Company: SBAC
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001193125-25-074669
Chunk: 101

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 101
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 |                                 |     |               |   412,802 |     |      |     |   419,593 |     |      |     |   419,728 |     |      |     |   456,514 |     |      |     |   448,704 |
| Depreciation, accretion and amortization                                  |     |                                 |     |               |   721,970 |     |      |     |   700,161 |     |      |     |   707,576 |     |      |     |   716,309 |     |      |     |   269,517 |
| Provision (benefit) for taxes(2)                                          |     |                                 |     |               |   -40,895 |     |      |     |    15,847 |     |      |     |    68,183 |     |      |     |    51,885 |     |      |     |    23,328 |
| Adjusted EBITDA                                                           |     | $                               |     |               | 1,492,614 |     | $    |     | 1,606,279 |     | $    |     | 1,768,977 |     | $    |     | 1,893,850 |     | $    |     | 1,894,345 |

| (1) | Total interest expense includes interest expense, non-cash interest expense, and amortization of deferred financing fees. |

| (2) | These amounts include franchise and gross receipt taxes which are reflected in selling, general, and administrative expenses in the Consolidated Statement of Operations for the applicable year. |

Adjusted EBITDA Margin

|                                                             |     | For the year ended December 31, 
 2020                            |     |               |           |     | 2021 |     |           |     | 2022 |     |           |     | 2023 |     |           |     | 2024 |     |           |
|:------------------------------------------------------------|:----|:--------------------------------|:----|:--------------|----------:|:----|:-----|:----|----------:|:----|:-----|:----|----------:|:----|:-----|:----|----------:|:----|:-----|:----|----------:|
|                                                             |     |                                 |     | -in thousands |           |     |