#1I LUMEN ANALYST DAY#2Forward-Looking Statements Except for historical and factual information, the matters set forth in this presentation and other of our oral or written statements identified by words such as "estimates," "expects," "antic- ipates," "believes," "plans," "intends," "will," and similar expressions are forward-looking statements as defined by the federal securities laws and are subject to the "safe harbor" protections thereunder. These forward-looking statements are not guarantees of future results and are based on current expectations only, are inherently speculative, and are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. Actual events and results may differ materially from those anticipated, estimated, projected or implied by us in those statements if one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect. Factors that could affect actual results include but are not limited to: uncertainties regarding the impact that COVID-19 health and economic disruptions will continue to have on our business, operations, cash flows and corporate initiatives; the effects of competition from a wide variety of competitive providers, including decreased demand for our more mature service offerings and increased pricing pressures; the effects of new, emerging or competing technologies, including those that could make our products less desirable or obsolete; our ability to attain our key operating imperatives, including simplifying and consoli- dating our network, simplifying and automating our service support systems, strengthening our relationships with customers and attaining projected cost savings; our ability to safeguard our network, and to avoid the adverse impact of possible security breaches, service outages, system failures, or similar events impacting our network or the availability and quality of our services; the effects of ongoing changes in the regulation of the communications industry, including the outcome of legislative, regulatory or judicial proceedings relating to content liabil- ity standards, intercarrier compensation, universal service, service regulation, broadband deployment, data protection, privacy and net neutrality; our ability to effectively retain and hire key personnel and to successfully negotiate collective bargaining agreements on reasonable terms without work stoppages; possible changes in the demand for our products and services, including increased demand for high-speed data transmission services; our ability to successfully maintain the quality and profitability of our existing product and service offerings and to introduce profitable new offerings on a timely and cost-effective basis; our ability to generate cash flows sufficient to fund our financial commitments and objectives, including our capi- tal expenditures, operating costs, debt repayments, dividends, pension contributions and other benefits payments; our ability to successfully and timely implement our operating plans and corporate strategies, including our deleveraging strategy; changes in our operating plans, corporate strategies, dividend payment plans or other capital allocation plans, whether based upon COVID-19 disruptions, changes our cash flows, cash requirements, financial performance, financial position, market conditions or otherwise; the impact of any future material acqui- sitions or divestitures that we may engage in; the negative impact of increases in the costs of our pension, health, post-employment or other benefits, including those caused by changes in markets, interest rates, mortality rates, demographics or regulations; the potential negative impact of customer complaints, government investigations, security breaches or service outages impacting us or our industry; adverse changes in our access to credit markets on favorable terms, whether caused by changes in our financial position, lower credit ratings, unstable markets or otherwise; our ability to meet the terms and conditions of our debt obligations and covenants, including our ability to make transfers of cash in compliance therewith; our ability to main- tain favorable relations with our security holders, key business partners, suppliers, vendors, landlords and financial institutions; our ability to meet evolving environmental, social and gover- nance expectations and benchmarks; our ability to collect our receivables from, or continue to do business with, financially-troubled customers, including, but not limited to, those adversely impacted by the economic dislocations caused by the COVID-19 pandemic; our ability to use our net operating loss carryforwards in the amounts projected; any adverse developments in legal or regulatory proceedings involving us; changes in tax, pension, healthcare or other laws or regulations, in governmental support programs, or in