Exhibit 99.2

BCE ^{(1) (2) (3)}
Consolidated Operational Data

(In millions of Canadian dollars, except share amounts) (unaudited)		Q1 2019			Q1 2018			$ change		% change
Operating revenues
Service		5,045			4,964			81		1.6	%
Product		689			626			63		10.1	%
Total operating revenues		5,734			5,590			144		2.6	%
Operating costs (A)		(3,256	)		(3,263	)		7		0.2	%
Post-employment benefit plans service cost		(69	)		(73	)		4		5.5	%
Adjusted EBITDA (4)		2,409			2,254			155		6.9	%
Adjusted EBITDA margin (4)		42.0	%		40.3	%				1.7	pts
Severance, acquisition and other costs		(24	)		-			(24	)	n.m.
Depreciation		(882	)		(780	)		(102	)	(13.1	%)
Amortization		(221	)		(212	)		(9	)	(4.2	%)
Finance costs
Interest expense		(283	)		(240	)		(43	)	(17.9	%)
Interest on post-employment benefit obligations		(16	)		(17	)		1		5.9	%
Other income (expense)		101			(61	)		162		n.m.
Income taxes		(293	)		(235	)		(58	)	(24.7	%)
Net earnings		791			709			82		11.6	%
Net earnings attributable to:
Common shareholders		740			661			79		12.0	%
Preferred shareholders		38			36			2		5.6	%
Non-controlling interest		13			12			1		8.3	%
Net earnings		791			709			82		11.6	%
Net earnings per common share - basic and diluted	$	0.82		$	0.73		$	0.09		12.3	%
Dividends per common share	$	0.7925		$	0.7550		$	0.0375		5.0	%
Weighted average number of common shares outstanding - basic (millions)		898.4			900.2
Weighted average number of common shares outstanding - diluted (millions)		898.7			900.6
Number of common shares outstanding (millions)		898.8			898.0
Adjusted net earnings and EPS
Net earnings attributable to common shareholders		740			661			79		12.0	%
Severance, acquisition and other costs		18			(1	)		19		n.m.
Net mark-to-market (gains) losses on derivatives used to economically hedge equity settled share-based compensation plans		(73	)		56			(129	)	n.m.
Net losses on investments		4			-			4		n.m.
Impairment charges		3			3			-		-
Adjusted net earnings (4)		692			719			(27	)	(3.8	%)
Impact on net earnings per share	$	(0.05	)	$	0.07		$	(0.12	)	n.m.
Adjusted EPS (4)	$	0.77		$	0.80		$	(0.03	)	(3.8	%)

n.m. :	not meaningful
(A)	Excludes post-employment benefit plans service cost

BCE Supplementary Financial Information - First Quarter 2019 Page 2

BCE
Consolidated Operational Data - Historical Trend

(In millions of Canadian dollars, except share amounts) (unaudited)		Q1 19			TOTAL 2018			Q4 18			Q3 18			Q2 18			Q1 18
Operating revenues
Service		5,045			20,441			5,231			5,117			5,129			4,964
Product		689			3,027			984			760			657			626
Total operating revenues		5,734			23,468			6,215			5,877			5,786			5,590
Operating costs (A)		(3,256	)		(13,667	)		(3,756	)		(3,355	)		(3,293	)		(3,263	)
Post-employment benefit plans service cost		(69	)		(266	)		(65	)		(65	)		(63	)		(73	)
Adjusted EBITDA		2,409			9,535			2,394			2,457			2,430			2,254
Adjusted EBITDA margin		42.0	%		40.6	%		38.5	%		41.8	%		42.0	%		40.3	%
Severance, acquisition and other costs		(24	)		(136	)		(58	)		(54	)		(24	)		-
Depreciation		(882	)		(3,145	)		(799	)		(779	)		(787	)		(780	)
Amortization		(221	)		(869	)		(216	)		(220	)		(221	)		(212	)
Finance costs
Interest expense		(283	)		(1,000	)		(259	)		(255	)		(246	)		(240	)
Interest on post-employment benefit obligations		(16	)		(69	)		(18	)		(17	)		(17	)		(17	)
Other income (expense)		101			(348	)		(158	)		(41	)		(88	)		(61	)
Income taxes		(293	)		(995	)		(244	)		(224	)		(292	)		(235	)
Net earnings		791			2,973			642			867			755			709
Net earnings attributable to:
Common shareholders		740			2,785			606			814			704			661
Preferred shareholders		38			144			37			36			35			36
Non-controlling interest		13			44			(1	)		17			16			12
Net earnings		791			2,973			642			867			755			709
Net earnings per common share - basic and diluted	$	0.82		$	3.10		$	0.68		$	0.90		$	0.79		$	0.73
Dividends per common share	$	0.7925		$	3.0200		$	0.7550		$	0.7550		$	0.7550		$	0.7550
Weighted average number of common shares outstanding - basic (millions)		898.4			898.6			898.1			898.0			898.0			900.2
Weighted average number of common shares outstanding - diluted (millions)		898.7			898.9			898.4			898.3			898.3			900.6
Number of common shares outstanding (millions)		898.8			898.2			898.2			898.0			898.0			898.0
Adjusted net earnings and EPS
Net earnings attributable to common shareholders		740			2,785			606			814			704			661
Severance, acquisition and other costs		18			100			44			39			18			(1	)
Net mark-to-market (gains) losses on derivatives used to economically hedge equity settled share-based compensation plans		(73	)		58			(25	)		5			22			56
Net losses on investments		4			47			27			-			20			-
Early debt redemption costs		-			15			-			2			13			-
Impairment charges		3			146			142			1			-			3
Adjusted net earnings		692			3,151			794			861			777			719
Impact on net earnings per share	$	(0.05	)	$	0.41		$	0.21		$	0.06		$	0.07		$	0.07
Adjusted EPS	$	0.77		$	3.51		$	0.89		$	0.96		$	0.86		$	0.80

