Document:

EX-10.1

 Exhibit 10.1 
  

 
  

MASTER AGREEMENT 
 AMONG

 AT&T INC., 

AT&T SUBSIDIARIES DESCRIBED HEREIN, 

CROWN CASTLE INTERNATIONAL CORP. 

AND 
 CROWN CASTLE
SUBSIDIARY DESCRIBED HEREIN 
 DATED AS OF OCTOBER 18, 2013 

 
  

 

 TABLE OF CONTENTS 
  

									
	 	 	 	 	 	  	Page	 
		
	ARTICLE 1 Definitions	  	 	3	 
		 	SECTION 1.1	 	 Certain Defined Terms
	  	 	3	 
		 	SECTION 1.2	 	 Construction
	  	 	23	 
		 	SECTION 1.3	 	 Assignments; Transfers of Certain Assets and Liabilities
	  	 	24	 
		
	ARTICLE 2 Contribution, Conveyance/Grant of Leasehold, Subleasehold or Other Interest And Consideration	  	 	25	 
		 	SECTION 2.1	 	 Formation of the AT&T Newcos, Sale Site Subsidiaries and Tower Operator
	  	 	25	 
		 	SECTION 2.2	 	 Closing Transactions
	  	 	26	 
		 	SECTION 2.3	 	 Items Excluded from Transaction
	  	 	27	 
		 	SECTION 2.4	 	 As Is, Where Is
	  	 	27	 
		 	SECTION 2.5	 	 Closing Place and Dates
	  	 	28	 
		 	SECTION 2.6	 	 Documentary Subsequent Closings; Contributions to AT&T Newcos
	  	 	28	 
		 	SECTION 2.7	 	 Preparation of Closing Documents
	  	 	30	 
		 	SECTION 2.8	 	 Prorating of Expenses
	  	 	31	 
		 	SECTION 2.9	 	 Recordation; Signage
	  	 	32	 
		 	SECTION 2.10	 	 Taxes; Bulk Sales
	  	 	32	 
		 	SECTION 2.11	 	 Integrated Transactions
	  	 	34	 
		
	ARTICLE 3 Site Lists; Payment of Consideration	  	 	34	 
		 	SECTION 3.1	 	 Site Lists
	  	 	34	 
		 	SECTION 3.2	 	 Payment of Consideration
	  	 	35	 
		 	SECTION 3.3	 	 Allocation of Rent
	  	 	35	 
		
	ARTICLE 4 Other Procedures for Sites	  	 	36	 
		 	SECTION 4.1	 	 Contributable Sites; Lease Sites; Assignable Sites
	  	 	36	 
		 	SECTION 4.2	 	 Certain Procedures with Respect to Identifying and Curing Exceptions
	  	 	36	 
		 	SECTION 4.3	 	 Shared Sites; Excluded Sites
	  	 	39	 
		 	SECTION 4.4	 	 Special Zoning Sites
	  	 	40	 
		 	SECTION 4.5	 	 Casualty Sites
	  	 	40	 
		 	SECTION 4.6	 	 Taken Sites
	  	 	41	 
		 	SECTION 4.7	 	 Non-Compliant Sites
	  	 	42	 
		 	SECTION 4.8	 	 Transaction Revenue Sharing Payments
	  	 	43	 
		 	SECTION 4.9	 	 Environmental Sites
	  	 	44	 
		 	SECTION 4.10	 	 Refund of Excluded Site Consideration
	  	 	45	 
		
	ARTICLE 5 Representations and Warranties of the AT&T Parties	  	 	45	 
		 	 SECTION 5.1
	 	 Organization
	  	 	46	 
		 	 SECTION 5.2
	 	 Authority; Enforceability; No Conflicts
	  	 	46	 

  
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		 	 SECTION 5.3
	 	 Title to Property
	  	 	48	 
		 	 SECTION 5.4
	 	 Real Property
	  	 	49	 
		 	 SECTION 5.5
	 	 Other Property
	  	 	49	 
		 	 SECTION 5.6
	 	 Material Agreements
	  	 	49	 
		 	 SECTION 5.7
	 	 Litigation; Orders
	  	 	51	 
		 	 SECTION 5.8
	 	 Environmental Matters
	  	 	51	 
		 	 SECTION 5.9
	 	 Tower Information
	  	 	51	 
		 	 SECTION 5.10
	 	 Brokers, Finders, Etc.
	  	 	51	 
		 	 SECTION 5.11
	 	 Compliance with Laws and Governmental Approvals
	  	 	51	 
		 	 SECTION 5.12
	 	 Taxes
	  	 	52	 
		 	 SECTION 5.13
	 	 Ownership of the AT&T Newcos and Sale Site Subsidiaries
	  	 	52	 
		 	 SECTION 5.14
	 	 Subsidiaries, Investments, No Prior Activities
	  	 	53	 
		 	 SECTION 5.15
	 	 Financial Statements
	  	 	53	 
		 	 SECTION 5.16
	 	 Solvency
	  	 	53	 
		 	 SECTION 5.17
	 	 No Implied Representations
	  	 	53	 
		 	 SECTION 5.18
	 	 Additional Matters With Respect to Representations and Warranties
	  	 	54	 
		
	 ARTICLE 6 Representations and Warranties of the AT&T Newcos and the Sale Site Subsidiaries
	  	 	54	 
		 	 SECTION 6.1
	 	 Organization
	  	 	54	 
		 	 SECTION 6.2
	 	 Authority; Enforceability; No Conflicts
	  	 	54	 
		 	 SECTION 6.3
	 	 Title to Properties
	  	 	55	 
		 	 SECTION 6.4
	 	 Solvency
	  	 	56	 
		
	ARTICLE 7 Representations and Warranties of Acquiror	  	 	56	 
		 	 SECTION 7.1
	 	 Organization
	  	 	56	 
		 	 SECTION 7.2
	 	 Authority; Enforceability; No Conflicts
	  	 	57	 
		 	 SECTION 7.3
	 	 Governmental Approvals, Consents, Reports, Etc.
	  	 	58	 
		 	 SECTION 7.4
	 	 Litigation; Orders
	  	 	59	 
		 	 SECTION 7.5
	 	 SEC Reports
	  	 	59	 
		 	 SECTION 7.6
	 	 Brokers, Finders, Etc.
	  	 	59	 
		 	 SECTION 7.7
	 	 Financial Capability
	  	 	59	 
		 	 SECTION 7.8
	 	 Registration Statement; Capitalization
	  	 	60	 
		 	 SECTION 7.9
	 	 Ownership of the Tower Operator
	  	 	60	 
		 	 SECTION 7.10
	 	 Subsidiaries, Investments, No Prior Activities
	  	 	61	 
		 	 SECTION 7.11
	 	 Solvency
	  	 	61	 
		
	 ARTICLE 8 Representations and Warranties of the Tower Operator
	  	 	61	 
		 	 SECTION 8.1
	 	 Organization
	  	 	61	 
		 	 SECTION 8.2
	 	 Authority; Enforceability
	  	 	62	 
		 	 SECTION 8.3
	 	 No Conflicts
	  	 	62	 
		 	 SECTION 8.4
	 	 Solvency
	  	 	62	 
		
	 ARTICLE 9 Covenants
	  	 	62	 
		 	 SECTION 9.1
	 	 Investigation of Sites; Access to Properties and Records
	  	 	62	 
		 	 SECTION 9.2
	 	 Efforts to Close; Cooperation
	  	 	65	 

  
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		 	 SECTION 9.3
	 	 Further Assurances
	  	 	66	 
		 	 SECTION 9.4
	 	 Conduct of Collocation Operations and the Sites
	  	 	67	 
		 	 SECTION 9.5
	 	 Public Announcements
	  	 	68	 
		 	 SECTION 9.6
	 	 Corporate Names
	  	 	68	 
		 	 SECTION 9.7
	 	 Actions by Acquiror and AT&T Parties’ Subsidiaries
	  	 	69	 
		 	 SECTION 9.8
	 	 Title Insurance Commitments
	  	 	69	 
		 	 SECTION 9.9
	 	 AT&T and its Affiliates’ Rights
	  	 	69	 
		 	 SECTION 9.10
	 	 Transaction Revenue Sharing Payments
	  	 	69	 
		 	 SECTION 9.11
	 	 Financing
	  	 	70	 
		 	 SECTION 9.12
	 	 Nature of Acquiror and Tower Operator
	  	 	71	 
		 	 SECTION 9.13
	 	 Delivery of Rule 3-14 Financial Statements
	  	 	72	 
		 	 SECTION 9.14
	 	 Confidentiality
	  	 	73	 
		 	 SECTION 9.15
	 	 Environmental Matters
	  	 	73	 
		 	 SECTION 9.16
	 	 Exclusivity
	  	 	74	 
		 	 SECTION 9.17
	 	 Tower Bonds
	  	 	75	 
		 	 SECTION 9.18
	 	 Master Collocation Agreements; Multiple Site Ground Leases; Affiliate Collocation Agreements
	  	 	75	 
		 	 SECTION 9.19
	 	 Entry into Ground Leases
	  	 	76	 
		 	 SECTION 9.20
	 	 Notices of Certain Events; Supplemental Disclosure
	  	 	77	 
		 	 SECTION 9.21
	 	 Master Emergency Backup Power Service Agreement
	  	 	77	 
		 	 SECTION 9.22
	 	 Transition Services Fees
	  	 	77	 
		
	ARTICLE 10 Conditions to Closing	  	 	78	 
		 	 SECTION 10.1
	 	 Conditions to the Obligations of Each Party to the Initial Closing
	  	 	78	 
		 	 SECTION 10.2
	 	 Additional Conditions to Acquiror’s Obligation to the Initial Closing
	  	 	78	 
		 	 SECTION 10.3
	 	 Additional Conditions to AT&T’s Obligations to the Initial Closing
	  	 	80	 
		 	 SECTION 10.4
	 	 Conditions to the Obligations to Close the Subsequent Documentary Closings
	  	 	81	 
		
	ARTICLE 11 Indemnification; Survival	  	 	82	 
		 	 SECTION 11.1
	 	 Indemnification Obligations of the AT&T Parties and the AT&T Newcos
	  	 	82	 
		 	 SECTION 11.2
	 	 Indemnification Obligations of Acquiror and the Tower Operator
	  	 	83	 
		 	 SECTION 11.3
	 	 Indemnification Claim Procedure
	  	 	84	 
		 	 SECTION 11.4
	 	 Indemnity Period
	  	 	86	 
		 	 SECTION 11.5
	 	 Liability Limits
	  	 	87	 
		 	 SECTION 11.6
	 	 Mitigation
	  	 	88	 
		 	 SECTION 11.7
	 	 Exclusive Remedies
	  	 	88	 
		 	 SECTION 11.8
	 	 Netting of Losses; Tax Treatment
	  	 	88	 
		
	ARTICLE 12 Termination	  	 	89	 
		 	 SECTION 12.1
	 	 Termination of Agreement
	  	 	89	 
		 	 SECTION 12.2
  
	 	 Effect of Termination

 
	  	   
	 90 
	   

  
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	ARTICLE 13 Miscellaneous	  	 	90	 
		 	 SECTION 13.1
	 	 Counterparts
	  	 	90	 
		 	 SECTION 13.2
	 	 Governing Law; Submission to Jurisdiction; Selection of Forum; Waiver of Trial by Jury
	  	 	90	 
		 	 SECTION 13.3
	 	 Entire Agreement
	  	 	91	 
		 	 SECTION 13.4
	 	 Fees and Expenses
	  	 	91	 
		 	 SECTION 13.5
	 	 Notices
	  	 	91	 
		 	 SECTION 13.6
	 	 Assignment; Successors and Assigns; Third Party Beneficiaries
	  	 	92	 
		 	 SECTION 13.7
	 	 Amendment; Waivers; Etc.
	  	 	93	 
		 	 SECTION 13.8
	 	 Time of Essence
	  	 	93	 
		 	 SECTION 13.9
	 	 Specific Performance
	  	 	93	 
		 	 SECTION 13.10
	 	 Severability
	  	 	94	 
		 	 SECTION 13.11
	 	 Interpretation
	  	 	94	 

  
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	 Schedules
	 	
		
	 Schedule 1
	 	 MPL Sites

	 Schedule 2
	 	 Portfolio Sites

	 Schedule 3
	 	 Sale Sites

	 Schedule 4
	 	 Site List

	 Schedule 5
	 	 AT&T Contributors

	 Schedule 6
	 	 Pre-Integration Records and Data Integration Process

	 Schedule 7
	 	 Mobile Telephone Switching Offices

		
	 Exhibits
	 	
		
	 Exhibit A
	 	 Form of Management Agreement

	 Exhibit B
	 	 Form of Master Prepaid Lease

	 Exhibit C
	 	 Form of Tower Operator General Assignment and Assumption Agreement

	 Exhibit D
	 	 Form of MPL Site MLA

	 Exhibit E
	 	 Form of Sale Site MLA

	 Exhibit F
	 	 Form of Joinder Agreement

	 Exhibit G
	 	 Form of Transition Services Agreement

	 Exhibit H
	 	 Form of AT&T Newco Certificate of Formation

	 Exhibit I
	 	 Form of AT&T Newco Separateness Agreement

	 Exhibit J
	 	 Form of AT&T Newco LLC Agreement

	 Exhibit K
	 	 Form of Sale Site Subsidiary Certificate of Formation

	 Exhibit L
	 	 Form of Sale Site Subsidiary LLC Agreement

	 Exhibit M
	 	 Form of Membership Interest Assignment and Assumption Agreement

	 Exhibit N-1
	 	 Form of AT&T Press Release

	 Exhibit N-2
	 	 Form of Acquiror Press Release

	 Exhibit O
	 	 Form of AT&T Internal Transfers Agreement

	 Exhibit P
	 	 Form of Consent Agreement

	 Exhibit Q
	 	 Master Emergency Backup Power Service Agreement Term Sheet

	 Exhibit R
	 	 Form of Notice

	 Exhibit S
	 	 Form of Ground Lease

  
 -v- 

 MASTER AGREEMENT 

This MASTER AGREEMENT (this “Agreement”), dated as of October 18, 2013, is among Crown
Castle International Corp., a Delaware corporation (“Acquiror”), AT&T Inc., a Delaware corporation (“AT&T”), and each Sale Site Subsidiary, each AT&T Newco and the Tower Operator that
become a party to this Agreement in accordance with the terms hereof. Each of Acquiror, the AT&T Parties and, subject to the terms of this Agreement and the terms of the applicable Joinder Agreements, each Sale Site Subsidiary, each AT&T
Newco and the Tower Operator, may hereafter be referred to as a “Party” and, collectively, as the “Parties”. 

RECITALS: 

WHEREAS, the AT&T Contributors operate the Portfolio Sites; 

WHEREAS, Acquiror desires to, through the Tower Operator or the Sale Site Subsidiaries, as applicable, Lease the Included
Property of the MPL Sites and purchase and acquire the Included Property of the Sale Sites, or otherwise operate and manage the MPL Sites and the Sale Sites, in each case on the terms and subject to the conditions set forth in this Agreement and the
Collateral Agreements; 
 WHEREAS, Acquiror intends to market all available capacity at the MPL Sites and the Sale Sites
through the Tower Operator and the Sale Site Subsidiaries, respectively, and to maximize the collocation revenue that may be derived therefrom; 

WHEREAS, at or prior to the Initial Closing, the AT&T Parties shall form (i) one or more Delaware limited liability
companies (each, an “AT&T Newco” and, collectively, the “AT&T Newcos”) in accordance with Section 2.1(a) and (ii) one or more Delaware limited liability companies (each, a
“Sale Site Subsidiary” and, collectively, the “Sale Site Subsidiaries”) in accordance with Section 2.1(c); 

WHEREAS, at or prior to the Initial Closing, Acquiror shall form a Delaware limited liability company (the “Tower
Operator”) as more particularly described in Section 2.1(b); 
 WHEREAS, at or prior to the Initial
Closing, upon the terms and subject to the conditions set forth in this Agreement, each applicable AT&T Party shall (i) cause to be contributed, conveyed, assigned, transferred and delivered to the applicable AT&T Newco its respective
right, title and interest in, to and under the Included Property of each Contributable Site in accordance with the terms of Section 2.2(a) and pursuant to the AT&T Internal Transfers Agreement, (ii) cause to be contributed,
conveyed, assigned, transferred and delivered to the applicable Sale Site Subsidiary its respective right, title and interest in, to and under the Included Property of each Assignable Site in accordance with the terms of Section 2.2(b)
and pursuant to the AT&T Internal Transfers Agreement, (iii) enter into a management agreement with the AT&T Newcos, the Sale Site Subsidiaries and the Tower Operator (the “Management Agreement”), substantially
in the form attached as Exhibit A, with respect to the Managed Sites in accordance with Section 2.2(f), pursuant to which the AT&T Contributors and the AT&T Newcos, as applicable, shall grant to the Tower Operator or
the Sale Site Subsidiaries, as applicable, as of the Initial Closing Date, the right to operate each Managed Site (including the Included Property thereof) until such time as such Site becomes a Lease Site or an Assignable

 
Site, as applicable, and (iv) cause to be sold, conveyed, assigned, transferred and delivered to Acquiror (or one of its Affiliates designated by Acquiror) all of the Sale Site Subsidiary
Interests in accordance with Section 2.2(e) and pursuant to the AT&T Internal Transfers Agreement; 

WHEREAS, at the Initial Closing, AT&T, the AT&T Newcos and the Tower Operator shall enter into
(i) a master prepaid lease for the MPL Sites held or operated by the AT&T Newcos (the “MPL”), substantially in the form attached as Exhibit B, pursuant to which the Tower Operator shall (A) Lease the
Included Property of the Lease Sites from the AT&T Newcos and (B) obtain an option to purchase the Included Property of the MPL Sites at the end of their respective lease or sublease terms and (ii) the Tower Operator General Assignment
and Assumption Agreement, substantially in the form attached as Exhibit C (the “Tower Operator General Assignment and Assumption Agreement”), in accordance with the terms of Section 2.2(d), pursuant to
which the AT&T Newcos shall sell, convey, assign, transfer and deliver the AT&T Newcos’ rights to the Collocation Agreements of the MPL Sites and the Post-Closing Liabilities of the Lease Sites to the Tower Operator; 

WHEREAS, at the Initial Closing, AT&T, the Tower Operator and the applicable AT&T Collocators shall enter into a
master leaseback agreement for the MPL Sites (the “MPL Site MLA”), substantially in the form attached as Exhibit D, in accordance with Section 2.2(g), pursuant to which the Tower Operator shall
(i) sublease to the applicable AT&T Collocators the AT&T Collocation Space at the Lease Sites and (ii) reserve and make the AT&T Collocation Space available for the exclusive use and possession of the applicable AT&T
Collocators (subject to certain incidental rights) at each Managed MPL Site until such time as such Managed MPL Site becomes a Lease Site; 

WHEREAS, at the Initial Closing, AT&T, the Sale Site Subsidiaries and the applicable AT&T Collocators shall enter into
a master leaseback agreement for the Sale Sites (the “Sale Site MLA”), substantially in the form attached as Exhibit E, in accordance with Section 2.2(g), pursuant to which the Sale Site Subsidiaries
shall (i) sublease to the applicable AT&T Collocators the AT&T Collocation Space at the Assignable Sites and (ii) reserve and make the AT&T Collocation Space available for the exclusive use and possession of the applicable
AT&T Collocators (subject to certain incidental rights) at each Managed Sale Site until such time as such Managed Sale Site becomes an Assignable Site; and 

WHEREAS, at the Initial Closing, the AT&T Parties, the AT&T Newcos, the Tower Operator and the Sale Site
Subsidiaries shall enter into the Transition Services Agreement (the “Transition Services Agreement”), substantially in the form attached as Exhibit G, pursuant to which the AT&T Parties and the AT&T
Newcos shall provide the Tower Operator and the Sale Site Subsidiaries certain services for a transition period following the Initial Closing. 

NOW, THEREFORE, the Parties agree as follows: 

  
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 ARTICLE 1 

DEFINITIONS 

SECTION 1.1 Certain Defined Terms. As used in this Agreement, in addition to the terms defined elsewhere herein,
the following terms shall have the following respective meanings when used in this Agreement with initial capital letters. 

“Accountants” has the meaning set forth in Section 9.1(b). 

“Accounts Payable” means all Liabilities arising out of the operation, use or occupancy
of the Included Property of any Site in the ordinary course of business that would be shown as current accounts payable on a combined balance sheet for the Sites, prepared in accordance with GAAP, as of immediately prior to the Initial Closing Date.
“Accounts Payable” does not include (i) Liabilities which any Party to this Agreement or any party to any Collateral Agreement has agreed to pay or perform pursuant to this Agreement (other than Section 2.8) or such
Collateral Agreement or (ii) payables and expenses in respect of events and for periods and portions thereof on and subsequent to the Initial Closing Date. 

“Accounts Receivable” means all receivables arising out of the operation, use or
occupancy of the Included Property of any Site in the ordinary course of business that would be shown as current accounts receivable on a combined balance sheet for the Sites, prepared in accordance with GAAP, as of immediately prior to the Initial
Closing Date. 
 “Acquiror” has the meaning set forth in the preamble. 

“Acquiror Disclosure Letter” means the disclosure letter delivered by Acquiror to the
AT&T Parties prior to the execution and delivery of this Agreement. 
 “Acquiror
Indemnified Parties” means Acquiror, the Tower Operator and the Sale Site Subsidiaries (after the Initial Closing), and each of their respective Affiliates, together with their respective members, managers and Representatives.

 “Acquiror Indemnified Site Claims” means all Claims (i) to the extent
that they relate to or arise out of or are in connection with a claim or demand made by any Person (other than a Party and its Affiliates) in respect of any Acquiror Indemnified Site and (ii) that would not have been incurred by an AT&T
Indemnified Party if the Closing Site Designation for such Acquiror Indemnified Site had been the same as the Site Designation for such Acquiror Indemnified Site set forth on the Site List. 

“Acquiror Indemnified Sites” means any Sites designated as (i) Pre-Lease Sites on
the Closing Site List that were designated as Non-Contributable Sites on the Site List, (ii) Lease Sites on the Closing Site List that were designated as Non-Contributable Sites or Pre-Lease Sites on the Site List or (iii) Assignable Sites
on the Closing Site List that were designated as Non-Assignable Sites on the Site List, in each case, with respect to which AT&T has notified Acquiror pursuant to Section 3.1(c) that AT&T disagrees in good faith with such
redesignation and with respect to which the applicable Consent has not been received (or in the case of any 

  
 -3- 

 
Authorization that only requires notice to be delivered to a Person, a Notice has not been delivered to such Person). 

“Affiliate” (and, with a correlative meaning, “Affiliated”)
means, with respect to any Person, any other Person that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such Person. As used in this definition, “control” means the
beneficial ownership (as such term is defined in Rules 13d-3 and 13d-5 of the Exchange Act) of 50% or more of the voting interests of the Person. 

“Agreement” has the meaning set forth in the preamble and shall include, except where
the context otherwise requires, all of the attached Schedules and Exhibits and the AT&T Disclosure Letter and the Acquiror Disclosure Letter. 

“Allocated Consideration” means, for each Portfolio Site, the amount set forth under the
heading “Allocated Consideration” with respect to such Site on Schedule 2. 

“Assignable Site” has the meaning set forth in Section 4.1(c). 

“Assignment Exception” means, with respect to any Sale Site, any Authorization that must
be obtained or satisfied in order for the applicable AT&T Contributor to (a) contribute, convey, assign, transfer or deliver the Included Property or the related Collocation Agreements of such Sale Site to the applicable Sale Site
Subsidiary or (b) sell, convey, assign, transfer or deliver all Sale Site Subsidiary Interests to Acquiror. 

“AT&T” has the meaning set forth in the preamble. 

“AT&T Collocation Space” has the meaning set forth in the MLAs. 

“AT&T Collocator” has the meaning set forth in the MLAs. 

“AT&T Communications Equipment” means any Communications Equipment at a Site owned
or leased and used exclusively by AT&T or one or more of its Affiliates. 

“AT&T Contributor(s)” means the Affiliates of AT&T set forth on
Schedule 5. 
 “AT&T Disclosure Letter” means the
disclosure letter delivered by the AT&T Parties, the AT&T Newcos and the Sale Site Subsidiaries to Acquiror prior to the execution and delivery of this Agreement. 

“AT&T Improvements,” as to any Site, has the meaning set forth in the MPL (as if
“Site” therein has the meaning set forth in this Agreement). 
 “AT&T
Indemnified Parties” means the AT&T Parties, the AT&T Newcos and the Sale Site Subsidiaries (prior to the Initial Closing) and each of their respective Affiliates, together with their respective members, managers and
Representatives. 
 “AT&T Internal Transfers Agreement” means the
AT&T Internal Transfers Agreement, substantially in the form attached as Exhibit O. 

  
 -4- 

 “AT&T Newco(s)” has the meaning set
forth in the Recitals. 
 “AT&T Newco Certificate of Formation” has
the meaning set forth in Section 2.1(a). 
 “AT&T Newco
Interests” means the issued and outstanding limited liability company membership interests in the AT&T Newcos. 

“AT&T Newco LLC Agreement” has the meaning set forth in
Section 2.1(a). 
 “AT&T Newco Separateness Agreement”
has the meaning set forth in Section 2.1(a). 
 “AT&T
Parties” means AT&T and the AT&T Contributors. 

“AT&T’s Share of Transaction Revenue Sharing Payments” means all Transaction
Revenue Sharing Payments other than Tower Operator’s Share of Transaction Revenue Sharing Payments. 

“Auction” has the meaning set forth in Section 9.16(a). 

“Authorization” means, with respect to any Site, each consent, approval or waiver from,
or a notice to or filing with, any Governmental Authority or other Person (including, if applicable, the Ground Lessor under the Ground Lease for such Site), if any, required in order to consummate the transactions contemplated by this
Agreement. 
 “Available Space” as to any Site, has the meaning set
forth in the MPL Site MLA or the Sale Site MLA, as applicable. 

“Bankruptcy” means a proceeding, whether voluntary or involuntary, under the federal
bankruptcy Laws, a foreclosure, an assignment for the benefit of creditors, trusteeship, conservatorship or other proceeding or transaction arising out of the insolvency of a Person or any of its Affiliates or involving the complete or partial
exercise of a creditor’s rights or remedies in respect of payment upon a breach or default in respect of any obligation, or any similar proceeding under foreign or state Law. 

“Books and Records” means, with respect to each Site, the current books, files and
records in the possession of the AT&T Contributors or any of their respective Affiliates to the extent exclusively relating to the Included Property of such Site or the operation of such Site in respect of the Collocation Operations or, to the
extent not so exclusively related, appropriate extracts thereof, in all cases with respect to periods prior to the Initial Closing; provided, however, that “Books and Records” shall not include any valuation analysis or other
documentation created in connection with the Auction. 
 “Business Day”
means any day other than a Saturday, a Sunday, a federal holiday or any other day on which banks in New York City are authorized or obligated by Law to close. 

“Cap” has the meaning set forth in Section 11.5(a). 

  
 -5- 

 “Casualty Site” means a Portfolio Site with
respect to which physical damage by way of a casualty event has been suffered with respect to such Site prior to the Initial Closing Date as a result of which (i) the Tower on such Site is unusable as a communications tower or
(ii) (A) the ability of the Tower on such Site to continue to be usable as a communications tower and (B) the value of such Site is materially impaired. 

“Chosen Courts” has the meaning set forth in Section 13.2(a). 

“Claims” means any claims, demands, assessments, actions, suits, damages, obligations,
fines, penalties, liabilities, losses, adjustments, costs and expenses (including reasonable fees and expenses of attorneys and other appropriate professional advisors). 

“Closing” means the Initial Closing, a Subsequent Closing or a Documentary Subsequent
Closing, as applicable. 
 “Closing Date” means, with respect to a
particular Closing, the date on which such Closing occurs. 
 “Closing Site
Designations” means the Site Designations set forth on the Closing Site List. 

“Closing Site List” has the meaning set forth in Section 3.1(b).

 “Code” means the United States Internal Revenue Code of 1986, as
amended. 
 “Collateral Agreements” means the following documents:
(i) the MPL, (ii) the MLAs, (iii) the Site Lease Agreements and Memoranda of Site Lease Agreements, (iv) the Tower Operator General Assignment and Assumption Agreement, (v) the Management Agreement, (vi) the Transition
Services Agreement, (vii) the Confidentiality Agreement, (viii) the AT&T Internal Transfers Agreement, (ix) the AT&T Newco Separateness Agreements, (x) if a form is agreed to by the Initial Closing pursuant to
Section 9.21, the Master Emergency Backup Power Service Agreement and (xi) any other agreements, certificates and documents entered into in connection with the transactions contemplated by this Agreement or the Collateral
Agreements. 
 “Collocation Agreement” means an agreement (other than
the MPL) between or among an AT&T Party (or any Affiliate thereof), on the one hand, and a third party (provided, that such third party is not an Affiliate of such AT&T Party (or Affiliate thereof) on the Initial Closing Date), on the
other hand, pursuant to which such AT&T Party (or Affiliate thereof) rents or licenses to such third party space at any Site (including space on a Tower), including all amendments, modifications, supplements, assignments and guaranties related
thereto as in effect from time to time prior to the Initial Closing; it being understood that in the case of a Master Collocation Agreement, the Collocation Agreement shall be the applicable Site Lease Agreement (including any
rights, interests and provisions incorporated therein). For clarity, utility and power-sharing agreements between an AT&T Party or an AT&T Newco (or any Affiliate thereof) and a third party are not Collocation Agreements. 

“Collocation Operations” means the operations of the AT&T Contributors and their
respective Affiliates of (i) marketing available capacity at any Site, (ii) administering the  

  
 -6- 

 
Collocation Agreements and (iii) managing the use and occupancy of the Sites by (a) the AT&T Contributors and their respective Affiliates and (b) the Tower Subtenants.
For the avoidance of doubt, “Collocation Operations” does not include the provision of wireless or wireline voice and data services. 

“Common Stock” has the meaning set forth in Section 7.8(c). 

“Communications Equipment” has the meaning set forth in the MPL. 

“Competing Transaction” has the meaning set forth in Section 9.16(a).

 “Confidentiality Agreement” means the Non-Disclosure Agreement dated
June 20, 2013, between AT&T Services, Inc. and Crown Castle International LLC. 

“Confirmatory Assignments” has the meaning set forth in
Section 2.7(e). 
 “Consent” means a Consent Agreement
executed by the counterparty to which such Consent Agreement was directed without substantive change thereto. 

“Consent Agreement” means an agreement provided to a counterparty to a Ground Lease or a
Collocation Agreement substantially in the form of Exhibit P, as applicable. 

“Consideration” means an amount equal to (i) the Portfolio Sites Fixed Amount less (ii) the
sum of (A) the aggregate amount of the Excluded Site Consideration for all Excluded Sites designated as such at the Initial Closing pursuant to Section 4.3(b)(vi) or Section 4.3(b)(vii) or that are deemed to be Excluded
Sites pursuant to Section 9.19(b) and (B) the product of (I) the number of Excluded Sites designated as such at the Initial Closing pursuant to Section 4.3(b) (other than clauses (vi) and (vii) thereof and
any Portfolio Site that is deemed to be an Excluded Site pursuant to Section 9.19(b)) minus 18, multiplied by (II) the Excluded Site Consideration calculated in accordance with clause (ii) of the definition of “Excluded
Site Consideration” with respect to the Excluded Sites designated as such at the Initial Closing pursuant to Section 4.3(b) (other than clauses (vi) and (vii) thereof and any Portfolio Site that is deemed to be an Excluded
Site pursuant to Section 9.19(b)). 
 “Contributable Site” has the meaning
set forth in Section 4.1(a). 
 “Contribution Exception”
means, with respect to any MPL Site, any Authorization that must be obtained or satisfied in order for the applicable AT&T Contributor to contribute, convey, assign, transfer and deliver the Included Property and the related Collocation
Agreements of such MPL Site to the applicable AT&T Newco. 
 “Corrective
Assignment” has the meaning set forth in Section 2.7(f). 

“Data Integration Process” means the process described under the heading “Data
Integration Process” on Schedule 6. 
 “Data Room” means, collectively,
the electronic data rooms hosted by Intralinks that were established by AT&T for the transactions contemplated by this Agreement, including all 

  
 -7- 

 
documents and data that are in such data rooms and to which Acquiror or any of its Representatives had access as of the Initial Closing and all documents and data that were in such data rooms at
any time on or subsequent to the date on which Acquiror or any of its Representatives first obtained access to such data rooms and to which Acquiror or any of its Representatives had access. 

“De Minimis Claim” has the meaning set forth in Section 11.5(a).

 “Debt Financing” has the meaning set forth in
Section 7.7(b). 
 “Debt Financing Commitment” has the
meaning set forth in Section 7.7(b). 
 “Debt Financing
Sources” means the entities that have committed to provide or otherwise have entered into agreements in connection with the Debt Financing. 

“Direct Claim” has the meaning set forth in Section 11.3(c). 

“Direct Claim Notice” has the meaning set forth in Section 11.3(c).

 “Documentary Subsequent Closing” has the meaning set forth in
Section 2.5(b). 
 “Documentary Subsequent Closing Date”
means, as to each Documentary Subsequent Closing, the date on which such Documentary Subsequent Closing occurs. 

“Environmental Law” means any federal, state or local statute, Law, ordinance, code,
rule, regulation, order or decree regulating, relating to or imposing liability or standards of conduct concerning protection of the environment or public or workplace health and safety as may now or at any time hereafter be in effect, including the
following, as the same may be amended or replaced from time to time, and all regulations promulgated under or in connection with the Superfund Amendments and Reauthorization Act of 1986; the Comprehensive Environmental Response, Compensation, and
Liability Act of 1980; The Clean Air Act; The Clean Water Act; The Toxic Substances Control Act of 1976; The Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act; The Hazardous Materials Transportation Act; and The
Occupational Safety and Health Act of 1970. 
 “Environmental Site”
means a Regional Listed Site or a Non-Regional Listed Site. 
 “Equity Amount” has the
meaning set forth in Section 9.11(a). 
 “Exception” means a Contribution
Exception, Leasing Exception or Assignment Exception. 
 “Exchange Act”
means the Securities Exchange Act of 1934, as amended. 
 “Excluded
Assets” means the following: 
 (i) all Excluded Sites; 

(ii) all AT&T Communications Equipment and AT&T Improvements; 

  
 -8- 

 (iii) any of the AT&T Contributors’ or the AT&T
Newcos’ right, title or interest in, to and under the Land, other than any fee, leasehold or other interest in such Land granted or transferred to the Tower Operator pursuant to the MPL or the Sale Site Subsidiaries pursuant to this Agreement
and the Collateral Agreements; 
 (iv) any mobile telephone switching office, the switching and related
equipment located thereon and any fuel tanks associated with any such office; 
 (v) all Reserved Property
(for so long as it remains Reserved Property); 
 (vi) any structures (including Shelters and cabinets) on a
Site owned and used, and intended for use, exclusively by AT&T or any of its Affiliates other than in the Collocation Operations; 

(vii) except as otherwise expressly provided in this Agreement (including with respect to any Governmental
Approvals constituting Tower Related Assets), any and all licenses granted by the FCC or any other Governmental Authority to the AT&T Contributors or their respective Affiliates; 

(viii) any Accounts Receivable or other receivables of the AT&T Contributors, the AT&T Newcos or the
Sale Site Subsidiaries or their respective Affiliates under any Collocation Agreement accruing as to periods and portions thereof ending prior to the Initial Closing Date (for the avoidance of doubt, the foregoing shall not include any receivables
or revenue (including site rental revenue, collocation revenue and prepaid rent) relating to or for events and periods and portions thereof on and subsequent to the Initial Closing Date); 

(ix) any intellectual property of or used by the AT&T Contributors, the AT&T Newcos or the Sale Site
Subsidiaries or their respective Affiliates; 
 (x) any condemnation or eminent domain proceeds with respect
to a taking of any Excluded Site; 
 (xi) except as otherwise expressly provided in Section 2.8,
any cash, cash equivalents or marketable securities and all rights to any bank accounts of the AT&T Contributors or the AT&T Newcos or their respective Affiliates; 

(xii) any Claims of AT&T and its Affiliates in respect of any Excluded Asset or Excluded Liability; and

 (xiii) any rights to refunds or credits of Taxes relating to the periods before the Initial Closing Date
or with respect to which AT&T or its Affiliates have made any payments, in each case to the extent the Taxes have not been indemnified by Acquiror or Tower Operator. 

