Barclays Capital

Lowell McAdamPresident & CEOVerizon Wireless

May 26, 2010

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Verizon WirelessNOTE: This presentation contains statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. For those statements, which may include or be preceded by such words as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,”“estimates” and similar expressions, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. We assume no obligation to update or revise any forward-looking statement. The following important factors, in addition to those discussed under “Risk Factors” in our Annual Report on Form 10-K (No. 333-160446), could affect future results and could cause those results to differ materially from those expressed in the forward-looking statements: changes in economic conditions; our ability to complete transactions relating to acquisitions and dispositions, including the integration of the Alltel business; changes in the ratings of our debt securities or those of Verizon Communications; adverse conditions in the credit markets impacting cost or availability of financing sufficient to meet our capital requirements; our ability to acquire and retain customers; our continued provision of satisfactory service to our customers at an acceptable price; the effects of competition; our ability to adapt to changing conditions in the wireless industry; the ability of our key suppliers to meet their obligations to us; the effects of material changes in available technology, including technology substitution and the cost of deployment; the impact of continued unionization efforts with respect to our employees; adverse regulatory and taxation developments; the effects of litigation; the impact of equipment failures, natural disasters, terrorist acts or other breaches of network or information technology security; and the effects of any required future changes in accounting assumptions.

“Safe Harbor” Statement

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2010 Focus Areas

• Balance growth and profitability• Grow market share• Expand data penetration & revenue• Commercialize LTE

Wireless

Focused on creating shareholder value 3

Revenue & Profitability

Total Data Revenue ($B)

Service Revenue ($B)

$13.1 $13.8

1Q '09 1Q '10

5.9% Y/Y Growth

TotalData ARPU

$3.6$4.6

$14.16 $16.71

1Q '09 1Q '10

26.4% Y/Y Growth

$52.29 $52.61

1.14% 1.07%

1Q '09 1Q '10

Retail Postpaid ARPU

Retail Postpaid

Churn

Service EBITDA Margin46.0% 46.0%

1Q '09 1Q '10

Sustaining strong profitability and cash generation4

WIRELESS

Iconic Devices

Best Network

Popular Apps/OS

++

DROID by Motorola 

DROID Eris by HTC

DROID Incredible by HTC

Integrated Google Apps

5x More 3G Coverage

DROID Reshapes Smartphone Landscape

Drives smartphone adoption, network usage, loyalty5

The Incredible Smartphone“The Droid Incredible by HTC is an absolutely amazing device. The most powerful phone on the U.S. market today, it reflects and enhances the state of the art smartphone, with the full backing and support of the Verizon Wireless network. “

~PC Mag.com Sascha Segan

“The Droid Incredible by HTC is an absolutely amazing device. The most powerful phone on the U.S. market today, it reflects and enhances the state of the art smartphone, with the full backing and support of the Verizon Wireless network. “

~PC Mag.com Sascha Segan

“The Incredible is probably the best smartphone you can currently buy…and the Verizon network is just as strong and pervasive as the ads claim.”

~ Dallas Morning News

“The Incredible is probably the best smartphone you can currently buy…and the Verizon network is just as strong and pervasive as the ads claim.”

~ Dallas Morning News

“It's hands-down Verizon's best smartphone, and one of the best and fastest Android devices on the market right now, so much so that we deem it worthy of our Editors' Choice award.” ~CNET Bonnie Cha

“It's hands-down Verizon's best smartphone, and one of the best and fastest Android devices on the market right now, so much so that we deem it worthy of our Editors' Choice award.” ~CNET Bonnie Cha

EDITORS’ CHOICE: CNET, Laptop, PC Mag.com, Engadget.

EDITORS’ CHOICE: CNET, Laptop, PC Mag.com, Engadget.

Growth engine for DROID platform6

Best Spectrum: 700 MHz License Map

012345678

5 x 5Competitor

10 x 10VzW

Mbps

The only carrier with contiguous 4G spectrum

Competitive advantage7

Average Throughput

Broadcast powersame across frequencies

Each frequency has a differentrate of energy decay, with higher frequencies decaying faster

Relative Distance 1x

2500 MHZ BRS

1.3x

1900 MHZPCS

2.9x

800 MHZCellular

3.5x

700 MHZ LTE

1.18x

2100 MHZAWS

700MHz Delivers Superior Building Penetration Advantages

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Capital Efficiency Advantages

EV-DO LTE

Costper MB

Cost-effective growth 9

• LTE technology• Global scale & ecosystem• Lower frequencies enhance

network performance• Increased in-building

penetration• Depth of existing cell sites

allows efficient deployment of LTE

Throughput (Average, Downlink Mbps)

0

1

2

3

4

5

6

7

8

2G (1XRTT) 3G (EvDO) 4G (LTE)

Latency (msec)

050

100150200250300350400450500

2G (1XRTT) 3G (EvDO) 4G (LTE)

Significant performance enhancements10

Speed, Low-latency Advantages

• 2010: PC cards, dongles• 1H 2011: 3-5 devices

YE 2010: 100 M POPs

2012: 200 M POPs

YE 2013: 285+ M POPs

First and best LTE network11

Rapid National Rollout

4G Ecosystem

Joint Innovation Lab Verizon Developer Community

Service Delivery Platform

Open Development Innovation Center

Wireless chip

technologyHosted

applications

Global

Speed, latency = new “connections” possibilities12

Driving the Ecosystem

LTE: Putting It All Together

• Competitive Advantage

• Cost-effectiveGrowth

• Fuels Ecosystem

• 700 MHz Footprint +

• Propagation Advantages

+ • Speed, Low Latency

+• Capital Efficiency

Focused on creating shareholder value 13

Barclays CapitalLowell McAdamPresident & CEOVerizon Wireless

May 26, 2010