SuperMedia (SPMD) 8-K Results of Operations and Financial Condition

Exhibit 99.2

Q2 2010 Earnings Presentation July 27, 2010 Scott W. Klein, CEO Dee Jones, CFO

Safe Harbor Statement Certain statements included in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Statements that include the words “may,” “will,” “could,” “should,” “would,” “believe,” “anticipate,” “forecast,” “estimate,” “expect,” “preliminary,” “intend,” “plan,” “project,” “outlook” and similar statements of a future or forward-looking nature identify forward-looking statements. You should not place undue reliance on these statements. These forward-looking statements include statements that reflect the current views of our senior management with respect to our financial performance and future events with respect to our business and industry in general. Forward-looking statements address matters that involve risks and uncertainties. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. We believe that these factors include, but are not limited to, the risks related to the following: our post-restructuring financial condition, financing requirements and cash flow; the inability to provide assurance for the long-term continued viability of our business; limitations on our operating and strategic flexibility and the ability to operate our business, finance our capital needs or expand business strategies under the terms of our debt agreements; results from any failure to comply with the financial covenants and other restrictive covenants in our debt agreements; limited access to capital markets and increased borrowing costs resulting from our leveraged capital structure and recent debt ratings; reduced advertising spending by our clients and contract cancellations resulting from the current economic environment, which drives reduced revenues; competition from other yellow pages directory publishers and other traditional and new media and our ability to anticipate or respond to changes in technology and user preferences; declining use of print yellow pages directories by consumers; our ability to complete the implementation of our plan of reorganization and the discharge of our Chapter 11 bankruptcy cases, including successfully resolving any remaining claims; any negative client, vendor, carrier and third-party responses resulting from the implementation of our confirmed plan of reorganization; the impact that the filing for and emerging from Chapter 11 bankruptcy has had and could continue to have on our business operations, financial condition, liquidity or cash flow; changes in the availability and cost of paper and other raw materials used to print our directories and our reliance on third-party providers for printing and distribution services; increased credit risk associated with our reliance on small- and medium-sized businesses as clients, in the current economic environment; changes in our operating performance; our ability to attract and retain qualified key personnel; our ability to maintain good relations with our unionized employees; changes in labor, business, political and economic conditions; changes in governmental regulations and policies and actions of regulatory bodies; and the outcome of pending or future litigation and other claims. The foregoing factors should not be construed as exhaustive and should be read together with the other cautionary statements included in this and other reports we file with the Securities and Exchange Commission, including the information in “Item 1A. Risk Factors” in Part I of our Annual Report on Form 10-K for the year ended December 31, 2009. If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. All forward-looking statements included in this report are expressly qualified in their entirety by these cautionary statements. The forward-looking statements speak only as of the date made and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

 Scott W. Klein, CEO

Financial Overview 1 Net advertising sales is an operating measure used by the Company to compare advertising sales for current advertising periods to corresponding sales for previous periods. 2010 Net Advertising Sales1 - Leading Indicator of Amortized Revenue Net Ad Sales represents sales primarily consummated in prior quarters 370 bps improvement -15.8% -17.5% -20.8% -20.9% -20.6% -16.9% 1Q '09 2Q '09 3Q '09 4Q '09 1Q '10 2Q '10

Financial Highlights – Cash Flow Mandatory Cash Sweep Payments $55M Q1 and Q2 Debt repayments made in Q2 $122M $177M Jan 2010 Term loan balance $2,750M June 2010 Term loan balance $2,573M Q1 Q2 YTD

Financial Highlights – Expense Improvements YOY Expense Improvement1 $156M Aggressive cost management continues in 2Q 1 G&A expense includes a $16M favorable non-recurring, non-cash resolution of state tax claims in 2Q results. $ Millions Adjusted Pro-Forma Results Sales, -$63 COS, -$25 G & A, -$68

