American Tower — Jul 29, 2025 release

(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) $ 865  to $ 895  Ground lease purchases 200  to 220  Start-up capital projects 65  to 85  Redevelopment 320  to 350  Capital improvement 155  to 165  Corporate 10  — 10  Total $ 1,615  to $ 1,725  _______________ (1) Includes the construction of 1,850 to 2,450 communications sites globally and $600 million of development spend in the Company’s Data Centers segment. 4 Reconciliation of Outlook for Adjusted EBITDA to Net income: ($ in millions, totals may not add due to rounding.) Full Year 2025 Net income $ 2,340  to $ 2,440  Interest expense 1,385  to 1,365  Depreciation, amortization and accretion 2,040  to 2,050  Income tax provision 435  to 425  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 635  to 625  Adjusted EBITDA $ 7,005  to $ 7,075  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 $ 2,340  to $ 2,440  Straight-line revenue (87) — (87) Straight-line expense 36  — 36  Depreciation, amortization and ac