Crown Castle (CCI) official guidance

We remain on track to deliver our outlook for the second half of 2026 and first half of 2027 AFFO of $2.1 billion at the midpoint.

| Core leasing activity(d) | 60 | to | 70 | 60 | to | 70 |

| Discretionary capital expenditures(c) | 190 | to | 290 | 40 |

Lastly, our outlook for discretionary CapEx remains unchanged at $200 million, or $160 million net of $40 million of prepaid rent received at the midpoint.

| Discretionary capital expenditures(c) | 150 | to | 250 | — |

Lastly, our outlook for discretionary CapEx remains unchanged at $200 million or $160 million, net of $40 million of prepaid rent received.

| Discretionary capital expenditures(b) | | 150 | to | 250 |

| Discretionary capital expenditures(b) | | 150 | to | 250 |

| Discretionary capital expenditures less prepaid rent additions | $150 | to | $250 | $110 | to | $210 |

Lastly, our outlook for discretionary CapEx remains unchanged at $200 million, or $160 million net of $40 million of prepaid rent received at the midpoint.

| Discretionary capital expenditures less prepaid rent additions | | | | $110 | to | $210 |

Yeah, I mean, as I look at where we end 2026, let's say all the way out to 2030, definitely think that we can do another, meaning in addition to the reduction we made, probably another well over 200 basis points in margin improvements.

The higher site rental revenues are driven by a $5 million increase to other billings, resulting in 3.4% full year 2026 organic growth, excluding the impact of Sprint cancellations and DISH terminations, compared to our prior guide of 3.3%.

When excluding DISH revenues from prior year site rental billing, our full-year outlook includes 3.5% organic growth, excluding the impact of Sprint cancellations and DISH terminations, which we expect to mark the low point.

Moving to Page 5, our full-year 2026 outlook includes organic growth at the midpoint of 3.3% or $130 million excluding the impact of Sprint cancellations and DISH terminations in 2026.

Full year 2026 organic growth increases to 3.6% if DISH revenues are excluded from prior year site rental billings, which compares to our prior guide of 3.5%.

| AFFO(c) | $1,950 | to | $2,000 | 5 |

At the midpoint of the range for full-year 2026, we expect site rental revenues of approximately $3.9 billion, adjusted EBITDA of approximately $2.7 billion and AFFO of approximately $1.9 billion.

| AFFO(d)(e) | | $1,895 | to | $1,945 | $4.38 | to | $4.49 |

At the midpoint, we are projecting site rental revenues adjusted EBITDA, and AFFO of $3.9 billion, $2.7 billion, and $1.9 billion which are meaningfully impacted by the following three items.

| AFFO(b) | | $1,895 | to | $1,945 |

| AFFO per share(c) | 4.53 | to | 4.65 | — |

| AFFO(d)(e) | | $1,895 | to | $1,945 | $4.38 | to | $4.49 |

| AFFO(d)(e) | | $1,895 | to | $1,945 | $4.38 | to | $4.49 |

| Amortization of prepaid rent | 65 | to | 95 | — |

| Amortization of prepaid rent | | 65 | to | 95 |

| Amortization of prepaid rent | | 65 | to | 95 |

| Site rental billings(c) | $3,805 | to | $3,835 | $5 |

| Site rental billings(b) | | $3,800 | to | $3,830 |

| Site rental billings(b) | | $3,800 | to | $3,830 |

| Depreciation, amortization and accretion | 627 | to | 722 | — |

| Depreciation, amortization and accretion | | 627 | to | 722 |

| Depreciation, amortization and accretion | | 627 | to | 722 |

| Weighted-average common shares outstanding—diluted | 430 | | | 430 | | | |

| Weighted-average common shares outstanding—diluted | 433 | | | 433 | | |

| Adjusted EBITDA(c) | 2,665 | to | 2,715 | — |

At the midpoint of the range for full-year 2026, we expect site rental revenues of approximately $3.9 billion, adjusted EBITDA of approximately $2.7 billion and AFFO of approximately $1.9 billion.

| Adjusted EBITDA(b) | | 2,665 | to | 2,715 |

At the midpoint, we are projecting site rental revenues adjusted EBITDA, and AFFO of $3.9 billion, $2.7 billion, and $1.9 billion which are meaningfully impacted by the following three items.

| Adjusted EBITDA(b) | | 2,665 | to | 2,715 |