chief Customer Officer
May 17, 2016
Customer Landscape Drives GTM Alignment
GTM FocusCustomer Needs
AGILITY
Software
& Cloud
Innovation
Collaborate
to bring to new
services to market
Profitable Growth, Agile
Service Delivery &
Reduced Risk
INNOVATION
Open
Ecosystem
Embrace
Partner Ecosystem
for Open & Continuous
Innovation
Reduced Churn &
Enhanced Customer’s
Customer Experience
SPEED
Process
Automation
Disrupt
the Economics
of Networking
with Automation
Reduced
Cost & Improved
Time to Revenue
Customer Outcomes
GTM Strategy Remains Consistent
Vertically
Aligned
Solutions &
Services-led
Enhanced
Coverage &
Capabilities
with Partners
Integrated
Marketing
From Brand to
Demand
Measures of Success - 2015
Revenue Growth
Revenue Diversity
Customer Satisfaction
Customer Retention
Sales Team Productivity
Total Cost of Sales
We’re Vertically Aligned, Customer Centric
TELECOM CABLE/MSO CLOUD
PROVIDERS
FINANCIAL
SERVICES
NATIONAL
GOVERNMENT
STRATEGIC
ENTERPRISE
VERTICALS
AMERICAS APAC EMEA
Customers
Account-based
Marketing
InsideSalesRep
SalesOps
Functional Expertise
CTOSE
Leader
Service Leader
Strategy and
Bus Dev
AELeader
ManagedServicesLeader
PLMPartnerAlliance
PartnerLeader
Customer Team Leader
BY ACCOUNT
BY VERTICAL
BY GEOGRAPHY
• Deep Customer Engagement
• Improved E2E Customer Experience
• Focused Skills and Expertise
• Total Lifecycle Engagement
• Increased Customer Loyalty
CustomerTeam Model
Partners Enhance Coverage & Capabilities
Account-based
Marketing
InsideSalesRep
SalesOps
Functional Expertise
CTOSE
Leader
Service Leader
Strategy and
Bus Dev
AELeader
ManagedServicesLeader
PLMPartnerAlliance
PartnerLeader
Customer Team Leader
Juniper Customer Team Model Juniper Strategic Alliances Juniper Partner Advantage
Elite
Select
Reseller
Products
Commercial Engine
Dis
trib
uto
r
Services Software
Juniper & Partner Ecosystem
Pro
gra
ms
& E
na
ble
me
nt
Alliance PartnerLeader
Integrated Solutions
Our Partner Solutions AccelerateCustomer’s Transformation…
+Global & Local Systems
Integrators
Managed
Cloud
Services
Cloud
CPE/NFV
Data
Center
Mobility
& Mobile
Backhaul
Our Customer Support andServices Transformation
30%
25%
Post sales support
Main customer
base -Tier 1
service providers
Pre-sale design +
post sales support
growth in cloud
provider customers
Full life cycle
support in
Cloud SDN, Contrail
and NFV
BREAK FIX
HARDWARE
ARCHITECTURE &
CLOUD TRANSITION
WINNING
IN THE CLOUD
2012 2014 2016
25%
20%
15%
10%
5%
0%
2012 2014 2016 Est
26%
~27%
Support & Services % of Total Juniper
Support & Services Revenue Mix
Note: 2012 and 2014 have been normalized for the divestiture of Junos Pulse
Technology + PS Drives Business ValueP
rod
uct V
alu
eB
usin
ess V
alu
e
Drive Business
Innovation
AdvancedBusiness
Consulting
Integration
NetworkDeployment
NetworkOperations
PricingPurchase
NetworkTransformation
Cloud Innovation | Disaggregation | Security
Customer Business Value - Economics, Agility, Relevance
Service-led & Business ModelTransformation
Serv
ice C
reatio
n
Busin
ess P
lannin
g
Econom
ic A
naly
sis
OS
S/D
C C
loud
Assessm
ent
Netw
ork
Desig
n
Pilo
t/F
ield
Te
st
Turn
key/M
igra
tio
n
Netw
ork
Auto
matio
n,
Inte
gra
tio
n &
Te
st
Secu
rity
Campus & Branch
Access & Aggregation
Edge and Core
Data Center
Data Center Transformation
Cloud-Delivered Services
Automation & Virtualization
Operations Transformation
Security
Switching, Routing & Security
Contrail, CSO , vSRX, vMX
Open Partner Stacks and Alliance Solutions
Software, Systems & Silicon
Juniper Development& Innovation
A GLOBAL ONLINE RETAILER
Support multiple international clients and improve time to
market with new features, services and customer
campaigns
Business Challenge
Datacenter redesign to enable
cloud & virtualized services with
an open & agile SDN solution
and spine leaf switch network—
to power processes and ensure
performance reliability
Customer Initiative1
Validation of service creation
plans, architectural design and
Contrail network automation,
integration and testing services
Professional Services2
• Contrail Networking &
Contrail Cloud Platform
• QFX5100 Switch
Technology Solution3
“… we can build and deploy new business services faster.
Businesses can be more agile and cost efficient,” John
Donovan, senior executive vice president, AT&T Technology
and Network Operations.
" a highly trusted partner who helps us to deliver the best
possible customer experience."
-Detlef Schultz, supply chain mgm’t director at Vodafone
It’s Working - Across The Verticals
TELECOM CLOUD FINANCIAL SERVICES
CABLE NATIONAL GOVERNMENTSTRATEGIC ENTERPRISE
VERTICALS
"The Juniper solution has given us a flexible operating environment with powerful automation capabilities. It realy is a data center platform for the future”… - Emanuele Landini, Networks Operations Manager SIA
…” The combination of equipment and
connectivity services also allows VARs to
design fully baked solutions for customers that
can beat out other solution providers who
don't bundle the two,” - Tim Kennedy, vp of
carrier services for Carousel Industries, an elite
Juniper partner.
““…We have been incredibly impressed with the
performance, ease-of-use and reliability of the
data center we built in partnership with Juniper
Networks….”
- Jim Foley, chief technology officer at Joe Gibbs
Racing
“…partnered with Juniper Networks to deliver the
switching solution needed to enable an efficient,
high performance and open network." - Scott
Ormiston , Director of Solutions Architecture,
Affigent
“…the Juniper Networks solution enables us to
provision cloud service delivery environments
without complex network configuration…“
– Junpei Yoshino, senior network engineer
XFLAG™ STUDIO, mixi Inc
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