Crown Castle Inc. · NYSE:CCI
Crown Castle — Investor Presentation (November 2020)
17 slides from Crown Castle's investor presentation, November 2020
Slide 1: Company Overview
Company Overview November 2020 The pathway to possible.
Slide 2: Cautionary Information
Cautionary Information This presentation contains forward-looking statements and information (“Forward-Looking Statements”) that are based on our management's current expectations. Statements that are not historical facts are hereby identified as Forward-Looking Statements. In addition, words such a
Slide 3: Overview of Crown Castle
Overview of Crown Castle PAGE 3 PROPRIETARY
Slide 4: Crown Castle at a Glance
Crown Castle at a Glance Leading Provider of Shared Communications Infrastructure in the U.S. ~80K 5 Years Route Miles of Weighted Average $23BN >40K Fiber Remaining Remaining Supporting Contracted Towers(1) Customer Customer >70K Contract Receivables(4) Term(3) Small Cells(1,2) 7-8% $90BN $5.32 3.2
Slide 5: Leading Portfolio of Shared Communication Infrastructure Assets
Leading Portfolio of Shared Communication Infrastructure Assets 2 >70K 1 >40K Small Cells Towers Enable additional network Provide the critical foundation densification by offloading for coverage and capacity traffic and bolstering capacity in the areas of the network where data demand is the greate
Slide 6: Maximizing Shareholder Value by Focusing on Growing Long-Term, High Quality Dividends
Maximizing Shareholder Value by Focusing on Growing Long-Term, High Quality Dividends Drive organic growth by leasing our existing portfolio of >40K well-located towers and ~80K route miles of high capacity fiber Allocate capital to accretive discretionary investments that support our long-term
Slide 7: Balanced Approach to Capital Allocation
Balanced Approach to Capital Allocation ($ in billions) Cumulative Discretionary Capital Allocated from FY 2011 to 2020 YTD(1) Total Enterprise Value(2) $90 Fiber Acquisitions $11 9% $23 External Financing 26% Tower $71 Acquisitions $9 22% Fiber Capex $6 28% 14% Tower Capex $4 $20 Cash Flow Common S
Slide 8: Combination of Stability and Growth Provides Compelling Total Return Opportunity
Combination of Stability and Growth Provides Compelling Total Return Opportunity Attractive Dividend Yield Long-Term Growth Tailwinds Dividends supported by high quality, long-term Embedded growth tied to contracted escalators contracted lease payments on majority of revenue Weighted average 5
Slide 9: Attractive Industry Growth Trends
Attractive Industry Growth Trends PAGE 9 PROPRIETARY
Slide 10: Positive Fundamentals Drive Significant Wireless Infrastructure Investment in the U.S.
Positive Fundamentals Drive Significant Wireless Infrastructure Investment in the U.S. U.S. Wireless Capital Investment Mobile Data Usage Growth (MBs in billions) • ~$300bn since 2010 with nearly $30bn in 2019 37,060 Capital Invested in U.S. U.S. Population as a % as a % of Invested of Global Popula
Slide 11: Increasing Data Consumption is Driving the Need for Denser Networks of Towers and Small Cells
Increasing Data Consumption is Driving the Need for Denser Networks of Towers and Small Cells Wireless congestion happens when too In addition to many people try to use macro cell sites, the same cell site at The best way to carriers are adding once. relieve wireless more capacity in congestion is t
Slide 12: Small Cell Market Opportunity Overview
Small Cell Market Opportunity Overview US Total Small Cell On-Air Nodes in 2024E Potential Long-Term Small Cell Densities Mobile Experts US Outdoor Small Cell On-Air Nodes Forecast(1) iGR US Outdoor Small Cell On-Air Nodes Forecast(2) Potential densities of ~20 nodes per mile 1,069k 5G Tenant 3 5 -
Slide 13: What Are Small Cells?
What Are Small Cells? Fiber fed small cells enable wireless carriers to add much needed coverage and capacity to relieve congestion on their networks Streetlights Utility Poles Slim Line Poles Crown Castle assets Wireless operator assets Collocation of multiple tenants on shareable fiber asset drive
Slide 14: Compelling Strategy with Towers, Small Cells and Fiber
Compelling Strategy with Towers, Small Cells and Fiber PAGE 14 PROPRIETARY
Slide 15: Leading Provider of Shared Communications Infrastructure in U.S.
Leading Provider of Shared Communications Infrastructure in U.S., Positioned to Generate Significant Long-Term Shareholder Value(1) Towers Fiber 10.7% $22.7b 11 Yrs 2.1 7.8% $14.4b > 3 Yrs < 0.5 (3) (2) (4) Invested Capital Weighted Average Life of Tenancy Cash Yield Capital Investment • Combined in
Slide 16: Towers And Small Cells Business Model Comparison
Towers And Small Cells Business Model Comparison Towers Small Cells Business Model Highlights: Underlying Demand Driver Wireless data growth Wireless data growth and density Customer Base Wireless carriers Wireless carriers • Nationally negotiated contracts • Nationally negotiated contracts Buying D
Slide 17: Small Cell Strategy Provides Potential Compelling Risk Reward Opportunity
Small Cell Strategy Provides Potential Compelling Risk Reward Opportunity Illustrative Scenarios: Potential Value Creation by 2030(1) 4x Strategy provides potential 7:1 upside to downside • We believe increasing small cell node densities Potential Total Shareholder Values in associated with 5G netwo