Edgio, Inc. Launches Strategic Financial Restructuring to Facilitate Sale and Strengthen Operations Page 1

Edgio, Inc. (Nasdaq: EGIO) and certain of its subsidiaries (collectively, “Edgio” or the “Company”), the platform of choice for security, speed and simplicity, today announced that they have voluntarily filed for Chapter 11 relief (the “Chapter 11 Cases”) in the U.S. Bankruptcy Court for the District of Delaware (the “Court”) to effectuate one or more sale agreements to enable the Company to continue operations under new ownership.

The Company is entering into this process with the support of its primary lender, Lynrock Lake Master Fund LP (“Lynrock”), to facilitate a smooth and efficient completion of the Chapter 11 cases. To anchor the sale process, Edgio has entered into a stalking horse asset purchase agreement with Lynrock, which has agreed to acquire assets of the Company through a credit offer representing $110 million of Lynrock’s existing secured debt. Prior to the commencement of Chapter 11 cases, the Company engaged in discussions with a number of interested parties regarding a potential sale of all or a portion of the Company’s businesses and assets. In response to such interest, the Company intends to utilize a court-supervised sale process to seek the highest or otherwise best offer for its assets, including its valuable individual business product offerings: