Slide 1: Exhibit 99.2 Q1 2022
EXHIBIT 99.2 DOK FE 012022
Slide 2: Contents
2 3 Highlights 4 Customer Metrics 7 Financial Metrics 13 Capital Structure 14 5G Network Leadership 15 Merger & Integration 16 Guidance 17 Contacts 18 Financial and Operational Tables
Slide 3: Industry-Leading Growth in Postpaid Accounts and Customers in Q1 2022
3 T-Mobile Delivers Industry-Leading Growth in Postpaid Accounts and Customers in Q1 2022 Fueled by 5G Network Leadership “T-Mobile continues to be the growth leader in this industry, with another beat and raise quarter that delivered front-of-the-pack postpaid, new account, and broadband customer r
Slide 4: Postpaid Accounts, ARPA and ARPU
4 Postpaid Accounts Year-Over-Year (in thousands) Postpaid net account additions increased primarily due 26,901 27,216 27,507 to: 26,014 26,363 ■ Continued focus on growing new relationships with customers driven by higher switching activity and growth in new and under-penetrated segments, including
Slide 5: Postpaid Customers
5 Postpaid Customers Year-Over-Year (in thousands) Postpaid phone net customer additions decreased 85,913 87,663 88,423 primarily due to: 82,572 83,848 ■ Lower gross additions driven by a focus on deepening 1,750 Sprint customer relationships in the prior year in order to decrease churn, as Sprint c
Slide 6: Prepaid and High Speed Internet Customers
6 Prepaid Customers Year-Over-Year (in thousands) Prepaid net customer additions decreased primarily due 20,865 20,941 21,007 21,056 21,118 to: ■ Lower gross additions associated with the continued industry shift to postpaid plans 151 ■ Partially offset by lower churn 76 66 49 62 Sequential Prepaid
Slide 7: Service Revenues and Postpaid Service Revenues
7 Service Revenues Year-Over-Year ($ in millions) Service revenues increased 7% primarily due to: ■ Increase in Postpaid service revenues $15,128 ■ Increase in Prepaid service revenues $14,963 $14,722 $14,492 $14,192 Sequential Service revenues increased 1% primarily due to: ■ Increase in Postpaid s
Slide 8: Equipment Revenues
8 Equipment Revenues Year-Over-Year ($ in millions) Equipment revenue decreased 12% primarily due to: ■ Lower lease revenues and lower customer purchases of $5,506 leased devices driven by a continued strategic shift from $5,346 $5,215 device financing to equipment installment plans $4,660 $623 $4,6
Slide 9: Cost of Services, exclusive of D&A
9 Cost of Services, exclusive of D&A Year-Over-Year ($ in millions, % of Service revenues) Cost of services, exclusive of D&A, increased 10% primarily due to: $3,538 $3,727 $3,384 $3,491 $3,521 ■ Higher Merger-related costs related to network decommissioning and integration ■ Higher lease expenses r
Slide 10: Net Income and Diluted Earnings Per Share
10 Net Income Year-Over-Year ($ in millions, % of Service revenues) Net income decreased 24% and Diluted EPS decreased 23% primarily due to: $978 ■ Higher Cost of equipment sales $933 ■ Lower Equipment revenues $713 ■ Higher Cost of services $691 ■ Higher SG&A expenses ■ Partially offset by higher S
Slide 11: Core Adjusted EBITDA and Operating Cash Flow
11 Core Adjusted EBITDA* Year-Over-Year ($ in millions, % of Service revenues) Core Adjusted EBITDA increased 10% primarily due to: ■ Higher Service revenues $6,463 $5,992 $6,041 ■ Lower Cost of services, excluding Merger-related costs $5,864 $5,679 ■ Partially offset by higher SG&A expenses, exclud
Slide 12: Cash Purchases of Property and Equipment; Free Cash Flow
12 Cash Purchases of Property and Year-Over-Year Equipment ($ in millions, % of Service revenues) Cash purchases of property and equipment increased 6% primarily due to: ■ Accelerated build-out of our nationwide 5G network $3,270 $3,381 $3,183 $2,944 $2,929 Sequential Cash purchases of property and
Slide 13: Net Debt and Net Debt to LTM Core Adj. EBITDA Ratio
13 Total debt, excluding tower obligations, at the end of Q1 Net Debt (Excluding Tower 2022 was $75.0 billion. Obligations) & Net Debt to LTM Core Net debt, excluding tower obligations, at the end of Q1 Adj. EBITDA Ratio 2022 was $71.8 billion. ($ in billions) ■ The ratio of net debt, excluding towe
Slide 14: 5G Network Leadership
5G Network Leadership Further Extending Our Unrivaled 5G Leadership 5G Geographic Coverage S | te S Combined LTE + 5G Macro Cell Sites Mo 4cite ae Small cell/distributed poN antenna systems sites Delivering more 5G geographic coverage than Verizon and AT&T combined EXTENDED 5 re ULTRA 5 G RANGE CAPA
