Exhibit 99.2

For more information, contact:

For media inquiries

Name: McCall Butler

AT&T Corporate and Financial Communications

Phone: 404-986-0456

Email: mb8191@att.com

For noteholder inquiries

Global Bondholder Services Corporation

Email: contact@gbsc-usa.com

AT&T INC. ANNOUNCES PRICING TERMS FOR ITS EXCHANGE OFFERS

Dallas, Texas, November 16, 2017 — AT&T Inc. (NYSE: T) (“AT&T”) announced today pricing terms with respect to its private offers to exchange forty-six series of notes across two series of exchange offers, each as detailed below.

MATURITY EXTENSION EXCHANGE OFFERS

In the first series of exchange offers, the “Maturity Extension Exchange Offers”, AT&T has offered to (i) exchange (the “Maturity Extension Pool 1 Offer”) the eleven series of notes described in the table below (collectively, the “Maturity Extension Pool 1 Notes”) for a new series of AT&T’s senior notes to be due in 2028 (the “New 2028 Notes”).

November 16, 2017

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For each $1,000 principal amount of Maturity Extension Pool 1 Notes validly tendered and not validly withdrawn prior to 5:00 p.m., New York City time, on November 15, 2017 (the “Early Participation Date”) and accepted by AT&T, the following table sets forth the yields, the Total Consideration and the principal amount of the New 2028 Notes, as priced below:

and (ii) exchange the seven series of notes described in the table below (collectively, the “Maturity Extension Pool 2 Notes” and, together with the Maturity Extension Pool 1 Notes, the “Old Maturity Extension Notes”) for a new series of AT&T’s senior notes to be due in 2030 (the “New 2030 Notes” and, together with the New 2028 Notes, the “New Maturity Extension Notes”). For each $1,000 principal amount of Maturity Extension Pool 2 Notes validly tendered and not validly withdrawn prior to the Early Participation Date and accepted by AT&T, the following table sets forth the yields, the Total Consideration and the principal amount of the New 2030 Notes, as priced below:

Eligible Holders (as defined below) who validly tender their Old Maturity Extension Notes after the Early Participation Date will receive, for each $1,000 principal amount of such Old Notes validly tendered and accepted by AT&T, an amount reflecting the applicable Total Consideration less the early participation payment of $50.00 as specified in the Maturity Extension Offering Memorandum and the related letter of transmittal (the “Maturity Extension Letter of Transmittal”).

For each $1,000 principal amount of Old Maturity Extension Notes validly tendered and not validly withdrawn, and accepted by AT&T, Eligible Holders of such Old Maturity Extension Notes will receive a cash payment for accrued and unpaid interest on the applicable series of Old Maturity Extension Notes up to, but not including, the settlement date as well as a cash payment for amounts due in lieu of fractional amounts of New Maturity Extension Notes.

The interest rate on the New 2028 Notes will be 4.100%, and the interest rate on the New 2030 Notes will be 4.300%. The yield on the New 2028 Notes will be 4.117% and the New Issue Price of the New 2028 Notes will be $998.65, which has been determined by reference to the bid-side yield on the 2.25% U.S. Treasury Notes due August 15, 2027, as of 11:00 a.m. New York City time on November 16, 2017 (such date and time, the “Pricing Time”), which was 2.367%, plus 1.750%. The yield on the New 2030 Notes will be 4.317% and the New Issue Price of the New 2030 Notes will be $998.46, which has been determined by reference to the bid-side yield on the 2.25% U.S. Treasury Notes due August 15, 2027, as of the Pricing Time, which was 2.367%, plus 1.950%.

The Maturity Extension Exchange Offers are being conducted upon the terms and subject to the conditions set forth in the Maturity Extension Offering Memorandum, as amended by AT&T’s press release, dated as of November 13, 2017, and the Maturity Extension Letter of Transmittal.

OPCO AND AT&T EXCHANGE OFFERS

In the second series of exchange offers, the “OpCo and AT&T Exchange Offers”, AT&T has offered to (i) exchange (the “Obligor Exchange Offer”) the twenty-one series of notes described in the table below (collectively, the “OpCo Notes”) issued by certain of AT&T’s wholly-owned subsidiaries, for new series of senior notes to be issued by AT&T (the “New AT&T Obligor Notes”) as described in, and for the consideration summarized in, the table below;

and (ii) exchange (the “New 2046 Exchange Offer”) the OpCo Notes and the seven series of notes described under the heading “Old AT&T Notes” in the table below (the “Old AT&T Notes” and, together with the OpCo Notes and the Old Maturity Extension Notes, the “Old Notes”) for a new series of AT&T’s senior notes to be due in 2046 (the “New 2046 Notes” and, together with the New AT&T Obligor Notes and the New Maturity Extension Notes, the “New Notes”). For each $1,000 principal amount of OpCo Notes or Old AT&T Notes validly tendered and not validly withdrawn prior to 5:00 p.m., New York City time, on November 15, 2017 (the “Early Participation Date”) and accepted by AT&T, the following table sets forth the yields, the Total Consideration, the principal amount of the New 2046 Notes, and the amount of cash, as priced below:

Each New AT&T Obligor Note issued in exchange for an OpCo Note will have an interest rate and maturity that is identical to the interest rate and maturity of the tendered OpCo Note, as well as identical interest payment dates and optional redemption prices. No accrued but unpaid interest will be paid on any OpCo Notes in connection with the Obligor Exchange Offer. However, interest on the applicable New AT&T Obligor Note will accrue from and include the most recent interest payment date of the tendered OpCo Note.

The interest rate on the New 2046 Notes will be 5.150%. The yield on the New 2046 Notes will be 5.192% and the New Issue Price of the New 2046 Notes will be $993.77, which has been determined by reference to the bid-side yield on the 3.000% U.S. Treasury Notes due May 15, 2047, as of the Pricing Time, which was 2.792%, plus 2.400%.

The OpCo and AT&T Exchange Offers are being conducted upon the terms and subject to the conditions set forth in the OpCo and AT&T Offering Memorandum, as amended by AT&T’s press release, dated as of November 13, 2017, and the related letter of transmittal and consent (the “OpCo and AT&T Letter of Transmittal” and, together with the Maturity Extension Letter of Transmittal, the “Letters of Transmittal”).

TERMS OF THE EXCHANGE OFFERS

The Maturity Extension Exchange Offers and the OpCo and AT&T Exchange Offers (collectively, the “Exchange Offers”) are only made, and the New Notes are only being

offered and will only be issued, and copies of the offering documents will only be made available, to a holder of Old Notes who has certified its status as either (a) a “qualified institutional buyer” as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) or (b) (i) a person who is not a “U.S. person” as defined under Regulation S under the Securities Act, or a dealer or other professional fiduciary organized, incorporated or (if an individual) residing in the United States holding a discretionary account or similar account (other than an estate or trust) for the benefit or account of a non-“U.S. person”, (ii) if located or resident in any Member State of the European Economic Area which has implemented Directive 2003/71/EC, as amended, including by Directive 2010/73/EU (the “Prospectus Directive”), a “qualified investor” as defined in the Prospectus Directive and (iii) if located or resident in Canada, is located or resident in a province of Canada and is an “accredited investor” as such term is defined in National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), and, if resident in Ontario, section 73.3(1) of the Securities Act (Ontario), in each case, that is not an individual unless that person is also a “permitted client” as defined in National Instrument 31-103 - Registration Requirements, Exemptions and Ongoing Registrant Obligations (“NI 31-103”) (each, an “Eligible Holder”).

The Exchange Offers will expire at 11:59 p.m., New York City time, on November 28, 2017, unless extended or earlier terminated by AT&T. In accordance with the terms of the Exchange Offers, the withdrawal deadline relating to the Exchange Offers occurred at 5:00 p.m. New York City time on November 13, 2017. As a result, tendered Old Notes may no longer be withdrawn, except in certain limited circumstances where additional withdrawal rights are required by law (as determined by AT&T).

The New Notes have not been registered under the Securities Act or any state securities laws. Therefore, the New Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws.

This press release is not an offer to sell or a solicitation of an offer to buy any of the securities described herein. The Exchange Offers are being made solely by the Offering Memoranda and the Letters of Transmittal and only to such persons and in such jurisdictions as is permitted under applicable law.

In the United Kingdom, this press release is only being communicated to, and any other documents or materials relating to the Exchange Offers are only being distributed to and are only directed at, (i) persons who are outside the United Kingdom, (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act (Financial Promotion) Order 2005, as amended (the “Order”) or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Articles 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents.

Documents relating to the Exchange Offers will only be distributed to holders of Old Notes who complete and return a letter of eligibility confirming that they are Eligible Holders. Holders of Old Notes who desire a copy of the eligibility letter may contact Global Bondholder Services Corporation, the exchange agent and information agent for the Exchange Offers, at (866) 470-3900 (toll-free) or (212) 430-3774 (collect) or by email at contact@gbsc-usa.com.

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CAUTIONARY LANGUAGE CONCERNING FORWARD-LOOKING STATEMENTS

Information set forth in this news release contains forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially. A discussion of factors that may affect future results is contained in AT&T’s filings with the Securities and Exchange Commission and in the Offering Memoranda related to the Exchange Offers. AT&T disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.