^(A) Excludes post-employment benefit plans service cost

BCE Supplementary Financial Information - First Quarter 2019 Page 3

BCE ^{(1) (2) (3)}
Segmented Data

(In millions of Canadian dollars, except where otherwise indicated) (unaudited)	Q1 2019		Q1 2018		$ change		% change
Operating revenues
Bell Wireless	2,112		2,021		91		4.5	%
Bell Wireline	3,064		3,009		55		1.8	%
Bell Media	745		749		(4	)	(0.5	%)
Inter-segment eliminations	(187	)	(189	)	2		1.1	%
Total	5,734		5,590		144		2.6	%
Operating costs
Bell Wireless	(1,207	)	(1,210	)	3		0.2	%
Bell Wireline	(1,725	)	(1,696	)	(29	)	(1.7	%)
Bell Media	(580	)	(619	)	39		6.3	%
Inter-segment eliminations	187		189		(2	)	(1.1	%)
Total	(3,325	)	(3,336	)	11		0.3	%
Adjusted EBITDA
Bell Wireless	905		811		94		11.6	%
Margin	42.9	%	40.1	%			2.8	pts
Bell Wireline	1,339		1,313		26		2.0	%
Margin	43.7	%	43.6	%			0.1	pts
Bell Media	165		130		35		26.9	%
Margin	22.1	%	17.4	%			4.7	pts
Total	2,409		2,254		155		6.9	%
Margin	42.0	%	40.3	%			1.7	pts
Capital expenditures
Bell Wireless	151		167		16		9.6	%
Capital intensity (5)	7.1	%	8.3	%			1.2	pts
Bell Wireline	674		744		70		9.4	%
Capital intensity	22.0	%	24.7	%			2.7	pts
Bell Media	25		20		(5	)	(25.0	%)
Capital intensity	3.4	%	2.7	%			(0.7	) pts
Total	850		931		81		8.7	%
Capital intensity	14.8	%	16.7	%			1.9	pts

BCE Supplementary Financial Information - First Quarter 2019 Page 4

BCE
Segmented Data - Historical Trend

(In millions of Canadian dollars, except where otherwise indicated) (unaudited)	Q1 19		TOTAL 2018		Q4 18		Q3 18		Q2 18		Q1 18
Operating revenues
Bell Wireless	2,112		8,818		2,407		2,269		2,121		2,021
Bell Wireline	3,064		12,267		3,137		3,060		3,061		3,009
Bell Media	745		3,121		850		731		791		749
Inter-segment eliminations	(187	)	(738	)	(179	)	(183	)	(187	)	(189	)
Total	5,734		23,468		6,215		5,877		5,786		5,590
Operating costs
Bell Wireless	(1,207	)	(5,297	)	(1,528	)	(1,330	)	(1,229	)	(1,210	)
Bell Wireline	(1,725	)	(6,946	)	(1,798	)	(1,724	)	(1,728	)	(1,696	)
Bell Media	(580	)	(2,428	)	(674	)	(549	)	(586	)	(619	)
Inter-segment eliminations	187		738		179		183		187		189
Total	(3,325	)	(13,933	)	(3,821	)	(3,420	)	(3,356	)	(3,336	)
Adjusted EBITDA
Bell Wireless	905		3,521		879		939		892		811
Margin	42.9	%	39.9	%	36.5	%	41.4	%	42.1	%	40.1	%
Bell Wireline	1,339		5,321		1,339		1,336		1,333		1,313
Margin	43.7	%	43.4	%	42.7	%	43.7	%	43.5	%	43.6	%
Bell Media	165		693		176		182		205		130
Margin	22.1	%	22.2	%	20.7	%	24.9	%	25.9	%	17.4	%
Total	2,409		9,535		2,394		2,457		2,430		2,254
Margin	42.0	%	40.6	%	38.5	%	41.8	%	42.0	%	40.3	%
Capital expenditures
Bell Wireless	151		664		133		183		181		167
Capital intensity	7.1	%	7.5	%	5.5	%	8.1	%	8.5	%	8.3	%
Bell Wireline	674		3,193		809		797		843		744
Capital intensity	22.0	%	26.0	%	25.8	%	26.0	%	27.5	%	24.7	%
Bell Media	25		114		32		30		32		20
Capital intensity	3.4	%	3.7	%	3.8	%	4.1	%	4.0	%	2.7	%
Total	850		3,971		974		1,010		1,056		931
Capital intensity	14.8	%	16.9	%	15.7	%	17.2	%	18.3	%	16.7	%

