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Investor Presentaiton

...And Outperforming the Wireline Sector Over the Long-Run... 150% 100% 50% (50%) Total Shareholder Return (10.5%) (15.7%) (31.6%) (80.6%) (79.2%) (100%) Mar-13 Aug-13 Jan-14 Jun-14 Nov-14 Apr-15 Sep-15 Feb-16 Jul-16 Dec-16 May-17 Oct-17 Mar-18 CBB CNSL ―CTL WIN FTR 1 Yr CBB A 3 Yr CBB A 5 Yr CBB A CoCincinnati Bell connecting what matters (19.0%) (12.1%) (15.7%) Consolidated (45.6%) +26.6% communications CenturyLink™ Frontier COMMUNICATIONS (29.9%) +17.8% (10.5%) (5.2%) (17.5%) (1.5%) (34.6%) +22.5% (31.6%) +15.9% (76.7%) +57.7% (90.3%) +78.2% (80.6%) +64.9% (70.6%) +51.6% (81.2%) +69.0% (79.2%) +63.5% windstream. communication Wireline (21.2%) +2.2% (36.1%) +23.9% (26.7%) +11.0% S&P 500 27.1% (46.1%) 86.0% (98.2%) 131.7% (147.4%) Source: Capital IQ as of 3/26/18 Note: Companies shown based on wireline focus and similar market cap size 21 24
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