| 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.