BCE Supplementary Financial Information - First Quarter 2019 Page 5

Bell Wireless ^{(1) (2) (3)}

(In millions of Canadian dollars, except where otherwise indicated) (unaudited)	Q1 2019		Q1 2018		% change
Bell Wireless
Operating revenues
External service revenues	1,554		1,502		3.5	%
Inter-segment service revenues	12		12		-
Total operating service revenues	1,566		1,514		3.4	%
External product revenues	545		506		7.7	%
Inter-segment product revenues	1		1		-
Total operating product revenues	546		507		7.7	%
Total external revenues	2,099		2,008		4.5	%
Total operating revenues	2,112		2,021		4.5	%
Operating costs	(1,207	)	(1,210	)	0.2	%
Adjusted EBITDA	905		811		11.6	%
Adjusted EBITDA margin (Total operating revenues)	42.9	%	40.1	%	2.8	pts
Capital expenditures	151		167		9.6	%
Capital intensity	7.1	%	8.3	%	1.2	pts
Wireless subscriber gross activations (5)	410,301		404,790		1.4	%
Postpaid	320,558		347,319		(7.7	%)
Prepaid	89,743		57,471		56.2	%
Wireless subscriber net activations (losses)	38,282		44,377		(13.7	%)
Postpaid	50,204		68,487		(26.7	%)
Prepaid	(11,922	)	(24,110	)	50.6	%
Wireless subscribers end of period (EOP)(A)	9,480,835		9,195,048		3.1	%
Postpaid(A)	8,808,189		8,471,021		4.0	%
Prepaid(A)	672,646		724,027		(7.1	%)
Blended average billing per user (ABPU)($/month) (5)(B)	67.35		66.56		1.2	%
Churn (%) (average per month) (5)	1.31	%	1.31	%	-
Postpaid	1.07	%	1.13	%	0.06	pts
Prepaid	4.49	%	3.40	%	(1.09	) pts

(A)

At the beginning of Q1 2019, we adjusted our wireless subscriber base to remove 167,929 subscribers (72,231 postpaid and 95,698 prepaid) as follows: 65,798 subscribers (19,195 postpaid and 46,603 prepaid), due to the completion of the shutdown of the code division multiple access (CDMA) network on April 30, 2019 49,095 prepaid subscribers as a result of a change to our deactivation policy, mainly from 120 days for Bell/Virgin Mobile Canada (Virgin Mobile) and 150 days for Lucky Mobile to 90 days 43,670 postpaid subscribers relating to Internet of Things (IoT) due to the further refinement of our subscriber definition as a result of technology evolution 9,366 postpaid fixed wireless Internet subscribers which were transferred to our retail high-speed Internet subscriber base

(B)

Our Q1 2018 blended ABPU was adjusted to exclude the unfavourable retroactive impact of the CRTC decision on wholesale wireless domestic roaming rates of $14 million.

BCE Supplementary Financial Information - First Quarter 2019 Page 6

Bell Wireless - Historical Trend

(In millions of Canadian dollars, except where otherwise indicated) (unaudited)	Q1 19		TOTAL 2018		Q4 18		Q3 18		Q2 18		Q1 18
Bell Wireless
Operating revenues
External service revenues	1,554		6,269		1,581		1,620		1,566		1,502
Inter-segment service revenues	12		48		12		12		12		12
Total operating service revenues	1,566		6,317		1,593		1,632		1,578		1,514
External product revenues	545		2,497		814		636		541		506
Inter-segment product revenues	1		4		-		1		2		1
Total operating product revenues	546		2,501		814		637		543		507
Total external revenues	2,099		8,766		2,395		2,256		2,107		2,008
Total operating revenues	2,112		8,818		2,407		2,269		2,121		2,021
Operating costs	(1,207	)	(5,297	)	(1,528	)	(1,330	)	(1,229	)	(1,210	)
Adjusted EBITDA	905		3,521		879		939		892		811
Adjusted EBITDA margin (Total operating revenues)	42.9	%	39.9	%	36.5	%	41.4	%	42.1	%	40.1	%
Capital expenditures	151		664		133		183		181		167
Capital intensity	7.1	%	7.5	%	5.5	%	8.1	%	8.5	%	8.3	%
Wireless subscriber gross activations	410,301		1,954,792		546,203		535,647		468,152		404,790
Postpaid	320,558		1,615,764		447,590		426,719		394,136		347,319
Prepaid	89,743		339,028		98,613		108,928		74,016		57,471
Wireless subscriber net activations (losses)	38,282		479,811		143,114		177,834		114,486		44,377
Postpaid	50,204		447,682		121,780		135,323		122,092		68,487
Prepaid	(11,922	)	32,129		21,334		42,511		(7,606	)	(24,110	)
Wireless subscribers EOP(A)(B)	9,480,835		9,610,482		9,610,482		9,487,368		9,309,534		9,195,048
Postpaid(A)(B)	8,808,189		8,830,216		8,830,216		8,728,436		8,593,113		8,471,021
Prepaid(A)	672,646		780,266		780,266		758,932		716,421		724,027
Blended ABPU ($/month)(C)	67.35		67.76		67.46		69.28		67.71		66.56
Churn (%)(average per month)	1.31	%	1.32	%	1.41	%	1.27	%	1.28	%	1.31	%
Postpaid	1.07	%	1.16	%	1.26	%	1.14	%	1.10	%	1.13	%
Prepaid	4.49	%	3.17	%	3.18	%	2.76	%	3.34	%	3.40	%

