Raising our Outlook

Value Market Growth Drivers Prepaid Revenue Growth Outlook Expected Key Drivers ~$1B+* 2021 2022 2025 Growth 2025 * Tracfone contribution only includes incremental revenue post acquisition • • Growing subscriber base over long term Shift to unlimited plans and growth in value added services driving ARPU Migrating 6M+ off-net subs helps drive ~$1B in synergies © 2022 Verizon 70 70

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