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The Level 3 Story 2014 Level 3 Communications, LLC. All Rights Reserved. Level 3, Level 3 Communications, MyLevel3, the Level 3 Communications Logo, and the Level 3 Logo, and are either registered service marks or service marks of Level 3 Communications, LLC and/or one of its Affiliates in the United States and/or other countries. Level 3 services are provided by wholly owned subsidiaries of Level 3 Communications, Inc. Microsoft, Lync are either registered trademarks or trademarks of Microsoft Corporation in the United States and/or other countries. Any other service names, product names, company names or logos included herein are the trademarks or service marks of their respective owners.

2014 Level 3 Communications, LLC. All Rights Reserved. Proprietary and Confidential.

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Connecting and Protecting the Networked World 2Click in black box in slideshow view to play video

2014 Level 3 Communications, LLC. All Rights Reserved. Proprietary and Confidential.2Notes: Begin by playing the Brand Video for a company overview and value statement.

Todays Business Drivers and IT ChallengesGlobalization trends continue as customers look for growth from emerging markets particularly in the enterprise spaceRegulatory uncertainty (consumer and healthcare privacy, financial securitization)

Cloud adoption for specific applicationsMobility & the Internet of things including device proliferationBig Data and more information available than ever beforeIP video and TV anywhere changing the supply chain and eco system of content distribution

Cyber threats are at an all time high and only projected to growData protection and privacy are even more important as applications move to the cloud

3Need global sourcing to overcome sub optimal results with local procurement as a result of global operational models and ability to develop solutions that can be replicated in different markets without increasing overall complexityLack of clear risk and compliance guidelines for customer data

Continued pressure to improve efficiency and variablize costsNeed to seamlessly integrate mobile and wired environments and lack of enterprise-grade solutionsNeed for scalable and efficient platform to collect, move, store and harness value of Big DataBandwidth requirements changing and growing exponentiallyGrowing expectations for elastic, on-demand IT resources

Businesses must continually monitor, collect and analyze massive volumes of security event data to avoid breach or failureSmoothly integrated IT platforms and applicationsMaintaining a highly trained, experienced, and certified staffDriversChallengesSECURITYGROWTHEFFICIENCY

2014 Level 3 Communications, LLC. All Rights Reserved. Proprietary and Confidential.3Purpose: This slide begins the discussion with current IT trends and business drivers. Use this slide to validate the customers thinking; inquire whether this aligns with their specific challenges. You can supplemented this with a vertical-specific slide (i.e. healthcare, financial services, etc.) or a slide focused on the customers issues/opportunities.

Notes:The role of IT is changing. Once, IT served in a support role. Now, it is looked to as a strategic contributor as businesses work to deliver a competitive advantage. In the context of the new economics of IT, CIOs must ask themselves and prepare responses on these questions:How can we deliver more value from the investment in IT?How can we help deliver revenue and earnings to the enterprise?How do we ensure that IT systems are reliable and secure?

Globalization particularly in the enterprise space requires IT professionals to look for a partner that can enable growth without increasing complexity.

More collaboration among customers, employees and partners is creating a new IT landscape: one thats based on enabling things like mobility, flexibility and efficiency. Specific to IT, you have an opportunity to leverage next-generation technology like cloud adoption, IP video and TV anywhere and access to scalable and efficient Big Data platforms. You can help fuel organizational growth by impacting the way your business serves existing customers and develops new revenue streams. And with ever increasing cyber threats, you are more challenged than ever to protect your organizations critical information.

In effect, IT is becoming a competitive differentiator.

But with the economy in transition, theres a big premium on results. Youre expected to support growth initiatives while still reducing costs and ensuring a return-on-investment.How is this similar to the challenges youre facing this dual pursuit to leverage technology to support growth initiatives and increase efficiency while ensuring security?

The Level 3 Global Value Proposition4GROWTH

Our solutions help customers grow their businesses faster and expand into new marketsEFFICIENCY

We enable customers to improve the efficiency of their business operationsSECURITY

We provide customers with the peace of mind that their network solutions are secure & reliableCUSTOMER EXPERIENCE EASE OF DOING BUSINESS

ALIGNMENT TO CUSTOMERS BUSINESS MODEL OBJECTIVES

2014 Level 3 Communications, LLC. All Rights Reserved. Proprietary and Confidential.4Our value proposition is built on how we can help our customers grow their businesses and have more efficient operations, in an inherently secure environment. We aim to be the partner of choice with the scale, flexibility and network strength to deliver local-to-global solutions, supporting customers needs for growth, efficiency and security with the human ingenuity to deliver an industry-proven customer experience.

Company Overview5

2014 Level 3 Communications, LLC. All Rights Reserved. Proprietary and Confidential.5Level 3 is a global communications company headquartered in Broomfield, Colorado. We offer a comprehensive portfolio of data, video, voice and unified communications, security, managed and professional services and cloud solutions that leverage our secure, global network. We reach more than 60 countries providing access to a consistently-upgradable platform.

