AT&T Results Presentation Deck

3Q21 WarnerMedia Segment $ in billions Revenues 8 EBITDA †2 EBITDA Margin †2 WarnerMedia $7.4 J $1.9 25.9% 3Q20 $8.4 $1.6 $2.2 Direct-to-Consumer 3Q20 25.7% 3Q21 Subscription Revenues $2.0 3Q21 Strong subscription growth offset sports timing impacts on advertising WarnerMedia revenues up ~14% driven by strong DTC subscription growth and content licensing 3Q21 includes ~$200M in DIRECTV advertising revenue sharing costs DTC subscription revenue growth of ~25% Strong HBO Max subscriber growth in Latin America; Spain and the Nordics launch in October International and AVOD subscriber growth more than offset impact from Amazon wholesale losses millions Global HBO Max and HBO Subscribers 69.4 56.9 38.0 45.2 3Q20 3Q21 October 21, 2021 / 2021 AT&T Intellectual Property - AT&T Proprietary †1 International Domestic + See notes slide 10 MAKE YOUR MOVE SUCCESSION HBOMAX WILL SMITH.. KING KICHARD HEAD IN THE FIEL IN THEATEST SEAT OCTOBER 22 4Q21 content slate is strong THE CHOICE IN YOURS 12.22.21 IN THEATERSTON AT&T

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