AT&T Reiterates All FY25 And Multi-Year Financial Guidance And Capital Return Plans Expects To Close Its Transactions With Lumen And EchoStar In Early 2026; Remains On Track To Reach More Than 60M Total Fiber Locations By End Of 2030; Expects Its Operating Performance In Q4 To Show Gains In Its Base Of Customers That Subscribe To Both AT&T Fiber And Its Mobility Services; Expects To Maintain A Consistent Approach To Capital Returns During 2028-2029 While Reducing Its Net Debt-To-Adjusted EBITDA Ratio

Tomorrow, AT&T's Chairman and Chief Executive Officer will participate in a fireside chat at 8:15 a.m. ET to discuss the Company's progress on its multi-year growth strategy

Key Takeaways:

• AT&T reiterates all full-year 2025 and multi-year financial guidance and capital return plans provided with its third-quarter 2025 earnings report, including $4 billion of share repurchases in 2025 and an expected $20 billion of share repurchase capacity during 2025-2027
• AT&T continues to win 5G and fiber customers through solid execution on its multi-year growth plan centered on putting customers first
• AT&T expects to close its transactions with Lumen and EchoStar in early 2026

John Stankey, Chairman and Chief Executive Officer, AT&T (NYSE:T), will speak tomorrow at the UBS Global Media & Communications Conference where he will provide an update to shareholders. Stankey is expected to cover the following key topics.

AT&T's differentiated investment-led strategy positions the Company to become America's leading advanced connectivity provider

AT&T remains committed to accelerating access to advanced high-speed internet and wireless connectivity for millions of Americans in the way they prefer – with fiber and 5G together.

The Company is making significant progress in modernizing and strengthening its network. This includes deploying the mid-band spectrum it has agreed to acquire from EchoStar – under a short-term spectrum manager lease – unlocking substantial increases in speed and capacity for customers in more than 5,300 cities across 48 states1. In addition to supporting expanded availability of AT&T Internet Air in 2026, AT&T expects this transaction to support strong and sustained growth in its high-value base of converged customers that subscribe to both its home internet and 5G wireless services. The transaction is expected to close in early 2026, subject to certain closing conditions, including regulatory approvals.

AT&T expects to continue accelerating the pace of its fiber reach through its organic capital investment and through its agreement to acquire substantially all of Lumen's Mass Markets fiber internet connectivity business, which is expected to close in early 2026, subject to certain regulatory and other customary closing conditions. The Company remains on track to reach more than 60 million total fiber locations by the end of 20302.

These actions to enhance the Company's wireless and fiber networks will drive investment in critical U.S. connectivity infrastructure, create new jobs and accelerate access to advanced high-speed internet connectivity through fiber and 5G.

AT&T is seeing solid customer demand and remains on track to achieve its 2025 financial guidance

AT&T reiterates all full-year 2025 and multi-year financial guidance and capital return plans provided with its third-quarter 2025 earnings report, including $4 billion of share repurchases in 2025 and an expected $20 billion of share repurchase capacity during 2025-2027.

AT&T is pleased with how the Mobility business is performing and continues to expect seasonally lower postpaid phone ARPU in the fourth quarter. The Company continues to expand access to AT&T Fiber – the fastest, top-rated internet nationwide3 – and AT&T Internet Air. AT&T continues to expect that subscriber net additions for each of these services will be higher during the second half of 2025 than it reported during the first half of the year, including an expectation for seasonal trends in net adds during the fourth quarter.

Consistent with recent trends, the Company expects its operating performance in the fourth quarter to show gains in its base of customers that subscribe to both AT&T Fiber and its Mobility services.