TELEPHONE & DATA SYSTEMS INC VOTING TRUST 1989 → TELEPHONE & DATA SYSTEMS INC /DE/ TDS-PV

This Item 4 is being updated by the following information. On August 1, 2025, the Issuer's majority-owned subsidiary, Array Digital Infrastructures, Inc. (formerly known as United States Cellular Corporation) ("Array") completed the sale of its wireless operations and select spectrum assets to T-Mobile US, Inc. for approximately $4.3 billion in cash and the assumption of certain debt, as further described in Issuer's Form 8-K filed with the Securities and Exchange Commission on August 4, 2025. Except as disclosed or incorporated by reference herein, the Voting Trust does not have any current intention, plan or proposal with respect to any of the matters specified in paragraphs (a) through (j) of Item 4 of Schedule 13D. The Trustees intend to maintain the ability to keep or dispose of the voting control of the Issuer. If and to the extent that Array remains a publicly-traded company, the Trustees intend that TDS maintain the ability to keep or dispose of the voting control of Array. The Trustees also retain the right to change their intent, to acquire additional securities from time to time or to dispose of all or part of the securities beneficially owned by the Voting Trust in any manner permitted by the terms of the Voting Trust and/or applicable law.