Pending the final close of Level 3s acquisition of tw telecom, the combined company will have nearly $7.9B pro forma LTM Revenue, with more than 13,000 employees to support the needs of our customers.

The foundation of our networks was built to enable next-generation IP technology. And we bring that to our customers with a single mission to provide the best customer experience while being the trusted connection to the networked world.

An End-to-End Global NetworkFiber networks with reach to North America, Latin America, Europe, the Middle East, Africa and the Asia-Pacific regionRoute miles: over 200,000 globallyFiber route miles: over 10 million

Connected by extensive undersea facilities33,000 subsea route miles

Services reaching six continents, in more than 60 countries and counting

6Unique local-to-global connectivity

2014 Level 3 Communications, LLC. All Rights Reserved. Proprietary and Confidential.6Notes:Our global network provides support for worldwide implementations, while our metro footprint delivers extensive localization capabilities. As operators of a large, advanced IP network, our company delivers connectivity at the backbone of todays interconnected, global economy. With owned fiber networks that reach to North America, Latin America, Europe and the Middle East, and Asia Pac, the network profile includes:

Services reach markets globally in more than 60 countries Over 200,000 route miles More than 10 million fiber route miles 33,000 subsea route miles

Level 3 monitors, maintains and manages our network end-to-end, making us better able to support your business needs and better positioned to help deliver scale, efficiency, performance and an enhanced service experience.

A Network Built for Business7Driving growth, efficiency and scalabilityInfrastructure Based on Proven TechnologyBuilt from the ground up for efficiency and scalabilityContinuing to invest and grow to reach your business locationsExpansive global IP transit network

Core Network, Media & IP, Voice & UCC, Security & Cloud, Managed and Professional ServicesMore routes, more diversity and redundancy means higher reliabilityContinuously upgradable networkSecure infrastructure constantly monitored Serving business, content, government and wholesale customersClear views of network elements, segment by segment anytime, anywhere

Level 3 PatentsApproximately 100 issued U.S. patents pertaining to VoIP and voice technologiesApproximately 75 issued U.S. patents pertaining to CDN and content distribution technologiesApproximately 200 issued U.S. patents pertaining to networking and optical transport technologies

2014 Level 3 Communications, LLC. All Rights Reserved. Proprietary and Confidential.7Notes:Level 3s network is built to allow for easy scalability and efficiency. Our network is the vehicle for exceeding the expectations of business customers large and small. Our services are backed by a network maintained for virtually uninterrupted availability and designed for performance. We offer more routes, more diversity and redundancy, which means high reliability and broad reach with a willingness to invest and grow to address your business locations.

Level 3 has seven major network operation centers (NOCs) located in United States and Europe. These geographically dispersed centers offer full redundancy, so even major events are less likely to prevent traffic from reaching its destination. The networks are continually upgraded with the latest equipment and technologies, and are supported by Level 3s experts in network design, security and customer service. The automated, self-healing qualities of the network support our commitment to being there for our customers.

Comprehensive Portfolio8*Available in Latam and EMEA todayManaged & Professional Services

Private Line, Wavelength, and Ethernet TransportIPVPN, VPLS and EVPLConverged Dark Fiber & Managed FiberManaged Network ServicesCloud ConnectivityData CentersManaged Hosting Services*DATA NETWORKSInternet ServicesVyvx SolutionsContent Delivery Network (CDN)CONTENT DISTRIBUTIONVoiceContact CenterUnified Communications & CollaborationAudio, Video and Web conferencing services

VOICE AND UC&CDDoS MitigationSecure AccessManaged SecuritySecurity Consulting

SECURITYWAN OptimizationWebsite AccelerationIntelligent NetworkAPPLICATION PERFORMANCE

2014 Level 3 Communications, LLC. All Rights Reserved. Proprietary and Confidential.Level 3s portfolio of network-based solutions has been developed to deliver powerful IP-based solutions for enterprise, government and wholesale customers around the world.

As IT continues to become a business driver and customers communications challenges accelerate, Level 3 is positioned to navigate the evolving technology landscape to provide solutions for the IT challenges of today and tomorrow.

Specifically:Data Center solutions meet various customer needs, ranging from private line, wavelength and Ethernet transport solutions to IPVPN, VPLS and EVPL solutions to Cloud Connectivity and Data Center Services.Our proven Security solutions address the needs of an ever increasing cyber threat landscape with products such as DDoS (Distributed Denial of Service) solutions to advanced managed security, consulting and threat analytics.Unparalleled content distribution solutions via the Level 3 CDN and Vyvx Solutions.Application performance solutions such as WAN Optimization and Intelligent Network / Dynamic Bandwidth solutions help customers operate more efficiently.IP Voice and Unified Communications solutions address dynamic, growing and mobile workforces.Managed & Professional services based on customer needs help provide the right level of network/solution architecture design, management and consultation.

