Verizon Communications Investor Presentation — October 2019

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October 25, 2019“Safe Harbor” statement

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 protection of 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; material 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; breaches 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, including interest rates, and/or availability of further

financing; material adverse changes in labor matters, including labor negotiations, 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, including 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 transactions.