Q3FY 2018

RESULTSJanuary 31st, 2019Conference Call

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CautionaryStatement

SAFE HARBOR

This release includes “forward-looking statements” within the meaning of the securities laws. The words“may,” “could,” “should,” “estimate,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,”“target,” “plan”, “outlook,” “providing guidance,” and similar expressions are intended to identifyinformation that is not historical in nature. All statements that address operating performance, events ordevelopments that we expect or anticipate will occur in the future — including statements relating to ournetwork, cost reductions, connections growth, and liquidity; and statements expressing general viewsabout future operating results — are forward-looking statements. Forward-looking statements areestimates and projections reflecting management’s judgment based on currently available informationand involve a number of risks and uncertainties that could cause actual results to differ materially fromthose suggested by the forward-looking statements. With respect to these forward-looking statements,management has made assumptions regarding, among other things, the development and deploymentof new technologies and services; efficiencies and cost savings of new technologies and services;customer and network usage; connection growth and retention; service, speed, coverage and quality;availability of devices; availability of various financings, including any leasing transactions; the timing ofvarious events and the economic environment. Sprint believes these forward-looking statements arereasonable; however, you should not place undue reliance on forward-looking statements, which arebased on current expectations and speak only as of the date when made. Sprint undertakes noobligation to publicly update or revise any forward-looking statements, whether as a result of newinformation, future events or otherwise, except as required by law. In addition, forward-lookingstatements are subject to certain risks and uncertainties that could cause actual results to differmaterially from our company's historical experience and our present expectations or projections. Factorsthat might cause such differences include, but are not limited to, those discussed in Sprint Corporation’sAnnual Report on Form 10-K for the fiscal year ended March 31, 2018 and our Quarterly Report on Form10-Q for the quarter ended September 30, 2018. You should understand that it is not possible to predictor identify all such factors. Consequently, you should not consider any such list to be a complete set ofall potential risks or uncertainties.

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Non-GAAP Financial Measures

* * FINANCIAL MEASURES

Sprint provides financial measures determined in accordance with GAAP and adjusted GAAP (non-GAAP). The non-GAAP financial measures reflect industryconventions, or standard measures of liquidity, profitability or performance commonly used by the investment community for comparability purposes. Thesemeasurements should be considered in addition to, but not as a substitute for, financial information prepared in accordance with GAAP. We have definedbelow each of the non-GAAP measures we use, but these measures may not be synonymous to similar measurement terms used by other companies.

Sprint provides reconciliations of these non-GAAP measures in its financial reporting. Because Sprint does not predict special items that might occur in thefuture, and our forecasts are developed at a level of detail different than that used to prepare GAAP-based financial measures, Sprint does not providereconciliations to GAAP of its forward-looking financial measures.

The measures used in this release include the following:

EBITDA is operating income/(loss) before depreciation and amortization. Adjusted EBITDA is EBITDA excluding severance, exit costs, and other special items.Adjusted EBITDA Margin represents Adjusted EBITDA divided by non-equipment net operating revenues for Wireless and Adjusted EBITDA divided by netoperating revenues for Wireline. We believe that Adjusted EBITDA and Adjusted EBITDA Margin provide useful information to investors because they are anindicator of the strength and performance of our ongoing business operations. While depreciation and amortization are considered operating costs underGAAP, these expenses primarily represent non-cash current period costs associated with the use of long-lived tangible and definite-lived intangible assets.Adjusted EBITDA and Adjusted EBITDA Margin are calculations commonly used as a basis for investors, analysts and credit rating agencies to evaluate andcompare the periodic and future operating performance and value of companies within the telecommunications industry.

Postpaid ABPA is average billings per account and calculated by dividing postpaid service revenue earned from postpaid customers plus billings frominstallment plans and non-operating leases, as well as equipment rentals, by the sum of the monthly average number of postpaid accounts during the period.We believe that ABPA provides useful information to investors, analysts and our management to evaluate average postpaid customer billings per account as itapproximates the expected cash collections, including billings from installment plans and non-operating leases, as well as equipment rentals, per postpaidaccount each month.

