United States Cellular Corporation

operating results conference call. Please be advised that today's conference is being recorded. At the end of the presentation, there will be an opportunity to ask questions. To ask questions, please press star on a touchtone phone. And to withdraw your question, please press star one again. I would now like to hand the conference over to your host, Colleen Thompson, Vice President of Corporate Relations. Ma'am, you may begin.

good morning and thank you for joining us we want to make you all aware of the presentation we have 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 chief executive officer vicky villacrez executive vice president and chief financial officer from array digital infrastructure doug chambers interim president and ceo From TDS Telecom, Chris Bosfeld, Vice President of Finance and Chief Financial Officer. This call is being simultaneously webcast on the TDS and Array investor relations website. Please see the websites for slides referred to on this call, including non-GAAP reconciliation. TDS and Array filed their SEC forms AK, including the press releases and our 10Qs earlier this morning. 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. And with that, I will now turn the call over to Walter Carlson. Walter?

Thank you, Colleen, and good morning, everyone. We'll start on slide three and review the progress that we've made on our priorities for 2025. As we announced on August the 1st, we are very pleased that we closed on the sale of U.S. cellular wireless business and certain spectrum assets to T-Mobile. The teams at U.S. Cellular and TDS worked tirelessly over the last several years to negotiate and complete a $4.3 billion transaction. I also want to thank T-Mobile for their partnership in this transaction and throughout the integration process. This transaction unlocks significant value for shareholders and strengthens the balance sheets at both Array and TDS, as Vicki will discuss shortly. Equally important, completion of this sale will enable us to focus on our tower and fiber businesses, where we believe we are well positioned to win. Looking ahead, I am excited for a new chapter in the company's history. Going forward, we like the tower's business and are operating under a new name, Array Digital Infrastructure Inc. We believe Array has many opportunities, Array holds valuable assets, towers, spectrum, and equity method investment interests, all of which are the product of significant work and investment over the prior 40 years. Our towers business at Array has an outstanding management team led by Doug Chambers. We believe Array is uniquely and attractively positioned, and we look forward to running a tower company. With approximately 4,400 towers, Array has the strength and stability of the new master license agreement with T-Mobile. And with increasing demand for data and communication services in the United States, we believe we have a great opportunity to grow co-locations and margins over time. Turning to TDS Telecom, in June, we were pleased to announce CEO of TDS Telecom to lead that business going forward. Ken comes to us with decades of telecom and fiber experience. Ken has hit the ground running, and his deep knowledge and expertise in sales, marketing, customer satisfaction, and operations are already making a difference. I'm looking forward to you hearing from Ken On our next earnings call, Chris Botfeld will report to you today on the progress that TDS Telecom made on our fiber business during the second quarter. Turning to the fourth item on our set of objectives, throughout the year we have made significant progress in strengthening our capital structure. This increases our financial flexibility and positions us to take advantage of opportunities as they present themselves. Vicki will highlight those accomplishments shortly. And lastly, with all of the changes in the organization, we remain focused on our culture, and TDS's culture is one of its greatest strengths. I want to thank all of the teams across the TDS enterprise for their contributions and these accomplishments, and I'm excited about what lies ahead. I will now turn the call over to Vicki.