Sandell Notes Expiration of Standstill Period at Viavi Solutions Inc.

Investor Intends to Continue Constructive Dialogue with the Company and Initiate Discussions with Third-Parties with View towards Increasing Shareholder Value

NEW YORK--(BUSINESS WIRE)-- Sandell Asset Management Corp. (“Sandell”), a long-time shareholder of Viavi Solutions Inc. (“Viavi” or the “Company”, and formerly JDS Uniphase Corporation) (NASDAQ: VIAV), today noted that the Standstill Period (the “standstill”) in the Settlement Agreement between Sandell and Viavi expired on July 20, 2016. As such, Sandell intends to continue to engage in discussions with the Company, as well as initiate discussions with additional third-parties, with a view towards increasing shareholder value at Viavi. Sandell has enjoyed the constructive dialogue that it has had with the Company over the last year and intends to remain actively engaged in enhancing value for the benefit of all shareholders.

About Sandell Asset Management Corp.

Sandell Asset Management Corp. is a leading private, alternative asset management firm specializing in global corporate event-driven, multi-strategy investing with a strong focus on equity special situations and credit opportunities. Sandell Asset Management Corp. was founded in 1998 by Thomas E. Sandell and has offices in New York and London, including a global staff of investment professionals, traders and infrastructure specialists.

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Sandell Asset Management Corp.
Adam Hoffman, 212-603-5814
or
Okapi Partners LLC
Bruce Goldfarb, 212-297-0722
or
Lisa Patel, 212-297-0720
or
Sloane & Company
Dan Zacchei, 212-446-1882

Source: Sandell Asset Management Corp.

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