Lumen Technologies Investor Presentation — May 2020

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1stQuarter 2020 Results

May 6, 2020Issued: May 6, 2020

Issued: May 6, 20202Forward -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,” and similar expressions are forward -looking statements as defined by the federal securities laws, and are su bject 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 number of assu mptions, risks and uncertainties, many of which

are beyond our control. Actual events and results may differ materially from those anticipated, estimated, projected or impli ed 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 limit ed to: uncertainties due to events outside of our control regarding the impact that

COVID -19 health and economic disruptions will have on our business, operations, employees, customers, suppliers, distribution ch annels, controls, regulatory environment, access to capital, operating or

capital plans and corporate initiatives, and ultimately on our financial performance, financial position and cash flows; the effects of 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 compe ting technologies, including those that could make our products less

desirable or obsolete; our ability to attain our key operating imperatives, including simplifying and consolidating our netwo rk,simplifying and automating our service support systems, strengthening our

relationships with customers and attaining projected cost savings; our ability to safeguard our network, and to avoid the adv erse impact on our business from possible security breaches, service outages,

system failures, equipment breakage, or similar events impacting our network or the availability and quality of our services; the effects of ongoing changes in the regulation of the communications industry,

including the outcome of regulatory or judicial proceedings relating to intercarrier compensation, interconnection obligation s, special access, universal service, broadband deployment, data protection,

privacy and net neutrality; our ability to effectively adjust to changes in the communications industry, and changes in the c omposition of our markets and product mix; possible changes in the demand for