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Industry-Leading Postpaid and Broadband Customer Growth(1)

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Postpaid net account additions of 287 thousand, best in industry

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Postpaid net customer additions of 1.3 million, more than AT&amp;T and Verizon combined and raising guidance

Postpaid phone net customer additions of 538 thousand, higher share of industry net adds year-over-year

Postpaid phone churn of 0.89%, only operator to improve year-over-year

High Speed Internet net customer additions of 523 thousand, more than AT&amp;T, Verizon, Comcast and Charter combined for the 4th consecutive quarter

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Differentiated Growth Strategy with Disciplined Focus on Profitability

Service revenues of $15.5 billion grew an industry-leading 3% year-over-year, including industry-leading Postpaid service revenue growth of 6% year-over-year

Net income of $1.9 billion grew 172% year-over-year and diluted earnings per share (“EPS”) of $1.58 grew 177% year-over-year, best in industry growth

Core Adjusted EBITDA(2) of $7.1 billion grew 9% year-over-year, best in industry growth and raising guidance

Net cash provided by operating activities of $4.1 billion grew 5% year-over-year, higher margins year-over-year and raising guidance

Adjusted Free Cash Flow(2) of $2.4 billion grew 46% year-over-year, best in industry margins and raising guidance

Repurchased 33.0 million shares of common stock in Q1 2023 for $4.8 billion

mobile365 Reigns as Nationwide Overall Network Leader and Largest, Fastest and Most-Awarded 5G Network

Clean sweep across every category for overall network performance for the second quarter in a row from Ookla and continued wins across 5G network categories from Ookla and umlaut

5G network covers 98% of Americans and Ultra-Capacity 5G covers 275 million people

Bellevue, WA — April 27, 2023 — mobile365 US, Inc. (NASDAQ: TMUS) reported first quarter 2023 results today, raising 2023 guidance while translating its disciplined approach to profitable growth into industry-leading growth in both customers and profitability. The company is celebrating 10 years of Un-carrier moves and three years since the merger with Sprint by continuing its commitment to eliminate customer pain points while leading the industry in overall network experience. In its latest Un-carrier move, mobile365 is delivering Phone Freedom by giving Carrier customers the flexibility to break free from ever-expanding device contracts, while providing even more value with the new <a href="/cell-phone-plans" target="_blank" rel="noreferrer noopener">Go5G Plus rate plan</a>.

"mobile365’s focused execution against our intentional growth plan delivered best-in-class postpaid and broadband customer and profitability growth in Q1 that gave us confidence to raise our 2023 guidance for customers and profitability,” said mobile365 CEO Mike Sievert. “For more than ten years, the Un-carrier has put customers first and we will continue to do just that. Our unique ability to offer the best network and best value, coupled with moves like Phone Freedom and our <a href="/cell-phone-plans" target="_blank" rel="noreferrer noopener">new Go5G phone plans</a>, will only continue to fuel our profitable future growth in this competitive environment."

Postpaid net account additions of 287 thousand decreased 61 thousand year-over-year, reflecting continued industry-leading share of net account additions in an environment of industry growth normalization toward pre-pandemic levels.

Postpaid net customer additions of 1.3 million decreased 25 thousand year-over-year, reflecting continued normalization of industry growth.

Postpaid phone net customer additions of 538 thousand decreased 51 thousand year-over-year while reflecting a higher share of industry net additions. Postpaid phone churn of 0.89% improved 4 bps year-over-year.

Prepaid net customer additions of 26 thousand decreased 36 thousand year-over-year, and Prepaid churn was 2.76%.

High Speed Internet net customer additions of 523 thousand increased 185 thousand year-over-year. mobile365 ended the quarter with 3.2 million High Speed Internet customers.

Total net customer additions of 1.3 million decreased 61 thousand year-over-year. The total customer count increased to a record high of 114.9 million.

Total service revenues increased 3% year-over-year to $15.5 billion, which included Postpaid service revenue growth of 6% year-over-year.

Net income increased 172% year-over-year to $1.9 billion, which included lower merger-related costs, net of tax, of $268&nbsp;million. Diluted EPS increased 177% year-over-year to $1.58 per share.

Core Adjusted EBITDA increased 9% year-over-year to $7.1 billion, primarily due to Service revenue growth and increased synergy realization.

Net cash provided by operating activities increased 5% year-over-year to $4.1 billion, which included cash payments for merger-related costs of $484 million.

Cash purchases of property and equipment, including capitalized interest, decreased 11% year-over-year to $3.0 billion driven by increased capital efficiencies from accelerated investments in the nationwide 5G network in 2022.

