Slide 1: Investor Factbook Q4 2022
EXHIBIT 99.2 IY INVESTOR © a fw FACTBOOK 04 2022
Slide 2: Contents
2 3 Highlights 4 Customer Metrics 7 Financial Metrics 13 Capital Structure 14 Network Leadership 15 Merger & Integration 16 Guidance 17 Contacts 18 Financial and Operational Tables
Slide 3: T-Mobile Delivers Industry-Leading Customer, Postpaid Service Revenue and Cash Flow Growth in Q4 2022
3 T-Mobile Delivers Industry-Leading Customer, Postpaid Service Revenue and Cash Flow Growth in Q4 2022 “With record postpaid account and customer net adds that translated into industry- leading postpaid service revenue and cash flow growth, T-Mobile absolutely smashed 2022 by once again focusing on
Slide 4: Postpaid Accounts
4 Postpaid Accounts Year-Over-Year (in thousands) Postpaid net account additions were relatively flat primarily due to: 28,212 28,526 27,818 ■ Lower switching activity as industry growth begins to 27,216 27,507 normalize closer to pre COVID-19 pandemic levels ■ Offset by an increased share of new cu
Slide 5: Postpaid Customers
5 Postpaid Customers Year-Over-Year (in thousands) Postpaid phone net customer additions increased 88,423 88,787 90,414 92,232 primarily due to: 87,663 ■ Lower churn 1,750 1,818 ■ Partially offset by lower gross additions driven by 1,656 1,627 industry switching activity normalizing closer to pre 1,
Slide 6: Prepaid Customers and High Speed Internet Customers
6 Prepaid Customers Year-Over-Year (in thousands) Prepaid net customer additions decreased primarily due 21,341 21,366 to: 21,056 21,118 21,236 ■ Lower gross additions driven by industry switching activity 146 ■ Partially offset by growth in High Speed Internet 105 49 62 Sequential 25 Prepaid net cu
Slide 7: Service Revenues and Postpaid Service Revenues
7 Service Revenues Year-Over-Year ($ in millions) Service revenues increased 4% primarily due to: ■ Increase in Postpaid service revenues $15,361 $15,518 $15,316 ■ Partially offset by a decrease in Wholesale and other $15,128 $14,963 service revenues Sequential Service revenues increased slightly pr
Slide 8: Equipment Revenues
8 Equipment Revenues Year-Over-Year ($ in millions) Equipment revenues decreased 19% primarily due to: ■ Lower lease revenues $5,506 ■ A lower number of devices sold primarily driven by fewer postpaid upgrades and prepaid sales $623 $4,694 ■ An increase in contra revenue primarily driven by higher $
Slide 9: Cost of Services and SG&A
9 Cost of Services, exclusive of D&A Year-Over-Year ($ in millions, % of Service revenues) Cost of services, exclusive of D&A, decreased 10% $4,060 primarily due to: $3,727 $3,712 ■ Higher realized Merger synergies $3,521 $3,167 ■ Partially offset by higher site costs related to the continued build-
Slide 10: Net Income and Diluted Earnings Per Share
10 Net Income (Loss) Year-Over-Year ($ in millions, % of Service revenues) Net income was $1.5 billion and Diluted earnings per share was $1.18 in Q4 2022, compared to $422 million $1,477 and $0.34 in Q4 2021, primarily due to the factors described above and included the following, net of tax: ■ Mer
Slide 11: Core Adjusted EBITDA
11 Core Adjusted EBITDA* Year-Over-Year ($ in millions, % of Service revenues) Core Adjusted EBITDA increased 16% primarily due to: ■ Lower Cost of equipment sales, excluding Merger- $6,618 $6,728 $6,582 related costs $6,463 ■ Higher Service revenues $5,679 ■ Lower Cost of services, excluding Merger
Slide 12: Cash Purchases of Property and Equipment and Free Cash Flow
12 Cash Purchases of Property and Year-Over-Year Equipment ($ in millions, % of Service revenues) Cash purchases of property and equipment, including capitalized interest, increased 16% primarily due to: $3,572 $3,634 ■ Accelerated nationwide 5G network build-out $3,381 $3,383 $2,929 Sequential 23.7
Slide 13: Net Debt and Net Debt Ratios
13 Total debt, excluding tower obligations, at the end of Q4 Net Debt (Excluding Tower 2022 was $74.5 billion. Obligations) & Net Debt to LTM Net Net debt, excluding tower obligations, at the end of Q4 Income and Core Adj. EBITDA 2022 was $70.0 billion. Ratios ($ in billions) ■ On September 8, 2022,
Slide 14: Network Leadership
Network Leadership Unmatched 5G Network Experience Translating Into Overall Network Leadership G &, OOKLA OPENSiGNAL umlaut T-Mobile’s overall network performance T-Mobile secured major wins on overall In its latest SG Network Performance Audit swept the competition and placed first network, winning
Slide 15: Merger Synergies
15 T-Mobile delivered ~$6 billion in Merger synergies in 2022, increasing nearly 60% from 2021, primarily driven by accelerated network integration The company realized full-year 2022 Merger synergies during the year of approximately $6.0 billion, comprised of the following: ▪ $2.5 billion of SG&A e
