EFTA Document EFTA01452987

2 March 2014 Wireless Equipment Signals to Noise (S2N) Our key insight on F5 is our higher conviction on the company's next-phase growth opportunities in Telco Network Intelligence and Next-Gen Security use cases, as we highlight below: Telco Network Intelligence: Field color from our MWC industry meetings correlate well with our recent round of IT channel conversations - which note that F5's +2 years of R&D and sales cycle investment at the major telcos (e.g. Verizon. AT&T. Vodafone, T