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1、April 22,20251Q 2025Earnings2In this presentation we have made forward-looking statements.These statements are based on our estimates and assumptions and are subject to risks and uncertainties.Forward-looking statements include the information concerning our possible or assumed future results of ope

2、rations.Forward-looking statements also include those preceded or followedby the words anticipates,assumes,believes,estimates,expects,forecasts,hopes,intends,plans,targets or similar expressions.For those statements,we claim theprotection of the safe harbor for forward-looking statements contained i

3、n the Private Securities Litigation Reform Act of 1995.We undertake no obligation to revise or publiclyrelease the results of any revision to these forward-looking statements,except as required by law.Given these risks and uncertainties,readers are cautioned not to place unduereliance on such forwar

4、d-looking statements.The following important factors,along with those discussed in our filings with the Securities and Exchange Commission(the SEC),could affect future results and could cause those results to differ materially from those expressed in the forward-looking statements:the effects of com

5、petition in the markets inwhich we operate,including the inability to successfully respond to competitive factors such as prices,promotional incentives and evolving consumer preferences;failure to takeadvantage of,or respond to competitors use of,developments in technology,including artificial intel

6、ligence,and address changes in consumer demand;performance issues ordelays in the deployment of our 5G network resulting in significant costs or a reduction in the anticipated benefits of the enhancement to our networks;the inability to implementour business strategy;adverse conditions in the U.S.an

7、d international economies,including inflation and changing interest rates in the markets in which we operate;changes tointernational trade and tariff policies and related economic and other impacts;cyberattacks impacting our networks or systems and any resulting financial or reputational impact;dama

8、ge to our infrastructure or disruption of our operations from natural disasters,extreme weather conditions,acts of war,terrorist attacks or other hostile acts and any resultingfinancial or reputational impact;disruption of our key suppliers or vendors provisioning of products or services,including a

9、s a result of geopolitical factors or the potential impactsof global climate change;material adverse changes in labor matters and any resulting financial or operational impact;damage to our reputation or brands;the impact of publichealth crises on our business,operations,employees and customers;chan

10、ges in the regulatory environment in which we operate,including any increase in restrictions on our abilityto operate our networks or businesses;allegations regarding the release of hazardous materials or pollutants into the environment from our,or our predecessors,network assetsand any related gove

11、rnment investigations,regulatory developments,litigation,penalties and other liability,remediation and compliance costs,operational impacts or reputationaldamage;our high level of indebtedness;significant litigation and any resulting material expenses incurred in defending against lawsuits or paying

12、 awards or settlements;an adversechange in the ratings afforded our debt securities by nationally accredited ratings organizations or adverse conditions in the credit markets affecting the cost,including interestrates,and/or availability of further financing;significant increases in benefit plan cos

13、ts or lower investment returns on plan assets;changes in tax laws or regulations,or in theirinterpretation,or challenges to our tax positions,resulting in additional tax expense or liabilities;changes in accounting assumptions that regulatory agencies,including the SEC,may require or that result fro

14、m changes in the accounting rules or their application,which could result in an impact on earnings;and risks associated with mergers,acquisitions,divestitures and other strategic transactions,including our ability to consummate the proposed acquisition of Frontier Communications Parent,Inc.and obtai

15、n cost savings,synergies and other anticipated benefits within the expected time period or at all.“Safe Harbor”StatementAs required by SEC rules,we have provided a reconciliation of the non-GAAP financial measures included in this presentation to themost directly comparable GAAP measures in material

16、s on our website at strategic execution with financial discipline in 1Q25On track to deliver on 2025 financial guidance1 Sum of Consumer and Business segments.Reflects the reclassification of recurring device protection and insurance related plan revenues from Other revenue into Wireless service rev

17、enue in the first quarter of 2025.Where applicable,historical results have been recast to conform to the current period presentation.2Non-GAAP measure.3Consists of prepaid net additions,excluding SafeLink.Includes both phone and non-phone net additions,unless otherwise indicated.Recently executed on

18、 the next step of our Consumer business transformation journey with our 3-year price lock and free phone guaranteeStrong financial growth across our key metrics with the best reported quarterly Adjusted EBITDA2everBest core prepaid3net add performance since TracFone acquisitionTotal combined postpai

19、d and core prepaid3phone net adds improved Y/Y;and on track to deliver Y/Y growth in Consumer postpaid phone net adds for full year 2025C-band deployment and fiber build execution ahead of planMarket share growth in broadband with continued execution of our FWA and fiber strategy1Q25$20.8B+2.7%Y/Y$1

20、2.6B+4.0%Y/Y$3.6B+34.3%Y/YWireless Service Revenue1Adjusted EBITDA2Free Cash Flow2Key Highlights 4Operating metricsConsumer retail postpaid phone net adds(K)Note:Where applicable,the operating results reflect certain adjustments.1Consists of prepaid net additions,excluding SafeLink.Includes both pho

21、ne and non-phone net additions,unless otherwise indicated.Broadband net adds(K)Business retail postpaid phone net adds(K)Retail core prepaid1net adds(K)2.4M Wireless retail postpaid phone gross adds(+0.2%Y/Y)1.7M Consumer wireless retail postpaid phone gross adds(-1.0%Y/Y)3.6MWireless postpaid upgra

22、des(-2.2%Y/Y)45KFios internet net addsFixed Wireless AccessWireline(Fios+DSL)Segmentation strategy positions Verizon for success5Total revenue($B)Consolidated financial summary1 Sum of Consumer and Business segments.Reflects the reclassification of recurring device protection and insurance related p

23、lan revenues from Other revenue into Wireless service revenue in the first quarter of 2025.Where applicable,historical results have been recast to conform to the current period presentation.2Non-GAAP measure.Note:Amounts may not add due to rounding.$33.5BTotal revenue(+1.5%Y/Y)$12.6B Adjusted EBITDA

24、2(+4.0%Y/Y)(Adjusted EBITDA margin of 37.5%)2$1.19 Adjusted EPS2(+3.5%Y/Y)Service&otherWireless equipmentTotal Wireless service revenue1($B)1.5%2.7%Strong Wireless service revenue and Adjusted EBITDA growth6Consolidated cash flow summary($in billions)Q1 2024Q1 2025Cash flow from operations$7.1$7.8Ca

25、pital expenditures$4.4$4.1Free cash flow1$2.7$3.6Dividends paid$2.8$2.9Total debtUnsecured debtCash and cash equivalentsNet unsecured debt1$151.7$128.4$2.4$126.0$143.6$117.3$2.3$115.1Net unsecured debt to adjusted EBITDA12.6x2.3x1Non-GAAP measure.Note:Amounts may not add due to rounding.Strong underlying cash flow generation