AT&T Results Presentation Deck

3Q21 Financial Summary $ in billions, except EPS 6 Adjusted EPS Adj. Ol Margint2 $0.76 $0.87 19.4% 21.1% 3Q20 3Q21 Revenues Revenues Ex U.S. Video +4 U.S. Video impact $42.3 $39.9 $38.1 $36.4 3Q20 3Q21 Reported EPS Adjustments: Amortization of intangibles DIRECTV intangible amortization (proportionate share) Gain on sale of assets Actuarial loss/(gain) on benefit plans Debt redemption and other adjustments Adjusted EPS Cash from Ops Free Cash Flow +3 CAPEX $12.1 $8.3 $3.9 3Q20 $0.39 3Q20 3Q21 $0.22 $0.01 $0.14 $0.76 $9.9 $5.2 October 21, 2021 / 2021 AT&T Intellectual Property - AT&T Proprietary $4.7 3Q21 $0.82 $0.11 $0.04 ($0.08) ($0.04) $0.02 $0.87 Solid revenue growth on a comparable basis 3Q21 reported revenues of $39.9B included one month of U.S. Video Excluding U.S. Video ¹4, revenues up $1.7B, or 4.7% Adjusted EPS of $0.87 Up 14.5% year over year Strong cash flows and liquidity position Cash from operations of $9.9B Capex of $4.7B; gross capital investment ¹5 of $5.7B $5.2B free cash flow¹³; YTD dividend payout ratio¹³ of ~63% ~$10B of asset monetizations closed, including DIRECTV/TPG transaction + See notes slide 10 AT&T

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