(A)	At the beginning of Q1 2019, we adjusted our wireless subscriber base to remove 167,929 subscribers (72,231 postpaid and 95,698 prepaid) as follows: 65,798 subscribers (19,195 postpaid and 46,603 prepaid), due to the completion of the shutdown of the CDMA network on April 30, 2019 49,095 prepaid subscribers as a result of a change to our deactivation policy, mainly from 120 days for Bell/Virgin Mobile and 150 days for Lucky Mobile to 90 days 43,670 postpaid subscribers relating to IoT due to the further refinement of our subscriber definition as a result of technology evolution 9,366 postpaid fixed wireless Internet subscribers which were transferred to our retail high-speed Internet subscriber base
(B)	At the beginning of Q4 2018, we adjusted our postpaid wireless subscriber base to remove 20,000 subscribers that we divested to Xplornet Communications Inc. as a result of BCE's acquisition of Manitoba Telecom Services Inc.
(C)	Our Q1 2018 blended ABPU was adjusted to exclude the unfavourable retroactive impact of the CRTC decision on wholesale wireless domestic roaming rates of $14 million.

BCE Supplementary Financial Information - First Quarter 2019 Page 7

Bell Wireline ^{(1) (2) (3)}

(In millions of Canadian dollars, except where otherwise indicated) (unaudited)	Q1 2019		Q1 2018		% change
Bell Wireline
Operating revenues
Data	1,885		1,820		3.6	%
Voice	907		948		(4.3	%)
Other services	59		63		(6.3	%)
Total external service revenues	2,851		2,831		0.7	%
Inter-segment service revenues	69		58		19.0	%
Total operating service revenues	2,920		2,889		1.1	%
Data	133		104		27.9	%
Equipment and other	11		16		(31.3	%)
Total external product revenues	144		120		20.0	%
Inter-segment product revenues	-		-		-
Total operating product revenues	144		120		20.0	%
Total external revenues	2,995		2,951		1.5	%
Total operating revenues	3,064		3,009		1.8	%
Operating costs	(1,725	)	(1,696	)	(1.7	%)
Adjusted EBITDA	1,339		1,313		2.0	%
Adjusted EBITDA margin	43.7	%	43.6	%	0.1	pts
Capital expenditures	674		744		9.4	%
Capital intensity	22.0	%	24.7	%	2.7	pts
Retail high-speed Internet subscribers (5)
Net activations (A)	22,671		18,156		24.9	%
Subscribers EOP (A) (B)	3,442,411		3,311,931		3.9	%
Retail TV subscribers
Retail net subscriber losses (A)	(1,560	)	(10,354	)	84.9	%
Internet protocol television (IPTV)	20,916		13,573		54.1	%
Satellite	(22,476	)	(23,927	)	6.1	%
Total retail subscribers EOP (A)	2,764,851		2,734,498		1.1	%
IPTV	1,696,622		1,578,489		7.5	%
Satellite	1,068,229		1,156,009		(7.6	%)
Retail network access services (NAS)
Residential NAS lines (A)	2,894,029		3,163,618		(8.5	%)
Residential NAS lines net losses (A)	(66,779	)	(56,071	)	(19.1	%)

(A)	As of January 1, 2019, we are no longer reporting wholesale subscribers in our Internet, TV, and residential NAS subscriber bases reflecting our focus on the retail market. Consequently, we restated previously reported 2018 subscribers for comparability.
(B)	At the beginning of Q1 2019, our retail high-speed Internet subscriber base was increased by 9,366 subscribers due to the transfer of fixed wireless Internet subscribers from our wireless segment.

BCE Supplementary Financial Information - First Quarter 2019 Page 8

Bell Wireline - Historical Trend

(In millions of Canadian dollars, except where otherwise indicated) (unaudited)	Q1 19		TOTAL 2018		Q4 18		Q3 18		Q2 18		Q1 18
Bell Wireline
Operating revenues
Data	1,885		7,466		1,910		1,867		1,869		1,820
Voice	907		3,782		933		948		953		948
Other services	59		247		60		60		64		63
Total external service revenues	2,851		11,495		2,903		2,875		2,886		2,831
Inter-segment service revenues	69		242		64		61		59		58
Total operating service revenues	2,920		11,737		2,967		2,936		2,945		2,889
Data	133		466		153		111		98		104
Equipment and other	11		64		17		13		18		16
Total external product revenues	144		530		170		124		116		120
Inter-segment product revenues	-		-		-		-		-		-
Total operating product revenues	144		530		170		124		116		120
Total external revenues	2,995		12,025		3,073		2,999		3,002		2,951
Total operating revenues	3,064		12,267		3,137		3,060		3,061		3,009
Operating costs	(1,725	)	(6,946	)	(1,798	)	(1,724	)	(1,728	)	(1,696	)
Adjusted EBITDA	1,339		5,321		1,339		1,336		1,333		1,313
Adjusted EBITDA margin	43.7	%	43.4	%	42.7	%	43.7	%	43.5	%	43.6	%
Capital expenditures	674		3,193		809		797		843		744
Capital intensity	22.0	%	26.0	%	25.8	%	26.0	%	27.5	%	24.7	%
Retail high-speed Internet subscribers
Net activations (A)	22,671		116,599		32,518		53,122		12,803		18,156
Subscribers EOP (A) (B)	3,442,411		3,410,374		3,410,374		3,377,856		3,324,734		3,311,931
Retail TV subscribers
Retail net subscriber (losses) activations(A)	(1,560	)	21,559		13,231		13,230		5,452		(10,354	)
IPTV	20,916		110,790		36,473		40,091		20,653		13,573
Satellite	(22,476	)	(89,231	)	(23,242	)	(26,861	)	(15,201	)	(23,927	)
Total retail subscribers EOP (A)	2,764,851		2,766,411		2,766,411		2,753,180		2,739,950		2,734,498
IPTV	1,696,622		1,675,706		1,675,706		1,639,233		1,599,142		1,578,489
Satellite	1,068,229		1,090,705		1,090,705		1,113,947		1,140,808		1,156,009
Retail network access services (NAS)
Residential NAS lines (A)	2,894,029		2,960,808		2,960,808		3,020,819		3,094,060		3,163,618
Residential NAS lines net losses (A)	(66,779	)	(258,881	)	(60,011	)	(73,241	)	(69,558	)	(56,071	)