“Excluded Liabilities” means all Liabilities of the AT&T Parties, the AT&T Newcos or the Sale
Site Subsidiaries or any of their respective Affiliates, other than Post-Closing Liabilities and Pre-Closing Liabilities. “Excluded Liabilities” shall include the following: (i) any Liability

  
 -9- 

 
of the AT&T Parties or the AT&T Newcos or any of their respective Affiliates to their employees in their capacity as employers or under any employee benefits or similar plans;
(ii) any Liability to the extent based upon, resulting from, related to or arising out of (a) any Excluded Asset, the ownership of any Excluded Asset or the realization of the benefits of any Excluded Asset or (b) the operation, use
or occupancy by the AT&T Parties or the AT&T Newcos or any of their respective Affiliates of any properties or assets other than the Included Property of the Sites or the conduct by the AT&T Parties or AT&T Newcos or any of their
respective Affiliates of any business or operations other than the operation, use or occupancy of the Included Property of the Sites; (iii) AT&T’s Share of Transaction Revenue Sharing Payments; (iv) any Indebtedness of any
AT&T Party or any AT&T Newco or any of their respective Affiliates; (v) except as otherwise expressly provided in this Agreement or the Collateral Agreements, any Liability for any fees or expenses incurred by any AT&T Party or
AT&T Newco or any of their respective Affiliates (including the fees and expenses of legal counsel, any accountant, auditor, broker, financial advisor or consultant retained by them or on their behalf) in connection with the preparation,
negotiation, execution and delivery of this Agreement or the Collateral Agreements or the consummation of any Closing; (vi) any Accounts Payable; (vii) except as otherwise expressly provided in this Agreement or any Collateral Agreement,
any Taxes of any AT&T Party or AT&T Newco or any of their respective Affiliates; and (viii) any Liabilities to pay the premiums for any Tower Bonds in effect at the Initial Closing and any replacements thereof in accordance with
Section 9.17. 
 “Excluded Site” means, at any time of determination, any Portfolio Site
designated as or deemed to be an “Excluded Site,” or that is returned to one or more AT&T Parties after the Initial Closing pursuant to Sections 4.3(a), 4.5, 4.6, 4.7 or 4.9, in each case in
accordance with the terms of this Agreement. 
 “Excluded Site Collocation Payments”
means, with respect to any Site that is re-designated as or deemed to be an Excluded Site in accordance with this Agreement, any amounts paid to or received by Acquiror, the Tower Operator, any Sale Site
Subsidiary or any of their respective Subsidiaries or assigns from and after the Initial Closing Date with respect to such Site (including any payments received by Acquiror, the Tower Operator, any Sale Site Subsidiary or any of their respective
Subsidiaries from and after the Initial Closing Date under any Collocation Agreement or the MLA for such Site). 

“Excluded Site Consideration” means (i) with respect to each Excluded Site
designated as such pursuant to Section 4.3(b)(vi) or Section 4.3(b)(vii) and any Portfolio Site that is deemed to be an Excluded Site pursuant to Section 9.19(b), the greater of (A) the Allocated
Consideration for such Portfolio Site set forth on Schedule 2 and (B) $150,000, and (ii) with respect to each Excluded Site designated as such pursuant to Section 4.3(b) (other than clauses (vi) and
(vii) thereof and any Portfolio Site that is deemed to be an Excluded Site pursuant to Section 9.19(b)) or that is returned to the AT&T Parties after the Initial Closing pursuant to Sections 4.3(a), 4.5,
4.6, 4.7 or 4.9, the average of the Allocated Consideration set forth on Schedule 2 for all Portfolio Sites designated as Excluded Sites pursuant to Section 4.3(b) (other than clauses (vi) and
(vii) thereof and any Portfolio Site that is deemed to be an Excluded Site pursuant to Section 9.19(b)) or that are returned to the AT&T Parties after the Initial Closing pursuant to Sections 4.3(a), 4.5,
4.6, 4.7 or 4.9; provided, however, that if the average calculated 

  
 -10- 

 
pursuant to this clause (ii) is less than $0, the Excluded Site Consideration of each Excluded Site described in this clause (ii) shall be deemed to be $0. 

“FAA” means the United States Federal Aviation Administration or any successor federal
Governmental Authority performing a similar function. 
 “FCC” means the
United States Federal Communications Commission or any successor Governmental Authority performing a similar function. 

“Final Closing Date” has the meaning set forth in Section 4.2(a).

 “FIRPTA Certificate” has the meaning set forth in Section
10.2(g). 
 “GAAP” means generally accepted accounting principles in
the United States, consistently applied. 
 “Governmental Approvals”
means all licenses, permits, franchises, certifications, waivers, variances, registrations, consents, approvals, qualifications, determinations and other authorizations to, from or with any Governmental Authority. 

“Governmental Authority” means, with respect to any Person or any Site, any foreign,
domestic, federal, territorial, state, tribal or local governmental authority, administrative body, quasi-governmental authority, court, government or self-regulatory organization, commission, board, administrative hearing body, arbitration panel,
tribunal or any regulatory, administrative or other agency or any political or other subdivision, department or branch of any of the foregoing, in each case having jurisdiction over such Person or such Site. 

“Ground Lease” means, as to any Ground Leased Site, the ground lease, sublease, or any
easement, license or other agreement or document pursuant to which an AT&T Contributor, an AT&T Newco or a Sale Site Subsidiary holds a leasehold or subleasehold interest, leasehold or subleasehold estate, easement, license, sublicense or
other interest in such Site, together with any extensions of the term thereof (whether by exercise of any right or option contained therein or by execution of a new ground lease or other instrument providing for the use of such Site), and including
all amendments, modifications, supplements, assignments and guarantees related thereto as in effect from time to time prior to the Initial Closing. 

“Ground Leased Sites” means all Sites that are not Owned Sites, including all the MPL
Sites and the Sale Sites designated as “Leased” on Schedule 1 and Schedule 3, including the Included Property related thereto. 

“Ground Leased Sites Land” means, with respect to each Ground Leased Site, the Land
leased from the Ground Lessor by the AT&T Contributors, the AT&T Newcos or the Sale Site Subsidiaries, as the case may be. 

“Ground Lessor” means, as to any Ground Leased Site, the “lessor”,
“sublessor”, “landlord”, “licensor”, “sublicensor” or similar Person under the related Ground Lease, which, in the case of any Schedule 7 Site, may be AT&T or one of its Affiliates. 

  
 -11- 

 “Ground Lessor Estoppel” means an estoppel
agreement from the Ground Lessor under a Ground Lease for the benefit of the Tower Operator, its successors and assigns, in form and substance reasonably satisfactory to Acquiror and the Tower Operator. 

“Ground Lessor Mortgage” means any mortgage, deed of trust or similar Lien encumbering
the interest of a Ground Lessor that is superior to the interest of an AT&T Contributor in a Ground Leased Site and that exists prior to the Initial Closing Date. 

“Hazardous Material” means and includes petroleum products, flammable explosives,
radioactive materials, asbestos or any material containing asbestos, polychlorinated biphenyls or any hazardous, toxic or dangerous waste, substance or material, in each case, defined as such (or any similar term) or regulated by, in or for the
purposes of Environmental Laws, including Section 101(14) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980. 

“HSR Act” means the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended,
and the rules and regulations promulgated thereunder. 
 “Improvements,”
as to any Site, has the meaning set forth in the MPL. 
 “Included
Property” means, with respect to each Site, (i) the Land related to such Site (including the applicable interest in any Ground Lease), (ii) the Tower located on such Site (including the AT&T Collocation Space) and
(iii) the related Improvements (excluding AT&T Improvements and any Tower Subtenant’s Improvements) and the Tower Related Assets with respect to such Site; but excluding, in each case of (i), (ii) and (iii), any Excluded Assets
and all Tower Subtenant Communications Equipment. 
 “Indebtedness”
means (i) all liabilities for borrowed money, whether current or funded, secured or unsecured, all obligations evidenced by bonds, debentures, notes or similar instruments, and all liabilities in respect of mandatorily redeemable or purchasable
capital stock or securities convertible into capital stock; (ii) all liabilities for the reimbursement of any obligor on any letter of credit, banker’s acceptance or similar credit transaction (other than Tower Bonds) securing obligations
of a type described in clause (i) above to the extent of the obligation secured; and (iii) all liabilities as guarantor of obligations of any other Person of a type described in clauses (i) and (ii) above, to the extent of the
obligation guaranteed. 
 “Indemnified Party” has the meaning set forth
in Section 11.3(a). 
 “Indemnifying Party” has the meaning
set forth in Section 11.3(a). 
 “Indemnity Period” means
the period during which a claim for indemnification may be asserted pursuant to Article 11 by an Indemnified Party. 

“Independent Managers” means, with respect to each AT&T Newco, the Independent
Managers as defined in the AT&T Newco LLC Agreement for such AT&T Newco. 

“Initial Closing” has the meaning set forth in Section 2.5(a).

  
 -12- 

 “Initial Closing Date” means the date on
which the Initial Closing occurs. 
 “Joinder Agreement” means a Joinder
Agreement, in substantially the form attached as Exhibit F, to be executed by each AT&T Newco, each Sale Site Subsidiary and the Tower Operator at the Initial Closing, pursuant to which each AT&T Newco, each Sale Site Subsidiary
and the Tower Operator shall agree to become bound by the terms and conditions of this Agreement. 

“Knowledge of Acquiror” means the actual knowledge of those individuals set forth in
Section 1 of the Acquiror Disclosure Letter. 
 “Knowledge of the
AT&T Parties” means the actual knowledge of those individuals set forth in Section 1.1(a) of the AT&T Disclosure Letter. 

“Land” means, with respect to each Site, the tracts, pieces or parcels of land
constituting such Site, together with all easements, rights of way and other rights appurtenant thereto. 

“Law” means any federal, state, local, foreign or international law, statute, common
law, rule, code, regulation, ordinance or Order of, or issued by, any Governmental Authority. 

“Lease” means, with respect to the Included Property of a Site, the act of leasing,
subleasing, assigning or otherwise granting to the Tower Operator the right of the applicable AT&T Newco to use such Included Property pursuant to the MPL or the Management Agreement, as applicable. 

“Lease Site” has the meaning set forth in Section 4.1(b). 

“Leasing Exception” means, with respect to any MPL Site, any Authorization that must be
obtained or satisfied in order for an AT&T Newco to Lease the Included Property and assign the Collocation Agreements of such MPL Site to the Tower Operator. 

“Liabilities” means, with respect to any Person, any and all debts (including interest
thereon and any prepayment penalties applicable thereto), obligations, liabilities and Claims, whether fixed, contingent or absolute, matured or unmatured, liquidated or unliquidated, accrued or not accrued, known or unknown, whenever or however
arising (including whether arising out of any contract or tort based on negligence or strict liability) and whether or not the same would be required by GAAP to be reflected in such Person’s consolidated financial statements or disclosed in the
notes thereto. 
 “Liens” means, with respect to any asset, any
mortgage, lien, pledge, security interest, charge, attachment or encumbrance of any kind in respect of such asset. 

“Managed MPL Site” means, at any time of determination, any MPL Site that is a Non-Contributable Site or a Pre-Lease Site. 

“Managed Sale Site” means, at any time of determination, any Sale Site that is a Non-Assignable Site. 

  
 -13- 

 “Managed Site” means a Managed MPL Site or
a Managed Sale Site. 
 “Management Agreement” has the meaning set forth
in the Recitals. 
 “Master Collocation Agreement” means a Collocation
Agreement that permits a Tower Subtenant to occupy space (including on a Tower) at more than one site, which may include sites that are not the subject of the transaction contemplated by this Agreement. 

“Master Emergency Backup Power Service Agreement” has the meaning set forth in
Section 9.21. 
 “Master Emergency Backup Power Service Agreement Term
Sheet” means the Master Emergency Backup Power Service Agreement Term Sheet attached as Exhibit Q. 

“Material Adverse Effect” means any state of facts, change, effect, condition,
development, event or occurrence that is materially adverse to the assets, financial condition or results of operations of the Included Property of the Sites taken as a whole, after giving effect to the transactions contemplated by the MLAs (as if
such transactions were in effect on the date of this Agreement); provided, however, that no adverse change or event arising directly or indirectly from or otherwise relating directly or indirectly to any of the following shall be
deemed either alone or in combination to constitute, and no such adverse change or event shall be taken into account in determining whether there has been or would be, a Material Adverse Effect: (i) changes to the wireless communications
industry in the United States generally or the communications tower ownership, operation, leasing, management and construction business in the United States generally; (ii) the announcement or disclosure of the transactions contemplated by this
Agreement; (iii) general economic, regulatory or political conditions in the United States or changes or developments in the financial or securities markets; (iv) changes in GAAP or their application; (v) acts of war, military action,
armed hostilities or acts of terrorism; (vi) changes in Law; (vii) the taking of any action by any Person which is required to be taken pursuant to the terms of this Agreement; (viii) the termination of any Collocation Agreements of
the type described on Section 1.1(b) of the AT&T Disclosure Letter; or (ix) any matter identified in Section 10.2(i) of the AT&T Disclosure Letter, unless any of the facts, changes, effects, conditions,
developments or occurrences set forth in clauses (i), (iii) or (v) hereof disproportionately impacts or affects the Included Property of the Sites, taken as a whole, as compared to other similar portfolios of communications towers.

 “Material Agreement” means each Ground Lease and Collocation Agreement, in
each case, as currently amended, modified or supplemented and all assignments and guarantees related thereto and in effect. 

“Material Site Non-Compliance Issue” means a Site where (i) any Party or any of
their respective Affiliates has received prior to the Initial Closing written notice from a Governmental Authority that such Site was not constructed in compliance with the National Environmental Policy Act of 1970 (“NEPA”)
or the National Historic Preservation Act of 1966 (“NHPA”), (ii) as of the date of such notice, such Site is in material non-compliance with NEPA or NHPA and (iii) the reasonably anticipated cost of remedying such
non-compliance exceeds $250,000 for such Site. 

  
 -14- 

 “Material Site Title Issue” means
(i) with respect to any Leased Site, that none of the AT&T Contributors or the AT&T Newcos holds a leasehold interest in such Site or an easement, license, permit or similar agreement to operate such Site or such other possessory
interest in such Site or (ii) with respect to any Owned Site, that none of the AT&T Contributors or the Sale Site Subsidiaries holds a fee simple interest in such Site. 

“Membership Interest Assignment and Assumption Agreement” has the meaning set forth in
Section 2.2(e). 
 “Memorandum of Site Lease Agreement” means, as
to any Site, a Memorandum of Site Lease Agreement in substantially the form attached to the MLAs. 

“MLAs” means the MPL Site MLA and Sale Site MLA. 

“MPL” has the meaning set forth in the Recitals. 

“MPL Site MLA” has the meaning set forth in the Recitals. 

“MPL Sites” means the Portfolio Sites set forth in Schedule 1, including the Included
Property related thereto, other than any such sites designated as or deemed to be Excluded Sites following the date of this Agreement in accordance with the terms of this Agreement (in each case from and after the date of such designation) and any
MPL Sites that are designated as Sale Sites in accordance with Section 4.8. 

“Multiple Site Ground Lease” means any Ground Lease applicable to multiple Towers, where
at least one of those Towers is located on a Site and at least one of the Towers is not located on a Site. 

“Names” means, collectively, all names, marks, trade names and trademarks, whether or
not registered. 
 “National Priorities List” has the meaning set forth
in the definition of “Non-Regional Site.” 
 “NEPA” has the
meaning set forth in the definition of “Material Site Non-Compliance Issue.” 
 “Net
Amount” has the meaning set forth in Section 4.3(a). 

“NHPA” has the meaning set forth in the definition of “Material Site Non-Compliance
Issue.” 
 “Non-Assignable Site” means any Sale Site that
(i) is not an Assignable Site or (ii) is deemed not to be an Assignable Site in accordance with Section 4.3(a), Section 4.4, Section 4.7(b)(i), Section 4.7(c) and Section 4.9(b).

  
 -15- 

 “Non-Compliant Site” means a Portfolio Site
(i) that is subject to a Material Site Non-Compliance Issue or (ii) in respect of which an AT&T Party has received written notice from a third party of a possible Material Site Title Issue. 

“Non-Contributable Site” means any MPL Site that (i) is not a Contributable Site or
(ii) is deemed not to be a Contributable Site in accordance with Section 4.3(a), Section 4.4, Section 4.7(b)(i), Section 4.7(c) and Section 4.9(b). 

“Non-Disturbance Agreement” means, as to a Ground Lease for a Site that is subject to a
Ground Lessor Mortgage, a non-disturbance agreement from the lender with respect to such Ground Lessor Mortgage, in form and substance reasonably satisfactory to Acquiror, the Tower Operator and, after the Initial Closing, the Sale Site
Subsidiaries. 
 “Non-Regional Listed Site” means a Site that is listed
as a proposed site or a final site on the U.S. Environmental Protection Agency’s National Priorities List (the “National Priorities List”), or state equivalent list, other than a Regional Listed Site. 

“Non-Surviving Representations and Warranties” means the representations and warranties
set forth in Section 5.3(c), Section 5.4(b), Section 5.5 (other than Section 5.5(d)), Section 5.7, Section 5.8, Section 5.9(b), Section 5.11,
Section 5.12(a), Sections 6.3(c), Section 7.3, Section 7.4, Section 7.5 and Section 7.7. 

“Notice” means a notice provided to a counterparty to a Ground Lease or Collocation Agreement
substantially in the form of Exhibit R, as applicable. 
 “Order” means an
administrative, judicial, or regulatory injunction, order, decree, judgment, sanction, award or writ of any nature of any Governmental Authority. 

“Owned Sites” means the Sites with respect to which an AT&T Party owns fee simple
title in the Land which is part of the such Site, which Sites are designated as “Owned” on Schedule 1 and Schedule 3, including the Included Property related thereto. 

“Owned Sites Land” means the Land of Owned Sites. 

“Party” or “Parties” has the meaning set forth in the
preamble. 
 “Permitted Liens” means, collectively, (i) Liens in respect of
property Taxes or similar assessments, governmental charges or levies that relate solely to the interests of any Ground Lessor in a Site and (A) are not, in the aggregate for all Sites, in excess of $20,000,000 or (B) are not yet due and
payable or (C) are being contested in good faith and have been contested in good faith for no longer than 12 months prior to the date of this Agreement, as long as no foreclosure, distraint, sale or similar proceedings have been commenced with
respect thereto, (ii) Liens of landlords, laborers, shippers, carriers, warehousemen, mechanics, materialmen, repairmen and other like Liens imposed by Law that relate solely to the interests of a Ground Lessor or a Tower Subtenant in a Site
and arise in the ordinary course of business, as long as no foreclosure, distraint, sale or similar proceedings have been commenced with respect thereto, (iii) any easements, rights of public utility companies, rights-of-way, covenants,
conditions, licenses, restrictions, reservations of mineral rights (with surface rights being waived) or similar 

  
 -16- 

 
non-monetary encumbrances that do not or would not reasonably be expected to, individually or in the aggregate, materially adversely affect the use or operation of the applicable Site as a
communications tower facility, including the rental of such Site to Tower Subtenants, (iv) rights of, or by, through or under, tenants in possession of the applicable Site pursuant to Collocation Agreements, (v) the Ground Leases,
(vi) agreements with Governmental Authorities related to the construction, use or operation of a Site, (vii) Zoning Laws and all other Laws related to the use and operation of communications towers similar to the Towers, (viii) Ground
Lessor Mortgages, (ix) Collocation Agreements, (x) the Collateral Agreements, (xi) any Lien or right created by Persons other than the AT&T Parties or their respective Affiliates and not caused or consented to by an AT&T Party
or its Affiliates, as long as no foreclosure, distraint, sale or similar proceedings have been commenced with respect thereto, (xii) any Lien or right otherwise caused or consented to by Acquiror or Tower Operator after the date of this
Agreement and (xiii) without limiting the foregoing, such other matters filed in the public real estate records that do not materially impair the use or operation of such Site as a communications tower site. 

“Person” means any individual, corporation, limited liability company, partnership,
association, trust or any other entity or organization, including a Governmental Authority. 

“Portfolio Sites” means the wireless communications sites identified on
Schedule 2. 
 “Portfolio Sites Fixed Amount” means an
amount equal to $4,850,000,000. 
 “Post-Closing Liabilities” means all
Liabilities to the extent that they arise out of or relate to or are in connection with the ownership, operation, use, maintenance or occupancy of the Included Property of any Site after the Initial Closing Date, but, with respect to any MPL Site,
prior to the expiration or earlier termination of the MPL, including all such payment and performance obligations due under any Ground Lease (other than AT&T’s Share of Transaction Revenue Sharing Payments) or Collocation Agreement after
the Initial Closing Date. For the avoidance of doubt, “Post-Closing Liabilities” shall (i) not include any Liabilities to pay the premiums for any Tower Bonds for MPL Sites or except as expressly set forth herein and
(ii) include, with respect to any Liabilities that relate to or arise out of or in connection with the ownership, use, operation, maintenance or occupancy of the Included Property of any Site that exist at the Initial Closing, any additional
Liabilities relating to, arising out of or in connection with such Liabilities from the continued ownership, use, operation, maintenance or occupancy of the Included Property of such Site after the Initial Closing (it being
understood and agreed that “additional Liabilities” shall not mean Liabilities unasserted prior to the Initial Closing). 

“Pre-Closing Claims Deductible” has the meaning set forth in
Section 11.5(a). 
 “Pre-Closing Liabilities” means all Liabilities to the
extent that they arise out of or relate to or are in connection with the ownership, operation, use, maintenance or occupancy of the Included Property of any Site by the AT&T Parties, the AT&T Newcos or the Sale Site Subsidiaries prior to the
Initial Closing Date (whether or not asserted as of or prior to the Initial Closing Date), including all payments due under any Ground Lease or Collocation Agreement (including Liabilities with respect to revenue sharing) prior to the Initial
Closing Date, except in each case to the extent taken into account in determining the proration of expenses pursuant to Section 2.8. For the avoidance of doubt, with respect to any Liabilities that arise out of or relate

  
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to or are in connection with the operation, use, maintenance or occupancy of the Included Property of any Site by the AT&T Parties, the AT&T Newcos or the Sale Site Subsidiaries that
exist at the Initial Closing, “Pre-Closing Liabilities” shall only include such Liabilities as of the Initial Closing, and shall not include any additional Liabilities relating to, arising out of or in connection with such Liabilities from
the continued ownership, use, operation, maintenance or occupancy of the Included Property of the Sites after the Initial Closing (it being understood and agreed that “additional Liabilities” shall not mean Liabilities
unasserted prior to the Initial Closing). 
 “Pre-Integration Records” means the
information and documentation reasonably necessary in connection with Acquiror’s pre-integration process and activities, which type of information and documentation is set forth on Schedule 6. 

“Pre-Lease Site” means any Contributable Site that has an unsatisfied or unaddressed
Leasing Exception. 
 “Preferred Stock” has the meaning set forth in
Section 7.8(c). 
 “Regional Listed Site” means a Site that
is listed as a proposed site or a final site on the National Priorities List, or state equivalent list, where (A) the National Priorities List or state equivalent list designation is solely the result of groundwater contamination underlying a
geographical region, the applicable Portfolio Site is not a cause of such contamination and the owner or operator of such Site would not reasonably be expected to be required to conduct or fund investigatory or remedial activities responding to such
contamination as a result of contamination at such Site and (B) the circumstances or conditions causing such Site to be a Regional Listed Site result in (1) the Tower on such Site being unusable as a communications tower or
(2) (I) the ability of the Tower on such Site to continue to be marketable as a communications tower and (II) the value of such Site being materially impaired. 

“Registration Statement” has the meaning set forth in Section 7.8(a).

 “Regulatory Condition” has the meaning set forth in
Section 9.2(a). 
 “Representations and Warranties
Deductible” has the meaning set forth in Section 11.5(a). 

“Representatives” means, with respect to a Person, its directors, officers, employees,
attorneys, accountants, consultants, bankers, financing sources, financial advisers and any other professionals or agents acting on behalf of any such Person. 

“Required Financial Statements” has the meaning set forth in
Section 9.13(a). 
 “Reserved Property” means the Land beneath any mobile
telephone switching office and other permanent structures (for the avoidance of doubt, other than a Tower) and any fuel tanks associated with any such office, in each case on the Sites set forth on Schedule 7, and any replacement thereof or
substitution therefor with a similar structure for so long as AT&T or any of its Affiliates maintains (without regard to any demolition in connection with the planned 

  
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replacement thereof or substitution therefor and any period of construction or restoration thereof) such structures or any replacement thereof or substitution therefor with a similar structure.

 “Reserved Property Lease” has the meaning set forth in Section
9.19(a). 
 “Sale Site MLA” has the meaning set forth in the
Recitals. 
 “Sale Site Subsidiary” has the meaning set forth in the
Recitals. 
 “Sale Site Subsidiary Certificate of Formation” has the
meaning set forth in Section 2.1(c). 
 “Sale Site Subsidiary
Interests” has the meaning set forth in Section 2.2(e). 

“Sale Site Subsidiary LLC Agreement” has the meaning set forth in
Section 2.1(c). 
 “Sale Sites” means the Portfolio Sites set forth in
Schedule 3 and any MPL Sites that are designated as Sale Sites in accordance with Section 4.8, including the Included Property relating thereto, other than any such sites designated as or deemed to be Excluded Sites following
the date of this Agreement in accordance with the terms of this Agreement (in each case from and after the date of such designation). 

“Securities Act” means the Securities Act of 1933, as amended. 

“SEC” means the United States Securities and Exchange Commission. 

“SEC Documents” has the meaning set forth in Section 7.5. 

“Schedule 7 Site” has the meaning set forth in Section 9.19(a).

 “Shelters” means walk-in ground shelters for purposes of housing
Communications Equipment, heating, ventilation and air conditioning units, generators and other equipment related to the use and operation of Communications Equipment; provided that such structure is owned and used, and intended for use,
exclusively by the AT&T Contributors or their Affiliates. For the avoidance of doubt, “Shelters” shall not include equipment cabinets. 

“Shared Site” means a Site that includes a Tower which is subject to an arrangement for
joint ownership or joint control between the applicable AT&T Contributor (or one of its Affiliates) and another Person that is not an AT&T Contributor (or one of its Affiliates). For the avoidance of doubt, a Collocation Agreement shall not
be deemed an arrangement for joint control or joint ownership of a Tower. 
 “Site
Designation” means, with respect to any Portfolio Site, the designation of such Portfolio Site into one or more of the following categories of Sites: (i) a Lease Site, (ii) a Pre-Lease Site, (iii) a Non-Contributable
Site, (iv) an Assignable Site, (v) a Non-Assignable Site, (vi) an Excluded Site, (vii) a Special Zoning Site, (viii) a Casualty Site, (ix) a Taken Site, (x) a Shared Site, (xi) a Non-Compliant Site subject to
a Material Site Non-Compliance Issue, (xii) a 

  
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Non-Compliant Site subject to a Material Site Title Issue and (xiii) an Environmental Site. Sites can have more than one designation, as applicable. 

“Site Lease Agreement” means, as to any Site, a supplement to the applicable MLA, in
substantially the form attached to the applicable MLA. 
 “Site List” means
Schedule 4. 
 “Sites” means the MPL Sites and the Sale Sites, whether or not a
Managed Site, but excluding any Portfolio Sites designated as or deemed to be Excluded Sites in accordance with the terms of this Agreement (in each case from and after the date of such designation). 

“Solvent” means, when used with respect to any Person, as of any date of determination,
(i) the amount of the “fair value” of the “property” of such Person will, as of such date, exceed the value of all “debts,” as of such date, as such quoted terms are generally determined in accordance with
applicable federal laws governing determinations of the insolvency of debtors, (ii) such Person will not have, as of such date, an unreasonably small amount of capital for the operation of the businesses in which it is engaged or about to be
engaged following such date and (iii) such Person will be able to pay its liabilities, including contingent and other liabilities, as they mature. 

“Special Zoning Site” means a Site that (i) prior to the Closing with respect to
such Site, received a zoning variance, exemption or other similar Order which permits its current use, (ii) would lose such variance, exemption or other Order if the Included Property of such Site were to be Leased to the Tower Operator or
transferred to the Sale Site Subsidiaries in the manner contemplated by this Agreement, and (iii) would not lose such variance, exemption or other similar Order if the Included Property of such Site were retained by the AT&T Contributors
and managed by the Tower Operator or the Sale Site Subsidiaries in accordance with the terms of the Management Agreement. 

“Specified Representations and Warranties” means the representations and warranties set
forth in Section 5.1, Sections 5.2(a) and (b), Section 5.10, Section 5.13, Section 5.14, Section 6.1, Section 6.2(a), Section 7.1,
Section 7.2(a) and (b), Section 7.6, Section 7.9, Section 7.10, Section 8.1 and Section 8.2. 

“Subsequent Closing” has the meaning set forth in Section 2.5(b).

 “Subsequent Closing Date” has the meaning set forth in
Section 2.6(a). 
 “Subsidiary” means, with respect to any
Person, any other Person (i) of which at least 50% of the securities or ownership interests having by their terms ordinary voting power to elect a majority of the board of directors or other persons performing similar functions is directly or
indirectly owned or controlled by such Person or by one or more of its Subsidiaries or (ii) of which such Person is the general partner. 

“Taken” means, as to any Portfolio Site, a condemnation, foreclosure, deed in lieu of
foreclosure or similar proceeding involving a Lien or Ground Lessor Mortgage that results in (i) the Tower on such Site being unusable as a communications tower or (ii) the ability of the Tower

  
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on such Site to continue to be usable as a communications tower being materially impaired and the value of such Site being materially impaired. 

“Taken Site” means a Site with respect to which a written notice from a Person (other
than a Party or Affiliate thereof) has been received prior to the Initial Closing Date by the AT&T Parties with respect to such Site, which if the claims in such notice are determined to be accurate it would cause such Site to be Taken.

 “Target Date” means December 16, 2013. 

“Tax” means all forms of taxation, whenever created or imposed, whether imposed by a
local, municipal, state, foreign, federal or other Governmental Authority, and whether imposed directly by a Governmental Authority or indirectly through any other Person and includes any federal, state, local or foreign income, gross receipts, ad
valorem, excise, value-added, sales, use, transfer, franchise, license, stamp, occupation, withholding, employment, payroll, property or environmental tax, levy, charge, assessment or fee together with any interest, penalty, addition to tax or
additional amount imposed by a Governmental Authority or indirectly through any other Person, as well as any liability for or in respect of the Taxes of, or determined by reference to the Tax liability of, another Person under Treasury Regulation
§ 1.1502-6 (or any similar provision of state, local or foreign Law), as a transferee or successor, by contract or otherwise. 

“Tax Return” means any return, report, statement, schedule, estimate, claim for refund
or other document filed or required to be filed with any Taxing Authority (including any amendment thereof or attachment thereto). 

“Taxing Authority” means any Governmental Authority responsible for the imposition or
administration of any Tax. 
 “Term,” as to any Site, has the meaning
set forth in the MPL. 
 “Termination Date” has the meaning set forth in
Section 12.1(b). 
 “Third Party Claim” has the meaning set
forth in Section 11.3(a). 
 “Third Party Claim Notice” has
the meaning set forth in Section 11.3(a). 
 “Title Company”
means one or more national title insurance companies (or agents thereof) reasonably designated by Acquiror. 

“Title Policies” has the meaning set forth in Section 9.8.

 “Tower” or “Towers” means the communications towers
on the Sites. 
 “Tower Bonds” means, collectively, any bonds, letters
of credit, deposits or other security interests, in each case, relating to the removal of a Tower from a Site. 

“Tower Operator” has the meaning set forth in the Recitals. 

  
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 “Tower Operator General Assignment and Assumption
Agreement” has the meaning set forth in the Recitals. 
 “Tower Operator
Interests” means the issued and outstanding limited liability company membership interests in the Tower Operator. 

“Tower Operator Material Adverse Effect” means any state of facts, change, effect,
condition, development, event or occurrence that is materially adverse to the assets, financial condition or results of operations of Acquiror and its Subsidiaries, taken as a whole; provided, however, that no adverse change or event
arising directly or indirectly from or otherwise relating directly or indirectly to any of the following shall be deemed either alone or in combination to constitute, and no such adverse change or event shall be taken into account in determining
whether there has been or would be, a Material Adverse Effect: (i) changes to the wireless communications industry in the United States generally or the communications tower ownership, operation, leasing, management and construction business in
the United States generally, (ii) the announcement or disclosure of the transactions contemplated by this Agreement, (iii) general economic, regulatory or political conditions in the United States or changes or developments in the
financial or securities markets, (iv) changes in GAAP or their application, (v) acts of war, military action, armed hostilities or acts of terrorism, (vi) changes in Law or (vii) the taking of any action by any Person which is
required to be taken pursuant to the terms of this Agreement, unless any of the facts, changes, effects, conditions, developments, or occurrences set forth in clauses (i), (iii) or (v) hereof disproportionately impacts or affects
Acquiror and its Subsidiaries, taken as a whole, as compared to other participants in the industries and businesses in which Acquiror and its Subsidiaries operate. 

“Tower Operator’s Share of Transaction Revenue Sharing Payments” means (i) 50%
of Transaction Revenue Sharing Payments payable as a result of, or otherwise triggered by, the payment contemplated by Section 2.2(c) and Section 3.2, (ii) 50% of Transaction Revenue Sharing Payments payable as a result
of, or otherwise triggered by, the payments of collocation rent or ground rent contemplated by the MLAs and (iii) all “Tower Operator Negotiated Increased Revenue Sharing Payments” under and as defined in the MLAs. 

“Tower Related Assets” means, with respect to each Tower, (i) to the extent such
rights are assignable or leasable, as the case may be, all rights to any warranties held by the AT&T Contributors or their respective Affiliates exclusively with respect to such Tower (or the related Site), (ii) to the extent such rights
are assignable or leasable without Authorization, as the case may be, all rights under any Governmental Approvals (other than Governmental Approvals granted by the FCC or any public utilities commission that are not antenna structure registrations
under Part 17 of the FCC rules) held exclusively with respect to the ownership or operation of such Tower (and of the related Sale Site if such Sale Site is an Owned Site), and that are not used by the AT&T Contributors in any part of their
respective businesses and operations other than the Collocation Operations, (iii) to the extent such rights are sublicensable or grantable without Authorization, as the case may be, a sublicense or other right to use any Governmental Approvals
(other than Governmental Approvals granted by the FCC or any public utilities commission that are not antenna structure registrations under Part 17 of the FCC rules) not held exclusively with respect to, but held in part for the benefit of, the
ownership or operation of such Tower (and of the related Site if such Site is an Owned Site) and (iv) all material Books and 

  
 -22- 

 
Records. For the avoidance of doubt, “Tower Related Assets” does not include any intellectual property or intangible rights or any Excluded Assets. 

“Tower Subtenant” means, as to any Site, any Person (other than an AT&T Contributor
or an Affiliate of AT&T), that (i) is a “sublessee”, “licensee” or “sublicensee” under any Collocation Agreement affecting the right to use Available Space at such Site (prior to the Initial Closing) or
(ii) subleases, licenses, sublicenses or otherwise acquires from the Tower Operator the right to use Available Space at such Site (from and after the Initial Closing). 

