American Tower (AMT) official guidance

Our revised outlook now implies growth of approximately 3% year-over-year.

Our revised outlook now implies growth of approximately 2% year-over-year.

Turning to AFFO on slide 11, our 2026 outlook assumes attributable AFFO per share growth of approximately 1% year-over-year.

Normalized for the impact of one-time DISH-related churn and excluding the impact of refinancing costs, our outlook for attributable AFFO per share growth implies nearly 6% growth.

Normalized for the impact of one-time DISH-related churn and excluding the impact of refinancing costs, our outlook for attributable AFFO per share growth implies approximately 5% growth on an FX neutral basis.

Normalized for the impact of one-time DISH-related churn and excluding the impact of FX and refinancing costs, our outlook for attributable AFFO per share growth implies approximately 5% growth.

As a reminder, we continue to expect our services business growth to represent an approximately 100 basis point headwind to attributable AFFO per share growth this year.

Due to higher interest rates, we now expect our debt refinancings to be an approximately 150 basis point headwind to attributable AFFO per share growth this year, up from an approximately 100 basis point headwind in our prior outlook.

We continue to expect to spend approximately 85% of our discretionary capital within our developed markets platforms, including over $700 million to develop more capacity in our data center portfolio.

(1)Includes the construction of 1,700 to 2,300 communications sites globally and $695 million of development spend in the Company’s Data Centers segment.

In 2026, our growth capital plan remains consistent with our prior outlook. We continue to expect to spend approximately 85% of our discretionary capital within our developed markets platforms, including over $700 million in success-based investments in our data center portfolio to replenish elevated levels of capacity, purchases of land beneath our tower sites, and continued acceleration in European new builds with over 700 new sites planned.

Includes the construction of 1,700 to 2,300 communications sites globally and $695 million of development spend in the Company’s Data Centers segment.

Approximately 85% of our discretionary spend is directed towards our developed market platforms, including over $700 million in success-based investments in our data center portfolio to replenish elevated levels of capacity sold over the past several years.

Includes the construction of 1,700 to 2,300 communications sites globally and $695 million of development spend in the Company’s Data Centers segment.

| Total | $ | 1,765 | to | $ | 1,875 |

Approximately $370 million to construct new towers globally

| Total | $ | 1,805 | to | $ | 1,915 |

| Total | $ | 1,800 | to | $ | 1,910 |

| Total | $ | 1,795 | to | $ | 1,905 |

In 2026, our growth capital plan remains consistent with our prior outlook. We continue to expect to spend approximately 85% of our discretionary capital within our developed markets platforms, including over $700 million to develop more capacity in our data center portfolio. Approximately $370 million to construct new towers globally and approximately $210 million to purchase land beneath our towers.

In 2026, our growth capital plan remains consistent with our prior outlook. We continue to expect to spend approximately 85% of our discretionary capital within our developed markets platforms, including over $700 million in success-based investments in our data center portfolio to replenish elevated levels of capacity, purchases of land beneath our tower sites, and continued acceleration in European new builds with over 700 new sites planned.

Our revised outlook now implies over 2% growth year-over-year, excluding non-cash net straight-line and FX impacts.

Normalized for one-time impact of DISH-related churn, our outlook for adjusted EBITDA implies approximately 5% growth on a cash FX neutral basis.

Normalized to the one-time impact of DISH-related churn, our outlook for adjusted EBITDA implies approximately 5% growth on a cash FX neutral basis.

Normalized for the one-time impact of DISH-related churn, our outlook for cash-adjusted EBITDA implies approximately 5% growth.

| Organic Tenant Billings | ~0.5% | (~3%) | ~8.5% | ~4% | ~1% |

| Organic Tenant Billings | ~0.5% | (~3%) | ~8.5% | ~4% | ~1% |

We are reiterating organic growth assumptions across all regions and continue to expect Organic Tenant Billings Growth of approximately 1% or approximately 4% when excluding DISH churn and data center growth of approximately 13% year-over-year.

| Organic Tenant Billings | ~0.5% | (~3%) | ~8.5% | ~4% | ~1% |

For 2026, we expect consolidated Organic Tenant Billings Growth of approximately 1% or approximately 4%, excluding DISH churn.

We are reiterating organic growth assumptions across all regions and continue to expect Organic Tenant Billings Growth of approximately 1% or approximately 4% when excluding DISH churn and data center growth of approximately 13% year-over-year.

For 2026, we expect consolidated Organic Tenant Billings Growth of approximately 1% or approximately 4%, excluding DISH churn.

We have not reduced our outlook for services revenue, so we are maintaining that $245 million of services revenue.

This year, we're gonna have our third-highest revenue year ever.