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Raising our Outlook slide image

Raising our Outlook

Target Leverage Ratio Leverage Ratio (Net Unsecured Debt/Adjusted EBITDA) 2.0X 2.0x 1.75X 2.9x 2.8x 2.8x 2.0x 2.0X YE20 1Q21 YE 21 YE 22E Targeted Range YE 23E YE 24E Actual Forecasted YE 25E 1.75X Revenue Growth plus Capital Intensity Reduction Support Deleveraging ©2022 Verizon 73
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