PRESS RELEASE


Media Contact
James Nester
Vice President of Marketing & Public Affairs
(304) 414-4667
nesterj@lumosnet.com

For immediate release

Friday, November 17, 2017
Lumos Networks Completes Sale to EQT Infrastructure
EQT Iinfrastructure to Support Lumos Networks in Becoming a Broader Telecommunications Infrastructure Platform in the U.S.

WAYNESBORO, Va., Nov. 17, 2017 (GLOBE NEWSWIRE) -- Lumos Networks Corp. (“Lumos Networks”), a leading fiber-based service provider in the mid-Atlantic region, today announced the completion of its sale to EQT Infrastructure. Under the terms of the merger agreement, Lumos Networks stockholders are receiving $18.00 in cash for each share of Lumos Networks common stock they hold.

As a result of the completion of the transaction, shares of Lumos Networks common stock were removed from listing on the NASDAQ Global Select Market, with trading in Lumos Networks shares suspended prior to the opening of business today.

Jan Vesely, Director at EQT Partners, Investment Advisor to the fund, said, “Lumos is the ideal fiber platform for EQT in the US. We are excited to begin working with the team in supporting the business and its growth plans going forward.”

“I, along with the rest of the Lumos team, am excited to begin to work with EQT Infrastructure to innovate and expand Lumos’s network, products and service offerings to our customers,” stated Timothy G. Biltz, President and CEO.

Wells Fargo Securities, LLC and UBS Investment Bank served as co-financial advisors to Lumos Networks in connection with the transaction. Troutman Sanders LLP and Lawler, Metzger, Keeny and Logan, LLC served as legal advisors to Lumos Networks in connection with this transaction. Morgan Stanley & Co. LLC acted as exclusive financial advisor to EQT Infrastructure, and Simpson Thacher & Bartlett LLP and Morgan, Lewis, & Bockius LLP served as legal advisors to EQT Infrastructure. Morgan Stanley Senior Funding, Inc. and Goldman Sachs Bank USA served as joint lead arrangers and joint bookrunners for the financing of the transaction.

Media and Investor Contacts

For EQT:
U.S. Media:
Daniel Yunger or Ross Lovern
KEKST
212.521.4800
DANIEL.YUNGER@KEKST.COM
European Media:
EQT Press Office
+46 8 506 55 334
PRESS@EQTPARTNERS.COM

About the Combination of Spirit Communications and Lumos Networks

The combination of Spirit Communications and Lumos Networks creates a super-regional fiber bandwidth network with over 21,000 miles of fiber and more than 9,000 on-net locations across nine states in the Mid-Atlantic and Southeast United States. The new entity offers a full range of Ethernet, MPLS, dark fiber, advanced voice and cloud services to thousands of carrier, enterprise, data center and government customers. The entity also connects 44 total data centers, including 12 co-location and data centers. More information: is available at www.lumosnetworks.com. and www.spiritcom.com.

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Lumos Networks provides fiber internet, voice, and IP connectivity over a dense fiber-based network serving enterprise and carrier customers in areas around and including Roanoake, VA, Richmond, VA, Daleville, VA, Waynesboro, VA, Hampton Roads, VA, Virginia Beach, VA, Lynchburg, VA, Charleston, WV, Huntington, WV, Beckley, WV, Parkersburg, WV, Clarksburg, WV, Morgantown, WV, Wheeling, WV, Pittsburgh, PA, Harrisburg, PA, Altoona, PA, Hagerstown, MD, and Washington, D.C.