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Level 3 Solutions Roadmap

2014 Level 3 Communications, LLC. All Rights Reserved. Proprietary and Confidential.

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10Proven Customer Experience

Level 3 desires to be the trusted connection to the networked world, providing global communication solutions to enterprise and wholesale customers with a consistent and reliable global customer experience. Throughout the customer journey, we always strive to continuously improve how we provide what matters most to our customers.Our vision is to deliver a superior customer experience that meets the unique needs of our customers by being reliable, responsive, delivering on our promises and being easy to do business with. We enable our customers to deliver services while growing their own businesses, through the use of our global network, our tools and applications, and leveraging the knowledge and dedication of our global workforce.

Constantly improving to adapt to the needs of our customers

2014 Level 3 Communications, LLC. All Rights Reserved. Proprietary and Confidential.Notes:

A positive customer experience is more than delivering on an order or beating a competitors price. Its part of our culture and a way for all employees to think. We strive to be an industry leader in customer experience by concentrating on how we get to know our customers, how we do business with them and how we are committed to their ongoing success. Level 3 employees, in whatever role, are the key to fostering loyalty and setting us apart from our competition.

Easy to do Business WithThroughout the customer journey, we always strive to continuously improve how we provide what matters most to our customers by identifying and measuring the current state of experience.Our vision is to deliver a superior customer experience that meets the unique needs of our customers by being reliable, responsive, delivering on our promises and being easy to do business with. We enable our customers to deliver services while growing their own businesses, through the use of our global network, our tools and applications, and leveraging the knowledge and dedication of our global workforce.

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Our Online Vision11Convenience, control and confidence to manage your network

Visually rich online experience based on flexible web services platformCustomer focused user interface design and experienceCustom-tailored view across product linesData analytics to deliver customer valueCommon web services infrastructure to deliver portal, API and mobile app viewsScalable and flexible approach to serving customer requirementsNetwork intelligence provides visibility, flexibility and control you need to manage your application performance

2014 Level 3 Communications, LLC. All Rights Reserved. Proprietary and Confidential.11Notes:With anytime, anywhere access, the MyLevel3SM customer portal provides you with the convenience, control and confidence you need to run your business efficiently. We designed the portal to streamline your service management processes and provide the reporting you need to make your job easier saving you time and helping you control costs.With 24 x 7 online access, you get the management tools you need to get the most out of your Level3 Services. With its feature-rich dashboard homepage, the portal gives you an integrated view of your critical account and service information in real time.

BenefitsDashboard homepage centralizes information and functionality for fast and easy access Self-service order, billing, reporting and service management capabilities allow you to monitor, analyze and control your Level3 Services Customized, business-critical information supports your business goals of revenue attainment, cost control and customer satisfaction Enjoy the benefits of the portal whenever and wherever you are, at no cost to you

Portal Features Convenient and Secure Billing: View, download and analyze your Level3 invoices easily, and pay your invoices online (one-time and recurring options available) Dynamic, Precise, Simplified Orders: View order status and track progress for voice, IP, transport and data services Efficient, Simplified Service Management: Create, view, update, escalate or cancel trouble tickets and receive proactive notification of activities across services

The Level 3 Difference12Applied knowledge and capabilities solve our customers unique problemsHelping customers succeed by leveraging our deep industry experience and product solutions tailored to fit our customersReliable and secure network offering the best performance and delivery solutionsLevel 3 optimizes for our customers biggest pain points: efficiency, security and reliability

Global network, products, & operationsWhether its a local service or a global network, Level 3 provides a consistent offering and customer experience that reduces operational complexity for our customers

2014 Level 3 Communications, LLC. All Rights Reserved. Proprietary and Confidential.12Notes:Level 3 enables the worlds most demanding customers to move and protect their critical information around the corner or across the globe by delivering services over our industry-leading network and connecting customers with dedicated, local teams who are focused on providing an industry-leading customer experience.

Level 3 believes that what we deliver is just as important as how we deliver it and the business value it represents to you. We take the customer experience seriously and are united in a mission to provide the very best customer experience imaginable.

Level 3 is growing its dedicated resources to combine local presence with first-hand marketplace knowledge and extensive expertise in the communications industry. Through our comprehensive portfolio of core network, media & IP, voice & UCC, security & cloud, and managed & professional services combined with a reliable and secure IP network and a commitment to serving our customers, Level 3 provides customers with solutions that enable enterprise growth and efficiency in an inherently secure manner.

Appendix

2014 Level 3 Communications, LLC. All Rights Reserved. Proprietary and Confidential.

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Our History14Company Timeline

2014 Level 3 Communications, LLC. All Rights Reserved. Proprietary and Confidential.

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Financial OverviewAccess the most recent customer-facing slides that explain our financial position at:http://salessource.corp.global.level3.com/News/Pages/IR_Center_for_Sales.aspx

Please see Customer Financial Presentation

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2014 Level 3 Communications, LLC. All Rights Reserved. Proprietary and Confidential.

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