ex99_1.htm

2Q 2009 Earnings Conference Call

July 29, 2009

Exhibit 99.1

Safe Harbor Statement

This presentation includes “forward-looking statements” within the meaning of Section
27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as
amended, regarding, among other things, our business strategy, our prospects and our
financial position. These statements can be identified by the use of forward-looking
terminology such as “believes,” “estimates,” “expects,” “intends,” “may,” “will,”
“should,” “could,” or “anticipates” or the negative or other variation of these similar
words, or by discussions of strategy or risks and uncertainties. These statements are
based on current expectations of future events. If underlying assumptions prove
inaccurate or unknown risks or uncertainties materialize, actual results could vary
materially from the Company’s expectations and projections. Important factors that
could cause actual results to differ materially from such forward-looking statements
include, without limitation, risks related to the following:

qIncreasing competition in the communications industry; and

qA complex and uncertain regulatory environment.

A further list and description of these risks, uncertainties and other factors can be found
in the Company’s SEC filings which are available online at www.sec.gov,
www.shentel.com or on request from the Company. The Company does not undertake
to update any forward-looking statements as a result of new information or future
events or developments.

Use of Non-GAAP Financial Measures

Included in this presentation are certain non-GAAP financial measures that are not
determined in accordance with US generally accepted accounting principles. These
financial performance measures are not indicative of cash provided or used by operating
activities and exclude the effects of certain operating, capital and financing costs and
may differ from comparable information provided by other companies, and they should
not be considered in isolation, as an alternative to, or more meaningful than measures
of financial performance determined in accordance with US generally accepted
accounting principles. These financial performance measures are commonly used in the
industry and are presented because Shentel believes they provide relevant and useful
information to investors. Shentel utilizes these financial performance measures to
assess its ability to meet future capital expenditure and working capital requirements, to
incur indebtedness if necessary, return investment to shareholders and to fund
continued growth. Shentel also uses these financial performance measures to evaluate
the performance of its businesses and for budget planning purposes.

Chris French

CEO and President

2Q ‘09 Highlights

q Net Income - 2Q ‘09 net income of
$6.7 million

q Discontinued Operations -
Converged Services sale in progress

q Operating results - Net income from
continuing operations of $6.8 million

Net Income (in millions)

Net Income from Continuing Operations
(in millions)

2Q ‘09 Highlights

n Cable Triple Play - Covington, VA
upgrade of cable plant complete,
upgrade of significant remaining
markets in progress, billing systems
transitioned

n Investment in wireless for
sustained growth - 41 additional
EVDO sites and 13 additional cell sites

n Acquisition of Rural Access Lines
- North River Co-op membership
approved sale of approximately
1,000 rural access lines for $600k,
upgrading to DSL for $1.0 m

Number of Cell Sites

Adele Skolits

CFO and VP of Finance

EPS

Earnings Per Share

Earnings per Share from Continuing
Operations

- Quarter over Quarter

n EPS - EPS of $.29 for 2Q ’09

n Delivering value for
Shareholders - EPS from
continuing operations $.29 in 2Q
‘09

Segment Results - Operating Income

Wireless

n Average customers up 9% and Gross billings up 14%

n Operating costs associated with PCS network upgrades of $.5 million

n Non-recurring income - 2Q ‘08 included receipt of $1.1 in USF funds from Sprint for prior
periods

Wireline

n Increased network and depreciation associated with network enhancements of $.5 million

Cable

n The acquired cable operations will continue to impact earnings; it added $1.1 million to the
net operating loss in 2Q ’09

Profitability

OIBDA for the Quarter Ended ($ millions)

Maintaining profitability while investing in growth

Cash Flows

Cash Flows ($ millions)

n Strong operating cash flow -
92% growth in cash generated by
operations

n Capex Well Supported-
Increased capital expenditures
supported more than adequately by
operating cash flow and debt
facility

n Future Cash Flows - New debt
facility has equal amortization over
six years beginning in 2010, when
CAPEX spending is expected to
drop

n Positioned to deliver for
shareholders - Ability to be
opportunistic or return value to
shareholders

Earle MacKenzie

EVP and COO

Key Operational Results - PCS

Retail Subscribers (000s)

Key Operational Results - PCS

Gross Additions

Net Additions

n Modest decrease in churn
from 2.15% in Q1 ‘09 to
2.07% in Q2 ‘09, but an
increase from 1.74% in
Q2 ‘08

n Lower bad debt in Q2 ‘09
compared to Q2 ’08 (from
$1.8m to $1.6m)

Key Operational Results - PCS

Gross Billed Revenue per User - Data &
Voice 1

n Gross Billed revenue per
subscriber continues to
grow - Data revenues
growth continues

1 - Before Service credits, bad debt, Sprint Nextel fees. See reconciliation of Non-GAAP financial measures on slide 23.
Prior to January 1, 2009 and consistent with Sprint’s methodology, 30% of service plans which included voice and data
revenue were allocated to data ARPU. Subsequently, Sprint specifically identified in its affiliate reporting the amount
related to data and voice revenues.