Bandwidth Inc. has entered into privately negotiated agreements to repurchase approximately $100 million aggregate principal amount of its 0.50% Convertible Senior Notes due 2028. The repurchase price will be paid in cash, and the transactions are expected to close on March 4, 2026. Following the repurchase, approximately $150 million principal amount of the 2028 Notes will remain outstanding, down from an initial issued principal balance of $250 million. The company's 0.25% Convertible Senior Notes due 2026 matured on March 1, 2026, and were fully retired using cash on hand, eliminating all convertible notes with maturities prior to April 1, 2028. Capped call transactions related to the 2028 Notes are expected to remain in effect despite the repurchases. This action is part of a balanced capital allocation strategy, which also includes planned record levels of investment in AI innovation and an $80 million share repurchase program.