Lumen Investor Presentation Deck
24
1Q23 Year-Over-Year Total Reported Revenue Bridge
-80% of Decline Due to CAF II Release, Post-Closing Commercial
Agreements and Divestitures
●
Business: -13.1%
Mass Markets: -38.7%
Total: -20.1%
(1) The Company believes that these figures will allow analysts and investors to understand (i) the amounts
associated with the divestitures and the impact that the CAF Phase II program had on the Company's revenue.
generating activities in the first quarter of 2022 in relation to the Company's past, but not current or future,
financial performance and (ii) the impact that the post-closing agreements have had on the Company's activities
in the first quarter of 2023 and its current financial performance.
(2) Calculated by combining the impacts from 1Q22 CAF II Release, Post-Closing Commercial Agreements, and
Divestitures and showing them as a percent of the total dollar change from 1Q22 Reported Revenue to 1Q23
Reported Revenue.
Issued: May 2, 2023
$4,676
1Q22
Reported
-$59
-80%
1Q22
CAF II
elease (¹)
(2)
$28
-$716
Post-Closing
Commercial
Agreements/
Divestitures (1)
($ in millions)
-$191
Other
Declines
$3,738
1Q23
Reported
LUMENⓇView entire presentation