W7D1

COMPANY PROFILE

Sprint Corporation

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Sprint Corporation TABLE OF CONTENTS

Sprint Corporation © MarketLine

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TABLE OF CONTENTS

Company Overview ........................................................................................................ 3 Key Facts ......................................................................................................................... 3 Business Description ..................................................................................................... 4 History ............................................................................................................................. 6 Key Employees ............................................................................................................. 14 Key Employee Biographies .........................................................................................15 Major Products & Services ..........................................................................................20 SWOT Analysis ............................................................................................................. 21 Top Competitors ........................................................................................................... 26 Company View .............................................................................................................. 27 Locations And Subsidiaries ........................................................................................31

Sprint Corporation Company Overview

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Company Overview

COMPANY OVERVIEW

Sprint Corporation (Sprint or "the company") is a communications services company engaged in offering a range of wireless and wireline communications products and services to consumers, businesses, government subscribers and resellers. The company offers wireless and wireline services to subscribers in all 50 states in the US, Puerto Rico, and the US Virgin Islands. The company primarily operates in the US where it is headquartered in Overland Park, Kansas.

The company reported revenues of (US Dollars) US$32,180 million for the fiscal year ended March 2016 (FY2016), a decrease of 6.8% over FY2015. The operating profit of the company was US$310 million in FY2016, compared to an operating loss of US$1,895 million in FY2015. The net loss of the company was US$1,995 million in FY2016, compared to a net loss of US$3,345 million in FY2015.

The company reported revenues of US$8,549.0 million for the third quarter ended December 2016, an increase of 3.7% over the previous quarter.

Key Facts

KEY FACTS

Head Office Sprint Corporation 6200 Sprint Pkwy OVERLAND PARK Kansas OVERLAND PARK Kansas USA

Phone 1 855 8483280 Fax Web Address investors.sprint.com Revenue / turnover (USD Mn) 32,180.0 Financial Year End March Employees 30,000 New York Stock Exchange Ticker S

Sprint Corporation Business Description

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Business Description

BUSINESS DESCRIPTION

Sprint Corporation (Sprint or "the company") is a telecommunications company offering a comprehensive range of wireless and wireline services to meet the needs of individual consumers, businesses, government subscribers and resellers. The company offers wireless and wireline voice and data transmission services to subscribers in all 50 states in the US, Puerto Rico, and the US Virgin Islands under the Sprint corporate brand, which includes the retail brands of Sprint, Boost Mobile, Virgin Mobile, and Assurance Wireless. The company catered to 58.8 million wireless subscribers as on March 31, 2016.

The company operates through two business segments: Wireless and Wireline.

Sprint's Wireless segment offers wireless voice and data transmission services and equipment to retail, wholesale and affiliate customers. The company also supports the development of applications, content and devices on the Sprint platform. In addition, the company offers a portfolio of machine-to-machine (M2M) solutions. These M2M solutions provide a secure, and real-time wireless two-way data connection across a range of connected devices.

The Wireless segment offers postpaid and prepaid services. The company's postpaid portfolio include several price plans for both consumer and business subscribers. These plans include unlimited talk, text and data or allow subscribers to purchase monthly data allowances. It also offer family plans that include multiple lines of service under one account. Sprint's prepaid portfolio currently includes multiple brands, each designed to appeal to specific subscriber uses and demographics. Sprint prepaid primarily serves subscribers who want plans that are affordable, simple and flexible without a long-term commitment. Boost Mobile primarily serves subscribers with plans that offer unlimited text and talk with step pricing based on their preferred data usage. Virgin Mobile is designated as a Lifeline-only Eligible Telecom Carrier (ETC) in 42 jurisdictions as of March 31, 2016, and provides service under Assurance Wireless brand, which provides eligible subscribers, in certain states, who meet income requirements or are receiving government assistance, with a free wireless phone, 350 free local and long-distance voice minutes each month and unlimited free texts under the Lifeline Program. The company's wholesale business offers an array of network, product and device solutions to businesses.

Sprint's wireless data communications services comprises data and voice services, which include mobile productivity applications like internet access, messaging and email services; wireless photo and video offerings; location-based capabilities such as asset and fleet management, dispatch services and navigation tools; and mobile entertainment applications. Wireless voice communications services include basic local and long-distance wireless voice services throughout the US; voicemail, call waiting, three-way calling, caller identification, directory assistance and call forwarding. In addition, the company offers roaming services for data and voice services in numerous countries outside of the US. The company also offers customized design, development, implementation and support for wireless services provided to large companies and government agencies. The company's services are provided using an array of devices and applications and services that run on these devices. Its device portfolio includes handsets from original equipment manufacturers (OEMs), hotspots to connect wireless fidelity (Wi-Fi) enabled devices to the Sprint platform, embedded tablets and laptop devices. The company also provides accessories such as carrying cases, hands-free devices among other items. In FY2016, the Wireless

Sprint Corporation Business Description

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segment reported revenues of $30,377 million, which accounted for 94.4% of the company's total revenue.

The company's Wireline segment offers a suite of wireline services to other communications companies, and targeted business and consumer subscribers. The segment's services and products include domestic and international data communications which deploy various protocols such as multiprotocol label switching technologies (MPLS), internet protocol (IP), managed network services, voice over internet protocol (VoIP), session initiated protocol (SIP) and traditional voice services. The company offers IP services combined with its wireless services which include Sprint mobile integration service and DataLink service, which uses its wireless networks to connect a subscriber location into their primarily wireline wide-area IP/MPLS data network. In FY2016, the Wireline segment reported revenues of $1,790 million, which accounted for 5.6% of the company's total revenue.

Sprint Corporation History

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History

HISTORY

n May, Samsung announced to sell its new 360-degree camera at a cost of US$229 and it is available at online platforms such as -Mobile, Verizon, Best Buy, Amazon, AT&T, Sprint, U.S. Cellular, and ShopSamsung app.

In May, the company announced to open 105 new stores in the Chicago by 2018.

In June, the company expanded its stores across New England.

Sprint and Open Mobile formed a new joint ventures in Puerto Rico andt he US Virgin Islands. The joint venture will offer postpaid, prepaid, Lifeline and business services.

Sprint and Dixons Carphone, a wireless and consumer electronics retailer, announced a joint venture to open and operate up to 500 new Sprint-branded stores across the US.

Sprint entered into a partnership agreement with i-wireless to strengthen its position in the wireless Lifeline services industry.

Sprint partnered with DraftKings for first wireless sponsorship to connect sports fans nationwide.

Sprint announced a partnership with Cequint, a wholly-owned subsidiary of Transaction Network Services, to help protect Sprint customers from unwanted robocalls.

Sprint announced to offer wireless service to Advanced Disposal Services.

The company announced Mobility-as-a-Service (MaaS) to simplify mobile services and tools for businesses. Subsequently, Boost Mobile launched Wi-Fi hotspot plans with the availability of NETGEAR Fuse.

Sprint expanded its network coverage to include all 35 underground MBTA stations and 19.5 miles of tunnel on the Red, Blue, Green and Orange lines.

