Telephone and Data Systems, Inc.

Hello and welcome to the TDS and Array third quarter 2025 operating results conference call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please raise your hand. If you have dialed into today's call, please press star 9 to raise your hand and star 6 to unmute. I would now like to turn the call over to John Toomey. Please go ahead.

Good morning and thank you for joining us today. I'm pleased to be here in my new role as treasurer and vice president of corporate relations. I've been with TDS for 25 years, serving as treasurer since 2018, and I look forward to meeting and talking with you as part of my expanded role. We want to make you aware of the presentation that has been prepared to accompany our comments this morning, which you can find on the investor relations sections of the TDS and Array websites. With me today and offering prepared comments are from TDS, Walter Carlson, President and CEO, Vicky Villacrez, Executive Vice President and Chief Financial Officer, from TDS Telecom, Ken Dixon, President and CEO, Chris Botfeld, Vice President of Finance, and from Array Digital Infrastructure, Doug Chambers, Interim President and CEO. This call is being simultaneously webcast on the TDS and Array Investor Relations websites. Please see the websites for the slides referred to on this call, including non-GAAP reconciliations. TDS and Array filed their SEC Forms 8K, including the press releases in our 10Qs earlier this morning. Finally, as shown on slide two, the information set forth in the presentation and discussed during this call contains statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. Please review the Safe Harbor paragraphs in our press releases and the extended version included in our SEC filings. I will now turn over the call to Walter Carlson.

Thanks, John, and good morning, everyone. We are pleased to report to you on our third quarter performance and the progress we have made on our priorities for 2025. Our priorities for 2025 are set forth on slide three. As we reported to you in August, the T-Mobile transaction closed on August 1. The close of that transaction and the subsequent transition activities have gone well, and the successful close has enabled us to continue our progress on all our other priorities. Array Digital Infrastructure has seamlessly transitioned into an independent tower company and has hit the ground running already showing nice growth, as Doug Chambers will highlight shortly. Doug has done an excellent job leading array during this transition. With array established as a standalone tower company, we are pleased to name Anthony Carlson as the president and CEO to lead the array team into the future. Anthony has an outstanding business background and has led significant teams at both US Cellular and TDS Telecom for the past six years. We are confident that he will be an excellent leader for Array. Turning to TDS Telecom, the third quarter was Ken Dixon's first full quarter as its CEO. TDS Telecom continues to be laser focused on its fiber transformation. In the quarter, the company achieved an important milestone of 1 million fiber addresses. You'll hear more from Ken and Chris Bothfeld on this achievement and TDS Telecom's other accomplishments later in the presentation. TDS has also strengthened its capital structure, having received a $1.6 billion special dividend from Array in August. and we expect to receive additional proceeds after the close of the pending spectrum transactions. The proceeds received to date have enabled the substantial pay down of debt and will support the existing fiber expansion program at TDS Telecom. As we receive the proceeds from the additional spectrum sales, we expect to further expand our fiber program and to use a significant portion to support the new $500 million share repurchase program that the company announced this morning. Vicky Villacruz will provide additional details on our capital allocation program during her remarks. And lastly, we are keenly focused on our culture. Transformational changes are never easy, but TDS has a strong culture and our associates are effectively executing against our objectives through their continued hard work, collaboration, and professionalism. I want to personally thank all of the teams whose efforts have put the enterprise in this strong position heading into 2026. I will now turn the call over to Vicki.