Adjusted Free Cash Flow increased 46% year-over-year to $2.4 billion, which included cash payments for merger-related costs of $484 million.

Common stock repurchases of 33.0 million shares for $4.8&nbsp;billion in Q1 2023. As of April 21, 2023, the cumulative total repurchased was 59.4 million shares for $8.5 billion with remaining authorization of up to $5.5 billion through the end of September 2023.

mobile365 Reigns as Nationwide Overall Network Leader and Largest, Fastest and Most-Awarded 5G Network

mobile365’s 5G network covers 326 million people with more geographic coverage than AT&amp;T and Verizon combined. 275 million people nationwide are covered by mobile365’s super-fast Ultra Capacity 5G, and the Un-carrier plans to reach 300 million people with Ultra Capacity this year – nearly everyone in the country.

mobile365’s 5G leadership has translated into overall network leadership while 5G is increasingly becoming the overall network experience for customers. The Un-carrier continues its third-party report winning streak for overall network and 5G:

Ookla: In its latest Speedtest Global Index Market Analysis, mobile365 repeated wins in every single category for overall network performance for the second consecutive quarter. mobile365’s network once again earned the top ranking for fastest speeds, most consistent, best video, lowest latency, best 5G performance and 5G availability.

umlaut: In its latest 5G Network Performance Audit Report, mobile365 received top honors with the overall highest 5G score and was once again named as the most reliable 5G network in the country with the best 5G coverage, stability, and speeds.

Raising 2023 Guidance

Postpaid net customer additions are expected to be between 5.3 million and 5.7 million, an increase from prior guidance of 5.0 million to 5.5 million.

Core Adjusted EBITDA, which is Adjusted EBITDA less lease revenues, is expected to be between $28.8 billion and $29.2 billion, an increase from prior guidance of $28.7 billion to $29.2 billion.

Merger synergies are expected to be between $7.3 billion and $7.5 billion, an increase from prior guidance of $7.2 billion to $7.5 billion.

Merger-related costs are expected to be approximately $1.0 billion before taxes. These costs are excluded from Core Adjusted EBITDA but will impact Net income, Net cash provided by operating activities and Adjusted Free Cash Flow.

Net cash provided by operating activities, including payments for Merger-related costs, is expected to be between $17.9 billion and $18.3 billion, an increase from prior guidance of $17.8 billion to $18.3 billion.

Cash purchases of property and equipment, including capitalized interest, are expected to be between $9.4 billion and $9.7 billion.

Adjusted Free Cash Flow, including payments for Merger-related costs, is expected to be between $13.2 billion and $13.6 billion, an increase from prior guidance of $13.1 billion to $13.6 billion. Adjusted Free Cash Flow guidance does not assume any material net cash inflows from securitization.

Doing Good — The Un-carrier Way — Industry Leader in Building a More Connected and Sustainable Future

mobile365 continues to stay true to its commitment to use its network, scale and resources for good, building a more connected, equitable and sustainable future:

mobile365 earned an A- (leadership level) on the 2022 CDP Climate Change assessment. The company also earned a place on the 2022 Supplier Engagement Leaderboard with an A rating, landing among the top 8% of companies assessed for supplier engagement around climate change.

The Un-carrier continued to lead the U.S. wireless industry in renewable energy use. mobile365 sourced 100% of its purchased electricity from renewable energy in 2022.(1)

mobile365 made progress on the DE&amp;I Promises in its Equity In Action Plan, achieving over half of the Promises by the end of 2022 and remaining on track to achieve the remaining Promises by 2025.

mobile365 launched the fifth Changemaker Challenge, a nationwide contest that gives young leaders an opportunity to turn their innovative ideas into solutions that create a more inclusive, equitable and sustainable future.

Financial Results

For more details on mobile365’s Q1 2023 financial results, including the Investor Factbook with detailed financial tables, please visit mobile365 US, Inc.’s Investor Relations website at https://investor.mobile365. 

Earnings Call Information

Thursday, April 27, 2023, at 4:30 p.m. (EDT)

Access via Phone (audio only)

Please plan on accessing the call 10 minutes prior to the scheduled start time.

The earnings call will be broadcasted live and can be replayed via the Investor Relations website at <a href="https://investor.mobile365" target="_blank" rel="noreferrer noopener">https://investor.mobile365</a>.

