Executive Summary We design and deliver the systems, software and services that drive next-generation communications networks. Backed by Bell Labs investigate and development, we use our strengths in mobility, optical, access, data and voice networking technologies, as well as services, to make new revenue-generating opportunities for our customers, while enabling them to quickly install and better manage their networks. Our consumer base includes communications service providers, governments and enterprises worldwide. We have three segments organized around the harvest and services we sell. The reportable segments are Integrated Network Solutions (“INS”), Mobility Solutions (“Mobility”) and Lucent Worldwide Services (“Services”). INS provides a broad range of software and wireline equipment related to voice networking (primarily consisting of switching harvest, which we sometimes refer to as convergence solutions, and voice messaging harvest), data and network management (primarily consisting of access and related data networking equipment and operating support software) and optical networking. Mobility provides software and wireless equipment to support radio access and core networks. Services provides deployment, maintenance, professional and managed services in support of both our product offerings as well as multi-vendor networks. Commencement in fiscal 2001, the global telecommunications market deteriorated, resulting from a decrease in the competitive local exchange carrier market and a significant reduction in capital spending by established service providers.This trend intensified during fiscal 2002 and continued into fiscal 2003. Reasons for the market deterioration built-in general economic slowdown, network overcapacity, consumer bankruptcies, network build-out delays and limited availability of capital. We judge that the market for telecommunications equipment has stabilized and is starting to grow in certain areas. The growing demands of enterprises and consumers for additional services tailored to their needs is making the need for a new convergence of networks, technologies and applications. Required 1. By the Consolidated Weigh Sheets for Lucent Technologies for September 30, 2004 and 2003, prepare a common-size weigh page. 2. Evaluate the asset, debt, and justice structure of Lucent Technologies, as well as trends and changes found on the common-size weigh page. 3. What concerns would investors and creditors have based on only this information? 4. What additional financial and nonfinancial information would investors and creditors need to make investing and lending decisions for Lucent Technologies? LUCENT TECHNOLOGIES INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in Millions, Except per Share Amounts) September 30, September 30, 2004 2003 Assets Cash and cash equivalents $ 3,379 $ 3,821 Marketable securities 858 686 Receivables 1,359 1,511 Inventories 822 632 Other current assets 1,813 1,213 Whole current assets 8,231 7,863 Marketable securities 636 — Property, plant, and equipment, net 1,376 1,593 Prepaid pension costs 5,358 4,659 Goodwill and other bought intangibles, net 434 188 Other assets 928 1,608 Whole assets $ 16,963 $ 15,911 Liabilities Accounts payable $ 872 $ 1,072 Payroll and benefit-related liabilities 1,232 1,080 Debt budding within one year 1 389 Other current liabilities 2,361 2,393 Whole current liabilities 4,466 4,934 Postretirement and postemployment benefit liabilities 4,881 4,669 Pension liabilities 1,874 2,494 Long-term debt 4,837 4,439 Liability to subsidiary trust issuing preferred securities 1,152 1,152 Other liabilities 1,132 1,594 Whole liabilities 18,342 19,282 Commitments and contingencies 8.00% redeemable convertible preferred stock — 868 Shareowners’ Deficit Preferred stock—par value .00 per share; authorized shares: 250; issued and outstanding: none — — Common stock—par value $.01 per share;Authorized shares: 10,000; 4,396 issued and 4,395 outstanding shares as of September 30, 2004,and 4,170 issued and 4,169 outstanding shares as of September 30, 2003 44 42 Additional paid-in capital 23,005 22,252 Accumulated deficit (20,793) (22,795) Accumulated other comprehensive loss (3,635) (3,738) Whole shareowners’ deficit (1,379) (4,239) Whole liabilities, redeemable convertible preferred stock and shareowners’ deficit $ 16,963 $ 15911

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