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Telephone and Data Systems (TDS) investor relations material

Telephone and Data Systems Global Communications Infrastructure Conference summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Global Communications Infrastructure Conference summary16 Sep, 2025

Corporate history and asset base

  • Originated from UScellular, retaining 4,400 towers, 30% of spectrum, and minority stakes in wireless partnerships after selling wireless operations to T-Mobile.

  • Annual income from partnership investments is approximately $150–160 million.

  • Three pillars of value: towers, spectrum, and partnership investments.

Operational strategy and growth

  • Focused on operational execution, especially colocation growth, with Q2 2025 revenue up 12% (7% excluding application fees).

  • In-house sales team has driven over 100% increase in colocation applications.

  • T-Mobile committed to colocate on 2,015 sites, boosting cash revenue by 50% starting August 1.

  • Actively managing ground lease expenses and seeking rent abatements for underutilized towers.

  • Plan to reduce 800–1,800 naked towers through increased colocations or other actions.

Differentiation and market positioning

  • Operates with a lean structure, leveraging shared services from parent TDS.

  • MLAs with all major carriers and streamlined processes make it easy for carriers to do business.

  • Rural tower footprint positions the company well for carrier edgeouts; a third of towers have no nearby competition.

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Q3 202531 Oct, 2025
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Frequently asked questions

Internet and Cable Providers

Telephone and Data Systems Inc., more widely known as TDS, is a significant player in the telecommunication services sector in the United States. Established in 1969, TDS has grown to provide reliable wireless, cable, and wireline services to homes and businesses across the United States. With a focus on meeting the growing demands for high-speed internet, voice, and video services, TDS operates under a number of subsidiary brands, including U.S. Cellular, TDS Telecom, and OneNeck IT Solutions, each catering to distinct areas of telecommunication and information technology.

Chicago Roots, Nationwide Reach

The roots of Telephone and Data Systems trace back to Chicago, Illinois. The company has since grown significantly, serving customers in over 30 states, and becoming a major player in the industry. TDS Telecom, the company's cable and wireline division, and U.S. Cellular, its wireless division, serve as the two pillars of its operations. Today, they compete with companies like AT&T and Verizon.

Keeping America Connected

In an age where communication and data services have become essential to everyday life, TDS holds a key position in the industry. The company's strategy to provide a range of services from internet access and phone lines to video entertainment and managed IT solutions provides a comprehensive solution to their customers' needs. With the continuous progress of digital communication, TDS's diversity in services them to remain relevant through technological shifts while continually providing the latest in communication technology to their customers. A significant part of TDS's operation is to provide rural and suburban communities with access to high-quality telecommunication services, even if they also offer services in certain urban areas.

Full Steam Ahead

Like many companies in their sector, TDS is evolving with the times. to the increasing shift towards a digital economy and society, TDS is making strides to stay ahead of the curve. The company continues to invest in broadband network expansion and improvements, digital product enhancements, and customer-focused strategies. TDS Telecom, for instance, has undertaken an aggressive fiber optic expansion plan to meet the growing demand for high-speed internet. Simultaneously, U.S. Cellular working on providing a broader 5G network coverage, promising faster and more efficient wireless communication.

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