UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-33409 T-MOBILE US, INC. (Exact name of registrant as specified in its charter) Delaware 20-0836269 (State or other jurisdiction of incor ...

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T-Mobile US, Inc. Conference Call Summary Company Overview - **Company**: T-Mobile US, Inc. (NASDAQ: TMUS) - **Event**: Goldman Sachs Communacopia + Technology Conference - **Date**: September 6, 2023 - **Participants**: Mike Sievert (President & CEO), Brett Feldman (Goldman Sachs) Key Points Industry and Company Performance - T-Mobile has achieved coverage of over 300 million pops with mid-band spectrum and is on track to realize $7.5 billion in merger synergies [2][3] - The company is focused on leveraging its network strengths to deliver superior value and cash flow growth, aiming for $16 billion to $18 billion in cash flows for the next year [5][6] - T-Mobile's strategy post-merger is yielding strong performance, with a significant shareholder remuneration program of $19 billion authorized for the next five quarters, including a $3 billion annual dividend [5][6] Financial Outlook - The company expects to grow dividends by approximately 10% per year after the initial $3 billion annual dividend [6] - T-Mobile is targeting a long-term leverage ratio in the mid-twos, projected to reach about 2.5 next year [6][7] - The company is also planning for capital expenditures related to spectrum acquisitions and other business opportunities while maintaining a robust cash flow [7] Market Position and Competitive Landscape - T-Mobile's management is optimistic about the wireless sector, asserting that the company is well-positioned to navigate increased competition [22][23] - The company has reported the lowest churn in its history and significant cash flow growth, indicating a healthy business model [24] - T-Mobile's fixed wireless service is gaining traction, with a focus on simplicity and customer satisfaction, outperforming expectations in the market [44][46] Strategic Initiatives - T-Mobile is reducing its workforce by about 5,000 employees (7% of total workforce) to enhance efficiency and reclaim cultural characteristics that contributed to its success [16][18] - The company is actively exploring growth opportunities in rural markets and enterprise solutions, with significant progress reported in both areas [51][53] - T-Mobile's prepaid brand, Metro, remains a strong asset, contributing to financial stability and customer loyalty [60] Future Plans and Innovations - T-Mobile is committed to maintaining its lead in 5G deployment, with plans to cover 300 million people with mid-band spectrum by the end of the year [63] - The company is exploring additional capital-light strategies to enhance its broadband offerings and is open to partnerships to expand its market reach [50][51] - T-Mobile's management emphasizes the importance of executing their business plan to sustain competitive advantages and shareholder value [62][64] Conclusion - T-Mobile US, Inc. is positioned for continued growth and profitability, with a strong focus on cash flow generation, shareholder returns, and maintaining its competitive edge in the wireless market. The company's strategic initiatives and market performance reflect a robust outlook for the future.

Financial Data and Key Metrics Changes - T-Mobile reported a year-over-year increase of over 5% in postpaid service revenue, driven by growth in postpaid accounts and average revenue per account (ARPA) [14] - Core adjusted EBITDA grew by 11% year-over-year, with a margin increase of over 300 basis points [14] - Free cash flow increased by 64% year-over-year, with the highest free cash flow to service revenue margin relative to peers [15] Business Line Data and Key Metrics Changes - T-Mobile achieved 1.6 million postpaid net additions, including 760,000 postpaid phone net adds, the highest in eight years [10] - The company reported record performance in T-Mobile for Business, with the best-ever phone net adds and lowest phone churn [10] - High-speed Internet customers increased by 509,000, with continued growth in gross adds since the product launch [12] Market Data and Key Metrics Changes - T-Mobile's share of switchers in the top 100 markets increased both sequentially and year-over-year, indicating strong competitive positioning [11] - The company captured a win share of switchers in smaller markets and rural areas, achieving upper 30s percentages [11] - T-Mobile's network performance led to median download speeds more than double that of the closest competitor, reinforcing its market leadership [7] Company Strategy and Development Direction - T-Mobile's strategy focuses on building the best network and enhancing customer experience, which has resulted in industry-leading growth and customer retention [4][5] - The company aims to expand its market share in underpenetrated areas, with a goal of achieving 20% share by 2025 [11] - T-Mobile continues to innovate with offerings like Phone Freedom and Go5G Plus, which have resonated well with customers [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to maintain momentum, citing strong customer growth and financial performance [13] - The competitive landscape remains vibrant, with healthy competition driving better value and network improvements for customers [7] - Management raised guidance for total postpaid net customer additions to between 5.6 million and 5.9 million for the year [16] Other Important Information - T-Mobile completed the sale of its wireline assets to Cogent, which impacted Q2 results and is expected to have a full run rate impact starting in Q3 [19] - The company is on track to achieve approximately $7.5 billion in merger synergies for 2023, ahead of schedule [17] Q&A Session All Questions and Answers Question: Why did T-Mobile decide to reduce the buyback slightly? - Management clarified that the reduction is not a downtick but a programmatic view based on the remaining funds and time for the buyback program [23] Question: Any update on the spectrum option that DISH holds? - Management indicated that DISH has requested additional time to decide on exercising their option, and discussions are ongoing [28] Question: Would T-Mobile have an appetite for more mid-band spectrum? - Management confirmed that they are always on the lookout for opportunities to add capacity to their network, including mid-band spectrum [30] Question: How is T-Mobile thinking about the evolution of upgrades in the second half of the year? - Management noted that historically, the second half tends to have higher upgrade rates, especially with new product introductions [40] Question: What is the current status of fixed wireless broadband churn? - Management stated that churn has decreased for customers who have been with T-Mobile for a longer tenure, aligning with expectations [42] Question: How does T-Mobile view competition from cable providers? - Management highlighted improvements in porting ratios against cable and noted that T-Mobile continues to perform well despite increased competition [46]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-33409 T-MOBILE US, INC. (Exact name of registrant as specified in its charter) Delaware 20-0836269 (State or other jurisdiction of incorporat ...