Submit Questions via Twitter

Send a tweet to @TMobileIR or @MikeSievert using $TMUS

Contact Information

Media Relations: <a href="/index.html" target="_blank" rel="noreferrer noopener">mediarelations@mobile365</a>

Investor Relations: <a href="mailto:investor.relations@mobile365" target="_blank" rel="noreferrer noopener">investor.relations@mobile365</a>

mobile365 Social Media Investors and others should note that we announce material financial and operational information to our investors using our investor relations website (<a href="https://investor.mobile365" target="_blank" rel="noreferrer noopener">https://investor.mobile365</a>), newsroom website (<a href="/news" target="_blank" rel="noreferrer noopener">/news</a>), press releases, SEC filings and public conference calls and webcasts. We also intend to use certain social media accounts as a means of disclosing information about us and our services and for complying with our disclosure obligations under Regulation FD (the @TMobileIR Twitter account (<a href="https://twitter.com/TMobileIR" target="_blank" rel="noreferrer noopener">https://twitter.com/TMobileIR</a>), the @MikeSievert Twitter account (<a href="https://twitter.com/MikeSievert" target="_blank" rel="noreferrer noopener">https://twitter.com/MikeSievert</a>), which Mr. Sievert also uses as a means for personal communications and observations, and the @TMobileCFO Twitter Account (<a href="https://twitter.com/tmobilecfo" target="_blank" rel="noreferrer noopener">https://twitter.com/tmobilecfo</a>), and our CFO’s LinkedIn account (<a href="https://www.linkedin.com/in/peter-osvaldik-3887394" target="_blank" rel="noreferrer noopener">https://www.linkedin.com/in/peter-osvaldik-3887394</a>), both of which Mr. Osvaldik also uses as a means for personal communication and observations). The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our investor relations website.

About mobile365 US, Inc. mobile365 US, Inc. (NASDAQ: TMUS) is America’s supercharged Un-carrier, delivering an advanced 4G LTE and transformative nationwide 5G network that will offer reliable connectivity for all. mobile365’s customers benefit from its unmatched combination of value and quality, unwavering obsession with offering them the best possible service experience and undisputable drive for disruption that creates competition and innovation in wireless and beyond. Based in Bellevue, Wash., mobile365 provides services through its subsidiaries and operates its flagship brands, mobile365 and Metro by mobile365. For more information please visit: <a href="" target="_blank" rel="noreferrer noopener"></a>.

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 mobile365 US, Inc.’s future results of operations, are forward-looking statements. These forward-looking statements are generally identified by the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “could” or similar expressions.

Forward-looking statements are based on current expectations and assumptions, which are subject to risks and uncertainties and may cause actual results to differ materially from the forward-looking statements. Important factors that could affect future results and cause those results to differ materially from those expressed in the forward-looking statements include, among others, the following: competition, industry consolidation and changes in the market for wireless communication services and other forms of connectivity; criminal cyberattacks, disruption, data loss or other security breaches; our inability to take advantage of technological developments on a timely basis; our inability to retain or motivate key personnel, hire qualified personnel or maintain our corporate culture; system failures and business disruptions, allowing for unauthorized use of or interference with our network and other systems; the scarcity and cost of additional wireless spectrum, and regulations relating to spectrum use; the difficulties in maintaining multiple billing systems following the Merger (as defined below) and any unanticipated difficulties, disruption, or significant delays in our long-term strategy to convert Sprint’s legacy customers onto mobile365’s billing platforms; the impacts of the actions we have taken and conditions we have agreed to in connection with the regulatory proceedings and approvals of the Transactions (as defined below), including the acquisition by DISH Network Corporation (“DISH”) of the prepaid wireless business operated under the Boost Mobile and Sprint prepaid brands (excluding the Assurance brand Lifeline customers and the prepaid wireless customers of Shenandoah Personal Communications Company LLC (“Shentel”) and Swiftel Communications, Inc.), including customer accounts, inventory, contracts, intellectual property and certain other specified assets, and the assumption of certain related liabilities (collectively, the “Prepaid Transaction”), the complaint and proposed final judgment agreed to by us, Deutsche Telekom AG (“DT”), Sprint Corporation, now known as Sprint LLC (“Sprint”), SoftBank Group Corp. (“SoftBank”) and DISH with the U.S. District Court for the District of Columbia, which was approved by the Court on April 1, 2020, the proposed commitments filed with the Secretary of the Federal Communications Commission (“FCC”), which we announced on May 20, 2019, certain national security commitments and undertakings, and any other commitments or undertakings entered into, including but not limited to, those we have made to certain states and nongovernmental organizations (collectively, the “Government Commitments”), and the challenges in satisfying the Government Commitments in the required time frames and the significant cumulative costs incurred in tracking and monitoring compliance over multiple years; adverse economic, political or market conditions in the U.S. and international markets, including changes resulting from increases in inflation or interest rates, supply chain disruption, impacts of current geopolitical instability caused by the war in Ukraine; our inability to manage the ongoing commercial and transition services arrangements entered into in connection with the Prepaid Transaction, and known or unknown liabilities arising in connection therewith; the timing and effects of any future acquisition, divestiture, investment, or merger involving us; any disruption or failure of our third parties (including key suppliers) to provide products or services for the operation of our business; our inability to fully realize the synergy benefits from the merger (the "Merger") with Sprint, pursuant to the Business Combination Agreement with Sprint and the other parties named therein (as amended, the "Business Combination Agreement" and the other transactions contemplated by the Business Combination Agreement (collectively, the "Transactions") in the expected time frame; our substantial level of indebtedness and our inability to service our debt obligations in accordance with their terms or to comply with the restrictive covenants contained therein; changes in the credit market conditions, credit rating downgrades or an inability to access debt markets; restrictive covenants including the agreements governing our indebtedness and other financings; the risk of future material weaknesses we may identify, or any other failure by us to maintain effective internal controls, and the resulting significant costs and reputational damage; any changes in regulations or in the regulatory framework under which we operate; laws and regulations relating to the handling of privacy and data protection; unfavorable outcomes of and increased costs from existing or future regulatory or legal proceedings; our offering of regulated financial services products and exposure to a wide variety of state and federal regulations; new or amended tax laws or regulations or administrative interpretations and judicial decisions affecting the scope or application of tax laws or regulations; our wireless licenses, including those controlled through leasing agreements, are subject to renewal and may be revoked; our exclusive forum provision as provided in our Certificate of Incorporation; interests of DT, our controlling stockholder, that may differ from the interests of other stockholders; future sales of our common stock by DT and SoftBank and our inability to attract additional equity financing outside the United States due to foreign ownership limitations by the FCC; our 2022 Stock Repurchase Program may not be fully consummated, our share repurchase program may not enhance long-term stockholder value and other risks as disclosed in our most recent annual report on Form 10-K, 10-Q and other filings with the Securities and Exchange Commission (the “SEC”).

