1500071437 (1)

©2015 Sprint. This information is subject to Sprint policies regarding use and is the property of Sprint and/or its relevant affiliates. Any review, use, distribution or disclosure is prohibited
without authorization.
May 5, 2015
FY4Q14 Results
Conference Call

Cautionary Statement
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,” “providing guidance,” and similar expressions are intended to identify information that is not historical in
nature. All statements that address operating performance, events or developments that we expect or anticipate will
occur in the future — including statements relating to our network, connections growth, and liquidity; and
statements expressing general views about future operating results — are forward-looking statements. Forward-
looking statements are estimates and projections reflecting management’s judgment based on currently available
information and involve a number of risks and uncertainties that could cause actual results to differ materially from
those suggested by the forward-looking statements. With respect to these forward-looking statements, management
has made assumptions regarding, among other things, the development and deployment of 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; the timing of various events and
the economic environment. Sprint believes these forward-looking statements are reasonable; however, you should
not place undue reliance on forward-looking statements, which are based on current expectations and speak only as
of the date when made. Sprint undertakes no obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-
looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially
from our company's historical experience and our present expectations or projections. Factors that might cause such
differences include, but are not limited to, those discussed in Sprint Corporation’s Transition Report on Form 10-K for
the period ended March 31, 2014, and, when filed, our Form 10-K for the fiscal year ended March 31, 2015. You
should understand that it is not possible to predict or identify all such factors. Consequently, you should not consider
any such list to be a complete set of all potential risks or uncertainties.
2

*Non-GAAP Financial Measures
Financial results in the enclosed tables include a predecessor period related to the results of operations of Sprint Communications, Inc. (formerly Sprint Nextel) prior to the closing of
the SoftBank transaction on July 10, 2013, and the applicable successor periods. In order to present financial results in a way that offers investors a more meaningful comparison of
the year-to-date results, we have combined the 2013 results of operations for the predecessor and successor periods. For additional information, please reference the section titled
Financial Measures. Trended financial performance metrics on a combined basis can also be found at our Investor Relations website at www.sprint.com/investors.
Sprint provides financial measures determined in accordance with GAAP and adjusted GAAP (non-GAAP). The non-GAAP financial measures reflect industry conventions, or standard
measures of liquidity, profitability or performance commonly used by the investment community for comparability purposes. These measurements should be considered in addition
to, but not as a substitute for, financial information prepared in accordance with GAAP. Other than the use of non-GAAP combined results as described above, we have defined
below 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 the future, and our forecasts
are developed at a level of detail different than that used to prepare GAAP-based financial measures, Sprint does not provide reconciliations 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 net operating revenues for Wireline. We believe that
Adjusted EBITDA and Adjusted EBITDA Margin provide useful information to investors because they are an indicator of the strength and performance of our ongoing business
operations. While depreciation and amortization are considered operating costs under GAAP, 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 and compare the periodic and future operating performance and value of companies within the telecommunications industry.
ABPU is average billings per user and calculated by dividing service revenue earned from customers plus installment plan billings and lease revenue by the sum of the average number
of connections during the period. We believe that ABPU provides useful information to investors, analysts and our management to evaluate average Sprint platform postpaid
customer billings as it approximates the expected cash collections, including installment plan billings and lease revenue, per 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, including changes in restricted cash, if any,
and amounts included as investments in Clearwire and Sprint Communications, Inc. during the period, if applicable. We believe that Free Cash Flow provides useful information to
investors, analysts and our management about the cash generated by our core operations after interest and dividends, if any, and our ability to fund scheduled debt 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, short-term investments and, if any, restricted cash. We believe that Net Debt provides
useful information to investors, analysts and credit rating agencies about the capacity of the company to reduce the debt load and improve its capital structure.
3

Earnings
4QFY13 4QFY14
Reported net loss per share ($0.04) ($0.06)
4

Sprint Transformation Strategy
5
Phase 1
Stop the
Decline
Phase 2
Improving the Basics and Operational
Effectiveness
Phase 3
Profitable
Growth
 Acquisition
Decline
 Postpaid
Churn Rising
 Network in 4th
Place
 Acquisition
Growth
 Postpaid
Churn Peak
 Network
Improves to
3rd Place
 Acquisition
Growth
 Postpaid
Churn
Improving
 Network
Improving
 Continuous Postpaid Phone
Growth
 Continuous Postpaid Churn
Improvement
 Network Winning in Major
Markets
 Unique and
Differentiated
Value
Proposition
 Network
Densification
and Migration
to all-LTE
Jan-Sep 2014 Oct-Dec 2014 Jan-Mar 2015 Going Forward