(A)	As of January 1, 2019, we are no longer reporting wholesale subscribers in our Internet, TV and residential NAS subscriber bases reflecting our focus on the retail market. Consequently, we restated previously reported 2018 subscribers for comparability.
(B)	At the beginning of Q1 2019, our retail high-speed Internet subscriber base was increased by 9,366 subscribers due to the transfer of fixed wireless Internet subscribers from our wireless segment.

BCE Supplementary Financial Information - First Quarter 2019 Page 9

BCE ⁽²⁾
Net debt and other information

BCE - Net debt and preferred shares
(In millions of Canadian dollars, except where otherwise indicated) (unaudited)
	March 31 2019		December 31 2018
Debt due within one year	5,485		4,645
Long-term debt	22,016		19,760
Preferred shares - BCE (A)	2,002		2,002
Cash and cash equivalents	(668	)	(425	)
Net debt (4)	28,835		25,982
Net debt leverage ratio (4)(B)	2.98		2.72
Adjusted EBITDA /net interest expense ratio (4)	8.80		9.00

(A)	Net debt includes 50% of preferred shares
(B)	The March 31, 2019 increase in our net debt leverage ratio reflects a one-time increase due to the adoption of IFRS 16 which increased net debt by $2,304 million on January 1, 2019.

Cash flow information
(In millions of Canadian dollars, except where otherwise indicated) (unaudited)	Q1 2019		Q1 2018		$ change		% change
Free cash flow (FCF) (4)
Cash flows from operating activities	1,516		1,496		20		1.3	%
Capital expenditures	(850	)	(931	)	81		8.7	%
Dividends paid on preferred shares	(26	)	(33	)	7		21.2	%
Dividends paid by subsidiaries to non-controlling interest	(27	)	(13	)	(14	)	n.m.
Acquisition and other costs paid	29		18		11		61.1	%
FCF	642		537		105		19.6	%

Cash flow information - Historical trend
(In millions of Canadian dollars, except where otherwise indicated) (unaudited)	Q1 2019		TOTAL 2018		Q4 2018		Q3 2018		Q2 2018		Q1 2018
FCF
Cash flows from operating activities	1,516		7,384		1,788		2,043		2,057		1,496
Capital expenditures	(850	)	(3,971	)	(974	)	(1,010	)	(1,056	)	(931	)
Dividends paid on preferred shares	(26	)	(149	)	(46	)	(35	)	(35	)	(33	)
Dividends paid by subsidiaries to non-controlling interest	(27	)	(16	)	-		(3	)	-		(13	)
Acquisition and other costs paid	29		79		14		19		28		18
Voluntary defined benefit pension plan contribution	-		240		240		-		-		-
FCF	642		3,567		1,022		1,014		994		537

n.m. : not meaningful

BCE Supplementary Financial Information - First Quarter 2019 Page 10

BCE ⁽²⁾
Consolidated Statements of Financial Position

(In millions of Canadian dollars, except where otherwise indicated) (unaudited)	March 31 2019		December 31 2018
ASSETS
Current assets
Cash	546		425
Cash equivalents	122		-
Trade and other receivables	2,937		3,006
Inventory	472		432
Contract assets	978		987
Contract costs	383		370
Prepaid expenses	350		244
Other current assets	246		329
Total current assets	6,034		5,793
Non-current assets
Contract assets	477		506
Contract costs	331		337
Property, plant and equipment	27,276		24,844
Intangible assets	13,269		13,205
Deferred tax assets	129		112
Investments in associates and joint ventures	803		798
Other non-current assets	864		847
Goodwill	10,657		10,658
Total non-current assets	53,806		51,307
Total assets	59,840		57,100
LIABILITIES
Current liabilities
Trade payables and other liabilities	3,610		3,941
Contract liabilities	733		703
Interest payable	203		196
Dividends payable	735		691
Current tax liabilities	218		253
Debt due within one year	5,485		4,645
Total current liabilities	10,984		10,429
Non-current liabilities
Contract liabilities	204		196
Long-term debt	22,016		19,760
Deferred tax liabilities	3,159		3,163
Post-employment benefit obligations	1,998		1,866
Other non-current liabilities	941		997
Total non-current liabilities	28,318		25,982
Total liabilities	39,302		36,411
EQUITY
Equity attributable to BCE shareholders
Preferred shares	4,004		4,004
Common shares	20,067		20,036
Contributed surplus	1,153		1,170
Accumulated other comprehensive income (loss)	20		90
Deficit	(5,015	)	(4,937	)
Total equity attributable to BCE shareholders	20,229		20,363
Non-controlling interest	309		326
Total equity	20,538		20,689
Total liabilities and equity	59,840		57,100
Number of common shares outstanding (millions)	898.8		898.2

