Welcome

Kathleen Bela, VP Investor Relations

October 29, 2009

2 Copyright © 2009 Juniper Networks, Inc. www.juniper.net

SAFE HARBOR

FORWARD LOOKING STATEMENTS

Information and projections contained in today’s presentation slides and related webcast concerning Juniper Networks' business outlook, future financial and operating results, and overall future prospects are forward looking statements that involve a number of uncertainties and risks. Actual results could differ materially from those anticipated in those forward-looking statements as a result of certain factors, including: general economic conditions globally or regionally; business and economic conditions in the networking industry; changes in overall technology spending; the network capacity requirements of communication service providers; contractual terms that may result in the deferral of revenue; increases in and the effect of competition; the timing of orders and their fulfillment; manufacturing and supply chain constraints; ability to establish and maintain relationships with distributors and resellers; variations in the expected mix of products sold; changes in customer mix; changes in geography mix; customer and industry analyst perceptions of Juniper Networks and its technology, products and future prospects; delays in scheduled product availability; market acceptance of Juniper Networks products and services; rapid technological and market change; adoption of regulations or standards affecting Juniper Networks products, services or the networking industry; the ability to successfully acquire, integrate and manage businesses and technologies; product defects, returns or vulnerabilities; the ability to recruit and retain key personnel; significant effects of tax legislation and judicial or administrative interpretation of taxregulations; currency fluctuations; litigation; and other factors listed in Juniper Networks’ most recent report on Form 10-Q filed with the Securities and Exchange Commission (SEC). All information and projections contained in today’s slides and related webcast speak only as of the date of today’s presentations and related webcast. Juniper Networks undertakes no obligation to update the information contained in these slides and related webcast in the event facts or circumstances subsequently change.

3 Copyright © 2009 Juniper Networks, Inc. www.juniper.net

AGENDA

Strategic Overview Robyn Denholm, CFO

Q & A Michel Langlois, SVP Junos Software

Manoj Leelanivas, SVP & GM, Edge and

Aggregation Business Unit

The New Network for the Next Decade

Robyn Denholm, CFO

October 29, 2009

5 Copyright © 2009 Juniper Networks, Inc. www.juniper.net

HEADLINES

--New silicon innovation will advance the economics of networking

--Our expanded portfolio of MX products will continue to drive our market share momentum

--Opening up Junos to new partnerships and licensing model will drive incremental revenue opportunities as we move forward

--We remain committed to our long term financial model

6 Copyright © 2009 Juniper Networks, Inc. www.juniper.net

FOCUS ON CORE STRATEGIES YIELDING RESULTS

THE POWER OF ONE

INNOVATION FOR THE FUTURE

Platform Services

High-Perf.Networking

Choice andFlexibility

LowerTCO

Mobility VideoMega-

Consolidation Green

Process PeopleProductivityPlanning

ServiceProviders

Enterprise

JUNOS

ALIGN GTM BY SEGMENT, EMBRACE PARTNERSHIPS

DELIVER CUSTOMER-FOCUSED VALUE

EXECUTIONAL EXCELLENCE

Aligned

GTM

Customer-

Focused

Value

One

JUNOS

Advance

Intellectual

Property

Excellence

in Execution

7 Copyright © 2009 Juniper Networks, Inc. www.juniper.net

ANNOUNCEMENT SUMMARY:NEW SOFTWARE PLATFORMS

Multi-service

Network Client

Provides location-aware

intelligence to simplify,

secure and streamline

application access for

users wherever they are

Open Network

Application Platform

Designed for building

applications that simplify

network operations,

automate support and

scale services

Delivers reliable, high-

performance, low-cost

platform for routing,

switching and security –

with APIs and SDK to

write to the network

8 Copyright © 2009 Juniper Networks, Inc. www.juniper.net

• Software Platform: Fueling Innovation Across the NetworkJunos + Junos Space + Junos Pulse

• Systems and New Silicon: “3D Scaling” and Universal Edge

Junos Trio Chipset = 3D Scaling Breakthrough

MX 3D Routers = First Universal Edge PlatformMX 3D

ANNOUNCEMENT SUMMARY: SYSTEMS AND NEW SILICON

INNOVATION FOR THE FUTURE

Green

Advance

Intellectual

Property

Platform Services Mobility GreenVideo

Mega-

Consolidation

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The Definition of Universal Edge:

Any User, Any Service, Any Where

Identity & Policy

SRX

IP/ETHERNET

Ethernet @ Scale!

