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Clearwire

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• Started in 2003 by telecom pioneer Craig McCaw. • Founder of Cellular One and innovator behind Nextel’s “Push to Talk”

technology.

• Headquartered in Kirkland, WA.

Who is Clearwire?

Clearwire Corporation’s principal activity is to build and operate next generation wireless broadband networks that provide entire communities with high-speed residential and mobile Internet access services and residential voice services. The wireless broadband networks covers and delivers a wireless broadband connection that creates a new communications path into the home or office and also provides a broadband connection anytime and anywhere within the Groups coverage area.

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Clearwire Values Every aspect of Clearwire’s business is guided by CLEAR values:

Customer centric with every decision- Customer experience drives our actions, and we constantly ask how our work delivers the right customer

experience.

Low cost in all we do.- We are frugal with the company resources; we focus on operational efficiency that drives the lowest cost

structure.

East to use at every touch-point.- Striving for simplicity in the products and services we deliver, in the way we do business, and how we interact as a

team

Always better than yesterday, our competition, and our user expectations- We encourage and reward innovation and diversity of perspective, and a culture of continuous improvement

Really fast transmission speeds, actions and results.- A sense of urgency guides our actions; we deliver products and services that are always faster than the

competition.

At Clearwire, success is about more than having a healthy bottom line. Guided by our values, we are committed to making Clearwire an amazing and unique place to work for each member of our team

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FAST

• Go from 0 to internet in just 3 minutes.

• Download music, pictures and video up to 25 times faster than dial-up.

SIMPLE

• Easy to install, no wires and no software.

• Plug and surf.

• Easier to set up than DSL or cable.

• Buy it today, use it today.

PORTABLE

• Internet service designed for a person, not a place.

• All you need is a power outlet. Use Clearwire at home or anywhere in our coverage area.

Clearwire – Clearly Better

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Clearwire’s Product Vision:

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Coverage Map

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Sprint Transaction Summary

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Cost Efficiencies and Reduced Funding Gap

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Clearwire’s Spectrum Portfolio

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Strategic Agreements Aligned to SupportClearwire’s Mobile Broadband Platform

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Pro Forma Ownership Structure(As of May 7th, 2008)

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Interests in Clearwire

Investor Class A Stock Class B Stock(2) % OutstandingSprint HoldCo LLC 370,000,000 51.20%Comcast Corporation 61,764,705 8.53%Time Warner Cable Inc. 32,352,941 4.47%Bright House Ntetworks, LLC 5,882,353 8.10%Intel Corporation 58,823,530 8.13%Google Inc. 29,411,765 4.06%Shareholders of Old Clearwire(s) 165,001,706 22.80%CW Investment Holdings LLC 588,235 0.08%

195,001,706 528,823,529 100.00%

(1) Includes shares of Clearwire Class A common stock issued to Intel Corporation on account of its shares of Old Clearwire Class A common stock exchanged in the merger.(2) The holders of Clearwire Class B common stock hold an equivalent number of Clearwire Communications Class B common interests

Interests in Clearwire based on the Investors' purchase price of $17.00 per share, on February 27, 2009

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2009 2008(1) 2007(1)

Statements of Operations Data:Revenues $ 274,458 $ 20,489 $ -

Cost of Goods and services and network costs (exclusive of items shown separately below) 422,116 131,489 48,865 Selling, general and administrative expense 568,063 150,940 99,490 Depreciation and amortization 208,263 58,146 3,979 Spectrum lease expense 259,359 90,032 60,051 Transaction related expenses - 82,960 -

Total operating expense 1,457,801 513,567 212,385 Operating loss (1,183,343) (493,078) (212,385) Other income (expense):

Interest income 9,691 1,091 - Interest expense (69,468) (16,545) - Other income (expense), net (10,014) (22,208) 4,022 Total other income (expense), net (69,791) (37,662) 4,022

Loss before income taxes (1,253,134) (530,740) (208,363) Income tax provision (712) (61,607) (16,362)

Net loss (1,253,846) (592,347) (224,725) Less: non-controlling interests in net loss of consolidated subsidiaries 928,264 159,721 -

Net loss attributable to Clearwire Corporation $ (325,582) $ (432,626) $ (224,725) Net loss per Clearwire Corporation Class A Common Share(2):

Basic $ (1.72) $ (0.16) $Diluted $ (1.74) $ (0.28) $

Weighted average Clearwire Corporation Class A Common Shares outstanding:Basic 194,696 189,921 Diluted 741,071 694,921

Other Financial Data:Capital expenditures $ 1,540,030 $ 574,957 $ 329,469

(In thousands, except per share data)

Year Ended December 31,

Selected Financial Data

(1) The year ended December 31, 2008 includes the results of operations for the Sprint WiMAX Business for the first eleven months of 2008 prior to the closing of the Transactions and the results of Clearwire’s operations subsequent to the Closing. The 2007 operations data represents the Sprint WiMAX Business’ historical results of operations.

(2) Prior to the Closing, Clearwire had no equity as it is a wholly-owned division of Sprint. As such, Clearwire did not calculate or present net loss per share for the period from January 1, 2008 to November 28, 2008 and the year ended December 31, 2007. Clearwire has calculated and presented basic and diluted net loss per share for the period from November 29, 2008 through December 31, 2008 and for the year ended December 31, 2009.

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Selected Financial Data

2009 2008 2007

Operating DataSubscribers:(1)United States:

Retail 595 424 - Wholesale 46 - -

International-Retail 47 51 -

(1) Represents the number of households and business or gvernmental entities receiving wireless broadband connectivity through our network.

2009 2008 2007

Balance Sheet Data:Cash and cash equivalents $ 1,698,017 $ 1,206,143 $ - Investments (short and long-term 2,194,348 1,920,723 - Property, plant and equipment, net 2,596,520 1,319,945 491,896 Spectrum licenses, net 4,495,134 4,471,862 2,642,590 Total assets 11,267,853 9,124,167 3,144,158 Long-term debt, net 2,714,731 1,350,498 - Total stockholders' equity 7,772,368 7,502,810 2,464,936

(In thousands)

(In thousands)

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Annual Revenue Forecast

A pattern of increasing sales in conjunction with a rising EPS may influence a buy recommendation, while flat or falling sales and faltering earnings may explain a sell recommendation. A rising EPS with flat or falling sales may result from increased cost efficiency and margins, rather than market expansion. This chart shows the revenue forecast trend of all analysts and the highest and lowest projections for the current and next fiscal year.

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Peer Analyst