Customer Acquisition
6
^ indicates results specific to Sprint Platform

Making Progress vs Competition
7
^results for Sprint represent Sprint platform

Customer Retention
8
• Sprint postpaid churn of 1.84%
• Biggest sequential improvement in
nearly seven years
• Voluntary churn shows best sequential
improvement in nearly eleven years
due to network improvement
Shifting Focus To Retention
• Higher engagement from base with
postpaid upgrades up year-over-year
Customer-Centric Approach
46 bp
q/q
Results for Sprint represent Sprint platform

Network
• LTE coverage to nearly 280M pops.
Including expansion of LTE on 800 MHz
and 2.5 GHz
• Improved to 3rd overall in 2H14
RootMetrics® testing
• Now winning in major markets including
shared RootMetrics® award for best
overall network in Las Vegas for 1H15
Continued Improvement
9
• Embracing Wi-Fi as additional coverage
layer
• Wi-Fi calling now available on iPhone®
complementing rich Android portfolio to
reach 27 total Wi-Fi calling devices
Free Wi-Fi Calling

Customer Experience
10
• Sprint’s Net Promoter Score highest in
nearly two years
• Focused on serving and satisfying our
customers
Developing A Customer-First Culture
• Postpaid and Prepaid calls per customer
both reached record lows
• Postpaid calls per customer down 20%
year-over-year showing improved
satisfaction
Record Low Calls To Care20%
y/y

Building Foundation For Growth
11
Eligible countries for International Value Roaming are Argentina, Brazil, Chile,
Costa Rica, El Salvador, Germany, Guatemala, Japan, Mexico, Nicaragua,
Panama, Russia, South Korea, Spain and the United Kingdom

Increasing Focus on Hispanic Market
12
Projected population growth 2010 to 2050^
74% Hispanic contribution to total U.S.
labor force growth 2010-2020
Total
White Non-
Hispanic
Black Asian Hispanic
+42%
+1%
+56% +142% +167%
• Hispanic market is incredible
opportunity with 54M and
growing
• Will continue to fuel over half of
the US total population growth
• Roger Solé to lead new Hispanic
business unit and build world-
class, winning team
Growing Market Opportunity
^Source: U.S. Census Bureau. HH income growth 2000-2011, via Nielsen. Bureau of Labor Statistics

Revenue and ABPU*
13
• Wireless service revenue declines year-
over-year due to postpaid phone losses
and migration to device financing plans
• Partially offset by growth in equipment
revenue
• Wireline revenue down year-over-year
Consolidated Net Operating Revenue
• Total billings per customer declining
slightly as a result of tablet mix
• Continued migration to device financing
options shift more of monthly bill to
equipment
Postpaid Billings Per User

Adjusted EBITDA* & Operating Income
14
• Operating revenue declines year-over-
year partially offset by cost reductions
Consolidated Adjusted EBITDA* of
$1.74 Billion
• Down slightly year-over-year due to
higher depreciation expense
Operating Income of $318 Million

Cap Ex, FCF, & Liquidity
15
• Increase primarily related to leased
devices in Indirect channels
• Investment in network remains steady
Cash Capex of $2 Billion
• Also have network vendor financing
availability of $1.4 billion
• Recently expanded receivables
financing facility to $3.3 billion
• No significant maturities due until
December 2016
Maintaining Strong Liquidity of $7.5
Billion

Fiscal 2015 Guidance
• Consolidated Adjusted EBITDA* between $6.5B -
$6.9B
• Accrued Capex of approximately $5B excluding
impact of leased devices sold through indirect
channels
16