Financial Highlights – Bad Debt Expense Bad Debt Improvement 160bps Bad debt provision continues to improve by 160bps compared to FY 2009 9.1% 7.5% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0% YTD '09 YTD '10

SuperYellowPages Possession and Usage Share Trends SuperGuarantee and national ad campaign resulted in significant increases 2009 Gallup Possession and Usage Studies 2010 Burke Possession and Usage Studies Change in Possession, User Possession and Usage Share By Distribution Month Primary Month of Delivery Possession Change Usage Share Change Jan and Feb 2009 -9.2% -3.9% March 2009* -2.2% 2.1% April 2009 3.0% 3.7% May 2009 4.3% 4.7% June 2009 6.4% 4.0% July 2009 6.5% 2.9% August 2009 6.6% 1.1% September 2009* -1.7% -3.4% October 2009 -0.6% 2.4% November 2009 1.0% -2.5% December 2009 -1.2% -1.6% Total Year 1.0% 0.8% January 2010 -0.5% -1.5% February 2010 0.1% 1.8% March 2010 0.8% 4.7% Year to Date 0.2% 1.8% * Partial month national media coverage Full month national media coverage Markets with both previous and present year studies 95% significance + or - 2.5% Usage Possession Share Change Change Media Months 4.4% 3.5% Non Media Months -2.0% -1.3% Difference 6.4% 4.8%

Distribution adjusted Call Count Trends Calls per quarter column equivalent Calls per metered lines Calls from SuperYellowPages trending upward Call/Line Call/QCE* Q2 ‘10 Q1 ‘10 Q4 ‘09 Q4 ‘09 Q1 ‘10 Q2 ‘10 -9.9% 7.6% 14.9% -2.9% 8.6% 11.6% Call Counts Print Yellow Pages YOY % YOY % Q2 2010 11.6% 14.9% Q1 2010 8.6% 7.6% Q4 2009 -2.9% -9.9%

Superpages Network Traffic Q2 Q1 34 Million 27 Million Unique Visitors 26% Improvement in Q2 over Q1

Superpages Mobile features SuperGuarantee Superpages Mobile Visitors Yellowbook Dexknows.com YP.com Superpages.com

SuperGuarantee SuperAccolades

Ad Enhancements Increase Revenue Potential

Ad Enhancements Increase Revenue Potential

Ad Enhancements Increase Revenue Potential

Ad Enhancements Increase Revenue Potential Eye-catching Extra-tall design

New Standard in Text Size Easier to read and use

SuperNova Identifies New Efficiencies Improving process efficiencies creates more selling time Success in two pilot markets National implementation by October

SuperPromise 365 Delivering White glove treatment Measured improvements Client advisory meetings

New Chairman of the Board – Doug Wheat Skilled leader Tremendous perspective; diverse background Interim Chairman, Tom Rogers, remains on board Doug Wheat Tom Rogers

 Financials – Dee Jones, EVP and CFO

Financial 2010 YTD Results CONTINUE PROCESS IMPROVEMENTS AND CREATING SYNERGIES TO MITIGATE REVENUE DECLINES Adjusted Pro-Forma $ in Millions 2010 YTD 2009 YTD % Change Operating Revenue $1,045 $1,325 -21.1% EBITDA Margin 31.4% 34.1% -270 bps

Financial Overview – 2Q 2010 Results Ad Sales decline 16.9% vs. 1Q 20.6% Client loss experience Business Drivers – 2Q Improvements Ad Sales trend improvement as SMB’s use advertising spend with SuperMedia New sales programs and initiatives are beginning to show in 2Q results 1Q & 2Q 2010 3Q & 4Q 2009 Over 50% improvement -15.8% -17.5% -20.8% -20.9% -20.6% -16.9% 1Q '09 2Q '09 3Q '09 4Q '09 1Q '10 2Q '10

