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VANTAGE TOWERS Vantage Towers AG : FV21 Preliminary Announcement 17 May 2021 Vantage Towers well positioned to capture future growth opportunities Sustained commercial momentum continues across the business : ✓ Delivered c.1,800¹ new tenancies in FY21 with a tenancy ratio of 1.40x , ahead of FY21 pro forma guidance Deployed c.600¹ sites against our target of 550 ● Successful listing on the Prime Standard segment of the Frankfurt Stock Exchange completed in March 2021 with a valuation currently implying a market capitalisation of over € 13bn € 2.2bn debut bond offering completed with very strong investor support Financial results in line with FY21 pro forma guidance Intention to propose a dividend of approximately € 280m , in line with guidance FY22 guidance announced : revenue € 995- € 1,010m , EBITDAaL margin broadly stable and recurring free cash flow of € 390- € 400m . Medium - term targets reaffirmed Consolidated financial results summary ( € m ) ● ✓ Two framework extension agreements signed in Q4 , in addition to the new agreements announced at Q3 ● Group Revenue Group Operating Profit Profit Before Tax Cash generated by operations Based on the timing and nature of the carve - out of the European tower infrastructure and formation of the Group assets , two key facts are relevant to consider when reviewing the above results of the Group : Consolidated pro forma highlights² , ³ , 4 ( € m ) Revenue ( ex . pass through ) Adj . EBITDAaL Recurring free cash flow ( RFCF ) The consolidated financial performance of the Group reflects the inclusion of a ) the Company from May 25 , 2020 , and as such the results of the German operations ; b ) the Spain , Portugal , the Czech Republic , Hungary , Romania and Ireland markets , and the 33.2 % interest in INWIT from December 17 , 2020 following the acquisition of CTHC ; c ) Vantage Towers Greece from December 22 , 2020 ; and d ) the 50 % holding in Cornerstone from January 14 , 2021 . In accordance with IFRS 10 Vantage Towers has not included the financial information of the tower assets prior to the date it obtained control . Accordingly , the above table does not contain any comparisons to prior periods . For more information , please contact : Investor Relations www.vantagetowers.com/investors FY20PF ( unaudited ) ir@vantagetowers.com Media Relations 945 513 375 FY21PF ( unaudited ) Vivek Badrinath , CEO of Vantage Towers AG , commented : After the biggest milestone in our company's history to date - listing on the Frankfurt Stock Exchange - these are our first annual results as a stand - alone company . I am pleased that we have fully delivered on our FY21 operational and financial targets and we remain focused on commercialising our business and delivering our medium - term targets . www.vantagetowers.com/media media@vantagetowers.com FY21 ( unaudited ) Europe's digital transformation is accelerating , and we are central to its growth . As a 5G super host we are a key enabler for the 5G roll - out . Mobile operators are expanding their networks to manage increasing data traffic , and they value the quality of our grid . This underscores our confidence in the future . We are working to grow our revenues and deliver our efficiency programmes to provide attractive returns for our shareholders and make a significant contribution to better connectivity and the sustainable digitisation of Europe . 966 524 384 C2 General Registered office : Vantage Towers AG , Prinzenallee 11-13 , D - 40549 , Düsseldorf , Germany . Amtsgericht Düsseldorf , HRB 92244 . 545 287 218 329 Movement % + 2.2 % + 2.1 % + 2.4 % V