Verizon 2020 ESG Report

1 Verizon Environmental, Social and Governance (ESG) Report 2020 Verizon 2020 ESG ReportAppendixApproachSocialCommunitySAS B indexGovernanceEnvironmentalTable of contentsApproachMessage from our Chairman and Chief Executive Officer ..2 Our ESG strategy ..5 Supporting the achievement of the UN SDGs ..8 Engaging collaboratively ..17 Earning trust with transparent reporting ..19 CommunityCitizen Verizon ..82 Digital Inclusion ..83 Climate Protection ..91 Human Prosperity ..91 EnvironmentalTackling climate change ..33 Our path to net zero ..34 Network resiliency ..42 Meeting the challenges of COVID-19.

2 42 Water conservation ..43E-waste: Expanding recycling and reuse ..44 Paper policy ..45 Environment, health and safety management ..45 Tree planting ..46 Verizon s Green Team ..46 Integrating sustainability .. 47 AppendixDefinition of material issues ..105 GRI index ..107UN Global Compact index ..114 GovernanceHow we govern ..21 How we operate ..26 Ethics and compliance ..27 Human rights ..30 SASB index ..95 SocialDigital responsibility ..49 Digital safety ..49 Robocalls ..50 Radio frequency emissions ..52 Open internet ..52 Privacy and data protection ..53 Cybersecurity ..57 SocialHuman capital.

3 59 Moving the world forward together ..59 The Verizon Credo ..59 Employee compensation and benefits ..59 Supporting V Teamers during the COVID-19 pandemic ..61 Diversity across the V Team ..62 Diversity and inclusion ..68 Commitment to racial justice ..70 Veterans ..71 Employee engagement ..72 Learning and development ..74 Safety .. 75 Supply chain ..77 Supplier Code of Conduct ..77 Supplier engagement ..78 Supplier Risk Office ..79 Supplier diversity .. 79 Modern slavery ..80 Conflict minerals ..80 Note: This year s ESG Report covers the calendar year of 2020, and data includes Verizon and Verizon Media unless otherwise 2020 ESG ReportAppendixApproachSocialCommunitySAS B indexGovernanceEnvironmental1 ApproachIn this section:Message from our Chairman and Chief Executive Officer.

4 2 Our ESG strategy ..5 Message from our Chief ESG Officer ..6 Prioritizing our material ESG issues ..7 Materiality assessment ..7 Supporting the achievement of the United Nations Sustainable Development Goals (SDGs) ..8 Engaging collaboratively ..17 Communicating with investors ..17 Exchanging ideas with peers and experts ..17 Listening to consumers ..18 Taking our employees pulse ..18 Earning trust with transparent reporting ..19 Verizon 2020 ESG ReportAppendixApproachSocialCommunitySAS B indexGovernanceEnvironmental2 Message from our Chairman and Chief Executive Officer, Hans Vestberg2020 was a year like no other.

5 As a global community, we faced some of the greatest challenges of our lifetime, and as a company, Verizon navigated obstacles that forced us to alter our ways of working, communicating and operating to keep people connected. At the onset of the COVID-19 pandemic, we took swift and decisive action to protect the health and safety of our employees, to keep our customers and communities connected, to enhance our network during a time of unprecedented demand, and to communicate in real time to our employees, suppliers and partners worldwide via daily live webcasts. We consistently showed up for all of our stakeholders often in creative and resourceful ways as discussed throughout this 2020 ESG Report .

6 Verizon 2020 ESG ReportAppendixApproachSocialCommunitySAS B indexGovernanceEnvironmental3 Verizon s purpose is to create the networks that move the world forward. As we emerge from the COVID-19 pandemic, we must move forward toward an inclusive recovery that lifts our communities to a state of economic, environmental and social advancement that exceeds pre-pandemic levels. COVID-19 placed a spotlight on the inequities in our society. As such, we believe the United Nations Sustainable Development Goals belong at the heart of any COVID-recovery plan in order to attain a socially just and green recovery for all.

7 At their adoption, the Goals were established with a challenging 2030 deadline. With just under 10 years to achieve the Goals, we have a great deal of work still to do. Citizen Verizon , our responsible business plan for economic, environmental and social advancement, reinforces our commitment to addressing the most pressing societal issues of our time the digital divide, climate change and human InclusionAs a society, we ve made vast leaps in our digital transformation, creating extraordinary opportunity, but also increased vulnerability for those who are not currently connected. The COVID-19 pandemic has shown how basic activities like learning, working, transacting and socializing rely on meaningful connectivity.

8 But far too many people are missing out on the opportunities of the digital economy because they lack reliable, affordable access or face challenges using technology. We re working with communities and government to help tackle this issue by expanding digital access with affordable and accessible products and services, promoting digital literacy with innovative programs directed toward underserved communities and urging holistic and broad solutions to address the digital divide. Verizon immediately recognized the urgency for school districts to quickly and seamlessly secure connectivity for students to participate in remote learning during the pandemic.

9 We launched a new, national Verizon Distance Learning program, where we have partnered with independent school districts and state departments of education to deliver 4G LTE wireless connectivity, devices and other solutions to students nationwide. In particular, we are providing K-12 institutions with reliable connectivity, devices ( , hotspots/MiFi units), mobile device management and other security/compliance apps that school districts rely on to support distance learning at significantly discounted rates. By the end of 2020, discounted internet access, devices and security solutions were available for purchase by school districts to support distance learning across 41 states and the District of Columbia.

10 But this is just the believe digital inclusion will be one of the defining issues of our time and that it is now or never to take action. Working with the World Economic Forum, I am proud to Chair the new EDISON Alliance. This groundbreaking global movement aims to mobilize industry sectors to quicken the pace of digital development and accelerate the opportunity for every person to participate in the digital economy. This is the moment for leaders across all sectors to join forces behind the idea that access to and affordability of digital services is a top priority not just for recovery, but for growth and believe digital inclusion will be the defining issue of our time and that it is now or never to take action.