Verizon to redeem debt securities on June 15, 2020

The redemption price for the 0.500% Notes will be equal to the greater of (i) 100% of the principal amount of the 0.500% Notes being redeemed, or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the 0.500% Notes (exclusive of interest accrued to the Redemption Date), as the case may be, discounted to the Redemption Date on an annual basis (ACTUAL/ACTUAL (ICMA)) at the Comparable Government Bond Rate (as defined in the 0.500% Notes) plus 15 basis points (the “0.500% Redemption Price”), plus accrued and unpaid interest on the principal amount being redeemed to, but excluding, the Redemption Date. The 0.500% Notes Redemption Price will be calculated in accordance with the terms of the 0.500% Notes on the third Business Day (as defined in the 0.500% Notes) preceding the Redemption Date. Annual interest on the 0.500% Notes will be paid on June 2, 2020 to each holder of record on the close of business on May 19, 2020.