BANDWIDTH

Scaling from

KB to GB

SUBSCRIBERS

Thousands to Millions

of Subscribers

SERVICES

Real Time Video,

Voice and data

everywhere

SECURITY

Securing the

un-tethered

experience

RAN Aggregation Packet Core BackboneEX, A-Series, BX , MX 3DM GGSN, WiMax, LTE/EPC T, M

EPC

MOBILE SOLUTIONS

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Platform

Software

MX 3D

Trios

Hardware

REVEALING THE NEW MOBILE NETWORK

Application

Software

Mobile Carrier

Ethernet Transport DPI/DAA

Voice with

SBC

Subscriber

Management

WiMax

GatewaySubscriber

Usage Reporting

Video Experience

Monitoring

Mobile

Security

Voice Experience

Monitoring

Media Caching Identity & Policy

Management

Multi-Access

Gateway

GGSN

Mobile

Packet Core

Mobile

Subscriber

Management

11 Copyright © 2009 Juniper Networks, Inc. www.juniper.net

• Data Center 2 Cloud Initiative

Five New Solutions + Eight New Products

Security at Massive Scale for Cloud Services

• Systems and New Silicon: “3D Scaling” and Universal Edge

Junos Trio Chipset = 3D Scaling Breakthrough

MX 3D Routers = First Universal Edge Platform

MX 3D

ANNOUNCEMENT SUMMARY: DATA CENTER 2 CLOUD INITIATIVE

INNOVATION FOR THE FUTURE

Green

Advance

Intellectual

Property

Platform Services Mobility GreenVideo

Mega-

Consolidation

• Software Platform: Fueling Innovation Across the NetworkJunos + Junos Space + Junos Pulse

12 Copyright © 2009 Juniper Networks, Inc. www.juniper.net

3 STEPS TO CLOUD-READY DATA CENTER NETWORKP

olic

ies

Infr

as

tru

ctu

re

SecureShare

Simplify

STRATUS

New New

Client-Server flows

Server-Server flows

DC-DC flows

Resources Pool

Virtualization

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Data CentersClients Global High-Performance Network

Server

to Server

Client to DC

SECURE – CLOUD ENABLED SECURITY

DC to DC

Securing flows

between VMs 2

Securing flows

between servers 1

Elastic transport

using VPLS 3

Coordinated threat

control 5

Securing flows

from Clients to DC 4

Coordinated Threat Control

14 Copyright © 2009 Juniper Networks, Inc. www.juniper.net

• Junos-Based Partnerships

Dell + IBM = Extended Global Market Reach

Blade Network Technologies = First-Ever Junos Licensing Deal

Dozens of Third Parties Building Applications on Junos

• Data Center 2 Cloud Initiative

Five New Solutions + Eight New Products

Security at Massive Scale for Cloud Services

• Systems and New Silicon: “3D Scaling” and Universal Edge

Junos Trio Chipset = 3D Scaling Breakthrough

MX 3D Routers = First Universal Edge PlatformMX 3D

ANNOUNCEMENT SUMMARY:JUNOS-BASED PARTNERSHIP

• Software Platform: Fueling Innovation Across the NetworkJunos + Junos Space + Junos Pulse

15 Copyright © 2009 Juniper Networks, Inc. www.juniper.net

FOCUS ON SHAREHOLDER VALUE

--Differentiated strategy driving return on investment in R&D

--Core tenet of strategy is our value proposition of an integrated portfolio based on our key asset of one-JUNOS

--Investment in advancement of silicon will continue to improve economics of networking and lower product costs

--Creating a new ecosystem for third-party developers on the power of JUNOS creates value, choice and flexibility for customers

--Partnerships enhance our go-to-market leverage both in the Service Provider and Enterprise markets

16 Copyright © 2009 Juniper Networks, Inc. www.juniper.net

Reflects Non-GAAP information above.

COMMITMENT TO OUR LONG-TERM FINANCIAL MODEL

Revenue

Gross Margins

Operating Expenses:

R&D

S&M

G&A

20%+

66-68%

18-19%

19-20%

3-3.5%

39-42%

25%+

Targeted Model -unchanged

TotalOperating Expenses

Operating Margins

17 Copyright © 2009 Juniper Networks, Inc. www.juniper.net

TAKEAWAY

--New silicon innovation will advance the economics of networking

--Our expanded portfolio of MX products will continue to drive our market share momentum

--Opening up Junos to new partnerships and licensing model will drive incremental revenue opportunities as we move forward

--We remain committed to our long term financial model

Q & A