AT&T Results Presentation Deck

5 1Q22 Consolidated Financial Summary $ in billions, except EPS Revenues Revenues ex Video+¹ Video impact $43.9 $37.5 $38.1 1Q21 1Q22 Adjusted EPS Adj. Ol Margint² $0.85 $0.77 20.1% 18.6% 1Q21 1Q22 Reported EPS Adjustments: Amortization of intangibles DIRECTV intangible amortization (proportionate share) Transaction costs Actuarial gain on benefit plans Other adjustments Adjusted EPS Cash from Ops Free Cash Flowt3 $9.9 $4.2 $0.7 1Q21 1Q22 1Q21 $1.02 $5.7 $0.12 $0.01 ($0.29) ($0.01) $0.85 1Q22 $0.65 $0.10 $0.04 $0.04 ($0.11) $0.05 $0.77 Solid revenue growth on a comparable basis 1Q22 Reported revenues of $38.1B Excluding Video¹¹, revenues were up $0.6B, or 1.6% Adjusted EPS of $0.77 Cash from operations of $5.7B Free Cash Flowt3 of $0.7B; includes $1.8B from DIRECTV Capital expenditures of $4.7B Capital Investment¹4 of $6.3B, up $0.6B; 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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