Every 2–3 years, we systematically engage a broad sampling of internal and external stakeholders to identify and prioritize the most significant ESG impacts, risks and opportunities our company should address to help ensure long-term business success. This assessment provides insight into how AT&T should focus our resources, reporting and communications. We monitor our leading ESG topics for emerging developments and adjust managerial and programmatic efforts accordingly. We completed our most recent assessment in Q4 2021, incorporating input from AT&T officers and hundreds of employees, inv estors, r egu lators, c ustomers, s uppliers, in dustry gr oups, N GOs and o ther e xternal c ol laborators. The results of our assessment are incorporated into internal enterprise risk assessment activities and reported to company officers, the CSR Governance Council, GPC and Audit Committee. The insights gleaned from stakeholder engagement efforts help guide our corporate responsibility strategy, improve our business op erations a nd p olicies, e nsure tr ansparent r eporting and pr ioritize pro grammatic i nvestments and c ollaboration a cross the bu siness.  Technological Innovation  Digital Divide and Affordability  Regulatory Compliance  Talent Attraction, Engagement and Retention  Public Policy Influence and Political Contributions  Business Continuity  Climate Change and GHG Emissions  Employee Diversity, Equity and Inclusion  Supply Chain Responsibility, Sustainability and Diversity  Board Oversight of ESG  Water Use  Market Access, Trade Barriers and Geopolitical Risk  Reponsible Use and Product Safety  Hazardous and Solid Waste  Energy Efficiency and Renewables  Responsible Marketing, Advertising and Offer Transparency  Community Engagement and Philanthropy  Product Lifecycle Management and E-Waste  Internet Governance and Digital Freedom  Employee Health and Safety and Well-Being  Human Rights  Labor Relations P rivacy  D isaster Response and Relief  N etwork and Data Security  N etwork Quality and Reliability  B usiness Ethics/Ethical Cultur e  F air Competitio n  A ccessibility  Ongoing stakeholder engagement is a critical part of our ESG approach, helping us adapt to change by anticipating emerging risks and opportunities. Organizations across AT&T – such as CSR, External Affairs, Investor Relations and Finance – meet and collaborate with our stakeholders throughout the year. Our approach to ESG reporting Read more: Materiality assessment website ESG material topics and reporting Importance to management and impact to AT&T business success Importance to stakeholders GOVERNANCE ESG MATERIAL TOPICS AND REPORTING 2021 ESG material topics The matrix below summarizes the results of our 2021 ESG materiality assessment. The 4 quadrants of the matrix represent levels of relative importance to AT&T and our stakeholders. Topics ranking higher with our stakeholders generate greater outside e ngagement and more frequent external communication. Top business priorities necessitate increased collaboration across our company . A lthough the results of our ESG materiality assessment are not intended to convey financial materiality, a ll topics are considered important and impactful to our business . W e recognize the dynamic nature of these topics over time , and a s p art of our ongoing governance we continuously monitor pressing and emerging ESG issues and current events . We prioritize programmatic and managerial efforts on those issues, as appropriate. ESG materiality assessment Read more: ESG reporting website • TCFD Report • SASB Index • GRI Index • UNGC Index Read more: Materiality assessment website OVERVIEW AT&T AND SHAREHOLDERS CUSTOMERS AND COMMUNITIES EMPLOYEES SUPPLIERS ENVIRONMENT GOVERNANCE GOALS SUMMARY ESG Assessments • AT&T has been a constituent of the 3BL Media 100 Best Corporate Citizens list the past 10 years. • AT&T has been named to the Bloomberg Gender Equality I ndex for 5 consecutive years, since its 2018 expansion beyond the financial services se ctor. • AT&T has scored at the Leadership Level for the CDP Climate Change assessment for the past 6 years, earning an A- score each year. • For the past 5 years, AT&T has been the only U.S.-based telecommunications services provider on the Dow Jones Sustainability Index (DJSI) North America. • For the past 12 years, AT&T has scored a perfect 100% on the Human Rights Campaign Corporate Equality Index. • For 2022, AT&T is ranked 18th overall on the JUST Capital list of America’s 100 most just companies. We’ve been recognized on the list since its 2018 inception. AT&T’s ESG reporting practice is led by a de dicated t ea m wi thin ou r CSR organization under the leadership of our CSO, with addit ional oversight by the G P C and Audit Committee. Each yea r, we e ngage h undreds of subject matter experts and business uni t a pprovers across the company to pre pa re, review and continuously enhance our reports. Our annual ESG Summary is reviewed by the CSR Governance Council and senior executives prior to publication. ESG disclosures are further validated by our internal finance organization and select environmental c a lculat ions – such a s energy use and GHG emission s – are externally assured b y a n independent th ird party. We seek to deliver a comprehensive reporting s uite f eaturing c onsistent a nd comparable me trics. W e’ve al igned to the G lobal R eporting I nitiative ( GRI) standards since 2007, to communicate our managerial approach to impacts on broad topics such as the economy, environment, society and human rights. In recognition of investor interest in our management of ESG impacts on enterprise value, our 2022 ESG Summary represents AT&T’s first step toward alignment with the Integrated Reporting Framework (currently within the Value Reporting Foundation). We align to relevant industry-specific Sustainability Accounting Standards Board (SASB) standards, the Task Force on Climate- related Financial Disclosures (TCFD) recommendations and the CDP Climate Change assessment. We also report in alignment with the U.N. Global Compact and U.N. Sustainable Development Goals, reflecting stakeholder interest in AT&T’s contributions to global sustainable development objectives. KPI s AT&T ESG SUMMARY REPORT 2022 AT&T ESG SUMMARY REPORT 2022 42 43