American Tower — Apr 29, 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 $610 million of development spend in the Company’s Data Centers segment. 4 Reconciliation of Outlook for Adjusted EBITDA to Net income: ($ in millions, totals may not add due to rounding.) Full Year 2025 Net income $ 2,740  to $ 2,840  Interest expense 1,370  to 1,350  Depreciation, amortization and accretion 2,000  to 2,010  Income tax provision 375  to 365  Stock-based compensation expense 170  — 170  Other, including other operating expenses, interest income, (gain) loss on retirement of long-term obligations and other (income) expense 230  to 220  Adjusted EBITDA $ 6,885  to $ 6,955  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 $ 2,740  to $ 2,840  Straight-line revenue (61) — (61) Straight-line expense 39  — 39  Depreciation, amortization and accretion 2,000  to 2,010  Stock-based compensation expense 170  — 170  Deferred portion of income tax and other income tax adjustments 1