Lumen Investor Presentation Deck

3Q23 Total Reported Revenue Improvement in Enterprise Channel Trends Revenue ($ in millions) Enterprise Channels Large Enterprise Mid-Market Enterprise Public Sector Wholesale 3Q23 Total Business Total Mass Markets Total Revenue $2,124 $1,182 Q/Q% Change 1.1% 0.3% (1.8%) 7.2% 58.3% 32.5% $498 13.7% $444 12.2% $770 (3.4%) 21.1% (0.1%) 79.5% (2.2%) 20.5% $3,641 (0.5%) 100% (1) Other includes Equipment and IT Solutions. (2) Direct margin is defined as revenue less variable and fixed costs directly associated with the provision of services and products to customers. Direct costs would include, but are not limited to: direct labor and materials/goods, direct taxes and fees, incremental third-party costs that can be attributed to a specific customer, and certain fixed costs. 21 Issued: October 31, 2023 $2,894 $747 % Total Revenue ($ in millions) Grow Nurture Harvest Subtotal Other (1) Total Business 3Q23 $1,125 $865 $690 $2,680 $214 $2,894 Q/Q% Change % Total (1.1%) 38.9% (0.5%) (3.8%) (1.6%) 92.6% 23.7% (0.1%) 29.9% 23.8% 7.4% 100% Direct Margin (2) ~82% -69% -80% -77% -20% -73% LUMEN

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