AT&T Results Presentation Deck

6 1Q22 Standalone AT&T* Financial Summary $ in billions, except EPS Revenues +6 Revenues $29.0 $29.7 1Q21 1Q22 Adjusted EPS+5 Adj. Ol Margin +2,5 $0.58 $0.63 20.0% 19.4% 1Q21 1Q22 Cash from Opst7 Free Cash Flowt7 $9.4 $3.8 $7.7 $2.9 1Q21 1Q22 * "Standalone AT&T" results represent AT&T's remaining businesses and reflect the exclusion of WarnerMedia, Video operations, Vrio and other dispositions. See notes 5-7 on slide 12. Solid revenue growth 1Q22 Standalone AT&T Revenuest6 of $29.7B, up 2.5% Strong wireless and broadband revenue growth Standalone AT&T adjusted EPS of $0.63 +5 1Q22 impacted by timing of 3G shutdown and success-based investments Standalone AT&T cash from operations of $7.7B Free cash flowt7 of $2.9B reflects seasonality, higher investment and $1.8B from DIRECTV Capital expenditurest7 of $4.5B Capital Investment¹7 of $6.1B, up $0.5B; includes $1.6B in vendor financing payments © 2022 AT&T Intellectual Property. AT&T and globe logo are registered trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies. + See notes slide 12 AT&T

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