Recent public news about the Trust mainly concerns scheduled ex-dividend dates and technical stock price movements, with no substantive operational updates.

• The Trust had a scheduled ex-dividend date on June 10, 2016, as reported by Nasdaq [N2].
• Ex-dividend dates were also scheduled on December 10, 2015, June 10, 2015, December 10, 2014, and December 12, 2012, reflecting periodic income distributions [N3][N4][N5][N6].
• A notable technical event was a two hundred day moving average cross reported on February 28, 2019, indicating a stock price technical indicator movement [N1].

The Trust provides investors with exposure to income generated by United States Cellular Corporation securities through a structured vehicle. Its periodic distributions and listing on a major exchange offer liquidity and income opportunities for investors seeking fixed-income-like instruments.

The Trust's lack of operational activity and reliance on the underlying issuer's performance exposes investors to risks related to the issuer's credit and business conditions. Limited public disclosure and absence of detailed financial data reduce transparency and increase uncertainty for investors.

The Trust's structure as a pass-through entity holding securities of United States Cellular Corporation provides a defined legal and operational framework. However, the Trust does not engage in active business operations or product development, limiting competitive advantages to its legal and structural setup rather than market or technological moats.

• Issuer Credit Risk: The Trust's sole assets are securities of United States Cellular Corporation, so its performance and distributions depend entirely on the issuer's financial health and creditworthiness.
• Limited Transparency: The Trust does not provide detailed business or financial disclosures, limiting investor insight into its operations and underlying asset quality.
• Market and Liquidity Risk: Although listed on the NYSE, the Trust's certificates may have limited trading volume and price volatility, affecting liquidity and market pricing.

• The company is the STRATS Trust for United States Cellular Corporation Securities, Series 2004-6, formed pursuant to a Base Trust Agreement dated September 26, 2003, with Synthetic Fixed-Income Securities, Inc. as depositor and U.S. Bank Trust National Association as trustee and securities intermediary.
• The Trust holds as its sole assets securities issued by United States Cellular Corporation, which is subject to SEC reporting requirements under Exchange Act file number 001-09712.
• Distributions are made periodically to holders of the certificates issued by the Trust, with recent distributions reported on June 16, 2025, and December 15, 2025.
• Neither Synthetic Fixed-Income Securities, Inc. nor the Trustee participates in the preparation or verification of the underlying issuer's SEC filings and does not verify the accuracy or completeness of such documents.
• The Trust's certificates are listed on the New York Stock Exchange but do not have a trading symbol; the market price was $9.94 as of March 30, 2026.
• The company does not provide detailed business operations, financial results, or risk factors in its SEC filings, and no legal proceedings were reported as of the latest filings.
• Recent public news primarily relates to scheduled ex-dividend dates and technical stock price movements, with no substantive business updates disclosed.