Postpaid Phone ABPU is average billings per postpaid phone user and calculated by dividing service revenue earned from postpaid phone customers plusbillings from installment plans and non-operating leases, as well as equipment rentals by the sum of the monthly average number of postpaid phoneconnections during the period. We believe that ABPU provides useful information to investors, analysts and our management to evaluate average postpaidphone customer billings as it approximates the expected cash collections, including billings from installment plans and non-operating leases, as well asequipment rentals, per postpaid phone user each month.

Free Cash Flow is the cash provided by operating activities less the cash used in investing activities other than short-term investments and equity methodinvestments. Adjusted Free Cash Flow is Free Cash Flow plus the proceeds from device financings and sales of receivables, net of repayments. We believethat Free Cash Flow and Adjusted Free Cash Flow provide useful information to investors, analysts and our management about the cash generated by ourcore operations and net proceeds obtained to fund certain leased devices, respectively, after interest and dividends, if any, and our ability to fund scheduleddebt maturities and other financing activities, including discretionary refinancing and retirement of debt and purchase or sale of investments.

Net Debt is consolidated debt, including current maturities, less cash and cash equivalents and short-term investments. We believe that Net Debt providesuseful information to investors, analysts and credit rating agencies about the capacity of the company to reduce the debt load and improve its capitalstructure.

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Wireless ServiceRevenue[1]

Year-over-year growth for the second consecutive quarter

Delivered for the 12th consecutive quarter

Operating Income

Next-GenNetwork

Increased digital sales and the implementing of artificial intelligence

More LTE coverage and faster download speeds year-over-year

Highest for a fiscal 3Q in 12 years

Adjusted EBITDA*

PostpaidNet Additions

Delivered for the 6th

consecutive quarter

[1] excluding the impact of the new revenue standard

DigitalTransformation

FY3Q 2018Highlights

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Tri-Band Existing Sites800 MHz, 1.9 GHz, 2.5 GHz

Outdoor Small Cells

Massive MIMO

2.5 GHz deployed on ~75% of macro sites

27K on air

Hundreds of sites commercially on air

FASTEST download speeds in major markets

Manhattan, Los Angeles, Boston, Seattle and Denver

Network BuiltFor Unlimited

RootMetrics Metro testing: 2H 2018. Chart represents Median Downlink Throughput speed.Tested with best commercially available smartphones on 4 national mobile networks acrossall available network types. Your experiences may vary. The RootMetrics award is not anendorsement of Sprint. Visit www.rootmetrics.com for more details.

15 Mbps

29 Mbps

93%Improvement

in Average Download

Speeds

Dec-16 Dec-18

Analysis by Ookla® of Speedtest Intelligence® data comparing average download speeds from December

2016 to December 2018 for all mobile results.

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Results in Thousands

Unlimited for All

PlusUnlimited

Tablets WatchesPostpaid Net Adds

6 consecutive quarters of

GROWTH

Q316 Q317 Q318

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Increase Digital Revenue

Intelligent Customer Experience

Improve Digital Engagement

30% of chats handled by virtual agents

Postpaid gross adds through digital channels up nearly 70% year-over-year

Web conversions up year-over-year while media spend and cost per click are down

Data driven culture expected to contribute to the evolution of our customer experience and the next wave of cost reductions

DigitalTransformation

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Service Revenue & ARPU

[1] excluding the impact of the new revenue standard

Wireless Service RevenueDollars in Billions

Postpaid Average Revenue per User (ARPU)

New revenue standard

INCREASEDyear-over-year for the second consecutive quarter [1]

year-over-year declineSMALLESTin nearly 5 years [1]

Q316 Q317 Q318Q316 Q317 Q318

New revenue standard

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Cost Reductions & Adjusted EBITDA*Adjusted EBITDA*Dollars in Billions

