Verizon to redeem debt securities on June 29, 2020

NEW YORK – Verizon Communications Inc. (“Verizon”) (NYSE, NASDAQ: VZ) today announced that it will redeem the following notes on June 29, 2020 (the “Redemption Date”):

The redemption price for the 4.60% Notes will be equal to the greater of (i) 100% of the principal amount of the 4.60% Notes being redeemed, or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the 4.60% Notes being redeemed (exclusive of interest accrued to the Redemption Date), as the case may be, discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the 4.60% Notes) plus 25 basis points (the “4.60% Notes Redemption Price”), plus, in either case, accrued and unpaid interest on the principal amount being redeemed to but excluding the Redemption Date. The 4.60% Notes Redemption Price will be calculated in accordance with the terms of the 4.60% Notes on the third Business Day (as defined in the 4.60% Notes) preceding the Redemption Date.

The redemption price for the 3.125% Notes will be equal to the greater of (i) 100% of the principal amount of the 3.125% Notes being redeemed, or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the 3.125% Notes being redeemed (exclusive of interest accrued to the Redemption Date), discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the 3.125% Notes) plus 20 basis points (the “3.125% Notes Redemption Price”), plus, in either case, accrued and unpaid interest on the principal amount being redeemed to the Redemption Date. The 3.125% Notes Redemption Price will be calculated in accordance with the terms of the 3.125% Notes on the third Business Day (as defined in the 3.125% Notes) preceding the Redemption Date.

Questions relating to the notice of redemption and related materials should be directed to the paying agent: U.S. Bank National Association, Attn: Corporate Trust Services, 111 Fillmore Ave E, St. Paul, MN 55107, or via telephone at 1-800-934-6802.