Avaya Discloses Certain Information Related to Ongoing Constructive Discussions with Financial Stakeholders

Avaya Holdings Corp. (NYSE: AVYA) ("Avaya" or "the Company") publicly disclosed certain business information that it confidentially shared with certain of its financial stakeholders. This information was shared in connection with ongoing constructive discussions Avaya is having with its financial stakeholders regarding a comprehensive resolution to strengthen the Company’s balance sheet and position the business for long-term success.

Alan Masarek, Avaya’s Chief Executive Officer, said, “We are pleased to remain engaged in constructive discussions with all of our financial stakeholders to enhance our capital structure, increase liquidity and accelerate our investment in innovative products and solutions. Avaya benefits from an iconic brand, massive partner ecosystem and a truly global footprint, and we are confident the steps we are taking are in the best interest of our business and our stakeholders.”

Avaya announced today that Jill Frizzley has been appointed to its Board of Directors, effective immediately. Ms. Frizzley is a corporate governance expert with over two decades of experience serving on boards and advising on financial restructuring and mergers and acquisitions. Ms. Frizzley was nominated to Avaya’s Board by RingCentral, pursuant to their strategic partnership. The Company remains committed to a strategic partnership with RingCentral.

“I look forward to working closely with Jill and benefitting from her deep expertise as we continue taking steps to strengthen Avaya for long-term success,” added Mr. Masarek.

Additional information is available in a Current Report on Form 8-K Avaya filed today with the U.S. Securities and Exchange Commission (“SEC”).