Kurt Fawkes Vice President Investor Relations, Sprint

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2 Kurt Fawkes Vice President Investor Relations, Sprint

3 Cautionary Statement Cautionary Statement This presentation includes forward-looking statements within the meaning of the securities laws. The statements in this presentation regarding the business outlook, expected performance, forward looking guidance, continuation of our previously announced share buy-back program, as well as other statements that are not historical facts, are forward-looking statements. The words "estimate," "project," forecast, "intend," "expect," "believe," "target," providing guidance and similar expressions are intended to identify 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, customer and network usage, customer growth and retention, pricing, operating costs, the timing of various events and the economic environment. Future performance cannot be assured. Actual results may differ materially from those in the forward-looking statements. Some factors that could cause actual results to differ include: the effects of vigorous competition, including the impact of competition on the price we are able to charge customers for services we provide and our ability to attract new customers and retain existing customers; the overall demand for our service offerings, including the impact of decisions of new subscribers between our post-paid and prepaid services offerings and between our two network platforms; and the impact of new, emerging and competing technologies on our business; the impact of overall wireless market penetration on our ability to attract and retain customers with good credit standing and the intensified competition among wireless carriers for those customers; the potential impact of difficulties we may encounter in connection with the integration of the pre-merger Sprint and Nextel businesses, and the integration of the businesses and assets of Nextel Partners, Inc. and the PCS Affiliates that we have acquired, including the risk that these difficulties could prevent or delay our realization of the cost savings and other benefits we expect to achieve as a result of these integration efforts and the risk that we will be unable to continue to retain key employees; the uncertainties related to the implementation of our business strategies, investments in our networks, our systems, and other businesses, including investments required in connection with our planned deployment of a next generation broadband wireless network; the costs and business risks associated with providing new services and entering new geographic markets, including with respect to our development of new services expected to be provided using the next generation broadband wireless network that we plan to deploy; the impact of potential adverse changes in the ratings afforded our debt securities by ratings agencies; the effects of mergers and consolidations and new entrants in the communications industry and unexpected announcements or developments from others in the communications industry; unexpected results of litigation filed against us; the inability of third parties to perform to our requirements under agreements related to our business operations, including a significant adverse change in Motorola, Inc. s ability or willingness to provide handsets and related equipment and software applications, or to develop new technologies or features for our iden, network; the impact of adverse network performance; the costs of compliance with regulatory mandates, particularly requirements related to the Federal Communications Commission s Report and Order; equipment failure, natural disasters, terrorist acts, or other breaches of network or information technology security; one or more of the markets in which we compete being impacted by changes in political or other factors such as monetary policy, legal and regulatory changes or other external factors over which we have no control; and other risks referenced from time to time in our filings with the Securities and Exchange Commission, including our Form 10-K for the year ended December 31, 2006, in Part I, Item 1A, Risk Factors.

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5 Gary Forsee Chairman and CEO, Sprint

6 Sprint Nextel Corporation

7 Computers in the future may weigh no more than 1.5 tons. Popular Mechanics, forecasting the relentless march of science, 1949

8 But what is it good for? Engineer at the Advanced Computing Systems Division of IBM, 1968, commenting on the microchip

9 We don t like their sound, and guitar music is on the way out. Decca Recording Co., rejecting the Beatles, 1962

10 More than wireless Pivot expands reach of mobility services VoIP supports 2 million + cable customers IP investments expand mobile convergence

11 EV-DO Rev. A surpasses 200 million POPs Bridging wireless networks through PowerSource CDMA iden

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13 WiMAX: The Anywhere Internet

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17 Barry West President 4G Business Unit, Sprint

18 Two Mega Trends are Driving Growth Wireless Driving Growth > x Growth In Total Usage Growth Coming from Wireless Wireless Voice Minutes Traditional Wireline Voice Minutes Broadband Driving Growth The Wireless Broadband service will not only capture a portion of these Broadband subscribers, it will expand the current revenue opportunity Narrowband Subscribers Broadband Subscribers E 2007E 2008E 2009E 2010E

19 1992 -> x Growth In Total Usage Growth Coming from Wireless E 2007E 2008E 2009E 2010E Next Evolution of Internet Access Wireless Driving Growth Wireless Voice Minutes Traditional Wireline Voice Minutes 1G 2G 3G Cellular Voice + Pictures Music Business Apps Evolution centered around VOICE The mobile phone functions as the Swiss Army Knife of Devices Broadband Driving Growth Narrowband Subscribers Broadband Subscribers Broadband IP Connectivity (Internet) High throughput, alwayson access to content rich applications and services Dial-Up Fixed Broadband Mobile Internet Evolution Centered Around THE INTERNET

