Lumen Technologies (LUMN) Corporate presentation summary

Strategic vision and transformation

• Accelerating from turnaround to growth by expanding the physical network, scaling digital services, and building a connected ecosystem with technology partners for high-value solutions.

• Focused on delivering AI-ready, cloud-scale networking for large enterprises, midsize businesses, public sector, and wholesale customers.

• Mission centers on igniting business growth by connecting people, data, and apps quickly, securely, and effortlessly.

• Transitioning from legacy telecom to a digital network services company purpose-built for the AI economy.

Network and technology investments

• Investing in physical network expansion, including 49 new routes, 18 expanded capacity routes, and 139 data centers with 90% coverage by end of 2026.

• Programmable, software-defined network enables on-demand, automated service activation and multi-cloud connectivity.

• The Lumen Platform integrates clouds, carriers, SaaS providers, and customers through a control plane for seamless network operations.

• Capex strategy prioritizes digital platform, network as a service, and connected ecosystem expansion.

Financial performance and goals

• Targeting a return to free cash flow growth, EBITDA inflection by end of 2026, and business revenue growth by 2028.

• Transformed capital structure by reducing ~$5.5B in debt, refinancing $11B, and achieving $200M in annual interest savings.

• Long-term leverage target of 3x to 3.5x net debt/aEBITDA, with continued deleveraging and maturity extensions.

• Digital revenue mix expected to grow, driving margin expansion and reduced capital intensity.

• Long-term guidance projects business revenue growth turning positive in 2028 and aEBITDA margins reaching mid-30% by 2030.