Lumen Technologies Investor Presentation — November 2020

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Issued: Nov. 4, 2020

© 2020 Lumen Technologies. All Rights Reserved.

3rdQuarter 2020 Results

November 4th, 2020Issued: Nov. 4, 2020Forward -Looking Statements

Except for historical and factual information , the matters set forth in this presentation and other of our oral or written statements identified by words such as “estimat es,” “expects,”

“anticipates,” “believes,” “plans,” “intends,” and similar expressions are forward -looking statements as defined by the federal securities laws, and are subject 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 assumptions, risks and uncertainties, many of which are beyond our control. Actual events and results may differ materially f rom 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: uncertainties due to events outside of our control regarding the impact that COVID -19 health and economic disruptions will continue to have on our

business, operations, employees, customers, suppliers, distribution channels, controls, regulatory environment, access to cap ital, 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 variet y of competitive providers, including decreased demand for

our more mature service offerings and increased pricing pressures; the effects of new, emerging or competing technologies, in cluding 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, an d to avoid the adverse impact on our business from

possible security breaches, service outages, system failures, equipment breakage, or similar events impacting our network or theavailability 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

obligations, special access, universal service, broadband deployment, data protection, privacy and net neutrality; our abilit y to effectively adjust to changes in the communications