Lumen Technologies Investor Presentation — April 2024

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© 2024 Lumen Technologies. All Rights Reserved. 1 © 2024 Lumen Technologies. All Rights Reserved. 1Forward -Looking Statements

Except for historical and factual information, the matters set forth in this presentation and other of our oral or written st atements identified by words such as “estimates,” “expects,” “anticipates,” “believes,” “plans,”

“intends,” “will,” and similar expressions are forward -looking statements as defined by the federal securities laws, and are sub ject to the “safe harbor” protections thereunder. These forward -looking statements are not

guarantees of future results and are based on current expectations only, are inherently speculative, and are subject to a num ber of assumptions, risks and uncertainties, many of which are beyond our control. Actual

events and results may differ materially from those anticipated, estimated, projected or implied by us in those statements if one or more of these risks or uncertainties materialize, or if underlying assumptions prove

incorrect. Factors that could affect actual results include but are not limited to: the effects of intense competition from a wide variety of competitive providers, including decreased demand for our more mature service

offerings and increased pricing pressures; the effects of new, emerging or competing technologies, including those that could make our products less desirable or obsolete; our ability to successfully and timely attain our

key operating imperatives, including simplifying and consolidating our network, simplifying and automating our service suppor t systems, attaining our Quantum Fiber buildout schedule, replacing aging or obsolete plant

and equipment, strengthening our relationships with customers and attaining projected cost savings; our ability to safeguard our network, and to avoid the adverse impact of cyber -attacks, security breaches, service

outages, system failures, or similar events impacting our network or the availability and quality of our services; the effect s of ongoing changes in the regulation of the communications industry, including the outcome of

legislative, regulatory or judicial proceedings relating to content liability standards, intercarrier compensation, universal service, service standards, broadband deployment, data protection, privacy and net neutrality; our

ability to generate cash flows sufficient to fund our financial commitments and objectives, including our capital expenditure s, operating costs, debt obligations , taxes, pension contributions and other benefits payments;

our ability to effectively retain and hire key personnel and to successfully negotiate collective bargaining agreements on re asonable terms without work stoppages; our ability to successfully adjust to changes in customer