Boingo Wireless, the leading DAS and Wi-Fi provider, and Sprint entered into a multi-year Wi-Fi agreement to enable access to Boingo Wi-Fi Networks in 35 Major US Airports.

Virgin Mobile USA launched the industry's first no-contract data sharing plans, available on four specific 4G LTE smartphones pre-loaded with the Virgin Mobile data-sharing application.

Sprint signed an agreement with RadioShack's largest shareholder, General Wireless, which would enable Sprint to expand its branded store distribution by approximately 1,750 stores.

Sprint launched its next-generation Command Center 2.0 that provides next-generation device management to manage M2M infrastructure.

Sprint Corporation History

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Sprint, in conjunction with city of Kansas City and Cisco, deployed Cisco hardware to construct, own and manage the intelligent Wi-Fi network that will serve as the backbone of Kansas City's Smart+Connected City framework.

Sprint announced retail agreement with Dixons Carphone, Europe's leading wireless retailer. This is expected to accelerate Sprint's retail transformation.

Sprint and Shentel extended their affiliate agreement and also signed other agreements which includes NTELOS Holdings (nTelos) acquisition by Shentel. Subsequently, the Los Angeles Police Department selected the company as the wireless carrier to support the connected officer program.

The company signed a deal with Mobile Leasing Solutions for the sale of and lease-back of leased devices which provides the company with approximately $1.1 billion in cash proceeds.

Sprint partnered with internet corporation Google to offer Google apps for business. The company reached 4G LTE roaming agreements with 12 rural and regional network carriers in the US covering a population of over 34 million to accelerate the deployment and utilization of 4G LTE across the US. Sprint partnered with internet corporation Google to offer Google apps for business. Later, Sharp selected Sprint to launch its first AQUOS wireless phone in the US. Subsequently, Sprint announced Sprint Complete Collaboration; a cloud based unified communications (UC) solution designed for distributed companies, allowing multiple locations throughout the European region to connect over the same set of SIP trunks while preserving local telephone numbers, calling plans and emergency services.

Sprint and Monnit collaborated to deliver business monitoring solutions to its customers. This collaboration provides Sprint customers access to wireless sensing and monitoring solution designed specifically for businesses. Sprint Techstars and Providence Health & Services signed an agreement to work together to support mobile health startups. Sprint and ComputerTalk partnered to integrate contact center capabilities into Sprint Complete Collaboration with Microsoft Lync, which helps in enabling businesses to rely on Sprint. At the end of the year, Sprint was selected by the State of Wisconsin to provide assistive communications services to individuals in the state who are deaf, have hearing loss or a speech disability, for another three years plus two one-year renewals.

Sprint launched Sprint Prepaid, a new branded prepaid offer for customers. Subsequently, Virgin Mobile USA and NETGEAR, a global networking company, launched the NETGEAR Mingle mobile hotspot, Virgin Mobile's first 4G LTE broadband device on its Broadband2Go portfolio. During the year, the company launched Total Equipment Protection (TEP) Plus, a comprehensive protection service for devices.

Sprint expanded its conferencing capabilities for Google Apps for work with the addition of UberConference by Switch Communications.

Sprint entered into 4G LTE agreements with 15 additional rural and regional network carriers as part of the Rural Roaming Preferred Provider program. Subsequently, Sprint teamed with three San Antonio organizations: the San Antonio Hispanic Chamber of Commerce, the San Antonio Builders Association and the San Antonio Restaurant Association to enhance the local business productivity and employee engagement.

Sprint Corporation History

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The company developed a program with Competitive Carriers Association (CCA) and reached an agreement with the NetAmerica Alliance to accelerate the deployment and utilization of 4G LTE across the rural areas in the US. Sprint and NTELOS Holdings, a provider of high-speed, voice and data services, extended their Strategic Network Alliance (SNA) through 2022. Under the agreement, NTELOS will continue to serve as the exclusive network provider for Sprint in the SNA territory, which covers approximately 2.1 million people in West Virginia and the western part of Virginia. The company reached 4G LTE roaming agreements with 12 rural and regional network carriers in the US covering a population of over 34 million to accelerate the deployment and utilization of 4G LTE across the US.

Sprint and DISH Network announced plans to jointly develop and deploy a fixed wireless broadband service, on a trial basis, in Corpus Christi, Texas.

Sprint Nextel and computer security software company, McAfee, began providing Sprint customers' access to McAfee Mobile Security and McAfee Family Protection Android Edition software, which will help them protect the important information stored on their mobile devices. Sprint Nextel launched Google Wallet services.

The company launched secure messaging solutions to enable Health Insurance Portability and Accountability Act (HIPAA) compliance.

In 2011, Sprint Nextel entered into an agreement with telecommunications company, Xo Communications, to deliver mobile virtual network operator (MVNO) wireless services. Subsequently, extending the technical memorandum of understanding signed with the Clearwire, the company entered into agreements potentially worth up to $1.6 billion over the subsequent four years. This includes payments for WiMAX services, possible pre-payments for LTE services and potential equity investments. The agreements further align Clearwire's LTE network build as a complement to Sprint's Network strategy.

In 2013, Sprint Nextel and Aegis Mobility, a provider of patented enterprise technology for the commercial fleet operators, collaborated to offer the FleetSafer, a software for mobile devices that can help drivers avoid certain distractions. In same year, the company's Pinsight Media+ and Telefonica's digital innovation arm, Telefonica Digital, collaborated to create one of the largest mobile advertising alliances in the world. The alliance is expected to enable advertisers reach about 370 million mobile customers across the US, Europe and Latin America with targeted advertising. Subsequently, Sprint Nextel and Mitel, a provider of cloud and premises-based unified communications and collaboration (UCC) solutions, entered into a wholesale agreement. The agreement would enable Sprint Nextel to include the Mitel hosted PBX cloud communications service in its Wholesale Cloud Services. During the same year, the company formed an alliance with Time, a division of Time Warner, to collaborate on mobile content, advertising and retail.

The company signed a five-year agreement with HIMEX to wirelessly support HIMEX Usage-Based Insurance (UBI) and telematics solutions. In the same year, the company and Canadian communications and media company, Rogers Communications, reached an agreement enabling Sprint to bring a comprehensive in-car infotainment and telematics solution to Canadians. Subsequently, the company formed an alliance with cloud-managed networks provider, Mako Networks, to add the Mako System to its

Sprint Corporation History

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portfolio of solutions for retailers and distributed enterprises.

The company acquired Kansas City-based Handmark and its subsidiary OneLouder Apps, a mobile app developer and advertising company, in 2013. The acquisition strengthened Sprint Nextel's Pinsight Media+ advertising service with capabilities to drive benefits for brands, app developers and consumers. During the same year, the company completed the acquisition of Clearwire. Also, Sprint Nextel and SoftBank announced the completion of their merger. Through this transaction, approximately 72% of current Sprint shares were acquired by SoftBank for $7.65 per share in cash, and the remaining shares were converted into shares of a new publicly traded entity named Sprint Corporation (Sprint or "the company").

The company expanded its cloud-based solutions portfolio by teaming up with Computer Sciences (CSC) to deliver infrastructure-as-a-service (IaaS). Subsequently, automobile manufacturer, Chrysler Group, enlisted Sprint Nextel for strategic wireless partner role enabling Uconnect Access which included in- vehicle services aimed at enhancing convenience, productivity and entertainment.

