Material Agreement (Form 8-K)

On February 4, 2026, Uniti Services LLC ("Uniti Services"), Uniti Group Finance 2019 Inc., Uniti Fiber Holdings Inc. and CSL Capital, LLC (together, the "Issuers"), each a subsidiary of Uniti Group Inc. (the "Company" and, together with the Issuers, "us" or "we"), completed a private offering of $1,000,000,000 aggregate principal amount of the Issuers' 8.625% Senior Notes due 2032 (the "Notes"). The Issuers used the net proceeds from the offering of the Notes to repay borrowings under Uniti Services' senior secured first lien term loan facility due 2031, including related fees and expenses in connection with the foregoing, and for general corporate purposes, which may include the repayment of outstanding debt and/or success-based capital expenditures.

Within 60 days of the date hereof, Uniti Services will (or cause its applicable subsidiaries to) file to obtain regulatory approval to enable the regulated subsidiaries to guarantee the Notes, and it will use commercially reasonable efforts to obtain such approval. Upon the guarantee of the Notes by each of the regulated subsidiaries that guarantee the Issuers' existing 8.625% senior notes due 2032, the Notes are expected to be mandatorily exchanged for 8.625% senior notes due 2032 issued as "additional notes" under the indenture dated as of June 24, 2025 among the Issuers, the guarantors party thereto and the trustee party thereto (the "2025 Indenture"). Any such additional notes are expected to be part of the same series as the existing 8.625% senior notes due 2032 issued under the 2025 Indenture, and are expected to have the same CUSIP number as, and be fungible with, the existing 8.625% senior notes due 2032 issued under the 2025 Indenture.

The Notes were issued at an issue price of 100.25% of their principal amount plus accrued interest from December 15, 2025 to, but excluding, February 4, 2026, pursuant to an Indenture, dated as of February 4, 2026 (the "Indenture"), among the Issuers, the guarantors named therein (collectively, the "Guarantors") and Deutsche Bank Trust Company Americas, as trustee (in such capacity, the "Trustee"). The Notes mature on June 15, 2032 and bear interest at a rate of 8.625% per year. Interest on the Notes is payable on June 15 and December 15 of each year, beginning on June 15, 2026.

The Issuers may redeem the Notes, in whole or in part, at any time prior to June 15, 2028 at a redemption price equal to 100% of the principal amount of the Notes redeemed plus accrued and unpaid interest on the Notes, if any, to, but not including, the redemption date, plus an applicable "make whole" premium described in the Indenture. Thereafter, the Issuers may redeem the Notes in whole or in part, at the redemption prices set forth in the Indenture. In addition, at any time on or prior to June 15, 2028, up to 40% of the aggregate principal amount of the Notes may be redeemed with the net cash proceeds of certain equity offerings at a redemption price of 108.625% of the principal amount plus accrued and unpaid interest, if any, to, but not including, the applicable redemption date; provided that at least 60% of aggregate principal amount of the originally issued Notes remains outstanding. If certain changes of control of Uniti Services occur, holders of the Notes will have the right to require the Issuers to offer to repurchase their Notes at 101% of their principal amount plus accrued and unpaid interest, if any, to, but not including, the repurchase date.

The Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by the Company, Uniti Group LLC, Uniti Services' immediate parent, and by each of Uniti Services' existing and future domestic restricted subsidiaries (other than the Issuers) that guarantees indebtedness under the Company's senior secured credit facilities and existing secured notes (except initially certain regulated subsidiaries for which the Company will seek regulatory approval to enable them to guarantee the Notes). The guarantees are subject to release under specified circumstances, including certain circumstances in which such guarantees may be automatically released without the consent of the holders of the Notes.

The Notes and the related guarantees are the Issuers' and the Guarantors' senior unsecured obligations and rank equal in right of payment with all of the Issuers' and the Guarantors' existing and future senior unsecured indebtedness and senior in right of payment to any of the Issuers' and the Guarantors' subordinated indebtedness. The Notes and the related guarantees are effectively subordinated to all of the Issuers' and the Guarantors' secured indebtedness (including the senior secured credit facilities and secured notes) to the extent of the value of the assets securing such indebtedness and are structurally subordinated to all existing and future liabilities (including trade payables) of the Issuers' subsidiaries that do not guarantee the Notes.