Array Digital Infrastructure, Inc. · NYSE:AD
Array Digital Infrastructure — United States Cellular — Merger or Acquisition (May 2024)
13 slides from Array Digital Infrastructure's merger presentation, May 28, 2024
Slide 1: Sale of Wireless Operations and Select Spectrum Assets
Sale of Wireless Operations and Select Spectrum Assets May 28, 2024
Slide 2: Forward-Looking Statements
Contains UScellular confidential information. Not for external use or disclosure without proper authorization. Forward-Looking Statements 2 Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: All information set forth in this presentation, except historical and factual
Slide 3: Call Participants
Contains UScellular confidential information. Not for external use or disclosure without proper authorization. 3 Call Participants Laurent “LT” Therivel President and Chief Executive Officer, UScellular Doug Chambers Executive Vice President, Chief Financial Officer and Treasurer, UScellular Vicki V
Slide 4: Transaction Overview
Contains UScellular confidential information. Not for external use or disclosure without proper authorization. Transaction Overview 4 • Sale of wireless operations and select spectrum assets to T-Mobile for $4.4 billion purchase price payable in combination of cash and up to $2 billion in assumed de
Slide 5: Transaction Delivers Significant Benefits to Customers
Contains UScellular confidential information. Not for external use or disclosure without proper authorization. Transaction Delivers Significant Benefits to Customers 5 Lower Prices UScellular customers will have the opportunity to change to T-Mobile's lower-priced comparable plans with no switching
Slide 6: Unlocking Value for All Stakeholders – What's Staying
Contains UScellular confidential information. Not for external use or disclosure without proper authorization. Unlocking Value for All Stakeholders – “What’s Staying” 6 Retained Spectrum UScellular retains a majority of existing wireless spectrum portfolio – including Cellular, C-Band, and 3.45 GHz
Slide 7: UScellular is Retaining ~70% of its Spectrum Portfolio
Contains UScellular confidential information. Not for external use or disclosure without proper authorization. UScellular is Retaining ~70% of its Spectrum Portfolio 7 Spectrum • T-Mobile to acquire bands of UScellular’s spectrum that most seamlessly integrate into their existing network • UScellula
Slide 8: A Transformed UScellular Tower Business
Contains UScellular confidential information. Not for external use or disclosure without proper authorization. A Transformed UScellular Tower Business 8 • T-Mobile to become a long-term tenant on a minimum of 2,015(2) incremental towers with expected minimum incremental cash rentals of $56 million i
Slide 9: UScellular Shareholders to Continue to Benefit from Cash Flows from Equity Method Investment Interests
Contains UScellular confidential information. Not for external use or disclosure without proper authorization. UScellular Shareholders to Continue to Benefit from Cash Flows from Equity Method Investment Interests • UScellular to retain its non-operating equity method investment interests that gener
Slide 10: Exchange Offer for UScellular Debt Holders
Contains UScellular confidential information. Not for external use or disclosure without proper authorization. Exchange Offer for UScellular Debt Holders T-Mobile to conduct exchange offer at par under which debt holders of the following UScellular debt will have the choice to exchange their UScellu
Slide 11: TDS Fully Supports the Transaction
Contains UScellular confidential information. Not for external use or disclosure without proper authorization. TDS Fully Supports the Transaction • Successful outcome creates significant value for UScellular and TDS stakeholders • Potential return of capital to UScellular shareholders (including TDS
Slide 12: Q&A
Q&A
Slide 13: uscellular
3 uscellular
United States Cellular — Merger or Acquisition (May 2024) on 6ix