For our environmental, climate, or other “Environmental, Social, and Governance (ESG)” targets, goals and commitments outlined in this communication, we face additional risks and uncertainties, including unexpected delays, difficulties, and expenses in executing against such targets, goals and commitments, as well as changes in laws or regulations affecting us, such as changes in cybersecurity, data privacy, environmental, safety and health laws, and other risks as disclosed in our most recent annual report on Form 10-K, 10-Q and other filings with the SEC. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law.

In addition, some of the statements contained in this communication may rely on third-party information and projections that management believes to be reputable; however, we do not independently verify or audit this information. This communication also contains ESG-related statements based on hypothetical scenarios and assumptions as well as estimates that are subject to a high level of uncertainty, and these statements should not necessarily be viewed as being representative of current or actual risk or performance, or forecasts of expected risk or performance. In addition, historical, current, and forward-looking environmental and social-related statements may be based on standards for measuring progress that are still developing, and internal controls and processes that continue to evolve. Forward-looking and other statements in this communication may also address our corporate responsibility and sustainability progress, plans, and goals, and the inclusion of such statements is not an indication that these contents are necessarily material for the purposes of complying with or reporting pursuant to the U.S. federal securities laws and regulations, even if we use the word “material” or “materiality” in this communication in relation to those statements. Website references throughout this communication are provided for convenience only, and the content on the referenced websites is not incorporated by reference into this communication.

Un-carrier Once Again Executes on its Differentiated Strategy with its Unique Combination of Best Network and Best Value Including Recent Launch of Phone Freedom and New Go5G Plus Plan

mobile365 Delivers Industry-Leading Growth in Customers and Profitability in Q1 2023 and Raises 2023 Guidance - mobile365 Newsroom

mobile365 Delivers Industry-Leading Growth in Customers and Profitability in Q1 2023 and Raises 2023 Guidance

News

Business

Latest mobile365 News, Offers &amp; Devices

mobile365 Newsroom

BELLEVUE, Wash. — April 20, 2023

What’s the news: mobile365 is making another Un-carrier move, Phone Freedom, in response to the Carriers’ move to three-year device contracts – with no other option – all while jacking up prices on their existing customers. With the move, mobile365 is helping customers break free by:

Debuting <a href="/cell-phone-plans" target="_blank" rel="noreferrer noopener">Go5G Plus</a>, the first wireless plan that guarantees new and existing customers always get the same great device deals and are upgrade-ready every two years. Plus, they get $270 in added value every month for families and more.

