Lumen Technologies, Inc.

General

Reconciliation of segment revenue to total operating revenue is below:

Reconciliation of segment EBITDA to total adjusted EBITDA is below:

For additional information on our reportable segments and product and services categories, see Note 3—Revenue Recognition and Note 9—Segment Information to our consolidated financial statements in Item 1 of Part I of this report.

Business Segment

Three months ended March 31, 2025 compared to the three months ended March 31, 2024

Business segment revenue decreased $67 million for the three months ended March 31, 2025 as compared to March 31, 2024. Within each product category for the three months ended March 31, 2025 as compared to the comparable period ended March 31, 2024:

•Grow increased by $77 million, primarily due to an increase of revenue from dark fiber and conduit of $51 million and growth in IP services of $19 million;

•Nurture decreased by $110 million, primarily due to declines in traditional VPN services of $88 million and declines in Ethernet services of $26 million;

•Harvest decreased by $48 million, primarily due to a $43 million decline in legacy voice services; and

•Other increased by $14 million, primarily due to increases in equipment sales revenue of approximately $10 million.

Business segment expense decreased by $65 million for the three months ended March 31, 2025, respectively, as compared to the three months ended March 31, 2024 primarily driven by a decrease of $57 million in employee-related costs due to lower headcount.

Business segment adjusted EBITDA as a percentage of segment revenue was 46% for the three months ended March 31, 2025 and 45% for the three months ended March 31, 2024.

Mass Markets Segment

Three months ended March 31, 2025 compared to the three months ended March 31, 2024

Mass Markets segment revenue decreased $41 million for the three months ended March 31, 2025, respectively, as compared to the three months ended March 31, 2024. More specifically, within each product category:

•Fiber Broadband revenue increased $39 million, primarily driven by growth in the number of fiber customers associated with our continued increase in enabled locations from our Quantum Fiber buildout;

•Other Broadband revenue decreased $58 million, primarily due to fewer customers for our lower speed copper-based broadband services; and

•Voice and Other decreased $22 million, principally due to the continued loss of copper-based voice customers.

Mass Markets segment expense decreased $39 million for the three months ended March 31, 2025, respectively, as compared to the three months ended March 31, 2024, primarily driven by decreases of $18 million in employee-related costs due to lower headcount, $5 million in marketing and advertising expense and $5 million in other network related costs.

Mass Markets segment adjusted EBITDA as a percentage of segment revenue was 58% for the three months ended March 31, 2025 and 55% for the three months ended March 31, 2024.