Lumen Investor Day Presentation Deck

Re-focusing Spend on High Impact Programs We've implemented clean sheet budgeting... ...begun aggressive cost re-allocation to higher priority initiatives... Eliminated ~100 low-value-added processes (~60 more since Q1'23 earnings) ...and plan to continue rationalizing costs 13 SECURE THE BASE ~400K annualized people- hour savings identified for re- allocation (+280K since Q1 23 earnings) LUMENⓇ

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