The company partnered with communications solutions provider, Orange Business Services, to provide global M2M connectivity outside the US. Through this agreement, Sprint Nextel will expand its M2M reach to include Sprint-branded global M2M connectivity to 180 countries. In the same year, the company entered into a new agreement with HealthSpot to embed wireless connectivity for the HealthSpot Care4 Station. Together Sprint Nextel and HealthSpot aim to integrate telemedicine and primary care for the benefit of customers. Subsequently, the company entered into agreements with Acadian Monitoring and DayaMed to offer M2M solutions in the healthcare domain. The company also agreed to provide wireless systems integration and telematics expertise to Chrysler Group. Further in 2012, Assurance Wireless, a non-contract brand of Sprint Nextel and Gold Mobile (GoMo Health) teamed up to jointly deliver mobile patient/member engagement and communications solutions for healthcare insurers, and health maintenance organizations (HMOs).

Softbank, a Japanese telecommunications and internet company, agreed to acquire 70% stake in Sprint Nextel, in 2012. As part of the transaction, the company's stockholders would receive total consideration of $12.1 billion in cash and 30% ownership in newly capitalized Sprint Nextel. The transaction provides the company with $8 billion of new capital. The transaction is expected to enable Sprint Nextel to benefit from Softbank's global leadership and would also enable it to enhance the operating scale. In the same year, Sprint Nextel entered into a definitive agreement with regional carrier US Cellular to acquire PCS spectrum and customers in parts of Illinois, Indiana, Michigan, Missouri and Ohio markets, for $480 million. The additional spectrum will enable Sprint Nextel to roll out 4G LTE network nationally. Subsequently, the company along with Geotab, a provider of technology and software, introduced the Geotabo6, a transportable device for cars and light-medium duty trucks and vans. During the same year, Sprint Nextel acquired 100% ownership of Clearwire, a provider of 4G wireless broadband services offering services. The acquisition is expected to provide Sprint Nextel with an enhanced spectrum portfolio that will strengthen its position and increase competitiveness in the US wireless industry.

Smoothstone, a provider of cloud-based enterprise communication applications and services, and Sprint Nextel made available Smoothstone's cloud-based voice solutions combined with Mobile Integration delivered over the Sprint Global MPLS network to provide flexibility and performance for the businesses.

Sprint Corporation History

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Sprint Nextel partnered with BodyMedia, a pioneer in developing wearable body monitoring and complete weight management systems, agreed to expand their product portfolio to include embedded devices, in 2011. Also, Sprint Nextel partnered with Google to launch Google Wallet, an application using near field communication technology (NFC) technology that enables consumers to transform their phones into their wallets and make purchases with a simple tap. The company and financial services corporation, American Express, signed an agreement that will provide Sprint Nextel's customers with access to Serve, American Express' digital payments platform. LightSquared, the first wholesale-only integrated 4G-LTE wireless broadband and satellite network in the US, and Sprint Nextel entered into a 15-year agreement that includes spectrum hosting and network services, 4G wholesale, and 3G roaming.

Sprint Nextel's wholesale business unit introduced Wholesale Mobile Integration, a fixed mobile convergence service. Subsequently, SmartSynch, a smart grid technology company, and the company introduced a residential utility meter that communicates over the nationwide Sprint Network.

The company launched Overdrive 3G/4G mobile hotspot by Sierra Wireless, a wireless communications equipment designer and manufacturer, in 2010. Also, the company provided its 4G technology to Kayentis, a Philadelphia-based software provider for the pharmaceutical and healthcare industry. Sprint Nextel and Telespree Communications, a provider of on-device self-service solutions, introduced Mobile Broadband on Demand, a wholesale prepaid data solution for Sprint Wholesale partners. Subsequently, Motorola and the company introduced Motorola i1, a push-to-talk Android-powered smartphone.

The company expanded availability of NextMail, powered by Pacific DataVision, to all Sprint Nextel's devices.

The company opened its M2M Collaboration Center in Burlingame, California. In 2010, the company partnered with doxo to offer its customers a paperless billing solution.

Sprint Nextel and the California Emergency Management Agency agreed to pilot the Commercial Mobile Alert System, in 2010. During the same year, Sprint Nextel and mobile medical software development company, AirStrip Technologies, collaborated to offer technological benefits for medical professionals. Also, Sprint Nextel implemented TMNG's SmartXchange solution, a mobile device recapture service for the communications industry. Subsequently, networking devices provider Digi International and Sprint Nextel partnered to provide commercial-grade integrated 4G routers to power M2M solutions. During the same year, the company signed international 4G roaming agreements with Digicel in Jamaica and Global Mobile in Taiwan. Also in 2010, the Motorola Solutions business of Motorola, and Sprint Nextel signed an agreement to extend Motorola's support of the Sprint iDEN network for three additional years.

The company partnered with GetJar, an app store, to offer GetJar's catalog of more than 60,000 free applications to all Sprint Nextel's customers. Subsequently, Sprint Nextel partnered with Knowlagent, a provider of call center talent management solutions, to deploy technology that provides training directly to call center agents' desktops during periods of time when there is excess agent availability between calls. During the same year, the company and cloud platform, Axeda, formed an alliance for global M2M solutions. Both companies collaborated with a focus on providing integrated solution to the customers to enable quick built and deployment of connected products.

The company completed the relocation of BAS facilities from the 1990 MHz to 2025 MHz spectrum band

Sprint Corporation History

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in the Los Angeles, California. In the same year, Sprint Nextel became the first major wireless carrier in the US to offer Femtocell for wholesale partners. During the same year, the company formed a new emerging solutions business unit with a focus on accelerating the delivery of machine-to-machine (M2M) and mobile computing solutions that are offered to consumers and businesses. In the same year, the company formed its small business specialty team to sharpen the company's focus on small business market segment.

The company and Service Electric Cable TV, a cable television and internet service provider, signed a two-year agreement for Sprint Nextel to provide enhanced communications support to Service Electric's field service teams.

Sprint Nextel acquired prepaid wireless provider Virgin Mobile USA for a total equity value of approximately $483 million.In 2009, Sprint Nextel acquired iPCS for approximately $831 million.

Rite Aid warned its shareholders that if the price of its stock does not improve, the company's shares could be delisted from the NYSE. The move would require Rite Aid to repurchase or refinance some of its debt (convertible notes), which could require additional financing.

The company introduced a free Rx Savings Card, which provides cost savings on over 10,000 prescription drugs and over 1,500 OTC medicines to patients with limited or no insurance.

The company introduced the first third-generation (3G)/4G dual-mode device, which operates on both the Sprint Nextel's 3G and 4G networks.The company introduced Sprint Secure (SM) Wide Area Network (WAN) Acceleration, a service that provides application acceleration and secure file access to remote offices for business-critical information.

Sprint Nextel and Samsung Electronics launched WiMAX service. Subsequently, the company, Cisco Systems and Ciena announced the implementation of 40 gigabits per second (Gbps) network capabilities on the Global Sprint tier-1 IP network using the technology, internet protocol over dense wavelength- division multiplexing (IPoDWDM).