“Tower Subtenant Communications Equipment” means any Communications Equipment owned or
leased by a Tower Subtenant. 
 “Transaction Revenue Sharing Payment”
means any amounts payable, from time to time, to any Ground Lessor, whether as revenue sharing under any Ground Lease, as percentage rent, as an additional lump sum payment, as a fixed periodic increase in rent or otherwise, in each case resulting
from the payment contemplated by Section 2.2(c) and Section 3.2, or the payment of rent contemplated by the MLAs; provided, however, that “Transaction Revenue Sharing Payment” shall not include any
such payments payable to Acquiror or its Affiliate(s) with respect to any Sites (i) that are owned by Acquiror or its Affiliate(s) or with respect to which Acquiror or its Affiliate(s) is the Ground Lessor immediately prior to the applicable
Closing or (ii) that are acquired by Acquiror or its Affiliate(s) after the applicable Closing Date so long as no such payments were paid to the applicable Ground Lessor, or asserted (with a reasonable basis therefor) by the applicable Ground
Lessor to be payable to it, with respect to such Sites prior to the acquisition thereof by Acquiror or its Affiliate(s). 

“Transfer Tax” means all sales, use, license, value added, documentary, stamp, gross
receipts, registration, real estate transfer, conveyance, excise, recording and other similar Taxes and fees. 

“Transition Services” has the meaning set forth in Section 9.22.

 “Transition Services Agreement” has the meaning set forth in the
Recitals. 
 “Treasury Regulations” shall mean any temporary or final
regulations promulgated under the Code. 
 “Weekly Amount” has the meaning set forth
in Section 9.11(b). 
 “Willful and Intentional Breach” means a breach or
failure to perform that is a consequence of an act or omission undertaken by the breaching party with the knowledge that the taking of, or failure to take, such act would, or would reasonably be expect to, cause a breach of this Agreement.

 “Zoning Laws” means any zoning, land use or similar Laws, including Laws
relating to the use or occupancy of any communications towers or property, building codes, development orders, zoning ordinances, historic preservation laws and land use regulations. 

SECTION 1.2 Construction. Unless the express context otherwise requires: 

  
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 (a) the words “hereof”, “herein”, and “hereunder”
and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement; 

(b) the terms defined in the singular have a comparable meaning when used in the plural, and vice versa, and the singular
forms of nouns, pronouns and verbs shall include the plural and vice versa; 
 (c) any references herein to “$”
are to United States Dollars; 
 (d) any references herein to a specific Section, Schedule or Exhibit shall refer,
respectively, to Sections, Schedules or Exhibits of this Agreement; 
 (e) any references to any agreement, document or
instrument means such agreement, document or instrument as amended or otherwise modified from time to time in accordance with the terms thereof and, if applicable, hereof; 

(f) any use of the words “or”, “either” or “any” shall not be exclusive; 

(g) wherever the word “include,” “includes,” or “including” is used in this Agreement, it shall
be deemed to be followed by the words “without limitation”; 
 (h) any references to any agreement by, or
obligation of, the AT&T Contributors to take any action pursuant to this Agreement shall be deemed to mean that AT&T will cause the AT&T Contributors to take such action; and 

(i) references herein to any gender include each other gender. 

SECTION 1.3 Assignments; Transfers of Certain Assets and Liabilities. 

(a) Notwithstanding anything in this Agreement or any Collateral Agreement to the contrary, but without limiting any of the
AT&T Parties’ or AT&T Newcos’ duties and obligations arising under this Agreement or any Collateral Agreement, neither this Agreement nor any Collateral Agreement shall constitute an assignment, sublease, transfer or other
conveyance of any claim, contract, license, lease, sublease or commitment if an attempted assignment, sublease, transfer or other conveyance thereof, without the Authorization of a third-party thereto, would constitute a breach or violation thereof
or in any way adversely affect the rights of Acquiror or Tower Operator thereunder, but only to the extent such Authorization has not been obtained. 

(b) If any Authorization described in Section 1.3(a) is not obtained, or if any attempt at an assignment,
sublease, transfer or other conveyance thereof would be ineffective or would affect the rights of the AT&T Parties thereunder so that Acquiror, Tower Operator or, after the Initial Closing, the applicable Sale Site Subsidiary would not in fact
receive all such rights (including all such rights under Collocation Agreements) or would affect the ability of Acquiror, the Tower Operator or, after the Initial Closing, the applicable Sale Site Subsidiary to obtain the benefits and rights
contemplated by this Agreement and the Collateral Agreements, the AT&T Parties and the AT&T Newcos shall implement alternative arrangements reasonably acceptable 

  
 -24- 

 
to Acquiror and the AT&T Parties designed to ensure that, after the Initial Closing, Acquiror, Tower Operator and the applicable Sale Site Subsidiary obtain all such benefits and rights and
are in the same legal position as they would have been if such Authorization had been obtained, and the Parties acknowledge and agree that the Management Agreement generally is such an alternative arrangement with respect to contracts or agreements
applicable to a Managed Site. 
 (c) To the extent that, on and after the Initial Closing, Acquiror, the Tower Operator or
any Sale Site Subsidiary has acquired or assumed in connection with the transactions contemplated by this Agreement and the Collateral Agreements any Excluded Assets or Excluded Liabilities, the AT&T Parties and the AT&T Newcos shall, and
shall cause their respective Affiliates to, take all actions reasonably necessary to, and provide all reasonable assistance requested by Acquiror, the Tower Operator or any Sale Site Subsidiary to, effectuate the assignment, transfer, conveyance or
delivery of any such Excluded Assets and Excluded Liabilities back to the AT&T Parties or AT&T Newcos, as applicable. 
 ARTICLE 2

 CONTRIBUTION, CONVEYANCE/GRANT OF LEASEHOLD, SUBLEASEHOLD OR 

OTHER INTEREST AND CONSIDERATION 

SECTION 2.1 Formation of the AT&T Newcos, Sale Site Subsidiaries and Tower Operator. 

(a) On or prior to the Initial Closing Date, the applicable AT&T Parties shall: (i) form each AT&T Newco by
filing a certificate of formation for such AT&T Newco, in substantially the form set forth in Exhibit H (each, an “AT&T Newco Certificate of Formation”), with the Secretary of State of Delaware,
(ii) enter into a limited liability company agreement substantially in the form attached as Exhibit J (each, an “AT&T Newco LLC Agreement”) with the Independent Managers of such AT&T Newco,
(iii) enter into a separateness agreement, in substantially the form set forth in Exhibit I (each, an “AT&T Newco Separateness Agreement”), with Acquiror and the AT&T Newcos with respect to each AT&T
Newco and (iv) cause each AT&T Newco to be duly qualified in each jurisdiction in which an MPL Site held by such AT&T Newco is located and, in each case, provide Acquiror with evidence of the same. 

(b) On or prior to the Initial Closing Date, Acquiror shall: (i) form the Tower Operator by filing a certificate of
formation with the Secretary of State of Delaware, (ii) enter into a limited liability company agreement for the Tower Operator and (iii) cause the Tower Operator to be duly qualified in each jurisdiction in which an MPL Site held by the
Tower Operator is located and, in each case, provide AT&T with evidence of the same. 
 (c) On or prior to the Initial
Closing Date, the applicable AT&T Parties shall (i) form each Sale Site Subsidiary by filing a certificate of formation, in substantially the form set forth in Exhibit K (each, a “Sale Site Subsidiary Certificate of
Formation”), with the Secretary of State of Delaware, (ii) enter into a limited liability company agreement substantially in the form attached as Exhibit L (each, a “Sale Site Subsidiary LLC
Agreement”) and (iii) cause such Sale 

  
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Site Subsidiary to be duly qualified in each jurisdiction in which a Sale Site is located and, in each case, provide Acquiror with evidence of the same. 

SECTION 2.2 Closing Transactions. At the Initial Closing: 

(a) With respect to the Contributable Sites, the AT&T Contributors holding such Contributable Sites shall contribute,
convey, assign, transfer and deliver to the applicable AT&T Newco, and such AT&T Newco shall acquire, accept and assume from such AT&T Contributors, all of their respective right, title and interest in, to and under the Included Property
of such Contributable Sites, the related Collocation Agreements, and all Post-Closing Liabilities with respect to such Contributable Sites, and the AT&T Contributors shall retain responsibility for all Excluded Liabilities and Pre-Closing
Liabilities; 
 (b) With respect to the Assignable Sites, the AT&T Contributors holding such Assignable Sites shall
contribute, convey, assign, transfer and deliver to the applicable Sale Site Subsidiary, and such Sale Site Subsidiary shall acquire, accept and assume from such AT&T Contributors, all of their respective right, title and interest in, to and
under the Included Property of such Assignable Sites, the related Collocation Agreements and all Post-Closing Liabilities with respect to such Assignable Sites, and the AT&T Contributors shall retain responsibility for all Excluded Liabilities
and Pre-Closing Liabilities; 
 (c) Subject to the adjustments and prorations described in Section 2.8, Acquiror
shall pay to AT&T the Consideration in immediately available funds. Such funds shall be delivered by wire transfer to an account designated by AT&T (on behalf of the AT&T Contributors, their Affiliates and the AT&T Newcos) by written
notice to Acquiror delivered not later than three Business Days prior to the Initial Closing Date; 
 (d) With respect to
the Lease Sites, the applicable AT&T Newco holding such Lease Sites shall Lease to the Tower Operator the Included Property of such Lease Sites, transfer and assign to the Tower Operator all Collocation Agreements related to such Lease Sites and
assign and delegate to the Tower Operator, and the Tower Operator shall accept and assume, all Post-Closing Liabilities with respect to such Lease Sites, in each case, by the execution and delivery of the Tower Operator General Assignment and
Assumption Agreement and the MPL; 
 (e) The applicable AT&T Parties shall sell, convey, assign, transfer and deliver to
Acquiror (or one of its Affiliates designated by Acquiror) all of the issued and outstanding limited liability company membership interests in the Sale Site Subsidiaries (collectively, the “Sale Site Subsidiary Interests”)
free and clear of all Liens, and Acquiror shall purchase, acquire and assume the Sale Site Subsidiary Interests from the applicable AT&T Parties. Each of the applicable AT&T Parties and Acquiror shall execute and deliver an assignment and
assumption agreement, substantially in the form of Exhibit M (the “Membership Interest Assignment and Assumption Agreement”) pursuant to which the Sale Site Subsidiary Interests of the AT&T Parties shall be
transferred to Acquiror; 
 (f) With respect to the Managed Sites, the AT&T Contributors and the AT&T Newcos holding
such Managed Sites shall enter into the Management Agreement, and shall assign and delegate to the Tower Operator and the Sale Site Subsidiaries, as applicable, and the 

  
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Tower Operator and the Sale Site Subsidiaries, as applicable, shall accept and assume, all Post-Closing Liabilities with respect to such Managed Sites; 

(g) The Tower Operator, AT&T and the AT&T Collocators shall enter into the MPL Site MLA and each Sale Site Subsidiary,
AT&T and the AT&T Collocators shall enter into the Sale Site MLA; 
 (h) The AT&T Parties, the AT&T Newcos,
the Tower Operator and the Sale Site Subsidiaries shall enter into the Transition Services Agreement; 
 (i) The AT&T
Parties, the AT&T Newcos, the AT&T Collocators, the Sale Site Subsidiaries, Acquiror and the Tower Operator shall duly execute and deliver the certificates and other contracts, documents and instruments required to be delivered under
Article 10, including the Collateral Agreements, or in accordance with Section 9.3; 
 (j) Each
Portfolio Site will be designated either as an MPL Site, a Sale Site or an Excluded Site in accordance with the terms of this Agreement; and 

(k) AT&T will instruct Intralinks to provide Acquiror with the same access to the Data Room as AT&T has as of the date
of this Agreement, including the ability to print and download any documents and data, and control over the content of and access to the Data Room, which access and control shall not expire or terminate earlier than the date that is 90 days
following the Initial Closing Date, or will otherwise provide Acquiror with a copy of the materials contained in the Data Room. 

SECTION 2.3 Items Excluded from Transaction. 

(a) Except for the Post-Closing Liabilities, none of Acquiror, the Tower Operator or any of their respective Affiliates shall
assume any Liabilities of the AT&T Parties, the AT&T Contributors, the AT&T Newcos or the Sale Site Subsidiaries as of the Initial Closing. 

(b) Notwithstanding anything to the contrary contained herein, as a result of the consummation of the transactions
contemplated by this Agreement, neither Acquiror nor the Tower Operator shall lease, acquire or have any rights with respect to, or obligations to the extent relating to, (i) the Excluded Assets, the Excluded Liabilities or the Pre-Closing
Liabilities, and (ii) any and all rights or obligations that accrue or shall accrue to the AT&T Contributors or the AT&T Newcos or any of their respective Affiliates under this Agreement or any Collateral Agreement, and none of
Acquiror, Tower Operator or, after the Initial Closing, the Sale Site Subsidiaries, shall be liable as between the Parties for any Excluded Liabilities and Pre-Closing Liabilities. 

SECTION 2.4 As Is, Where Is. EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS AGREEMENT (I) IT IS THE
EXPLICIT INTENT OF EACH PARTY THAT THE PROPERTY BEING CONTRIBUTED, CONVEYED, ASSIGNED, TRANSFERRED AND DELIVERED BY THE AT&T CONTRIBUTORS, LEASED BY THE AT&T NEWCOS AND ACCEPTED BY THE TOWER OPERATOR IS BEING SO CONTRIBUTED, LEASED,
TRANSFERRED AND ACCEPTED “AS IS, WHERE IS,” WITH ALL FAULTS, AND THAT NO AT&T PARTY AND NO AT&T NEWCO IS MAKING ANY REPRESENTATION OR 

  
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WARRANTY WHATSOEVER, EXPRESS OR IMPLIED, OTHER THAN THOSE EXPRESSLY GIVEN IN THIS AGREEMENT (WHICH SHALL SURVIVE ONLY TO THE EXTENT SET FORTH IN SECTION 11.4, INCLUDING ANY IMPLIED
WARRANTY OR REPRESENTATION AS TO THE VALUE, CONDITION, MERCHANTABILITY OR SUITABILITY AS TO ANY OF THE SITES OR THE TOWERS AND EQUIPMENT LOCATED THEREON (OR THE COLLOCATION AGREEMENTS), AND ANY REPRESENTATION OR WARRANTY AS TO THE ENVIRONMENTAL
COMPLIANCE OR CONDITION OF THE SITES OR THE INCLUDED PROPERTY AND (II) PURSUANT TO THE MPL AND OTHER COLLATERAL AGREEMENTS, ACQUIROR AND THE TOWER OPERATOR SHALL ASSUME AND PAY, HONOR AND DISCHARGE WHEN DUE IN ACCORDANCE WITH THEIR TERMS ANY AND ALL
POST-CLOSING LIABILITIES. NOTWITHSTANDING ANYTHING CONTAINED IN THIS AGREEMENT TO THE CONTRARY, NO REPRESENTATION OR WARRANTY CONTAINED IN THIS AGREEMENT IS INTENDED TO, OR DOES, COVER OR OTHERWISE PERTAIN TO ANY EXCLUDED ASSETS OR EXCLUDED
LIABILITIES. 
 SECTION 2.5 Closing Place and Dates. 

(a) Initial Closing. The transactions described in Section 2.2 and Section 3.2 shall take place
at a closing (the “Initial Closing”) on the Target Date or on such earlier date as the Parties shall agree on in writing; provided, however, that if the applicable conditions set forth in Article 10
have not been satisfied on or prior to the Target Date, the Initial Closing shall take place on the fifth Business Day following the date that the applicable conditions set forth in Article 10 (other than conditions which are to be
satisfied by delivery at the Initial Closing) have been duly satisfied or waived or such other date as the Parties may mutually agree in writing. The Initial Closing shall be held at Sullivan & Cromwell LLP, 125 Broad Street, New York,
New York, or such other place upon which the Parties may agree in writing. 
 (b) Subsequent Closings. The conversion
of a Non-Contributable Site into a Contributable Site, a Pre-Lease Site into a Lease Site or a Non-Assignable Site into an Assignable Site subsequent to the Initial Closing Date (each a “Subsequent Closing”) shall occur
automatically following the satisfaction or cure of all of the Contribution Exceptions, Leasing Exceptions or Assignment Exceptions, as applicable, with respect to such Sites. For purposes of clarification, a Non-Contributable Site which is
converted into a Contributable Site, but for which there are remaining unsatisfied or uncured Leasing Exceptions, shall remain a Pre-Lease Site until such Leasing Exceptions are satisfied or cured. The Parties shall hold a closing (each a
“Documentary Subsequent Closing”) pursuant to Section 2.6 to confirm the occurrence of each such conversion. In addition, for purposes of clarification, subject to the terms and conditions of this Agreement, Sale
Sites shall be subject to the Sale Site MLA and MPL Sites shall be subject to the MPL Site MLA. 
 SECTION 2.6
Documentary Subsequent Closings; Contributions to AT&T Newcos. 
 (a) The Parties shall hold a Documentary
Subsequent Closing on such dates as either AT&T or Acquiror may reasonably request (but in no event shall a Documentary Subsequent Closing be held on a day that is not a Business Day or more frequently than once every 30 days

  
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or other interval as agreed to in writing by the Parties), subject to the requesting Party providing the other Parties with at least five Business Days’ notice prior to the date of such
Documentary Subsequent Closing; provided that the effective Closing Date for each Site that is converted from a Non-Contributable Site to a Contributable Site, from a Pre-Lease Site to a Lease Site or from a Non-Assignable Site to an
Assignable Site shall be the date of the Subsequent Closing for such Site (each, a “Subsequent Closing Date”). 

(b) At each Documentary Subsequent Closing, each Party shall execute and deliver to the other Parties, as applicable,
(i) amended schedules and exhibits to the MPL, (ii) amended schedules and exhibits to the applicable MLA, (iii) amended schedules and exhibits to the Management Agreement, (iv) with respect to each Site that is converted into an
Assignable Site at such Documentary Subsequent Closing, the documentation necessary to evidence the sale, conveyance, assignment, transfer and delivery of (A) the applicable AT&T Contributor’s right, title and interest in, to and under
such Site, the Included Property of such Site and any other assets and property that would transfer at such time if the date of such Documentary Subsequent Closing had been the date of the Initial Closing and (B) such other assets or property
in which the AT&T Contributors continue to have rights, (v) with respect to each Site that is converted into a Lease Site at such Documentary Subsequent Closing, the documentation necessary to evidence (A) the Lease to the Tower
Operator of the applicable Included Property and the transfer and assignation of all applicable Collocation Agreements and (B) the assignment and assumption of all applicable Post-Closing Liabilities, (vi) with respect to each Site that is
converted into a Contributable Site at such Documentary Subsequent Closing, the documentation necessary to evidence the contribution, conveyance, assignment, transfer and delivery to the applicable AT&T Newco of the applicable AT&T
Contributor’s right, title and interest in, to and under the Included Property of such Site and the applicable Collocation Agreements and Post-Closing Liabilities, (vi) amended schedules or exhibits to all other applicable Collateral
Agreements and (vii) such other agreements and documents as contemplated by Section 2.6(c). 
 (c) In
addition, at each Documentary Subsequent Closing, if, with respect to any Non-Contributable Site or Non-Assignable Site, the Contribution Exceptions, Assignment Exceptions or other matters that have caused such Site to be a Managed Site, as
applicable, with respect to such Site have been corrected or addressed since the previous Documentary Subsequent Closing or the Initial Closing, as applicable, then the AT&T Contributors shall on the terms set forth in this Agreement,
contribute, convey, assign, transfer and deliver to the applicable AT&T Newco in the case of a Contributable Site, or to the applicable Sale Site Subsidiary in the case of an Assignable Site, all of their respective right, title and interest in,
to and under the Included Property of such Sites and the related Collocation Agreements by the execution and delivery of the instruments of conveyance and assignment as may be reasonably necessary for the AT&T Contributors to contribute, convey,
assign, transfer and deliver to such AT&T Newco or Sale Site Subsidiary, as applicable, all of their respective right, title and interest in, to and under the Included Property of such Sites and the related Collocation Agreements and amended
schedules or exhibits to all applicable Collateral Agreements, in each case, in form and substance reasonably acceptable to the Parties. 

  
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 SECTION 2.7 Preparation of Closing Documents. 

(a) The AT&T Parties shall prepare (using the information set forth on the Site List or the Closing Site List, as
applicable) and, if applicable, notarize all the Collateral Agreements and all the exhibits to the Collateral Agreements (except for the Site Lease Agreements and Memorandum of Site Lease Agreements, which shall be prepared in accordance with
Section 2.7(b)) for the Initial Closing, in each case in form and substance reasonably satisfactory to Acquiror and, to the extent applicable, in form sufficient for recordation. 

(b) The Site Lease Agreement applicable to each of the Sites shall be prepared in accordance with the MPL Site MLA and the
Sale Site MLA, as applicable. For each Lease Site, following the Initial Closing, the AT&T Collocators and the Tower Operator shall each have the right, at its sole cost and expense, to cause a Memorandum of Site Lease Agreement to be filed in
the appropriate county or other local property records (unless the Ground Lease for any applicable Lease Site prohibits such recording) to provide constructive notice to third parties of the existence of the applicable MLA and shall promptly
thereafter provide or cause to be provided in electronic form a recorded copy of same to the other Parties. 
 (c) In
addition to and not in limitation of any other provision of this Agreement, the Parties shall have the right to review and make corrections, if necessary, to any Memorandum of Site Lease Agreement or any exhibit thereto. After making such
corrections, the Party that recorded the Memorandum of Site Lease Agreement shall re-record such Memorandum of Site Lease Agreement to reflect such corrections, at the sole cost and expense of the Party that requested such correction, and shall
promptly provide in electronic form a recorded copy of same to the other Party. 
 (d) The Parties shall cooperate with each
other to cause changes to be made in the Memorandum of Site Lease Agreement for each Site, if such changes are requested by either Party to evidence any changes in the description of the Lease Site respecting such Site or equipment or improvements
thereof as may be agreed by the Parties, and the Party that requested such changes to the Memorandum of Site Lease Agreement shall record same at its sole cost and expense and shall promptly provide in electronic form a recorded copy of same to the
other Party. 
 (e) From and after the date of this Agreement, if the public land records do not reflect the current
AT&T Contributor as the named tenant of record under a Ground Lease (or the named owner of an Owned Site), and any Ground Lessor Estoppel or other documentation obtained or prepared in connection with the transactions contemplated hereby does
not cure this condition, Acquiror shall notify the AT&T Contributors and the AT&T Parties shall execute and deliver to Acquiror such documentation as Acquiror may prepare and as is reasonably necessary to correct the public land records with
respect to such ownership (the “Confirmatory Assignments”); provided, however, that the execution and delivery of any Confirmatory Assignment shall not be a condition to any Closing. 

(f) Acquiror shall prepare, and, at Acquiror’s reasonable request, the AT&T Parties shall use commercially reasonable
efforts to cooperate with Acquiror to execute, deliver and record, all intermediate assignments from the original lessee under a Ground Lease to the 

  
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applicable AT&T Contributor that currently holds such Ground Lease that have not been recorded in the public land records (the “Corrective Assignments”), in each case
in form and substance reasonably satisfactory to Acquiror and in form sufficient for recordation; provided, however, that the execution and recordation of such Corrective Assignments shall not be a condition to any Closing. To the
extent requested by Tower Operator and the Sale Site Subsidiaries, the AT&T Contributors shall assist the Tower Operator and the Sale Site Subsidiaries in the preparation of the Corrective Assignments. The AT&T Contributors shall submit to
the Tower Operator and the Sale Site Subsidiaries, as applicable, an invoice for, and the Tower Operator and the Sale Site Subsidiaries, as applicable, shall reimburse the AT&T Contributors for, their reasonable out-of-pocket costs and expenses
incurred in assisting in the preparation of any Corrective Assignments. 
 (g) If, prior to or after the applicable Closing,
any Party identifies, in its reasonable judgment, any corrections to any Site Lease Agreement, Memorandum of Site Lease Agreement, Confirmatory Assignment, Corrective Assignment, Ground Lessor Estoppel, Non-Disturbance Agreement or other recorded
document, such Party shall promptly notify the other Party and the Parties shall cooperate in good faith to effect an appropriate correction to that document and, if such document is a recorded document, to promptly record such corrected document in
accordance with Section 2.9. 
 SECTION 2.8 Prorating of Expenses. Except as otherwise
provided in the MPL and the MLAs, as of the Initial Closing Date, prorations of receivables, payables, expenses, revenue and property or ad valorem Taxes relating to the use, occupancy and operation of the Included Property of the Sites shall be
made on an accrual basis, with the AT&T Contributors being obligated to make any payments in respect of payables and expenses (including ground rent payments under Ground Leases), and being entitled to retain any receivables and revenue
(including collocation revenue under Collocation Agreements and prepaid rent), in respect of events and for periods and portions thereof prior to the Initial Closing Date, and the Tower Operator or the Sale Site Subsidiaries, as applicable, being
obligated to make any payments in respect of payables and expenses (including ground rent payments under Ground Leases, except as set forth in the following proviso), and being entitled to receive any receivables and revenue (including collocation
revenue under Collocation Agreements and prepaid rent), in respect of events and for periods and portions thereof on and subsequent to the Initial Closing Date; provided, however, that (a) the AT&T Contributors shall not be
entitled to any reimbursement, credit or payment for or any prorated benefit from, and the Tower Operator and the Sale Site Subsidiaries, as applicable, shall be entitled to retain and benefit from, any prepayments of ground rent under Ground Leases
and (b) the Tower Operator and the Sale Site Subsidiaries shall not be entitled to any credit or payment for or any prorated benefit from, and the AT&T Contributors shall be entitled to retain any benefit from, any prepayment of rent under
Collocation Agreements, in each case of (a) and (b), where such prepayments, when made, were on account of periods of 12 months or more (including, for the avoidance of doubt, with respect to periods and portions thereof on and subsequent
to the Initial Closing Date). The Parties shall work in good faith to determine and finalize any amounts due under this Section 2.8 prior to the Initial Closing Date. The net amount of the prorations set forth in this
Section 2.8 shall be credited to (or debited from) the Consideration payable by Acquiror at the Initial Closing. For purposes of this Section 2.8, Taxes shall be accrued in accordance with Section 11.1(a)(iii).

  
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 SECTION 2.9 Recordation; Signage. 

(a) The AT&T Parties and the AT&T Newcos acknowledge and agree that, from and after the Initial Closing Date,
Acquiror, the Tower Operator and the Sale Site Subsidiaries shall be permitted to record and, if necessary, re-record any documents (including any Site Lease Agreement, Memorandum of Site Lease Agreement (unless the Ground Lease for any applicable
Lease Site or any Collocation Agreement prohibits such recording), Corrective Assignment, Confirmatory Assignment, Ground Lessor Estoppel or Non-Disturbance Agreement) that are necessary or desirable to give effect to the transactions contemplated
by this Agreement and the Collateral Agreements, in each case without any prior notice to or the prior consent of any AT&T Party or any AT&T Newco. 

(b) Prior to the recordation or re-recordation of any document, to the extent reasonably practicable, the Tower Operator or
Sale Site Subsidiaries, as applicable, shall cause a copy thereof to be delivered to AT&T, and the Tower Operator or Sale Site Subsidiaries, as applicable, shall further cause a copy of the recorded or re-recorded document to be delivered to
AT&T promptly after recordation thereof. The AT&T Parties and the AT&T Newcos shall execute all documents reasonably requested by the Tower Operator or Sale Site Subsidiaries to effect any such recordation or re-recordation and shall
cooperate with the Tower Operator or Sale Site Subsidiaries, as applicable, in pursuing such recordation or re-recordation. The AT&T Contributors shall submit to the Tower Operator or Sale Site Subsidiaries, as applicable, an invoice for, and
the Tower Operator or Sale Site Subsidiaries, as applicable, shall reimburse the AT&T Contributors and the AT&T Newcos for, their reasonable out-of-pocket costs and expenses incurred in cooperating with the Tower Operator or Sale Site
Subsidiaries, as applicable, in pursuing such recordation or re-recordation. 
 (c) The Tower Operator and Sale Site
Subsidiaries shall, from and after the Initial Closing Date, have the right to place, at their sole cost and expense, signage on any Site to put third parties on notice of its interest in such Site, subject to compliance with applicable Laws and any
Ground Lease applicable to such Site in question. 
 SECTION 2.10 Taxes; Bulk Sales. 

(a) Taxes. Except as expressly provided in this Agreement, the MPL or the MLAs, the AT&T Contributors shall be
responsible for and shall pay all Taxes to the extent attributable to the ownership of the Sites or the Included Property of the Sites by any AT&T Party, any AT&T Newco or any third party (other than Tower Operator, any Affiliate of Tower
Operator, any direct or indirect transferee of Tower Operator or of any Affiliate of Tower Operator, or any Tower Subtenant), and the Tower Operator and Sale Site Subsidiaries shall be responsible for and shall pay all Taxes to the extent
attributable to the possession or operation of the Sites or the Included Property of the Sites or the ownership, possession or operation of any assets on the Sites by any Person described in the immediately preceding parenthetical clause. For the
avoidance of doubt, except as expressly set forth in the MPL or the MLAs, each Party shall be responsible for Taxes imposed on its own income and no Party shall be entitled to indemnification for Taxes imposed on income. 

  
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 (b) Payment. Acquiror agrees that the payment contemplated by
Section 2.2(c) and Section 3.2 to be made by Acquiror is non-refundable and that Acquiror shall not have any right of abatement, reduction, setoff, counterclaim, rescission, recoupment, refund, defense or deduction with
respect thereto, including in connection with any event of default by the AT&T Parties, the AT&T Newcos or their respective Affiliates or any casualty or condemnation, in each case except as otherwise contemplated by this Agreement or the
Collateral Agreements. 
 (c) Bulk Sales. Acquiror and the AT&T Contributors hereby waive compliance by Acquiror
and the AT&T Contributors with the provisions of the “bulk sales,” “bulk transfer” and similar Laws; provided, however, that such waiver is not intended to preclude the AT&T Contributors from claiming bulk
sale or bulk transfer treatment on the transfer of the assets to the AT&T Newcos and Sale Site Subsidiaries. 
 (d)
Tax Cooperation. The Parties will furnish or cause to be furnished to each other, upon request, as promptly as practicable, such information and assistance relating to the Sale Site Subsidiaries and Included Property transferred pursuant to
this Agreement (including access to books and records) as is reasonably necessary for the filing of all Tax Returns, the making of any election relating to Taxes, the preparation for any audit by any Taxing Authority, and the prosecution or defense
of any Claims relating to any Tax. Any expenses incurred in furnishing such information or assistance will be borne by the Party requesting it. 

(e) Income Tax Treatment. It is intended that, solely for United States federal (and other applicable) income Tax
purposes, Acquiror will be treated as purchasing the Sale Sites (or, as applicable, the interests in the Sale Sites held by the AT&T Contributors and the AT&T Newcos) pursuant to this Agreement on the Initial Closing Date, and each of
Acquiror, AT&T and their Affiliates will file all Tax Returns consistent with such treatment. Each of the Parties agrees that it shall (i) be bound by the allocation of the consideration set forth in Section 2.10(g) of this
Agreement and Exhibits C and D of the MPL for purposes of determining Taxes (but not for any other purpose), (ii) prepare and file, and cause its Affiliates to prepare and file, its Tax Returns on a basis consistent with such
allocation, and (iii) take no position, and cause its Affiliates to take no position, inconsistent with such allocation on any applicable Tax Return, except as otherwise required by Law or an Order. If such allocation is disputed by any
Governmental Authority with taxing authority, the Party receiving notice of such dispute shall promptly notify the other Parties of such dispute. In addition, the Parties acknowledge and agree that the MPL and the Management Agreement are each
intended to be treated for U.S. federal income Tax purposes as a lease between the applicable AT&T Party, the AT&T Newcos and Tower Operator, as applicable, with respect to the MPL Sites and the Managed Sites (excluding any Managed Sale
Site), as applicable, and the Parties further agree to not take any position on any Tax Return that is inconsistent with such treatment, except as otherwise required by Law or an Order. 

(f) Transfer Taxes. All Transfer Taxes imposed as a result of the sale of the Sale Sites (or, as applicable, the
interests in the Sale Sites held by the AT&T Contributors and the AT&T Newcos) pursuant to this Agreement shall be borne equally by the AT&T Contributors, on the one hand, and Tower Operator, on the other hand. Such Transfer Taxes shall
be governed by the rules and procedures set forth in Section 22(d) of the MPL (substituting references to “AT&T Contributors” in place of references to “AT&T Lessors”). For the avoidance of doubt,

  
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Acquiror and the Tower Operator shall have no responsibility for any Transfer Taxes with respect to a Site imposed with respect to transfers exclusively between AT&T and its Affiliates. 

(g) Tax Allocations. Subject to Section 1.3, Section 2.8 and Article 3, the Parties
agree that the Consideration shall be allocated for Tax purposes among each of the Tranches of Sites (as defined in the MPL) and the Sale Sites in accordance with an appraisal by PricewaterhouseCoopers LLP of the aggregate value of all of the
Tranches of Sites (as defined in the MPL) and the Sale Sites, all as determined as of the Initial Closing Date. Any refund payments made pursuant to Article 4 shall, to the fullest extent permitted by applicable Law, be treated for all Tax
purposes as adjustments to the Consideration and allocations required by the preceding sentence. 
 SECTION 2.11
Integrated Transactions. The Parties acknowledge and agree that: (i) the transactions contemplated by this Agreement and the Collateral Agreements are dependent upon one another, (ii) the Parties would not have entered
into this Agreement and the Collateral Agreements unless this Agreement and all of the Collateral Agreements were being entered into as and when contemplated and (iii) this Agreement and the Collateral Agreements are to be treated as a single
integrated and indivisible agreement for all purposes, including the Bankruptcy of any Party. 
 ARTICLE 3 

SITE LISTS; PAYMENT OF CONSIDERATION 

SECTION 3.1 Site Lists. 

(a) AT&T has prepared in good faith and delivered to Acquiror, and Acquiror has reviewed, the Site List attached hereto as
Schedule 4, which categorically identifies, as of the date of this Agreement, (i) all Lease Sites, (ii) all Pre-Lease Sites, (iii) all Non-Contributable Sites, (iv) all Assignable Sites, (v) all Non-Assignable
Sites, (vi) all Excluded Sites (specifying whether any such Excluded Sites are Shared Sites, Casualty Sites, Taken Sites, Non-Compliant Sites, Environmental Sites, Portfolio Sites subject to Transaction Revenue Sharing Payments or are otherwise
Excluded Sites pursuant to clause (vii) of Section 4.3(b)), (vii) all Special Zoning Sites, (viii) all Casualty Sites, (ix) all Taken Sites, (x) all Shared Sites, (xi) all Non-Compliant Sites subject to a
Material Site Non-Compliance Issue, (xii) all Non-Compliant Sites subject to a Material Site Title Issue and (xiii) all Environmental Sites (specifying whether any such Excluded Sites are Regional Listed Sites or Non-Regional Listed
Sites). 
 (b) At least 10 Business Days prior to the Initial Closing Date, Acquiror shall prepare in good faith and deliver
to AT&T an updated list (the “Closing Site List”) which categorically identifies, as of the date thereof, (i) all Lease Sites, (ii) all Pre-Lease Sites, (iii) all Non-Contributable Sites, (iv) all
Assignable Sites, (v) all Non-Assignable Sites, (vi) all Excluded Sites (specifying whether any such Excluded Sites are Shared Sites, Casualty Sites, Taken Sites, Non-Compliant Sites, Environmental Sites, Portfolio Sites subject to
Transaction Revenue Sharing Payments, Portfolio Sites that are deemed to be Excluded Sites pursuant to Section 9.19(b) or are otherwise Excluded Sites pursuant to clause (vii) of Section 4.3(b)), (vii) all Special
Zoning Sites, (viii) all Casualty Sites, (ix) Taken Sites, (x) all Shared Sites, (xi) all Non-Compliant Sites subject to a Material Site Non-Compliance Issue, (xii) all Non-Compliant Sites

  
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subject to a Material Site Title Issue and (xiii) all Environmental Sites (specifying whether any such Excluded Sites are Regional Listed Sites or Non-Regional Listed Sites). To facilitate
the preparation of the Closing Site List by Acquiror, the AT&T Parties shall use commercially reasonable efforts to promptly provide Acquiror, following reasonable advance notice, with such documentation and information and reasonable access
during normal business hours to such employees of, or professionals retained by, the AT&T Parties and their respective Affiliates as Acquiror may reasonably request and that is reasonably necessary in order for Acquiror to prepare the Closing
Site List; provided that such access shall not unreasonably interfere with the business operations of the AT&T Parties and their respective Affiliates. 

