1. May 24, 2016
Annual Meeting of Shareholders
Kenneth R. Meyers, President and CEO
2. 2
Safe Harbor Statement
All information set forth in this presentation, except historical and factual information, represents
forward-looking statements. This includes all statements about the company’s plans, beliefs,
estimates, and expectations. These statements are based on current estimates, projections, and
assumptions, which involve certain risks and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. Important factors that may affect these
forward-looking statements include, but are not limited to: intense competition; the ability to
execute TDS’ business strategy; uncertainties in TDS’ future cash flows and liquidity and access to
the capital markets; the ability to make payments on TDS and U.S. Cellular indebtedness or comply
with the terms of debt covenants; impacts of any pending acquisitions/divestures/exchanges of
properties and/or licenses, including, but not limited to, the ability to obtain regulatory approvals,
successfully complete the transactions and the financial impacts of such transactions; the ability of
the company to successfully manage and grow its markets; the overall economy; the access to and
pricing of unbundled network elements; the ability to obtain or maintain roaming arrangements
with other carriers on acceptable terms; the state and federal telecommunications regulatory
environment; the value of assets and investments; adverse changes in the ratings afforded TDS
and U.S. Cellular debt securities by accredited ratings organizations; industry consolidation;
advances in telecommunications technology; pending and future litigation; changes in income tax
rates, laws, regulations or rulings; changes in customer growth rates, average monthly revenue per
user, churn rates, roaming revenue and terms, the availability of wireless devices, or the mix of
products and services offered by U.S. Cellular and TDS Telecom. Investors are encouraged to
consider these and other risks and uncertainties that are discussed in documents furnished to the
Securities and Exchange Commission (“SEC”).
3. 3
U.S. Cellular
We exist to provide exceptional
wireless communication services
which enhance consumers’ lives,
increase the competiveness of local
businesses and improve the
efficiency of government operations
in the mid-sized and rural markets
we serve.
We compete and win in the
marketplace by providing an
exceptional customer experience
consisting of a high quality network
that works whenever and wherever
our customers need it, competitive
products and services priced to
offer best value in the industry, and
outstanding service in every
customer interaction.
4. 4
Building on the success of 2015
• Completed 4G LTE deployment
• Achieved postpaid customer
growth and reduced churn
• Provided exceptional customer
service levels
• Best device portfolio in our history,
competitive plans and pricing
• Increased smartphone penetration
and data use
• Significant improvement in
profitability
6. 6
Add Customers
• Attract customers with high-
quality network, strong device
portfolio, competitive plans
and pricing
• Reduce churn through local
focus – making customers feel
like neighbors not numbers,
retention programs, customer
lifecycle management
• Enhance and expand
distribution
• Intensified focus on small and
medium-sized business
customers.
7. 7
Customer Engagement
• Outstanding service at every
point of the customer interaction
is key
• Engaged customers are more
proud of, confident in and loyal to
the companies with whom they
do business
• Our dedicated associates are on
the front line of fulfilling this
commitment to outstanding
customer service
• Customer Engagement now a
company-wide measure for
success
Postpaid Churn Rate
9. 9
Grow Revenues
• Drive smartphone penetration
– Smartphone customers were 75% of
postpaid base in Q1
• Drive annual revenue per account
growth through connected
devices and shared data plans
• Launch new services and
products to leverage and
monetize data use
• Increase revenue/margin growth
through device protection plans,
accessory sales
10. 10
Manage Costs
• Manage subsidies through
equipment installment
plans, lower-cost devices,
and other programs
• Manage upgrade cycle
• Reduce unit costs
11. 11
Invest in Our Future
• Acquire spectrum in secondary
markets and participate in
upcoming auction
• Begin VoLTE rollout
• Expand Gen5 stores to improve
retail store interactions
• Enhance operating systems
• Continue to strengthen talent
development programs
12. 12
Ensure a Strong
Financial Foundation
• Sound, conservative balance sheet
• Sufficient liquidity (cash and credit
facilities) and financial flexibility
• Low debt levels, long maturities
13. 13
Thank You
To our talented associates
and experienced executive
team for raising the
standards of excellence
To our shareholders and debt
holders for your continuing
support
