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VANTAGE TOWERS Vantage Towers AG : FY22 Half Year Results 15 November 2021 Delivering on our commitments as a commercially minded and independent TowerCo Commercialisation of our tower footprint continues , adding additional tenancies and optimising our ground lease base ● ● ✓ In H1 FY22 we added more than 670 non - Vodafone tenancies with more than 370 non - committed additions : Closing tenancy ratio of 1.42x ✓ Growing our commercial footprint in Hungary , Ireland and Czech Republic whilst expanding our value proposition in Internet of Things ( " loT " ) and Distributed Antennae Systems ( " DAS " ) Our Ground Lease Buyout ( " GLBO " ) programme is progressing well with 250 signed agreements in Spain and Germany and over 60 in other markets Group Revenue ( ex . pass through ) was 494m EUR in H1 FY22 , a 2.5 % increase over H1 FY21 pro forma revenue FY22 Guidance for Revenue and EBITDAaL margin unchanged . FY22 RFCF guidance increased : C2 General FY22 Revenue ( ex . pass through ) of 995m - 1,010m EUR and EBITDAaL margin broadly stable : unchanged and re - affirmed . Recurring free cash flow ( RFCF ) guidance increased to 405m - 415m EUR driven by a combination of optimising both borrowing costs and cash tax expenses . Consolidated financial results summary ( EUR m ) Group Revenue Operating Profit Profit Before Tax Cash generated by operations Financial Performance ( EUR m ) ¹ Revenue ( ex . pass through ) Adj . EBITDA Adj . EBITDAAL³ Recurring Free Cash Flow Investor Relations www.vantagetowers.com/investors ir@vantagetowers.com ( i ) The comparative information for H1 FY21 includes only the financial results relating to the tower business in Germany following its hive - down on 25 May 2020. No other operational units were consolidated between 1 April 2020 and 30 September 2020 since Management does not consider it appropriate to include financial information for the other operational units prior to their acquisition . Accordingly , the current year results are not directly comparable to the interim period for the prior year H1 FY21 ( ¹ ) ( unaudited ) 161 90 83 n / a Media Relations H1 FY21 pro forma 2 ( unaudited ) 482 416 266 200 1 H1 FY22 ( unaudited ) www.vantagetowers.com/media media@vantagetowers.com 499 257 219 441 Vivek Badrinath , CEO of Vantage Towers AG , commented : Our business development continues with momentum . Thanks to our high - quality powerful value propositions across our footprint in Europe and an excellent and highly motivated team , we made good progress across all our objectives . We increased tenancies at pace in the recent months and signed promising new partnerships . Our operational focus on putting in place the components of a high performing and commercially minded infrastructure operator is delivering its first results . H1 FY22 ( unaudited ) 494 427 268 284 Movement + 2.5 % + 2.6 % + 0.8 % n / a4 & 5 V