About T-Mobile US

T-Mobile US, Inc., together with its subsidiaries, operates as a provider of mobile communications services, including voice, messaging and data, under its flagship brands, T-Mobile, and Metro by T-Mobile (Metro by T-Mobile), in the United States, Puerto Rico and the U.S. Virgin Islands. The company provides mobile communications services primarily using its 4G Long Term Evolution (LTE) network and its 5G technology network. It also offers a wide selection of wireless devices, including handsets, tablets and other mobile communication devices, and accessories for sale, as well as financing through equipment installment plans (EIP). The company also provides reinsurance for device insurance policies and extended warranty contracts offered to its mobile communications customers. In addition to its wireless communications services, the company offers High Speed Internet utilizing its nationwide 5G network. Strategy Un-carrier Strategy The company, through its Un-carrier strategy, it has disrupted the wireless communications services industry by engaging with and listening to its customers and focusing on eliminating their existing pain points. This includes providing added value and an exceptional experience while implementing signature Un-carrier initiatives that have changed the wireless industry. The company’s ‘layer cake’ of spectrum provides an unmatched 5G experience to its customers, which consist of its foundational layer of low-band, its mid-band and its millimeter-wave (‘mmWave’) spectrum licenses. This multilayer portfolio of spectrum broadens and deepens its nationwide 5G network, enabling accelerated innovation and increased competition in the U.S. wireless and broadband industries. The company continues to expand the footprint and improve the quality of its network, enabling it to provide outstanding wireless experiences for customers. The company’s network allows it to deliver new, innovative products and services, such as its High Speed Internet fixed wireless product, with the same customer experience focus and industry-disrupting mindset that it has adopted in its attempt to redefine the wireless communications services industry in the United States in the customers’ favor. Operations The company provides wireless communications services to postpaid and prepaid customers and generates revenue by providing affordable wireless communications services to these customers, as well as a wide selection of wireless devices and accessories. The company also provides wholesale wireless services to various partners, who then offer the services for sale to their customers. The company’s most significant expenses relate to operating and expanding its network, providing a full range of devices, acquiring and retaining high-quality customers and compensating employees. The company provides services, devices and accessories across its flagship brands, T-Mobile and Metro by T-Mobile, through the company’s owned and operated retail stores, as well as through its websites (www.t-mobile.com and www.metrobyt-mobile.com), T-Mobile app and Metro by T-Mobile apps, customer care channels and through national retailers. In addition, the company sells devices to dealers and other third-party distributors for resale through independent third-party retail outlets and a variety of third-party websites. Services and Products The company provides mobile wireless communications services through a variety of service plan options. The company also offers for sale to customers a wide selection of wireless devices, including smartphones, wearables, tablets, home broadband routers and other mobile communication devices that are manufactured by various suppliers. The company’s service plan offering is Go5G Plus, which includes unlimited talk, text and data on its network, 5G access at no extra cost, scam protection features, access to the same device offers as new customers and more. It also offers an Essentials rate plan for customers who want the basics at a specific rate plans to qualifying customers, including Military and Veterans, First Responder and 55+, as well as Go5G and Go5G Next plans to deliver a full suite of plans that provide customers the features that meet their lifestyle and daily needs. In addition to the company’s mobile wireless communications services, it offers High Speed Internet, which is a fixed wireless product that utilizes the excess capacity of the company’s nationwide 5G network. The company’s fixed wireless product is available to millions of domestic households, providing an alternative to traditional landline internet service providers and expanding access to and choice for some consumers. The company also provides products and services that are complementary to its wireless communications services, including device protection, financial services, and advertising. In 2022, the company has an agreement for the sale of the Wireline Business. On May 1, 2023, the company