X0306 4 2018-06-30 0 0001514416 Bandwidth Inc. BAND 0001721937 Carmichael Bandwidth LLC C/O CARMICHAEL PARTNERS LLC 4725 PIEDMONT ROW DR, STE 210 CHARLOTTE NC 28210 0 0 1 0 0001575505 Bailey Brian D. C/O CARMICHAEL INVESTMENT PARTNERS LLC 4725 PIEDMONT ROW DRIVE, SUITE 210 CHARLOTTE NC 28210 1 0 1 0 0001567046 Martin Kevin J C/O CARMICHAEL INVESTMENT PARTNERS LLC 4725 PIEDMONT ROW DRIVE, SUITE 210 CHARLOTTE NC 28210 0 0 1 0 0001722003 Carmichael Partners LLC C/O CARMICHAEL INVESTMENT PARTNERS LLC 4725 PIEDMONT ROW DRIVE, SUITE 210 CHARLOTTE NC 28210 0 0 1 0 0001513802 Carmichael Investment Partners, LLC C/O CARMICHAEL INVESTMENT PARTNERS LLC 4725 PIEDMONT ROW DRIVE, SUITE 210 CHARLOTTE NC 28210 0 0 1 0 0001562063 Carmichael Investment Partners II, LLC C/O CARMICHAEL INVESTMENT PARTNERS LLC 4725 PIEDMONT ROW DRIVE, SUITE 210 CHARLOTTE NC 28210 0 0 1 0 0001592580 Carmichael Investment Partners III, LLC C/O CARMICHAEL INVESTMENT PARTNERS LLC 4725 PIEDMONT ROW DRIVE, SUITE 210 CHARLOTTE NC 28210 0 0 1 0 Class A Common Stock 2018-06-30 4 M 0 822 0.00 A 1192472 I See footnotes Restricted Stock Units 2018-06-30 4 M 0 822 0.00 D Class A Common Stock 822 1644 I See footnotes Consists of 1,188,874 shares of Class A Common Stock held by Carmichael Investment Partners LLC ("CIP") and 3,598 shares of Class A Common Stock held directly by Brian D. Bailey. Pursuant to an agreement between Mr. Bailey and Carmichael Partners LLC, Carmichael Partners LLC is entitled to all economic benefits of such shares held by Mr. Bailey. Carmichael Bandwidth LLC is the managing member of each of Carmichael Investment Partners II, LLC ("CIP II"), Carmichael Investment Partners III, LLC ("CIP III" and, together with CIP and CIP II, the "Carmichael Entities"). Brian D. Bailey and Kevin J. Martin are the managing partners of Carmichael Bandwidth LLC and Carmichael Partners LLC and share voting and dispositive power with respect to the shares held by the Carmichael Entities and Carmichael Partners LLC. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its or their pecuniary interest therein. Each Restricted Stock Unit represents a contingent right to receive one share of the Company's Class A Common Stock. On January 24, 2018, the Reporting Person was granted 3,288 Restricted Stock Units which vest in four equal quarterly installments beginning on March 31, 2018. Represents Restricted Stock Units held directly by Brian D. Bailey. /s/ Brian D. Bailey 2018-07-05 /s/ Jeffrey A. Hoffman, Attorney-in-Fact for Kevin J. Martin 2018-07-05 Carmichael Bandwidth LLC By: /s/ Brian D. Bailey, Managing Partner 2018-07-05 Carmichael Partners LLC By: /s/ Brian D. Bailey, Managing Partner 2018-07-05 Carmichael Investment Partners LLC, By: Carmichael Bandwidth LLC, its managing member, By: /s/ Brian D. Bailey, Managing Partner 2018-07-05 Carmichael Investment Partners II, LLC, By: Carmichael Bandwidth LLC, its managing member, By: /s/ Brian D. Bailey, Managing Partner 2018-07-05 Carmichael Investment Partners III, LLC, By: Carmichael Bandwidth LLC, its managing member, By: /s/ Brian D. Bailey, Managing Partner 2018-07-05