YTD17 YTD18

Cost of Services + SG&A Expenses

[1] excluding the impact of the new revenue standard and merger costs

approximately

$300Myear-over-year net reductions [1]

HIGHESTfiscal third quarter in 12 years

Dollars in Billions

Q316 Q317 Q318

New revenue standard New revenue standard

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Dollars in MillionsOperating Income

ProfitabilityNet Income (Loss)

Q316 Q317 Q318Q316 Q317 Q318

12 quarters of operating income

CONSECUTIVE

Tax reform impact

Dollars in Billions

excluding tax reform and the settlement of patent infringement lawsuit in 3Q17

RELATIVELY STABLE

New revenue standard New revenue standard

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Capex & Adjusted Free Cash FlowAdjusted Free Cash Flow*

[1] excludes capitalized device leases

Cash Capex[1]

Q316 Q317 Q318Q316 Q317 Q318

more than

DOUBLEDyear-over-year

Dollars in Billions Dollars in Millions

Settlement of patent infringement lawsuit

Higher network investments and working capital timing impact 3Q18

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2018Guidance

FISCAL YEAR

$11.7B-$12.0B excluding the impact of the new revenue

standard

As Reported

AdjustedEBITDA*

$12.4 billion to$12.7 billion

excluding leased devices

CashCapex

$5.0 billion to$5.5 billion

No change from previous quarter

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Questions& Answers

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Appendix

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Impact of New Revenue Standard (ASC 606)(Millions, except per share data)

As reported

Balances without adoption

of Topic 606 Change As reported

Balances without adoption

of Topic 606 ChangeNet operating revenues

Service revenue 5,699$ 5,898$ (199)$ 17,201$ 17,716$ (515)$ Equipment sales 1,589 1,264 325 4,180 3,223 957 Equipment rentals 1,313 1,329 (16) 3,778 3,827 (49)

Total net operating revenues 8,601 8,491 110 25,159 24,766 393 Net operating expenses

Cost of services (exclusive of depreciation and amortization below) 1,648 1,671 (23) 5,019 5,073 (54) Cost of equipment sales 1,734 1,715 19 4,521 4,431 90 Cost of equipment rentals (exclusive of depreciation below) 182 182 - 457 457 - Selling, general and administrative 2,003 2,145 (142) 5,731 6,047 (316) Depreciation - network and other 1,088 1,088 - 3,132 3,132 - Depreciation - equipment rentals 1,137 1,137 - 3,454 3,454 - Amortization 145 145 - 475 475 - Other, net 185 185 - 298 298 -

Total net operating expenses 8,122 8,268 (146) 23,087 23,367 (280) Operating income 479 223 256 2,072 1,399 673 Total other expense (632) (632) - (1,781) (1,781) - (Loss) income before income taxes (153) (409) 256 291 (382) 673 Income tax benefit (expense) 8 62 (54) (56) 85 (141) Net (loss) income (145) (347) 202 235 (297) 532

Less: Net loss (income) attributable to noncontrolling interests 4 4 - (4) (4) - Net (loss) income attributable to Sprint Corporation (141)$ (343)$ 202$ 231$ (301)$ 532$

Basic net (loss) income per common share attributable to Sprint Corporation (0.03)$ (0.08)$ 0.05$ 0.06$ (0.07)$ 0.13$ Diluted net (loss) income per common share attributable to Sprint Corporation (0.03)$ (0.08)$ 0.05$ 0.06$ (0.07)$ 0.13$ Basic weighted average common shares outstanding 4,078 4,078 - 4,050 4,050 - Diluted weighted average common shares outstanding 4,078 4,078 - 4,110 4,050 60

Three Months Ended December 31, 2018 Nine Months Ended December 31, 2018

RECONCILIATION OF ADJUSTMENTS FROM THE ADOPTION OF TOPIC 606 RELATIVE TO TOPIC 605 ON CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)