Sprint Nextel completed the sale of approximately 3,080 towers to independent wireless tower company, TowerCo, in 2008.

Sprint Nextel and telecommunications operator, Clearwire, combined their next generation wireless broadband businesses to form new wireless communications company, Clearwire.

Sprint Nextel completed transition of BAS Facilities from 1995 MHz to 2025MHz spectrum band in Houston, Phoenix, Orlando, and Norfolk. The company expanded its relation with Google to integrate the Google applications and services into its mobile services.

Sprint Nextel and Motorola extended their long-term partnership, to provide enhanced network and infrastructure support, including software upgrades, and to provide the best products and services to customers. The two companies also signed a long-term leasing agreement for TowerCo to provide Sprint Nextel with wireless communications towers to support the company's code division multiple access (CDMA), iDEN and WiMAX networks.

Sprint Corporation History

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Sprint Nextel entered into a multi-year agreement with Amdocs, a provider of customer experience systems, for the delivery of Amdocs' software and services to support the launch and operations of Xohm, Sprint Nextel's mobile internet initiative. KPN International, a European provider of telecom services, partnered with Sprint Nextel to extend the availability of KPN's IP network solutions in the US and Canada. Subsequently, the company collaborated with Chinese telecommunication company, China Telecom, to enhance its global multiprotocol label switching (MPLS) capabilities for customers in China by interconnecting their IP virtual private network (VPN) networks.

The company opened a new business customer call center based in West Salem, Wisconsin.

Sprint Nextel selected Nokia, a Finnish communications and IT company as a key infrastructure and consumer electronic device provider for the company's fourth-generation (4G) worldwide interoperability of microwave access (WiMAX) next generation mobility network, in 2007. In the same year, the company acquired Northern PCS Services, a former affiliate, for $312.5 million. Subsequently,Sprint Nextel partnered with more than 30 companies worldwide to support Open Handset Alliance's free and open mobile applications platform named Android. During the same year, the company completed the transition of Broadcast Auxiliary Services (BAS) facilities from the 1990 MHz to 2025 MHz spectrum band in the Harrisburg, Pennsylvania market. Subsequently, MySpace, a social network, and Sprint Nextel formed a mobile web partnership.

Sprint Nextel spun off Embarq, its local telephone operations, to mainly focus on mobile communications and products and services.

Sprint Nextel formed an alliance with Qualcomm and Lucent Technologies to provide push-to-talk services with Qualcomm's QChat Solution to its customers. Subsequently, Microsoft and Sprint Nextel formed an alliance to collaborate on Mobile Search. Both companies also formed a strategic alliance to develop and deliver a range of new service offerings for Sprint Nextel's business and consumer customers.

Sprint Nextel acquired Enterprise Communications Partnership, a former PCS affiliate, for approximately $98 million including the assumption of debt. Subsequently, the company acquired Velocita Wireless, which owned and operated a nationwide digital packet-switched wireless data network and held licenses to use wireless spectrum in the 900 megahertz (MHz) band. Also, the company acquired Nextel Partners for approximately $6.5 billion.

Sprint and Nextel merged to form Sprint Nextel and started operations, in 2005. In the same year, the company acquired IWO Holdings, a former PCS affiliate, for approximately $427 million including the assumption of approximately $208 million of net debt.

iDEN services were offered nationwide in 1997. Nextel became the largest digital wireless provider in the US by end of 2000 and provided wireless services in more than 70 countries.

Nextel introduced Motorola's integrated digital enhanced network (iDEN) technology in 1996, marking the first combination of digital cellular, two-way radio and text/numeric paging in one phone.

Sprint Corporation History

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Nextel served all of the top 50 telecom markets in the US.

In 1994, Nextel merged with Dial Call and OneComm. In the same year, Nextel acquired all of Motorola's specialized mobile radio licenses in the US.

The company was renamed Nextel in 1993.

By late 1990s, Sprint built a nationwide personal communication services (PCS) network in the US.

Morgan O Brien founded a company called Fleet Net in 1987.

The company completed its nationwide digital fiber-optic network by 1986.

Sprint Corporation (Sprint or "the company") acquired a license for operations after the long distance telecommunications were liberalized in the early 1980s.

Sprint Corporation Key Employees

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Key Employees

KEY EMPLOYEES

Name Job Title Board Masayoshi Son Chairman Executive Board Raul Marcelo Claure Chief Executive Officer-President Executive Board Tarek Robbiati Chief Financial Officer Senior Management Roger Sole Chief Marketing Officer Senior Management Gunther Ottendorfer Chief Operating Officer-Technology Senior Management John Saw Chief Technology Officer Senior Management Gordon M. Bethune Director Non Executive Board Julius Genachowski Director Non Executive Board Michael G. Mullen Director Non Executive Board Sara Martinez Tucker Director Non Executive Board Patrick T. Doyle Director Non Executive Board Jaime Jones President, East Area Senior Management Kevin Crull President-Omnichannel Sales Senior Management Brandon Draper President-Sprint Prepaid Group Senior Management Doug Michelman Senior Vice President, Corporate

Communications and Corporate Social Responsibility

Senior Management

Jorge Gracia Senior Vice President, General Counsel and Chief Ethics Officer

Senior Management

Ismat Aziz Senior Vice President, Human Resources Senior Management Ronald D. Fisher Vice Chairman of the Board Non Executive Board

Sprint Corporation Key Employee Biographies

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Key Employee Biographies

KEY EMPLOYEE BIOGRAPHIES

Masayoshi Son

Board:Executive Board Job Title:Chairman Since:2013 Age:59

Masayoshi Son has been the Chairman of the Board at Sprint since 2013. Mr. Son is the Founder of the SoftBank Group and has been the Chairman and Chief Executive Officer at SoftBank Group since 1986. He serves in various capacities at SoftBank including the Chairman at SoftBank, the Japan based telecommunications operator. Mr. Son currently serves as a Director at Yahoo Japan. Earlier, he served as the Chairman at Yahoo Japan from 1996 to 2015. Mr. Son was the Chairman of the Broadband Association in Japan. He currently serves as a Director at Alibaba Group Holding.

Raul Marcelo Claure

Board:Executive Board Job Title:Chief Executive Officer-President Since:2014 Age:45

Raul Marcelo Claure has been the President and Chief Executive Officer at Sprint since 2014. Mr. Claure has been a Director at the company since 2014. He founded Brightstar in 1997 and served as its Chief Executive Officer. Mr. Claure serves as a Director at CTIA-The Wireless Association. He is a Member of the Board of Directors at My Brother’s Keeper Alliance.

Tarek Robbiati

Board:Senior Management Job Title:Chief Financial Officer Since:2015

Tarek Robbiati has been the Chief Financial Officer at Sprint since 2015. Mr. Robbiati served as the Chief Executive Officer and a Managing Director at FlexiGroup from 2013 to 2015. Previously, he was the Group Managing Director and Regional President at Telstra International Group. Mr. Robbiati served as the Executive Chairman at Hong Kong CSL. He was the Deputy Chief Financial Officer at Telstra from 2005 to 2007. Mr. Robbiati served as the Vice President and Head of Corporate Finance at Orange PCS from 2003 to 2005. Earlier, he served as the Vice President and a Senior Equity Research Analyst at Lehman Brothers from 1999 to 2003. Mr. Robbiati was also a Strategy Consultant and Senior Manager at Accenture and Sophia Antipolis.

