Exhibit 99.2
Lumen Technologies, Inc. Announces Pricing of its 7.500% Senior Notes Due 2037
DENVER, May 6, 2026 — Lumen Technologies, Inc. (“Lumen,” “us,” “we” or
“our”) (NYSE: LUMN) today announced that its wholly-owned subsidiary, Level 3 Financing, Inc. (“Level 3 Financing”), has agreed to sell $1 billion aggregate principal amount of its 7.500% Senior Notes due 2037
(the “Notes”).
The Notes were priced to investors at a price of 100.000% of their aggregate principal amount and will mature on
February 15, 2037. Upon issuance, the Notes will be fully and unconditionally guaranteed, jointly and severally, on an unsubordinated and unsecured basis by Level 3 Parent, LLC, the direct parent of Level 3 Financing, and certain
unregulated subsidiaries of Level 3 Financing.
Level 3 Financing intends to use a portion of the net proceeds from this offering to fund the
purchase of its, Lumen’s and Qwest Capital Funding’s (“QCF”) unsecured notes (collectively, the “Existing Group Tender Notes”) pursuant to a concurrent cash tender offer by Level 3 Financing, Lumen, and QCF
to purchase their respective series of Existing Group Tender Notes pursuant to and on the terms and subject to the conditions set forth in an offer to purchase dated May 6, 2026 (the “Statement”) and to pay related fees and
expenses. To the extent not applied to purchase the Existing Group Tender Notes in the Tender Offers and to pay related fees and expenses, Level 3 Financing intends to use the net proceeds for general corporate purposes. The offering of the
Notes is expected to be completed on May 21, 2026, subject to the satisfaction or waiver of customary closing conditions.
The Notes will not be
registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws in the United States and may not be offered or sold in the United States absent registration or an exemption from the applicable
registration requirements. Accordingly, the Notes are being offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A promulgated under the Securities Act and to non-U.S. persons outside the United States in accordance with Regulation S promulgated under the Securities Act. The Notes will not have registration rights.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, the Notes, nor will there be any sale of the Notes in any
jurisdiction in which such offer, solicitation or sale would be unlawful. This press release does not constitute an offer to buy or the solicitation of an offer to sell any Existing Group Tender Notes, nor will there be any purchase of Existing
Group Tender Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Lumen Technologies
Lumen is unleashing the world’s digital potential. We ignite business growth by connecting people, data, and applications – quickly, securely, and
effortlessly. As the trusted network for AI, Lumen uses the scale of our network to help companies realize AI’s full potential. From metro connectivity to long-haul data transport to our edge cloud, security, managed service, and digital
platform capabilities, we meet our customers’ needs today and as they build for tomorrow.
Lumen and Lumen Technologies are registered trademarks of
Lumen Technologies, Inc. in the United States. Level 3 Financing, Inc. and Qwest Capital Funding, Inc. are wholly owned affiliates of Lumen Technologies, Inc.
Forward-Looking Statements
Except for historical and
factual information, the matters set forth in this release and other of our oral or written statements identified by words such as “estimates,” “expects,” “anticipates,” “believes,”
“plans,” “intends,” and similar expressions are forward-looking statements. These forward-looking statements are not guarantees of future results and are based on current expectations only, are inherently speculative, and are
subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. Actual events and results may differ