(c) If Acquiror designates on the Closing Site List (i) any Sites as Pre-Lease Sites that were designated as
Non-Contributable Sites on the Site List, (ii) any Sites as Lease Sites that were designated as Non-Contributable Sites or Pre-Lease Sites on the Site List, (iii) any Sites as Assignable Sites that were designated as Non-Assignable Sites
on the Site List or (iv) any Portfolio Sites as Excluded Sites that were not designated as Excluded Sites on the Site List, and AT&T, in good faith, disagrees with such redesignation, AT&T will notify Acquiror in writing at least five
Business Days prior to the Initial Closing that AT&T so disagrees. Each such notification shall describe in reasonable detail the reasons for AT&T’s disagreement. 

(d) For the avoidance of doubt, the Parties agree that, except for Acquiror’s and the AT&T Parties’ covenants or
other obligations expressly set forth in this Section 3.1, the matters described in this Section 3.1 shall not be considered as representations, warranties, covenants or obligations of Acquiror or AT&T under this
Agreement. 
 SECTION 3.2 Payment of Consideration. At the Initial Closing, Acquiror shall pay for
the account of the AT&T Newcos or the AT&T Parties, as applicable, by wire transfer to an account designated by AT&T, as consideration for (a) the Lease of the Lease Sites and the Included Property of the Lease Sites (including the
related Collocation Agreements), (b) the specified rights with respect to the Managed Sites and the Included Property of the Managed Sites (including the related Collocation Agreements) and (c) the Sale Site Subsidiary Interests, a cash
amount equal to the Consideration as required by Section 2.2(c). 
 SECTION 3.3 Allocation of
Rent. 
 (a) At or prior to the Initial Closing, AT&T shall cause to be delivered to the Tower Operator a draft
of Exhibit D to the MPL. The method of allocating the prepaid rent for an MPL Site among the years in the applicable lease term as required for such Exhibit D shall be within the safe harbors permitted by Section 467 of
the Code and Treasury Regulation §1.467-3(c)(3) and otherwise as proposed by AT&T in a draft of such Exhibit D, and AT&T’s draft of such Exhibit D shall be incorporated into the MPL. 

(b) At or prior to the Initial Closing, AT&T shall cause to be delivered to the Tower Operator a draft of Exhibit C
to the MPL. The allocation of Rent and Pre-Lease Rent as required for such Exhibit C shall be consistent with the requirements of Section 2.10(g) of this Agreement and otherwise as proposed by AT&T in such draft of Exhibit
C, and AT&T’s draft of such Exhibit C shall be incorporated into the MPL. 

  
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 ARTICLE 4 

OTHER PROCEDURES FOR SITES 

SECTION 4.1 Contributable Sites; Lease Sites; Assignable Sites. 

(a) If (i) there are no Contribution Exceptions with respect to an MPL Site or (ii) all of the Contribution
Exceptions with respect to an MPL Site have been corrected or addressed, then, except as otherwise provided in this Article 4, such Site shall thereafter be deemed to be a “Contributable Site”;
provided, however, that a Special Zoning Site shall not be deemed a Contributable Site. 
 (b) With respect to
each Contributable Site, if (i) there are no Leasing Exceptions with respect to such Site or (ii) all of the Leasing Exceptions with respect to such Site have been corrected or addressed, then, except as otherwise provided in this
Article 4, such Site shall thereafter be deemed to be a “Lease Site”. 
 (c) If
(i) there are no Assignment Exceptions with respect to a Sale Site or (ii) all of the Assignment Exceptions with respect to a Sale Site have been corrected or addressed, then, except as otherwise provided in this Article 4, such
Site will thereafter be deemed to be an “Assignable Site”; provided, however, that a Special Zoning Site shall not be deemed an Assignable Site. 

SECTION 4.2 Certain Procedures with Respect to Identifying and Curing Exceptions. 

(a) From and after the date of this Agreement until the date that is 18 months after the Initial Closing Date (the
“Final Closing Date”), the Parties shall coordinate and cooperate in good faith to identify and cure any and all Exceptions and to cause the conversion of any Managed Sites to Lease Sites or Assignable Sites, as applicable.
Notwithstanding the foregoing, (i) Acquiror shall have principal responsibility for devising and implementing the strategy for curing any and all Exceptions (other than with respect to Consents to be obtained from AT&T Subsidiaries or with
respect to the Tower Subtenants referred to in Section 4.2 of the AT&T Disclosure Letter); provided that the implementation of such strategy shall be subject to the prior written consent of AT&T, such consent not to be
unreasonably withheld, delayed or conditioned, (ii) with respect to Consents to be obtained from AT&T Subsidiaries or the Tower Subtenants referred to in Section 4.2 of the AT&T Disclosure Letter, the Parties shall coordinate and
cooperate in good faith to devise and implement the strategy for obtaining such Consents, (iii) Acquiror shall be permitted to unilaterally prepare and deliver (and re-deliver) Consent Agreements and receive Consents from and after the date of
this Agreement (other than with respect to those Persons described in clause (ii) above, with respect to which the Parties shall coordinate and cooperate in good faith in preparing and delivering (and re-delivering) Consent Agreements and
receiving Consents), (iv) the AT&T Parties and their respective representatives shall not unilaterally prepare and deliver (and re-deliver) Consent Agreements or receive Consents, or otherwise unilaterally initiate contact with any Person
for the purpose of discussing such Consent Agreements and Consents without the prior written consent of Acquiror, such consent not to be unreasonably withheld or delayed (it being understood that the AT&T Parties

  
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and their respective representatives shall participate in preparing and delivering (and re-delivering) Consent Agreements and receiving Consents to and from those Persons referred to in clause
(ii) above); provided, however, that the Parties and their respective representatives may receive unsolicited communications from any Person regarding any of the foregoing matters; and (v) Acquiror shall, in the case of each
Authorization that requires only notice to be delivered to a Person, use commercially reasonable efforts to deliver a Notice to each such Person as promptly as reasonably practicable after the date of this Agreement. If the AT&T Parties or their
respective representatives receive unsolicited communications from any Person regarding any of the foregoing matters, the AT&T Parties and their respective representatives (i) shall, to the extent reasonably practicable, direct any Person
that initiates contact with the AT&T Parties or their respective representatives to contact Acquiror and (ii) may respond to any unsolicited communications that are non-written. Acquiror shall exercise its rights under this
Section 4.2(a) in a manner that does not unreasonably interfere with the business activities or relationships of the AT&T Parties. 

(b) Except for preparing and delivering (and, if applicable, re-delivering) Notices and Consent Agreements and receiving
Consents, from the date of this Agreement until the Initial Closing Date, Acquiror shall (i) not initiate contact (A) with any Ground Lessor other than for the purpose of soliciting Consents and (B) with any Ground Lessor or any other
Person in connection with any notices or requests for consents to assignments, transfers, leases and subleases of Ground Leases, in each case without first affording AT&T a reasonable opportunity to participate in such contact, (ii) include
AT&T in any written communications with any such Person, (iii) to the extent reasonably practicable, not engage in any telephone conversations with any such Person without a representative of AT&T having been invited to participate on
such call, and if a representative of AT&T is not on such call, promptly following the conclusion of such call, notify AT&T of any such telephone conversations, (iv) obtain approval from AT&T for the content of any such
communications, such approval not to be unreasonably withheld, delayed or conditioned and (v) provide AT&T with copies of all written or other communications from such Persons. With respect to the receipt of written and telephone
communications from any Person in connection with identifying and curing Exceptions and causing the conversion of any Managed Sites to Lease Sites or Assignable Sites, as applicable, including the receipt of Consents and any other responses to
notices or requests for consents to assignments, transfers, leases and subleases of the Ground Leases, Acquiror shall, in consultation with AT&T, establish a return mailing address or addresses and a telephone hotline number or numbers as
determined by Acquiror in consultation with AT&T. From the date of this Agreement until the Initial Closing Date, AT&T shall be permitted to have its representatives present at the facilities established by Acquiror to receive and review any
such responses. Notwithstanding anything to the contrary in this Section 4.2, the provisions of Sections 4.2(a) and (b) (other than the first sentence of Section 4.2(a)) shall not apply with respect to any
Authorization required under the organizational documents of any AT&T Subsidiary, for which AT&T shall (1) be solely responsible for devising and implementing the strategy for obtaining any such Authorizations and (2) use
commercially reasonable efforts to obtain any such Authorizations as promptly as reasonably practicable following the date of this Agreement. 

(c) Notwithstanding anything to the contrary contained in this Agreement, from and after the Final Closing Date, Acquiror, the
Tower Operator and the Sale Site Subsidiaries may, in their respective discretion, continue any efforts, from time to time, to cure any remaining 

  
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Exceptions, and the AT&T Parties and the AT&T Newcos shall execute and deliver to Acquiror, the Tower Operator or the Sale Site Subsidiaries, as applicable, such documentation as
Acquiror, the Tower Operator or the Sale Site Subsidiaries may prepare and as may be reasonably requested by Acquiror, the Tower Operator or the Sale Site Subsidiaries, as applicable, from time to time with respect thereto, including execution of
the documents required for additional Documentary Subsequent Closings. The Tower Operator or Sale Site Subsidiaries, as applicable, shall reimburse the AT&T Contributors and the AT&T Newcos for their reasonable out-of-pocket costs and
expenses related to providing assistance pursuant to this Section 4.2(c) after the Final Closing Date. 
 (d)
Following the cure of any Exceptions with respect to a Site, the Party that obtained the Authorization that resulted in such cure shall provide written notice to the other Parties, identifying the Site together with the related Exceptions that were
cured and containing a brief statement regarding how such Exceptions were cured. 
 (e) Between the date of this Agreement
and the Initial Closing, Acquiror shall not, and shall cause its Affiliates and its and their respective officers, directors, employees and representatives not to, take any actions designed and a purpose of which is to cause third parties to provide
notices that any Portfolio Site is a Taken Site or a Non-Compliant Site. 
 (f) To the extent reasonably requested by
Acquiror, the Tower Operator or, after the Initial Closing, the Sale Site Subsidiaries, the Parties shall take all actions and execute all documents, in each case, reasonably necessary to ensure that, in the event a Portfolio Site was incorrectly
designated as of immediately prior to the Initial Closing on the Closing Site List, Acquiror, the Tower Operator and the applicable Sale Site Subsidiary are, subject to the proviso at the end of this sentence, put in the same legal position as they
would have been in had such Portfolio Site been correctly designated on the Closing Site List, including, in the event any Site has been re-designated as a Managed Site from its original Site Designation on the Closing Site List, to rescind the
transaction that occurred with respect to such Site at the Initial Closing under this Agreement and the Collateral Agreements; provided, however, that, in connection with this Section 4.2(f), in no event shall (A) a
Portfolio Site designated on Schedule 1 as an MPL Site be re-designated as a Sale Site, (B) a Portfolio Site designated on Schedule 3 as a Sale Site be re-designated as an MPL Site, (C) any Site not designated as a Shared
Site, Casualty Site, Taken Site, Non-Compliant Site or Environmental Site at the Initial Closing be re-designated as such after the Initial Closing or (D) any Site not designated or deemed to be an Excluded Site at the Initial Closing in
accordance with the terms of this Agreement be re-designated as an Excluded Site after the Initial Closing. In furtherance of the foregoing, the Parties shall use commercially reasonable efforts to execute and deliver, as applicable,
(i) amended schedules and exhibits to the MPL, (ii) amended schedules and exhibits to the applicable MLA, (iii) amended schedules and exhibits to the Management Agreement, (iv) amended schedules or exhibits to all other
applicable Collateral Agreements and (v) the documentation necessary to sell, convey, assign, transfer and deliver the applicable AT&T Contributor’s right, title and interest in, to and under each Assignable Site and the Included
Property of such Assignable Site. 

  
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 SECTION 4.3 Shared Sites; Excluded Sites. 

(a) Shared Sites. If a Site is designated as a Shared Site on the Closing Site List and is not designated as an
Excluded Site by AT&T in accordance with Section 4.3(b), such Site shall be deemed (a) in the case of an MPL Site that is a Shared Site, a Non-Contributable Site, and (b) in the case of a Sale Site that is a Shared Site, a
Non-Assignable Site, in each case until such time as the circumstances causing such Site to be a Shared Site have been cured. AT&T and the AT&T Contributors shall use commercially reasonable efforts to cause the circumstances causing such
Site to be a Shared Site to be cured as promptly as reasonably practicable. If the circumstances causing such Site to be a Shared Site have not been cured by the Final Closing Date, then promptly thereafter the Parties shall take all actions and
execute all documents reasonably necessary (and any necessary amendments to existing documentation as appropriate) to ensure that the Parties are in the same legal position as they would have been if such Site was an Excluded Site at the Initial
Closing, including rescinding the transaction that occurred with respect to such Site at the Initial Closing under this Agreement and the Collateral Agreements, and, in accordance with Section 4.10, AT&T refunding the Excluded Site
Consideration for such Site to Acquiror, as adjusted for any Excluded Site Collocation Payments theretofore actually received by Acquiror, the Tower Operator or the Sale Site Subsidiaries after the Initial Closing and any out-of-pocket amounts
theretofore actually paid by Acquiror, the Tower Operator or the Sale Site Subsidiaries with respect to such Site after the Initial Closing (including any rent or other payments to any Ground Lessor and any other out-of-pocket costs and expenses of
Acquiror, the Tower Operator or the Sale Site Subsidiaries incurred in the ordinary course of business, in connection with such Site) (the amount of such adjustment with respect to each applicable Site, the “Net Amount”);
provided, however, that if Acquiror, the Tower Operator or the Sale Site Subsidiaries agree to any increases in the rent or other payments to Ground Lessors prior to the date any Net Amount is paid in accordance with
Section 4.10, the Net Amount shall be calculated assuming the terms of the applicable Ground Lease as of the Initial Closing Date were in effect through the date of such payment. In furtherance of the foregoing, the Parties shall execute
and deliver, as applicable, (i) amended schedules and exhibits to the MPL, (ii) amended schedules and exhibits to the applicable MLA, (iii) amended schedules and exhibits to the Management Agreement and (iv) amended schedules or
exhibits to all other applicable Collateral Agreements. 
 (b) Excluded Sites. The AT&T Parties may elect, in
their sole discretion, by written notice to Acquiror given at any time prior to the date that is five Business Days prior to the Initial Closing Date, to designate as an “Excluded Site” and exclude from the transactions contemplated by
this Agreement (i) any Shared Site, (ii) any Casualty Site, (iii) any Taken Site, (iv) any Non-Compliant Site, (v) any Environmental Site, (vi) any Portfolio Sites subject to Transaction Revenue Sharing Payments and
(vii) any other Site; provided, however, that the AT&T Parties may designate no more than 100 Excluded Sites pursuant to clause (vii) of this Section 4.3(b). In addition, (A) any Portfolio Site that is
designated as a Non-Regional Listed Site and any Site that AT&T and Acquiror agree in writing is Taken, in each case at least five Business Days prior to the Initial Closing Date, and (B) any Portfolio Site deemed to be an Excluded Site
pursuant to Section 9.19(b), shall be deemed to be an Excluded Site at the Initial Closing. Upon the designation of a Site as an Excluded Site in accordance with this Agreement, all references to such Portfolio Site in the
representations and warranties contained in this Agreement (other than Section 5.9(b) and Section 5.15) shall be deemed to have been deleted. 

  
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 SECTION 4.4 Special Zoning Sites. 

If, prior to the Closing with respect to a Site, the AT&T Parties or Acquiror become aware that a Site constitutes a
Special Zoning Site (and such Site was not designated as a Special Zoning Site on the Site List), the AT&T Parties or Acquiror, as the case may be, shall promptly notify the other Parties in writing that it considers such Site to be a Special
Zoning Site, with reasonable specificity as to the reasons therefor. If a Site is designated as a Special Zoning Site on the Closing Site List, then such Site shall be deemed (a) in the case of an MPL Site that is a Special Zoning Site, a
Non-Contributable Site, and (b) in the case of a Sale Site that is a Special Zoning Site, a Non-Assignable Site, in each case until such time as the circumstances causing such Site to be a Special Zoning Site have been cured. Until the Final
Closing Date, the AT&T Parties and the AT&T Newcos shall use commercially reasonable efforts to provide Acquiror, the Tower Operator and the Sale Site Subsidiaries, as applicable, with such assistance as may be reasonably requested by
Acquiror, the Tower Operator or the Sale Site Subsidiaries, as applicable, from time to time with respect to any efforts to cure the circumstances causing any Site to be a Special Zoning Site. 

SECTION 4.5 Casualty Sites. 

(a) If, prior to the Initial Closing, the AT&T Parties or Acquiror become aware that a Site constitutes a Casualty Site
(and such Site was not designated as a Casualty Site on the Site List), the AT&T Parties or Acquiror, as the case may be, shall promptly notify the other Parties in writing that it considers such Site as a Casualty Site, with reasonable
specificity as to the reasons therefor. The determination that a Site is a Casualty Site at the Initial Closing shall be made by Acquiror in its reasonable discretion acting in good faith, without regard to any Site Designation set forth on the Site
List. 
 (b) With respect to each Site designated as a Casualty Site on the Closing Site List, the AT&T Parties may, at
their option, elect promptly following the Initial Closing to (i) repair, at their sole cost and expense, the Tower as necessary so as to cause such Site to no longer be a Casualty Site (and to the extent needed to repair the physical damage
caused by the applicable casualty event) and shall use their commercially reasonable efforts to commence such actions promptly following any such election, (ii) promptly (but in any event no later than 10 Business Days following request)
reimburse Acquiror and the Tower Operator for their documented commercially reasonable out-of-pocket costs and expenses incurred by any of them in connection with their repair of the Tower to the extent (and only to the extent) that such repairs are
necessary to cause such Site to no longer be a Casualty Site (and to the extent needed to repair the physical damage caused by the applicable casualty event) (a good faith estimate of which Acquiror shall provide to the AT&T Parties upon the
AT&T Parties’ request) or (iii) designate such Casualty Site as an Excluded Site in accordance with Section 4.3(b); provided, however, that in the event the AT&T Parties elect the option described in
clause (i), (A) the AT&T Parties shall use their commercially reasonable efforts to take the actions contemplated in clause (i) as promptly as reasonably practicable and (B) if the AT&T Parties or AT&T Newcos do not repair
the Tower pursuant to clause (i) by the Final Closing Date, then promptly thereafter the Parties shall take all actions, make all payments and execute all documents reasonably necessary (and any necessary amendments to existing documentation as
appropriate) to ensure that the Parties are in the same legal position as they would have been if 

  
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such Site were originally an Excluded Site at the Initial Closing, including rescinding the transaction that occurred with respect to such Site at the Initial Closing under this Agreement and the
Collateral Agreements, and, in accordance with Section 4.10, AT&T refunding the Excluded Site Consideration for such Site to Acquiror, as adjusted for the Net Amount with respect to such Site. In furtherance of the foregoing, the
Parties shall execute and deliver, as applicable, (A) amended schedules and exhibits to the MPL, (B) amended schedules and exhibits to the applicable MLA, (C) amended schedules and exhibits to the Management Agreement and
(D) amended schedules or exhibits to all other applicable Collateral Agreements. 
 SECTION 4.6 Taken
Sites. 
 (a) If, prior to the Initial Closing, the AT&T Parties or Acquiror become aware that (i) a Site
is Taken or (ii) a Site constitutes a Taken Site (and such Site was not designated as a Taken Site on the Site List), the AT&T Parties or Acquiror, as the case may be, shall promptly notify the other Parties in writing that it considers
such Site to be Taken or a Taken Site, with reasonable specificity as to the reasons therefor. The designation of a Site as a Taken Site at the Initial Closing shall be made by Acquiror in its reasonable discretion acting in good faith, without
regard to any Site Designation set forth on the Site List. 
 (b) If AT&T and Acquiror agree that a Site is Taken prior
to the Initial Closing Date, such Site shall be deemed to be an Excluded Site at the Initial Closing in accordance with Section 4.3(b). If a Site is designated in accordance with Section 4.6(a) as a Taken Site and is not
designated as an Excluded Site by AT&T in accordance with Section 4.3(b), then, if such Site is not Taken prior to the Initial Closing and prior to the date that is 12 months following the Initial Closing Date such Site is Taken
and there has not been a final non-appealable Order reversing the outcome that such Site has been Taken (it being agreed that the AT&T Parties shall have the right to assume the defense of such claims at its cost; provided,
however, that such 12-month period shall be suspended during any period during which the AT&T Parties or Acquiror or its Affiliates are defending such claims), then promptly thereafter the Parties shall take all actions and execute all
documents reasonably necessary (and any necessary amendments to existing documentation as appropriate) to ensure that the Parties are in the same legal position as they would have been if such Site was an Excluded Site at the Initial Closing,
including rescinding the transaction that occurred with respect to such Site at the Initial Closing under this Agreement and the Collateral Agreements, and, in accordance with Section 4.10, AT&T refunding the Excluded Site
Consideration for such Site to Acquiror, as adjusted for the Net Amount with respect to such Site. In furtherance of the foregoing, the Parties shall execute and deliver, as applicable, (i) amended schedules and exhibits to the MPL,
(ii) amended schedules and exhibits to the applicable MLA, (iii) amended schedules and exhibits to the Management Agreement and (iv) amended schedules or exhibits to all other applicable Collateral Agreements. 

(c) Acquiror and the Tower Operator shall coordinate with the AT&T Parties prior to Acquiror and the Tower Operator
incurring any out-of pocket costs and expenses in connection with any efforts to avoid a Taken Site from being Taken. In the event that the AT&T Parties approve the incurrence of such costs and expenses, the AT&T Parties or the AT&T
Newcos shall be responsible for reimbursing, and shall promptly (but in any event no later than 10 Business Days following request with reasonable detail therefor) reimburse, Acquiror and the Tower 

  
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Operator for all commercially reasonable out-of-pocket costs and expenses incurred by any of them in connection with any efforts to avoid any Taken Site being Taken. 

SECTION 4.7 Non-Compliant Sites. 

(a) If, prior to the Initial Closing, the AT&T Parties or Acquiror become aware that a Site constitutes a Non-Compliant
Site, the AT&T Parties or Acquiror, as the case may be, shall promptly notify the other Parties in writing that it considers such Site to be a Non-Compliant Site, with reasonable specificity as to the reasons therefor. The designation of a Site
as a Non-Compliant Site at the Initial Closing shall be made by Acquiror in its reasonable discretion acting in good faith, without regard to any Site Designation set forth on the Site List. 

(b) If a Site is designated as a Non-Compliant Site in accordance with Section 4.7(a) as a result of clause
(ii) of the definition thereof, then: 
 (i) If AT&T does not designate such Site as an Excluded
Site in accordance with Section 4.3(b), such Site shall be deemed (a) in the case such Site is an MPL Site, a Non-Contributable Site, and (b) in the case such Site is a Sale Site, a Non-Assignable Site, in each case until such
time as the circumstances causing such Site to be a Non-Compliant Site have been cured. 
 (ii) If between
the date of this Agreement and the date that is 12 months following the Initial Closing Date, a court of competent jurisdiction determines that a Site had a Material Site Title Issue as of immediately prior to the Initial Closing (it being agreed
that the AT&T Parties shall have the right to assume the defense of such claims at their cost; provided, however, that such 12-month period shall be suspended during any period during which the AT&T Parties are defending such
claims) and AT&T is unable to cure the circumstance resulting in such Site having a Material Site Title Issue as of immediately prior to the Initial Closing Date by the later of the end of such 12-month period (as may be extended) or three
months after such final Order, then promptly thereafter the Parties shall take all actions and execute all documents reasonably necessary (and any necessary amendments to existing documentation as appropriate) to ensure that the Parties are in the
same legal position as they would have been if such Site was an Excluded Site at the Initial Closing, including rescinding the transaction that occurred with respect to such Site at the Initial Closing under this Agreement and the Collateral
Agreements, and, in accordance with Section 4.10, AT&T refunding the Excluded Site Consideration for such Site to Acquiror, as adjusted for the Net Amount with respect to such Site. In furtherance of the foregoing, the Parties shall
execute and deliver, as applicable, (i) amended schedules and exhibits to the MPL, (ii) amended schedules and exhibits to the applicable MLA, (iii) amended schedules and exhibits to the Management Agreement and (iv) amended
schedules or exhibits to all other applicable Collateral Agreements. 
 (c) If a Portfolio Site is designated as a
Non-Compliant Site in accordance with Section 4.7(a) as a result of a Material Site Non-Compliance Issue (and is not designated by AT&T as an Excluded Site in accordance with Section 4.3(b)), such Portfolio Site shall be
deemed a Non-Contributable Site (in the case of an MPL Site) or a Non-Assignable Site (in the 

  
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case of a Sale Site) at the Initial Closing. AT&T and the AT&T Contributors shall use commercially reasonable efforts to cause the circumstances causing such Site to be a Non-Compliant
Site to be cured as soon as reasonably practicable. If the circumstances causing such Site to have a Material Site Non-Compliance Issue have not been cured by the Final Closing Date, then promptly thereafter the Parties shall take all actions and
execute all documents reasonably necessary (and any necessary amendments to existing documentation as appropriate) to ensure that the Parties are in the same legal position as they would have been if such Site was an Excluded Site at the Initial
Closing, including rescinding the transaction that occurred with respect to such Site at the Initial Closing under this Agreement and the Collateral Agreements, and, in accordance with Section 4.10, AT&T refunding the Excluded Site
Consideration for such Site to Acquiror, as adjusted for the Net Amount with respect to such Site. In furtherance of the foregoing, the Parties shall execute and deliver, as applicable, (i) amended schedules and exhibits to the MPL,
(ii) amended schedules and exhibits to the applicable MLA, (iii) amended schedules and exhibits to the Management Agreement and (iv) amended schedules or exhibits to all other applicable Collateral Agreements. 

(d) Acquiror and the Tower Operator shall coordinate with the AT&T Parties prior to Acquiror and the Tower Operator
incurring any out-of pocket costs and expenses in connection with any efforts to cause the circumstances causing any Site to be a Non-Compliant Site to be cured. In the event that the AT&T Parties approve the incurrence of such costs and
expenses, the AT&T Parties or the AT&T Newcos shall be responsible for reimbursing, and shall promptly (but in any event no later than 10 Business Days following request with reasonable detail therefor) reimburse, Acquiror and the Tower
Operator for all commercially reasonable out-of-pocket costs and expenses incurred by any of them in connection with any efforts to cause the circumstances causing any Site to be a Non-Compliant Site to be cured. 

SECTION 4.8 Transaction Revenue Sharing Payments. 

(a) Subject to Section 9.10, each Party shall promptly notify the other Parties in the event that any Ground
Lessor makes a claim or demand for a Transaction Revenue Sharing Payment. 
 (b) If the AT&T Parties reasonably
determine in good faith that Transaction Revenue Sharing Payments are reasonably likely to become due and payable with respect to any MPL Site following the consummation of the transactions contemplated by this Agreement and the Collateral
Agreements, the AT&T Parties and the AT&T Newcos shall have the right, in their discretion but in consultation with Acquiror and the Tower Operator, prior to the Initial Closing, to designate such MPL Site as a Sale Site or as an Excluded
Site pursuant to Section 4.3(b)(vi); provided that such designation shall eliminate, in the reasonable determination of Acquiror and AT&T, the grounds for such Transaction Revenue Sharing Payment with respect to such MPL Site.
In addition, if Acquiror or the Tower Operator reasonably determines in good faith that Transaction Revenue Sharing Payments are reasonably likely to become due and payable with respect to any MPL Site following the consummation of the transactions
contemplated by this Agreement and the Collateral Agreements, Acquiror, the Tower Operator and, after the Initial Closing Date, the Sale Site Subsidiaries shall have the right, in their sole discretion, (i) prior to the Initial Closing, to
designate such MPL Site as a Managed MPL Site and (ii) after the Initial Closing, to rescind the transaction that occurred with respect to such MPL Site at the applicable 

  
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Closing and designate and treat such MPL Site as a Managed Site, in which case the AT&T Parties and the AT&T Newcos shall grant to the Tower Operator, pursuant to the Management
Agreement, the right to operate such Site as a Managed Site and administer the related Collocation Agreements; provided that, upon the exercise of such right, the AT&T Parties and the AT&T Newcos shall take all actions and execute all
documents reasonably necessary (and any necessary amendments to existing documents as appropriate) to ensure that the Parties are in the same legal position as they would have been if such Site were originally a Managed Site. In furtherance of the
foregoing, the Parties shall execute and deliver, as applicable, (A) amended schedules and exhibits to the MPL, (B) amended schedules and exhibits to the applicable MLA, (C) amended schedules and exhibits to the Management Agreement
and (D) amended schedules or exhibits to all other applicable Collateral Agreements. 
 SECTION 4.9
Environmental Sites. 
 (a) If, prior to the Initial Closing, the AT&T Parties or Acquiror become aware
that a Site constitutes an Environmental Site, the AT&T Parties or Acquiror, as the case may be, shall promptly notify the other Parties in writing that it considers such Site to be an Environmental Site, with reasonable specificity as to the
reasons therefor. The designation of a Site as an Environmental Site at the Initial Closing shall be made by Acquiror in its reasonable discretion acting in good faith, without regard to any Site Designation set forth on the Site List. 

(b) If a Site is a Non-Regional Listed Site, such Portfolio Site shall be deemed to be an Excluded Site at the Initial Closing
in accordance with Section 4.3(b). If a Site is designated as a Regional Listed Site on the Closing Site List and is not designated as an Excluded Site by AT&T in accordance with Section 4.3(b), such Site shall be deemed
(a) in the case such site is an MPL Site, a Non-Contributable Site, and (b) in the case such site is a Sale Site, a Non-Assignable Site, in each case until such time as the circumstances causing such Site to be an Environmental Site have
been cured. AT&T and the AT&T Contributors shall, if practicable, use commercially reasonable efforts to cause the circumstances causing such Regional Listed Site to be an Environmental Site to be cured as promptly as reasonably practicable.
If the circumstances causing such Regional Listed Site to be an Environmental Site have not been cured by the Final Closing Date, then promptly thereafter the Parties shall take all actions and execute all documents reasonably necessary (and any
necessary amendments to existing documentation as appropriate) to ensure that the Parties are in the same legal position as they would have been if such Site was an Excluded Site at the Initial Closing, including rescinding the transaction that
occurred with respect to such Site at the Initial Closing under this Agreement and the Collateral Agreements, and, in accordance with Section 4.10, AT&T refunding the Excluded Site Consideration for such Site to Acquiror, as adjusted
for the Net Amount with respect to such Site. In furtherance of the foregoing, the Parties shall execute and deliver, as applicable, (i) amended schedules and exhibits to the MPL, (ii) amended schedules and exhibits to the applicable MLA,
(iii) amended schedules and exhibits to the Management Agreement and (iv) amended schedules or exhibits to all other applicable Collateral Agreements. 

(c) Acquiror and the Tower Operator shall coordinate with the AT&T Parties prior to Acquiror and the Tower Operator
incurring any out-of pocket costs and expenses in connection with any efforts to cause the circumstances causing any Regional Listed Site to be an Environmental Site to be cured. In the event that the AT&T Parties approve the incurrence of

  
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such costs and expenses, the AT&T Parties or the AT&T Newcos shall be responsible for reimbursing, and shall promptly (but in any event no later than 10 Business Days following request
with reasonable detail therefor) reimburse, Acquiror and the Tower Operator for all commercially reasonable out-of-pocket costs and expenses incurred by any of them in connection with any efforts to cause the circumstances causing any Regional
Listed Site to be an Environmental Site to be cured. 
 SECTION 4.10 Refund of Excluded Site
Consideration. If applicable, the AT&T Parties shall make payment to Acquiror on the date that is 15 Business Days after the Final Closing Date in respect of all Portfolio Sites with respect to which AT&T is required to refund the
Excluded Site Consideration under this Article 4. The amount of the Excluded Site Consideration to be refunded to Acquiror on such date shall be an amount equal to the excess, if any, of (1) the product of (a) the aggregate number
of Excluded Sites designated as such pursuant to Section 4.3(b) (other than clauses (vi) and (vii) thereof and any Portfolio Site that is deemed to be an Excluded Site pursuant to Section 9.19(b)) or that are
returned to the AT&T Parties after the Initial Closing pursuant to Sections 4.3(a), 4.5, 4.6, 4.7 or 4.9 minus 18, multiplied by (b) the Excluded Site Consideration calculated in accordance with clause
(ii) of the definition of “Excluded Site Consideration” with respect to all Excluded Sites designated as such pursuant to Section 4.3(b) (other than clauses (vi) and (vii) thereof and any Portfolio Site that is
deemed to be an Excluded Site pursuant to Section 9.19(b)) or that are returned to the AT&T Parties after the Initial Closing pursuant to Sections 4.3(a), 4.5, 4.6, 4.7 or 4.9, less (2) the
amount, if any, of the Excluded Site Consideration deducted from the Portfolio Sites Fixed Amount at the Initial Closing with respect to the Excluded Sites designated as such at the Initial Closing pursuant to Section 4.3(b) (other than
clauses (vi) and (vii) thereof and any Portfolio Site that is deemed to be an Excluded Site pursuant to Section 9.19(b)). In addition, subject to compliance with the following sentence, on such date, with respect to each
Portfolio Site that is returned to the AT&T Parties after the Initial Closing pursuant to Sections 4.3(a), 4.5, 4.6, 4.7 or 4.9, (A) Acquiror, the Tower Operator or the Sale Site Subsidiaries, as
applicable, shall refund to the AT&T Parties the aggregate Net Amount with respect to all such Portfolio Sites, if the aggregate Net Amount with respect to all such Portfolio Sites is positive and (B) the AT&T Parties shall reimburse
Acquiror, the Tower Operator or the Sale Site Subsidiaries, as applicable, for the aggregate Net Amount with respect to all such Portfolio Sites, if the aggregate Net Amount with respect to all such Portfolio Sites is negative. No later than five
Business Days following the Final Closing Date, Acquiror shall provide AT&T with Acquiror’s calculation of the Net Amount with respect to each Portfolio Site for which AT&T is required to refund the Excluded Site Consideration under
this Article 4, together with reasonable supporting documentation. Notwithstanding anything in this Agreement to the contrary, the out-of-pocket amounts paid by Acquiror, the Tower Operator or the Sale Site Subsidiaries included in the Net
Amount shall be reduced by any reimbursements made by AT&T or its Affiliates in respect thereof. 
 ARTICLE 5 

REPRESENTATIONS AND WARRANTIES OF THE AT&T PARTIES 

Except as disclosed in the corresponding sections or subsections of the AT&T Disclosure Letter (it being agreed that,
notwithstanding the foregoing, disclosure of any item in any section 

  
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of the AT&T Disclosure Letter shall be deemed disclosure of such item with respect to any other section of the AT&T Disclosure Letter to the extent that the relevance of such item to such
other section is reasonably apparent from the face of such disclosure), AT&T represents and warrants to Acquiror and the Tower Operator as follows: 

SECTION 5.1 Organization. 

(a) Each AT&T Party is a corporation or other entity duly organized, validly existing and in good standing under the laws
of the state of its organization with the requisite corporate or other power and authority to carry on its business (including the ownership, lease and operation of the Included Property of the Sites) as it is now being conducted and is duly
qualified and in good standing as a foreign entity in each jurisdiction in which the character of the Included Property owned, leased or operated by it requires such qualification, except for such qualifications the failure of which to obtain would
not, individually or in the aggregate, reasonably be expected to prevent, materially delay or materially impair the ability of such AT&T Party to consummate the transactions contemplated by this Agreement and the Collateral Agreements to which
it is a party. Each AT&T Contributor and each AT&T Newco is a wholly owned Subsidiary of AT&T. 
 (b) At the
Initial Closing, each AT&T Newco and Sale Site Subsidiary shall be a limited liability company duly organized, validly existing and in good standing under the laws of the state of Delaware with the requisite limited liability power and authority
to carry on its business (including, if applicable, the ownership, lease and operation of the Included Property of the Sites) as shall be conducted at the Initial Closing, and shall be duly qualified and in good standing as a foreign entity in each
jurisdiction in which the character of the Included Property that shall be owned, leased or operated by it requires such qualification (or applications for such qualification shall have been filed), except for such qualifications (or filing of
applications to qualify) the failure of which to obtain or file would not, individually or in the aggregate, reasonably be expected to prevent, materially delay or materially impair the ability of such AT&T Newco and Sale Site Subsidiary to
consummate the transactions contemplated by this Agreement and the Collateral Agreements to which it is a party. 