Slide 16: 2023 Outlook
16 2023 Outlook Postpaid net customer additions 5.0 to 5.5 million Net income (1) N/A Core Adjusted EBITDA (2) $28.7 to $29.2 billion Merger synergies $7.2 to $7.5 billion Merger-related costs (3) ~$1.0 billion Net cash provided by operating activities $17.8 to $18.3 billion Capital expenditures (4)
Slide 17: Investor Relations
17 Investor Relations Jud Henry Justin Taiber Trina Schurman Senior Vice President Senior Director Senior Director Investor Relations Investor Relations Investor Relations Samia Bhatti Zach Witterstaetter Rose Kopecky Jacob Marks Investor Relations Investor Relations Investor Relations Investor Rela
Slide 18: Consolidated Balance Sheets
18 T-Mobile US, Inc. Consolidated Balance Sheets (Unaudited) December 31, December 31, (in millions, except share and per share amounts) 2022 2021 Assets Current assets Cash and cash equivalents $ 4,507 $ 6,631 Accounts receivable, net of allowance for credit losses of $167 and $146 4,445 4,194 Equi
Slide 19: Consolidated Statements of Comprehensive Income
19 T-Mobile US, Inc. Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended Year Ended December 31, December 31, September 30, December 31, (in millions, except share and per share amounts) 2022 2022 2021 2022 2021 Revenues Postpaid revenues $ 11,725 $ 11,548 $ 10,963 $ 45,91
Slide 20: Consolidated Statements of Cash Flows
20 T-Mobile US, Inc. Consolidated Statements of Cash Flows (Unaudited) Three Months Ended Year Ended December 31, December 31, September 30, December 31, (in millions) 2022 2022 2021 2022 2021 Operating activities Net income $ 1,477 $ 508 $ 422 $ 2,590 $ 3,024 Adjustments to reconcile net income to
Slide 21: Consolidated Statements of Cash Flows (Continued)
21 T-Mobile US, Inc. Consolidated Statements of Cash Flows (Continued) (Unaudited) Three Months Ended Year Ended December 31, December 31, September 30, December 31, (in millions) 2022 2022 2021 2022 2021 Supplemental disclosure of cash flow information Interest payments, net of amounts capitalized
Slide 22: Supplementary Operating and Financial Data
22 T-Mobile US, Inc. Supplementary Operating and Financial Data (Unaudited) Year Ended Quarter December 31, (in thousands) Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 2021 2022 Customers, end of period Postpaid phone customers (1)(2) 67,402 68,029 69,418 70,262 70,656 71,053 71,9
Slide 23: Supplementary Operating and Financial Data
23 T-Mobile US, Inc. Supplementary Operating and Financial Data (Unaudited) Year Ended Quarter December 31, (in thousands) Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 2021 2022 Accounts, end of period Total postpaid customer accounts (1)(2) 26,014 26,363 26,901 27,216 27,507 27,8
Slide 24: Supplementary Operating and Financial Data (continued)
24 T-Mobile US, Inc. Supplementary Operating and Financial Data (continued) (Unaudited) Year Ended Quarter December 31, (in millions, except percentages) Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 2021 2022 Financial Measures Service revenues $14,192 $14,492 $14,722 $14,963 $15,
Slide 25: Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures
25 T-Mobile US, Inc. Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures (Unaudited) This Investor Factbook includes non-GAAP financial measures. The non-GAAP financial measures should be considered in addition to, but not as a substitute for, the information provided in accorda
Slide 26: Reconciliation of Non-GAAP Financial Measures (continued)
26 T-Mobile US, Inc. Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures (continued) (Unaudited) Net debt (excluding tower obligations) to the LTM Net income, LTM Adjusted EBITDA and LTM Core Adjusted EBITDA ratios are calculated as follows: Mar 31, Jun 30, Sep 30, Dec 31, Mar 3
Slide 27: Free Cash Flow Guidance Reconciliation
27 T-Mobile US, Inc. Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures (continued) (Unaudited) The current guidance range for Free Cash Flow is calculated as follows: FY 2023 (in millions) Guidance Range Net cash provided by operating activities $ 17,800 $ 18,300 Cash purchase
Slide 28: Definitions of Terms
28 Definitions of Terms Operating and financial measures are utilized by T-Mobile’s management to evaluate its operating performance and, in certain cases, its ability to meet liquidity requirements. Although companies in the wireless industry may not define measures in precisely the same way, T-Mob
Slide 29: Cautionary Statement Regarding Forward-Looking Statements
29 Cautionary Statement Regarding Forward-Looking Statements This communication includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including information concerning T-Mobile US, Inc.’