Verizon Communications Investor Presentation — June 2019

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Segment Reporting Webcast

June 18, 2019“Safe Harbor” statement

2NOTE :Inthis presentation wehave made forward -looking statements .These statements are based onour estimates and

assumptions and aresubject torisks and uncertainties .Forward -looking statements include theinformation concerning ourpossible

orassumed future results ofoperations .Forward -looking statements also include those preceded orfollowed bythe words

“anticipates,” “believes,” “estimates,” “expects,” “hopes” orsimilar expressions .Forthose statements, weclaim theprotection ofthe

safe harbor forforward -looking statements contained inthePrivate Securities Litigation Reform Act of1995 .Weundertake no

obligation torevise orpublicly release theresults ofany revision tothese forward -looking statements, except asrequired bylaw.

Given these risks and uncertainties, readers arecautioned nottoplace undue reliance onsuch forward -looking statements. The

following important factors, along with those discussed inourfilings with theSecurities and Exchange Commission (the “SEC”),

could affect future results andcould cause those results todiffer materially from those expressed intheforward -looking statements:

adverse conditions intheU.S.and international economies ;theeffects ofcompetition inthemarkets inwhich weoperate ;material

changes intechnology ortechnology substitution ;disruption ofourkeysuppliers’ provisioning ofproducts orservices ;changes inthe

regulatory environment inwhich weoperate, including anyincrease inrestrictions onourability tooperate ournetworks ;breaches of

network orinformation technology security, natural disasters, terrorist attacks oracts ofwarorsignificant litigation andanyresulting

financial impact notcovered byinsurance ;ourhigh level ofindebtedness ;anadverse change intheratings afforded our debt

securities bynationally accredited ratings organizations oradverse conditions inthecredit markets affecting thecost, including

interest rates, and/or availability offurther financing ;material adverse changes inlabor matters, including labor negotiations, and any

resulting financial and/or operational impact ;significant increases inbenefit plan costs orlower investment returns onplan assets ;

changes intaxlaws ortreaties, orintheir interpretation ;changes inaccounting assumptions that regulatory agencies, including the

SEC, may require orthat result from changes intheaccounting rules ortheir application, which could result inanimpact onearnings ;

theinability toimplement ourbusiness strategies; andtheinability torealize theexpected benefits ofstrategic transactions .

As required by SEC rules, we have provided a reconciliation of the non- GAAP financial measures included in this presentation to the