Slide 1: Third Quarter 2017 Earnings Conference Call
CROWN ( Sf CASTLE The Foundation for a Wireless World Third Quarter 2017 Earnings Conference Call October 19, 2017 The Foundation for a Wireless World.
Slide 2: Cautionary Information
Se Cautionary Information This presentation contains forward-looking statements and information that are based on management's current expectations. Such statements include our Outlook and plans, projections, and estimates regarding (1) potential benefits, returns, opportunities and shareholder valu
Slide 3: Executive Summary
Executive Summary e« Third quarter results for site rental revenues and Adjusted EBITDA were at the high end of previously provided third quarter 2017 Outlook, while AFFO exceeded the high end of guidance ° Increased midpoint of full year 2017 Outlook for site rental revenues by $8 million, reflecti
Slide 4: Q3 2017 Highlights
Q3 2017 Highlights“ Cee ee on ($ in millions) i _| Reported Results Site Rental Revenues Adjusted EBITDA AFFO $888 to $600 $447 $893 $893 to to $812 $564 $605 $605 $452 $459 $416 y $2 y $2 t $9 Q3'16A Previous Q3'17A Q3'16A Previous Q3'17A Q3 '16A Previous Q3'17A Q3'17 Q3'17 Q3'17 Outlook Outlook Ou
Slide 5: 2017 Outlook
Full Year 2017 Outlook® Reported Results Previous Outlook Issued on July 19, 2017 ($ in millions) i) a Outlook Issued on October 18, 2017 Site Rental Revenues Adjusted EBITDA AFFO 2,389 2,399 an aa ° to . to $1,813 $1,823 2,414 2,404 to to $3,233 $3,529 $3,527 $2,228 $ $ $1,838 $1,828 $1,610 + $8 No
Slide 6: 2018 Outlook: AFFO
Full Year 2018 Outlook ($ in millions) Site Rental Revenues Adjusted EBITDA AFFOO $4,546 $3,013 to to $4,591 $2,399 $3,058 $3522 to $2,219 to $3,527 $2,404 $1,823 $2,264 to $1,828 2017 Outlook 2018 Outlook 2017 Outlook 2018 Outlook 2017 Outlook” 2018 Outlook * 2018 Outlook reflects expected accelera
Slide 7: 2018 Outlook for Site Rental Revenue Growth
Full Year 2018 Outlook 2018 Outlook for Site Rental Revenue Growth ($ in millions) Components of Site Rental Revenue Growth $4,569 $3,525 t ~$1,044 / -30% $885 $1,020 to to $905 $1,065 $80 ($95) $190 to to $185 ($65) to $90 ($75) to to 20 MM 25D | New Plus: Less: Organic Less: Change Plus: Growth in
Slide 8: 2018 Outlook for AFFO Growth (continued)
Full Year 2018 Outlook (continued) 2018 Outlook for AFFO Growth C$ in millions) $335 $440 to to $355 $480 $185 to $225 _ wn [| ($80) ($10) to to ($30) to ($50) $10 ($10) Organic Increase in Change in Conversion of Other Incremental 2018E Contribution to Site Expenses Network Services Mandatory Contr