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DASAN Zhone Solutions Announces Results of 2018 Annual Meeting and Updates Guidance for Full Year 2018 Net Revenue

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DASAN Zhone Solutions, Inc. (NASDAQ:DZSI, Company", )), a global
leader in fiber access transformation for enterprise and service
provider networks, announced the results of its Annual Meeting of
Shareholders held in Oakland on May 22, 2018. The Company is also
raising its net revenue guidance for the full year 2018, which ends
December 31, 2018. The revised net revenue guidance is driven by strong
execution and healthy industry conditions.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180530005202/en/

2018 Annual Meeting Results:

By a majority of the shareholder votes cast, the Company's nominee, Rolf
Unterberger, was elected as a new Director to serve a three-year term
expiring at the 2021 annual meeting.

"Rolf is an industry veteran with decades of success leading innovative
companies across the telecommunications and software services
industries," said Yung Kim, CEO of DASAN Zhone Solutions, Inc. "Rolf
brings a valued expertise in scaling businesses globally, having
developed extensive system integrators and partners ecosystem in Europe
and Asia in addition to his deep experience driving business growth in
the area of security-critical systems."

Additional results from the Annual Meeting are as follows:

  • Shareholders approved the re-election of current Director Sung-Bin
    Park to the Board to serve a three-year term expiring at the 2021
    annual meeting.
  • Shareholders approved the appointment of PricewaterhouseCoopers LLP as
    the Company's independent registered public accounting firm for the
    fiscal year ending December 31, 2018.
  • Shareholders approved the amendment to the 2017 Incentive Award Plan
    and approved the adoption of the 2018 Employee Stock Purchase Plan
    (ESPP).

2018 Business Outlook:

DASAN Zhone Solutions' Business Outlook is based on current
expectations. The following statements are forward-looking, and actual
results could differ materially based on market conditions and the
factors set forth under the "Forward-Looking Statements" below.

  • For the full year 2018, on a GAAP basis, the Company now expects net
    revenue in the range of $272 million to $280 million, or approximately
    10% to 13% year-over-year growth, compared to prior guidance of $265
    million to $270 million, or approximately 7% to 9% year-over-year
    growth.

"Our revised revenue outlook is driven by focused execution of our
strategy and continued momentum in our global markets, particularly in
our Southeast Asia region," said Michael Golomb, CFO of DASAN Zhone
Solutions, Inc. "We look forward to discussing the strong market
opportunity that we see at the Craig-Hallum institutional investor
conference later today and at the Cowen TMT conference tomorrow."

For additional information on the Craig-Hallum 15th Annual
Institutional Investor Conference and the Cowen and Company 46th
Annual Technology, Media & Telecom Conference or to schedule a
one-on-one meeting with DZS management, please contact the Company's
investor relations and strategic communications teams.

Forward-Looking Statements

This press release contains forward-looking statements that are subject
to the safe harbors created under the Securities Act of 1933 and the
Securities Exchange Act of 1934. Words such as "anticipate," "believe,"
"continue," "could," "estimate," "expect," "goal," "intend," "may,"
"plan," "project," "seek," "should," "target," "will," "would,"
variations of such words, and similar expressions are intended to
identify forward-looking statements. Readers are cautioned that actual
results could differ materially from those expressed in or contemplated
by the forward-looking statements. Factors that could cause actual
results to differ include, but are not limited to, commercial acceptance
of the Company's products; intense competition in the communications
equipment market; the Company's ability to execute on its strategy and
operating plans; and economic conditions. In addition, please refer to
the risk factors contained in the Company's SEC filings available at www.sec.gov,
including without limitation, the Company's annual report on Form 10-K,
quarterly reports on Form 10-Q and current reports on Form 8-K. Readers
are cautioned not to place undue reliance on any forward-looking
statements, which speak only as of the date on which they are made. The
Company undertakes no obligation to update or revise any forward-looking
statements for any reason.

About DASAN Zhone Solutions

DASAN Zhone Solutions, Inc. (NASDAQ:DZSI) is a global leader in network
access solutions for service provider and enterprise networks. The
company provides a wide array of reliable, cost-effective networking
technologies-including broadband access, Ethernet switching, Passive
Optical LAN, and software-defined networks-to a diverse customer base
that includes more than 1,000 of the world's most innovative network
operators. DASAN Zhone Solutions is headquartered in Oakland,
California, with operations in more than 20 countries worldwide.

DASAN Zhone Solutions, the DASAN Zhone Solutions logo, and DASAN Zhone
product names are trademarks of DASAN Zhone Solutions, Inc. Other brand
and product names are trademarks of their respective holders.
Specifications, products, and/or products names are all subject to
change without notice.

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