Consolidated Communications Shareholders Approve Proposed Transaction with Searchlight and BCI

Consolidated Communications Holdings, Inc. (Nasdaq: CNSL) (the “Company” or “Consolidated”), a top 10 fiber provider in the U.S., today announced that, based on the preliminary vote count provided by its proxy solicitor following the Company’s special meeting of shareholders (the “Special Meeting”) held earlier today, Consolidated shareholders have voted overwhelmingly to approve the proposed acquisition of the Company by affiliates of Searchlight Capital Partners, L.P. (“Searchlight”) and British Columbia Investment Management Corporation (“BCI”) (the “Proposed Transaction”). Approximately 75% of disinterested shareholders voted to approve the proposal to adopt the merger agreement and approve the Proposed Transaction. Consolidated will file final, certified voting results on a Form 8-K with the U.S. Securities and Exchange Commission as soon as practicable.

“Today’s vote by Consolidated shareholders is a clear endorsement that they recognize the value-maximizing nature of this transaction,” said Robert J. Currey, the Chairman of the Consolidated Communications Board and the Special Committee Chair. “With the financial flexibility and access to capital this transaction provides, we will be well positioned to bring broadband services to underserved and unserved communities across rural America. We look forward to continuing to deliver for our stakeholders, including our customers and our employees, for many years to come.”

The Proposed Transaction is expected to close by the first quarter of 2025, subject to customary closing conditions, including receipt of regulatory approvals. The Proposed Transaction is not subject to a financing condition. Following the closing of the Proposed Transaction, shares of Consolidated Communications common stock will no longer be traded or listed on any public securities exchange.

Advisors

Rothschild & Co is acting as financial advisor to the special committee and Cravath, Swaine & Moore LLP is acting as its legal counsel. Latham & Watkins LLP is providing legal counsel to Consolidated Communications.

About Consolidated Communications

Consolidated Communications Holdings, Inc. (Nasdaq: CNSL) is dedicated to moving people, businesses and communities forward by delivering the most reliable fiber communications solutions. Consumers, businesses and wireless and wireline carriers depend on Consolidated for a wide range of high-speed internet, data, phone, security, cloud and wholesale carrier solutions. With a network spanning nearly 60,000 fiber route miles, Consolidated is a top 10 U.S. fiber provider, turning technology into solutions that are backed by exceptional customer support.