BCE Supplementary Financial Information - First Quarter 2019 Page 11

BCE ⁽²⁾
Consolidated Cash Flow Data

(In millions of Canadian dollars, except where otherwise indicated) (unaudited)	Q1 2019		Q1 2018		$ change
Net earnings	791		709		82
Adjustments to reconcile net earnings to cash flows from operating activities
Severance, acquisition and other costs	24		-		24
Depreciation and amortization	1,103		992		111
Post-employment benefit plans cost	85		90		(5	)
Net interest expense	278		238		40
Losses on investments	4		-		4
Income taxes	293		235		58
Contributions to post-employment benefit plans	(81	)	(87	)	6
Payments under other post-employment benefit plans	(18	)	(19	)	1
Severance and other costs paid	(66	)	(35	)	(31	)
Interest paid	(267	)	(236	)	(31	)
Income taxes paid (net of refunds)	(289	)	(284	)	(5	)
Acquisition and other costs paid	(29	)	(18	)	(11	)
Net change in operating assets and liabilities	(312	)	(89	)	(223	)
Cash flows from operating activities	1,516		1,496		20
Capital expenditures	(850	)	(931	)	81
Cash dividends paid on preferred shares	(26	)	(33	)	7
Cash dividends paid by subsidiaries to non-controlling interest	(27	)	(13	)	(14	)
Acquisition and other costs paid	29		18		11
Free cash flow	642		537		105
Business acquisitions	-		(223	)	223
Acquisition and other costs paid	(29	)	(18	)	(11	)
Acquisition of spectrum licences	-		(36	)	36
Disposition of intangibles and other assets	-		68		(68	)
Other investing activities	(24	)	(35	)	11
Increase (decrease) in notes payable	567		(57	)	624
Increase in securitized trade receivables	31		-		31
Issue of long-term debt	-		1,466		(1,466	)
Repayment of long-term debt	(204	)	(173	)	(31	)
Issue of common shares	20		1		19
Repurchase of common shares	-		(175	)	175
Purchase of shares for settlement of share-based payments	(76	)	(88	)	12
Cash dividends paid on common shares	(678	)	(646	)	(32	)
Return of capital to non-controlling interest	-		(29	)	29
Other financing activities	(6	)	(18	)	12
	(399	)	37		(436	)
Net increase in cash and cash equivalents	243		574		(331	)
Cash and cash equivalents at beginning of period	425		625		(200	)
Cash and cash equivalents at end of period	668		1,199		(531	)

BCE Supplementary Financial Information - First Quarter 2019 Page 12

BCE
Consolidated Cash Flow Data - Historical Trend

(In millions of Canadian dollars, except where otherwise indicated) (unaudited)	Q1 19		TOTAL 2018		Q4 18		Q3 18		Q2 18		Q1 18
Net earnings	791		2,973		642		867		755		709
Adjustments to reconcile net earnings to cash flows from operating activities
Severance, acquisition and other costs	24		136		58		54		24		-
Depreciation and amortization	1,103		4,014		1,015		999		1,008		992
Post-employment benefit plans cost	85		335		83		82		80		90
Net interest expense	278		987		255		251		243		238
Losses on investments	4		34		34		-		-		-
Income taxes	293		995		244		224		292		235
Contributions to post-employment benefit plans	(81	)	(539	)	(309	)	(69	)	(74	)	(87	)
Payments under other post-employment benefit plans	(18	)	(75	)	(17	)	(20	)	(19	)	(19	)
Severance and other costs paid	(66	)	(138	)	(43	)	(27	)	(33	)	(35	)
Interest paid	(267	)	(990	)	(295	)	(207	)	(252	)	(236	)
Income taxes paid (net of refunds)	(289	)	(650	)	(92	)	(161	)	(113	)	(284	)
Acquisition and other costs paid	(29	)	(79	)	(14	)	(19	)	(28	)	(18	)
Net change in operating assets and liabilities	(312	)	381		227		69		174		(89	)
Cash flows from operating activities	1,516		7,384		1,788		2,043		2,057		1,496
Capital expenditures	(850	)	(3,971	)	(974	)	(1,010	)	(1,056	)	(931	)
Cash dividends paid on preferred shares	(26	)	(149	)	(46	)	(35	)	(35	)	(33	)
Cash dividends paid by subsidiaries to non-controlling interest	(27	)	(16	)	-		(3	)	-		(13	)
Acquisition and other costs paid	29		79		14		19		28		18
Voluntary defined benefit pension plan contribution	-		240		240		-		-		-
Free cash flow	642		3,567		1,022		1,014		994		537
Business acquisitions	-		(395	)	-		(151	)	(21	)	(223	)
Acquisition and other costs paid	(29	)	(79	)	(14	)	(19	)	(28	)	(18	)
Voluntary defined benefit pension plan contribution	-		(240	)	(240	)	-		-		-
Acquisition of spectrum licences	-		(56	)	(1	)	(19	)	-		(36	)
Disposition of intangibles and other assets	-		68		-		-		-		68
Other investing activities	(24	)	(32	)	32		(9	)	(20	)	(35	)
Increase (decrease) in notes payable	567		(123	)	(133	)	(30	)	97		(57	)
Increase (decrease) in securitized trade receivables	31		(2	)	-		-		(2	)	-
Issue of long-term debt	-		2,996		-		1,530		-		1,466
Repayment of long-term debt	(204	)	(2,713	)	(338	)	(1,134	)	(1,068	)	(173	)
Issue of common shares	20		11		8		1		1		1
Repurchase of common shares	-		(175	)	-		-		-		(175	)
Purchase of shares for settlement of share-based payments	(76	)	(222	)	(46	)	(39	)	(49	)	(88	)
Cash dividends paid on common shares	(678	)	(2,679	)	(677	)	(678	)	(678	)	(646	)
Return of capital to non-controlling interest	-		(51	)	-		(10	)	(12	)	(29	)
Other financing activities	(6	)	(75	)	(14	)	(20	)	(23	)	(18	)
	(399	)	(3,767	)	(1,423	)	(578	)	(1,803	)	37
Net increase (decrease) in cash and cash equivalents	243		(200	)	(401	)	436		(809	)	574
Cash and cash equivalents at beginning of period	425		625		826		390		1,199		625
Cash and cash equivalents at end of period	668		425		425		826		390		1,199