 2010 2009 $328M $452M -17.5% -8.4% EBITDA Margin 31.4% vs. 34.1% last year Financial Overview – YTD 2010 vs. 2009 Adjusted Pro-Forma EBITDA¹ ¹ Reconciliation of GAAP to non-GAAP included in appendix Selling – improved sales force efficiencies and related costs as well as timing of advertising expense Cost of Sales – lower volumes and benefit from improved traffic costs G&A – lower bad debt expense, reduced headcount, favorable non-recurring, non-cash state tax resolution of $16M² (excluding this item, G&A decline would be 24.4%) Total Operating Expense (excl. D&A) 17.9% decline vs. last year -31.9%² EBITDA QI QI Q2 Q2 Selling Cost of sales General and administrative $163 $216 $165 $236

Financial Overview – Bad Debt 2009 2010 Bad Debt Improvement 9.2% 7.3% Decrease in credit cancels Initiatives improving quality of clients SuperPromise 365 – making it right on first call YTD 2009 9.1% 180 bps 7.8% 4.0% 6.0% 8.0% 10.0% 3Q 4Q 1Q 2Q

Q1 Cash Sweep Financial Overview – Cash Flow YTD Free Cash Flow¹ $265M $122M $55M Q2 Cash Sweep Cash increase $88M Q2 2010 FCF $184M Q1 2010 FCF $81M Drives Drives ¹Free cash flow is defined as cash from operations minus capex $286M less $21M = $265M FCF YTD Beg. Cash $212M YTD Cash Increase $ 88M End Cash $300M

[LOGO]

QR Code Technology Connects Print to Mobile

Questions and Answers

[LOGO]

Appendix

 tax claims. (6) Results include a $16 million general and administrative expense reduction related to the favorable non-recurring non-cash resolution of state Company's statement of operations but were written off at December 31, 2009 according to the rules of fresh start accounting. (5) Fresh start accounting items include adjustments for revenue and expense items that would have been otherwise amortized into the United States Bankruptcy Code. (4) Reorganization items represent charges that are directly associated with the process of reorganizing the business under Chapter 11 of the (3) Restructuring costs are associated with strategic organizational realignment and market exit initiatives. (2) Operating income (loss) margin is calculated by dividing operating income (loss) by operating revenue. measure calculated by dividing EBITDA by operating revenue. (1) EBITDA is a non-GAAP measure that represents earnings before interest, taxes, depreciation, and amortization. EBITDA margin is a non-GAAP Notes: 32.2% -4.9% -5.7% EBITDA margin (non-GAAP) (1) 9.2% 19.0% 19.0% Impact of depreciation and amortization 23.0% -23.9% -24.7% Operating income (loss) margin (2) $ 165 $ 177 $ (12) $ - $ 2 $ (14) EBITDA (non-GAAP) (1) 47 - 47 - - 47 Depreciation and Amortization $ 118 $ 177 $ (59) $ - $ 2 $ (61) Operating Income (Loss) $ 2.15 $ 7.57 $ (5.42) $ 0.04 $ 0.09 $ (5.55) Basic and Diluted Earnings (Loss) per Common Share $ 33 $ 113 $ (80) $ 1 $ 2 $ (83) Net Income (Loss) 14 64 (50) - - (50) Provision (benefit) for income taxes 47 177 (130) 1 2 (133) Income (Loss) Before Provision (Benefit) for Income Taxes - - - (1) - 1 Reorganization items 47 177 (130) - 2 (132) (Benefit) for Income Taxes Income (Loss) Before Reorganization Items and Provision 71 - 71 - - 71 Interest expense, net 118 177 (59) - 2 (61) Operating Income (Loss) 394 88 306 - (2) 308 Total Operating Expense 47 - 47 - - 47 Depreciation and amortization 65 22 43 - (2) 45 General and administrative 136 33 103 - - 103 Cost of sales (exclusive of depreciation and amortization) 146 33 113 - - 113 Selling Operating Expense $ 512 $ 265 $ 247 $ - $ - $ 247 Operating Revenue Adjusted Pro Forma (Non-GAAP) Adjusted (Non-GAAP) Reported (GAAP) Unaudited 3 Mos. Ended 6/30/10 Fresh Start Accounting Items (5) 3 Mos. Ended 6/30/10 Reorganization Items (4) Restructuring Costs (3) 3 Mos. Ended 6/30/10 Pro Forma Items Adjustments Successor Company (dollars in millions, except per share amounts) Three Months Ended June 30, 2010 Reconciliation from Reported (GAAP) to Adjusted Pro Forma (Non-GAAP) (6) Consolidated Statements of Operations SuperMedia Inc.

