Crown Castle — Jul 22, 2026 release

     CrownCastle.com News Release continued: Page 4 (in millions, except per share amounts) Full Year 2026 Outlook (a) Changes to Midpoint from Previous Outlook (b) Site rental billings (c) $3,805 to $3,835 $5 Amortization of prepaid rent 65 to 95 — Straight-lined revenues (75) to (45) — Other revenues 15 to 15 — Site rental revenues 3,833 to 3,878 5 Site rental costs of operations (d) 968 to 1,013 10 Services and other gross margin 70 to 100 (20) Net income (loss) (e) 730 to 1,010 40 Net income (loss) per share—diluted (e) 1.70 to 2.35 0.08 Adjusted EBITDA (c) 2,665 to 2,715 — Depreciation, amortization and accretion 627 to 722 — Interest expense and amortization of deferred financing costs, net (f) 787 to 832 (5) Income (loss) from discontinued operations, net of tax (g) (360) to (80) — FFO (c) 1,730 to 1,760 40 AFFO (c) 1,950 to 2,000 5 AFFO per share (c) 4.53 to 4.65 — Discretionary capital expenditures (c) 150 to 250 — (a) As issued on July 22, 2026. (b) As issued on May 1, 2026. (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 through April 30, 2026. (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, through April 30, 2026. • The following chart reconciles the components contributing to the expected 2026 decrease in site rental revenues. • Change in other billings is expected to increase $5 million from the previous Outlook primarily from higher back-billings.     The pathway to possible.      CrownCastle.com News Release continued: Page 5 • Full year 2026 Organic Contribution to Site Rental Billings, excluding the i