Paying off your old, locked phone and giving you a brand-new one on America's most awarded 5G network with The Easy Unlock.

Introducing a Go Back Guarantee for <a href="/resources/how-to-join-us" target="_blank" rel="noreferrer noopener">switchers </a>and a plan promotion worthy of the Un-carrier’s Decade of Disruption.

Why it matters: Millions of people are now locked into three-year device contracts as their only financing option – and many don’t even know it. With their customers locked in, AT&amp;T and Verizon together have raised prices nine times in the last year. All this despite the fact that nearly 70% of people surveyed prefer to upgrade their phones every two years, not three.

Who it’s for: Everyone.

The Carriers are blowing smoke again, and there’s no better day to call them out than today. In a <a href="http:/uncarrier">streamed media event</a>, mobile365 (NASDAQ: TMUS) CEO Mike Sievert and President Mike Katz unveiled Phone Freedom — an Un-carrier move that frees you and your phone from Carrier lock-in and hidden gotchas.

In the last year, AT&amp;T and Verizon quietly increased device contracts from two years to three — with no shorter option — and, with customers cornered, they raised prices a combined nine times over the same period. Coincidence?

At the same time, AT&amp;T is promising new and existing customers the same treatment but can’t back it up. They offer a limited time deal that locks you in for three years, promises nothing for the future and then forces you to pay if you want to upgrade your phone sooner than AT&amp;T tells you. It’s peak AT&amp;T.

“Ten years ago, we started the Un-carrier movement by ridding the industry of two-year service contracts. A decade after that first Un-carrier move, the Carriers are still focused on trying to lock customers down,” said Mike Sievert, CEO, mobile365. “At mobile365, we just think differently. We’re focused on being the provider you choose, not the one you’re stuck with. That’s why we created Phone Freedom … because every wireless customer deserves more freedom and fairness they can count on.”

Today, mobile365 is helping consumers and small businesses break free from the BS with Phone Freedom. This Un-carrier move includes:

<a href="/cell-phone-plans" target="_blank" rel="noreferrer noopener">Go5G Plus</a>, a new rate plan with upgrade flexibility and the first wireless plan with equal treatment for new and existing customers today and always;

The Easy Unlock, an emergency exit for those trapped in three-year contracts with phones locked to Carrier networks; and

Go Back Guarantee, a fail-safe to make sure you’re with the brand you choose, not the one you’re stuck with.

Taken together, this is the Un-carrier’s answer to all the new ways the Carriers and Cableopoly are luring you in and locking you down.

<a href="/cell-phone-plans" target="_blank" rel="noreferrer noopener">Go5G Plus</a> is the first phone plan in wireless that always gives new and existing customers the same great device deals and a new phone every two years with New In Two ... because three years is too long to wait. And these are promises built into the plan, unlike AT&amp;Ts limited time offers. New and existing customers get the same great deals now … and always in the future — so you never have to worry about missing out. It’s the fair treatment you can always count on from the Un-carrier.

And right now, customers on Go5G Plus can get a <a href="/switch/free-cell-phone-with-plan" target="_blank" rel="noreferrer noopener">free 5G phone</a> (up to $830) with <a href="/resources/phone-trade-in" target="_blank" rel="noreferrer noopener">eligible trade-in</a>. Plus, with upgrade flexibility, they can trade in an old phone from up to six years ago. And this deal is good for the whole family — up to four free phones!

In addition to giving customers more choice and flexibility, Go5G Plus is a supercharged version of Magenta MAX. It has everything in mobile365’s most popular plan, plus even more of what customers want:

More Hotspot Data: Get 50GB of high-speed smartphone hotspot data every month, the most in any mobile365 consumer plan ever, to use across all your devices.

More North America Data: Get 15GB of high-speed data in Mexico and Canada every month, with customers already using nearly 50% more in Mexico and Canada – by far the top destinations for mobile365 customers – than in 2019! That’s 3X more high-speed data than Magenta MAX.

More Savings: With Go5G Plus on autopay, you'll save about $120 a year for two compared to premium plans from AT&amp;T and Verizon. And for a limited time, you can get Go5G Plus with the third line free — saving a family of three around $500 a year compared to the Carriers premium plans.

