Second Quarter 2007 Earnings Release

Second Quarter 2007 Earnings Release

August 2007August 2007

1

Forward Looking Statement

Forward-Looking Statements

This presentation, and other written and oral statements made by Clearwire from time to time, contains forward-looking statements which are based on management’s current expectations and beliefs, as well as on a number of assumptions concerning future events made with information that is currently available. Forward-looking statements may include, without limitation, management’s expectations regarding: future financial and operating performance and financial condition; development, network launch, and strategic plans and objectives; industry conditions; the strength of its balance sheet; and liquidity and financing needs. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside of Clearwire's control, which could cause actual results to differ materially and adversely from such statements. Some factors that could cause actual results to differ are:

– We are an early-stage company with a history of operating losses and we expect to continue to realize significant net losses for the foreseeable future.

– Our business plan will require us to raise substantial additional financing both in the near term and over the next five years or more.

– We may be unable to finalize and enter into a definitive agreement with Sprint Nextel, or to satisfy the conditions thereunder, including obtaining approvals from the FCC and Department of Justice.

– We are committed to using commercially reasonable efforts to deploy wireless broadband networks based solely on mobile WiMAX technology once that technology meets certain specified performance criteria, even if there are alternative technologies available in the future that are technologically superior or more cost effective.

– Our business plan contemplates migration of our current network to a mobile WiMAX network, which is not yet commercially available, and may never be developed to our satisfaction or at all.

– We currently depend on our commercial partners to develop and deliver the equipment for our existing and planned networks. – Many of our competitors are better established and have significantly greater resources, and may subsidize their competitive

offerings with other products and services.– Our substantial indebtedness and restrictive debt covenants could limit our financing options and liquidity position and may limit

our ability to grow our business.– Craig McCaw and Intel Capital collectively control a majority of our combined voting power, and may have, or may develop in the

future, interests that may diverge from other stockholders.– Future sales of large blocks of our common stock may adversely impact our stock price.

For a more detailed description of the factors that could cause such a difference, please refer to Clearwire’s filings with the Securities and Exchange Commission, including the information under the headings “Risk Factors” and “Forward-Looking Statements” in our Quarterly Report on Form 10-Q, filed on May 15, 2007. Clearwire assumes no obligation to update or supplement such forward-looking statements. A reconciliation of any non-GAAP financial measures included in this presentation can be found in the press release issued by Clearwire on August 6, 2007, available on the Company’s website.

2

Second Quarter Financial and Operating Highlights

Communications Services and Network Construction on Track

for the Quarter and First Six Months.

Network Growth Continues as Business Expands to 5 New

Markets and Increases Network Coverage by 1.5 million

People.

Subscriber Base Increases 130% to Approximately 300,000

Year over Year.

Service Revenue More than Doubles in Second Quarter 2007

Compared to Second Quarter 2006.

Initial 25 Markets Turn Cash Flow Positive Highlighting

Continued Robust Demand for Clearwire Services.

3

Strategic Highlights

Closed AT&T 2.5 GHz Spectrum Acquisition.

First Phase of Mobile WiMAX Trial Completed

Successfully.

Announced Distribution Agreements with

DirecTV and EchoStar.

Closed $1 Billion Term Loan.

Announced Joint Partnership with Sprint Nextel

to Construct Nationwide Mobile WiMAX Network.

4

Clearwire Area of Focus for Sprint Nextel Partnership

ClearwireClearwire

5

Current and Planned U.S. Markets Through Q3 2007

Anchorage, AK

Maui, HIHonolulu, HI

Stockton, CA

Redding, CAMedford, OR

Grants Pass, OR

Eugene, ORTri-Cities, WA

Bellingham, WASeattle/Tacoma, WA

Chico, CA

Jacksonville, FL

Daytona Beach, FL

Raleigh, NCGreensboro, NC

Eau Claire, WI

Duluth, MN

St. Cloud, MNand Vicinity

Midland Odessa, TX

Amarillo, TX

Abilene, TX

Wichita Falls, TX

Waco, TX

Killeen/Temple, TX

Boise, ID

Bend, OR

Roseburg, OR

Lewiston, ID

Modesto, CAMerced, CA

Visalia, CA

Reno, NV

Klamath Falls, OR

Existing MarketsExisting Markets

Q3Q3’’07 Launch07 Launch

Aberdeen, WA Yakima, WA

Wenatchee, WA

Lubbock, TX

Richmond, VA

Longview, TX

Nashville, TN

Corpus Christi, TX

Syracuse, NY

Dayton, OH

6

Consolidated Operating Metrics (U.S. and Europe)

Q2Q2‘‘0606Metric Q2Q2’’07 07 GrowthGrowth

$441

$34.35

5.8MM

1.64%

CPGA

ARPU

Covered Pops

Churn

$471

$37.93

11.6MM

1.97%

7%

10%

100%

20%

130kSubscribers 299k 130%

30kNet Subscribers 41k 37%

6Mo 6Mo ‘‘0606 6Mo 6Mo ’’07 07 GrowthGrowth

$398

$33.53

5.8MM

1.55%

$404

$36.96

11.6MM

1.81%

2%

10%

100%

17%

130k 299k 130%

67k 93k 39%

7

Improving Distribution Channels

Wholesale

Web/Telesales

Clearwire Retail

Nat’l Big Box Retailers

Local Indirect Dealers

Clearwire Direct Reps

Q2’06 (%)