SECTION 5.2 Authority; Enforceability; No Conflicts. 

(a) Each AT&T Party that is a party hereto has the requisite corporate or other power and authority to execute and deliver
this Agreement, to perform its obligations under this Agreement and to consummate the transactions contemplated by this Agreement, and each AT&T Party has or shall have the requisite corporate or other power and authority to execute and deliver
each Collateral Agreement to which it is a party, to perform its obligations thereunder and to consummate the transactions contemplated thereby. The execution and delivery by each AT&T Party that is a party hereto of this Agreement and the
consummation of the transactions contemplated by this Agreement have been, and the execution and delivery by each AT&T Party of the Collateral Agreements to which it is a party and the consummation of the transactions contemplated thereby shall
have been on or prior to the Initial Closing Date, duly authorized by all requisite corporate or other action of each AT&T Party that is a party hereto. Each AT&T Party that is a party hereto (i) has duly executed and delivered this
Agreement, (ii) on the Initial Closing Date shall have duly executed and delivered each of the Collateral Agreements to which 

  
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it is a party (if any) and (iii) on each Documentary Subsequent Closing Date, shall have duly executed and delivered the amended schedules and exhibits to the existing, or new, Collateral
Agreements to which it is a party, as the case may be. Assuming the due execution and delivery of each such agreement by each party thereto other than each AT&T Party party thereto, this Agreement is the legal, valid and binding obligation of
each AT&T Party that is a party hereto, and on the Initial Closing Date each of the Collateral Agreements to which each AT&T Party is a party (as amended at such time and as theretofore amended) shall be the legal, valid and binding
obligation of such Person, in each case enforceable against it in accordance with its respective terms, subject to the effect of Bankruptcy, insolvency, reorganization, moratorium or other similar Laws relating to or affecting the rights of
creditors generally and to the effect of the application of general principles of equity. 
 (b) At the Initial Closing,
each AT&T Newco and Sale Site Subsidiary shall have the limited liability company power and authority to execute and deliver the applicable Joinder Agreement and each Collateral Agreement to which it is a party, to perform its obligations
thereunder and to consummate the transactions contemplated hereby and thereby. The execution and delivery by each AT&T Newco and Sale Site Subsidiary of the applicable Joinder Agreement and each Collateral Agreement to which it is a party and
the consummation of the transactions contemplated hereby and thereby shall have been duly authorized on or prior to the Initial Closing Date by all requisite limited liability company action of each AT&T Newco and Sale Site Subsidiary. At the
Initial Closing, each AT&T Newco and Sale Site Subsidiary shall have duly executed and delivered the applicable Joinder Agreement and each of the Collateral Agreements to which it is a party (if any). Assuming the due execution and delivery of
each such agreement by each party thereto other than each AT&T Newco and Sale Site Subsidiary, on the Initial Closing Date, the applicable Joinder Agreement and each of the Collateral Agreements to which each AT&T Newco and Sale Site
Subsidiary is a party (as amended at such time and as theretofore amended) shall be the legal, valid and binding obligation of such Person, in each case enforceable against it in accordance with its respective terms subject to the effect of
Bankruptcy, insolvency, reorganization, moratorium or other similar Laws relating to or affecting the rights of creditors generally and to the effect of the application of general principles of equity. 

(c) The execution, delivery and performance by each AT&T Party of this Agreement and each of the Collateral Agreements to
which it is a party (if any), and the consummation of the transactions contemplated hereby and thereby on their terms and conditions, do not (or would not if it were a party hereto) and shall not result in (i) a breach or violation of, or a
conflict with, any provision of the certificates of incorporation or formation, bylaws, limited liability company agreements, partnership agreements or other organizational documents of each AT&T Party, as applicable, (ii) a breach or
violation of, or a conflict with, any provision of Law or a Governmental Approval (excluding any Governmental Approval from a Governmental Authority in its role as a Ground Lessor under a Ground Lease) to which such AT&T Party or the Included
Property is subject or (iii) a breach or violation of, or a conflict with, or constitute a default under, or permit the acceleration of any Liability or result in the creation of any Lien upon any of the properties or assets constituting
Included Property of an AT&T Party under, any Material Agreements (including any Material Agreement with a Governmental Authority in its role as a Ground Lessor under a Ground Lease), except, in the case of clauses (ii) and (iii), for any
such conflict, breach, violation, default, acceleration or creation that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

  
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 (d) At the Initial Closing, the execution, delivery and performance by each
AT&T Newco and Sale Site Subsidiary of the applicable Joinder Agreement and each of the Collateral Agreements to which it is a party, and the consummation of the transactions contemplated hereby and thereby on their terms and conditions, shall
not result in (i) a breach or violation of, or a conflict with, any provision of the AT&T Newco Certificate of Formation, the AT&T Newco LLC Agreement, the applicable Sale Site Subsidiary Certificate of Formation, the applicable Sale
Site Subsidiary LLC Agreement or other organizational documents of each AT&T Newco or Sale Site Subsidiary, (ii) a breach or violation of, or a conflict with, any provision of Law or a Governmental Approval (excluding any Governmental
Approval from a Governmental Authority in its role as a Ground Lessor under a Ground Lease) to which such AT&T Newco, Sale Site Subsidiary or the Included Property is subject or (iii) a breach or violation of, or a conflict with, or
constitute a default under, or permit the acceleration of any Liability or result in the creation of any Lien upon any of the properties or assets constituting Included Property of any AT&T Newco or Sale Site Subsidiary under any Material
Agreement of any AT&T Newco or Sale Site Subsidiary (including any Material Agreement with a Governmental Authority in its role as a Ground Lessor under a Ground Lease), except, in the case of clauses (ii) and (iii), for any such conflict,
breach, violation, default, acceleration or creation that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

SECTION 5.3 Title to Property. 

(a) The applicable AT&T Contributor holds (i) a valid and subsisting leasehold, subleasehold, easement, license or
sublicense or other similar valid interest in the Ground Leased Sites Land related to each Site and (ii) good and marketable fee simple title to the Owned Sites Land, in each case free and clear of all Liens, except for Permitted Liens. The
applicable AT&T Contributor owns or has rights in all right, title and interest in, to and under all of the Included Property of each Site (other than the Land related to such Site), free and clear of any Liens, except for Permitted Liens. 

(b) At the Initial Closing, with respect to each Contributable Site and Assignable Site, good and marketable fee simple title
to the Owned Sites Land and good and marketable title to, or a valid and subsisting leasehold, subleasehold, easement, license or sublicense interest in, to and under, and all other rights and interests of the AT&T Contributors and their
Affiliates in, or has rights in to and under, all of the Included Property of each Contributable Site and Assignable Site (other than the Owned Sites Land related to Owned Sites) shall pass to the applicable AT&T Newco or Sale Site Subsidiary,
as applicable, in each case free and clear of all Liabilities, except for Post-Closing Liabilities relating to such Contributable Site or Assignable Site, and free and clear of all Liens, except for Permitted Liens. 

(c) At the Initial Closing, with respect to each Managed Site, the AT&T Parties and the AT&T Newcos party to the
Management Agreement shall have the exclusive right to operate such Managed Site (including the Included Property thereof). 

  
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 SECTION 5.4 Real Property. 

(a) (i) No AT&T Contributor or Affiliate thereof owns the fee simple interest in or other Ground Lessor interest in
any Ground Leased Site, (ii) no AT&T Contributor or Affiliate thereof is a party to any agreement with any Person (other than this Agreement) to transfer or encumber all or any portion of any Site (excluding, for these purposes, the rights
of the Tower Subtenants under the Collocation Agreements, immaterial dedications to Governmental Authorities, Permitted Liens and any Ground Lessor’s reversionary interest in a Tower upon the termination of the respective Ground Lease or right
to use a portion of such Tower during the term of the Ground Lease without additional payment) and (iii) none of the lenders of the AT&T Parties or any of their Affiliates has a security interest in a Site or the Included Property thereof.

 (b) To the Knowledge of the AT&T Parties, as of the date of this Agreement, no AT&T Party has received written
notice that any condemnation or rezoning proceedings have been instituted with respect to any Site, except for any proceeding that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

SECTION 5.5 Other Property. 

(a) Each Site includes a Tower that is operational and in satisfactory order and repair (consistent with industry standards
for wireless communications tower sites and other than ordinary wear and tear) and each Site includes Tower Related Assets that are in satisfactory working order; provided, however, that the AT&T Parties make no representation with
respect to any Excluded Assets. 
 (b) Each Site has the rights to install, maintain and use utilities for provision of
electric power and access to a form of telecommunications service, except where the failure to have such rights would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(c) Each Site has vehicular ingress and egress to public streets or private roads that is suitable for the purposes used by
the applicable AT&T Party in the ordinary course of business, except where the failure to have such ingress or egress would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect and except for Sites
which are accessed by helicopter or by other means of transportation in the ordinary course of maintenance and repair. 

(d) The Included Property of the Sites, taken as a whole, have been operated and maintained, in all material respects, in the
ordinary course of business and consistent with past practice and in accordance with industry standards. 

SECTION 5.6 Material Agreements. 

(a) True, correct and complete (in all material respects) copies of all Material Agreements as in effect on the date of this
Agreement in the possession of the AT&T Contributors and their respective Affiliates have been made available to Acquiror; provided, however, that no such representation is made with respect to amendments, modifications,

  
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supplements, assignments or guarantees to any Material Agreement that are not material to such Material Agreement. 

(b) Each Material Agreement (i) is in full force and effect (except with respect to Material Agreements that expire in
accordance with their terms after the date of this Agreement or are terminated in accordance with their terms and, if terminated by any AT&T Party, in accordance with the terms of this Agreement after the date of this Agreement), (ii) has
been duly authorized, executed and delivered by the AT&T Contributors and (iii) is a legal, valid and binding obligation, enforceable against the AT&T Contributors, subject to the effect of Bankruptcy, insolvency, reorganization,
moratorium or other similar Laws relating to or affecting the rights of creditors generally and to the effect of the application of general principles of equity. 

(c) The AT&T Contributors are in compliance with all Material Agreements, except where such failure would not,
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. No AT&T Contributor nor, to the Knowledge of the AT&T Parties, any other party to a Material Agreement, is, as of the date of this Agreement, in
breach of, or default under, any Material Agreement, except for such breaches, violations or defaults that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(d) No Material Agreement contains any restriction or limitation on the ability of an AT&T Contributor or any Affiliate
thereof to compete with any Person or to engage in any line of business with any Person that shall be binding on Acquiror or its Affiliates from and after the Initial Closing. 

(e) Except as provided in the Collateral Agreements, at the Initial Closing, there shall be no material marketing, management
or other contracts pursuant to which any Person other than the AT&T Parties on behalf of the other AT&T Contributors, the applicable AT&T Newco or the Sale Site Subsidiary has the right to market or lease tower space to any Person at a
Site. 
 (f) Except for the Material Agreements, there is no other contract or agreement, other than any Collateral
Agreement, that is material to the current ownership, operation or leasing of the Sites, other than those that will not be in effect with respect to the Sites following the Initial Closing. 

(g) No AT&T Contributor holds or has the right to obtain, as a security deposit or similar collateral or security under a
Collocation Agreement, any cash, cash equivalents, letters of credit or marketable securities. 
 (h) No Master Collocation
Agreement provides reciprocal rights for an AT&T Contributor or any of its Affiliates to collocate on a wireless communication tower owned or leased by a Tower Subtenant or any of its Affiliates. 

(i) As of the date of this Agreement, none of the AT&T Parties has received any written notice of termination or
non-renewal of any Collocation Agreement in accordance with the terms thereof. 

  
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 SECTION 5.7 Litigation; Orders. As of the date of this
Agreement, there is no action, suit or proceeding pending or, to the Knowledge of the AT&T Parties, threatened in writing against any AT&T Contributor or Affiliate thereof, with respect to any Site by or before any Governmental Authority or
by any Person that would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. As of the date of this Agreement, there is no action, suit or proceeding pending or, to the Knowledge of the AT&T Parties,
threatened in writing against any Sale Site Subsidiary. As of the date of this Agreement, there are no Orders pending or, to the Knowledge of the AT&T Parties, threatened in writing against any AT&T Contributor or any Affiliate thereof with
respect to the Included Property of any of the Sites or otherwise binding on any Included Property of any of the Sites that would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

SECTION 5.8 Environmental Matters. (a) The AT&T Parties have not received any written
notification prior to the date of this Agreement from a Governmental Authority that any Site is not in compliance with applicable Environmental Laws and (b) there have been no releases or disposals of any Hazardous Material, and there are no
other facts, circumstances or conditions, at or affecting any Site, that would reasonably be expected to result in liability for, or require abatement or correction by, the AT&T Parties, the AT&T Newcos, Acquiror, the Tower Operator or the
Sale Site Subsidiaries under applicable Environmental Law, in the case of each of (a) and (b), except as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. To the Knowledge of the
AT&T Parties, the AT&T Contributors have provided to Acquiror copies of all Phase I and Phase II environmental site assessment reports related to the Sites that are in the AT&T Contributors’ possession as of the date of this
Agreement; provided, however, that neither AT&T Contributors nor any of their respective Affiliates makes any representation or warranty as to the scope, accuracy or comprehensiveness (or lack thereof) of such reports. 

SECTION 5.9 Tower Information. 

(a) The information set forth in Section 5.9(a) of the AT&T Disclosure Letter was true and correct in all
material respects as to each Tower as of July 11, 2013. 
 (b) The amounts set forth in Section 5.9(b) of
the AT&T Disclosure Letter were true and correct as of July 11, 2013. 
 SECTION 5.10 Brokers,
Finders, Etc. The AT&T Parties have not employed any broker, finder, investment banker or other intermediary or incurred any liability for any investment banking fees, financial advisory fees, brokerage fees,
finders’ fees or other similar fees for which Acquiror would be responsible in connection with the transactions contemplated by this Agreement or any of the Collateral Agreements. 

SECTION 5.11 Compliance with Laws and Governmental Approvals. 

(a) The AT&T Parties are operating each Site and the related Tower and Improvements on such Site in accordance with all
applicable Laws and Governmental Approvals, except where the failure to so operate, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. The AT&T Parties have not received

  
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any notification that any Site lacks any necessary Governmental Approvals, except where the failure to have such Governmental Approvals would not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect. 
 (b) None of the AT&T Contributors or any Affiliates thereof has received
written notice of any claim, investigation, action, arbitration or proceeding from any Governmental Authority as to the condition, operation or use of any Site that would, individually or in the aggregate, reasonably be expected to result in a
Material Adverse Effect. 
 SECTION 5.12 Taxes. 

(a) Each AT&T Party has duly and timely filed, or shall so file when due, with the appropriate Governmental Authorities
(or there have been or shall be duly and timely filed on its behalf) all U.S. federal and other material Tax Returns with respect to Taxes owing in respect of the Included Property, and all such Tax Returns are true and correct in all material
respects. Except to the extent of any timely filed appeal or protest, all material Taxes with respect to the Included Property that are due and payable prior to the Initial Closing Date have been paid by the AT&T Parties, the AT&T Newcos or
the Sale Site Subsidiaries. 
 (b) Each AT&T Newco and the Sale Site Subsidiaries shall, for all times subsequent to
their formation and through the Initial Closing Date, be treated as a disregarded entity for U.S. federal income Tax purposes and no AT&T Newco nor Sale Site Subsidiary shall elect to be treated as an association taxable as a corporation under
Treasury Regulation § 301.7701-3. 
 SECTION 5.13 Ownership of the AT&T Newcos and Sale Site
Subsidiaries. When the AT&T Newcos and the Sale Site Subsidiaries are formed and at the Initial Closing Date: (a) all of the AT&T Newco Interests and Sale Site Subsidiary Interests shall be duly authorized and validly issued,
and shall be owned, beneficially and of record, by one or more AT&T Parties, (b) the AT&T Parties shall have good and valid title, free and clear of all Liens, to all of the AT&T Newco Interests and Sale Site Subsidiary Interests,
(c) there shall be no outstanding securities or other instruments convertible into or exchangeable for any limited liability company membership interests in any of the AT&T Newcos or the Sale Site Subsidiaries, (d) none of the AT&T
Newcos or the Sale Site Subsidiaries shall be subject to any obligation (contingent or otherwise) to repurchase or otherwise acquire or retire any shares of its capital stock or limited liability company membership interests or any warrants, options
or other rights to acquire its limited liability company membership interests, (e) other than as set forth in the AT&T Newco LLC Agreements and the Sale Site Subsidiary LLC Agreements, there shall be no voting agreements, voting trusts or
other agreements (including contractual or statutory preemptive rights or cumulative voting rights), commitments or understandings with respect to the voting or transfer of the AT&T Newco Interests or the Sale Site Subsidiary Interests and
(f) none of the AT&T Newco Interests and Sale Site Subsidiary Interests shall be issued in contravention of any preemptive rights, rights of first refusal or first offer or similar rights or any applicable Law. 

  
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 SECTION 5.14 Subsidiaries, Investments, No Prior
Activities. 
 (a) When the AT&T Newcos and the Sale Site Subsidiaries are formed and immediately prior to the
Initial Closing, none of the AT&T Newcos or the Sale Site Subsidiaries shall (a) have any Subsidiaries, (b) own any shares of, or control, directly or indirectly, or have any equity interest in (or any right (whether contingent or
otherwise) to acquire the same) any Person, (c) own or hold any Indebtedness or securities issued by or other investments in any Person or (d) have engaged in any activities other than in connection with or incidental to its formation, the
execution and delivery of the applicable Joinder Agreement and the Collateral Agreements to which it is a party, and the consummation of the transactions contemplated hereby and thereby. 

(b) When the AT&T Newcos and the Sale Site Subsidiaries are formed and immediately prior to the transactions contemplated
by Section 2.2, the AT&T Newcos and the Sale Site Subsidiaries shall have no Liabilities other than those incident to their formation. 

SECTION 5.15 Financial Statements. When delivered, the Required Financial Statements shall present
fairly in all material respects the results of operations of the Portfolio Sites (other than any Excluded Sites set forth on the Site List) on a combined consolidated basis for the periods indicated, in conformity with GAAP consistently applied
except as noted in the Required Financial Statements. 
 SECTION 5.16 Solvency. AT&T is not
entering into this Agreement or the Collateral Agreements with the intent to hinder, delay or defraud either present or future creditors of AT&T, the AT&T Parties, the AT&T Newcos or the Sale Site Subsidiaries. Immediately prior to the
Initial Closing, each of the AT&T Newcos and the Sale Site Subsidiaries shall be Solvent. Assuming the satisfaction of the conditions to the obligation of AT&T to consummate the Initial Closing, then, after giving effect to the transactions
contemplated by this Agreement, each of AT&T, the AT&T Contributors, the AT&T Newcos and the Sale Site Subsidiaries shall be Solvent. 

SECTION 5.17 No Implied Representations. NOTWITHSTANDING ANY OTHERWISE EXPRESS REPRESENTATIONS AND
WARRANTIES MADE BY THE AT&T PARTIES IN THIS AGREEMENT, NO AT&T PARTY MAKES ANY REPRESENTATION OR WARRANTY TO ACQUIROR AND THE TOWER OPERATOR WITH RESPECT TO: 

(a) ANY PROJECTIONS, ESTIMATES OR BUDGETS HERETOFORE DELIVERED TO OR MADE AVAILABLE TO ACQUIROR RELATING TO FUTURE REVENUES,
EXPENSES OR EXPENDITURES OR FUTURE RESULTS OF OPERATIONS; 
 (b) EXCEPT AS EXPRESSLY COVERED BY A REPRESENTATION AND
WARRANTY CONTAINED IN THIS ARTICLE 5 OR ANY CERTIFICATE OR COLLATERAL AGREEMENT DELIVERED PURSUANT TO THIS AGREEMENT, ANY OTHER INFORMATION OR DOCUMENTS (FINANCIAL OR OTHERWISE) MADE AVAILABLE TO ACQUIROR OR ITS COUNSEL, ACCOUNTANTS OR
ADVISERS WITH 

  
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RESPECT TO THE AT&T PARTIES OR ANY OF THEIR RESPECTIVE AFFILIATES, THE INCLUDED PROPERTY OF THE SITES OR THE POST-CLOSING LIABILITIES; OR 

(c) ANY MATTERS RELATED TO ZONING LAWS (EXCEPT AS PROVIDED IN SECTION 5.4) OR LAWS (INCLUDING FCC GUIDELINES AND SAFETY
LIMITS RELATED THERETO) RELATED TO EMISSIONS OR EXPOSURE OF RADIO FREQUENCIES, MICROWAVE OR ANY OTHER TYPE OF ELECTROMAGNETIC RADIATION. 

SECTION 5.18 Additional Matters With Respect to Representations and Warranties. For the avoidance of
doubt, no representation, warranty, or covenant is being made hereunder with respect to (a) any site which is an Excluded Site (except with respect to Section 5.9(b) and Section 5.15), (b) any Excluded Assets or
(c) any Tower Subtenant Communications Equipment. 
 ARTICLE 6 

REPRESENTATIONS AND WARRANTIES OF THE AT&T NEWCOS AND THE SALE SITE SUBSIDIARIES 

Except as disclosed in the corresponding sections or subsections of the AT&T Disclosure Letter (it being agreed that,
notwithstanding the foregoing, disclosure of any item in any section of the AT&T Disclosure Letter shall be deemed disclosure of such item with respect to any other section of the AT&T Disclosure Letter to the extent that the relevance of
such item to such other section is reasonably apparent from the face of such disclosure), at the Initial Closing Date (immediately after the transactions contemplated by the AT&T Internal Transfers Agreement have been consummated), each AT&T
Newco and Sale Site Subsidiary represents and warrants, as to itself, to Acquiror and the Tower Operator as follows: 

SECTION 6.1 Organization. Each AT&T Newco and Sale Site Subsidiary is a limited liability
company duly organized, validly existing and in good standing under the laws of the state of Delaware with the requisite limited liability power and authority to carry on its business (including, if applicable, the ownership, lease and operation of
the Included Property of the Sites) as shall be conducted at the Initial Closing, and is duly qualified and in good standing as a foreign entity in each jurisdiction in which the character of the Included Property that shall be owned, leased or
operated by it requires such qualification (or applications for such qualification shall have been filed), except for such qualifications (or filing of applications to qualify) the failure of which to obtain or file would not, individually or in the
aggregate, reasonably be expected to prevent, materially delay or materially impair the ability of such AT&T Newco or Sale Site Subsidiary to consummate the transactions contemplated by this Agreement and the Collateral Agreements to which it is
a party. 
 SECTION 6.2 Authority; Enforceability; No Conflicts. 

(a) Each AT&T Newco and Sale Site Subsidiary has the limited liability company power and authority to execute and deliver
the applicable Joinder Agreement and each Collateral Agreement to which it is a party, to perform its obligations thereunder and to consummate the 

  
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transactions contemplated hereby and thereby. The execution and delivery by each AT&T Newco and Sale Site Subsidiary of the applicable Joinder Agreement and each Collateral Agreement to which
it is a party and the consummation of the transactions contemplated hereby and thereby shall have been duly authorized by all requisite limited liability company action of each AT&T Newco and Sale Site Subsidiary. Each AT&T Newco and Sale
Site Subsidiary has duly executed and delivered the applicable Joinder Agreement and each of the Collateral Agreements to which it is a party (if any). Assuming the due execution and delivery of each such agreement by each party thereto other than
each AT&T Newco and Sale Site Subsidiary, on the Initial Closing Date, the applicable Joinder Agreement and each of the Collateral Agreements to which each AT&T Newco and Sale Site Subsidiary is a party (as amended at such time and as
theretofore amended) shall be the legal, valid and binding obligation of such Person, in each case enforceable against it in accordance with its respective terms subject to the effect of Bankruptcy, insolvency, reorganization, moratorium or other
similar Laws relating to or affecting the rights of creditors generally and to the effect of the application of general principles of equity. 

(b) The execution, delivery and performance by each AT&T Newco and Sale Site Subsidiary of the applicable Joinder
Agreement and each of the Collateral Agreements to which it is a party, and the consummation of the transactions contemplated hereby and thereby on their terms and conditions, shall not result in (i) a breach or violation of, or a conflict
with, any provision of the AT&T Newco Certificate of Formation, the AT&T Newco LLC Agreement, the Sale Site Subsidiary Certificate of Formation, the Sale Site Subsidiary LLC Agreement or other organizational documents of each AT&T Newco
or Sale Site Subsidiary, (ii) a breach or violation of, or a conflict with, any provision of Law or a Governmental Approval (excluding any Governmental Approval from a Governmental Authority in its role as a Ground Lessor under a Ground Lease)
to which such AT&T Newco, Sale Site Subsidiary or the Included Property is subject or (iii) a breach or violation of, or a conflict with, or constitute a default under, or permit the acceleration of any Liability or result in the creation
of any Lien upon any of the properties or assets of any AT&T Newco or Sale Site Subsidiary under any Material Agreement of any AT&T Newco or Sale Site Subsidiary (including any Material Agreement with a Governmental Authority in its role as
a Ground Lessor under a Ground Lease), except, in the case of clauses (ii) and (iii), for any such conflict, breach, violation, default, acceleration or creation that would not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. 
 SECTION 6.3 Title to Properties. 

(a) The applicable AT&T Newco holds good and marketable fee simple title to the Owned Sites Land related to each
Contributable Site that is an Owned Site, and a valid and subsisting leasehold, subleasehold, easement, license, sublicense or similar valid interest in the Ground Leased Sites Land related to each Contributable Site that is a Ground Leased Site, in
each case free and clear of all Liens, except for Permitted Liens. The applicable AT&T Newco owns or has rights in all right, title and interest in, to and under all of the Included Property of each Contributable Site (other than the Land
related to such Site), in each case free and clear of all Liens, except for Permitted Liens. When the AT&T Newcos are formed and immediately prior to the transactions contemplated by Section 2.2, the AT&T Newcos shall have no
Liabilities other than those incident to their formation. 

  
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 (b) The applicable Sale Site Subsidiary holds good and marketable fee simple
title to the Owned Sites Land related to each Assignable Site that is an Owned Site, and a valid and subsisting leasehold, subleasehold, easement, license, sublicense or other similar valid interest in the Ground Leased Sites Land related to each
Assignable Site that is a Ground Leased Site, in each case free and clear of all Liens, except for Permitted Liens. The applicable Sale Site Subsidiary owns or has rights in all right, title and interest in, to and under all of the Included Property
of each Assignable Site (other than the Land related to such Site), in each case free and clear of all Liens, except for Permitted Liens. When the Sale Site Subsidiaries are formed and immediately prior to the transactions contemplated by
Section 2.2, the Sale Site Subsidiaries shall have no Liabilities other than those incident to their formation. 

(c) Upon the execution and delivery of the Management Agreement, the Tower Operator and the applicable Sale Site Subsidiary,
as applicable, shall have the exclusive right to operate and obtain the benefit of the Included Property (other than, to the extent not assignable, leasable, sublicensable or grantable without Authorization, Tower Related Assets) of each Managed
Site. 
 SECTION 6.4 Solvency. The AT&T Newcos and the Sale Site Subsidiaries are not entering
into this Agreement with the intent to hinder, delay or defraud either present or future creditors of any AT&T Newco or Sale Site Subsidiary. Assuming the satisfaction of the conditions to the obligation of AT&T to consummate the Initial
Closing, then, after giving effect to the transactions contemplated by this Agreement, each AT&T Newco and Sale Site Subsidiary shall be Solvent. 

ARTICLE 7 

REPRESENTATIONS AND WARRANTIES OF ACQUIROR 

Except as disclosed in the corresponding sections or subsections of the Acquiror Disclosure Letter (it being agreed that,
notwithstanding the foregoing, disclosure of any item in any section of the Acquiror Disclosure Letter shall be deemed disclosure of such item with respect to any other section of the Acquiror Disclosure Letter to the extent that the relevance of
such item to such other section is reasonably apparent from the face of such disclosure), Acquiror represents and warrants to the AT&T Parties as follows: 

SECTION 7.1 Organization. 

(a) Acquiror is a corporation or other entity duly organized, validly existing and in good standing under the laws of the
state of its organization with the requisite corporate or other power and authority to carry on in all material respects its business as it is now being conducted and is duly qualified and in good standing as a foreign corporation in each
jurisdiction in which the character of its business requires such qualification, except for such qualifications the failure of which to obtain would not, individually or in the aggregate, reasonably be expected to prevent, materially delay or
materially impair the ability of Acquiror to consummate the transactions contemplated by this Agreement and each of the Collateral Agreements to which it is a party (if any). 

  
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 (b) At the Initial Closing, the Tower Operator shall be a limited liability
company duly organized, validly existing and in good standing under the laws of the state of Delaware with the requisite limited liability power and authority to carry on in all material respects its business as shall be conducted at the Initial
Closing, and shall be duly qualified and in good standing as a foreign entity in each jurisdiction in which the character of the Included Property that shall be owned, leased or operated by it requires such qualification (or applications for such
qualification shall have been filed), except for such qualifications (or filing of applications to qualify) the failure of which to obtain or file would not, individually or in the aggregate, reasonably be expected to prevent, materially delay or
materially impair the ability of the Tower Operator to consummate the transactions contemplated by this Agreement and the Collateral Agreements to which it is a party. 

SECTION 7.2 Authority; Enforceability; No Conflicts. 

(a) Acquiror has the requisite corporate power and authority to execute and deliver this Agreement, to perform its obligations
under this Agreement and to consummate the transactions contemplated by this Agreement, and Acquiror has the requisite corporate power and authority to execute and deliver each Collateral Agreement to which it is a party (if any), to perform its
obligations thereunder and to consummate the transactions contemplated thereby. The execution and delivery by Acquiror of this Agreement and the consummation of the transactions contemplated by this Agreement have been, and the execution and
delivery by Acquiror of the Collateral Agreements to which it is a party (if any) and the consummation of the transactions contemplated thereby have been duly authorized by all requisite corporate action of Acquiror. Acquiror (i) has duly
executed and delivered this Agreement, (ii) on the Initial Closing Date shall have duly executed and delivered each of the Collateral Agreements to which it is a party (if any), and (iii) on each Documentary Subsequent Closing Date, shall
have duly executed and delivered the amended schedules and exhibits to the existing, or new, Collateral Agreements to which it is a party (if any), as the case may be. Assuming the due execution and delivery of each such agreement by each party
thereto other than Acquiror, this Agreement is the legal, valid and binding obligation of Acquiror, and on the Initial Closing Date each of the Collateral Agreements to which it is a party, if any (as amended at such time and as theretofore
amended), shall be the legal, valid and binding obligation of such Person, in each case enforceable against it in accordance with its respective terms, subject to the effect of Bankruptcy, insolvency, reorganization, moratorium or other similar Laws
relating to or affecting the rights of creditors generally and to the effect of the application of general principles of equity. 

(b) At the Initial Closing, the Tower Operator shall have the limited liability company power and authority to execute and
deliver the applicable Joinder Agreement and each Collateral Agreement to which it is a party, to perform its obligations thereunder and to consummate the transactions contemplated hereby and thereby. The execution and delivery by the Tower Operator
of the applicable Joinder Agreement and each Collateral Agreement to which it is a party and the consummation of the transactions contemplated hereby and thereby shall have been duly authorized on or prior to the Initial Closing Date by all
requisite limited liability company action of the Tower Operator. At the Initial Closing, the Tower Operator shall have duly executed and delivered the applicable Joinder Agreement and each of the Collateral Agreements to which it is a party.
Assuming the due execution and delivery of each such agreement by each party thereto other than the Tower Operator, on the Initial Closing Date the applicable Joinder 

  
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Agreement and each of the Collateral Agreements to which the Tower Operator is a party (as amended at such time and as theretofore amended) shall be the legal, valid and binding obligation of
such Person, in each case enforceable against it in accordance with its respective terms subject to the effect of Bankruptcy, insolvency, reorganization, moratorium or other similar Laws relating to or affecting the rights of creditors generally and
to the effect of the application of general principles of equity. 
 (c) The execution, delivery and performance by Acquiror
of this Agreement and each of the Collateral Agreements to which it is a party (if any), and the consummation of the transactions contemplated hereby and thereby on their terms and conditions, do not and shall not result in (i) a breach or
violation of, or a conflict with, any provision of the certificate of incorporation, bylaws or other organizational documents of Acquiror or (ii) a breach or violation of, or a conflict with, any provision of Law or a Governmental Approval
applicable to Acquiror or (iii) a breach or violation of, or a conflict with, or constitute a default under, or permit the acceleration of any Liability or result in the creation of any Lien upon any of the properties or assets of Acquiror
under, any contract or agreement binding on Acquiror, except, in the case of clauses (ii) and (iii), for any such conflict, breach, violation, default, acceleration or creation that would not, individually or in the aggregate, reasonably be
expected to prevent, materially delay or materially impair the ability of Acquiror to consummate the transactions contemplated by this Agreement and the Collateral Agreements to which it is a party (if any). 

(d) At the Initial Closing, the execution, delivery and performance by the Tower Operator of the applicable Joinder Agreement
and each of the Collateral Agreements to which it is a party, and the consummation of the transactions contemplated hereby and thereby on their terms and conditions, shall not result in (i) a breach or violation of, or a conflict with, any
provision of the certificate of formation, limited liability company agreement or other organizational documents of the Tower Operator or (ii) a breach or violation of, or a conflict with, any provision of Law or a Governmental Approval
applicable to Tower Operator or (iii) a breach or violation of, or a conflict with, or constitute a default under, or permit the acceleration of any Liability or result in the creation of any Lien upon any of the properties or assets of the
Tower Operator under, any contract or agreement binding on the Tower Operator, except, in the case of clauses (ii) and (iii), for any such conflict, breach, violation, default, acceleration or creation that would not, individually or in the
aggregate, reasonably be expected to prevent, materially delay or materially impair the ability of the Tower Operator to consummate the transactions contemplated by this Agreement and the Collateral Agreements to which it is a party. 

SECTION 7.3 Governmental Approvals, Consents, Reports, Etc. Section 7.3 of
the Acquiror Disclosure Letter contains a list of all Governmental Approvals and other filings, applications or notices required to be made, filed, given or obtained by Acquiror or any of its Affiliates with, to or from any Governmental Authorities
or other Persons in connection with the consummation of the transactions contemplated by this Agreement, except (a) those that become applicable solely as a result of the specific regulatory status of the AT&T Parties or (b) those
approvals, filings, applications and notices the failure to make, file, give or obtain would not, individually or in the aggregate, reasonably be expected to prevent, materially delay or materially impair the ability of Acquiror and the Tower
Operator to consummate the transactions contemplated by this Agreement and the Collateral Agreements to which it is or they are a party. 

  
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 SECTION 7.4 Litigation; Orders. As of the date of this
Agreement, there is no action, suit or proceeding pending or, to the Knowledge of Acquiror, threatened in writing against Acquiror or its Subsidiaries that, individually or in the aggregate, would reasonably be expected to prevent, materially delay
or materially impair the ability of Acquiror or the Tower Operator to consummate the transactions contemplated by this Agreement and the Collateral Agreements to which it is a party (if any). 

SECTION 7.5 SEC Reports. Acquiror has filed all material forms, reports and documents, together with
any required amendments thereto, required to be filed by it with the SEC since December 31, 2011 (collectively, the “SEC Documents”). The SEC Documents (i) were prepared, in all material respects, in accordance with
the requirements of the Securities Act, or the Exchange Act, as the case may be, and the rules and regulations promulgated thereunder and (ii) did not at the time they were filed contain any untrue statement of a material fact or omit to state
a material fact required to be stated in such SEC Documents or necessary in order to make the statements made in such SEC Documents, in the light of the circumstances under which they were made, not misleading. 

