Completes financial restructuring with improved capital structure, eliminating $1.15B of debt and reducing associated cash interest payments by approximately $135M annually

Focused on delivering AI-powered UC & CX solutions to enterprises globally

Continues to provide customers with secure, reliable, and flexible hybrid communications

OTTAWA, Ontario, June 23, 2025–(BUSINESS WIRE)–Mitel Networks Corporation, (together with certain affiliates, “Mitel” or “the Company”), a global leader in business communications, today announced that it has successfully completed its financial restructuring to position the business for sustainable, long-term success.

As a result, Mitel has a significantly stronger balance sheet and capital structure, well-positioned to optimize its global operations and drive profitable and efficient growth. Through this process, the Company has reduced its debt by approximately $1.15B, reduced annual cash interest payments by approximately $135M, and raised approximately $125M of new funding in aggregate to support its go-forward operations. These improvements enhance Mitel’s financial flexibility and better enable the Company to execute its strategic priorities while continuing to meet customers’ needs.

This concludes the final phase of Mitel’s proactive efforts to right-size its capital structure and accelerate its strategy as a market leader. With a fortified balance sheet and 92% of organizations prioritizing hybrid*, Mitel’s strategy is focused on delivering hybrid innovation and AI capabilities that meet the rising enterprise demand. Serving more than 70 million users in over 100 countries, Mitel will continue to drive innovation that delivers everyday value to customers as they maximize the value of existing investments, adopt emerging technologies like AI, and address specialized requirements in the most demanding industries and geographies through a hybrid communications strategy.

“Today marks a fresh start for Mitel,” said Tarun Loomba, President and Chief Executive Officer of Mitel. “With the weight of legacy debt lifted, we are focused on accelerating our hybrid communications leadership. We have a portfolio designed to provide enterprise customers with secure, reliable, and modern communications solutions, and a strong financial position that will take us well into the future. We are excited to continue expanding workforce communications experiences and enhancements to vertical solutions for frontline workers, Mitel CX, and our jointly developed hybrid solution with Zoom throughout the year. We appreciate the continued trust of our employees, customers, partners, and vendors throughout this process and look forward to continuing to lead the way in unified hybrid communications for years to come.”