1Q22 Enterprise Channel Revenue Report

Financial Highlights for 1Q22 • • • Maintained strong Adjusted EBITDA margins and Free Cash Flow Improved Mass Markets revenue performance excluding CAF II through fiber subscriber growth and ARPU expansion Returned $271 million to our shareholders during the quarter through our quarterly dividend Reduced Net Debt by approximately $1.5 billion since the first quarter 2021 Full-year 2022 financial outlook measures updated due to the timing of expected 20-state ILEC transaction closing 21 Issued: May 4, 2022 LUMEN®

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