T-Mobile US, Inc. (NASDAQ:TMUS) BofA Securities C-Suite TMT Conference Call June 20, 2023 11:30 AM ET Company Participants Peter Osvaldik - Executive Vice President and Chief Financial Officer Conference Call Participants David Barden - Bank of America Securities David Barden All right, everybody. Thank you very much. Batting cleanup for our C-Suite TMT Conference today is T-Mobile. We have with us Peter Osvaldik, the Chief Financial Officer of T-Mobile. Thank you all for joining us. I know we're competing ...

Summary of T-Mobile US, Inc. Conference Call Company Overview - **Company**: T-Mobile US, Inc. (NASDAQ: TMUS) - **Event**: 51st Annual J.P. Morgan Global Technology, Media and Communications Conference - **Date**: May 22, 2023 - **CEO**: Mike Sievert Key Points Industry Position and Market Share - T-Mobile started with a 12% market share and has grown to approximately 30% market share, positioning itself as a "responsible insurgent" in the telecom industry [3][4] - The company believes it is still underpenetrated in major segments, indicating significant growth potential [2] Financial Performance - The telecom industry is experiencing a healthy growth with service revenues increasing by 5% and cash flows doubling compared to 2014 [8] - T-Mobile reported a 46% year-over-year growth in cash flow for Q1 and is guiding for a 75% increase for the year [10] - The company aims to achieve $60 billion in buybacks through 2025, supported by strong cash flow growth [60] Customer Value and Pricing Strategy - Customers are receiving four times more data for a quarter of the cost per gigabyte compared to pre-merger prices, showcasing the value proposition T-Mobile offers [7] - T-Mobile's most popular plans are now higher-end, with customers self-selecting based on the value of the 5G network [13][37] - The introduction of the "Phone Freedom" initiative aims to attract customers from competitors by eliminating contract restrictions [21][26] Competitive Landscape - T-Mobile is focused on gaining market share in enterprise and government sectors, targeting a 20% market share by 2025 [9][46] - The company is outperforming competitors like Verizon in various metrics, including phone net ads and churn rates [10][47] - T-Mobile's strategy emphasizes quality over price competition, particularly in rural markets where it has increased its market share from low double digits to 16.5% [51] Future Outlook - The company is optimistic about the continued growth of fixed wireless services, which are helping to penetrate smaller markets [56] - T-Mobile is committed to maintaining a strong balance sheet with a leverage policy aimed at mid-twos [62] - The CEO expressed confidence that the stock price will reflect the company's strong fundamentals over time, despite current frustrations from investors [64][66] Additional Insights - T-Mobile's customer base is increasingly comprised of prime credit consumers, indicating a shift in the quality of its customer demographics [18][44] - The company is leveraging its 5G network to enhance customer engagement and increase data usage significantly [37][39] - T-Mobile's approach to bundling and customer service is designed to differentiate it from competitors, particularly in how it handles customer transitions from other carriers [28][30] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting T-Mobile's growth trajectory, competitive advantages, and future plans in the telecom industry.