20 More Capacity at Less Cost 2.5 GHz provides a balance between coverage and capacity Sprint s spectrum holdings allow deployment of large 10 or 20MHz channels without the inefficiencies of guardbands and multiple smaller channels Flatter architecture, IP network and Internet cost model provides lower-cost hardware More than a 10X cost/performance savings

21 Speed AND Capacity Define Performance Traditional Wireless Broadband Networks Optimized for Voice and Narrowband Data Next Generation Wireless Broadband Networks Enabling Wide Range of Applications

22 700 MHz vs. 2.5 GHz Interference occurs between these cochannel cells Interference increases as distance between cochannel cells decreases Lower reuse Higher reuse 1. Sprint s 2.5 GHz licenses allow for higher throughput and capacity 2. Two to three times as many sites required for initial coverage at 2.5 GHz compared to 700 MHz to 15 sites required at 700 MHz for the same capacity as one Sprint site at 2.5 GHz 4. FDD at 700 MHz is not finalized in any standard and product availability is unlikely before Low cost WiMAX 2.5 GHz chipsets expected in International roaming expected at 2.5 GHz; 700 MHz roaming uncertain

23 Embedded Model: Changing the Subsidy Paradigm Traditional Wireless The device is the customer The carrier subsidizes the device and manages the supply chain Contracts and cancellation penalties are required to recoup the subsidy Mobile Internet Embedded mobile broadband Device optimized on a particular use Customer buys the devices from their retail store at non-subsidized retail prices Freedom to purchase a subscription, ad hoc usage, or a particular service

24 Early 2008 Baltimore Washington DC Chicago 2008 Boston Providence New York Philadelphia Pittsburgh Cleveland Cincinnati Detroit St. Louis Kansas City Dallas Austin San Antonio Phoenix Las Vegas Los Angeles San Diego Tampa Top U.S. Markets by end of 2008 States in blue have at least one Sprint launch metro area Map represents only the main metro areas and is not a complete depiction of the coverage. The plan is subject to change. 100M POPs covered by YE 2008 include coverage by Sprint and Clearwire Madison Milwaukee Orlando Cape Coral West Palm Beach Miami Tucson Oklahoma City Tulsa Wichita Lansing Columbus Richmond Virginia Beach Toledo

25 Product and Services Roadmap Gaming / Community Robust API s Video Monitoring Low Latency Throughput Security Advertising Engine Table Stakes Devices Presence Device Mngt & Rendering Content Interactive, Integrated Comm. Optimized Visual Content Delivery Differentiators Location Local Content Friend Finder Remote Office 2008 Stationary VoIP Video Chat Access Plans In-Car Entertainment Mobile/Location Advertising 2009 & Beyond Campus Solutions, Healthcare, Real Estate Video Conferencing

26 The WiMAX Ecosystem Network / Infrastructure Infrastructure: Motorola, Nokia, Samsung Implementation: Alcatel Lucent, Ericsson Sales, Distribution, Care & Billing Sprint Sales, Retail, OEMs, others; Amdocs, IBM WiMAX Ecosystem Services, Applications & Content Providers: Sprint, IBM, Google Subscriber Equipment Samsung, Nokia, ZyXEL, ZTE, Intel, and PC OEMs Traditional UMPCs Laptops Cameras Portable Music Gaming Inventory Tracking Telematics Video Recorders Navigation Corporate Intranet Remote Surveillance Field Programming Apps Video Chat & Blog Video Conf Movies Home Monitoring Music Videos Gaming

27 3 Imperatives For Mobile Internet 1Innovation in Distribution: Chipsets: Single chip WiFi + WiMAX Devices: Embed chipsets in mass market laptops and consumer electronic devices Innovation Multimedia Solutions Visual Centric, Interactive, Personal Broadband 2 Distribution: Leverage consumer electronics sales distribution channels $$ 3 Affordable Service Pay as You Go, Pre-paid, or Monthly Subscription

28 WiMAX has Global Momentum Clearwire MVS Inukshuk Sprint Orbitel *Yankee Group, presented at WiMax Asia, April 2007 ** Informa Telecoms & Media, March 2007 Movilnet TVA BT Bolloré MAXX onair TMN CTL Pipex Worldmax Neo-Sky TELECOM Italia WATANIYA RELIANCE GloComm Beeline China unicom China Mobile SK Telecom KT NTT DoCoMo BHARAT SANCHAR NIGAM LTD. KDDI SoftBank Mobile-8 AUSTAR Unwired Telecom

29 The Mobile Internet Advantage Embedded Devices The customer gets more choice at lower cost and with greater ease-of-use Performance Enables mass market use of high bandwidth applications with a much better user experience Mobility Access to applications and content when and where you need it

