Lumen Technologies, Inc.

Additionally, for the three months ended March 31, 2026, aggregate losses of $226 million resulting from early debt retirements are reflected in the Lumen Historical column.

SEC original ↗Lumen Technologies, Inc. — Earnings release (8-K exhibit)EX-99May 20, 2026

("Alkira") and manage associated risk; our ability to successfully and timely realize the anticipated benefits from our 2022 and 2023 divestitures, our 2024 debt modification and extinguishment transactions, our 2025 debt refinancing transactions, our 2026 exchange offers, consent solicitations and refinancing transactions, in each case as described in our prior reports filed with the U.

SEC original ↗Lumen Technologies, Inc. — 10-Q Quarterly report10-QMay 5, 2026

22 Table of Contents Note 5 Long-Term Debt and Credit Facilities As of March 31, 2026, substantially all of our outstanding consolidated debt had been incurred by us or one of the following three subsidiaries, each of which has borrowed funds either on a standalone basis or as part of a separate restricted group with certain of its subsidiaries: Level 3 Financing, Inc.

SEC original ↗Lumen Technologies, Inc. — 10-Q Quarterly report10-QMay 5, 2026

Each of these borrowers or borrowing groups has entered into a credit agreement with certain financial institutions or other institutional lenders or issued senior notes.

SEC original ↗Lumen Technologies, Inc. — 10-Q Quarterly report10-QMay 5, 2026

Certain of these debt instruments are described further below or in Note 7 Long-Term Debt and Credit Facilities to the consolidated financial statements included in Item 8 of Part II of our Annual Report on Form 10-K for the year ended December 31, 2025.

SEC original ↗Lumen Technologies, Inc. — 10-Q Quarterly report10-QMay 5, 2026

23 Table of Contents The following table reflects the consolidated long-term debt of Lumen Technologies, Inc.

SEC original ↗Lumen Technologies, Inc. — 10-Q Quarterly report10-QMay 5, 2026

We may change our intentions, strategies, or plans (including our capital allocation plans) at any time and without notice, based upon any changes in such factors or otherwise, and we undertake no obligation to make any public announcement of such changed intentions, except to the extent required by applicable law.

SEC original ↗Lumen Technologies, Inc. — 10-Q Quarterly report10-QMay 5, 2026

Reclassifications In the first quarter of 2026, we updated our product category framework for Business revenue, eliminating the previously disclosed Grow, Nurture, Harvest, and Other categories and replacing them with Strategic and Legacy categories.

SEC original ↗Lumen Technologies, Inc. — 10-Q Quarterly report10-QMay 5, 2026

Legal Proceedings 65 Item 1A.

SEC original ↗Lumen Technologies, Inc. — 10-Q Quarterly report10-QMay 5, 2026

These forward-looking statements involve substantial risks and uncertainties.

SEC original ↗Lumen Technologies, Inc. — 10-Q Quarterly report10-QMay 5, 2026

These forward-looking statements, and the assumptions upon which they are based, (i) are not guarantees of future results and are based on current expectations only, (ii) are inherently speculative, and (iii) are subject to a number of risks and uncertainties, many of which are beyond our control.

SEC original ↗Lumen Technologies, Inc. — 10-Q Quarterly report10-QMay 5, 2026

Actual events and results may differ materially from those anticipated, estimated, projected, or implied by us in those statements if one or more of these risks or uncertainties materialize, or if our underlying assumptions prove incorrect.

SEC original ↗Lumen Technologies, Inc. — 10-Q Quarterly report10-QMay 5, 2026

Given these uncertainties, investors are cautioned not to unduly rely upon our forward-looking statements, which speak only as of the date made.

SEC original ↗Lumen Technologies, Inc. — 10-Q Quarterly report10-QMay 5, 2026