BOSTON OMAHA Corp — Form 10-Q

FIF Utah LLC (Boston Omaha subsidiary) signed ReCONNECT Program agreement with USDA Rural Utilities Service on July 15, 2025. Terms: $11.48M loan + $11.48M grant = $22.968M total for rural Utah broadband infrastructure. Loan matures 22 years from Release of Funds; 3-year deferral period, then monthly amortization. Boston Omaha Corporation guarantees repayment. Agreement requires 100 Mbps symmetrical service delivery, affordable pricing tiers, net neutrality compliance, and labor standards through Project Completion (5 years from Release). Security: first lien on all FIF Utah assets including grant assets through Service Obligation (19-year Composite Economic Life). Intercreditor agreement with First National Bank of Omaha required. No Schedule 1 loan/grant amounts disclosed in exhibit text beyond the main agreement.