The following table provides information regarding the Company’s spectrum sale agreements (as defined in the table below and collectively referred to as the “Spectrum Sale Agreements”) as of June 30, 2026:

Spectrum Sale Agreements (1)

Agreement Date

Total Consideration (2)

Payments Received

Payments remaining

Broadband license(s) delivered

Broadband license(s) remaining

CPS Energy (“CPS”)

January 2026

$13.0 million

$6.5 million

—

Texas-New Mexico Power Company (“TNMP”)

March 2026

$3.2 million

$1.6 million

—

NorthWestern Energy (“NWE”)

March 2026

$7.7 million

$0.1 million

$7.6 million

—

Benton County (“Benton PUD”)

April 2026

$0.8 million

$0.2 million

$0.6 million

—

2.In accordance with ASC 606, the payments of prepaid fees under the spectrum sale agreements will be accounted for as deferred revenue on the Company’s Consolidated Balance Sheets. Revenue will be recognized for each county once we deliver the cleared 900 MHz Broadband Spectrum and the associated broadband licenses.

Spectrum Sale Agreements (1)

Agreement Date

Total Consideration

Payments Received (2)

Payments remaining

Broadband license(s) delivered

Broadband license(s) remaining

San Diego Gas & Electric (“SDG&E”) Agreement

February 2021

$50.0 million

$45.6 million (3)

$3.1 million

LCRA Agreement

April 2023

$30.0 million

$29.3 million

$0.7 million

LCRA Expansion Agreement

January 2025

$13.5 million

$6.0 million

$6.5 million (4)

—

1.The Spectrum Sale Agreements are subject to customary provisions regarding remedies for non-delivery, including termination rights and refund of amounts paid, if the Company fails to perform its other contractual obligations, including failure to deliver the relevant cleared 900 MHz Broadband Spectrum in accordance with the terms of the Agreements. A gain or loss on the sale of spectrum will be recognized for each county once we deliver the cleared 900 MHz Broadband Spectrum and the associated broadband licenses. See Note 5 Intangible Assets for further discussion on the sale of intangible assets.

2.The payment of prepaid fees under the spectrum sale agreements entered into in the non-ordinary course of business, will be accounted for as contingent liability on the Company’s Consolidated Balance Sheets.

4.Includes a $1.0 million credit, which was applied against the remaining balance pursuant to the LCRA Expansion Agreement in recognition of their contributions to our business efforts.

The following table summarizes the Company’s short-term and long-term contingent liabilities related to spectrum sale agreements entered into in the non-ordinary course of business based on the estimated timing of license deliveries (in thousands) as of June 30, 2026 and March 31, 2026:


	June 30, 2026				March 31, 2026
Spectrum Sale Agreements	Current		Long Term		Current		Long Term
SDG&E	$	1,000	$	—	$	1,000	$	—
LCRA Agreement	1,220		—		1,220		—
LCRA Expansion Agreement	—		6,000		—		6,000

Total contingent liabilities (1)	$	2,220	$	6,000	$	2,220	$	6,000

1.As these contracts were entered into outside the ordinary course of business, a reduction in the contingent liability and a gain or loss on the sale of spectrum will be recognized for each county once the Company delivers the 900 MHz Broadband Spectrum and the associated broadband licenses. See Note 5 Intangible Assets for further discussion on the sale of intangible assets.