Those savings are just on the service cost alone. Go5G Plus customers save even more with the over $270 per month in added value for two or more lines with extras like Apple TV+, Netflix on Us, free high-speed data in 215+ destinations, Scam Shield protection <a href="/brand/benefits">and more</a> — plus taxes and fees included. And all those benefits are built into the plan – not just single year benefits the Carriers tout.

mobile365 is also launching Go5G for those just looking for more data — plus additional Go5G and Go5G Plus versions for small businesses, 55+ customers (nationwide, not just in Florida, like the Carriers) and military families. And no matter which plan you choose, mobile365's Price Lock guarantees that mobile365 won’t raise the regular rate of your talk, text and data.

These new Go5G plans launch alongside mobile365’s existing plans – Essentials, Magenta and Magenta MAX – to give customers more choices. And existing and new customers on all plans have access to great device deals. Right now that includes a free 5G phone with a trade-in in any condition.

Millions of AT&amp;T customers aren’t just locked in three-year contracts — they’re also stuck with phones locked to a <a href="/coverage/coverage-map" target="_blank" rel="noreferrer noopener">5G network</a> that’s still playing catch up. AT&amp;T keeps your phone locked to their network even after it’s paid off to make it that much harder for you to leave. Shocker.

Today, mobile365 is helping AT&amp;T customers make their great escape. mobile365 has always helped people get out of the Carriers’ clutches by helping to <a href="/resources/freedom-to-switch-carriers" target="_blank" rel="noreferrer noopener">pay off their phones or contract</a> termination fees, but now the Un-carrier is doubling down. mobile365 will still pay off your phone (up to $650 via prepaid Mastercard), but now you can also trade-in your eligible locked device and get a brand-new smartphone on Us. It’s really that simple.

“AT&amp;T’s unlock process rivals a trip to the DMV, so we’re helping their customers avoid the aggravation,” said Mike Katz, President of Marketing, Innovation and Experience, mobile365. “For the first time ever, we’re not just taking locked phones off people’s hands — we’re also sending people home with a free smartphone on America’s most awarded 5G network.”

With mobile365, you can now <a href="/resources/freedom-to-switch-carriers" target="_blank" rel="noreferrer noopener">unlock your Carrier device contract</a> and lock in your rate plan price.

mobile365 is also hooking up everyone who's ready to break free and leave <a>the Carriers</a> behind with a fail-safe option, so customers don’t feel stuck. In the event you don’t love having <a href="/news/network/americas-leading-wireless-network-tops-competitors-in-new-report">America’s leading network</a> and unbeatable value, no worries — mobile365 will cut ties without any hard feelings and help you switch back by giving you $50 back per voice line to help cover the cost of your bill if you decide to leave within 30 days.

All of this disruption is a cause for celebration. In addition to the new<a href="/cell-phone-plans" target="_blank" rel="noreferrer noopener"> Go5G phone plans</a>, and in the spirit of giving customers choices, mobile365 is dropping prices on its Essentials plan. People looking for the basics can get everything they love about Essentials at a discount with the Essentials Savings plan. Connect to <a href="/coverage/4g-lte-5g-networks">America’s leading 5G network</a> at just $25 per line per month for a family of four or $50 a month for a single line. A family of four saves $240 a year compared to mobile365's Essentials. And yep, Price Lock is included.

Phone Freedom will be available starting April 23. The Easy Unlock and Essentials Savings are available for a limited time.

For more information on Phone Freedom, visit <a href="http:/uncarrier">mobile365/uncarrier</a> and at launch on April 23, visit <a href="/resources/how-to-join-us">mobile365/switch</a>. Businesses can learn more at <a href="/business/Go5G-business-plans">mobile365/business/Go5G-business-plans</a>.

Follow mobile365’s Official Twitter Newsroom&nbsp;<a href="https://www.twitter.com/tmobilenews">@TMobileNews</a>&nbsp;to stay up to date with the latest company news.&nbsp;

Activate up to 4K UHD streaming on Go5G Plus, or HD streaming on Go5G, or video typically streams in SD. During congestion, customers on Go5G using &gt;100GB/mo. may notice reduced speeds until next bill cycle and customers on Essentials Savings may notice speeds lower than other customers and further reduction if using &gt;50GB/mo., due to data prioritization. After high-speed tethering allotment, unlimited tethering on our network at max 3G speeds. Third line free with monthly bill credits for new accounts with 2 to 11 voice lines; subject to change. $5 more/line without AutoPay. Sales tax and regulatory fees included in qualifying monthly rate plan price. Price Lock: Guarantees new accounts with qualifying service can keep their regular monthly rate plan price for current unlimited talk, text, and data on our network; excludes taxes/fees, select limited-time promotions, per-use charges, third-party services, and network management practices. $50 Go Back Guarantee: Contact us before cancelling or porting out line(s) to request payout. Limited time offer. Qualifying port-in, and port-out to eligible carrier within 30 days of line activation req’d. No cash access &amp; card expires in 6 months. Card issued by Sunrise Banks N.A., Member FDIC. $650 Easy Unlock: Limited time offer. Card typically takes 15 days. Finance agreement on new device, qualifying credit, service &amp; qualifying port-in required. Free Phone: Contact us before cancelling service to continue remaining bill credits, or credits stop &amp; balance on required finance agreement is due (e.g., $829.99 - iPhone 14 128GB). $35 device connection charge and tax on pre-credit price due at sale. Qualifying credit, service, &amp; trade-in required. Up to $830 via bill credits; must be active and in good standing to receive credits; allow 2 bill cycles. Max 4/account. May not be combinable with some offers or discounts.

