Windstream Holdings Investor Presentation — February 2020

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4Q19 Earnings Presentation

February 20, 2020Windstream Holdings, Inc. claims the protection of the safe- harbor for forward -looking statements contained in the Private Secur ities Litigation Reform Act of 1995.

Forward -looking statements are typically identified by words or phrases such as “will,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “target,”

“forecast” and other words and terms of similar meaning. Forward- looking statements are subject to risks and uncertainties that could cause actual future events and

results to differ materially from those expressed in the forward- looking statements.

Forward -looking statements include, but are not limited to, projections regarding our 2020 Financial Plan, including adjusted OI BDAR and adjusted OIBDAR margin,

anticipated net Kinetic broadband subscriber growth, improved Enterprise contribution margin, and acceleration of Enterprise str ategic sales and services; our ability

to successfully execute our 2020 priorities; certain revenue and contribution margin trends in our business units; opportunit iesto expand our strategic products and

services for our small and medium sized business customers; increasing broadband penetration levels and availability of faster b roadband speeds to more households

and businesses within our service areas; anticipated results and funding opportunities related to the Rural Digital Opportuni ty Fund and the current CAF II program,

both administered by the Federal Communications Commission; statements concerning the current arrangement with Uniti Group, Inc.; expectations regarding

expense management activities, including interconnection expense, and the timing and benefit of such activities; and any other s tatements regarding plans,