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ENERGY CAPITAL PARTNERS IV-A, LP

Disclosed activity across 1 company

Tapewire entity
75479
SEC CIK
0001726198

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Reported relationships

Latest disclosed role at each company.

CompanyLast reported asReport datePublished
SHENANDOAH TELECOMMUNICATIONS CO/VA/SHEN · Entity 256710% ownerSeptember 10, 2025September 12, 2025

Disclosed balances

About these balances

Latest available filing per company, not a reconstructed current portfolio. Matching sequences show the last reported balance with all source rows expandable; grouping alone does not establish account ownership. Do not add unresolved positions together. Filings may omit unchanged positions, and amendments may correct only part of an older disclosure. Jointly reported shares are not necessarily this owner's personal holdings.

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Common StockSEC Table I · non-derivativeIndirectSee Footnotes3,457,105 Last balance in matching sequence After 2025-09-11 transaction · row 2 Source-order balances reconcile. Account continuity and personal attribution are not independently verified.
2 source rows

Row 1 · 2025-09-10 · Purchase · Acquired 13,541 · Balance 3,455,302

F1: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.11 to $13.50. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Row 2 · 2025-09-11 · Purchase · Acquired 1,803 · Balance 3,457,105

F4: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.26 to $13.39. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Filing footnotes · ownership attribution and instrument terms

F1: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.11 to $13.50. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

F4: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.26 to $13.39. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

Transaction history

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Purchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”

The cutoff filters transaction history only. Company summaries and owner relationships show the latest available disclosures. Parser corrections can improve historical records.

Transaction dateCompanyActivity / securityShares / unitsReported priceReported valueDetails
September 11, 2025 Filed Sep 12, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 1,803 $13.34 $24,052.74
Disclosure

SEC source: 0001493152-25-013208 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,457,105

F4 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.26 to $13.39. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Read SEC document
September 10, 2025 Filed Sep 12, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 13,541 $13.29 $179,912.50
Disclosure

SEC source: 0001493152-25-013208 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,455,302

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.11 to $13.50. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Read SEC document
September 09, 2025 Filed Sep 10, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 362 $13.39 $4,845.55
Disclosure

SEC source: 0001493152-25-012999 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,441,761

F4 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.35 to $13.40. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Read SEC document
September 08, 2025 Filed Sep 10, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 147 $13.46 $1,979.34
Disclosure

SEC source: 0001493152-25-012999 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,441,399

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.45 to $13.4996. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Read SEC document
September 05, 2025 Filed Sep 8, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 3,000 $13.45 $40,350.00
Disclosure

SEC source: 0001493152-25-012815 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,441,252

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Read SEC document
September 04, 2025 Filed Sep 8, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 2,068 $12.96 $26,798.80
Disclosure

SEC source: 0001493152-25-012815 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,438,252

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.84 to $13.00. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Read SEC document
September 03, 2025 Filed Sep 4, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 30,000 $12.79 $383,802.00
Disclosure

SEC source: 0001641172-25-026594 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,436,184

F4 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.67 to $12.9895. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Read SEC document
September 02, 2025 Filed Sep 4, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 28,951 $13.01 $376,591.71
Disclosure

SEC source: 0001641172-25-026594 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,406,184

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.92 to $13.30. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Read SEC document
August 29, 2025 Filed Sep 2, 2025 21:23 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 12,000 $13.25 $159,018.00
Disclosure

SEC source: 0001641172-25-026239 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,377,233

F4 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.19 to $13.29. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 28, 2025 Filed Sep 2, 2025 21:23 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 14,358 $13.26 $190,434.46
Disclosure

SEC source: 0001641172-25-026239 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,365,233

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.20 to $13.35. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 27, 2025 Filed Aug 28, 2025 20:15 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 200 $13.35 $2,669.00
Disclosure

SEC source: 0001641172-25-025810 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,350,875

F4 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.34 to $13.35. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 26, 2025 Filed Aug 28, 2025 20:15 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 7,053 $13.27 $93,564.39
Disclosure

SEC source: 0001641172-25-025810 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,350,675

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.24 to $13.30. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 25, 2025 Filed Aug 26, 2025 20:45 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 1,500 $13.10 $19,648.35
Disclosure

SEC source: 0001641172-25-025549 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,343,622

F4 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.95 to $13.24. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 22, 2025 Filed Aug 26, 2025 20:45 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 4,000 $13.09 $52,360.00
Disclosure

SEC source: 0001641172-25-025549 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,342,122

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.75 to $13.22. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 21, 2025 Filed Aug 22, 2025 20:15 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 9,059 $12.66 $114,652.52
Disclosure

SEC source: 0001641172-25-025217 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,338,122

F4 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.42 to $12.74. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 20, 2025 Filed Aug 22, 2025 20:15 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 15,433 $12.52 $193,188.75
Disclosure

SEC source: 0001641172-25-025217 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,329,063

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.47 to $12.6248. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 19, 2025 Filed Aug 20, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 10,560 $12.54 $132,393.89
Disclosure

SEC source: 0001641172-25-024982 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,313,630

F4 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.47 to $12.59. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 18, 2025 Filed Aug 20, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 20,047 $12.52 $250,944.34
Disclosure

SEC source: 0001641172-25-024982 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,303,070

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.46 to $12.65. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 13, 2025 Filed Aug 14, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 1,473 $12.87 $18,962.67
Disclosure

SEC source: 0001641172-25-024072 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,283,023

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.8041 to $13.12. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IVC, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 12, 2025 Filed Aug 14, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 30,000 $12.59 $377,763.00
Disclosure

SEC source: 0001641172-25-024072 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,281,550

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.27 to $12.755. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IVC, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 11, 2025 Filed Aug 12, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 30,000 $11.88 $356,460.00
Disclosure

