Continental Towers Majority Shareholders Will Pursue Counterclaims Following Conclusion of Disputed Arbitration Process

Terra Towers, the majority shareholder of Continental Towers along with TBS Management and DT Holdings, today issued the following statement regarding the conclusion of arbitration proceedings marked by irregularities and controversies.

On November 11, 2025, the arbitration tribunal issued its final award and ended the proceedings after what the Company characterizes as an irregular process. The tribunal declined to award further damages and terminated the procedure minutes after the chair had published an unsubstantiated post attacking the respondent parties in his personal blog, thereby insulating itself from being challenged on bias. However, the final award does specifically prescribe that any remaining claims and counterclaims can now be brought by the majority shareholders before a new independent tribunal.

Despite misleading comments from the minority shareholders led by TPG Perpertree, the dispute is far from over, and the majority shareholder is determined to bring all facts to light. Terra Towers welcomes the conclusion of this arbitration and announces its determination to pursue counterclaims. From the perspective of the majority shareholders, the process was marred by clear procedural irregularities, including a May 2025 injunction that was ordered without providing the affected party with notice or opportunity to be heard, as well as an October 2025 attempt to control the docket for the case before the Southern District of New York, which was rejected by the court. It is the position of Terra Towers that the arbitration panel on numerous instances made findings of fact without providing adequate notice or opportunity to respond, raising serious questions regarding fundamental fairness.

Lastly, the majority shareholders of Continental Towers believe that the repeated personal blog posts of the arbitration panel chair, as well as the alleged attempts to use the tribunal to weigh in and override open law enforcement matters before sovereign courts in Guatemala and El Salvador represent a series of actions ultra vires far outside the mandate of the ICDR panel.

The Company intends to pursue all available remedies through appropriate legal channels and will now continue to communicate the facts of the case now that the arbitration procedure has concluded.

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James Kimer

Media Representative

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