Lumen Technologies, Inc. secured a new $825 million revolving credit facility on April 14, 2026. This new facility replaces and terminates the previous Superpriority Revolving/Term A Credit Agreement dated March 22, 2024. The revolving credit facility matures on April 14, 2029, subject to a springing maturity clause under certain circumstances. Borrowings bear interest at Term SOFR (with a 0.00% floor) plus 2.75% or a base rate plus 1.75%, with rates subject to adjustment based on Lumen's total net leverage ratio. Lumen itself does not provide security under the Credit Agreement, but certain Lumen subsidiaries (Lumen Guarantors) provide unconditional guarantees, some secured by liens on substantially all their assets. Level 3 Parent, LLC, Level 3 Financing, Inc., and certain Level 3 subsidiaries (Level 3 Collateral Guarantors) provide an unconditional guarantee of up to $150 million, secured by liens on substantially all their assets. Qwest Corporation and its subsidiaries (Qwest Guarantors) provide an unsecured guarantee of collection. Financial covenants, effective from the fiscal quarter ending June 30, 2026, include a maximum total net leverage ratio not to exceed 5.25 to 1.00 and a minimum interest coverage ratio not to be less than 2.00 to 1.00. Proceeds from the facility are designated for general corporate purposes, including working capital, capital expenditures, permitted business acquisitions, dispositions, dividends, distributions, and the back-up or replacement of existing letters of credit.