1. 5-year Total Shareholder Return Performance
Spirent vs FTSE TechMARK 100* and FTSE 250
*excluding FTSE100 companies

2. Spirent Accomplishments
 Established Spirent as the #1 or #2 market share leader across each of its market segments
 Delivered best in class financial results within the test & measurement industry
 Grew revenue, operating profit, EPS and dividend every year from 2008 through 2012
 Increased Return on Sales from 10.8% in 2007 to 25.3% in 2012
 Generated Free Cash Flow ranging from $74M to $86M each year from 2008 through 2012
 Significantly outperformed FTSE 250 & FTSE TechMARK 100 index in Total Shareholder Return from 2008 through 2012 – See the
attached chart.
 Returned $210M to shareholders via share buybacks while retaining $250M for strategic acquisitions – 2008 through 2012
 Increased share price from 54 pence in January 2008 to a high of 174 pence in April 2012
 Scaled new product revenue across each division including:
 The most successful test & measurement solution on the market today, Spirent TestCenter, growing revenue to $140M,
representing 25% annual growth
 Diversified and transitioned the wireless test solutions portfolio from CDMA to UMTS and 4G LTE, growing revenue from $27M in
2007 to $160M in 2012
 Grew profitability at Service Assurance by focusing investments on Ethernet and in-home field test
 Grew recurring Services bookings from $75M in 2008 to $155M in 2012
 Expanded Spirent’s addressable market through organic investments and strategic acquisitions
 Organically entered into new markets with a strategic focus on diversifying Spirent’s solutions portfolio including: Wireless Device
R&D and Enterprise
 Acquired Fanfare in February 2011 to increase value to customers through lab test automation software
 Acquired Mu Dynamics to expand Spirent’s existing cybersecurity and application test offerings and to enter the cloud ‘Testing as a
Service’ market in May 2012
 Acquired Metrico test services business in September 2012 focused on Wireless Quality of Experience