general government funding levels, including those arising from pending proposals to increase federal income tax rates; the effects of changes in accounting policies, practices or assumptions, including changes that could potentially require additional future impairment charges; the effects of adverse weather, terrorism, epidemics, pandemics, rioting, societal unrest, or other natural or man-made disasters or disturbances; the potential adverse effects if our internal controls over financial reporting have weaknesses or deficiencies, or otherwise fail to operate as intended; the effects of more general factors such as changes in interest rates, in exchange rates, in operating costs, in public policy, in the views of financial analysts, or in general market, labor, economic or geo-politi- cal conditions; and other risks referenced from time to time in our filings with the U.S. Securities and Exchange Commission. You are cautioned not to unduly rely upon our forward-looking statements, which speak only as of the date made. We undertake no obligation to publicly update or revise any forward-looking statements for any reason, whether as a result of new infor- mation, future events or developments, changed circumstances, or otherwise. Furthermore, any information about our intentions contained in any of our forward-looking statements reflects our intentions as of the date of such forward-looking statement, and is based upon, among other things, existing regulatory, technological, industry, competitive, economic and market con- ditions, and our assumptions as of such date. We may change our intentions, strategies or plans (including our dividend or other capital allocation plans) at any time and without notice, based upon any changes in such factors, in our assumptions or otherwise. LUMEN ANALYST DAY#3Andrew Dugan Chief Technology Officer Shaun Andrews Chief Marketing Officer Jeff Storey Chief Executive Officer Edward Morche President, Strategic Enterprise and Government Laurinda Pang President, Customer Success Maxine Moreau President, Mass Markets Neel Dev Chief Financial Officer LUMEN ANALYST DAY#4Looking toward the future ALS LUMEN ANALYST DAY#5― Growth Operationalize Transform Integrate 165 LUMEN ANALYST DAY#6The Platform for Amazing Things troool rororroro broooror orroor APPLICATION PLATFORM + INFRASTRUCTURE LUMEN ANALYST DAY#7180,000 2,200+ on net fiber buildings data centers globally LUMEN ANALYST DAY#8BLACK LOTUS LABS Ⓡ LUMEN ANALYST DAY#9Award-winning ty services - 10 mono DDoS mitigation Web Application Firewalls Botnet protection#10Driving growth at the Edge LUMEN ANALYST DAY#11LUMENⓇ LUMEN LUMENⓇ + + IBM Cloud vmware® SAP + ⓇBusiness LUMEN™ + T Mobile LUMEN ANALYST DAY#12Lumen named a Leader 2021 Gartner Magic Quadrant for Network Services, Global Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. < 수 기 «#13FROST SULLIVAN Best Practices Innovation Award 2021 Frost & Sullivan, Global Holistic Web Protection#14Quantum™ FIBER LUMEN ANALYST DAY#15+76 NPS Score YTD LUMEN ANALYST DAY#162021 Priorities LUMEN ANALYST DAY#17Drive growth over the Lumen Platform 0000 LUMEN ANALYST DAY#18Improve penetration of existing services K LUMEN ANALYST DAY#19Transform the business LUMEN ANALYST DAY#20Continue balanced capital allocation LUMEN ANALYST DAY#21ANDREW DUGAN CTO Our network advantage#22Enterprise Multi Cloud Internet Metro Networks Edge 0 Cloud Data centers LUMEN ANALYST DAY#23SHAUN ANDREWS EVP Product and CMO Growth on our platform#2491% Trust technology partners with expansive global networks to help with data needs LUMEN ANALYST DAY#25Lümen® Edge Bare Metal#261.2 Tbps Streaming LUMEN ANALYST DAY#27APPLICATION 10 PLATFORM INFRASTRUCTURE Designed to deliver 5ms of latency or better#28New Solutions Driving Growth on the Platform Edge Computing Platform 09 (((. Solutions Adaptive Networking Digital Experiences Connected Security UC&C LUMEN ANALYST DAY#29Near-zero latency for next-gen apps with Lumen® Edge Computing Solutions Accelerate data with Lumen® Edge Computing Solutions at 60+ planned locations designed for <5ms latency. LUMENⓇ CO O#30One-of-a-kind hybrid WAN 4 speeds. On-demand purchasing. Public and private connectivity. See if Lumen® Hyper WANSM is right for you. LUMENⓇ 1#31Stop attacks fast with LumenⓇ DDoS Hyper Turn up DDoS protection in minutes, not days, with our on-demand DDoS Mitigation Service. LUMENⓇ#32We see you loud and clear High-performance VoIP, video and chat means you get high-quality connections-no matter the scale or speed. LUMENⓇ THR Flandes#33Digital Experience on the Platform • Digital buying exerience • API marketplace • Portals and digital self-service • Flexible customer journeys © 2021 Lumen Technologies, LLC. All Rights Reserved. LUMEN ANALYST DAY#34Platform + Ecosystem Partner LUMEN ANALYST DAY#35LUMENⓇ vmware