American Tower — Feb 25, 2025 release

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 obligations, other (income) expense and long-term deferred interest charges 203  — 203  Capital improvement capital expenditures (145) to (155) Corporate capital expenditures (10) — (10) Adjustments and distributions for unconsolidated affiliates and noncontrolling interests (365) — (365) AFFO attributable to AMT common stockholders $ 4,830  to $ 4,920  Divided by weighted average diluted shares outstanding (in thousands) 468,700  — 468,700  AFFO attributable to AMT common stockholders per Share $ 10.31  to $ 10.50  Reconciliation of Outlook for EBITDA to AFFO attributable to AMT common stockholders and AFFO attributable to American Tower Corporation common stockholders per Share: ($ in millions, except share and per share data, totals may not add due to rounding.) Full Year 2025 Adjusted EBITDA $ 6,855  to $ 6,925  Straight-