November 16, 2016

Q1 Fiscal Year 2017 Conference Call

FORWARD-LOOKING STATEMENTS This presentation contains projections and other forward-looking statements regarding future events or the future financial performance of Cisco, including future operating results. These projections and statements are only predictions. Actual events or results may differ materially from those in the projections or other forward-looking statements. Please see Cisco’s filings with the SEC, including its most recent filing on Form 10-K, for a discussion of important risk factors that could cause actual events or results to differ materially from those in the projections or other forward-looking statements.

GAAP RECONCILIATION During this presentation references to financial measures of Cisco will include references to non-GAAP financial measures. Cisco provides a reconciliation between GAAP and non-GAAP financial information on our website at www.cisco.com under “Financial Info” in the “Investor Relations” section. http://investor.cisco.com/investor-relations/financial-information/Financial-Results/default.aspx

Business Momentum & Key Trends

Financial Overview

Business Outlook

Q&A

Q1 FY 2017 Highlights

• Delivered strong Q1 and executed very well: revenue growth of 1% y/y* and non-GAAP EPS growth of 3% y/y* with continued strength in non-GAAP gross and operating margins

• Total product orders declined 2% y/y*, largely due to Service Provider orders declining 12% y/y*

• Continue to show great progress in how we are aligning our business model to the way our customers want to consume Cisco technology…48% y/y growth in our product deferred revenue relating to our recurring software and subscriptions

• Delivering more innovation with simple, intelligent, automated solutions with industry-leading security across our portfolio

• Success in accelerating our momentum in our key investment areas and commitment to operational discipline…while the dynamics in Service Provider and Emerging Markets continue to present headwinds to overall growth

* Year-over-year change normalized to exclude the SP Video CPE Business for Q1 FY 2016, which was divested during Q2 FY 2016 on November 20, 2015.

Business Momentum & Key Trends

Financial Overview

Business Outlook

Q&A

$M

Y/Y %

Change*

Switching $3,716 (7%)

NGN Routing 2,089 6%

Collaboration 1,081 (3%)

Data Center 834 (3%)

Wireless 632 (2%)

Security 540 11%

Service Provider Video 271 (2%)

Other Products 139 88%

Service 3,050 7%

Total Cisco $12,352 1%

Q1 FY 2017 – Revenue Highlights

Certain reclassifications have been made to the amounts for prior periods in order to conform to the current period’s presentation. Historical revenue by product category and service is available on our website at http://investor.cisco.com under “Financial Info” in the “Investor Relations” section.

30%

17%

9% 7%

5%

4%

2% 1%

25% Switching

NGN Routing

Collaboration

Data Center

Wireless

Security

SP Video

Other

Service

Revenue % of Total

Percentages may not sum to 100% due to rounding

* Year-over-year change normalized to exclude the SP Video CPE Business for Q1 FY 2016, which was divested during Q2 FY 2016 on November 20, 2015. SP Video CPE Business revenue was $411M for Q1 FY 2016.

Q1 FY 2017 Product Orders: Geographic Regions & Customer Segments

Geographic Region Y/Y % Change*

Americas (4%)

EMEA 1%

APJC 4%

Total Cisco (2%)

Product Book to Bill Below 1

Customer Segment Y/Y % Change*

Enterprise 5%

Public Sector 0%

Commercial 1%

Service Provider (12%)

Total Cisco (2%)

* Year-over-year change is normalized to exclude the SP Video CPE Business for Q1 FY 2016, which was divested during Q2 FY 2016 on November 20, 2015.

Q1 FY 2017 Q1 FY 2016 Y/Y Change

Excluding SP

Video CPE

Business $M (except per-share amounts and percentages)

Total Cisco Total Cisco SP Video

CPE

Business

Excluding SP

Video CPE

Business

Revenue $12,352 $12,682 $411 $12,271 1%

Gross Margin 65.2% 63.2% 10.4% 64.9% 0.3 pts

Operating Expenses $4,150 $4,141 $32 $4,109 1%

OPEX (% of Revenue) 33.6% 32.7% 7.9% 33.5% 0.1 pts

Operating Income $3,900 $3,869 $11 $3,858 1%

Operating Income (% of Revenue) 31.6% 30.5% 2.6% 31.4% 0.2 pts

Net Income $3,101 $3,024 $8 $3,016 3%

EPS (diluted) $0.61 $0.59 $0.00 $0.59 3%

Q1 FY 2017 Non-GAAP Income Statement Details

Amounts may not sum due to rounding.

