Lumen Investor Presentation Deck

3Q 23 Year-Over-Year Total Reported Revenue Bridge -73% of Decline Due to Post-Closing Commercial Agreements and Divestitures $4,390 3Q22 Reported 20 Issued: October 31, 2023 ~73% (2) i $23 -$571 Post-Closing Commercial Agreements/ Divestitures (1) -$201 Other Declines ($ in millions) $3,641 3Q23 Reported ($ in millions) Business Mass Markets Total Y/Y Change $2,894 (10.1%) 3Q23 $747 $3,641 (36.3%) (17.1%) (1) The Company believes that these figures will allow analysts and investors to understand (i) the amounts associated with the divestitures and the impact that it had on the Company's revenue generating activities in the third quarter of 2022 in relation to the Company's past, but not current or future, financial performance and (ii) the impact that the post-closing agreements have had on the Company's activities in the third quarter of 2023 and its current financial performance. (2) Calculated by combining the impacts from Post-Closing Commercial Agreements and Divestitures and showing them a percent of the total dollar change from 3Q22 Reported Revenue to 3Q23 Reported Revenue. LUMEN

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