Sprint Corporation Key Employee Biographies

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Roger Sole

Board:Senior Management Job Title:Chief Marketing Officer Since:2016 Age:42

Roger Sole has been the Chief Marketing Officer at Sprint since 2016. Mr. Sole served as the Senior Vice President for the Hispanic Market and the Senior Vice President of Innovation at Sprint. Previously, he served as the Chief Marketing Officer at TIM Brasil.

Gunther Ottendorfer

Board:Senior Management Job Title:Chief Operating Officer-Technology Since:2015

Gunther Ottendorfer has been the Chief Operating Officer of Technology at Sprint since 2015. Mr. Ottendorfer was a Founding Member at max.mobil. He served as the Chief Operating Officer and Chief Technology Officer at T-Mobile Austria and the Chief Technology Officer at T-Mobile Germany and as the European Technology Director at Group level at T-Mobile International. Later, Mr. Ottendorfer was the Managing Director of Networks at Optus Singtel. He served as the Group Chief Technology and Information Officer at Telekom Austria Group.

John Saw

Board:Senior Management Job Title:Chief Technology Officer Since:2015 Age:54

John Saw has been the Chief Technology Officer at Sprint since 2015. Mr. Saw served as the Chief Network Officer at the company. Before that, he was the Chief Technology Officer at Clearwire. Prior to Clearwire, Mr. Saw served as the Senior Vice President and General Manager of Fixed Wireless Access at Netro. He was the Chief Engineer and Vice President of Engineering at AT&T wireless. Previously, Mr. Saw worked at Nortel and Bell Northern Research.

Gordon M. Bethune

Board:Non Executive Board Job Title:Director Since:2004 Age:74

Gordon M. Bethune has been a Director at Sprint since 2004. Mr. Bethune retired as the Chairman and Chief Executive Officer at Continental Airlines. He previously served as the Chief Executive Officer at

Sprint Corporation Key Employee Biographies

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Continental Airlines from 1994 and as the Chairman and Chief Executive Officer from 1996 until 2004. He is a Director at Honeywell International and Prudential Financial. He previously served as a Director at Willis Group Holdings.

Julius Genachowski

Board:Non Executive Board Job Title:Director Since:2015 Age:54

Julius Genachowski has been a Director at Sprint since 2015. Mr. Genachowski currently serves as a Managing Director at the Carlyle Group. He was the Chairman at the U.S. Federal Communications Commission (FCC) from 2009 to 2013. Mr. Genachowski held various senior executive positions at IAC. He is a Senior Fellow at the Aspen Institute. Mr. Genachowski is currently a Member of the President's Intelligence Advisor and a Director at Mastercard.

Michael G. Mullen

Board:Non Executive Board Job Title:Director Since:2013 Age:69

Michael G. Mullen has been a Director at Sprint since 2013. Mr. Mullen serves as the Security Director under the National Security Agreement between Sprint, SoftBank, the Department of Justice, the Department of Homeland Security, and the Department of Defense. Previously, he served as the 28th Chief of Naval Operations from 2005 to 2007. Mr. Mullen serves as a Director at General Motors.

Sara Martinez Tucker

Board:Non Executive Board Job Title:Director Since:2013 Age:61

Sara Martinez Tucker has been a Director at Sprint since 2013. Ms. Tucker served as the Under Secretary at the US Department of Education from 2006 to 2008. Previously, she was the Chief Executive Officer and President at the Hispanic Scholarship Fund from 1997 to 2006. Ms. Tucker served as the Regional Vice President of Global Business Communications Systems at AT&T. She currently serves as a Director at American Electric Power, and Xerox.

Patrick T. Doyle

Board:Non Executive Board Job Title:Director

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Patrick T. Doyle currently serves as a Director at Sprint. Mr. Doyle served as the Chief Financial Officer at DIRECTV from 2007 until DIRECTV’s acquisition by AT&T in 2015. He served as the Chief Accounting Officer, Controller, and Treasurer during his tenure at DIRECTV, which began in 2000. Previously, Mr. Doyle served at Baker Hughes. Prior to that, he served for four years at the public accounting firm of Deloitte & Touche.

Jaime Jones

Board:Senior Management Job Title:President, East Area

Jaime Jones currently serves as the President of East Area at Sprint. Before being named to this role, Mr. Jones served as President of the South Area, overseeing 10 states. Previously, he served as the Senior Vice President for the general business and public sector organizations and held various Vice President Roles at the area, regional and national levels for local, emerging and mid-markets and general business units. He held various management and operations roles at Siemens Communications and Harris/3M- Central Penn Office Products.

Kevin Crull

Board:Senior Management Job Title:President-Omnichannel Sales

Kevin Crull currently serves as the President of Omnichannel Sales at Sprint. Prior to his new role, Mr. Crull was the President of the Central and Northeast US. He was the Chief Marketing Officer at the company. He served as the President at Bell Media. Prior to Bell Media, Mr. Crull was the President of the Bell Residential Services, the consumer telecommunications company. Previously, he led the consumer and small-business sales and marketing at AT&T and also served as the Senior Vice President and General Manager at AT&T's wireless initiatives. Mr. Crull held various positions at US West/Qwest Communications including as an Executive and a Senior Vice President. Earlier, he worked at Nestle US.

Brandon Draper

Board:Senior Management Job Title:President-Sprint Prepaid Group

Brandon Draper currently serves as the President of Sprint Prepaid Group at Sprint. Prior to this role, Mr. Draper served as the President of Sprint’s Wholesale & Prepaid Services. Previously, he was the Senior Vice President and General Manager of Retail at Clearwire. Before joining Clearwire, he held various roles at Alltel Wireless, including as the Senior Vice President of Device and Data Services and Senior Vice President of Financial Planning and Analysis. Mr. Draper also held various roles at Western Wireless and McKinsey.

Doug Michelman

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Board:Senior Management Job Title:Senior Vice President, Corporate Communications and Corporate Social Responsibility

Doug Michelman currently serves as the Senior Vice President, Corporate Communications and Corporate Social Responsibility at Sprint. Mr. Michelman served as the Chief Communications Officer at Visa for 10 years. Prior to that, he held various positions at Fleishman Hillard, including the Regional President and Senior Partner.

Jorge Gracia

Board:Senior Management Job Title:Senior Vice President, General Counsel and Chief Ethics Officer

Jorge Gracia currently serves as the Senior Vice President, General Counsel and Chief Ethics Officer at Sprint. Mr. Gracia has 25 years of experience in international corporate law, most recently at Samsung Electronics America, where he served as the Senior Vice President and General Counsel. He previously spent 17 years at Alcatel-Lucent.