Questions & Answers

Non-GAAP Reconciliations - Consolidated
18
(Millions)
Combined (1)
Quarter
To
Date
Quarter
To
Date
Quarter
To
Date
Year
To
Date
Year
To
Date
101 Days
Ended
Year
To
Date
3/31/15 12/31/14 3/31/14 3/31/15 3/31/14 7/10/13 3/31/14
Net Loss (224)$ (2,379)$ (151)$ (3,345)$ (2,002)$ (515)$ (2,517)$
Income tax expense (benefit) 27 (657) 56 (574) 100 1,563 1,663
(Loss) Income before Income Taxes (197) (3,036) (95) (3,919) (1,902) 1,048 (854)
Equity in earnings of unconsolidated investments and other, net (8) (10) (1) (27) (68) (2,665) (2,733)
Interest expense 523 506 516 2,051 1,434 703 2,137
Operating Income (Loss) 318 (2,540) 420 (1,895) (536) (914) (1,450)
Depreciation and amortization 1,454 1,320 1,297 5,349 4,231 1,753 5,984
EBITDA* 1,772 (1,220) 1,717 3,454 3,695 839 4,534
Severance and exit costs (7)
(29) 22 52 304 361 627 988
Impairments (6)
- 2,133 75 2,133 75 - 75
Litigation (8)
- 91 - 91 - - -
Business combinations (9)
- - - - 100 53 153
Partial pension settlement (10)
- 59 - 59 - - -
Release of assumed liability - U.S. Cellular asset acquisition (11)
- (41) - (41) - - -
Hurricane Sandy (12)
- - - - (7) - (7)
Adjusted EBITDA* 1,743$ 1,044$ 1,844$ 6,000$ 4,224$ 1,519$ 5,743$
Adjusted EBITDA Margin* 24.4% 14.4% 23.4% 20.3% 18.4% 17.0% 18.0%
Selected items:
Increase in deferred tax asset valuation allowance 114$ 500$ 82$ 911$ 790$ 1,145$ 1,935$
Accrued capital expenditures 1,422$ 1,827$ 1,057$ 6,182$ 4,624$ 2,072$ 6,696$
Cash paid for capital expenditures 2,047$ 1,568$ 1,488$ 6,004$ 5,335$ 1,759$ 7,094$
Successor Predecessor

Non-GAAP Reconciliations - Wireless
19
(Millions)
Combined (1)
Quarter
To
Date
Quarter
To
Date
Quarter
To
Date
Year
To
Date
Year
To
Date
101 Days
Ended
Year
To
Date
3/31/15 12/31/14 3/31/14 3/31/15 3/31/14 7/10/13 3/31/14
Operating Income (Loss) 320$ (2,232)$ 490$ (1,464)$ (438)$ (888)$ (1,326)$
(29) 21 51 263 331 627 958
Impairments (6)
- 1,900 72 1,900 72 - 72
Litigation (8)
- 84 - 84 - - -
Business combinations (9)
- - - - 25 - 25
- 43 - 43 - - -
Release of assumed liability - U.S. Cellular asset acquisition (11)
- (41) - (41) - - -
Hurricane Sandy (12)
- - - - (7) - (7)
Depreciation and amortization 1,406 1,259 1,224 5,109 4,032 1,636 5,668
Adjusted EBITDA* 1,697$ 1,034$ 1,837$ 5,894$ 4,015$ 1,375$ 5,390$
Selected items:
Accrued capital expenditures 1,343$ 1,616$ 930$ 5,589$ 4,173$ 1,884$ 6,057$
Cash paid for capital expenditures 1,957$ 1,376$ 1,343$ 5,442$ 4,878$ 1,570$ 6,448$
PredecessorSuccessor

Non-GAAP Reconciliations - Wireline
20
(Millions)
Combined (1)
Quarter
To
Date
Quarter
To
Date
Quarter
To
Date
Year
To
Date
Year
To
Date
101 Days
Ended
Year
To
Date
3/31/15 12/31/14 3/31/14 3/31/15 3/31/14 7/10/13 3/31/14
Operating (Loss) Income (4)$ (305)$ (62)$ (413)$ 7$ 29$ 36$
(2) 2 2 39 32 - 32
Impairments (6)
- 233 3 233 3 - 3
Litigation (8)
- 6 - 6 - - -
- 16 - 16 - - -
Depreciation and amortization 46 59 69 232 192 115 307
Adjusted EBITDA* 40$ 11$ 12$ 113$ 234$ 144$ 378$
Selected items:
Accrued capital expenditures 68$ 70$ 72$ 278$ 227$ 104$ 331$
Cash paid for capital expenditures 70$ 81$ 79$ 275$ 232$ 110$ 342$
Successor Predecessor

Non-GAAP Reconciliations – ABPU*
21
(Millions, except ABPU*)
Quarter
To
Date
Quarter
To
Date
Quarter
To
Date
Year
To
Date
3/31/15 12/31/14 3/31/14 3/31/15
ABPU* (c)
Sprint platform service revenue 5,049$ 5,202$ 5,719$ 21,181$
Add: Installment plan billings and lease revenue 423 288 55 1,041
Total for Sprint platform postpaid connections $ 5,472 $ 5,490 $ 5,774 $ 22,222
Sprint platform ABPU* 61.71$ 62.16$ 64.13$ 62.55$
Successor

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