Investor Presentaiton

Non-GAAP and other financial measures (cont'd) Non-GAAP financial measures (cont'd) Net debt Net debt is a non-GAAP financial measure and it does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other issuers. Refer to section 9.1, Non-GAAP financial measures - Net debt, of BCE's 2023 First Quarter MD&A, which is incorporated by reference herein, for more information concerning this measure, including a reconciliation to long-term debt, being the most directly comparable IFRS financial measure. Non-GAAP ratios Adjusted EPS Adjusted EPS is a non-GAAP ratio and it does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other issuers. We define adjusted EPS as adjusted net earnings per BCE common share. Adjusted net earnings is a non-GAAP financial measure. For further details on adjusted net earnings, refer to section Non-GAAP financial measures above. Refer to section 9.2, Non-GAAP ratios - Adjusted EPS, of BCE's 2023 First Quarter MD&A, which is incorporated by reference herein, for more information concerning adjusted EPS. Total of segments measures Adjusted EBITDA Adjusted EBITDA is a total of segments measure. Refer to section 9.3, Total of segments measures - Adjusted EBITDA, of BCE's 2023 First Quarter MD&A, which is incorporated by reference herein, for more information concerning this measure, including a reconciliation to net earnings, being the most directly comparable IFRS financial measure. Capital management measures Net debt leverage ratio The net debt leverage ratio is a capital management measure and represents net debt divided by adjusted EBITDA. Net debt used in the calculation of the net debt leverage ratio is a non-GAAP financial measure. For further details on net debt, refer to section Non- GAAP financial measures above. For the purposes of calculating our net debt leverage ratio, adjusted EBITDA is twelve-month trailing adjusted EBITDA. We use, and believe that certain investors and analysts use, the net debt leverage ratio as a measure of financial leverage. Bell 15

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