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NEWS RELEASE ● Second Quarter 2021 Highlights Reported Net Income of $ 506 million for the second quarter 2021 , compared to reported Net Income of $ 377 million for the second quarter 2020 LUMEN Lumen Technologies reports second quarter 2021 results Diluted EPS of $ 0.46 for the second quarter 2021 , compared to $ 0.35 per share for the second quarter 2020. Excluding Special Items , Diluted EPS of $ 0.48 per share for the second quarter 2021 , compared to $ 0.39 per share for the second quarter 2020 Generated Adjusted EBITDA of $ 2.109 billion for the second quarter 2021 , compared to $ 2.135 billion for the second quarter 2020 , excluding Special Items of $ 20 million and $ 50 million , respectively Subsequent Events Reported Net Cash Provided by Operating Activities of $ 1.639 billion for the second quarter 2021 Generated Free Cash Flow of $ 1.044 billion for the second quarter 2021 , compared to $ 772 million , excluding cash paid for Special Items of $ 51 million and $ 32 million , respectively Updated guidance for the full year 2021 for both capital expenditures and free cash flow Announced two significant divestiture transactions to accelerate investment in key growth areas Board approved an up to $ 1 billion Stock Repurchase Program over two years DENVER , August 3 , 2021 - Lumen Technologies , Inc. ( NYSE : LUMN ) reported results for the second quarter ended June 30 , 2021 . " Lumen delivered solid Adjusted EBITDA and Free Cash Flow in the second quarter , and we are executing on our strategy to optimize the Lumen asset portfolio , positioning the company for future growth , " said Jeff Storey , president and CEO of Lumen . “ We are well positioned strategically with our significant and accelerating fiber investments across both Business and Mass Markets . " Total revenue was $ 4.924 billion for the second quarter 2021 , compared to $ 5.192 billion for the second quarter 2020 . 1