3

8

6

25

36

2

17

21

11

32

17

Q2’07 (%)

22

8

Strong Year-over-Year Performance

(1)(1) Market EBITDA does not include corporate G&A and Spectrum ExpensMarket EBITDA does not include corporate G&A and Spectrum Expense e

Markets EBITDA Positive (1)

Initial 25 Market EBITDA (1)

Total Subscribers

Service Revenue

ARPU

Churn

Service Gross Margin

Covered Pops

Initial 25 MarketHousehold Penetration

Q2 Q2 ‘‘0606 Q2 Q2 ‘‘0707

– 14

(73)% 5%

130k 299k

$15.4MM $35.5MM

$34.35 $37.93

1.64% 1.97%

$3.5MM $12.2MM

5.8MM 11.6MM

6.9% 11.4%

$441 $471CPGA

6Mo 6Mo ‘‘0606 6Mo 6Mo ‘‘0707

– 14

(99)% 1%

130k 299k

$24.9MM $64.8MM

$33.53 $36.96

1.55% 1.81%

$4.3MM $24.7MM

5.8MM 11.6MM

6.9% 11.4%

$398 $404

% Growth% Growth

–

–

130%

131%

10%

20%

249%

100%

7%

65%

% Growth% Growth

–

–

130%

160%

10%

17%

474%

100%

2%

65%

9

Initial 25 Domestic Market Metrics

Q2Q2‘‘0606Metric Q2Q2’’07 07 GrowthGrowth

$436

$34.77

3.9MM

1.66%

$400

$37.99

4.2MM

1.78%

(8)%

9%

8%

7%

CPGA

ARPU

Covered Pops

Churn

108k 192k 78%Subscribers

6Mo 6Mo ‘‘0606 6Mo 6Mo ’’07 07 GrowthGrowth

$398

$33.81

3.9MM

1.53%

$355

$37.15

4.2MM

1.71%

(11)%

10%

8%

12%

108k 192k 78%

10

Market And Product Development

Seattle/Tacoma Increasing Productivity Month to

Month in the Second Quarter.

Launched 11 New VoIP Markets in Q2. Providing

VoIP Service To 28 Clearwire Markets.

PC Card Scheduled for Late Q3 or Early Q4

Launch.

11

Differentiation Drives Strong Demand

(1)(1) Clearwire Customer Survey Jun 2007Clearwire Customer Survey Jun 2007

Sources of Clearwire’s Customer Base (1)

Cable38%

Dial-Up28% DSL

27%

Never had Internet service

7% Other5%

Cellular Wireless

5% Satellite2%

0%

10%

20%

30%

40%

50%

12

Consolidated Financial Performance

Q2 Q2 ‘‘0606

(1) EBITDA is a non(1) EBITDA is a non--GAAP measure defined as Earnings before Taxes, Interest, DepreciGAAP measure defined as Earnings before Taxes, Interest, Depreciation, and Amortizationation, and Amortization(2)(2) Adjusted EBITDA is EBITDA less significant nonAdjusted EBITDA is EBITDA less significant non--cash items.cash items.

Service Revenue

Covered Pops

Adjusted EBITDA Loss (2)

Capital Expenditures

Cash and Cash Equivalents

Service Gross Margin %Service Gross Margin

EBITDA Loss (1)

$(45.9)MM

5.8MM

$182MM

$(51.9)MM

$53.8MM

23%

$15.4M

$3.5MM

Q2 Q2 ‘‘0707

$(70.2)MM

11.6MM

$1,056MM

$(90.6)MM

$90.2MM

34%

$35.5MM

$12.2MM

6Mo 6Mo ‘‘0606

$(78.9)MM

5.8MM

$182MM

$(89.7)MM

$83.3MM

17%

$24.9MM

$4.3MM

6Mo 6Mo ‘‘0707

$(121.7)MM

11.6MM

$1,056MM

$(160.6)MM

$164.6MM

38%

$64.8MM

$24.7MM

% Growth% Growth

53%

100%

480%

74%

68%

131%

249%

% Growth% Growth

54%

100%

480%

79%

98%

160%

474%

13

Initial 25 Market Performance

(1)(1) Market EBITDA does not include corporate G&A and Spectrum ExpensMarket EBITDA does not include corporate G&A and Spectrum Expensee

Q2 ‘06 Q2 ‘07%

Change

Market EBITDA (1)

Market EBITDA %

$(7.4)MM

(73)%

$1.1MM

5%

108%$10.2MM $21.2MM

139%

66%

$6.7MM

76%

$16.0MM

78%108k 192k

– 14

Total Revenue

Gross Margin %

Gross Margin

Subscribers

Markets EBITDAPositive

Initial 25 Markets

14

Summary

New Market Development Delivers on Managements

Expectations for First Six Months of 2007.

Initial 25 Markets Continue Positive Financial Trend.

PC Card on Target for Launch in Late Q3/Early Q4.

Business Model that is Replicable and Scalable and

Demonstrating Success on a Market by Market Basis.

Subscriber Growth Driving Improved Financial Results.

First Market Hits 20% HH Penetration.