Company: SBAC
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001193125-25-074669
Chunk: 100

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 100
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     |     81.3% |

Adjusted EBITDA and Adjusted EBITDA Margin We believe that Adjusted EBITDA and Adjusted EBITDA Margin are useful indicators of the financial performance of our core businesses. The tables below set forth the reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin to the most comparable GAAP measurement. SBA Communications Corporation | 2025 Proxy Statement A-1

| Proxy Summary |     | Proposal 1 |     | Corporate Governance |     | Executive Officers |     | Executive Compensation |     | Security Ownership |     | Proposal 2 |     | Proposal 3 |     | Other Compensation Disclosures |     | Q&A About Voting |     | Other   
 Matters |
|               |     |            |     |                      |     |                    |     |                        |     |                    |     |            |     |            |     |                                |     |                  |     | ●       |

Adjusted EBITDA

|                                                                           |     | For the year ended December 31, 
 2020                            |     |               |           |     | 2021 |     |           |     | 2022 |     |           |     | 2023 |     |           |     | 2024 |     |           |
|:--------------------------------------------------------------------------|:----|:--------------------------------|:----|:--------------|----------:|:----|:-----|:----|----------:|:----|:-----|:----|----------:|:----|:-----|:----|----------:|:----|:-----|:----|----------:|
|                                                                           |     |                                 |     | -in thousands |           |     |      |     |           |     |      |     |           |     |      |     |           |     |      |     |           |
| Net income                                                                |     | $                               |     |               |    24,047 |     | $    |     |   237,624 |     | $    |     |   459,799 |     | $    |     |   497,415 |     | $    |     |   748,677 |
| Non-cash straight-line leasing revenue                                    |     |                                 |     |               |    -3,475 |     |      |     |   -30,117 |     |      |     |   -38,675 |     |      |     |   -25,206 |