T-Mobile US, Inc. Conference Call Summary Company Overview - **Company**: T-Mobile US, Inc. (NASDAQ: TMUS) - **Event**: SVB MoffettNathanson's Inaugural Technology, Media and Telecom Conference - **Date**: May 17, 2023 - **Participants**: - Peter Osvaldik - Chief Financial Officer - Craig Moffett - MoffettNathanson Key Industry Insights Mobile Market Growth - The mobile market has grown faster than the population growth rate over the last five years due to several factors: - Increased importance of core connectivity during the pandemic - Demographic expansion across age brackets - New business formations and stimulus money contributing to growth - Shift from prepaid to post-paid plans, particularly benefiting cable growth [3][5][9] Market Deceleration - T-Mobile anticipates a deceleration in subscriber growth, projecting an industry-wide addition of 7 to 8 million post-paid phones, down from 9.3 million the previous year [8][9] - The focus on post-paid phone growth is critical, but T-Mobile is also exploring other connectivity opportunities, especially with the advent of 5G [9][10] Competitive Landscape - The competitive environment is intensifying, particularly with aggressive promotions from Verizon and AT&T. T-Mobile aims to differentiate itself through value and network quality rather than engaging in price wars [11][12][64][65] Strategic Focus Areas Network Leadership - T-Mobile claims to have achieved the best network quality, particularly in 5G, which is expected to translate into overall market leadership [13][14] - The company is targeting underpenetrated segments, including smaller markets and rural areas, with a goal of reaching 20% market share by the end of 2025 [21][26] Business and Government Segments - T-Mobile is focusing on increasing its penetration in the enterprise and government sectors, aiming for a 20% market share by 2025. The company has seen success in these areas due to its network capabilities and customer service [26][30] Fixed Wireless and 5G Opportunities - T-Mobile's fixed wireless business has reached 3.2 million subscribers, generating ARPUs near post-paid phone levels. This segment is seen as a way to monetize excess network capacity [41][69] - The company is exploring private networks and IoT applications, although these opportunities are still developing [35][36][37] Financial Performance and Guidance Cash Flow and Share Buybacks - T-Mobile is generating significant cash flow, allowing for accelerated share buybacks, with a target of up to $60 billion through 2025 [72][74] - The company is open to strategic investments, particularly in spectrum, but has not identified any significant opportunities at this time [73][77] Customer Lifetime Value (CLV) - T-Mobile is shifting focus from ARPU to ARPA (Average Revenue Per Account) expansion, emphasizing the importance of customer lifetime value in its growth strategy [58][59] Conclusion - T-Mobile is well-positioned in the mobile market with a strong focus on network quality, customer value, and strategic growth in underpenetrated segments. The company is navigating a competitive landscape while maintaining a commitment to financial performance and shareholder returns.

Financial Data and Key Metrics Changes - Q1 2023 saw a 6% year-over-year increase in postpaid service revenue, the best in the industry [16] - Core adjusted EBITDA rose by 9% year-over-year, with a margin increase of 270 basis points [16] - Free cash flow increased over 45%, reflecting strong financial performance [14][16] Business Line Data and Key Metrics Changes - T-Mobile added 287,000 postpaid account net additions, leading the industry [9] - Postpaid net additions reached 1.3 million, surpassing AT&T and Verizon combined [9] - High-speed Internet customers increased by 523,000, with expectations of surpassing competitors in broadband customer additions for the fourth consecutive quarter [13] Market Data and Key Metrics Changes - T-Mobile's prime customer base hit an all-time high, particularly in top 100 markets [12] - The company captured a win share of switchers in the upper 30s in smaller markets and rural areas [12] - T-Mobile's market share in households increased to 16.5%, exceeding the target set for 2025 [44] Company Strategy and Development Direction - The company continues to focus on profitable growth and expanding its network leadership, particularly in underpenetrated markets [9][11] - The recent "Phone Freedom" initiative aims to attract customers from competitors by offering more flexible plans [5][62] - T-Mobile is committed to maintaining a differentiated strategy that emphasizes customer value and network quality [11][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in raising full-year guidance based on strong Q1 results and ongoing customer demand [4][16] - The competitive environment remains challenging, but T-Mobile's unique strategy allows it to navigate effectively [41] - Management highlighted the importance of customer satisfaction and retention, particularly in the broadband segment [33] Other Important Information - The company repurchased 33 million shares for $4.8 billion in Q1, with a total of 59.4 million shares repurchased for $8.5 billion as of April 21 [17] - T-Mobile expects merger-related costs to be approximately $1 billion before taxes for 2023 [19] - The sale of wireline assets to Cogent is expected to close in early May, impacting revenue and expenses [21] Q&A Session Summary Question: Revenue per user and Go5G plans - Management discussed the incremental nature of new plans and their impact on ARPA, emphasizing the mix-driven nature of the metric [23][24][28] Question: Home broadband churn and fiber trials - Management reported high Net Promoter Scores for broadband services and decreasing churn rates as customer tenure increases [31][34] Question: Competitive environment and buyback strategy - Management characterized the competitive landscape as rational and expressed confidence in their ability to grow despite challenges [40][41][50] Question: Business market share and Phone Freedom impact - Management highlighted significant growth in business accounts and the positive reception of the Phone Freedom initiative, which is expected to enhance EBITDA [56][62]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-33409 T-MOBILE US, INC. (Exact name of registrant as specified in its charter) Delaware 20-0836269 (State or other jurisdiction of incorpora ...