Lumen completes $5.75B fiber sale to AT&T; pro forma net loss widens to $1.87B for 9M 2025

Lumen Technologies, Inc.

Net cash proceeds of ~$5.72B from sale of Mass Markets fiber-to-the-home business in 11 states.
Used ~$4.76B of proceeds to prepay superpriority notes and term loans, reducing long-term debt to $12.9B pro forma.
Pro forma net loss for nine months ended Sep 30, 2025: $1.87B vs historical $1.737B, after removing FttH revenue of $575M.
Pro forma net loss for FY2024: $99M vs historical $55M, after removing FttH revenue of $660M.
Non-cash revenue of $5M (9M 2025) and $7M (FY2024) from off-market IRU amortization included in pro forma adjustments.

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