SHENANDOAH TELECOMMUNICATION

Ticker: SHEN CUSIP: 82312B106 Class: Common Stock

SOUTHEASTERN ASSET MANAGEMENT INC/TN/'s Holding History (CIK: 0000807985)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 2,940,296 Value ($000) $33,990 Avg Close $11.83 Range $9.67 - $13.90

Q3 2025

Shares 2,448,240 Value ($000) $32,855 Avg Close $13.74 Range $11.71 - $15.84

Q2 2025

Shares 2,288,068 Value ($000) $31,255 Avg Close $12.69 Range $10.07 - $14.46

Q1 2025

Shares 909,818 Value ($000) $11,436 Avg Close $11.76 Range $9.77 - $13.61

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	2,940,296	$33,990	$11.83	$9.67 - $13.90
Q3 2025	2,448,240	$32,855	$13.74	$11.71 - $15.84
Q2 2025	2,288,068	$31,255	$12.69	$10.07 - $14.46
Q1 2025	909,818	$11,436	$11.76	$9.77 - $13.61