(7) Results include a $16 million general and administrative expense reduction related to the favorable non-recurring non-cash resolution of state tax claims. statement of operations but were written off at December 31, 2009 as prescribed by United States Generally Accepted Accounting Principles. (6) Fresh start accounting items include adjustments for revenue and expense items that would have been otherwise amortized into the Company's a charge in the current period. (5) As a result of the passage of the Health Care Reform Act in March of 2010, the future benefit of certain deferred tax assets was eliminated, resulting in Bankruptcy Code. (4) Reorganization items represent charges that are directly associated with the process of reorganizing the business under Chapter 11 of the United States (3) Restructuring costs are associated with strategic organizational cost savings initiatives. (2) Operating income (loss) margin is calculated by dividing operating income (loss) by operating revenue. calculated by dividing EBITDA by operating revenue. (1) EBITDA is a non-GAAP measure that represents earnings before interest, taxes, depreciation, and amortization. EBITDA margin is a non-GAAP measure Notes: 31.4% -26.4% -27.4% EBITDA margin (non-GAAP) (1) 9.1% 23.7% 23.7% Impact of depreciation and amortization 22.3% -50.1% -51.1% Operating income (loss) margin (2) $ 328 $ 434 $ (106) $ - $ - $ 4 $ (110) EBITDA (non-GAAP) (1) 95 - 95 - - - 95 Depreciation and Amortization $ 233 $ 434 $ (201) $ - $ - $ 4 $ (205) Operating Income (Loss) $ 3.84 $ 18.16 $ (14.32) $ 0.48 $ 0.12 $ 0.18 $ (15.10) Basic and Diluted Earnings (Loss) per Common Share $ 58 $ 272 $ (214) $ 7 $ 2 $ 3 $ (226) Net Income (Loss) 32 162 (130) (7) 1 1 (125) Provision (benefit) for income taxes 90 434 (344) - 3 4 (351) Income (Loss) Before Provision (Benefit) for Income Taxes - - - - (3) - 3 Reorganization items 90 434 (344) - - 4 (348) (Benefit) for Income Taxes Income (Loss) Before Reorganization Items and Provision 143 - 143 - - - 143 Interest expense, net 233 434 (201) - - 4 (205) Operating Income (Loss) 812 210 602 - - (4) 606 Total Operating Expense 95 - 95 - - - 95 Depreciation and amortization 145 52 93 - - (4) 97 General and administrative 274 82 192 - - - 192 Cost of sales (exclusive of depreciation and amortization) 298 76 222 - - - 222 Selling Operating Expense $ 1,045 $ 644 $ 401 $ - $ - $ - $ 401 Operating Revenue Adjusted Pro Forma (Non-GAAP) Adjusted (Non-GAAP) Reported (GAAP) Unaudited 6 Mos. Ended 6/30/10 Fresh Start Accounting Items (6) 6 Mos. Ended 6/30/10 Health Care Reform Act (5) Reorganization Items (4) Restructuring Costs (3) 6 Mos. Ended 6/30/10 Pro Forma Items Adjustments Successor Company (dollars in millions, except per share amounts) Six Months Ended June 30, 2010 Reconciliation from Reported (GAAP) to Adjusted Pro Forma (Non-GAAP) (7) Consolidated Statements of Operations SuperMedia Inc.