Q1 FY 2017 GAAP Income Statement Highlights

$M (except per-share amounts and percentages) Q1 FY 2016 Q4 FY 2016 Q1 FY 2017

Revenue* $12,682 $12,638 $12,352

Product

Service

$9,844

$2,838

$9,552

$3,086

$9,302

$3,050

Gross Margin 61.8% 63.1% 63.8%

Product Gross Margin

Service Gross Margin

60.9%

64.9% 62.2%

66.0%

63.4%

65.1%

Operating Expenses $4,753 $4,672 $5,007

OPEX (% of Revenue) 37.5% 37.0% 40.5%

Operating Income (% of Revenue) 24.3% 26.1% 23.3%

Net Income $2,430 $2,813 $2,322

Year/Year Change 33% 21% (4%)

EPS (diluted) $0.48 $0.56 $0.46

Year/Year Change 37% 24% (4%)

*Includes SP Video CPE Business revenue for Q1 FY 2016 of $411M. The SP Video CPE Business was divested during Q2 FY 2016 on November 20, 2015.

Capital Allocation

$M Q1 FY 2016 Q2 FY 2016 Q3 FY 2016 Q4 FY 2016 Q1 FY 2017

Share Repurchases $1,207 $1,262 $649 $800 $1,001

Dividends Paid 1,068 1,065 1,308 1,309 1,308

Total $2,275 $2,327 $1,957 $2,109 $2,309

Share Repurchase Program*

Amount Purchased

($M)

Number of Shares

(M)

Avg. Price Per

Share

Q1 FY 2017 Purchases $1,001 32 $31.12

Q1 FY 2016 Q2 FY 2016 Q3 FY 2016 Q4 FY 2016 Q1 FY 2017

Dividends per Share $0.21 $0.21 $0.26 $0.26 $0.26

*Approximately $14.4B remaining authorized funds in repurchase program as of the end of Q1 FY 2017.

Business Momentum & Key Trends

Financial Overview

Business Outlook

Q&A

Business Momentum & Key Trends

Financial Overview

Business Outlook

Q&A

Q&A

FORWARD-LOOKING STATEMENTS These presentation slides and the related conference call contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events (such as the impact of the challenging global business environment, our ability to successfully perform in our priority areas and invest in key growth areas, our ability to lead our customers in their digital transition, adoption by customers of our subscription-based and software offerings, our innovation pipeline, the transition of our business to a more recurring revenue model, and our ability to deliver shareholder value) and the future financial performance of Cisco that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including: business and economic conditions and growth trends in the networking industry, our customer markets and various geographic regions; global economic conditions and uncertainties in the geopolitical environment; overall information technology spending; the growth and evolution of the Internet and levels of capital spending on Internet-based systems; variations in customer demand for products and services, including sales to the service provider market and other customer markets; the return on our investments in certain priorities, key growth areas, and in certain geographical locations, as well (as maintaining leadership in routing, switching and services; the timing of orders and manufacturing and customer lead times; changes in customer order patterns or customer mix; insufficient, excess or obsolete inventory; variability of component costs; variations in sales channels, product costs or mix of products sold; our ability to successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; our ability to achieve expected benefits of our partnerships; increased competition in our product and service markets, including the data center market; dependence on the introduction and market acceptance of new product offerings and standards; rapid technological and market change; manufacturing and sourcing risks; product defects and returns; litigation involving patents, intellectual property, antitrust, shareholder and other matters, and governmental investigations; our ability to achieve the benefits of the announced restructuring and possible changes in the size and timing of the related charges; man-made problems such as cyber-attacks, data protection breaches, computer viruses or terrorism; natural catastrophic events; a pandemic or epidemic; our ability to achieve the benefits anticipated from our investments in sales, engineering, service, marketing and manufacturing activities; our ability to recruit and retain key personnel; our ability to manage financial risk, and to manage expenses during economic downturns; risks related to the global nature of our operations, including our operations in emerging markets, currency fluctuations and other international factors; changes in provision for income taxes, including changes in tax laws and regulations or adverse outcomes resulting from examinations of our income tax returns; potential volatility in operating results; and other factors listed in Cisco’s most recent report on Form 10-K filed on September 8, 2016, respectively. The financial information contained in these presentation slides and the related conference call should be read in conjunction with the consolidated financial statements and notes thereto included in Cisco’s most recent report on Form 10-K as it may be amended from time to time. Cisco’s results of operations for the three months ended October 29, 2016 are not necessarily indicative of Cisco’s operating results for any future periods. Any projections in these presentation slides and the related conference call are based on limited information currently available to Cisco, which is subject to change. Although any such projections and the factors influencing them will likely change, Cisco will not necessarily update the information, since Cisco will only provide guidance at certain points during the year. Such information speaks only as of the date of these presentation slides and the related conference call.

