American Tower — Feb 25, 2025 release

Outlook for Capital Expenditures: ($ in millions, totals may not add due to rounding.) Full Year 2025 Discretionary capital projects (1) $ 880  to $ 910  Ground lease purchases 190  to 210  Start-up capital projects 50  to 70  Redevelopment 360  to 390  Capital improvement 145  to 155  Corporate 10  — 10  Total $ 1,635  to $ 1,745  _______________ (1) Includes the construction of 1,950 to 2,550 communications sites globally and $610 million of development spend in the Company’s Data Centers segment. Reconciliation of Outlook for Adjusted EBITDA to Net income: ($ in millions, totals may not add due to rounding.) Full Year 2025 Net income $ 2,930  to $ 3,020  Interest expense 1,375  to 1,355  Depreciation, amortization and accretion 1,985  to 1,995  Income tax provision 345  to 335  Stock-based compensation expense 178  — 178  Other, including other operating expenses, interest income, (gain) loss on retirement of long-term obligations and other (income) expense 42  — 42  Adjusted EBITDA $ 6,855  to $ 6,925  4 Reconciliation of Outlook for AFFO attributable to AMT common stockholders to Net income: ($ in millions, except share and per share data, totals may not add due to rounding.) Full Year 2025 Net income $ 2,930  to $ 3,020  Straight-line revenue (62) — (62) Straight-line expense 39  — 39  Depreciation, amortization and accretion 1,985  to 1,995  Stock-based compensation expense 178  — 178  Deferred portion of income tax and other income tax adjustments 77  — 77  Other, including other operating expense, amortization of deferred financing costs, debt discounts and premiums, (gain) loss on retirement of long-term ob