Slide 15: Merger synergies guidance raised to $5.2 to $5.4 billion
15 T-Mobile raises Merger synergies guidance range to $5.2 to $5.4 billion in 2022 driven by accelerated integration progress. The Company expects full-year 2022 Merger synergies to be $5.2 billion to $5.4 billion: ▪ $2.3 billion to $2.4 billion of SG&A expense reductions. ▪ $1.6 billion to $1.7 bil
Slide 16: 2022 Outlook
16 2022 Outlook Metric Previous Revised Change at Midpoint Postpaid net customer additions 5.0 to 5.5 million 5.3 to 5.8 million 300 thousand Net income (1) N/A N/A N/A Core Adjusted EBITDA (2) $25.6 to $26.1 billion $25.8 to $26.2 billion $150 million Merger synergies $5.0 to $5.3 billion $5.2 to $
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: Condensed Consolidated Balance Sheets
T-Mobile US, Inc. Condensed Consolidated Balance Sheets (Unaudited) (in millions, except share and per share amounts) March 31, 2022 December 31, 2021 Assets Current assets Cash and cash equivalents $ 3,245 $ 6,631 Accounts receivable, net of allowance for credit losses of $164 and $146 4,016 4,194
Slide 19: Condensed Consolidated Statements of Comprehensive Income
T-Mobile US, Inc. Condensed Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended March 31, December 31, March 31, (in millions, except share and per share amounts) 2022 2021 2021 Revenues Postpaid revenues $ 11,201 $ 10,963 $ 10,303 Prepaid revenues 2,455 2,474 2,351 Wholes
Slide 20: Condensed Consolidated Statements of Cash Flows
T-Mobile US, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) Three Months Ended March 31, December 31, March 31, (in millions) 2022 2021 2021 Operating activities Net income $ 713 $ 422 $ 933 Adjustments to reconcile net income to net cash provided by operating activities Depreciati
Slide 21: Statements of Cash Flows (Continued)
T-Mobile US, Inc. Condensed Consolidated Statements of Cash Flows (Continued) (Unaudited) Three Months Ended March 31, December 31, March 31, (in millions) 2022 2021 2021 Supplemental disclosure of cash flow information Interest payments, net of amounts capitalized $ 778 $ 981 $ 945 Operating lease
Slide 22: Supplementary Operating and Financial Data
T-Mobile US, Inc. Supplementary Operating and Financial Data (Unaudited) Quarter (in thousands) Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Customers, end of period Postpaid phone customers (1)(2) 67,402 68,029 69,418 70,262 70,656 Postpaid other customers (1)(2) 15,170 15,819 16,495 17,401 17,767 Total
Slide 23: Supplementary Operating and Financial Data
T-Mobile US, Inc. Supplementary Operating and Financial Data (Unaudited) Quarter (in thousands) Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Accounts, end of period Total postpaid customer accounts (1)(2) 26,014 26,363 26,901 27,216 27,507 (1) Customers impacted by the decommissioning of the legacy Sprin
Slide 24: Supplementary Operating and Financial Data (continued)
T-Mobile US, Inc. Supplementary Operating and Financial Data (continued) (Unaudited) Quarter (in millions, except percentages) Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Financial Measures Service revenues $14,192 $14,492 $14,722 $14,963 $15,128 Equipment revenue $ 5,346 $ 5,215 $ 4,660 $ 5,506 $ 4,694
Slide 25: Reconciliation of Non-GAAP Financial Measures to GAAP
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 accordance
Slide 26: Reconciliation of Non-GAAP Financial Measures (continued)
T-Mobile US, Inc. Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures (continued) (Unaudited) Net debt (excluding tower obligations) to the LTM Adjusted EBITDA and LTM Core Adjusted EBITDA ratios are calculated as follows: Mar 31, Jun 30, Sep 30, Dec 31, Mar 31, (in millions, ex
Slide 27: Reconciliation of Non-GAAP Financial Measures (continued)
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 2022 (in millions) Guidance Range Net cash provided by operating activities $ 15,700 $ 16,100 Cash purchases o
Slide 28: Definitions of Terms
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-Mobile
Slide 29: Cautionary Statement Regarding Forward-Looking Statements
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.’s f