SECTION 7.6 Brokers, Finders, Etc. Acquiror has not employed any broker, finder, investment banker
or other intermediary or incurred any liability for any investment banking fees, financial advisory fees, brokerage fees, finders’ fees or other similar fees for which the AT&T Parties or their respective Affiliates would be responsible in
connection with the transactions contemplated by this Agreement or any of the Collateral Agreements. 
 SECTION 7.7
Financial Capability. (a) Acquiror has, as of the date of this Agreement, and shall have on the Initial Closing Date, access to sufficient funds to enable Acquiror and the Tower Operator to consummate the transactions
contemplated hereby, including payment of the Consideration and fees and expenses of Acquiror relating to the transactions contemplated hereby. 

(b) Acquiror has delivered to AT&T true, complete and correct copies of the executed commitment letter, dated as of
October 18, 2013, by and among Morgan Stanley Senior Funding, Inc., Bank of America, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated, JPMorgan Chase Bank, N.A., J.P. Morgan Securities LLC, Barclays Bank PLC and the other
lenders named therein and Acquiror (the “Debt Financing Commitment”), pursuant to which, upon the terms and subject to the conditions set forth therein, the lenders party thereto have agreed to lend the amounts set forth
therein (the “Debt Financing”). The Debt Financing Commitment has not been amended or modified, and the commitments contained in the Debt Financing Commitment have not been withdrawn or rescinded in any respect or terminated
other than in accordance with the terms thereof and as permitted herein. Except for the fee letter relating to the Debt Financing Commitments (redacted copies of which have been provided to AT&T), there are no other agreements, side letters or
arrangements to which Acquiror or any of its Affiliates is a party relating to the Debt Financing Commitment that contain provisions (other than provisions expressly set forth in the Debt Financing Commitment) that could affect the availability of
the Debt Financing. Except as otherwise permitted to be terminated by the terms of this Agreement, the Debt Financing Commitment is in full force and effect and constitutes the legally valid and binding obligations of Acquiror and, to the Knowledge
of Acquiror, the other parties thereto. There are no conditions precedent or other contingencies related to the funding 

  
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of the full amount of the Debt Financing (including any “flex” provisions), other than as expressly set forth in the Debt Financing Commitment. No event has occurred which would result
in any breach or violation of or constitute a default (or an event which with notice or lapse of time or both would become a default) by Acquiror under the Debt Financing Commitment, and Acquiror does not have any reason to believe that any of the
conditions to the Debt Financing will not be satisfied or that the Debt Financing will not be available to Acquiror on the Initial Closing Date. Acquiror has fully paid all commitment fees or other fees required to be paid on or prior to the date of
this Agreement pursuant to the Debt Financing Commitment or any related fee letter. 
 SECTION 7.8
Registration Statement; Capitalization. 
 (a) An “automatic shelf registration statement” as
defined under Rule 405 under the Securities Act, on Form S-3 (the “Registration Statement”), with respect to unspecified number of, among other securities, Acquiror’s common stock, including a form of prospectus, was
filed by Acquiror with the SEC on April 3, 2012; the Registration Statement has become effective; and no stop order suspending the effectiveness of the Registration Statement is in effect and no proceeding for such purpose is pending before or,
to the Knowledge of Acquiror, threatened by the SEC, and no notice of objection of the SEC to the use of the Registration Statement pursuant to Rule 401(g)(2) under the Securities Act has been received by Acquiror. 

(b) Acquiror was not, at the time of filing the Registration Statement, and Acquiror is not, an “ineligible issuer”
as defined in Rule 405 under the Securities Act. 
 (c) The authorized capital stock of Acquiror consists of 600,000,000
shares of common stock, par value $.01 per share (“Common Stock”), and 20,000,000 shares of preferred stock, par value $.01 per share (“Preferred Stock”). As of the date of this Agreement, no more than
300,000,000 shares of Common Stock were issued and outstanding, no shares of Preferred Stock were issued and outstanding and no more than 13,000,000 shares of Common Stock were reserved for issuance under Acquiror’s various stock compensation
plans. 
 SECTION 7.9 Ownership of the Tower Operator. At the time the Tower Operator is formed
and at the Initial Closing Date: (a) all of the Tower Operator Interests shall be duly authorized and validly issued and shall be owned, beneficially and of record, by Acquiror or a Subsidiary thereof, (b) Acquiror or a Subsidiary thereof
shall have good and valid title, free and clear of all Liens, to all of the Tower Operator Interests, (c) there shall be no outstanding securities or other instruments convertible into or exchangeable for any limited liability company
membership interests in the Tower Operator, (d) the Tower Operator shall not be subject to any obligation (contingent or otherwise) to repurchase or otherwise acquire or retire any shares of its capital stock or limited liability company
membership interests or any warrants, options or other rights to acquire its limited liability company membership interests, (e) other than as set forth in the organizational documents of the Tower Operator, there shall be no voting agreements,
voting trusts or other agreements (including contractual or statutory preemptive rights or cumulative voting rights), commitments or understandings with respect to the voting or transfer of the Tower Operator Interests and (f) none of the Tower
Operator Interests shall be issued in contravention of any preemptive rights, rights of first refusal or first offer or similar rights or any applicable Law. 

  
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 SECTION 7.10 Subsidiaries, Investments, No Prior
Activities. 
 (a) At the time the Tower Operator is formed and at the Initial Closing Date, it shall not
(a) have any Subsidiaries, (b) own any shares of, or control, directly or indirectly, or have any equity interest in (or any right (whether contingent or otherwise) to acquire the same) any Person, (c) own or hold any Indebtedness or
securities issued by or other investments in any Person or (d) have engaged in any activities other than in connection with or incidental to its formation, the execution and delivery of any applicable Joinder Agreement and the Collateral
Agreements to which it is a party, and the consummation of the transactions contemplated hereby and thereby. 
 (b) When the
Tower Operator is formed and immediately prior to the transactions contemplated by Section 2.2, the Tower Operator shall have no Liabilities other than those incident to its formation. 

SECTION 7.11 Solvency. Acquiror is not entering into this Agreement with the intent to hinder, delay
or defraud either present or future creditors of Acquiror or the Tower Operator. Assuming the satisfaction of the conditions to the obligation of Acquiror to consummate the Initial Closing, then, after giving effect to the Initial Closing, each of
Acquiror and the Tower Operator will be Solvent immediately following the consummation of the Initial Closing. 
 ARTICLE 8 

REPRESENTATIONS AND WARRANTIES OF THE TOWER OPERATOR 

Except as disclosed in the corresponding sections or subsections of the Acquiror Disclosure Letter (it being agreed that,
notwithstanding the foregoing, disclosure of any item in any section of the Acquiror Disclosure Letter shall be deemed disclosure of such item with respect to any other section of the Acquiror Disclosure Letter to the extent that the relevance of
such item to such other section is reasonably apparent from the face of such disclosure), at the Initial Closing Date, the Tower Operator represents and warrants to the AT&T Parties and the AT&T Newcos as follows: 

SECTION 8.1 Organization. The Tower Operator is a limited liability company duly organized, validly
existing and in good standing under the laws of the state of Delaware with the requisite limited liability power and authority to carry on its business as shall be conducted at the Initial Closing, and is duly qualified and in good standing as a
foreign entity in each jurisdiction in which the character of the Included Property that shall be owned, leased or operated by it requires such qualification (or applications for such qualification shall have been filed), except for such
qualifications (or filing of applications to qualify) the failure of which to obtain or file would not, individually or in the aggregate, reasonably be expected to prevent, materially delay or materially impair the ability of the Tower Operator to
consummate the transactions contemplated by this Agreement and the Collateral Agreements to which it is a party. 

  
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 SECTION 8.2 Authority; Enforceability. The Tower
Operator has the limited liability company power and authority to execute and deliver the applicable Joinder Agreement and each Collateral Agreement to which it is a party, to perform its obligations thereunder and to consummate the transactions
contemplated hereby and thereby. The execution and delivery by the Tower Operator of the applicable Joinder Agreement and each Collateral Agreement to which it is a party and the consummation of the transactions contemplated hereby and thereby have
been duly authorized by all requisite limited liability company action of the Tower Operator. The Tower Operator has duly executed and delivered the applicable Joinder Agreement and each of the Collateral Agreements to which it is a party. Assuming
the due execution and delivery of each such agreement by each party thereto other than the Tower Operator, on the Initial Closing Date the applicable Joinder Agreement and each of the Collateral Agreements to which the Tower Operator is a party (as
amended at such time and as theretofore amended) shall be the legal, valid and binding obligation of such Person, in each case enforceable against it in accordance with its respective terms subject to the effect of Bankruptcy, insolvency,
reorganization, moratorium or other similar Laws relating to or affecting the rights of creditors generally and to the effect of the application of general principles of equity. 

SECTION 8.3 No Conflicts. The execution, delivery and performance by the Tower Operator of the
applicable Joinder Agreement and each of the Collateral Agreements to which it is a party, and the consummation of the transactions contemplated hereby and thereby on their terms and conditions, shall not result in (i) a breach or violation of,
or a conflict with, any provision of the certificate of formation, limited liability company agreement or other organizational documents of the Tower Operator, (ii) a breach or violation of, or a conflict with, any provision of Law or a
Governmental Approval applicable to the Tower Operator or (iii) a breach or violation of, or a conflict with, or constitute a default under, or permit the acceleration of any Liability or result in the creation of any Lien upon any of the
properties or assets of Tower Operator under, any contract or agreement binding on the Tower Operator, except, in the case of clauses (ii) and (iii), for any such conflict, breach, violation, default, acceleration or creation that would not,
individually or in the aggregate, reasonably be expected to prevent, materially delay or materially impair the ability of the Tower Operator to consummate the transactions contemplated by this Agreement and the Collateral Agreements to which it is a
party. 
 SECTION 8.4 Solvency. The Tower Operator is not entering into this Agreement with the
intent to hinder, delay or defraud either present or future creditors of the Tower Operator. Based on the information available to the Tower Operator, assuming the satisfaction of the conditions to the obligation of Acquiror to consummate the
Initial Closing, then, after giving effect to the Initial Closing, the Tower Operator will be Solvent immediately following the consummation of the Initial Closing. 

ARTICLE 9 
 COVENANTS

 SECTION 9.1 Investigation of Sites; Access to Properties and Records. 

(a) Prior to the Initial Closing, but subject to (i) contractual and legal restrictions applicable to the AT&T
Parties and (ii) applicable Law (including Laws relating to the exchange 

  
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of information), AT&T and the AT&T Contributors shall, upon reasonable advance notice from Acquiror to AT&T, make their personnel reasonably available to Representatives of Acquiror
and afford to such Representatives reasonable access during normal business hours to the Sites and their properties and Books and Records that, to the Knowledge of the AT&T Parties, are available or reasonably can be made available (it
being understood that the foregoing shall in no event require AT&T or its Affiliates to create any Books and Records). In no event shall Acquiror take or permit any action in its investigation of any Site, including the accessing
of Books and Records, which impairs or otherwise interferes with the use of any Site or operations being conducted at a Site. All requests for access shall be made to a representative of the AT&T Contributors as designated by the AT&T
Contributors from time to time, who shall be responsible for coordinating all such requests and all access permitted under this Agreement and who may arrange for personnel to accompany Acquiror on any actual inspections. Acquiror shall indemnify the
AT&T Contributors and their respective Affiliates for any claims, losses or causes of action as a result of physical or tangible damages caused by any action by Acquiror and its Representatives in connection with such access or Acquiror’s
and its Representatives’ other due diligence activities occurring prior to the Initial Closing Date; provided, however, that Acquiror shall not indemnify the AT&T Contributors or their respective Affiliates for any claim, loss
or cause of action caused by (A) the gross negligence or willful misconduct of any AT&T Contributor or such Affiliate or (B) any physical condition existing on any Site prior to Acquiror’s or its Representative’s entry
thereon (except for any incremental damage or exacerbation of any existing condition caused by Acquiror or its Representatives with respect to any such physical condition). Prior to conducting any physical inspection at any Sites, Acquiror shall
obtain, and during the period of such inspection shall maintain, at its expense, commercial general liability insurance, on an “occurrence” basis, including a contractual liability endorsement, and personal injury liability coverage, with
AT&T Contributors and their respective Affiliates as additional insureds, from an insurer reasonably acceptable to AT&T Contributors, which insurance policies must have limits of not less than $1,000,000 (combined single limit) for each
occurrence for bodily injury, death and property damage. Prior to making any entry upon any Site, Acquiror shall furnish to AT&T Contributors certificates of insurance evidencing the foregoing coverages. 

(b) Without limiting the generality of Section 9.1(a), the AT&T Parties shall use commercially reasonable
efforts to cooperate with Acquiror and use commercially reasonable efforts to provide to Acquiror and its Affiliates, from time to time, upon reasonable advance notice from Acquiror, (i) reasonable access to relevant financial and other
information pertaining to the Sites prior to the Initial Closing Date, which information is in any AT&T Party’s possession and reasonably necessary, in the reasonable opinion of Acquiror or its Affiliates’ outside, third party
accountants (“Accountants”), to prepare financial statements required in order for Acquiror to comply with (A) the requirements of Rule 3-14 of SEC Regulation S-X promulgated under the Securities Act (or, after the
Initial Closing Date, if required by the SEC, (x) Rule 3-05 of SEC Regulation S-X promulgated under the Securities Act and (y) any other applicable rule issued by the SEC and applicable to Acquiror or its Affiliates), and (B) any
registration statement, report or disclosure statement filed with the SEC by or on behalf of Acquiror or its applicable Subsidiaries, and (ii) if required by the Accountants (or the accountants of the AT&T Parties) in order to render any
opinion or to issue any report concerning the financial statements of the AT&T Parties or the Sites for any date or period as of or prior to the Initial Closing Date, provide to the Accountants (and the accountants of the AT&T

  
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Parties, if applicable) a representation letter, in reasonable and satisfactory form to AT&T under generally accepted auditing standards promulgated by the Auditing Standards Division of the
American Institute of Certified Public Accountants, executed by the appropriate individual(s). The AT&T Parties shall, upon the reasonable request of Acquiror, provide commercially reasonable assistance in order to assist Acquiror or its
Affiliates in (i) preparing any financial information relating to the Sites for filing or furnishing with the SEC or (ii) responding to any requests for information from the SEC with respect to the Sites, in each case with respect to
periods prior to the Initial Closing. In addition to the foregoing, the AT&T Parties and the AT&T Newcos shall, and shall use commercially reasonable efforts to cause their Representatives to, reasonably cooperate with and assist Acquiror
with any financing related to the transactions contemplated by this Agreement and the Collateral Agreements to be consummated by Acquiror or its Affiliates prior to or concurrently with the Initial Closing, including using commercially reasonable
efforts to provide Acquiror with other relevant information pertaining to the Sites (which are in their possession and control) as Acquiror may reasonably request; provided, that, except with respect to the Required Financial Statements and
subsequent stub period updates thereof as provided in Section 9.13, (x) Acquiror shall bear the cost of or shall reimburse AT&T for any documented out-of-pocket costs or expenses related to AT&T’s cooperation or
assistance under this Section 9.1(b) and (y) none of AT&T or its Affiliates (in the case of the Sale Site Subsidiaries, prior to the Initial Closing) or its Representatives shall be required to (I) pay any commitment or
other similar fee, enter into any definitive agreement or other documentation or incur any other liabilities in connection with the foregoing or (II) participate in meetings, drafting sessions, presentations, road shows and due diligence and
other sessions with any financing sources, investors or rating agencies. Notwithstanding anything to the contrary contained in this Section 9.1(b), in no event shall AT&T or its Affiliates be required to pay for the preparation and
delivery of any financial information other than as described in Section 9.13. 
 (c) Acquiror or its Affiliates
shall (i) hold all of the Books and Records received from the AT&T Newcos or their Affiliates relating to the Sites and not destroy or dispose of any such Books and Records for a period of three years from the Initial Closing Date, and
thereafter, if it desires to destroy or dispose of the non-privileged Books and Records, to offer first in writing, at least 30 days prior to such destruction or disposition, to surrender them to the AT&T Newcos and (ii) afford the
AT&T Newcos, their advisors, accountants and legal counsel, during normal business hours, upon reasonable request, reasonable access to such non-privileged Books and Records and, if required in connection with the foregoing, to the employees of
Acquiror or its Affiliates, in each case to the extent that such access may be requested for any legitimate purpose, unless such non-privileged Books and Records have been disposed of in accordance with this Section 9.1(c). 

(d) On or prior to the Initial Closing Date, and subject to Laws relating to the exchange of information, the AT&T
Parties, the AT&T Newcos and the Sale Site Subsidiaries (individually and jointly, as applicable) shall use their commercially reasonable efforts to deliver, or cause to be delivered, to Acquiror and the Tower Operator, as applicable,
(i) all keys and other security access codes or devices providing entry to the Towers located at the Sites (other than AT&T Improvements); (ii) to the extent not available in AT&T’s online data room or on the FAA’s
website, a copy of the determination of “No Hazard” to air navigation from the FAA for each Tower with respect to which such determination was issued, if such determinations are in 

  
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the possession of the AT&T Parties, the AT&T Newcos or the Sale Site Subsidiaries; and (iii) to the extent not available in AT&T’s online data room or on the FCC’s
website, a copy of the currently existing FCC Form 854R for each Tower with respect to which such form is required, if such forms were created and are in the possession of the AT&T Parties, the AT&T Newcos or the Sale Site Subsidiaries. In
addition, as promptly as reasonably practicable following the applicable written request therefor by Acquiror, and subject to Laws relating to the exchange of information, the AT&T Parties, the AT&T Newcos and the Sale Site Subsidiaries
(individually and jointly, as applicable) shall, prior to the Initial Closing Date, use their commercially reasonable efforts to (A) make available to Acquiror and the Tower Operator the Pre-Integration Records reasonably requested by Acquiror
that are in the possession of the AT&T Parties and cooperate with Acquiror and the Tower Operator in connection with the Data Integration Process described on Schedule 6 and (B) make available to Acquiror and the Tower Operator all
master site inspection agreements, master site maintenance agreements, light monitoring agreements and lease optimization agreements to the extent exclusively relating to the Sites or the operation of the Sites or, to the extent not so exclusively
related, reasonable extracts thereof. 
 (e) As promptly as reasonably practicable after the Initial Closing Date, the
AT&T Parties shall (i) use their commercially reasonable efforts to ensure that Acquiror or the Tower Operator, as applicable, is afforded access to the Towers promptly following the Initial Closing substantially equivalent to the access
afforded to the AT&T Parties immediately prior to the Initial Closing and (ii) deliver or constructively deliver to the Tower Operator and the Sale Site Subsidiaries, as applicable, the Books and Records included in the definition of Tower
Related Assets that have not previously been made available to Acquiror. 
 SECTION 9.2 Efforts to Close;
Cooperation. 
 (a) Subject to the provisions of this Agreement, from the date of this Agreement until the Initial
Closing, the AT&T Parties and Acquiror each shall use their commercially reasonable efforts to (i) take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable to consummate and make
effective as promptly as practicable the transactions contemplated by this Agreement and the Collateral Agreements, and to cooperate with the other in connection with the foregoing and (ii) refrain from taking, or cause to be refrained from
taking, any action and to refrain from doing or causing to be done, anything which would reasonably be expected to impede or impair the prompt consummation of the transactions contemplated by this Agreement, including using their commercially
reasonable efforts to (A) obtain all necessary waivers, consents, releases and approvals that are required for the consummation of the transactions contemplated by this Agreement, (B) obtain all consents, approvals and authorizations that
are required by this Agreement or any Collateral Agreement to be obtained under any Law, (C) lift or rescind any Order adversely affecting the ability of the Parties to consummate the transactions contemplated by this Agreement and the
Collateral Agreements, (D) effect all necessary registrations and filings, including filings and submissions of information requested or required by any Governmental Authority, and (E) fulfill all conditions to the other Parties’
obligation to consummate this Agreement. With respect to any threatened or pending preliminary or permanent injunction or other Order or Law that would adversely affect the ability of the Parties to promptly consummate the transactions contemplated
by this Agreement and the Collateral Agreements, the Parties shall use their commercially reasonable efforts to prevent the entry, enactment or promulgation thereof, or to seek the 

  
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removal, vacatur or nullification thereof, as the case may be. In no event, however, shall the AT&T Parties or any of their respective Affiliates be obligated to divest or hold separate any
business or assets in connection with the consummation of the transactions contemplated by this Agreement or any Collateral Agreement, agree to any condition, restriction or limitation with respect to any AT&T Party or its respective Affiliates
or any of their respective assets or operations, exclude any Portfolio Site from the transactions contemplated by this Agreement and the Collateral Agreements or, except as otherwise expressly provided in this Agreement or any Collateral Agreement
(including with respect to any Transaction Revenue Sharing Payments), pay any money to any Person or to offer or grant other financial or other accommodations to any Person in connection with their obligations under this Section 9.2 (any
such obligation, agreement offer or grant, being a “Regulatory Condition”). Notwithstanding anything to the contrary in this Section 9.2 or otherwise, nothing in this Agreement or any Collateral Agreement shall
prevent or restrict the AT&T Contributors or any of their respective Affiliates in any manner from engaging in any merger, acquisition or business combination transaction or any sale, disposition or transfer of any assets (other than a sale,
disposition or transfer of any Included Property or any related Collocation Agreements to any Person other than Acquiror) or any other corporate transaction. 

(b) Without limiting the generality or effect of the foregoing, in the event that a Party determines in good faith that any
filing or other documentation is required by applicable Law in connection with this Agreement or the consummation of the transactions contemplated hereby, the Parties shall cooperate to make such filings and use commercially reasonable efforts to
provide such other documentation such that the transactions contemplated hereby can be consummated as promptly as possible after the date of this Agreement. 

SECTION 9.3 Further Assurances. From time to time, whether before, at or after the applicable
Closing Date, each of the AT&T Parties, the AT&T Newcos and the Sale Site Subsidiaries and Acquiror and the Tower Operator shall execute and deliver such further instruments of conveyance and assignment and take such other reasonable actions
as may be necessary, proper or advisable to carry out the purposes and intent of this Agreement and the transactions contemplated by this Agreement and the Collateral Agreements. The AT&T Parties, the AT&T Newcos and the Sale Site
Subsidiaries shall use commercially reasonable efforts to furnish and provide to Acquiror and the Tower Operator, upon the request of Acquiror, such Books and Records in their possession (including ground lessor reimbursement or similar requests) as
may be necessary in connection with the prosecution or defense by Acquiror or the Tower Operator of any litigation or other proceeding relating to the Included Property of the Sites, the related Collocation Agreements, the Post-Closing Liabilities,
or the Sale Sites; provided, however, that the AT&T Parties, the AT&T Newcos and the Sale Site Subsidiaries shall not be required to deliver to Acquiror or the Tower Operator any privileged document, unless the Parties enter
into a joint defense or similar agreement; provided further that, notwithstanding anything to the contrary contained in this Section 9.3, if any of the Parties are in an adversarial relationship to any other Party in any
litigation or proceeding, the furnishing of Books and Records between such Parties in accordance with this Section 9.3 shall be subject to applicable rules relating to discovery. 

  
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 SECTION 9.4 Conduct of Collocation Operations and the
Sites. 
 (a) From the date of this Agreement until the Initial Closing Date, except as expressly permitted by this
Agreement or set forth in Section 9.4(a) of the AT&T Disclosure Letter, the AT&T Parties, the AT&T Newcos and the Sale Site Subsidiaries and their respective Affiliates shall operate, manage, maintain and repair the
Collocation Operations and the Sites (including the Included Property and any actions or activities relating to Ground Leases) in compliance with all applicable Laws in all material respects, in accordance with industry standards for wireless
communication tower sites (it being understood that, for the purposes of this Section 9.4(a), adherence to the requirements of AT&T’s FCC/FAA compliance program shall not be deemed to be inconsistent with industry standards for
wireless communication tower sites) and in the ordinary course of business consistent in all material respects with past practice. 

(b) From the date of this Agreement until the Initial Closing Date with respect to each Site, except as contemplated by this
Agreement or set forth in Section 9.4(b) of the AT&T Disclosure Letter, the AT&T Parties, the AT&T Newcos and the Sale Site Subsidiaries and their respective Affiliates shall not, without the consent of Acquiror: 

(i) sell, dispose of, transfer, lease, license or encumber any of their interests in any of the Sites
(including the Included Property), other than Permitted Liens and replacements of worn, outmoded or defective equipment, in each case, in the ordinary course of business consistent in all material respects with past practice; 

(ii) manage, operate or maintain any Site in a manner that would diminish its expected residual value in any
material respect or shorten its expected remaining economic life in any material respect; 
 (iii) enter
into, modify, accelerate, amend, terminate, cancel or grant any waiver or release under any Material Agreement except on commercially reasonable and prevailing market terms and in the ordinary course of business consistent in all material respects
with past practice; 
 (iv) renew any Material Agreement except in the ordinary course of business and
consistent with past practice; 
 (v) accelerate or delay collection of accounts receivable or payment of any
accounts payable in advance of or beyond their regular due dates or the dates when the same would have been collected or paid, as applicable, except in the ordinary course of business consistent with past practice; or 

(vi) authorize, commit to, resolve or agree, whether in writing or otherwise, to take any of the actions set
forth in this Section 9.4(b) and not otherwise permitted by such Section or this Agreement or the Collateral Agreements. 

(c) Notwithstanding this Section 9.4, nothing in this Agreement or any Collateral Agreement shall be construed or
interpreted to restrict the AT&T Parties in their sole discretion from (i) engaging in any activity not related to the Sites, (ii) taking any action with respect to any Sites expressly contemplated under Article 4, including
designating a Site as an Excluded Site, 

  
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subject to the limitations contained in Article 4 of this Agreement and the other terms of this Agreement, or (iii) removing Excluded Assets from, or modifying Excluded Assets located
at, the Sites in a manner that does not adversely impact or affect any Site in any material respect. 
 (d) Prior to the
Initial Closing, the AT&T Parties, the AT&T Newcos and the Sale Site Subsidiaries and their respective Affiliates shall cancel and terminate any and all services provided by third parties pursuant to which such third parties negotiate or
otherwise assist in any way with, on behalf of or in the name thereof, any modification, acceleration, amendment, renewal, termination, cancelation, waiver or release to, of or under any Ground Lease or Collocation Agreement. 

(e) As promptly as reasonably practicable following each applicable Closing Date, the AT&T Parties and the AT&T Newcos
shall, with respect to each Assignable Site, Contributable Site, Pre-Lease Site and Lease Site registered with the FCC pursuant to 47 C.F.R. §17.4, change the ownership name of such Site on the FCC antenna structure registry to the
applicable AT&T Newco or, at the Initial Closing Date, the applicable Sale Site Subsidiary. As promptly as reasonably practicable following each applicable Closing Date, the Parties shall, with respect to each Assignable Site, Contributable
Site, Pre-Lease Site and Lease Site registered with the FCC pursuant to 47 C.F.R. § 17.4, reasonably cooperate to cause the ownership name of such Site on the FCC antenna structure registry to be changed to the Tower Operator or the
applicable Sale Site Subsidiary. 
 (f) The AT&T Parties shall, at their sole cost and expense, discharge all Liens on
the Included Property of the Sites securing Indebtedness of AT&T or its Affiliates. 
 SECTION 9.5
Public Announcements. The initial press release of AT&T announcing this Agreement, any Collateral Agreement and the transactions contemplated hereby and thereby shall be in substantially the form attached to this Agreement as
Exhibit N-1. The initial press release of Acquiror announcing this Agreement, any Collateral Agreement and the transactions contemplated hereby and thereby shall be in substantially the form attached to this Agreement as
Exhibit N-2. Except as otherwise agreed to by the Parties, the Parties shall not (and shall cause their Affiliates not to) publish any report, statement or press release or otherwise make any public statements with respect to this
Agreement, any Collateral Agreement or the transactions contemplated hereby or thereby, except as advised by outside legal counsel of a Party which may be required by Law or by the rules of a national securities exchange, and in any event a Party
shall, to the extent practicable, consult with the other Party a reasonable time in advance of such required disclosure, including furnishing (to the extent practicable) a draft thereof to the other Parties in advance of publication or release and
considering in good faith any comments of such other Parties. 
 SECTION 9.6 Corporate Names. 

(a) Acquiror acknowledges and agrees that the AT&T Parties and their respective Affiliates have the absolute and exclusive
proprietary rights, by ownership or license, to use all Names incorporating “AT&T” by itself or in combination with any other Name and the corporate design logo associated with “AT&T” and its color scheme, and that none
of the rights thereto or goodwill represented thereby or pertaining thereto are being Leased, or otherwise assigned or 

  
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transferred, hereby or in connection herewith. Acquiror shall not, nor shall it permit any of its Affiliates to, use any name, phrase or logo incorporating “AT&T” or such corporate
design logo or its color scheme in or on any of its literature, sales materials, agreements or products or otherwise in connection with the sale of any products or services or in the operation of the Sites. 

(b) The AT&T Parties acknowledge and agree that Acquiror and its Affiliates have the absolute and exclusive proprietary
rights, by ownership or license, to use all Names incorporating “Crown Castle” by itself or in combination with any other Name, including the corporate design logo associated with “Crown Castle” and its color scheme, and that
none of the rights thereto or goodwill represented thereby or pertaining thereto are being Leased, or otherwise assigned or transferred, hereby or in connection herewith. The AT&T Parties shall not, nor shall they permit any of their Affiliates,
including the AT&T Newcos, to, use any Name, phrase or logo incorporating “Crown Castle” or such corporate design logo or its color scheme in or on any of its literature, sales materials, agreements or products or otherwise in
connection with the sale of any products or services or in the operation of the Sites. 
 SECTION 9.7
Actions by Acquiror and AT&T Parties’ Subsidiaries. Acquiror and each of the AT&T Parties shall ensure that each of their respective Subsidiaries (if any) takes all actions necessary to be taken by such Subsidiary in
order to fulfill their respective obligations under this Agreement and the Collateral Agreements. 
 SECTION 9.8
Title Insurance Commitments. The Tower Operator or any Sale Site Subsidiary, at its sole cost and expense, may purchase upon the occurrence of the Initial Closing or any subsequent Closing, as applicable, fee title, leasehold or
leasehold lender’s title insurance policies (the “Title Policies”), but the AT&T Contributors shall not be required to execute any affidavits, indemnities or other documentation in connection therewith. Obtaining
Title Policies for any of the Sites shall not be a condition to the occurrence of the applicable Closing. The Tower Operator and the Sale Site Subsidiaries shall instruct any Title Company that is preparing title reports or commitments for the Tower
Operator to deliver copies thereof to the AT&T Contributors at the same time it delivers such reports or commitments to the Tower Operator and the Sale Site Subsidiaries. 

SECTION 9.9 AT&T and its Affiliates’ Rights. 

Notwithstanding any other provision in this Agreement or any Collateral Agreement, the Parties acknowledge and agree that,
except with respect to the Sites, nothing in this Agreement or any Collateral Agreement is intended to create any prohibition or restriction on AT&T’s or its Affiliates’ ability to construct, lease or otherwise obtain the right to use
(and lease tower space to third parties on) wireless communications tower sites, including any Excluded Sites. 

SECTION 9.10 Transaction Revenue Sharing Payments. 

(a) In the event any claim, action, suit or other proceeding by any Ground Lessor or other Person is threatened or commenced
which claims that Transaction Revenue Sharing Payments are owed as a result of the payment contemplated by Section 2.2(c) and Section 3.2, each Party agrees to promptly notify the other Parties and agrees to reasonably
cooperate and use commercially reasonable efforts to jointly negotiate with such Ground Lessor or other Person to 

  
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amend the applicable Ground Lease to minimize the amount of Transaction Revenue Sharing Payments under such Ground Lease payable as a result of, or otherwise triggered by, the payment
contemplated by Section 2.2(c) and Section 3.2. If such an amendment is not effectuated, the Parties shall discuss in good faith whether it is commercially advisable to defend against such claim, action, suit or other
proceeding. Following such discussion, (i) if Acquiror determines in its good faith commercial judgment that it is advisable to defend against such claim, action, suit or other proceeding, Acquiror shall have the right to assume and direct the
defense of such claim, action, suit or other proceeding and AT&T shall have the right to participate in the defense thereof and to employ counsel, at its own expense, separate from the counsel employed by Acquiror, and (ii) if Acquiror
determines in its good faith commercial judgment that it is not advisable to defend against such claim, action, suit or other proceeding, Acquiror shall promptly after making such determination deliver to AT&T written notice describing in
reasonable detail the reasons for such determination, and AT&T and its Affiliates may assume and direct such defense if the basis for Acquiror’s determination was related to other arrangements with the applicable Ground Lessors, but
otherwise AT&T and its Affiliates shall not assume, direct or pursue any such defense. The fees and expenses of counsel employed by (i) Acquiror in assuming and directing the defense of any such claims, actions, suits or other proceedings
in the circumstances described in clause (i) of the preceding sentence and (ii) AT&T in assuming and directing the defense of any such claims, actions, suits or other proceedings in the circumstances described in clause (ii) of
the preceding sentence, shall in each case be shared equally by AT&T and Acquiror. In no event may (A) a Party agree to amend any such Ground Lease or otherwise take any action reasonably likely to adversely affect such Ground Lease without
the consent of Acquiror, (B) a Party settle, compromise or discharge such claims, actions, suits or other proceedings without the consent of the other Parties, in each case such consent not to be unreasonably withheld, delayed or conditioned,
or (C) a Party enter into any settlement, agreement, arrangement or understanding in connection with any such claim, action, suit or other proceeding that would result in the payment of any Transaction Revenue Sharing Payments without the prior
written consent of the other Parties, such consent not to be unreasonably withheld, delayed or conditioned. 
 (b)
Notwithstanding anything in Section 9.10(a) to the contrary, in the event that (i) the applicable Ground Lessor with respect to any Site has threatened or commenced a claim, action, suit or other proceeding claiming that Transaction
Revenue Sharing Payments are owed to it, (ii) no such Transaction Revenue Sharing Payments have theretofore been previously paid to such Ground Lessor and (iii) Acquiror or the Tower Operator have taken actions after the Initial Closing
with respect to such Site in connection with potentially acquiring such Site, then AT&T and its Affiliates may, at their own expense, assume and direct the defense of such claim, action, suit or proceeding and Acquiror shall have the right to
participate in the defense thereof and to employ counsel, at its own expense, separate from the counsel employed by AT&T and its Affiliates. 

SECTION 9.11 Financing. 

(a) Acquiror shall use commercially reasonable efforts to take, or cause to be taken, all actions and to do, or cause to be
done, all things necessary or advisable to consummate an equity financing with net proceeds of no less than $1,100,000,000 (the “Equity Amount”) as soon as reasonably practicable after the date of this Agreement. 

  
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 (b) In the event that Acquiror has not consummated an equity financing with net
proceeds equal to or greater than the Equity Amount by the 10th Business Day following the date of this Agreement, then Acquiror shall pay to AT&T, as liquidated damages and not as a penalty, on the 11th Business Day following the date of the
Agreement and on every 7th day thereafter (or on next Business Day if such day is not a Business Day) the Weekly Amount in immediately available funds to an account designated by AT&T;
provided, however, that Acquiror’s obligation to pay to AT&T the Weekly Amount shall terminate (and no further Weekly Amount payments shall come due or be payable) upon the earliest to occur of (i) the date on which the
equity financing described in Section 9.11(a) is consummated, (ii) the Initial Closing Date and (iii) the termination of this Agreement in accordance with its terms. For the purposes of this Agreement, “Weekly
Amount” means, (i) for the first payment due pursuant to this Section 9.11(b), $1,000,000 and (ii) for each payment due pursuant to this Section 9.11(b) thereafter, an amount equal to $1,000,000 plus
the amount due in respect of the immediately preceding payment (whether or not paid). For the avoidance of doubt, no amounts that become payable to AT&T pursuant to this Section 9.11(b) shall be credited against the Consideration or
otherwise reimbursable to Acquiror. From and after the consummation of the equity financing with net proceeds of no less than the Equity Amount, Acquiror shall maintain available cash, committed financing (including under any portion of Debt
Financing Commitment) and available capacity under its existing revolving credit facility sufficient in the aggregate to enable Acquiror and the Tower Operator to consummate the transactions contemplated hereby. 

