2023 Business Priorities - Accomplishments
1
Grow durable 5G and
Fiber relationships
• Sustained success with
consistent and disciplined goto-market strategy
• 5G Wireless – added 1.7 million
postpaid phone subscribers and
grew service revenues 4.4%
• Fiber – added 1.1 million
consumer subscribers and grew
Fiber revenues ~27%

2
Effective and efficient in
everything we do
• Achieved targeted $6B+ in runrate cost savings
• Expanded cost savings target
to an additional $2B+ by mid 2026
• Implemented efficiencies,
enhanced customer experiences
and drove scale benefits that
improved operating leverage

3
Deliberate capital
allocation
• Invested in growth – surpassed
210 million POPs with 5G mid-band
spectrum and more than 26 million
locations passed with fiber
• Strengthened balance sheet –
reduced net debt to Adj. EBITDA†1
from 3.19x to 2.97x
• Provided an attractive dividend
with improved quality – generated
$16.8B of free cash flow†2
see & read more on
https://investors.att.com/~/media/Files/A/ATT-IR-V2/financial-reports/quarterly-earnings/2023/4q-2023/4Q23_ATT_Earnings.pdf