Equinix — Jul 30, 2025 release

4 Business Outlook 2025 Guidance (in millions, except per share data) Prior FY 2025 Guidance Guidance Adjustment Foreign Exchange Impact Revised FY 2025 Guidance Q3 2025 Guidance Revenues $9,175 - 9,275 +$5 +$53 $9,233 - 9,333 $2,314 - 2,334 Adjusted EBITDA Adjusted EBITDA Margin % $4,471 - 4,551 ~49% +$21 +$25 $4,517 - 4,597 ~49% $1,139 - 1,159 49 - 50% AFFO $3,675 - 3,755 +$17 +$11 $3,703 - 3,783 AFFO per Share (Diluted) $37.36 - 38.17 +$0.20 +$0.11 $37.67 - 38.48 Non-recurring Capital Expenditures (includes xScale) $3,168 - 3,398 +$449 +$28 $3,520 - 4,000 Recurring Capital Expenditures % of revenues $258 - 278 ~3% +$11 +$3 $272 - 292 ~3% $70 - 90 3 - 4% Expected Cash Dividends ~$1,836 - - ~$1,836 For the third quarter of 2025, the company expects revenues to range between $2.314 and $2.334 billion, an increase of 3% at the midpoint over the previous quarter on an as-reported basis or 2% on a normalized and constant currency basis. This guidance includes a $27 million foreign currency benefit when compared to the average FX rates in Q2 2025. Adjusted EBITDA is expected to range between $1.139 and $1.159 billion. This guidance includes a $14 million foreign currency benefit when compared to the average FX rates in Q2 2025. Recurring capital expenditures are expected to range between $70 and $90 million. For the full year of 2025, total revenues are expected to range between $9.233 and $9.333 billion, an as-reported increase of approximately 6 - 7% over the previous year, or a normalized and constant currency increase of approximately 7 - 8%. This $58 million increase from previously issued guidance is due to a $53 million foreign currency benefit when compared to the prior guidance rates and a $5 million impact from our TIM acquisition. Adjusted EBITDA is expected to range between $4.517 and $4.597 billion, reflecting an adjusted E