Supplemental Materials

Performance Against Q1 FY 2017 Guidance

$M (except percentages) Q1 FY 2017 Guidance Q1 FY 2017 Actual

Revenue $12,352

Year/Year Change* -1% to 1% growth 1%

Non-GAAP Gross Margin 63% - 64% 65.2%

Non-GAAP Earnings per Share $0.58 - $0.60 $0.61

* Year over year change normalized to exclude SP Video CPE Business for Q1 FY 2016, which was divested during Q2 FY 2016 on November 20, 2015.

Q1 FY 2017 Non-GAAP Income Statement Highlights $M (except per-share amounts and percentages) Q1 FY 2016 Q4 FY 2016 Q1 FY 2017

Revenue* $12,682 $12,638 $12,352

Year/Year Change

Product

Service

4%

$9,844

$2,838

(2%)

$9,552

$3,086

(3%)

$9,302

$3,050

Gross Margin 63.2% 64.6% 65.2%

Product Gross Margin

Service Gross Margin

62.3%

66.2% 63.9%

67.0%

64.8%

66.2%

Operating Expenses $4,141 $4,202 $4,150

OPEX (% of Revenue) 32.7% 33.2% 33.6%

Operating Income (% of Revenue) 30.5% 31.4% 31.6%

Net Income $3,024 $3,189 $3,101

Year/Year Change 8% 6% 3%

EPS (diluted) $0.59 $0.63 $0.61

Year/Year Change 9% 7% 3%

*Includes SP Video CPE Business revenue for Q1 FY 2016 of $411M. The SP Video CPE Business was divested during Q2 FY 2016 on November 20, 2015.

Q1 FY 2017 Key Financial Measures

$M (except non-GAAP inventory turns and headcount) Q1 FY 2016 Q4 FY 2016 Q1 FY 2017

Cash and Cash Equivalents and

Investments $59,107 $65,756 $70,968

Operating Cash Flow $2,766 $3,818 $2,730

Accounts Receivable $4,712 $5,847 $4,805

Inventory $1,482 $1,217 $1,176

Non-GAAP Inventory Turns 12.0 14.0 14.4

Purchase Commitments $4,028 $3,896 $3,920

Deferred Revenue $15,162 $16,472 $16,951

Product Deferred Revenue $5,473 $5,851 $6,527

Service Deferred Revenue $9,689 $10,621 $10,424

Headcount 72,063 73,711 72,385

$M (except per-share amounts)

Q1

FY 2015

Q2

FY 2015

Q3

FY 2015

Q4

FY 2015

Q1

FY 2016

Q2

FY 2016**

Revenue $479 $361 $519 $487 $411 $93

Gross Margin $96 $66 $84 $83 $43 $13

Operating Expenses $38 $35 $37 $37 $32 $11

Operating Income $58 $31 $47 $46 $11 $2

Net Income $45 $24 $36 $37 $8 $2

EPS (diluted) $0.01 — $0.01 $0.01 — —

SP Video CPE Business Historical Financial Information*

* Stand-alone financial information is unaudited.

** Represents one month of results as the SP Video CPE Business was divested during Q2 FY 2016 on November 20, 2015.

Q1 FY 2017 Geographic Revenue and Total Gross Margin

Excluding SP Video CPE Business

Revenue Total Gross Margin Percentage

$M (except percentages) Q1 FY 2016 Q4 FY 2016 Q1 FY 2017 Q1 FY 2016 Q4 FY 2016 Q1 FY 2017

Americas $7,481 $7,633 $7,443 65.7% 64.9% 64.9%

EMEA 3,009 3,109 3,013 65.6% 65.2% 66.8%

APJC 1,781 1,896 1,896 60.5% 62.5% 63.5%

Geographic Total $12,271 $12,638 $12,352 64.9% 64.6% 65.2%

Including SP Video CPE Business

Revenue* Total Gross Margin Percentage

$M (except percentages) Q1 FY 2016 Q4 FY 2016 Q1 FY 2017 Q1 FY 2016 Q4 FY 2016 Q1 FY 2017

Americas $7,792 $7,633 $7,443 63.4% 64.9% 64.9%

EMEA 3,094 3,109 3,013 64.3% 65.2% 66.8%

APJC 1,796 1,896 1,896 60.0% 62.5% 63.5%

Geographic Total $12,682 $12,638 $12,352 63.2% 64.6% 65.2%

*Includes SP Video CPE Business revenue for Q1 FY 2016 of $411M. The SP Video CPE Business was divested during Q2 FY 2016 on November 20, 2015.

Certain reclassifications have been made to the amounts for prior periods in order to conform to the current period’s presentation. Historical revenue and gross margin by segment is available on our website at http://investor.cisco.com under “Financial Info” in the “Investor Relations” section.