Windstream Holdings Investor Presentation — May 2020

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1Q20 Earnings Presentation

May 11, 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, butarenotlimited to,projections regarding our2020 Financial Plan, including adjusted OIBDAR andadjusted OIBDAR margin,

anticipated netKinetic broadband subscriber growth, improved Enterprise contribution margin, andacceleration ofEnterprise strategic sales andservices ;ourability

tosuccessfully execute our2020 priorities ;certain revenue andcontribution margin trends inourbusiness units ;opportunities toexpand ourstrategic products and

services foroursmall andmedium sized business customers; increasing broadband penetration levels andavailability offaster broadband speeds tomore households

andbusinesses within ourservice areas ;anticipated results andfunding opportunities related totheRural Digital Opportunity Fund andthecurrent CAF IIprogram,

both administered bytheFederal Communications Commission ;statements concerning thecurrent settlement inprinciple andarrangements with Uniti Group, Inc.;

expectations regarding expense management activities, including interconnection expense, andthetiming andbenefit ofsuch activities ;andanyother statements

regarding plans, objectives, expectations and intentions and other statements that arenothistorical facts .These statements, along with other forward -looking