Lumen Results Presentation Deck

3Q23 Total Reported Revenue Improvement in Enterprise Channel Trends. Revenue ($ in millions) 8 Enterprise Channels Large Enterprise Mid-Market Enterprise Public Sector Wholesale Total Business Total Mass Markets Total Revenue 3Q23 $2,124 $1,182 $498 $444 $770 $2,894 $747 $3,641 Q/Q% Change 1.1% 0.3% (1.8%) 7.2% (3.4%) (0.1%) (2.2%) (0.5%) % Total 58.3% 32.5% 13.7% 12.2% 21.1% 79.5% 20.5% 100% Revenue ($ in millions) Grow Nurture Harvest Subtotal Other (1) Total Business (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. 3Q23 Q/Q% Change % Total $1,125 (1.1%) 38.9% $865 (0.5%) 29.9% (3.8%) $690 $2,680 (1.6%) 92.6% $214 23.7% $2,894 23.8% 7.4% (0.1%) 100% Direct Margin (2) ~82% -69% -80% -77% -20% -73% LUMEN

View entire presentation