1 Verizon Political Activity January – June 2018 A Message from Craig Silliman Verizon is affected by a wide variety of government policies -- from telecommunications regulation to taxation to health care and more -- that have an enormous impact on the business climate in which we operate. We owe it to our shareowners, employees and customers to advocate public policies that will enable us to compete fairly and freely in the marketplace. Political contributions are one way we support the democratic electoral process and participate in the policy dialogue. Our employees have established political action committees at the federal level and in 18 states. These political action committees (PACs) allow employees to pool their resources to support candidates for office who generally support the public policies our employees advocate. This report lists all PAC contributions, corporate political contributions, support for ballot initiatives and independent expenditures made by Verizon and its affiliates during the first half of 2018. The contribution process is overseen by the Corporate Governance and Policy Committee of our Board of Directors, which receives a comprehensive report and briefing on these activities at least annually. We intend to update this voluntary disclosure twice a year and publish it on our corporate website. We believe this transparency with respect to our political spending is in keeping with our commitment to good corporate governance and a further sign of our responsiveness to the interests of our shareowners. Craig L. Silliman Executive Vice President, Public Policy and General Counsel 2 Verizon Political Activity January – June 2018 Political Contributions Policy: Our Voice in the Democratic Process What are the Verizon Political Action Committees? regulations govern many aspects of the contributions process including the setting of monetary contribution limitations and The Verizon Political Action Committees (PACs) exist to help the establishment of periodic reporting requirements. Verizon the people of Verizon participate in America’s electoral strictly follows all state and federal reporting and other political process and support the public policies important to our future action committee requirements and restrictions. as a company. Through the PACs, employees voluntarily join together to contribute to political campaigns and effectively participate in the electoral process. Does Verizon also make corporate political contributions? Yes, corporate political contributions are made to What is the mission of the Verizon Political Action organizations and to candidates for state offices where Committees? permitted by law. Each year, an overall contribution budget is established. In order to ensure consistency with company The Verizon Political Action Committees’ mission is to advance policy, all requests for corporate contributions must be and protect the future of Verizon and its employees. The submitted for formal approval by the regional vice president, Verizon PACs’ interest is not in partisan politics. Instead, Verizon Legal, and the Senior VP for State Government through the PACs, we are able to stand together to help Relations or Senior VP for Public Policy. Advance approval government officials and elected leaders understand our must be obtained for cash contributions to individuals or business, our issues and our concerns. organizations able to receive corporate contributions, use of corporate facilities, discounts, or other items having monetary How are Verizon Political Action Committee contributions value. made? In order to confirm consistency with company policy, How are candidates selected? candidates and committees who are recommended to receive Proper recipients of company political contributions and PAC support are approved by the state and federal PAC disbursal contributions include candidates for political office or committees. These committees are comprised of Verizon organizations that support candidates for political office and employees who understand our business and policies and are ballot initiatives. Candidates and other organizations being familiar with the political process and the candidates for state considered for contributions from the PACs and the company and federal office. A listing of the Officers and the Disbursal are evaluated on a number of criteria, including their votes and Committee of the Verizon Federal PAC follows this discussion. positions on issues of importance to Verizon, which may include issues affecting the business community in general or Are the Verizon Political Action Committees required to the communications industry specifically, including issues adhere to any government reporting requirements? such as communications policy, tax policy, and other policies relating to employment and economic growth. All The Verizon PACs are political committees organized under contributions are made to promote the interests of the federal and applicable state election laws. As such, the PACs company and its employees and are made without regard to are subject to numerous requirements established by the the private political interests of management. statutes and the government agencies administering the federal and individual state election laws. These rules and 3 Verizon Political Activity January – June 2018 Verizon Federal Political Action Committee Officers Disbursal Committee Kathleen Grillo - Chairman Robert Fisher - Chairman 1300 I Street, NW 1300 I Street, NW Washington, DC 20005 Washington, DC 20005 Robert Fisher - Vice Chairman Leecia Eve 1300 I Street, NW 140 West Street Washington, DC 20005 New York, NY 10007 Taylor Craig - Treasurer Kathleen Grillo 1300 I Street, NW 1300 I Street, NW Washington, DC 20005 Washington, DC 20005 Regi Simpson - Assistant Treasurer Anthony Lewis 1300 I Street, NW 1300 I Street, NW Washington, DC 20005 Washington, DC 20005 Lydia Pulley 703 E Grace Street Richmond, VA 23219 Taylor Craig - Non-Voting 1300 I Street, NW Washington, DC 20005 David Kass - Non-Voting One Verizon Way Basking Ridge, NJ 7920 4 Verizon Political Activity January – June 2018 5 Verizon Political Activity January – June 2018 CALIFORNIA PAC Contributions to Party Organizations, PACs and Other Groups Bay Area Legislative Leaders PAC ...................................................................................................................................................................................... $ 2,500 DELAWARE PAC Contributions to Party Organizations, PACs and Other Groups Democrats 2018 (DE) ........................................................................................................................................................................................................................ $ 125 DISTRICT OF COLUMBIA PAC Contributions to Candidate Committees (Office Sought) Chair. Phil Mendelson (DC City Council) ........................................................................................................................................................................... $ 1,500 Cnclm Anita Bonds (DC City Council) ................................................................................................................................................................................. $ 1,000 Contributions to Party Organizations, PACs and Other Groups DC Chamber of Commerce (DC) ........................................................................................................................................................................................... $ 1,100 FEDERAL PAC – VERIZON Contributions to Candidate Committees (Office Sought) Rep. Kevin John Cramer (US Senate - ND) ..................................................................................................................................................................... $ 2,000 Sen. Vancampen Taylor (US House - TX 3) .................................................................................................................................................................... $ 2,500 Rep. Devin G. Nunes (US House - CA 22) ........................................................................................................................................................................ $ 5,000 Rep. Erik Paulsen (US House - MN 3) .................................................................................................................................................................................. $ 1,000 Rep. Erik Paulsen (US House - MN 3) ..................................................................................................................................................................................... $ 500 Rep. G. Mike J. Kelly (US House - PA 16) ........................................................................................................................................................................... $ 2,500 Rep. Jacqueline Walorski (US House - IN 2) .................................................................................................................................................................... $ 1,000 Rep. James R. Comer, Jr. (US House - KY 1) .................................................................................................................................................................... $ 1,000 Rep. Katherine Anne Castor (US House - FL 14) .........................................................................................................................................................