Filing Discloses Sprint Common Shares to Convert Into ~$5.647 in Cash, ~0.2617 Shares of New Sprint

Sprint Nextel Corporation (“Sprint”) S and SoftBank Corp. (“SoftBank”) today announced the preliminary results of elections made by Sprint shareholders regarding their preferences as to the form of merger consideration they will receive in connection with the pending transaction between Sprint and SoftBank. The deadline for Sprint shareholders to have made elections in connection with the transaction was 5:00 p.m., New York time, on July 5, 2013. Of the 3,026,063,027 shares of Sprint common stock outstanding as of July 5, 2013, holders of: • 79,708,999 shares, or approximately 3 percent of outstanding shares, elected to receive shares of Sprint Corporation (“New Sprint”) common stock; • 1,607,839,145 shares, or approximately 53 percent of outstanding shares, elected to receive cash; and • 1,338,514,883 shares, or approximately 44 percent of outstanding shares, made no election and therefore will be deemed to have elected to receive cash. The allocation of the merger consideration will be computed using the formula set forth in that certain Agreement and Plan of Merger, dated as of October 15, 2012, as subsequently amended (the “Merger Agreement”), by and among Sprint, SoftBank and its direct and indirect wholly owned subsidiaries, Starburst I, Inc., Starburst II, Inc. (“Starburst II”) and Starburst III, Inc. Based on the number of shares of Sprint common stock outstanding as of July 5, 2013, each share of Sprint common stock for which a cash election (or no election) was made will be converted into the right to receive approximately $5.647658 in cash and 0.26174408 shares of New Sprint common stock