Forward-Looking Statements
This section of EXFO's website contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995,
and we intend that such forward-looking statements be subject to the safe harbors created thereby. Forward-looking statements are statements other
than historical information or statements of current condition. Words such as may, will, expect, believe, anticipate, intend, could, estimate, continue,
or the negative or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of
future events and circumstances are considered forward-looking statements. They are not guarantees of future performance and involve risks and
uncertainties. Actual results may differ materially from those in forward-looking statements due to various factors, including consolidation in the global telecommunications
test, measurement and monitoring industry; capital spending levels in the telecommunications, life sciences and high-precision assembly sectors;
concentration of sales; fluctuating exchange rates and our ability to execute in these uncertain conditions; the effects of the additional actions we
have taken in response to such economic uncertainty (including our ability to quickly adapt cost structures with anticipated levels of business and to manage inventory
levels with market demand); market acceptance of our new products and other upcoming products; limited visibility with regards to customer orders
and the timing of such orders; our ability to successfully integrate our acquired and to-be-acquired businesses; our ability to successfully expand
international operations; the retention of key technical and management personnel; and future economic, competitive, financial and market conditions, including any slowdown
or recession in the global economy. Assumptions relating to the foregoing involve judgments and risks, all of which are diffi cult or impossible to predict
and many of which are beyond our control. Other risk factors that may affect our future performance and operations are detailed in our Annual Report, on
Form 20-F, and our other filings with the U.S. Securities and Exchange Commission and the Canadian securities commissions. We believe that the expectations reflected
in the forward-looking statements are reasonable based on information currently available to us, but we cannot assure you that the expectations will
prove to have been correct. Accordingly, you should not place undue reliance on these forward-looking statements. These statements speak only as
of the date of this document. Unless required by law or applicable regulations, we undertake no obligation to revise or update any of them to reflect events or circumstances
that occur after the date of this document.