Verizon Communications Investor Presentation — May 2018

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May 21, 2018Lowell McAdam

Chairman & CEONOTE: 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,” “hopes” or similar expressions. For those statements, we claim the protect ionof the

safe harbor for forward- looking statements contained in the Private Securities 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

following important factors, along with those discussed in our filings with the Securities and Exchange Commission (the “SEC” ), could

affect future results and could cause those results to differ materially from those expressed in the forward- looking statements:

adverse conditions in the U.S. and international economies; the effects of competition in the markets in which we operate; mater ial

changes in technology or technology substitution; disruption of our key suppliers’ provisioning of products or services; changes in the

regulatory environment in which we operate, including any increase in restrictions on our ability to operate our networks; br eaches of

network or information technology security, natural disasters, terrorist attacks or acts of war or significant litigation and any resulting

financial impact not covered by insurance; our high level of indebtedness; an adverse change in the ratings afforded our debt

securities by nationally accredited ratings organizations or adverse conditions in the credit markets affecting the cost, inc luding

interest rates, and/or availability of further financing; material adverse changes in labor matters, including labor negotiat ions, and any

resulting financial and/or operational impact; significant increases in benefit plan costs or lower investment returns on plan assets;

changes in tax laws or treaties, or in their interpretation; changes in accounting assumptions that regulatory agencies, incl uding the

SEC, may require or that result from changes in the accounting rules or their application, which could result in an impact on earnings;

the inability to implement our business strategies; and the inability to realize the expected benefits of strategic transacti ons.