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Small Shareholder Program

Small Shareholder Program

CenturyLink Voluntary Sale and Purchase Program for Small Shareowners
12/24/18

CenturyLink has initiated a program to provide its small shareowners with a convenient way either to round their CenturyLink holdings up to 100 shares or to sell all their shares.

Similar so-called odd-lot programs are commonly offered periodically by public companies to reduce administrative costs and offer a service to investors.

This current program will be independently administered by Georgeson, a Computershare company. Computershare Trust Company, N.A., which is CenturyLink’s transfer agent, will serve as paying agent for the program.

CenturyLink will not buy or sell any of the shares pursuant to the program.

The program is completely voluntary. It is intended to help owners of fewer than 100 CenturyLink shares who may have been deterred from selling their CenturyLink shares or buying additional shares because of the inconvenience or the cost of commissions.

Shareowners participating in the program will be assessed a processing fee of $3.00 per share purchased or sold, with a maximum fee of $65.00 per account. Shareowners who have lost or misplaced stock certificates will also be permitted to participate in the program for an additional fee of three percent of the value of the missing shares to cover the required indemnity bonding and filing fee. This additional fee will be deducted from the proceeds of the sales made pursuant to the program.

The program will run for two periods – an initial period and an extension period. Georgeson will mail the initial period notice to eligible registered shareowners on December 24, 2018 and such shareholders will have through January 25, 2019 to participate during the initial period. Georgeson will mail the extension period notice to eligible registered shareholders on January 28, 2018 and such shareholders will have through February 22, 2019 to participate during the extension period. Shares held in the company's employee benefit plans are excluded from this program.

CenturyLink shareowners can call Georgeson at 1-888-836-9716 for additional information.