NaaS Market Opportunity and Strategic Imperatives

NaaS Presents Significant Upside that Lumen Is Positioned Well to Win NaaS¹ is a game-changing market opportunity... Est. SAM² across Mid-Market and Large Enterprise channels ...that Lumen is uniquely positioned to win given: $10-15B 49% 51% 2022 Mid-Market -20% $25-35B 49% 51% 2027 Large Enterprise Note: Small businesses not included in market sizing exercise; Mid-Market = 50 to 249 FTEs, Large Enterprise = 250+ FTEs. 1. Network-as-a-Service. 2. Serviceable Addressable Market. Source: Analysys Mason. 14 Issued: June 5, 2023 Owned and high-performing fiber network • Large install base of customers • Ability to build integrated software solutions Strong digital experience delivery LUMEN®

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