Crown Castle — Oct 22, 2025 release

     CrownCastle.com News Release continued: Page 4 (in millions, except per share amounts) Full Year 2025 (a) Changes to Midpoint from Previous Outlook (b) Site rental billings (c) $3,895 to $3,925 $— Amortization of prepaid rent $80 to $110 $— Straight-lined revenues ($5) to $25 $10 Other revenues $15 to $15 $— Site rental revenues $4,007 to $4,052 $10 Site rental costs of operations (d) $967 to $1,012 ($5) Services and other gross margin $80 to $110 $5 Net income (loss) (e) $145 to $425 $45 Net income (loss) per share—diluted (e) $0.33 to $0.97 $0.10 Adjusted EBITDA (c) $2,810 to $2,860 $30 Depreciation, amortization and accretion $678 to $773 $— Interest expense and amortization of deferred financing costs, net (f) $957 to $1,002 ($15) Income (loss) from discontinued operations, net of tax (g) ($830) to ($590) $— FFO (c) $1,690 to $1,720 $45 AFFO (c) $1,845 to $1,895 $40 AFFO per share (c) $4.23 to $4.35 $0.09 Discretionary capital expenditures (c) $155 to $155 ($30) Discretionary capital expenditures from discontinued operations (c)(h) $920 to $1,020 $— (a) As issued on October 22, 2025. (b) As issued on July 23, 2025. (c) See " Non-GAAP Measures and Other Information " for further information and reconciliation of non-GAAP financial measures to net income (loss), including on a per share basis, and for definition of site rental billings and discretionary capital expenditures. (d) Exclusive of depreciation, amortization and accretion. (e) Includes contribution from discontinued operations. (f) See " Non-GAAP Measures and Other Information " for the reconciliation of " Outlook for Components of Interest Expense." (g) Represents expected results from the Fiber Business, including the estimated loss on disposal. (h) Represents discretionary capital expenditures for the Fiber Business. • The following chart reconciles the components contributing to the expected 2025 decrease in site rental revenues. Full year site rental billings growth, excluding the impact of Sprint Cancellations, is expected to be 4.7%.     The pathway to possible.      CrownCastle.com News Release continued: Page