Lumen Technologies, Inc.

Filing receipts

“Cash provided by operating activities is subject to variability period over period as a result of timing differences, including with respect to the collection of receivables and payments of interest expense, accounts payable, and bonuses.”

“Other Income, Net Other income, net reflects certain items not directly related to our core operations, including: Three Months Ended March 31, 2026 2025 (Dollars in millions) Pension and post-retirement net periodic expense $ (26) (46) Foreign currency (loss) gain (4) 2 Transition and separation services 41 37 Interest income 14 21 Other 1 16 Total other income, net $ 26 30 Income Tax Expense Our effective tax rate was as follows: Three Months Ended March 31, 2026 2025 (Dollars in millions) Effective tax rate 213.0 % 18.0 % Our effective tax rate for the three months ended March 31, 2026 was driven primarily by tax attributable to nondeductible goodwill from the Mass Markets Fiber-to-the-H...”

“This was primarily as a result of: • cash allocated to operating activities received as part of the divestiture of our Mass Markets Fiber-to-the-Home business associated with the fair value of the contractual credits and commercial agreements described in Note 2—Divestiture; • an offsetting increase in net loss adjusted for non-cash expenses and gains; and • an offsetting decrease in working capital as a result of timing of payments and collections on payables and receivables.”