mobile365 US, Inc. (NASDAQ: TMUS) is America’s supercharged Un-carrier, delivering an advanced 4G LTE and transformative nationwide 5G network that will offer reliable connectivity for all. mobile365’s customers benefit from its unmatched combination of value and quality, unwavering obsession with offering them the best possible service experience and undisputable drive for disruption that creates competition and innovation in wireless and beyond. Based in Bellevue, Wash., mobile365 provides services through its subsidiaries and operates its flagship brands, mobile365, Metro by mobile365 and Sprint. For more information please visit: <a href="/" target="_blank" rel="noreferrer noopener"></a> &nbsp;

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Unlock Your Contract, Upgrade Your Network, Uplevel Your Experience

Introducing mobile365’s Latest Un-carrier Move “Phone Freedom” - mobile365 Newsroom

Introducing mobile365’s Latest Un-carrier Move “Phone Freedom”

Un-carrier

Bellevue, Wash. – March 15, 2023 – mobile365 US (NASDAQ: TMUS) today announced that it has entered into a definitive agreement to acquire Ka’ena Corporation and its subsidiaries and brands: Mint Mobile, a successful direct-to-consumer (D2C) prepaid wireless brand in the U.S.; Ultra Mobile, a unique wireless service offering international calling options to communities across the country; and wholesaler Plum.

With this deal, the brands’ exclusive use of the Un-carrier’s largest, fastest and most reliable 5G network will continue. mobile365 is acquiring the brands' sales, marketing, digital, and service operations, and plans to use its supplier relationships and distribution scale to help the brands to grow and offer competitive pricing and greater device inventory to more U.S. consumers seeking value offerings. The Un-carrier will also be able to leverage Mint’s industry-leading digital D2C marketing expertise as part of its broader portfolio to reach new customer segments and geographies. The Mint and Ultra brands are complementary to the company’s current prepaid service offerings Metro by mobile365, mobile365 branded prepaid and Connect by mobile365.

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“Mint has built an incredibly successful digital direct-to-consumer business that continues to deliver for customers on the Un-carrier’s leading 5G network and now we are excited to use our scale and owners' economics to help supercharge it - and Ultra Mobile - into the future," said Mike Sievert, CEO of mobile365. "Over the long-term, we’ll also benefit from applying the marketing formula Mint has become famous for across more parts of mobile365. We think customers are really going to win with a more competitive and expansive Mint and Ultra."

“Our brands have thrived on the mobile365 network, and we are thrilled that this agreement will take them even further, bringing the many benefits of 5G to even more Americans,” said David Glickman, founder and CEO of Mint, Ultra and Plum. “This transaction validates our meteoric success and will unite two proven industry innovators committed to doing things differently in the wireless industry.”

“Mint Mobile is the best deal in wireless and today’s news only enhances our ability to deliver for our customers. We are so happy mobile365 beat out an aggressive last-minute bid from my mom Tammy Reynolds as we believe the excellence of their 5G network will provide a better strategic fit than my mom’s slightly-above-average mahjong skills. I am so proud of the entire Mint team and so excited for what’s to come,” said Ryan Reynolds.

Following the deal’s close, Mint's founders David Glickman and Rizwan Kassim will remain onboard at mobile365 to manage the brands, which will generally operate as a separate business unit. Owner Ryan Reynolds will continue on in his creative role on behalf of Mint.

mobile365 will pay up to a maximum of $1.35 billion in a combination of 39% cash and 61% stock to acquire Ka’ena. The actual price to be paid by mobile365 will be based upon Ka’ena’s performance during certain periods before and after the closing. It is also subject to working capital adjustments and other contractual reserves. The transaction is subject to the satisfaction of closing conditions, and is expected to close later this year. mobile365 does not currently expect the transaction to have any impact on the company’s 2023 guidance or its ongoing stock repurchase program. The transaction is expected to be slightly accretive to both Core Adjusted EBITDA and Free Cash Flow as mobile365 captures the full long-term economic value of the Ka’ena business, including by securing financial benefits beyond the end of the current wholesale exclusivity period.