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31 Place presentation title here Kathy Walker Chief Network Officer, Sprint

32 Sprint is delivering SprintSpeed today across its three premier networks Global IP Network

33 Sprint is delivering SprintSpeed today across its three premier networks Global IP Network IP CDMA/EV-DO iden

34 Convergence of products and services Wireless Voice Mobile Broadband VoIP/ Cable WiMAX MPLS Nextel Direct Connect

35 Sprint s assets add up to a faster WiMAX deployment Antennas & Repeaters + Cell Phone + + Towers BTS Backhaul + + MSCs Transport + IP Core + Service + Network + IMS Enablers Next Gen Services New Network Elements Existing Network Elements Augment = WiMAX

36 Leverage scale and diversity for WiMAX backhaul Microwave AAV Fiber LEC

37 Why Sprint will deliver WiMAX History of innovation Knowledge and experience building nationwide networks from the ground up Existing tower assets Global IP network National platform for convergence Robust backhaul design Partnerships

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39 Paul Saleh Chief Financial Officer

40 Capital Allocation Enhancing returns from operations Highlighting value of our core assets Capturing value through share buyback Allocating capital to generate high return on investment PTT on CDMA, Cable VoIP, Pivot, WiMAX 40

41 Enhancing Value with Foundation Strong base of subscribers Vertical markets expertise Legacy knowledge Technology leadership Expected Benefits Broader portfolio of products Retain high value customers Target non-traditional PTT segments Generate higher ARPU from base Provide new services Realize more synergies & close the margin gap

42 Growing Cable Telephony Business US Consumer VoIP Subscriber Forecast Yankee Group, July (millions) E 2008E 2009E 2010E 2011E Agreements with 12 cable MSO s passing ~30M homes 60+% subscriber & revenue growth y-o-y Over 2M subscribers Annualized cable telephony revenues > $400M Meeting long-term expectations

43 Converged Services Leadership through Pivot Pivot service availability Today YE2007E Markets Launched Homes Passed ~15M >30M Benefits to Sprint Leadership in bundled services Integration of services leads to differentiated & unique customer experience Opportunity to sell new services

44 WiMAX Business Offers Significant Growth Potential Market Potential by 2010 Consumer Home Business Office Mobile Consumer Business Portable Ad Hoc Subscription ~ 48M Households ~4.5M Small/Home Offices ~125M Covered POPs ~130M Consumer Electronics Devices Services Broadband Fixed Portable Mobile Value Added Services Advertising Commerce Entertainment Applications Embedded CE Devices (OEM) Distribution Partners National retail Local retail Indirect dealers Wholesalers VARs OEM s Strategic Partners

45 Scalable WiMAX Business Expected WiMAX Business Model vs. 3G Cost of Service Cost of Products Spectrum: Substantially wider carriers; high capacity network Radio Access Network (RAN): About 25% lower cost per carrier Backhaul: Mix of microwave, LEC and alternatives Subsidy: Low subsidy driven by open standard and scale of embedded device model Sales & Marketing Sales: Significantly lower due to self-activation Fulfillment: Lower due to embedded model Marketing: Similar costs supported by eco-system partners to drive mass market adoption General & Administrative Care: Similar care cost structure except for OEM devices Bad Debt: Lower due to advance payment model

46 Capital Efficiency of WiMAX Planning to spend $2.5B to cover 70M POPs by YE2008 Expectations: WiMAX 1 Target Customers 70M POPs Fios 20M homes U-Verse 18M homes Cap ex / Target Customer ~$35-40/POP ~$1,000/home ~$300/home IP Switching & IMS ~20% Backhaul & Other ~20% Peak Internet Speeds Service Capabilities up to 10 Mbps Mobile video Mobile internet Mobile voice Location-based services up to 30 Mbps Fixed video Fixed internet Fixed voice up to 6 Mbps Fixed video Fixed internet Fixed voice Utility outside home Full utility 2 none none Radio Access Network (RAN) ~60% Note 1) Represents Sprint Nextel s expectations for its WiMAX network and does not include Clearwire build-out Note 2) Utility of WiMAX will extend to all coverage areas built by Sprint and Clearwire

47 Financial Targets for WiMAX $2B to $2.5B in revenues for 2010 Over 80% expected to be generated from new lines of business Significant ramp in revenue expected beyond 2010 Positive adjusted OIBDA in 2010 Capital investment Cumulative spend of approximately $2.5B through 2008; covering ~70M POPs Cumulative spend of approximately $5B through 2010; covering ~125M POPs Positive free cash flow in 2011

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