Array Digital receives non-binding buyout proposal from TDS (81.9% owner); forms special committee

ARRAY DIGITAL INFRASTRUCTURE, INC.

TDS (81.9% stock, 95.9% voting) proposes to acquire all outstanding AD shares not already owned.
Array's board forms Special Committee of three independent directors to evaluate proposal.
Special Committee retains PJT Partners (financial advisor) and Cravath Swaine & Moore (legal counsel).
Proposal is non-binding, conditioned on Special Committee recommendation and disinterested stockholder vote.
Shareholders need not take any action; no assurance a transaction will occur.

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