Ismat Aziz

Board:Senior Management Job Title:Senior Vice President, Human Resources

Ismat Aziz currently serves as the Senior Vice President of Human Resources at Sprint. Before joining Sprint, Ms. Aziz served as the Senior Vice President of Human Resources at Sam’s Club. She served as the Senior Vice President of business capability and human resources at Sears Canada; Vice President of human resources at MDS Pharmaceuticals in the US; as well as Vice President human resources and communications/Chief Privacy Officer at Corby Distilleries.

Ronald D. Fisher

Board:Non Executive Board Job Title:Vice Chairman of the Board Since:2013 Age:68

Ronald D. Fisher has been the Vice Chairman of the Board at Sprint since 2013. Mr. Fisher also serves as the Executive Chairman of SoftBank Group International. He joined SoftBank in 1995, overseeing its operations in the US and its other activities outside Asia, and was the Founder at SoftBank Capital. Prior to joining SoftBank, he was the Chief Executive Officer at Phoenix Technologies from 1990 to 1995. Mr. Fisher joined Phoenix from Interactive Systems, which was purchased by the Eastman Kodak Company in 1988. At Interactive Systems, he served for five years as the President, initially as the Chief Operating Officer and then as the Chief Executive Officer. He previously served as a Director at E*Trade Financial and GSI Commerce.

Sprint Corporation Major Products & Services

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Major Products & Services

MAJOR PRODUCTS & SERVICES

Sprint Corporation (Sprint or "the company") is a communications services company engaged in offering a range of wireless and wireline communications products and services to consumers, businesses, government subscribers and resellers. The company's key services and brands include the following:

Services

Wireless services Wireline services Voice services Data services Internet services Email services Wireless photo and video offerings Mobile entertainment applications Dispatch services Navigation tools Voicemail Three-way calling Directory assistance Handsets Hotspots Domestic data communications International data communications IP services

Brands

DataLink Boost Mobile Virgin Mobile Assurance Wireless

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SWOT Analysis

SWOT ANALYSIS

Sprint Corporation (Sprint or "the company") is a communications services company engaged in offering a range of wireless and wireline communications products and services to consumers, businesses, government subscribers and resellers. Sprint is the third largest telecom provider in the US with large subscriber base, network and spectrum, which will enable it to tap into the emerging opportunities. However, the impending saturation and limited availability of spectrum will impact Sprint's growth prospects.

Strength

Fourth Largest Telecom Provider in the US Robust Wireless Spectrum Holdings

Weakness

Declining ARPU High Debt

Opportunity

Strong Outlook for High-Bandwidth Mobile Communications Rising Demand for the Smartphones One Sprint Strategy

Threat

High Penetration Rates in Wireless Segment Intense Competition in the Wireless Telecom Market Changes in Regulations May Affect Business Prospects

Strength

Fourth Largest Telecom Provider in the US

Sprint enjoys significant market position in the US telecom market. The company is the fourth largest wireless communication provider in the US market based on wireless revenue. The company is also one of the largest providers of wireline long distance services, and one of the largest internet carriers in the US. While its competitors AT&T and Verizon are considerably large companies, Sprint although significantly smaller in size has a large addressable market. The company by the end of FY2016 had 58.8 million wireless subscribers of which 30.9 million were postpaid, 14.4 million were prepaid subscribers, and 13.4 million were wholesale and affiliates subscribers. The company is also among the few telecom companies that enjoy a nationwide wireless network. The company was able to maintain the nationwide reach by not only operating its own digital network but also by entering into commercial agreements with third party affiliates. Additionally to enhance its reach, Sprint offers roaming on other providers' networks. The company also has access to spectrum licenses across the US. Additionally, the company has a strong base to implement new strategies to enhance revenues and profitability. Its large subscriber base, network and spectrum will enable Sprint to tap into the emerging opportunities.

Robust Wireless Spectrum Holdings

The company holds robust spectrum holdings and holds more spectrum capacity than any other carriers in the US. Sprint with holdings of 204 MHz of spectrum has more spectrum capacity than Verizon, AT&T

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and T-Mobile. Sprint’s LTE Plus Network leverages three spectrum bands 1.9GHz for broad coverage, 800MHz for better indoor service, and 2.5GHz for faster data speeds. In addition, the company holds 160 MHz of 2.5 GHz spectrum in the top 100 US markets. Moreover, Sprint spectrum holding is TDD-LTE (Time Division Duplex), which is currently used in data-centric formats such as Wi-Fi, and the TDD-LTE spectrum bands are principal candidates for future 5G formats.

Moreover, the company uses advanced wireless technologies such as carrier aggregation and antenna beamforming to enhance the customer reach. Carrier aggregation allows to bond multiple spectrum channels together to build a fatter pipe, while beamforming is a signal processing technique that directs signals from multiple antennas towards customers. In the wake of growing demand for data services coupled with the arrival of gigabit LTE and 5G technology, the type and amount of spectrum becomes a differentiator. Thus, the company’s robust wireless spectrum holdings is a strategic strength, which will enable it to increase its market share and topline.

Weakness

Declining ARPU

Sprint witnessed as significant decline in its average revenue per user (ARPU) per month during 2014-16. The company's postpaid ARPU declined from $63.5 in FY2014 to $51.7 in FY2016 representing a compound annual rate change (CARC) of 10% during the same period. Further, the total retail ARPU of the company declined at a CARC of 9% during 2014-16 from $62.9 in FY2014 to $51.6 in FY2016. The decline in postpaid ARPU was attributed to growth in sales of tablets, which carry a lower revenue per subscriber combined with the impact of subscriber migration to many of the company's new service plans, resulting in lower service fees. Declining ARPU would further put pressure on Sprint's profitability.

High Debt

Sprint is highly leveraged. At the end of FY2016, the company's consolidated principal amount of indebtedness was $29.3 billion. Due to the high, debt, Sprint incurred interest expenses of $2,182 million in FY2016. The company's high debt levels and debt service requirements are significant in relation to its revenues and cash flow, which may reduce Sprint's ability to respond to competition and economic trends in the industry or in the economy. In addition, the company has high interest rate risk. According to the company, a 10% decline in market interest rates is estimated to result in a $1.2 billion increase in the fair market value of its debt to $29.9 billion. High debt limits the company's ability to raise further capital to fund its growth. Additionally, the company also has high debt servicing obligations making its cash flows highly vulnerable further impacting its ability to fund growth internally. High outstanding debt increases the company's financial risk.

Opportunity

Strong Outlook for High-Bandwidth Mobile Communications

The US mobile broadband market had grown strongly over the historical period and is expected to

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continue growing in the coming periods. The growth in mobile broadband is primarily attributable to the high data consumption by mobile devices, including smartphones and tablets. According to industry estimates, the global mobile data traffic is projected to grow at a compound annual growth rate (CAGR) of 47% during 2016-21 periods. The mobile data traffic will reach 49 Exabytes per month by 2021 up from 7.2 Exabytes per month in 2016.

Sprint has robust network infrastructure to support the growing demand for high-bandwidth mobile communications. The company is in the process of modernizing its network to allow the consolidation and optimization of its 800 MHz, 1.9 GHz and 2.5 GHz spectrum into its base stations. Moreover, the company has received its replacement spectrum in the 800 MHz band and Sprint is deploying 3G CDMA and 4G LTE on this spectrum in combination with its spectrum in the 1.9 GHz and 2.5 GHz bands. The company can leverage its leadership position in the wireless market to further drive ARPUs by tapping into the trend of growing mobile traffic.