(c) Notwithstanding anything to the contrary contained in this Agreement, it is expressly understood and agreed by the Parties
that, following the consummation of the equity financing described in Section 9.11(a), Acquiror shall have the right in its sole discretion to cancel or terminate any and all commitments under the Debt Financing Commitment, so long as
after giving effect to such cancellation or termination Acquiror shall maintain available cash (including from the proceeds of any equity financing), committed financing (including under any portion of Debt Financing Commitment) and available
capacity under its existing revolving credit facility sufficient in the aggregate to enable Acquiror and the Tower Operator to consummate the transactions contemplated hereby, including payment of the Consideration and fees and expenses of Acquiror
relating to the transactions contemplated hereby. 
 (d) If any commitments under the Debt Financing Commitment remain
outstanding as of the date that is 20 Business Days prior to the Target Date, Acquiror shall cause the Marketing Period (as defined in the Debt Financing Commitment) to be concluded by the Business Day preceding the Target Date. 

(e) Acquiror and the Tower Operator acknowledge and agree that the receipt of the Equity Amount and the Debt Financing are not
conditions to the consummation of the Initial Closing or the other transactions contemplated by this Agreement and the Collateral Agreements, and that the failure to obtain the Equity Amount or the Debt Financing shall not in any way relieve
Acquiror and the Tower Operator of their obligations to consummate the Initial Closing or the other transactions contemplated by this Agreement and the Collateral Agreements. 

SECTION 9.12 Nature of Acquiror and Tower Operator. Immediately following the Initial Closing, after
giving effect to the transactions contemplated by this Agreement, the Tower Operator will have a net worth equal to or greater than $100,000,000. 

  
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 SECTION 9.13 Delivery of Rule 3-14 Financial
Statements. 
 (a) The AT&T Parties shall prepare and deliver, or cause to be prepared and
delivered, no later than the earlier of (i) 60 days following the date of this Agreement and (ii) the Initial Closing Date, an audited combined consolidated income statement in respect of the Portfolio Sites (other than any Excluded
Sites set forth on the Site List) for the fiscal year ended December 31, 2012 and an unaudited combined consolidated income statement for the Portfolio Sites (other than any Excluded Sites set forth on the Site List) for the 9-month period
ended September 30, 2013 (in each case, with any notes thereto as may be required by GAAP), including such items as are required for financial statements relating to the Sites prepared in accordance with Rule 3-14 of SEC
Regulation S-X (the “Required Financial Statements”). Prior to the Initial Closing Date, the AT&T Parties shall use commercially reasonable efforts to cause the independent registered public accounting firm that
completed the audit of the Required Financial Statements to provide a written consent to the inclusion of its audit report in appropriate filings by Acquiror or the Tower Operator with the SEC. As soon as practicable following the written request of
Acquiror (but in any event within 40 days after such request, but in no event prior to 40 days after the end of the applicable quarterly stub period (other than with respect to the period ended December 31, 2013, for which the financial
statements referred to in the last sentence of this Section 9.13(a) shall be the only financial statements provided)), the AT&T Parties shall deliver to Acquiror an unaudited combined consolidated income statement in respect of the
Sites for the prior quarterly stub period(s) following the periods covered in the Required Financial Statements; provided that the AT&T Parties shall have no obligation hereunder to deliver any stub period statements for periods ending
after the Initial Closing Date. The out-of-pocket costs and expenses of preparing the Required Financial Statements and subsequent stub period updates thereof shall be shared equally between Acquiror and the AT&T Parties. Notwithstanding
anything herein to the contrary, if the Initial Closing Date occurs on or after February 1, 2014, the AT&T Parties shall prepare and deliver, or cause to be prepared and delivered, prior to the Initial Closing an audited combined
consolidated income statement in respect of the Portfolio Sites (other than any Excluded Sites set forth in the Site List) for the fiscal year ended December 31, 2013 (with any notes thereto as may be required by GAAP), including such items as
are required for financial statements relating to the Sites prepared in accordance with Rule 3-14 of SEC Regulation S-X, and such income statement shall be deemed to be the Required Financial Statements (and the financial statements
referred to in the first sentence of this Section 9.13(a) shall cease to be the Required Financial Statements for purposes of this Agreement). 

(b) The AT&T Parties shall prepare and deliver, or cause to be prepared and delivered, no later than 20 Business Days
following the Initial Closing Date, the combined consolidated income statements for the periods covered by the Required Financial Statements and any unaudited combined consolidated income statements for subsequent quarterly stub periods required to
be delivered prior to the Initial Closing pursuant to Section 9.13(a) (in each case, for the Sites after giving effect to the removal of any Excluded Sites at or prior to the Initial Closing). 

  
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 SECTION 9.14 Confidentiality. 

(a) Acquiror and its Representatives shall treat all nonpublic information obtained in connection with this Agreement and the
Collateral Agreements and the transactions contemplated hereby and thereby as confidential in accordance with the terms of the Confidentiality Agreement, which is incorporated in this Agreement by reference. The Confidentiality Agreement shall
terminate at the Initial Closing; if this Agreement is, for any reason, terminated prior to the Initial Closing, the Confidentiality Agreement shall survive as provided in Section 12.2. 

(b) The AT&T Parties and the AT&T Newcos shall keep confidential, and shall cause AT&T’s Subsidiaries and
instruct their and AT&T’s Subsidiaries’ respective Representatives to keep confidential, all information relating to the Sites or the Included Property of the Sites, this Agreement and the Collateral Agreements and the transactions
contemplated hereby and thereby, (i) except as required to be disclosed by Law, stock exchange rule, governmental request, court order, subpoena, regulation or other process of Law, provided that the party required to disclose such
information shall have, to the extent practicable, (x) promptly notified Acquiror, the Tower Operator and, after the Initial Closing Date, the Sale Site Subsidiaries of any such disclosure obligation prior to such disclosure and (y) used
commercially reasonable efforts to cooperate with Acquiror, the Tower Operator and, after the Initial Closing Date, the Sale Site Subsidiaries to protect all such information from such disclosure, including seeking a protective order,
(ii) except for information that is available to the public on the Initial Closing Date or thereafter becomes available to the public other than as a result of a breach of this Section 9.14(b), (iii) except as required to
fulfill any of their obligations under this Agreement or any Collateral Agreement, (iv) except as becomes available to the AT&T Parties or the AT&T Newcos after the applicable Closing Date on a non-confidential basis from a source other
than Acquiror or its Subsidiaries, provided that such other source is not known by the AT&T Parties or the AT&T Newcos after reasonable inquiry to be bound by a confidentiality obligation to Acquiror or its Subsidiaries or otherwise
to be prohibited from disclosing such information to the AT&T Parties or the AT&T Newcos, (v) except for information independently developed by the AT&T Parties or the AT&T Newcos after the applicable Closing Date without use of
any information relating to the Sites or the Included Property of the Sites in their possession prior to the applicable Closing Date or (vi) to the extent necessary to assert any right or defend against any Claim arising under this Agreement or
any Collateral Agreement. The covenant set forth in this Section 9.14(b) shall terminate three years after the Initial Closing. 

SECTION 9.15 Environmental Matters. 

(a) Acquiror may commission, at Acquiror’s cost and expense, Phase I environmental assessments of all Sites. Acquiror
shall indemnify the AT&T Contributors and the AT&T Newcos and their respective Affiliates for any Claims resulting from or arising out of the activities undertaken to conduct Phase I environmental assessments of any Site by or on behalf of
Acquiror; provided, however, that Acquiror shall not indemnify the AT&T Contributors and the AT&T Newcos and their respective Affiliates for any Claim to the extent caused by (i) the gross negligence or willful misconduct
of any AT&T Contributor, AT&T Newco or such Affiliate or (ii) any environmental condition existing on any Site prior to Acquiror’s or its 

  
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agent’s entry thereon (except for any incremental damage, release or exacerbation of an existing condition caused by Acquiror or its agents with respect to any such environmental condition).

 (b) If requested by the AT&T Contributors, Acquiror shall promptly provide (at AT&T Contributors’ cost and
expense) to the AT&T Contributors and the AT&T Newcos copies of any and all Phase I environmental assessment reports commissioned by Acquiror on the Sites. Unless otherwise required by applicable Law, none of such reports or any information
contained in such reports or otherwise generated by Acquiror or the Tower Operator under this Agreement shall be released to any Person without the prior written consent of Acquiror, the AT&T Newcos and the AT&T Contributors, which shall not
be unreasonably withheld, except that any of Acquiror, the AT&T Newcos or the AT&T Contributors may provide such reports, on a confidential basis, to their respective Representatives and financing sources (and Representatives of their
financing sources) or in connection with any merger or other corporate transaction of Acquiror or any AT&T Party, or disposition of assets, that includes the Sites to which the reports apply (or any Liability with respect thereto). For the
avoidance of doubt, subject to Section 9.14(b), the foregoing shall in no way restrict the ability of AT&T or its Affiliates from, prior to the Initial Closing or the termination of this Agreement pursuant to
Section 12.1, disclosing any information generated by AT&T or its Affiliates. If this Agreement is terminated pursuant to Section 12.1 or if any Site becomes an Excluded Site, Acquiror shall, if requested by the AT&T
Contributors, promptly (A) turn over to the AT&T Contributors (at the AT&T Contributors’ sole cost and expense) all reports, documents, data and other writings and information, including copies and, if available, electronic format
thereof, relating to any and all Phase I environmental assessments conducted pursuant to Section 9.15(a) with respect to environmental conditions or compliance associated with such (or all, in the event of termination of this Agreement)
Sites, and such reports, documents or writings shall become the exclusive property of the AT&T Contributors; provided, however, that the AT&T Parties may not rely thereon and Acquiror shall have no obligations or liability with
respect thereto, or (B) destroy such documentation and information in accordance with Section 9.1(c). 

SECTION 9.16 Exclusivity. 

(a) From the date of this Agreement through the earlier of the Initial Closing Date or the termination of this Agreement, the
AT&T Parties shall not (and shall not cause their Representatives to) (i) solicit, initiate, facilitate or encourage the submission of any proposal or offer from any Person relating to the acquisition or lease of a material portion of the
Portfolio Sites (a “Competing Transaction”), including from any Person (other than Acquiror or its Affiliates) that entered into a confidentiality agreement in connection with the process for the sale or lease of the
Portfolio Sites as a whole (the “Auction”) by AT&T in 2013; or (ii) participate in any discussions or negotiations regarding, furnish any information with respect to, assist or participate in, or facilitate in any
other manner any effort or attempt by any Person to do or seek any of the foregoing, other than in each case in a transaction which would permit AT&T and its Affiliates to assign, sell, convey, transfer, lease, sublease, license or otherwise
dispose of the MPL or any of the MLAs or any of their respective rights, duties or obligations thereunder if one or more of such agreements were in effect at such time. 

(b) From the date of this Agreement through the earlier of the Initial Closing Date or the termination of this Agreement,
AT&T agrees not to release or permit the release of any 

  
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Person from, or to waive or permit the waiver of any provision of, any confidentiality, “standstill” or similar agreement to which AT&T or any of its Affiliates is a party with
respect to the Auction. AT&T shall promptly request each Person that has executed a confidentiality agreement in connection with the Auction to return all confidential information furnished to such Person by or behalf of AT&T or its
Affiliates. 
 (c) Notwithstanding anything to the contrary set forth in this Section 9.16, on and after
February 1, 2014, the prohibitions described in Sections 9.16(a) and (b) shall cease to apply to AT&T and its Affiliates; provided, that the conditions set forth in paragraphs (a), (b), (d) and (i) of
Section 10.2 would be capable of being satisfied on such date, if such date were the Initial Closing Date. 

SECTION 9.17 Tower Bonds. 

(a) Unless and until the Tower Operator has exercised its purchase option under the MPL with respect to any MPL Site, the
applicable AT&T Newco shall use its commercially reasonable efforts to maintain or replace all Tower Bonds that are in existence as of the Initial Closing Date with respect to such MPL Site (and provide the Tower Operator copies of any such
replacement), unless any such Tower Bond is no longer required with respect to such Site. The AT&T Contributors and their respective Affiliates will have no obligation to maintain any Tower Bonds with respect to an MPL Site following the
exercise by the Tower Operator of the purchase option with respect to such MPL Site. 
 (b) Unless and until any
non-Assignable Site is converted to an Assignable Site and a Subsequent Closing with respect to such Site is held in accordance with Section 2.6, the applicable AT&T Party shall use its commercially reasonable efforts to maintain or
replace all Tower Bonds that are in existence as of the Initial Closing Date with respect to such Site (and provide the Sale Site Subsidiaries copies of any such replacement), unless any such Tower Bond is no longer required with respect to such
Site. With respect to any Sale Site, no later than the date which is six months following the applicable Closing Date in the case of an Assignable Site, or six months following the applicable Subsequent Closing Date in the case of any Non-Assignable
Site converted to an Assignable Site, Acquiror shall, or shall cause the applicable Sale Site Subsidiary to, at its own cost and expense, (i) cause all Tower Bonds with respect to such Assignable Site to be replaced and, to the extent
applicable, terminated and discharged (including when any such Tower Bond expires or becomes subject to renewal during such six-month period), and (ii) cause all funds, property or other collateral related to such Tower Bonds that are actually
received by such Sale Site Subsidiary to be promptly returned and paid to the applicable AT&T Contributor. The AT&T Contributors and their respective Affiliates will have no obligation to maintain any Tower Bonds with respect to such
Assignable Sites following the expiration of the applicable six-month period. 
 SECTION 9.18 Master
Collocation Agreements; Multiple Site Ground Leases; Affiliate Collocation Agreements. 
 (a) Following the Initial
Closing Date and until the Final Closing Date, the Parties shall cooperate to bifurcate any material Master Collocation Agreement (so that one agreement pertains to the Sites and another agreement pertains to the remainder of the sites covered by
the 

  
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Master Collocation Agreement); it being understood that (i) the foregoing shall not require either Party to agree to any conditions or pay any money to the applicable
collocator in connection with such bifurcation, and (ii) the foregoing shall not apply if it would have an adverse impact on the rights of and obligations of the AT&T Parties under this Agreement or such Master Collocation Agreement. From
and after the Initial Closing Date until the time as such Master Collocation Agreement has been so bifurcated, the AT&T Parties and the AT&T Newcos shall not amend, modify, cancel or grant any waiver or release under such Master Collocation
Agreement in a manner that would reasonably be expected to adversely affect any Collocation Agreement without the consent of the Tower Operator or the applicable Sale Site Subsidiary, as applicable (such consent not to be unreasonably withheld,
delayed or conditioned). Upon the bifurcation of any such Master Collocation Agreement, the Master Collocation Agreement pertaining to the Sites shall be deemed to be a “Collocation Agreement” hereunder and shall be treated in the
applicable manner under this Agreement. 
 (b) Following the Initial Closing Date, the Parties shall cooperate to bifurcate
any Multiple Site Ground Lease (so that one lease pertains to the Ground Leased Sites Land and another lease pertains to the remainder of the land covered by the Multiple Site Ground Lease); it being understood that (i) the
foregoing shall not require either Party to agree to any conditions or pay any money to the applicable Ground Lessor in connection with such bifurcation and (ii) from and after the Initial Closing Date until the time as such Multiple Site
Ground Lease has been bifurcated, the AT&T Parties and the AT&T Newcos shall not amend, modify, terminate, cancel or grant any waiver or release under such Multiple Site Ground Lease in a manner that would reasonably be expected to adversely
affect any Ground Lease Sites without the consent of the Tower Operator (such consent not to be unreasonably withheld, delayed or conditioned). 

(c) Prior to the Initial Closing Date, the AT&T Parties shall terminate any agreements between or among an AT&T Party
(or any Affiliate thereof), on the one hand, and an Affiliate of such AT&T Party (or Affiliate thereof), on the other hand, pursuant to which such AT&T Party (or Affiliate thereof) rents or licenses to such Affiliate of such AT&T Party
(or Affiliate thereof) space at any Site (including space on a Tower), including all amendments, modifications, supplements, assignments and guaranties related thereto as in effect from time to time prior to the Initial Closing. 

SECTION 9.19 Entry into Ground Leases. 

(a) With respect to each Site set forth on Schedule 7 (each, a “Schedule 7 Site”), AT&T
shall cause the applicable AT&T Party, at or prior to the Initial Closing, to enter into a lease or sublease, as applicable, substantially in the form attached hereto as Exhibit S and otherwise in accordance with this
Section 9.19(a) (each, a “Reserved Property Lease”). AT&T shall use commercially reasonable efforts to deliver to Acquiror a substantially complete draft of each Reserved Property Lease (including Exhibit A
thereto describing in reasonable detail, whether by metes and bounds or graphically, the premises to be demised thereby) not later than five Business Days prior to the Initial Closing Date. The premises to be demised by each Reserved Property Lease
shall constitute the entire Schedule 7 Site other than the Reserved Property of such Schedule 7 Site. The initial lessor and initial lessee under each Reserved Property Lease will be the AT&T Party which holds the fee simple interest in the
related Schedule 7 Site or, in the case of a Schedule 7 Site which is subject to a Ground Lease, the 

  
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AT&T Party which holds the leasehold interest under such Ground Lease. In connection with the transactions contemplated by this Agreement with respect to the Schedule 7 Sites, at the Initial
Closing or the applicable Subsequent Closing, the applicable AT&T Party will contribute, convey, assign, transfer and deliver to the applicable AT&T Newco in the case of a Contributable Site, or to the applicable Sale Site Subsidiary in the
case of an Assignable Site, all of its respective right, title and interest in, to and under the lessee’s interest in each Reserved Property Lease. 

(b) In the event either (A) AT&T shall fail to deliver a substantially complete draft of the Reserved Property Lease
with respect to a Schedule 7 Site by the date that is five Business Days prior to the Initial Closing Date or (B) the demised premises described in Exhibit A of a draft Reserved Property Lease with respect to a Schedule 7 Site delivered by
AT&T pursuant to Section 9.19(a) constitutes less than 500 square feet of ground space (including the ground on which the related Tower sits), then, unless Acquiror shall otherwise determine in its sole discretion, such Schedule 7
Site shall be deemed to be an Excluded Site at the Initial Closing. 
 SECTION 9.20 Notices of Certain
Events; Supplemental Disclosure. Each Party shall use its commercially reasonable efforts to promptly notify the other Parties of any changes or events occurring between the date of this Agreement and any Closing with respect to any written
notice or other written communication from any Governmental Authority in connection with an Authorization related to the consummation of the transactions contemplated by this Agreement. 

SECTION 9.21 Master Emergency Backup Power Service Agreement. The Parties shall negotiate the form,
terms and conditions of a definitive Master Emergency Backup Power Service Agreement (the “Master Emergency Backup Power Service Agreement”) on the basis of the Master Emergency Backup Power Service Agreement Term Sheet
attached as Exhibit Q, in good faith, with such Master Emergency Backup Power Service Agreement to set forth arms’–length terms and incorporate usual and customary provisions for similar agreements. If the Parties fail to agree upon
the Master Emergency Backup Power Service Agreement by the Initial Closing, such failure shall not cause the Initial Closing not to occur and the Parties shall be deemed to have made the delivery required by Section 10.2(f) or
Section 10.3(d), as applicable, with respect to the Master Emergency Backup Power Service Agreement. To the extent that the Master Emergency Backup Power Service Agreement is not entered into by the Initial Closing, AT&T and Acquiror
agree that the terms of the Master Emergency Backup Power Service Agreement Term Sheet shall become binding and be in full force and effect as of the Initial Closing, and each of AT&T and Acquiror agrees to be bound by and comply with the terms
set forth in the Master Emergency Backup Power Service Agreement Term Sheet until such time as the Master Emergency Backup Power Service Agreement is entered into by AT&T and Acquiror. 

SECTION 9.22 Transition Services Fees. Schedule A of the Transition Services Agreement includes a
description of the transitional and operational services to be provided by AT&T or its Affiliates thereunder (the “Transition Services”) related to the Sites. The Parties acknowledge that the description of the Transition
Services contained in Schedule A does not include specific service fees corresponding to each of the Transition Services. The Parties shall work in good faith to prepare, as soon as reasonably practicable after the date of this Agreement 

  
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(and in all events by the 30th day following the date of this Agreement), a schedule of “Service Fees,” as that term is used in the Transition Services Agreement. To the extent the
Parties mutually agree upon such Service Fees, the Parties shall modify Schedule A of the Transition Services Agreement as of the Initial Closing to reflect such Service Fees. The Parties agree that if they are not able to agree to the Service Fees
with respect to any Transition Services by the 30th day following the date of this Agreement, the Service Fees for any such Transition Service shall be determined in accordance with the terms of Section 3.1 of the Transition Services Agreement.

 ARTICLE 10 

CONDITIONS TO CLOSING 

SECTION 10.1 Conditions to the Obligations of Each Party to the Initial Closing. The respective
obligation of each Party to consummate the Initial Closing at the Initial Closing Date is subject to the satisfaction or waiver (to the extent permitted under applicable Law) on or prior to the Initial Closing Date of each of the following
conditions: (a) at the Initial Closing, no Order shall be in effect prohibiting the closing of the transactions contemplated by this Agreement and the Collateral Agreements; and (b) the waiting period, if any, applicable to the
consummation of the transactions contemplated by this Agreement and the Collateral Agreements under the HSR Act, if applicable, shall have expired or been terminated, and no action shall have been instituted by the United States Department of
Justice or the United States Federal Trade Commission challenging or seeking to enjoin the consummation of the transactions contemplated by this Agreement and the Collateral Agreements, which action shall not have been withdrawn or terminated. 

SECTION 10.2 Additional Conditions to Acquiror’s Obligation to the Initial Closing.
Acquiror’s and the Tower Operator’s obligation to consummate the Initial Closing is subject to the satisfaction or waiver by Acquiror and the Tower Operator (to the extent permitted under applicable Law) on or prior to the Initial Closing
Date of each of the following conditions: 
 (a) (i) The Specified Representations and Warranties of the AT&T
Parties, the AT&T Newcos and the Sale Site Subsidiaries (other than those qualified by Material Adverse Effect) shall be true and correct in all material respects, in each case as of the date of this Agreement and as of the Initial Closing Date
as though made on and as of such date and time (except to the extent that any such representation and warranty expressly speaks as of an earlier date, in which case such representation and warranty shall be so true and correct as of such earlier
date); (ii) the representations and warranties of the AT&T Parties, the AT&T Newcos and the Sale Site Subsidiaries set forth in this Agreement that are qualified by reference to Material Adverse Effect, including those Specified
Representations and Warranties qualified by Material Adverse Effect, shall be true and correct as of the date of this Agreement and as of the Initial Closing Date as though made on and as of such date and time (except to the extent that any such
representation and warranty expressly speaks as of an earlier date, in which case such representation and warranty shall be so true and correct as of such earlier date); and (iii) the representations and warranties of the AT&T Parties, the
AT&T Newcos and the Sale Site Subsidiaries set forth in this Agreement (other than those set forth in Section 10.2(a)(i)) that are not qualified by reference to Material Adverse Effect shall be true and correct as of the date of

  
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this Agreement and as of the Initial Closing Date as though made on and as of such date and time (except to the extent that any such representation and warranty expressly speaks as of an earlier
date, in which case such representation and warranty shall be so true and correct as of such earlier date); provided, however, that notwithstanding anything herein to the contrary, the condition set forth in this
Section 10.2(a)(iii) shall be deemed to have been satisfied even if any representations and warranties of the AT&T Parties are not true and correct unless the failure of such representations and warranties of the AT&T Parties,
the AT&T Newcos and the Sale Site Subsidiaries to be true and correct, individually or in the aggregate, has had or would reasonably be expected to have a Material Adverse Effect. 

(b) The covenants and agreements of the AT&T Parties, the AT&T Newcos and the Sale Site Subsidiaries to be performed
on or before the Initial Closing Date in accordance with this Agreement shall have been duly performed in all material respects. 

(c) The contributions, conveyances, assignments, transfers and deliveries contemplated by Schedule 1 of the AT&T
Internal Transfers Agreement shall have been consummated in all material respects in accordance with the AT&T Internal Transfers Agreement. 

(d) Acquiror shall have received a certificate, dated as of the Initial Closing Date, from (i) each AT&T Contributor
signed on behalf of such AT&T Contributor by an authorized officer thereof and (ii) an authorized officer of AT&T with respect to itself, in each case, to the effect set forth in paragraphs (a) through (c) above and paragraph
(i) below. 
 (e) No suit, action or other proceeding relating to the transactions contemplated by this Agreement and
the Collateral Agreements shall be pending before or threatened by any Governmental Authority in which a Governmental Authority seeks or threatens to impose any conditions, liabilities, restrictions or requirements (including the taking of, or
requirement to omit the taking of, actions) on (i) Acquiror or its Subsidiaries, that would, individually or in the aggregate, reasonably be expected to be material and adverse to Acquiror and its Subsidiaries, taken as a whole, or
(ii) the Sites, that would, individually or in the aggregate, reasonably be expected to be material and adverse to the Sites, taken as a whole. For purposes of this Section 10.2(e) and Section 10.3(f), no suit, action or
other proceeding shall be deemed threatened unless the threat has been expressed either in writing or to one or more Representatives of Acquiror and AT&T at a meeting or telephone conference at which one or more Representatives of Acquiror and
AT&T shall have been present. 
 (f) The AT&T Parties, the AT&T Newcos and the Sale Site Subsidiaries shall have
executed and delivered to Acquiror, as applicable, all Collateral Agreements and such other agreements and documents contemplated by Section 2.2 of this Agreement to which any of them is a party. 

(g) In connection with the transactions contemplated by Section 2.2(e), on the terms and subject to the conditions
of this Agreement, the AT&T Parties, the AT&T Newcos and the Sale Site Subsidiaries, as applicable, shall have delivered, or caused to be delivered, to Acquiror a duly executed certification of non-foreign status of each AT&T Contributor
in connection with each Sale Site Subsidiary in a form complying with the requirements of Section 1445 of the 

  
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Code (a “FIRPTA Certificate”); provided, however, that if an AT&T Contributor fails to deliver such FIRPTA Certificate, no Party will be entitled to
prevent or delay the Initial Closing but will be entitled to withhold and pay over to the U.S. Internal Revenue Service all requisite amounts, if any, as required in accordance with Section 1445 of the Code. 

(h) The AT&T Parties, the AT&T Newcos and the Sale Site Subsidiaries shall have delivered, or caused to be delivered,
to Acquiror and the Tower Operator (i) a copy of each AT&T Newco Certificate of Formation and each Sale Site Subsidiary Certificate of Formation, certified by the Secretary of State of Delaware as of a date no more than 10 days prior to the
Initial Closing Date and (ii) a certified copy of each AT&T Newco LLC Agreement and Sale Site Subsidiary LLC Agreement. 

(i) Since December 31, 2012, there shall have been no state of facts, change, effect, condition, development, event or
occurrence that has had or would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 

SECTION 10.3 Additional Conditions to AT&T’s Obligations to the Initial Closing. The
AT&T Parties’, the AT&T Newcos’ and the Sale Site Subsidiaries’ obligation to consummate the Initial Closing is subject to the satisfaction or waiver by AT&T, the AT&T Newcos and the Sale Site Subsidiaries (to the
extent permitted under applicable Law) on or prior to the Initial Closing Date of each of the following conditions: 
 (a)
(i) The Specified Representations and Warranties of Acquiror and the Tower Operator shall be true and correct in all material respects as of the date of this Agreement and as of the Initial Closing Date as though made on and as of such date and
time (except to the extent that any such representation and warranty expressly speaks as of an earlier date, in which case such representation and warranty shall be so true and correct as of such earlier date); and (ii) all other
representations and warranties of Acquiror and the Tower Operator set forth in this Agreement shall be true and correct as of the date of this Agreement and as of the Initial Closing Date as though made on and as of such date and time (except to the
extent that any such representation and warranty expressly speaks as of an earlier date, in which case such representation and warranty shall be so true and correct as of such earlier date); provided, however, that notwithstanding
anything herein to the contrary, the condition set forth in this Section 10.3(a)(ii) shall be deemed to have been satisfied even if any representations and warranties of Acquiror and the Tower Operator are not true and correct unless the
failure of such representations and warranties of Acquiror and the Tower Operator to be true and correct would, individually or in the aggregate, reasonably be expected to prevent, materially delay or materially impair the ability of Acquiror and
the Tower Operator to consummate the transactions contemplated by this Agreement and the Collateral Agreements to which it is or they are a party. 

(b) The covenants and agreements of Acquiror and the Tower Operator to be performed on or before the Initial Closing Date in
accordance with this Agreement shall have been duly performed in all material respects. 
 (c) The AT&T Contributors
shall have received a certificate, dated the Initial Closing Date, from Acquiror signed on behalf of Acquiror by an authorized officer of Acquiror with respect to itself to the effect set forth in paragraphs (a) and (b) above and paragraph
(h) below. 

  
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 (d) At the Initial Closing, Acquiror and the Tower Operator shall have executed
and delivered to the AT&T Contributors and the AT&T Newco, as applicable, all Collateral Agreements and such other agreements and documents contemplated by Section 2.2 of this Agreement to which it is a Party. 

(e) No Order of a Governmental Authority shall be in effect that imposes any Regulatory Condition on AT&T or any of its
Affiliates in connection with the transactions contemplated in this Agreement. 
 (f) No suit, action or other proceeding
relating to the transactions contemplated by this Agreement and the Collateral Agreements shall be pending before or threatened by any Governmental Authority in which a Governmental Authority seeks or threatens to impose any conditions, liabilities,
restrictions or requirements (including the taking of, or requirement to omit the taking of, actions) on AT&T or its Subsidiaries, that would, individually or in the aggregate, reasonably be expected to be material and adverse to AT&T and
its Subsidiaries, taken as a whole (assuming for the purpose of this Section 10.3(f) that AT&T and its Subsidiaries, taken as a whole, has assets and results of operations comparable to the Sites as of the date of this Agreement, but
assuming that the MLAs were in effect on the date of this Agreement). 
 (g) No change in applicable federal income Tax Law
shall have occurred following the date of this Agreement that adversely impacts (i) the federal income Tax characterization of each of the MPL and Management Agreement (excluding any Managed Sale Site under the Management Agreement) as
“true leases” for U.S. federal income tax purposes or (ii) the treatment of the prepaid rent received by the AT&T Parties under the MPL and the Management Agreement (excluding any Managed Sale Site under the Management Agreement)
as being accounted for under Code Section 467 and the Treasury Regulations thereunder (as such Code Section and Treasury Regulations existed on the date hereof). 

(h) Since December 31, 2012, there shall have been no state of facts, change, effect, condition, development, event or
occurrence that has had or would reasonably be expected to have, individually or in the aggregate, a Tower Operator Material Adverse Effect. 

SECTION 10.4 Conditions to the Obligations to Close the Subsequent Documentary Closings. 

(a) The respective obligations of each Party to consummate each Documentary Subsequent Closing is subject to the satisfaction
or waiver (to the extent permitted under applicable Law) of the following condition: on each such Documentary Subsequent Closing Date, no Order of a Governmental Authority shall be in effect, prohibiting, restraining or enjoining such Documentary
Subsequent Closing; 
 (b) The obligation of Acquiror and the Tower Operator to consummate each Documentary Subsequent
Closing is subject to the satisfaction or waiver by Acquiror and the Tower Operator of the following condition: the AT&T Parties and the AT&T Newcos shall have executed and delivered to Acquiror and the Tower Operator (i) amended
schedules and exhibits 

  
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to the MPL and the applicable MLA and (ii) such other agreements and documents as contemplated by Section 2.6 of this Agreement; and 

(c) The obligation of the AT&T Parties, the AT&T Newcos and the Sale Site Subsidiaries to consummate each Documentary
Subsequent Closing is subject to the satisfaction or waiver of the following condition: Acquiror and the Tower Operator shall have executed and delivered to the AT&T Parties and the AT&T Newcos (i) amended schedules and exhibits to the
MPL and the applicable MLA and (ii) such other agreements and documents as contemplated by Section 2.6 of this Agreement. 

ARTICLE 11 

INDEMNIFICATION; SURVIVAL 

SECTION 11.1 Indemnification Obligations of the AT&T Parties and the AT&T Newcos. 

(a) Without limiting the other obligations of the AT&T Parties under this Agreement and any Collateral Agreement, from and
after the Initial Closing, AT&T shall defend, indemnify and save and hold harmless each of the Acquiror Indemnified Parties from and against all Claims to the extent resulting from, arising out of or relating to: 

(i) any breach or inaccuracy of any representation or warranty, other than any Non-Surviving Representation and
Warranty, made by any AT&T Party or any Sale Site Subsidiary in this Agreement (it being agreed that for purposes of determining the existence of any such inaccuracy or breach or the amount of any Claim with respect thereto, the Specified
Representations and Warranties, to the extent they are qualified as to materiality or by reference to a Material Adverse Effect, shall be deemed not to be so qualified); 

(ii) any breach or nonperformance of any covenant or agreement made by any AT&T Party or, prior to the
Initial Closing, any Sale Site Subsidiary in this Agreement; 
 (iii) any Taxes with respect to a Site that
are attributable to any taxable period (or portion thereof) ending on or before the Initial Closing with respect to such Site (excluding for this purpose Transfer Taxes arising on the Initial Closing Date with respect to such Site as a result of or
after the Initial Closing). For this purpose, Taxes determined on a periodic basis (e.g., property Taxes) shall be treated as accruing on a daily pro rata basis during the taxable period to which they relate; 

(iv) any Transfer Taxes with respect to a Site imposed with respect to transfers exclusively between AT&T
and its Affiliates; or 
 (v) any Pre-Closing Liabilities. 

(b) Without limiting the other obligations of the AT&T Newcos under this Agreement and any Collateral Agreement, from and
after the Initial Closing, the AT&T Newcos shall, jointly and severally, defend, indemnify and save and hold harmless each of the Acquiror 

  
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Indemnified Parties from and against all Claims to the extent resulting from, arising out of or relating to: 

(i) any breach or inaccuracy of any representation or warranty made by any AT&T Newco in this Agreement (it
being agreed that for purposes of determining the existence of any such inaccuracy or breach or the amount of any Claim with respect thereto, the Specified Representations and Warranties, to the extent they are qualified as to materiality or by
reference to a Material Adverse Effect, shall be deemed not to be so qualified); or 
 (ii) any breach or
nonperformance of any covenant or agreement made by any AT&T Newco in this Agreement. 
 (c) The rights of Acquiror
Indemnified Parties to indemnification under this Agreement shall not be affected by any investigation conducted or actual or constructive knowledge acquired at any time by an Acquiror Indemnified Party, whether before or after the date of this
Agreement or any Closing Date. 
 SECTION 11.2 Indemnification Obligations of Acquiror and the Tower
Operator. 
 (a) Without limiting Acquiror’s other obligations under this Agreement or any Collateral
Agreement, from and after the Initial Closing, Acquiror shall defend, indemnify and save and hold harmless each of the AT&T Indemnified Parties from and against all Claims to the extent resulting from, arising out of or relating to: 

(i) any breach or inaccuracy of any representation or warranty other than a Non-Surviving Representation and
Warranty made by Acquiror in this Agreement (it being agreed that for purposes of determining the existence of any such inaccuracy or breach or the amount of any Claim with respect thereto, the Specified Representations and Warranties, to the extent
they are qualified as to materiality, shall be deemed not to be so qualified); 
 (ii) any breach or
nonperformance of any covenant or agreement made by Acquiror or, after the Initial Closing, any Sale Site Subsidiary in this Agreement; 

(iii) any Post-Closing Liabilities; or 

(iv) any Acquiror Indemnified Site Claims. 