completed the sale of the Wireline Business. Customers The company provides wireless communications services to a variety of customers needing connectivity, but focus primarily on two categories of customers: Postpaid customers generally are qualified to pay after receiving wireless communications services utilizing phones, High Speed Internet, tablets, wearables, DIGITS and other connected devices, including SyncUP and internet of things (IoT). The company serves consumers, as well as business customers, who are provided services under the T-Mobile for Business brand. Prepaid customers generally pay for wireless communications services in advance. The company serves prepaid customers include customers under the T-Mobile and Metro by T-Mobile brands. The company provides Machine-to-Machine (‘M2M’) and Mobile Virtual Network Operator (‘MVNO’) customers access to its network. This access and the customer relationship are managed by wholesale partners, with whom the company has commercial agreements permitting them to sell services utilizing its network. The company generates the majority of its service revenues by providing wireless communications services to postpaid and prepaid customers. In 2023, the company’s service revenues generated by providing wireless communications services by customer category were 77% postpaid customers; 15% prepaid customers; and 8% wholesale and other services. Substantially all of the company’s revenues for the year ended December 31, 20223, were earned in the United States, including Puerto Rico and the U.S. Virgin Islands. Network Strategy The company has deployed low-band, mid-band and mmWave spectrum dedicated for 5G across its dense and broad network to create America’s largest, fastest, and most awarded 5G network. The company’s integration strategy includes deploying the acquired spectrum on the combined network assets to supplement capacity, migrating Sprint customers to its network and optimizing the combined assets by decommissioning redundant sites. As of December 31, 2022, the company had decommissioned substantially all targeted Sprint macro sites. Spectrum Position The company provides wireless communications services utilizing low-band spectrum licenses covering its 600 MHz and 700 MHz spectrum, mid-band spectrum licenses, such as Advanced Wireless Services (‘AWS’), Personal Communications Services (‘PCS’) and 2.5 GHz spectrum, and mmWave spectrum. The company controlled an average of 392 MHz of combined low- and mid-band spectrum nationwide as of December 31, 2023. This spectrum consists of an average of 40 MHz in the 600 MHz band; an average of 10 MHz in the 700 MHz band; an average of 14 MHz in the 800 MHz band; an average of 40 MHz in the 1700 MHz AWS band; an average of 66 MHz in the 1900 MHz PCS band; an average of 182 MHz in the 2.5 GHz band; an average of 12 MHz in the 3.45 GHz band; and an average of 27 MHz in the C-band. The company controlled an average of 1,157 GHz of combined mmWave spectrum licenses. In January 2022, the FCC announced that the company was the winning bidder of 199 licenses in Auction 110 (mid-band spectrum). On May 4, 2022, the FCC issued to the company the licenses won in Auction 110. The company owns license purchase agreements pursuant to which it acquires spectrum in the 600 MHz band. The FCC announced that the company was the winning bidder of 7,156 licenses in Auction 108 (2.5 GHz spectrum). The timing of when the licenses would be issued would be determined by the FCC after all post-auction procedures have been completed. In September 2023, the company entered into a license purchase agreement pursuant to which it acquires spectrum in the 600 MHz band. The company plans to evaluate future spectrum purchases in future auctions and in the secondary market to further augment its spectrum position. As of December 31, 2023, the company had equipment deployed on approximately 80,000 macro cell sites and 48,000 small cell/distributed antenna system sites across its network. Regulation The FCC regulates many key aspects of the company’s business, including licensing, construction, the operation and use of its network, modifications of its network, control and ownership of its licenses and authorizations, the sale, transfer and acquisition of certain licenses, domestic roaming arrangements and interconnection agreements, pursuant to its authority under the Communications Act of 1934, as amended (Communications Act). Competition The company’s competitors include other carriers, such as AT&T Inc. (AT&T) and Verizon Communications, Inc. (Verizon), and DISH Network Corporation (DISH) as it continues to grow its network. In addition, the company’s competitors include numerous smaller and regional carriers, including Comcast Corporation; Charter Communications, Inc.; Cox Communications, Inc.; and Altice USA, Inc. many of which offer no-contract, postpaid and prepaid service plans. History T-Mobile US, Inc. was founded in 1994.