Rising Demand for the Smartphones

Sprint will benefit from the rising demand for smartphones in the US. The global smartphones market has been growing robustly over the past few years and is expected to grow consistently in the coming periods. According to industry estimates, the worldwide smartphone shipments are expected to reach 1,530 million units in 2017. Furthermore, the shipments are expected to grow at a CAGR of 4% during 2017-21 periods to reach 1,770 million units by 2021. With a range of smartphones, Sprint is well poised to exploit the demand for these data intensive mobile devices which will enable the company to enhance revenues.

One Sprint Strategy

The company's One Sprint strategy is expected to be enhance its growth prospects. Sprint is in the midst of rolling out its One Sprint business plan. In a centralized operating model, decisions are made at a company headquarters and implemented in the same way across the country. In the ONE Sprint model, the company plans to decentralize its decision makings by placing individuals in charge of 19 key cities. This provides an opportunity to fuel growth and improve Sprint's performance by reorganizing leadership to be closer to customers and their needs. The rollout of the strategy is based on the company’s successful efforts in the Chicago market. As part of the strategy, Sprint plans to split its US operations into four regions, including West, Central, South and Northeast. The company will target market with teams from postpaid, prepaid, enterprise and general business all calling on customers in the same area. Thus, the One Sprint strategy is expected to enhance the company’s growth prospects in the medium to long term.

Threat

High Penetration Rates in Wireless Segment

The wireless markets in the US are saturated. Most markets in which the company operates have high rates of penetration for wireless services, thereby limiting the growth of subscribers of wireless services. As the wireless market has matured, it has become increasingly important to retain existing subscribers in

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addition to attracting new subscribers, particularly in less saturated growth markets such as those with non-traditional data demands. Wireless carriers also try to appeal to subscribers by offering certain devices at prices lower than their acquisition cost. As the wireless industry continues to mature, the future wireless growth will increasingly depend on Sprint's ability to offer innovative data services to customers, which in turn, will depend on the availability of additional spectrum. The spectrum and capacity constraints will increase in the coming years as mobile data traffic increases at a robust pace. While Sprint continues to invest significant capital in expanding its network capacity, the capacity constraints could affect the quality of existing voice and data services and the ability to launch new, advanced wireless broadband services. Any spectrum solution will require that the Federal Communications Commission (FCC) makes new spectrum available to the wireless industry and allow the company to obtain the spectrum it needs more immediately to meet the needs of its customers. The impending saturation and limited availability of spectrum will impact Sprint's growth prospects.

Intense Competition in the Wireless Telecom Market

The company faces substantial and increasing competition in all aspects of its wireless business. Sprint has multiple wireless competitors in each of its service areas and competes for customers based principally on service/device offerings, price, call quality, coverage area and customer service. The company's competitors include companies such as Verizon Wireless, AT&T, T-Mobile USA, Level 3 Communications and CenturyLink, as well as various regional wireless services providers. In addition, Sprint faces competition from providers that offer voice, text messaging and other services as applications on data networks. Moreover, the US wireless industry is expected to witness price competition in the coming years. All the players in the US telecoms space have either introduced new plans or cut prices to poach subscribers in an increasingly saturated postpaid market.

Increasing competition coupled with impending price competition will continue to put pressure on pricing and margins as companies compete for potential customers.

Changes in Regulations May Affect Business Prospects

The company's domestic operations are subject to regulation by the FCC and other federal, state and local agencies. These regulatory regimes frequently restrict the company's ability to operate in or provide specified products or services in designated areas and require the company to maintain licenses for its operations. Also, the FCC grants wireless licenses for terms generally lasting 10 years that are subject to renewal. The loss of, or a material limitation on, certain of the company's licenses could have a material adverse effect on its wireless business, results of operations and financial condition. Moreover, the development of new technologies, such as IP-based services, including voice over internet protocol (VoIP) and super high-speed broadband and video, could be subject to conflicting regulation by the FCC and various state and local authorities, which could significantly increase the cost of implementing and introducing new services based on this technology.

Moreover, as a precondition to approval of the SoftBank Merger, CFIUS required that SoftBank and Sprint enter into a National Security Agreement (NSA). These provisions increase the cost of compliance with security measures, and limit Sprint's control over certain US facilities, contracts, personnel, vendor selection and operations, which may materially affect its operating results. Furthermore, any new regulations could restrict the company's ability to compete in the marketplace and limit the return it can

Sprint Corporation SWOT Analysis

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expect to achieve on past and future investments. Changes in the regulatory framework under which the company operates could adversely affect its business prospects or results of operations.

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Top Competitors

TOP COMPETITORS

The following companies are the major competitors of Sprint Corporation

AT&T Inc. Level 3 Communications, Inc. T-Mobile US, Inc. Verizon Communications Inc.

Sprint Corporation Company View

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Company View

COMPANY VIEW

An excerpt from the Management's Discussion and Analysis of Financial Condition and Results of Operations section is given below. The statement has been taken from the company's 10-K filing for FY2016.

Business Overview Sprint is a communications company offering a comprehensive range of wireless and wireline communications products and services that are designed to meet the needs of individual consumers, businesses, government subscribers, and resellers. Unless the context otherwise requires, references to "Sprint," "we," "us," "our" and the "Company" mean Sprint Corporation and its consolidated subsidiaries for all periods presented, inclusive of Successor and Predecessor periods, and references to "Sprint Communications" are to Sprint Communications, Inc. and its consolidated subsidiaries. Wireless segment earnings represented almost all of our total consolidated segment earnings for the year ended March 31, 2016. Within the Wireless segment, postpaid wireless service revenue represents the most significant contributor to earnings, and is driven by the number of postpaid subscribers to our services, as well as the average revenue per user (ARPU).

Strategies and Key Priorities

Our business strategy is to be responsive to changing customer mobility demands of existing and potential customers, and to expand our business into new areas of customer value and economic opportunity through innovation and differentiation. To help lay the foundation for these future growth opportunities, our strategy revolves around targeted investment, in the following key priority areas: • Provide a network that delivers the consistent reliability, capacity and speed that customers demand; • Achieve a more competitive cost position in the industry through simplification; • Increase subscriber acquisition and retention and reduce churn; • Create an alternative financial structure to fuel growth and maximize shareholder value; • Attract and retain the best talent in the industry; and • Deliver a simplified and improved customer experience. To achieve these key priorities we are focusing on the following initiatives. To provide a network that delivers the consistent reliability, capacity and speed that customers demand, we expect to continue to optimize our 3G data network and invest in LTE deployment across all of our spectrum bands. We also expect to deploy new technologies that will help strengthen our competitive position, including the expected use of Voice over LTE, more extensive use of Wi-Fi and the use of small cells to further densify our network.

To achieve a more competitive cost position, we have established an Office of Cost Management with

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responsibility for identifying, operationalizing, and monitoring sustained improvements in operating costs and efficiencies. Also, we have deployed new cost management and planning tools across the entire organization to more effectively monitor expenditures.

