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CenturyLink Reports Fourth Quarter 2019 Results

Fourth Quarter 2019 Highlights
Reported Net Income of $223 million for the fourth quarter 2019; excluding Integration and Transformation Costs and Special Items, reported Net Income of $352 million
Generated Adjusted EBITDA of $2.278 billion for the fourth quarter 2019, excluding $173 million of Integration and Transformation Costs and Special Items
Expanded Adjusted EBITDA margin, excluding Integration and Transformation Costs and Special Items, to 40.9% in the fourth quarter 2019, from 39.8% in the fourth quarter 2018
Generated Net Cash Provided by Operating Activities of $1.909 billion for the fourth quarter 2019
Generated Free Cash Flow of $1.022 billion for the fourth quarter 2019, excluding $53 million of cash paid for Integration and Transformation Costs and Special Items

Full Year 2019 Highlights
Reported Net Loss of $5.269 billion for the full year 2019; excluding Integration and Transformation Costs and Special Items, reported Net Income of $1.409 billion
Generated Net Cash Provided by Operating Activities of $6.680 billion for the full year 2019
Grew full year Adjusted EBITDA to $9.070 billion and generated Free Cash Flow of $3.276 billion, excluding Integration and Transformation Costs and Special Items of $299 million and $224 million, respectively
Reduced Net Debt by approximately $2 billion and reduced leverage to 3.7x Net-Debt-to-Adjusted EBITDA
As of the end of 2019, achieved approximately $430 million of annualized run-rate Adjusted EBITDA cost-transformation savings

MONROE, La., Feb. 12, 2020
CenturyLink, Inc. (NYSE: CTL) reported results for the fourth quarter ended Dec. 31, 2019.
“We made solid progress in 2019 with our fiber-based investments and our transformation initiatives,” said Jeff Storey, president and CEO of CenturyLink. “Our investments not only helped to enhance and expand our fiber network and product portfolio, they enabled us to continue to improve the customer experience. We are well-positioned to support our customers as they transition to next-generation hybrid platforms to meet their networking needs. We are excited about the opportunity we see for profitable revenue growth from ongoing market dynamics, such as the growth in security, IoT, big data, 5G, AI and the demand for edge computing.”

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The following information was filed by Centurylink, Inc (CTL) on Wednesday, February 12, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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