BCE Supplementary Financial Information - First Quarter 2019 Page 13

Accompanying Notes

(1)	We report our results in three segments: Bell Wireless, Bell Wireline and Bell Media. Our reporting structure reflects how we manage our business and how we classify our results for planning and measuring performance. Throughout this report, we, us, our, the company and BCE mean, as the context may require, either BCE Inc. or, collectively, BCE Inc., Bell Canada, their subsidiaries, joint arrangements and associates. Bell means, as the context may require, either Bell Canada or, collectively, Bell Canada, its subsidiaries, joint arrangements and associates.
(2)	As required, we adopted International Financial Reporting Standard (IFRS) 16 - Leases effective January 1, 2019. We adopted IFRS 16 using a modified retrospective approach whereby the financial statements of prior periods presented were not restated and continue to be reported under IAS 17 - Leases, as permitted by the specific transition provisions of IFRS 16. The cumulative effect of the initial adoption of IFRS 16 was reflected as an adjustment to the deficit at January 1, 2019. For further details, see Note 2, Basis of presentation and significant accounting policies and Note 3, Adoption of IFRS 16, of the Q1 2019 consolidated interim financial statements. Under IFRS 16, most leases are recognized on the statement of financial position as right-of-use assets within property, plant and equipment, with a corresponding lease liability within debt. Under IFRS 16, expenses related to these leases are recorded in depreciation and interest expense, whereas under IAS 17, operating lease expenses were recorded in operating costs. Under IFRS 16, repayments of principal for these leases are recorded in repayment of long-term debt within cash flows from financing activities and the interest component is recorded in interest paid within cash flows from operating activities. Previously, under IAS 17, operating lease payments were recorded within cash flows from operating activities.
(3)	To align with changes in how we manage our business and assess performance, the operating results of The Source (Bell) Electronics Inc. (The Source) are now entirely included within our Wireless segment effective January 1, 2019, with prior periods restated for comparative purposes. Previously, The Source’s results were included within our Wireless and Wireline segments.
(4)	Non-GAAP Financial Measures Adjusted EBITDA and adjusted EBITDA margin The terms adjusted EBITDA and adjusted EBITDA margin do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other issuers. We define adjusted EBITDA as operating revenues less operating costs (including post-employment benefit plans service cost) as shown in BCE’s consolidated income statements. Adjusted EBITDA for BCE’s segments is the same as segment profit as reported in BCE’s consolidated financial statements. We define adjusted EBITDA margin as adjusted EBITDA divided by operating revenues. We use adjusted EBITDA and adjusted EBITDA margin to evaluate the performance of our businesses as they reflect their ongoing profitability. We believe that certain investors and analysts use adjusted EBITDA to measure a company’s ability to service debt and to meet other payment obligations or as a common measurement to value companies in the telecommunications industry. We believe that certain investors and analysts also use adjusted EBITDA and adjusted EBITDA margin to evaluate the performance of our businesses. Adjusted EBITDA also is one component in the determination of short-term incentive compensation for all management employees.

BCE Supplementary Financial Information - First Quarter 2019 Page 14

Adjusted EBITDA and adjusted EBITDA margin have no directly comparable IFRS financial measure. Alternatively, adjusted EBITDA may be reconciled to net earnings as shown in this document.

Adjusted net earnings and adjusted earnings per share (EPS)

The terms adjusted net earnings and adjusted EPS do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other issuers.

