Pascal Desroches to Update Shareholders at Bank of America C-Suite TMT Conference on June 11

Core Insights - AT&T is making significant progress on its long-term growth strategy and is on track to meet its financial guidance [2][5] - The company is experiencing strong customer demand for its 5G and fiber connectivity services [2][4] - AT&T is one of the largest investors in telecommunications infrastructure in the U.S., with expected capital investments in 2024 ranging from $21 to $22 billion [2][6] Financial Performance - AT&T remains confident in achieving its financial guidance shared during the April 2024 earnings report [5] - The company aims for over $2 billion in run-rate cost savings by mid-2026 [5] - AT&T is on track to reach a net-debt to adjusted EBITDA ratio of approximately 2.5x in the first half of 2025 [5] Customer Demand and Market Position - The company is focused on building durable relationships with high-quality 5G and fiber customers [4] - AT&T's Mobility business is performing well, although a lower year-over-year postpaid upgrade rate is expected in the second quarter [4] - Fiber penetration rates are exceeding initial business case assumptions, with ongoing expansion of its connectivity portfolio [4][6] Investment Strategy - Over the past five years, AT&T has invested over $145 billion in its wireless and wireline networks [6] - The company is pursuing various models to expand fiber connectivity, aiming to pass over 30 million consumer and business locations by the end of 2025 [6][7] - AT&T is also advancing its wireless network through the transition to Open Radio Access Networks (Open RAN) [7] Innovations and Partnerships - AT&T is enhancing its network capabilities through partnerships, such as the collaboration with AST SpaceMobile for space-based broadband connectivity [7] - The company is committed to investing in traditionally underpenetrated segments, including public safety through the FirstNet platform [7]