Telephone and Data Systems, Inc. Withdraws Proposal to Acquire Array Digital Infrastructure

Telephone and Data Systems, Inc. (TDS) announced on September 1, 2026, that it is withdrawing its proposal to acquire the remaining Common Shares of Array Digital Infrastructure, Inc. (Array) that it does not already own. TDS, which currently holds an approximately 82% ownership in Array, cited an inability to reach an agreement on the form of consideration and value as the reason for withdrawing the proposal. Despite the withdrawal, TDS remains confident in Array's business and long-term prospects and is committed to supporting its success. Both companies will increase efforts to monetize Array's wireless spectrum assets. Following the withdrawal of the Array acquisition proposal, TDS expects to recommence its share repurchase programs, including the additional $500 million authorization from November 2025.