AVIAT NETWORKS, INC.

Investors should carefully review and consider the information regarding certain factors which could materially affect our business, operating results, cash flows, and financial condition set forth under Item 1A, Risk Factors, in our fiscal 2025 Annual Report on Form 10-K filed with the SEC on September 10, 2025.

Other than as described below, there have been no material changes from the risk factors described in our Annual Report, although we may disclose changes to such factors or disclose additional factors from time to time in our future filings with the SEC. Additional risks and uncertainties not presently known to us or that we currently deem immaterial also may impair our business operations.

Negative reports, commentary, or publicity by short sellers, activist investors, or other third parties could harm our reputation and materially adversely affect our business and stock price.

We have and may again from time to time be the subject of negative publicity, commentary, or reports, including reports that may be published by short sellers, activist investors, or other third parties. Such reports have and may allege improper conduct, accounting irregularities, business weaknesses, or other concerns, and may be published without regard to the accuracy or completeness of the information contained therein. Even when allegations are unfounded, we have been and may be required to devote significant management time and resources to address such matters, and our reputation with customers, suppliers, employees, and investors may be harmed. In addition, such reports, commentary, or publicity could cause the market price of our common stock to decline significantly, increase trading volatility, and increase the risk of stockholder litigation or regulatory inquiries.