AT&T Results Presentation Deck

1Q21 Communications Segment $ in billions Revenues 7 EBITDA EBITDA Margin Mobility $17.4 $7.8 45.0% $2.4 38.0% 1Q20 $19.0 1Q20 1Q21 Business Wireline $6.3 $6.0 $2.3 $8.0 $1.2 39.6% 1Q20 42.1% 38.6% 1Q21 Consumer Wireline $3.1 $3.1 $1.1 34.4% 1Q21 Strong subscriber momentum Service revenue growth driven by subscriber gains Growing EBITDA and improving service margins Higher gross adds and lower phone churn Continued to deliver solid margins Emphasizing core network and transport connectivity Remain focused on cost management Focus on fiber growth Solid AT&T Fiber gains; penetration exceeding 35% Expect EBITDA growth to improve in second half of 2021 April 22, 2021/ © 2021 AT&T Intellectual Property - AT&T Proprietary AT&T

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