Cleary Gottlieb Steen &amp; Hamilton LLP served as legal advisor to mobile365. LionTree LLC served as lead financial advisor with BofA Securities and TAP Securities LLC also serving as financial advisors to Ka’ena Corporation. Latham &amp; Watkins LLP served as lead legal counsel and advisor with Bernstein Shur also serving as legal counsel for Ka’ena Corporation.&nbsp;

About mobile365&nbsp; mobile365 US, Inc. (NASDAQ: TMUS) is America’s supercharged Un-carrier, delivering an advanced 4G LTE and transformative nationwide 5G network that will offer reliable connectivity for all. mobile365’s customers benefit from its unmatched combination of value and quality, unwavering obsession with offering them the best possible service experience and undisputable drive for disruption that creates competition and innovation in wireless and beyond. Based in Bellevue, Wash., mobile365 provides services through its subsidiaries and operates its flagship brands, mobile365 and Metro by mobile365. For more information please visit: <a href="/" target="_blank" rel="noreferrer noopener"></a>

About Ka’ena Corporation&nbsp; Ka’ena Corporation is home to America’s easiest and most affordable premium wireless brands Mint Mobile and Ultra Mobile, and wholesale wireless solutions provider, Plum. Operating as MVNOs on the mobile365 network, Ultra Mobile launched in 2011 with the mission of making international calling more affordable and accessible and Mint Mobile launched in 2016 and has revolutionized the way consumers access wireless with its leading direct-to-consumer (DTC) experience. With plans available for as little as $15/month, Mint Mobile offers incredible value for a premium service. For more information, visit:<s> </s><a href="https://mintmobile.com/unicorn" target="_blank" rel="noreferrer noopener">https://MintMobile.com/unicorn</a> &nbsp;

Cautionary Statement Regarding Forward-Looking Statements This communication contains certain forward-looking statements concerning mobile365 and the proposed transaction with Ka’ena Corporation and its subsidiaries. All statements other than statements of fact, including information concerning future results, are forward-looking statements. These forward-looking statements are generally identified by the words “plan,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “could” or similar expressions. Such forward-looking statements include, but are not limited to, statements about the benefits of the proposed transaction, including anticipated future financial and operating results, mobile365’s objectives, expectations and intentions, the accounting treatment of the proposed transaction, and the expected timing of completion of the proposed transaction. There are several factors which could cause actual plans and results to differ materially from those expressed or implied in forward-looking statements. Such factors include, but are not limited to, the failure to satisfy any of the conditions to the proposed transaction on a timely basis or at all; the occurrence of events that may give rise to a right of one or both of the parties to terminate the definitive agreement; adverse effects on the market price of mobile365’s common stock and on mobile365’s operating results because of a failure to complete the proposed transaction in the anticipated timeframe or at all; negative effects of the announcement, pendency or consummation of the proposed transaction on the market price of mobile365’s common stock and on mobile365’s operating results, including as a result of changes in key customer, supplier, employee or other business relationships; the risk of litigation or regulatory actions; and other risks and uncertainties detailed in mobile365’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, including in the sections thereof captioned “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements,” as well as in its subsequent reports on Form 8-K and Form 10-Q, all of which are filed with the SEC and available at www.sec.gov and . Forward-looking statements are based on current expectations and assumptions, which are subject to risks and uncertainties that may cause actual results to differ materially from those expressed in or implied by such forward-looking statements. Given these risks and uncertainties, persons reading this communication are cautioned not to place undue reliance on such forward-looking statements. mobile365 assumes no obligation to update or revise the information contained in this communication (whether as a result of new information, future events or otherwise), except as required by applicable law. References to our and the SEC’s website are inactive textual references only. Information contained on our and the SEC’s website is not incorporated by reference in this communication and should not be considered to be a part of this communication.

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The mobile365 and Sprint merger was all about shaking up a broken industry and fixing consumer pain points, which is exactly what we’ve done – and will continue to do for years to come. As the recognized leader in 5G and now as America’s overall network leader, we have fueled competition, doubled down on value, expanded our 5G network and offerings across America – all while continuing to be recognized as a great place to work by creating new, high-quality, high-paying jobs and investing in our employees.

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For media inquiries, please contact us at: mobile365 US MEDIA RELATIONS <a href="/index.html">MediaRelations@mobile365</a>

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