Telephone and Data Systems withdrew its proposal to acquire the Array Digital Infrastructure common shares it does not already own, ending a planned exchange in which each remaining Array share would have been exchanged for 0.86 of a TDS common share, subject to the proposal’s assumptions. TDS will retain its approximately 82% ownership stake in Array. The companies were unable to agree on the form of consideration and value, according to Walter Carlson, President and Chief Executive Officer of TDS. TDS expects to recommence repurchases of its common shares, including under an additional $500 million authorization announced in November 2025. Approximately $523.9 million remained available under TDS’s repurchase programs as of June 30, 2026. TDS and Array also plan to increase efforts to monetize Array’s remaining wireless spectrum assets, while TDS continues supporting Array and expanding TDS Telecom’s fiber service footprint.