AT&T Results Presentation Deck

2022 Financial Outlook 11 REVENUE GROWTH ex Video +5 Wireless Service Rev Growth EPS-ADJUSTED +7 GROSS CAPITAL INVESTMENT+6 Capital Expenditures FREE CASH FLOW+² *Assumes inclusion of WarnerMedia and Xandr results for full year **Assumes inclusion of Xandr results for full year January 26, 2022 / © 2022 AT&T Intellectual Property - AT&T Proprietary 2022 Consolidated Guidance* Low single digits 3%+ $3.10-$3.15 $24B range $20B range $23B range + See notes slide 13 2022 WarnerMedia Guidance** Revenue in the $37-$39B range EBITDA in the $6-$7B range Contribution of approximately $3B AT&T

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