Firm Analyst
B. Riley FBR Zack Silver
Citi Mike Rollins
J.P. Morgan Philip Cusick
Morgan Stanley Simon Flannery
Raymond James Ric Prentiss

The analysts listed above conduct research on Telephone and Data Systems, Inc. (TDS) and U.S. Cellular Corporation (USM) independent of TDS and USM. Any opinions, estimates, recommendation or forecasts made by these analysts are theirs alone and do not represent the opinions, estimates or forecasts of Telephone and Data Systems, Inc. and U.S. Cellular Corporation or their respective managements.