SEC source: 0001641172-25-023208 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,251,550

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $11.71 to $12.265. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 08, 2025 Filed Aug 12, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 30,000 $12.52 $375,510.00
Disclosure

SEC source: 0001641172-25-023208 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,221,550

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.16 to $13.02. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 07, 2025 Filed Aug 8, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 25,104 $12.71 $319,081.88
Disclosure

SEC source: 0001641172-25-022778 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,191,550

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.43 to $13.055. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 06, 2025 Filed Aug 8, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 22,085 $13.01 $287,352.35
Disclosure

SEC source: 0001641172-25-022778 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,166,446

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.88 to $13.35. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 05, 2025 Filed Aug 6, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 26,117 $13.12 $342,594.97
Disclosure

SEC source: 0001641172-25-022436 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,144,361

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.92 to $13.30. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 04, 2025 Filed Aug 6, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 23,703 $13.00 $308,032.34
Disclosure

SEC source: 0001641172-25-022436 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,118,244

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.62 to $13.16. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 01, 2025 Filed Aug 4, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 795 $14.44 $11,477.57
Disclosure

SEC source: 0001641172-25-022049 · ownership.xml · nonDerivative · entry 4

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,094,541

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F7 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.35 to $14.54. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 01, 2025 Filed Aug 4, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 20,620 $13.66 $281,764.05
Disclosure

SEC source: 0001641172-25-022049 · ownership.xml · nonDerivative · entry 3

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,093,746

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F6 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.30 to $14.25. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 01, 2025 Filed Aug 4, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 8,585 $12.93 $111,030.66
Disclosure

SEC source: 0001641172-25-022049 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,073,126

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.29 to $13.29. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 31, 2025 Filed Aug 4, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 22,847 $14.74 $336,746.50
Disclosure

SEC source: 0001641172-25-022049 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,064,541

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.55 to $14.93. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 30, 2025 Filed Jul 31, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 17,303 $14.88 $257,511.90
Disclosure

SEC source: 0001641172-25-021754 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,041,694

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.66 to $15.135. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 29, 2025 Filed Jul 31, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 19,852 $14.88 $295,467.24
Disclosure

SEC source: 0001641172-25-021754 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,024,391

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.70 to $15.12. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 28, 2025 Filed Jul 29, 2025 21:01 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 11,934 $15.06 $179,726.04
Disclosure

SEC source: 0001641172-25-021404 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,004,539

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.9379 to $15.355. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 25, 2025 Filed Jul 29, 2025 21:01 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 10,264 $15.22 $156,259.14
Disclosure

SEC source: 0001641172-25-021404 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,992,605

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $15.1164 to $15.53. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 24, 2025 Filed Jul 25, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 8,980 $15.52 $139,335.48
Disclosure

SEC source: 0001641172-25-021019 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,982,341

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $15.39 to $15.76. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 23, 2025 Filed Jul 25, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 15,801 $15.64 $247,178.20
Disclosure

SEC source: 0001641172-25-021019 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,973,361

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $15.22 to $15.7448. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 22, 2025 Filed Jul 23, 2025 20:34 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 17,583 $15.40 $270,781.72
Disclosure

SEC source: 0001641172-25-020704 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,957,560

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $15.21 to $15.76. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 21, 2025 Filed Jul 23, 2025 20:34 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 16,467 $15.02 $247,363.98
Disclosure

SEC source: 0001641172-25-020704 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,939,977

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.8497 to $15.15. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 18, 2025 Filed Jul 21, 2025 20:53 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 20,004 $14.83 $296,709.33
Disclosure

SEC source: 0001641172-25-020421 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,923,510

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.67 to $15.22. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 17, 2025 Filed Jul 21, 2025 20:53 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 30,000 $14.62 $438,711.00
Disclosure

SEC source: 0001641172-25-020421 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,903,506

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.32 to $14.775. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 16, 2025 Filed Jul 17, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 22,402 $14.59 $326,751.09
Disclosure

SEC source: 0001641172-25-020060 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,873,506

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.38 to $14.83. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 15, 2025 Filed Jul 17, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 28,952 $14.69 $425,394.63
Disclosure

SEC source: 0001641172-25-020060 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,851,104

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.40 to $15.34. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 14, 2025 Filed Jul 15, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 21,137 $15.28 $322,924.74
Disclosure

SEC source: 0001641172-25-019732 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,822,152

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.98 to $15.835. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 11, 2025 Filed Jul 15, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 8,000 $14.76 $118,080.00
Disclosure

SEC source: 0001641172-25-019732 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,801,015

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.57 to $14.815. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 10, 2025 Filed Jul 11, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 16,943 $14.89 $252,338.88
Disclosure

SEC source: 0001641172-25-018770 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,793,015

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.63 to $15.08. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 09, 2025 Filed Jul 11, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 17,687 $14.54 $257,204.35
Disclosure

SEC source: 0001641172-25-018770 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,776,072

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.38 to $14.79. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 08, 2025 Filed Jul 9, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 28,700 $14.67 $421,003.17
Disclosure

SEC source: 0001641172-25-018415 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,758,385

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.40 to $14.81. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 07, 2025 Filed Jul 9, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 15,314 $14.40 $220,478.72
Disclosure

SEC source: 0001641172-25-018415 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,729,685

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.29 to $14.51. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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June 13, 2025 Filed Jun 16, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 6,000 $13.73 $82,363.20
Disclosure

SEC source: 0001641172-25-015260 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,714,371

F4 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.5537 to $13.81. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City Holdings, LP ("Hill City"). ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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June 12, 2025 Filed Jun 16, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 11,100 $13.85 $153,690.60
Disclosure

SEC source: 0001641172-25-015260 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,708,371

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.785 to $13.92. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City Holdings, LP ("Hill City"). ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.