Verizon Communications Investor Presentation — April 2020

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April 24, 2020© 2020 VerizonNOTE: In this presentation we have made forward -looking statements. These statements are based on our estimates and assumptions and are subject to

risks and uncertainties. Forward -looking statements include the information concerning our possible or assumed future results of operations. Forward -

looking statements also include those preceded or followed by the words “anticipates,” “believes,” “estimates,” “expects,” “h opes” or similar expressions.

For those statements, we claim the protection of the safe harbor for forward -looking statements contained in the Private Securit ies Litigation Reform Act of

1995. We undertake no obligation to revise or publicly release the results of any revision to these forward -looking statements, except as required by law.

Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward -looking statements. The f ollowing important

factors, along with those discussed in our filings with the Securities and Exchange Commission (the “SEC”), could affect futu re results and could cause

those results to differ materially from those expressed in the forward -looking statements: cyber attacks impacting our networks or systems and any

resulting financial or reputational impact; natural disasters, terrorist attacks or acts of war or significant litigation and any resulting financial or reputational

impact; the impact of the recent global outbreak of COVID -19 on our operations, our employees and the ways in which our customer s use our networks and

other products and services; disruption of our key suppliers’ or vendors' provisioning of products or services, including as a result of the COVID -19

outbreak; material adverse changes in labor matters and any resulting financial or operational impact; the effects of competi tion in the markets in which we

operate; failure to take advantage of developments in technology and address changes in consumer demand; performance issues o r delays in the

deployment of our 5G network resulting in significant costs or a reduction in the anticipated benefits of the enhancement to ournetworks; the inability to

implement our business strategy; adverse conditions in the U.S. and international economies; changes in the regulatory enviro nment in which we operate,

including any increase in restrictions on our ability to operate our business; our high level of indebtedness; an adverse cha nge in the ratings afforded our

debt securities by nationally accredited ratings organizations or adverse conditions in the credit markets affecting the cost , including interest rates, and/or

availability of further financing; significant increases in benefit plan costs or lower investment returns on plan assets; ch anges in tax laws or treaties, or in