Crown Castle — Oct 22, 2025 release

Management has signed a definitive agreement ("Agreement") to sell the Fiber Business with EQT Active Core Infrastructure fund ("EQT") acquiring the small cells business and Zayo Group Holdings Inc. ("Zayo") acquiring the fiber solutions business ("Transaction") for $8.5 billion in aggregate, subject to certain closing adjustments. The Transaction is expected to close in the first half of 2026 subject to certain closing conditions and required government and regulatory approvals. Pending the closing of the Transaction, we will continue to operate the Fiber Business in accordance with the Agreement.     The pathway to possible.      CrownCastle.com News Release continued: Page 9 Reconciliation of Historical Adjusted EBITDA: For the Three Months Ended For the Nine Months Ended For the Twelve Months Ended (in millions; totals may not sum due to rounding) September 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024 December 31, 2024 Net income (loss) (a) $ 323  $ 303  $ 150  $ 865  $ (3,903) Adjustments to increase (decrease) net income (loss): Asset write-down charges 3  2  7  10  11  Depreciation, amortization and accretion 167  181  520  552  736  Restructuring charges (b) —  38  —  67  70  Amortization of prepaid lease purchase price adjustments 4  4  11  12  16  Interest expense and amortization of deferred financing costs, net (c) 247  236  726  692  932  Interest income (3) (6) (10) (14) (20) Other (income) expense —  5  (3) 3  26  (Benefit) provision for income taxes 4  3  13  14  18  Stock-based compensation expense, net 19  19  55  69  84  (Income)