We are focused on attracting and retaining subscribers by improving our sales and marketing initiatives. We have expanded our direct retail store presence through our relationship with RadioShack, as well as our Direct to You service that brings the Sprint store experience to our customers. We have demonstrated our value proposition through our new price plans, promotions, and payment programs and have deployed new local marketing and civic engagement initiatives in key markets.

Our alternative financial structure consists of transactions that leverage our assets such as the Handset Sale-leaseback Tranche 1 we entered into in November 2015 and the Network Equipment Sale- Leaseback, Handset Sale-Leaseback Tranche 2 and new unsecured financing facility we recently executed, described in more detail in "Liquidity and Capital Resources." In addition, we continue to identify other funding sources such as the potential monetization of certain spectrum holdings or certain real estate. In addition, with the Office of Cost Management, we have commenced major cost cutting initiatives to reduce operating expenses and improve our operating cash flows.

We seek to build a stronger management team by attracting new outside talent with world class experience and credentials while retaining selected members of the incumbent management team. We recently began operating in a regional model that will put key leadership closer to customers and allow us to better serve them in four geographic areas which are comprised of seventeen regions.

To deliver a simplified and improved customer experience, we are focusing on key subscriber touch points, pursuing process improvements and deploying platforms to simplify and enhance the interactions between us and our customers. In addition, we have established a Customer Experience Office to support our focus on net promoter score as our key measure in customer satisfaction. Network

We will continue to take advantage of our deep spectrum position to deploy our 4G LTE Plus network. LTE Plus is currently available in over 200 markets leveraging carrier aggregation and beamforming for better data performance. Our deep 2.5GHz holdings will allow us to dedicate spectrum to deploy 60MHz wide channels for even faster data speeds. We plan to densify the network through the use of small cell technology, femto cells, in-building solutions and repeaters as well as continuing to use traditional macro sites. This approach builds the foundation for deployment of 5G wireless technology in the future while continuing to enhance the customer experience by adding data capacity, increasing the wireless data speeds available to our customers and improving network coverage for both voice and data services. As we continue to refine our network strategy and evaluate other potential network initiatives, we may incur future material charges associated with lease and access exit costs, loss from asset dispositions or accelerated depreciation, among others.

Shentel Transaction

On August 10, 2015, Shenandoah Telecommunications Company (Shentel) entered into a definitive agreement to acquire one of our wholesale partners, NTELOS Holdings Corp (nTelos). In connection with this definitive agreement, we entered into a series of agreements with Shentel, subject to regulatory

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approval, to, among other things, acquire certain assets such as spectrum, terminate our existing wholesale arrangement with nTelos, and amend our existing affiliate agreement with Shentel to include, among other things, the subscribers formerly under the wholesale arrangement with nTelos. The agreements will also expand the area in which Shentel provides wireless service to Sprint customers and will provide for more favorable economic terms. In April 2016, we received regulatory approval and the transaction was closed in May 2016. The total consideration for this transaction included approximately $195 million, on a net present value basis, of notes payable to Shentel. Sprint will satisfy its obligations under the notes payable over an expected term of five to six years. Approximately $110 million of the total purchase price will be recorded as a loss in the quarter ended June 30, 2016, which related to the termination of our pre-existing wholesale arrangement with nTelos.

RESULTS OF OPERATIONS

On July 9, 2013, Sprint Nextel Corporation (Sprint Nextel) completed the acquisition of the remaining equity interests in Clearwire Corporation and its consolidated subsidiary Clearwire Communications LLC (together "Clearwire") that it did not previously own (Clearwire Acquisition) in an all cash transaction. On July 10, 2013, SoftBank Corp., which subsequently changed its name to SoftBank Group Corp., and certain of its wholly-owned subsidiaries (together, "SoftBank") completed the merger (SoftBank Merger) with Sprint Nextel contemplated by the Agreement and Plan of Merger, dated as of October 15, 2012 (as amended, the Merger Agreement), and the Bond Purchase Agreement, dated as of October 15, 2012 (as amended, the Bond Agreement). As a result of the SoftBank Merger, Starburst II became the parent company of Sprint Nextel. Immediately thereafter, Starburst II changed its name to Sprint Corporation and Sprint Nextel changed its name to Sprint Communications, Inc.

As a result of these transactions, the assets and liabilities of Sprint Communications and Clearwire were adjusted to estimated fair value on the respective closing dates. The Company's financial statement presentations distinguish between the predecessor period (Predecessor) relating to Sprint Communications for periods prior to the SoftBank Merger and the successor period (Successor) relating to Sprint Corporation, formerly known as Starburst II, for periods subsequent to the incorporation of Starburst II on October 5, 2012. The Successor financial information includes the activity and accounts of Sprint Corporation, which includes the activity and accounts of Starburst II prior to the close of the SoftBank Merger on July 10, 2013 and Sprint Communications, inclusive of the consolidation of Clearwire Corporation, prospectively following completion of the SoftBank Merger, beginning on July 11, 2013 (Post-merger period). The accounts and operating activity of Starburst II prior to the close of the SoftBank Merger primarily related to merger expenses that were incurred in connection with the SoftBank Merger (recognized in selling, general and administrative expense) and interest related to the $3.1 billion Bond Sprint Communications, Inc. issued to Starburst II. The Predecessor financial information represents the historical basis of presentation for Sprint Communications for all periods prior to the SoftBank Merger.

As a result of the SoftBank Merger, and in order to present Management's Discussion and Analysis in a way that offers investors a more meaningful period to period comparison, in addition to presenting and discussing our historical results of operations as reported in our consolidated financial statements in accordance with accounting principles generally accepted in the United States (U.S. GAAP), we have combined the 2013 Predecessor financial information with the 2013 Successor financial information, on an unaudited combined basis (Combined). The unaudited Combined data consists of Predecessor information for the 191-day period ended July 10, 2013 and Successor information for the year ended

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December 31, 2013. The Combined information for the year ended December 31, 2013 does not comply with U.S. GAAP and is not intended to represent what our consolidated results of operations would have been if the Successor had actually been formed on January 1, 2013 and acquired the Predecessor as of such date, nor have we made any attempt to either include or exclude expenses or income that would have resulted had the SoftBank Merger actually occurred on January 1, 2013.

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Locations And Subsidiaries

LOCATIONS AND SUBSIDIARIES

Head Office

Sprint Corporation 6200 Sprint Pkwy OVERLAND PARK Kansas OVERLAND PARK Kansas USA Phone:1 855 8483280 investors.sprint.com

Other Locations and Subsidiaries

Alamo 10010 San Pedro Avenue Suite 700 San Antonio Texas San Antonio Texas USA

Alamosa Missouri Properties, LLC Missouri USA

Alamosa Wisconsin GP, LLC Wisconsin USA

Atlanta MDS Co., Inc Georgia USA

Bright Personal Communications Services, LLC Ohio USA

Los Angeles MDS Company, Inc. USA

Southwest PCS, L.P. Oklahoma USA

Texas Telecommunications, LP Texas USA

Washington Oregon Wireless, LLC Oregon USA

Wireline Leasing Co., Inc. Delaware USA

A Progressive Digital Media business

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