T‑Mobile’s Unique Formula Delivers Industry‑Leading Service Revenue and Cash Flow Growth

Industry-Leading and Record-High Postpaid Account and Postpaid Customer Net Additions in 2021(1)

  • Postpaid net account additions of 315 thousand in Q4 2021 — 1.2 million in full-year 2021, more than doubled year-over-year
  • Postpaid net customer additions of 1.8 million in Q4 2021 — 5.5 million in full-year 2021, exceeded guidance
  • Postpaid phone net customer additions of 844 thousand in Q4 2021 — 2.9 million in full-year 2021, increased 32% year-over-year
  • High Speed Internet net customer additions of 224 thousand in Q4 2021, highest in industry— 546 thousand in full-year 2021

Differentiated Growth Model Unlocks Industry-Leading Service Revenue and Cash Flow Growth in 2021

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  • Service revenues of $15.0 billion in Q4 2021 — $58.4 billion in full-year 2021, record-high
  • Net income of $422 million in Q4 2021 — $3.0 billion in full-year 2021
  • Core Adjusted EBITDA(2) of $5.7 billion in Q4 2021 — $23.6 billion in full-year 2021, exceeded guidance
  • Net cash provided by operating activities of $3.0 billion in Q4 2021 — $13.9 billion in full-year 2021, grew more than 60% year-over-year
  • Free Cash Flow(2) of $1.1 billion in Q4 2021 — $5.6 billion in full-year 2021, nearly doubled year-over-year(3)

Award-Winning 5G Network Pulls Further Ahead of Competition as Merger Synergies Ramp

  • Ultra Capacity 5G covered 210 million people and Extended Range 5G covered 94% of people at year-end
  • Merger synergies of $3.8 billion in full-year 2021 increased nearly 3x year-over-year, exceeded guidance

Doing Good – the Un-carrier way – Leading the Industry to Build Sustainable Future and Bridge Digital Divide

  • First and only U.S. wireless provider to commit to and achieve its RE100 goal in 2021, years ahead of others
  • Project 10Million connected 3.2 million students and High Speed Internet reaches 10 million rural households

Strong 2022 Outlook on Continued Industry-Leading Postpaid Customer Growth and Merger Synergies(4)

  • Core Adjusted EBITDA(2) is expected to grow approximately 10% year-over-year at mid-point of guidance
  • Net cash provided by operating activities is expected to grow more than 10% year-over-year and Free Cash Flow(2) is expected to grow more than 30% year-over-year at mid-point of guidance

(1) AT&T Inc. historically does not disclose postpaid net account additions.
(2) Core Adjusted EBITDA and Free Cash Flow are non-GAAP financial measures. These non-GAAP financial measures should be considered in addition to, but not as a substitute for, the information provided in accordance with GAAP. Reconciliations for these non-GAAP financial measures to the most directly comparable GAAP financial measures are provided in the Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures tables. We are not able to forecast Net income on a forward-looking basis without unreasonable efforts due to the high variability and difficulty in predicting certain items that affect Net income including, but not limited to, Income tax expense, stock-based compensation expense and Interest expense.
Core Adjusted EBITDA should not be used to predict Net income as the difference between either of the two measures and Net Income is variable.
(3) As compared to Free Cash Flow excluding gross payments for the settlement of interest rate swaps in 2020.
(4) Postpaid customer growth is based on industry consensus expectations.

T-Mobile US, Inc. (NASDAQ: TMUS) reported fourth quarter and full-year 2021 results today, delivering industry-leading service revenue and cash flow growth in 2021 enabled by its differentiated customer growth momentum and synergy-backed model. T-Mobile’s unmatched network and value combination resulted in record-high and industry-leading postpaid account and customer growth in 2021.

“T-Mobile had our strongest year ever. We didn’t just meet the bold goals we set for 2021 around customer growth, profitability, merger synergies and network buildout – we crushed all of them,” said Mike Sievert, T-Mobile CEO. “Our industry-leading year-end results – adding 1.2 million postpaid accounts and 5.5 million postpaid customers, extending Ultra Capacity 5G to 210 million people – show that the Un-carrier is experiencing the greatest growth momentum in wireless. And we’re poised to sustain that position into 2022 and beyond as we continue to execute on our winning playbook and consistently make investments that have enabled our success. With plenty of room to run, we’re in the best-ever position to continue delivering.”