We define adjusted net earnings as net earnings attributable to common shareholders before severance, acquisition and other costs, net mark-to-market losses (gains) on derivatives used to economically hedge equity settled share-based compensation plans, net losses (gains) on investments, early debt redemption costs and impairment charges, net of tax and non-controlling interest (NCI). We define adjusted EPS as adjusted net earnings per BCE common share.

We use adjusted net earnings and adjusted EPS, and we believe that certain investors and analysts use these measures, among other ones, to assess the performance of our businesses without the effects of severance, acquisition and other costs, net mark-to-market losses (gains) on derivatives used to economically hedge equity settled share-based compensation plans, net losses (gains) on investments, early debt redemption costs and impairment charges, net of tax and NCI. We exclude these items because they affect the comparability of our financial results and could potentially distort the analysis of trends in business performance. Excluding these items does not imply they are non-recurring.

The most comparable IFRS financial measures are net earnings attributable to common shareholders and EPS, as reconciled in this document.

Free cash flow

The term free cash flow does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other issuers.

We define free cash flow as cash flows from operating activities, excluding acquisition and other costs paid (which include significant litigation costs) and voluntary pension funding, less capital expenditures, preferred share dividends and dividends paid by subsidiaries to NCI. We exclude acquisition and other costs paid and voluntary pension funding because they affect the comparability of our financial results and could potentially distort the analysis of trends in business performance. Excluding these items does not imply they are non-recurring.

We consider free cash flow to be an important indicator of the financial strength and performance of our businesses because it shows how much cash is available to pay dividends on common shares, repay debt and reinvest in our company.

We believe that certain investors and analysts use free cash flow to value a business and its underlying assets and to evaluate the financial strength and performance of our businesses.

The most comparable IFRS financial measure is cash flows from operating activities, as reconciled in this document.

Net debt

The term net debt does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other issuers.

We define net debt as debt due within one year plus long-term debt and 50% of preferred shares, less cash and cash equivalents, as shown in BCE’s consolidated statements of financial position. We include 50% of outstanding preferred shares in our net debt as it is consistent with the treatment by certain credit rating agencies.

BCE Supplementary Financial Information - First Quarter 2019 Page 15

We consider net debt to be an important indicator of the company’s financial leverage because it represents the amount of debt that is not covered by available cash and cash equivalents. We believe that certain investors and analysts use net debt to determine a company’s financial leverage. Net debt has no directly comparable IFRS financial measure, but rather is calculated using several asset and liability categories from the statements of financial position, as shown in this document. Net debt leverage ratio The net debt leverage ratio does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other issuers. We use, and believe that certain investors and analysts use, the net debt leverage ratio as a measure of financial leverage. The net debt leverage ratio represents net debt divided by adjusted EBITDA. For the purposes of calculating our net debt leverage ratio, adjusted EBITDA is twelve-month trailing adjusted EBITDA. Adjusted EBITDA to net interest expense ratio The ratio of adjusted EBITDA to net interest expense does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other issuers. We use, and believe that certain investors and analysts use, the adjusted EBITDA to net interest expense ratio as a measure of financial health of the company. The adjusted EBITDA to net interest expense ratio represents adjusted EBITDA divided by net interest expense. For the purposes of calculating our adjusted EBITDA to net interest expense ratio, adjusted EBITDA is twelve-month trailing adjusted EBITDA. Net interest expense is twelve-month trailing net interest expense as shown in our statements of cash flows, plus 50% of declared preferred share dividends as shown in our income statements.

(5)

Key performance indicators (KPIs) In addition to the non-GAAP financial measures described previously, we use a number of KPIs to measure the success of our strategic imperatives. These KPIs are not accounting measures and may not be comparable to similar measures presented by other issuers. Average billing per user (ABPU) or subscriber approximates the average amount billed to customers on a monthly basis, which is used to track our recurring billing streams. Wireless blended ABPU is calculated by dividing certain customer billings by the average subscriber base for the specified period and is expressed as a dollar unit per month. Capital intensity is capital expenditures divided by operating revenues. Churn is the rate at which existing subscribers cancel their services. It is a measure of our ability to retain our customers. Wireless churn is calculated by dividing the number of deactivations during a given period by the average number of subscribers in the base for the specified period and is expressed as a percentage per month. Wireless subscriber unit is comprised of an active revenue-generating unit (e.g. mobile device, tablet or wireless Internet products), with a unique identifier (typically International Mobile Equipment Identity (IMEI) number), that has access to our wireless networks. We report wireless subscriber units in two categories: postpaid and prepaid. Prepaid subscriber units are considered active for a period of 90 days (previously 120 to 150 days) following the expiry of the subscriber’s prepaid balance.

BCE Supplementary Financial Information - First Quarter 2019 Page 16

Wireline subscriber unit consists of an active revenue-generating unit with access to our services, including retail Internet, satellite TV, IPTV, and/or NAS. A subscriber is included in our subscriber base when the service has been installed and is operational at the customer premise and a billing relationship has been established.

• Retail Internet, IPTV and satellite TV subscribers have access to stand-alone services, and are primarily represented by a dwelling unit
• Retail NAS subscribers are based on a line count and are represented by a unique telephone number

BCE Supplementary Financial Information - First Quarter 2019 Page 17