<p>➀ The Q4 Optical Transport equipment market grew approximately 45% y-o-y, despite the full-year market falling 13%;</p><p>➁ Dell’Oro’s VP Jimmy Yu suggests that the strong fourth quarter growth indicates near equilibrium in supply and demand;</p><p>➂ The market outside of China grew about 35% sequentially in 4Q 2024, with North America experiencing a third consecutive quarter of revenue increase.</p>