Lumen Investor Day Presentation Deck

We See a Growing Market Opportunity 1.Edge Managed Services & Edge Network Services. 2. Managed Security & SASE. 3. Dark Fiber & Wavelengths. 4. Business broadband & Ethernet. 5. IP/VPN MPLS, ATM / Frame, & Managed Network Services. 6. Excluding VoIP (sized separately). Sources: Analysys Mason, Data Bridge, Frost & Sullivan, Gartner, GlobalData, Grand View Research, IDC, VSG. 6 Relevant US business Telco market sizes (in $B) ~$115 2023 +5% ~$135 2026 Product Market CAGR ~25% Edge¹ SD-WAN Security² Optical Services³ VolP & UC&C IP-DIA Other Connectivity4 VPN Data Networks5 Voice6 ~20% ~15% ~10% ~5% ~3% ~1% ~(5%) ~(15%) LUMENⓇ

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