American Tower — Apr 29, 2025 release

2025 Outlook for Total Tenant Billings Growth, at the midpoint, includes the following components (1) : (Totals may not add due to rounding.) U.S. & Canada Property International Property (2) Total Property Organic Tenant Billings ≥4.3% ~6% ~5% New Site Tenant Billings ~0% ~1% ~0.5% Total Tenant Billings Growth ≥4.3% ~7% ~5.5% _______________ (1) For additional discussion regarding the component growth rates, please refer to “Revenue Components” below. Tenant Billings Growth is not applicable to the Data Centers segment. For additional details related to the Data Centers segment, please refer to the supplemental disclosure package available on the Company’s website. (2) International property Tenant Billings Growth reflects the Company’s Africa & APAC, Europe and Latin America segments. 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 $610 million of development spend in the Company’s Data Centers segment. 4 Reconciliation of Outlook for Adjusted EBITDA to Net income: ($ in millions, totals may not add due to rounding.) Full Year 2025 Net income $ 2,740  to $ 2,840  Interes