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Verizon Increases Waterfall Cap In Connection With Group 1 Offers - Quick Facts

Verizon Communications Inc. (VZ) announced that, in connection with the Group 1 offers, the Group 1 Waterfall Cap will be increased such that all of the 2.946% Notes due 2022 validly tendered and not validly withdrawn at or prior to the early participation date will be accepted.

Verizon also announced the early participation results on March 16, 2018 of its previously announced 13 separate offers to purchase for cash: the "Group 1 Notes", and the "Group 2 Notes. The withdrawal rights for the offers expired on March 16, 2018. The offers will each expire on March 30, 2018.

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