AT&T Results Presentation Deck

7 4Q23 Financial Summary Continuing Operations, $ in billions, except EPS Revenues $31.3 $32.0 4Q22 4Q23 Adjusted EPS +4 Adj. Ol Margint3 Continuing Operations Reported EPS Adjustments: $0.61 $0.54 18.0% 18.1% 4Q22 4Q23 DIRECTV intangible amortization (proportionate share) Actuarial (gain)/loss Impairments, abandonments and restructuring Tax items and other adjustments Continuing Operations Adjusted EPS 4Q22 ($3.20) $0.04 $0.19 $3.57 Cash from Ops Free Cash Flow+² $11.4 $0.01 $0.61 $10.3 $6.1 4Q22 $6.4 4Q23 4Q23 $0.30 $0.03 $0.18 $0.06 ($0.03) $0.54 Ⓒ2024 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. Revenue growth driven by subscriber and ARPU gains Revenues of $32.0B, up 2.2%; 2023 revenues of $122.4, up 1.4% Mobility service revenue growth of 3.9%; up 4.4% for 2023 Consumer broadband revenue growth of 8.3%; up 8.1% for 2023 ● ● Adjusted EPS¹4 of $0.54; $2.41 for 2023 4Q23 includes ~($0.10) impact from higher non-cash pension costs, lower capitalized interest, lower equity income from DIRECTV and higher effective tax rate Cash from operations of $11.4B; $38.3B for 2023, up $2.5B Free cash flowt² of $6.4B; includes $0.9B from DIRECTV ● ● ● ● Capital expenditures of $4.6B Capital investment 5 of $5.6B; includes $1.0B of vendor financing payments 2023 free cash flowt2 of $16.8B, up $2.6B t See notes slide 12 AT&T

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