AT&T Results Presentation Deck

1Q23 Financial Summary Continuing Operations, $ in billions, except EPS Revenues $29.7 $30.1 1Q22 1Q23 Adjusted EPS+² Adj. Ol Margin¹¹ Continuing Operations Reported EPS Adjustments: $0.63 $0.60 19.4% 19.8% O 1Q22 1Q23 DIRECTV intangible amortization (proportionate share) Actuarial (gain)/loss on benefit plans Other adjustments Continuing Operations Adjusted EPS 1Q22 $0.65 Cash from Ops Free Cash Flow +3 $0.04 ($0.11) $0.05 $0.63 $7.6 $2.8 $6.7 $1.0 1Q22 1Q23 1Q23 $0.57 $0.04 ($0.01) $0.60 © 2023 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. 6 Revenue growth driven by subscriber and ARPU gains Revenues of $30.1B, up $0.4B Mobility service revenue growth of 5.2% Consumer Broadband revenue growth of 7.3% ● Adjusted EPS of $0.60 Includes ~($0.06) impact from higher pension costs, lower DIRECTV contribution and higher tax rate t See notes slide 10 ● Cash from operations of $6.7B Free cash flowt3 of $1.0B reflects seasonality, capital investment cadence and timing of working capital; includes $1.3B from DIRECTV ● Capital expenditures of $4.3B ● • Capital investment¹4 of $6.4B, up $0.3B; includes $2.1B of vendor financing payments ● AT&T

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