Lumen/Qwest launch exchange offers for ~$1.64B of notes; plan to delist old notes

Lumen Technologies, Inc.

Exchange offers for $977.5M of 6.5% notes due 2056 and $660M of 6.75% notes due 2057.
Early exchange consideration: $25 principal + $0.0625 cash per $25; standard: $24.25 principal.
Early participation deadline May 8, 2026; offers expire May 26, 2026.
Qwest intends to delist old notes from NYSE (~April 30 Form 25, effective ~May 11) and deregister.
Lumen provides full unconditional guarantee of the new notes on an unsecured basis.

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