Verizon Communications Inc. announced the commencement of private offers to exchange the 8 outstanding series of notes maturing from 2024 through 2026, in each case, for newly issued notes of Verizon due 2032, on the terms and subject to the conditions set forth in an offering memorandum dated September 2, 2021. The Offering Memorandum and the accompanying eligibility letter constitute the Exchange Offer Documents. The Exchange Offers will expire at 5:00 pm Eastern time on October 1, 2021, unless extended or earlier terminated. Eligible Holders must validly tender their Old Notes at or prior to 5:00 pm Eastern time on September 16, 2021, unless extended or earlier terminated. Eligible Holders who validly tender their Old Notes after the applicable Early Participation Date, but at or prior to the applicable Expiration Date, will be eligible to receive the applicable Exchange Price for any such series accepted, which is equal to the Total Exchange Price minus the applicable Early Participation Payment. Verizon is offering to exchange the following outstanding notes for the New Notes in an aggregate principal amount not to exceed the New Notes Cap: 4.150% notes due 2024; 0.750% notes due 2024; Floating Rate notes due 2024; 3.500% notes due 2024; 3.376% notes due 2025; 0.850% notes due 2025; 1.450% notes due 2026; 2.625% notes due 2026. The New Notes will mature on March 15, 2032 and will bear interest at a rate per annum that will be equal to the sum of the yield of the 1.250% U.S. Treasury Security due August 15, 2031, as calculated by the lead dealer managers in accordance with standard market practice and as described in the Offering Memorandum, plus 100 basis points, such sum rounded to the third decimal place when expressed as a percentage. Pursuant to the Minimum Issue Requirement, Verizon will not complete the Exchange Offers if the aggregate principal amount of New Notes to be issued on the Early Settlement Date would be less than $1.0 billion.