(b) Without limiting the Tower Operator’s other obligations under this Agreement or any Collateral Agreement, from and
after the Initial Closing, the Tower Operator shall defend, indemnify and save and hold harmless each of the AT&T Indemnified Parties from and against all Claims to the extent resulting from, arising out of or relating to: 

(i) any breach or inaccuracy of any representation or warranty made by the Tower Operator in this Agreement (it
being agreed that for purposes of determining the existence of any such inaccuracy or breach or the amount of any Claim with respect 

  
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thereto, the Specified Representations and Warranties, to the extent they are qualified as to materiality, shall be deemed not to be so qualified); or 

(ii) any breach or nonperformance of any covenant or agreement made by the Tower Operator in this Agreement.

 (c) The rights of the AT&T Indemnified Parties to indemnification under this Agreement shall not be affected by any
investigation conducted or actual or constructive knowledge acquired at any time by an AT&T Indemnified Party, whether before or after the date of this Agreement or any Closing Date. 

(d) Acquiror’s and the Tower Operator’s payment and indemnification obligations with respect to Taxes (other than
such obligations with respect to Taxes as a result of Section 11.8) shall be governed solely under Section 22 and Section 34 of the MPL and Section 2.10 hereof and not this Article 11. 

SECTION 11.3 Indemnification Claim Procedure. 

(a) If any Party asserting a claim for indemnification (an “Indemnified Party”) shall desire to assert
any claim for indemnification provided for under this Article 11 in respect of, arising out of or involving a claim or demand made by any Person (other than a Party) against an Indemnified Party (a “Third Party
Claim”), such Indemnified Party shall notify the Party or Parties alleged to be obligated to indemnify (the “Indemnifying Party”) in writing of such Third Party Claim, describing in reasonable detail the amount
or the estimated amount of Claims sought thereunder, any other remedy sought thereunder, any relevant time constraints relating thereto and, to the extent practicable, any other material details pertaining thereto (a “Third Party Claim
Notice”) promptly after receipt by such Indemnified Party of written notice of the Third Party Claim; provided, however, that any failure to provide or delay in providing a Third Party Claim Notice shall not affect the
indemnification provided hereunder except to the extent the Indemnifying Party shall have been actually prejudiced as a result of such failure or delay. To the extent permitted by applicable Law, the Indemnified Party shall deliver to the
Indemnifying Party, promptly after the Indemnified Party’s receipt thereof, copies of all notices and documents (including court papers) received by the Indemnified Party relating to the Third Party Claim; provided, however, that
any failure to deliver or delay in delivering such copies shall not affect the indemnification provided hereunder except to the extent the Indemnifying Party’s ability to defend such claim shall have been actually prejudiced as a result of such
failure or delay. 
 (b) If a Third Party Claim is made against an Indemnified Party, the Indemnifying Party will be
entitled to participate in the defense thereof and, if it so chooses, to assume the defense thereof with counsel selected by the Indemnifying Party and reasonably satisfactory to the Indemnified Party by delivering notice to the Indemnified Party in
writing within 20 Business Days after receiving the Third Party Claim Notice that it elects to assume such defense and pay its defense costs in connection therewith (including attorneys’ fees and expenses). If the Indemnifying Party
declines, fails to respond to the Third Party Claim Notice or fails to assume the defense of the Third Party Claim within such 20 Business Day period, then the Indemnified Party may control the defense of such Third Party Claim. Should the
Indemnifying Party elect to 

  
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assume the defense of a Third Party Claim, the Indemnifying Party will not be required to indemnify the Indemnified Party for legal expenses subsequently incurred by the Indemnified Party in
connection with the defense thereof, unless the Third Party Claim involves conflicts of interest or substantially different defenses for the Indemnified Party and the Indemnifying Party. If the Indemnifying Party assumes such defense, the
Indemnified Party shall have the right to participate in defense thereof and to employ counsel, at its own expense (except as provided in the immediately preceding sentence), separate from the counsel employed by the Indemnifying Party. If the
Indemnifying Party chooses to defend any Third Party Claim, all the Parties hereto shall cooperate in the defense or prosecution thereof. Such cooperation shall include using commercially reasonable efforts to retain and (upon the Indemnifying
Party’s request) provide to the Indemnifying Party records and information that are reasonably relevant to such Third Party Claim, and using commercially reasonable efforts to make employees available on a mutually convenient basis to provide
additional information and explanation of any material provided hereunder. Whether or not the Indemnifying Party shall have assumed the defense of a Third Party Claim, the Indemnified Party shall not admit any Liability with respect to, or settle,
compromise or discharge, such Third Party Claim without the Indemnifying Party’s prior written consent. The Indemnifying Party shall not consent to a settlement of, or the entry of any judgment arising out of or in connection with, any Third
Party Claim without the written consent of the applicable Indemnified Party; provided, however, that the Indemnified Party shall not withhold its consent if (i) contemporaneously with the effectiveness of such settlement,
compromise or consent, the Indemnifying Party pays in full any obligation imposed on the Indemnified Party by such settlement, compromise or consent, which as a condition to such settlement, compromise or consent releases each relevant Indemnified
Party completely and unconditionally in connection with such settlement, compromise or consent and without any finding or admission of any violation of Law or admission of any wrongdoing and (ii) such settlement, compromise or consent does not
contain any equitable Order or term which in any manner affects, restrains or interferes with the business of the Indemnified Party or any of the Indemnified Party’s Affiliates. 

(c) If an Indemnified Party shall desire to assert any claim for indemnification provided for under this
Article 11 other than a claim in respect of, arising out of or involving a Third Party Claim (a “Direct Claim”), such Indemnified Party shall promptly notify the Indemnifying Party in writing of such Direct Claim,
describing in reasonable detail the specific provisions of this Agreement claimed to have been breached, the factual basis supporting the contention that such provisions were breached, the amount or the estimated amount of damages sought thereunder,
any other remedy sought thereunder, any relevant time constraints relating thereto and, to the extent practicable, any other material details pertaining thereto (a “Direct Claim Notice”); provided, however, that
any failure to provide or delay in providing such notification shall not affect the indemnification provided for hereunder except to the extent the Indemnifying Party shall have been actually prejudiced as a result of such failure or delay. The
Indemnifying Party shall have a period of 20 Business Days within which to respond to any Direct Claim Notice, stating whether it disputes the existence or scope of an obligation to indemnify the Indemnified Party under this Article 11. If
the Indemnifying Party does not so respond within such 20 Business Day period stating that the Indemnifying Party disputes its liability for such claim, the Indemnifying Party will be deemed to have accepted such claim, such claim shall be
conclusively deeded a liability of the Indemnifying Party and the Indemnifying Party shall pay the amount of such claim to the Indemnified Party as promptly as 

  
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reasonably practicable after demand therefore or, in the case of any Direct Claim Notice in which the amount of the claim (or any portion thereof) is estimated, as promptly as reasonably
practicable after such later date when the amount of such claim (or such portion thereof) becomes finally determined. If the Indemnifying Party disputes all or any part of such claim, the Indemnified Party and the Indemnifying Party shall attempt in
good faith for 20 Business Days to resolve such claim. If no such agreement can be reached through good faith negotiation within 20 Business Days, either the Indemnified Party or the Indemnifying Party may act to resolve such dispute in
accordance with Section 13.2. 
 (d) The AT&T Contributors and their Affiliates shall control the defense of
all Claims related to Pre-Closing Liabilities. 
 SECTION 11.4 Indemnity Period. Except with
respect to fraud by or on behalf of the Indemnifying Party, the obligations of any Indemnifying Party to indemnify any Indemnified Party: 

(a) pursuant to Section 11.1(a)(i), Section 11.1(b)(i), Section 11.2(a)(i) or
Section 11.2(b)(i) shall terminate on the date that is 12 months following the Initial Closing Date; provided, however, that the obligations of any Indemnifying Party to indemnify any Indemnified Party from, against
and in respect of any and all Claims that arise out of or relate to any breach or inaccuracy of any Specified Representation and Warranty shall survive indefinitely; 

(b) pursuant to Section 11.1(a)(ii), Section 11.1(b)(ii), Section 11.2(a)(ii) or
Section 11.2(b)(ii) shall survive until the time period stated in the covenant that is the subject of such Claim or until the expiration of the applicable statute of limitations if unstated; 

(c) pursuant to Section 11.1(a)(iii) or Section 11.1(a)(iv) shall terminate on the date that is 90
days following the expiration of the applicable statute of limitations, including as it may be extended from time to time by the mutual agreement of AT&T and Acquiror; 

(d) pursuant to Section 11.1(a)(v) or Section 11.2(a)(iv) shall terminate on the date that is five
years following the Initial Closing Date; and 
 (e) pursuant to Section 11.2(a)(iii) shall survive
indefinitely. 
 Notwithstanding anything to the contrary in this Agreement, notices for Claims must be delivered before
expiration of any applicable survival period specified in this Section 11.4; provided, however, that if prior to the close of business on the last day of the applicable Indemnity Period, an Indemnifying Party has been
properly notified of a Claim for losses under this Agreement and such Claim has not been finally resolved or disposed of at such date, such Claim shall continue to survive and shall remain a basis for indemnity under this Agreement until such Claim
is finally resolved or disposed of in accordance with the terms of this Agreement. 

  
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 SECTION 11.5 Liability Limits. 

(a) Notwithstanding anything to the contrary in this Agreement, the AT&T Parties and the AT&T Newcos, collectively,
shall have no obligation to indemnify (including any obligation to make any payments to) any Acquiror Indemnified Party with respect to (i) any single Claim less than $40,000 (each, a “De Minimis Claim”) under
Section 11.1(a)(i) or Section 11.1(b)(i), (ii) any Claims under Section 11.1(a)(i) or Section 11.1(b)(i) unless and until the aggregate amount of such Claims (excluding amounts associated with De
Minimis Claims) exceeds an amount equal to $42,000,000 (the “Representations and Warranties Deductible”), after which the AT&T Parties and the AT&T Newcos, collectively, shall only be required to indemnify the
Acquiror Indemnified Parties for all such Claims (excluding amounts associated with De Minimis Claims) in excess of the Representations and Warranties Deductible and (iii) any Claims under Section 11.1(a)(v) unless and until the
aggregate amount of such Claims exceeds an amount equal to $8,400,000 (the “Pre-Closing Claims Deductible”), after which the AT&T Parties and the AT&T Newcos, collectively, shall only be required to indemnify the
Acquiror Indemnified Parties for all such Claims in excess of the Pre-Closing Claims Deductible. In no event shall the AT&T Parties or the AT&T Newcos be required to indemnify the Acquiror Indemnified Parties under
Section 11.1(a)(i) or Section 11.1(b)(i), taken together, for more than $242,500,000 in the aggregate (the “Cap”). Notwithstanding the foregoing, the limitations set forth in this
Section 11.5(a) shall not apply to any Claims resulting from or arising out of breaches of the Specified Representations and Warranties or due to fraud, by or on behalf of the Indemnifying Party. 

(b) Notwithstanding anything to the contrary in this Agreement, Acquiror and the Tower Operator, collectively, shall have no
obligation to indemnify (including any obligation to make any payments to) any AT&T Indemnified Party with respect to (i) any De Minimis Claim under Section 11.2(a)(i) or Section 11.2(b)(i) and (ii) any Claims
under Section 11.2(a)(i) or Section 11.2(b)(i) unless and until the aggregate amount of such Claims (excluding amounts associated with De Minimis Claims) exceeds the Representations and Warranties Deductible, after which
Acquiror and the Tower Operator, collectively, shall only be required to indemnify the AT&T Indemnified Parties for all such Claims (excluding amounts associated with De Minimis Claims) in excess of the Representations and Warranties Deductible.
In no event shall Acquiror or the Tower Operator be required to indemnify the AT&T Indemnified Parties under Section 11.2(a)(i) or Section 11.2(b)(i), taken together, for more than the Cap in the aggregate.
Notwithstanding the foregoing, the limitations set forth in this Section 11.5(b) shall not apply to any Claims resulting from or arising out of breaches of the Specified Representations and Warranties or due to fraud, by or on behalf of
the Indemnifying Party. 
 (c) Notwithstanding anything to the contrary in this Article 11, in no event shall an
Indemnifying Party have liability to any Indemnified Party for any consequential, special, incidental, indirect or punitive damages, lost profits or similar items, in each case except as actually paid to a claimant in a Third Party Claim and
provided that the foregoing shall not limit recovery for diminution in value of an asset as a result of a breach. 

  
 -87- 

 SECTION 11.6 Mitigation. 

Each Party shall take commercially reasonable actions to mitigate its damages, including by pursuing insurance claims, and
shall reasonably consult and cooperate with the other Parties with a view toward mitigating Claims upon and after becoming aware of any event or condition which would reasonably be expected to give rise to any Claims that are indemnifiable
hereunder; provided, however, that the foregoing shall not require any Party to incur costs to remedy a breach which gives rise to any Claim. 

SECTION 11.7 Exclusive Remedies. (a) After the Initial Closing, except with respect to fraud by
or on behalf of the Indemnifying Party and except as expressly provided in Section 1.3, Section 2.8, Article 4 and Sections 9.1(a) and 9.15(a), the Parties acknowledge and agree that the indemnification
provisions of Section 2.10 and this Article 11 shall be the sole and exclusive monetary remedy for any Claims to the extent resulting from or arising out of the matters described in Section 11.1 and
Section 11.2. Notwithstanding the foregoing, (i) as provided in Sections 2.3(a) and 2.3(b), none of Acquiror, the Tower Operator or any of their Affiliates shall assume any Liability for any Excluded Liabilities or
Pre-Closing Liabilities, which shall be solely for the account of and shall remain with the AT&T Parties, as applicable, and (ii) nothing contained herein shall impair the right of Acquiror and the Tower Operator to compel, at any time,
specific performance by any AT&T Party or any AT&T Newco of its obligations under this Agreement or any of the Collateral Agreements or the right of the AT&T Parties and the AT&T Newcos to compel, after the Initial Closing, specific
performance by Acquiror or the Tower Operator of its obligations under this Agreement or any of the Collateral Agreements that survive the Initial Closing. 

(b) Notwithstanding anything to the contrary contained in this Agreement, none of the Debt Financing Sources, their respective
Affiliates or their and their respective Affiliates’ officers, directors, employees, advisors and agents, shall have any liability to the AT&T Parties or any of their Affiliates relating to or arising out of the failure to provide the Debt
Financing, whether at law or equity, in contract, in tort or otherwise, and neither the AT&T Parties nor any of their Affiliates shall have any rights or claims against any of the Debt Financing Sources prior to the Initial Closing in connection
with the financing of the Debt Financing, their respective Affiliates or their and their respective Affiliates’ officers, directors, employees, advisors and agents hereunder, and in no event shall the AT&T Parties be entitled to seek the
remedy of specific performance of this Agreement against the Debt Financing Sources. 
 SECTION 11.8
Netting of Losses; Tax Treatment. All payments made pursuant to this Article 11 shall, to the fullest extent permitted by applicable Law, be treated for all Tax purposes (to the extent such treatment is consistent with
the rent allocations made for purposes of Section 467 of the Code pursuant to Section 10 of the MPL) as adjustments to the Consideration and allocations required under Section 2.10(g). The amount of any indemnified Claim
under this Article 11 shall take into account (i) any amounts actually recovered by the Indemnified Party pursuant to any indemnification by, or indemnification agreement with, any third party, (ii) any insurance proceeds or
other cash receipts or sources of reimbursement actually collected by the Indemnified Party in connection with the Claim, (iii) any Tax benefits actually realized or realizable in the year of the loss or the following taxable year by the
Indemnified Party in connection with such Claims and the recovery thereof and (iv) any Tax costs actually incurred or 

  
 -88- 

 
to be incurred in the year of receipt of the indemnity payment hereunder or the following taxable year by the Indemnified Party in connection with such Claims and the recovery thereof. Any amount
paid by the Indemnifying Party for an indemnified Claim that is in excess of the amount owed after applying the netting amounts described above shall be reimbursed promptly by the Indemnified Party. 

ARTICLE 12 

TERMINATION 

SECTION 12.1 Termination of Agreement. This Agreement may be terminated and the transactions
contemplated by this Agreement may be abandoned at any time prior to the Initial Closing Date: 
 (a) By mutual written
consent of AT&T and Acquiror; 
 (b) By AT&T or Acquiror, if the Initial Closing shall not have occurred on or prior
to April 16, 2014; provided that if the conditions to the Initial Closing set forth in Section 10.1, Section 10.2(e) or Section 10.3(f) have not been satisfied or waived by April 16, 2014 and all
other conditions to the Initial Closing set forth in Section 10.2 and Section 10.3 have been satisfied, waived or remain capable of satisfaction, either Party shall have the right to extend the Termination Date to
July 15, 2014 (such date as extended pursuant to this Section 12.1(b), the “Termination Date”); 

(c) By AT&T, if there has been a breach of or failure to perform any representation, warranty, covenant or agreement made
by Acquiror or the Tower Operator in this Agreement, or any such representation and warranty shall have become untrue after the date of this Agreement, such that the conditions set forth in Section 10.3(a) or Section 10.3(b)
would not be satisfied by the Termination Date and such breach or condition is not capable of being cured by the Termination Date or, if capable of being cured, shall not have been cured by the earlier of (i) 60 days after the delivery of
written notice of such breach or failure to perform and (ii) the Termination Date; provided, however, that the AT&T Parties, the AT&T Newcos and the Sale Site Subsidiaries may not terminate this Agreement pursuant to this
Section 12.1(c) if they are then in material breach of any of their covenants or representations or warranties under this Agreement in a manner which would cause the failure of a closing condition; 

(d) By Acquiror, if there has been a breach of or failure to perform any representation, warranty, covenant or agreement made
by the AT&T Parties, the AT&T Newcos or the Sale Site Subsidiaries in this Agreement, or any such representation and warranty shall have become untrue after the date of this Agreement, such that the conditions set forth in
Section 10.2(a) or Section 10.2(b) would not be satisfied by the Termination Date and such breach or condition is not capable of being cured by the Termination Date or, if capable of being cured, shall not have been cured by
the earlier of (i) 60 days after the delivery of written notice of such breach or failure to perform and (ii) the Termination Date; provided, however, that Acquiror and the Tower Operator may not terminate this Agreement
pursuant to this Section 12.1(d) if they are then in material breach of any of their covenants or representations or warranties under this Agreement in a manner that would cause the failure of a closing condition; or 

  
 -89- 

 (e) By either AT&T or Acquiror, if any permanent injunction, decree or
judgment of any Governmental Authority preventing consummation of the transactions contemplated by this Agreement and the Collateral Agreements shall have become final and nonappealable or any Law shall make consummation of the transactions
contemplated by this Agreement and the Collateral Agreements illegal or otherwise prohibited. 
 SECTION 12.2
Effect of Termination. If terminated pursuant to Section 12.1, this Agreement shall terminate and become null and void and have no effect, without any liability on the part of any Party or its Affiliates, directors,
officers or stockholders, except that: (i) Section 5.10, Section 7.6, the fourth and fifth sentences of Section 9.1(a), Section 9.5, Section 9.6, Section 9.14(a),
Section 9.14(b) (in so far as it relates to information relating to this Agreement, the Collateral Agreements or the transactions contemplated hereby), the second sentence of Section 9.15(a), this Article 12 and
Article 13 shall survive any termination and (ii) any provisions not covered by clause (i) requiring the payment or reimbursement of any costs or expenses relating to, or incurred during, the period from the date of this Agreement
to the Initial Closing Date shall survive any termination until paid in full; provided, however, that except as expressly provided herein, no such termination shall relieve any Party from liability for Willful and Intentional Breach of
this Agreement by such Party prior to such termination or fraud. With respect to the provisions that expressly survive termination, each of Acquiror and the AT&T Parties shall be entitled to pursue any and all rights and remedies to which it or
they may be entitled at Law or in equity. 
 ARTICLE 13 

MISCELLANEOUS 

SECTION 13.1 Counterparts. This Agreement may be executed in any number of counterparts, each such
counterpart being deemed to be an original instrument, and all such counterparts shall together constitute the same agreement. 

SECTION 13.2 Governing Law; Submission to Jurisdiction; Selection of Forum; Waiver of Trial by Jury.

 (a) THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (INCLUDING
SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW) AS TO ALL MATTERS, INCLUDING MATTERS OF VALIDITY, CONSTRUCTION, EFFECT, PERFORMANCE AND REMEDIES. Each Party agrees that it shall bring any action or proceeding in respect of any claim
arising out of or related to this Agreement or the transactions contained in or contemplated by this Agreement (including any action or proceeding against any Debt Financing Source arising out of or relating to this Agreement or the transactions
contemplated hereby) exclusively in the United States District Court for the Southern District of New York or any New York State court sitting in the Borough of Manhattan, City of New York and appellate courts having jurisdiction of appeals from any
of the foregoing (the “Chosen Courts”), and, solely in connection with claims arising under this Agreement or the transactions that are the subject of this Agreement, (a) irrevocably submits to the exclusive jurisdiction
of the Chosen Courts, (b) waives any objection to laying venue in any such action or proceeding in the 

  
 -90- 

 
Chosen Courts, (c) waives any objection that the Chosen Courts are an inconvenient forum or do not have jurisdiction over any Party hereto and (d) agrees that service of process upon
such Party in any such action or proceeding shall be effective if notice is given in accordance with Section 13.5 of this Agreement. Each Party hereto irrevocably waives any and all right to trial by jury in any legal proceeding arising
out of or relating to this Agreement or the transactions contemplated hereby (including any legal proceeding against any Debt Financing Source arising out of or relating to this Agreement or the transactions contemplated hereby). 

(b) For the avoidance of doubt, the provisions of Sections 4.5 and 4.6 of this Agreement are intended to
supersede the application to this Agreement of Section 5-1311 of the New York General Obligations Law and any similar provision of Law in any other jurisdiction that establishes a default rule for the allocation of risk of loss following a
casualty or condemnation. 
 SECTION 13.3 Entire Agreement. This Agreement (including any exhibits
hereto), the AT&T Disclosure Letter, the Acquiror Disclosure Letter and the Collateral Agreements constitute the entire agreement between the Parties with respect to the subject matter of this Agreement, and supersede all other prior agreements,
understandings, representations and warranties both written and oral, among the Parties, with respect to the subject matter hereof. 

SECTION 13.4 Fees and Expenses. Except as otherwise expressly set forth in this Agreement, whether
the transactions contemplated by this Agreement are or are not consummated, all legal and other costs and expenses incurred in connection with this Agreement and the transactions contemplated by this Agreement shall be paid by the Party incurring
such costs and expenses. 
 SECTION 13.5 Notices. All notices, requests, demands, waivers and
other communications required or permitted under this Agreement shall be in writing and shall be deemed to have been delivered (i) the next Business Day when sent overnight by a nationally recognized overnight courier service, (ii) upon
transmission of an e-mail (followed by delivery of an original via nationally recognized overnight courier service), or (iii) upon delivery when personally delivered to the receiving Party. All such notices and communications shall be sent or
delivered as set forth below or to such other person(s), e-mail address or address(es) as the receiving Party may have designated by written notice to the other Party. All notices delivered by any AT&T Party shall be deemed to have been
delivered on behalf of the AT&T Parties and the AT&T Newcos. All notices shall be delivered to the relevant Party at the address set forth below: 

If to the AT&T Parties, the AT&T Newcos or, prior to the Initial Closing, the Sale Site Subsidiaries, to: 

AT&T 

One AT&T Plaza 

208 South Akard Street, Suite 3702 

Dallas, Texas 75202 

Attention: D. Wayne Watts 

E-mail address: wayne.watts@att.com 

  
 -91- 

 and 
  

			
	 Sullivan & Cromwell LLP

125 Broad Street
 New York, New
York 10004

	 Attention:
	  	 Arthur S. Adler

		  	 Anthony J. Colletta

			
	 E-mail address:
	  	 adlera@sullcrom.com

		  	 collettaa@sullcrom.com

 Sullivan & Cromwell LLP 

1888 Century Park East, Suite 2100 

Los Angeles, California 90067 

Attention: Eric M. Krautheimer 

E-mail address: krautheimere@sullcrom.com 

All notices delivered by Acquiror shall be deemed to have been delivered on behalf of Acquiror or the Tower Operator. All
notices shall be delivered to the relevant Party at the address set forth below: 
 If to Acquiror, Tower Operator or, after
the Initial Closing, the Sale Site Subsidiaries, to: 
 Crown Castle International Corp. 

1220 Augusta Drive, Suite 600 

Houston, Texas 77057 

Attention: CFO (Jay Brown) 

E-mail Address: jay.brown@crowncastle.com 

Attention: General Counsel (E. Blake Hawk) 

E-Mail Address: blake.hawk@crowncastle.com 

and 

Cravath, Swaine & Moore LLP 

825 8th Avenue 

New York, New York 10019 

			
	 Attention:
	  	 Stephen L. Burns

		  	 Erik R. Tavzel

		  	 Johnny G. Skumpija

			
	 E-mail address:
	  	 sburns@cravath.com

		  	 etavzel@cravath.com

		  	 jskumpija@cravath.com

 SECTION 13.6 Assignment; Successors and Assigns; Third Party
Beneficiaries. This Agreement shall not be assignable (a) by any AT&T Party, AT&T Newco or, prior to the Initial Closing, any Sale Site Subsidiary without the express prior written consent of Acquiror or (b) by Acquiror,
the Tower Operator or, after the Initial Closing, any Sale Site Subsidiary without the express prior written consent of AT&T, and any such assignment in violation of the foregoing shall be null and void; provided, however, that
(i) each Party may assign all of its 

  
 -92- 

 
rights and remedies (but none of its obligations) under this Agreement to one or more Subsidiaries of Acquiror (in the case of any assignment by Acquiror, the Tower Operator or, after the Initial
Closing, the Sale Site Subsidiaries) or Subsidiaries of AT&T (in the case of any assignment by the AT&T Parties, AT&T Newco or, prior to the Initial Closing, the Sale Site Subsidiaries), including any special purpose entity formed in
connection with the transactions contemplated by this Agreement and (ii) Acquiror, the Tower Operator or, after the Initial Closing, any Sale Site Subsidiary may assign all or any portion of their rights hereunder for collateral security
purposes to their Debt Financing Sources pursuant to customary written documentation reasonably satisfactory to the AT&T Parties. This Agreement shall be binding upon and inure to the benefit of each Party and its successors, heirs, legal
representatives and permitted assigns. Except as provided in Article 11, this Agreement is not intended to confer upon any Person other than the Parties any rights or remedies hereunder; provided, however, that the Debt
Financing Sources shall be third party beneficiaries of Section 13.2(a), Section 13.7 and this Section 13.6. 

SECTION 13.7 Amendment; Waivers; Etc. No amendment, modification or discharge of this Agreement, and
no waiver hereunder, shall be valid or binding unless set forth in writing and duly executed by the Party against which enforcement of the amendment, modification, discharge or waiver is sought. Any such waiver shall constitute a waiver only with
respect to the specific matter described in such writing and shall in no way impair the rights of the Party granting such waiver in any other respect or at any other time. The waiver by a Party of a breach of or a default under any of the provisions
of this Agreement or to exercise any right or privilege hereunder, shall not be construed as a waiver of any other breach or default of a similar nature, or as a waiver of any of such provisions, rights or privileges hereunder. The rights and
remedies herein provided are cumulative and none is exclusive of any other, or of any rights or remedies that any party may otherwise have at law or in equity. Notwithstanding anything to the contrary contained in this Agreement,
Section 11.7(b), Section 13.2(a), Section 13.6 and this Section 13.7 (and any provision of this Agreement to the extent an amendment, modification, waiver or termination thereof would amend or
modify the substance of any of the foregoing provisions), any amendment, modification, waiver or termination of this Agreement that is not materially adverse to the Debt Financing Sources will be applicable to the Debt Financing Sources. 

SECTION 13.8 Time of Essence. Time is of the essence in this Agreement, and whenever a date or time
is set forth in this Agreement, the same has entered into and formed a part of the consideration for this Agreement. 

SECTION 13.9 Specific Performance. The Parties agree that irreparable damage would occur if any
provision of this Agreement were not performed in accordance with the terms hereof and that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement or to enforce specifically the performance of the terms
and provisions hereof in any of the Chosen Courts to the extent permitted by applicable Law, in addition to any other remedy to which they are entitled at law or in equity. Each Party hereby waives any requirement for security or the posting of any
bond or other surety in connection with any temporary or permanent award of injunctive, mandatory or other equitable relief. 

  
 -93- 

 SECTION 13.10 Severability. If any term or other
provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of Law or public policy, the Parties hereto shall negotiate in good faith to modify this Agreement so as to (i) effect the original intent of the Parties
as closely as possible and (ii) to ensure that the economic and legal substance of the transactions contemplated by this Agreement to the Parties is not materially and adversely affected as a result of such provision being invalid, illegal or
incapable of being enforced, in each case, in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible. If following the modification(s) to this
Agreement described in the foregoing sentence, the economic and legal substance of the transactions contemplated by this Agreement are not affected in any manner materially adverse to any Party, all other conditions and provisions of this Agreement
shall remain in full force and effect. 
 SECTION 13.11 Interpretation. 

(a) The table of contents and headings herein are for convenience of reference only, do not constitute part of this Agreement
and shall not be deemed to limit or otherwise affect any of the provisions hereof. 
 (b) The Parties have participated
jointly in negotiating and drafting this Agreement. In the event that an ambiguity or a question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties, and no presumption or burden of proof shall
arise favoring or disfavoring any Party by virtue of the authorship of any provision of this Agreement. 

  
 -94- 

 SIGNATURE PAGE 

IN WITNESS WHEREOF, this Agreement has been signed by or on behalf of each of the Parties as of the day first above written.

  

									
		 		 		 	 AT&T INC.

					
		 		 		 	By:	 	 /s/ Peter Knag

		 		 		 	Name:	 	Peter Knag
		 		 		 	Title:	 	Managing Director
				
		 		 		 	CROWN CASTLE INTERNATIONAL CORP.
					
		 		 		 	By:	 	 /s/ Jay A. Brown

		 		 		 	Name:	 	Jay A. Brown
		 		 		 	Title:	 	Senior Vice President, Chief Financial Officer and Treasurer

 [Signature Page to Master Agreement]EX-10.2

 Exhibit 10.2 

[FORM OF] 
 MASTER
PREPAID LEASE 
 BY AND AMONG 

[AT&T NEWCOS], 

AT&T MOBILITY LLC 

AND 
 [TOWER OPERATOR]

 Dated as of [            ], 2013 

 Table of Contents 

 

							
	 	 	 	  	Page	 
			
	 SECTION 1.
	 	 Definitions
	  	 	1	  
	 SECTION 2.
	 	 Documents; Operating Principles
	  	 	20	  
	 SECTION 3.
	 	 Tower Operator Lease of Lease Site and Occupancy Rights With Respect to Managed Sites
	  	 	21	  
	 SECTION 4.
	 	 Tower Operator Rights and Obligations Under the Ground Leases
	  	 	24	  
	 SECTION 5.
	 	 AT&T Lessor Rights and Obligations With Respect to the Ground Leases
	  	 	29	  
	 SECTION 6.
	 	 Collocation Agreements with Third Parties
	  	 	30	  
	 SECTION 7.
	 	 Tower Operator Permitted Use
	  	 	31	  
	 SECTION 8.
	 	 Tower Operator Access
	  	 	32	  
	 SECTION 9.
	 	 Term and End of Term Obligations
	  	 	32	  
	 SECTION 10.
	 	 Tower Operator Rent and Pre-Lease Rent; Treatment for US Federal Income Tax Purposes
	  	 	34	  
	 SECTION 11.
	 	 Condition of the Sites and Obligations of Tower Operator
	  	 	36	  
	 SECTION 12.
	 	 Tower Operator Requirements for Modifications; Title to Modifications; Work on the Site
	  	 	37	  
	 SECTION 13.
	 	 Tower Operator’s Obligations With Respect to Tower Subtenants
	  	 	38	  
	 SECTION 14.
	 	 Limitations on Liens
	  	 	39	  
	 SECTION 15.
	 	 Tower Operator Indemnity; AT&T Lessor Indemnity; Procedure For All Indemnity Claims
	  	 	40	  
	 SECTION 16.
	 	 Tower Operator’s Waiver of Subrogation; Insurance
	  	 	44	  
	 SECTION 17.
	 	 Estoppel Certificate; AT&T Lessor Financial Reporting
	  	 	46	  
	 SECTION 18.
	 	 Assignment, Transfer and Subletting Rights
	  	 	47	  
	 SECTION 19.
	 	 Tower Operator Environmental Covenants
	  	 	49	  
	 SECTION 20.
	 	 Tower Operator Purchase Option
	  	 	50	  
	 SECTION 21.
	 	 Tower Operator Lender Protections
	  	 	54	  
	 SECTION 22.
	 	 Taxes; Fees
	  	 	58	  
	 SECTION 23.
	 	 Utilities
	  	 	60	  
	 SECTION 24.
	 	 Compliance with Law; Governmental Permits
	  	 	60	  
	 SECTION 25.
	 	 Compliance with Specific FCC Regulations
	  	 	63	  
	 SECTION 26.
	 	 Holding Over
	  	 	64	  
	 SECTION 27.
	 	 Rights of Entry and Inspection
	  	 	64	  
	 SECTION 28.
	 	 Right to Act for Tower Operator
	  	 	64	  
	 SECTION 29.
	 	 Defaults and Remedies
	  	 	65	  
	 SECTION 30.
	 	 Quiet Enjoyment
	  	 	70	  
	 SECTION 31.
	 	 No Merger
	  	 	70	  
	 SECTION 32.
	 	 Broker and Commission
	  	 	70	  
	 SECTION 33.
	 	 Recording of Memorandum of Site Lease Agreement; Bifurcation of Site
	  	 	70	  
	 SECTION 34.
	 	 Tax Indemnities
	  	 	71	  
	 SECTION 35.
	 	 Damage to the Site, Tower or the Improvements
	  	 	82	  
	 SECTION 36.
	 	 Condemnation
	  	 	83	  
	 SECTION 37.
	 	 General Provisions
	  	 	84	  
	 SECTION 38.
	 	 AT&T Guarantor Guarantee
	  	 	87	  
	 SECTION 39.
	 	 AT&T Parent Affiliate License
	  	 	89	  

  
 -i- 

			
	 Exhibit A
	  	 List of Sites1

	 Exhibit B
	  	 List of Lease Sites2

	 Exhibit C
	  	 Rent and Pre-Lease Rent

	 Exhibit D
	  	 Allocated Rent

	 Exhibit E
	  	 Option Purchase Price

	 Exhibit F
	  	 Form of UCC-1

	 Exhibit G
	  	 Form of Memorandum of Lease/Managed Sites

	 Exhibit H
	  	 Form of Memorandum of Assignment

	 Exhibit I
	  	 Reserved

	 Exhibit J
	  	 Certain AT&T Collocator Competitors

	 Exhibit K
	  	 Form of Power of Attorney

		
	 Schedule 1-A3
	  	 19 Year Lease Sites

	 Schedule 1-B
	  	 20 Year Lease Sites

	 Schedule 1-C
	  	 21 Year Lease Sites

	 Schedule 1-D
	  	 22 Year Lease Sites

	 Schedule 1-E
	  	 23 Year Lease Sites

	 Schedule 1-F
	  	 24 Year Lease Sites

	 Schedule 1-G
	  	 25 Year Lease Sites

	 Schedule 1-H
	  	 26 Year Lease Sites

	 Schedule 1-I
	  	 27 Year Lease Sites

	 Schedule 1-J
	  	 28 Year Lease Sites

	 Schedule 1-K
	  	 29 Year Lease Sites

	 Schedule 1-L
	  	 30 Year Lease Sites

	 Schedule 1-M
	  	 31 Year Lease Sites

	 Schedule 1-N
	  	 32 Year Lease Sites

	 Schedule 1-O
	  	 33 Year Lease Sites

	 Schedule 1-P
	  	 34 Year Lease Sites

	 Schedule 1-Q
	  	 35 Year Lease Sites

	 Schedule 5(d)
	  	 Ground Lease Extension Terms

  

	1 	 At the Effective Date, Exhibit A shall include all “MPL Sites” under and as defined in the Master Agreement as of the Initial Closing
under the Master Agreement. 

	2 	 At the Effective Date, Exhibit B shall include all “MPL Sites” that are “Lease Sites”, in each case under and as defined in the
Master Agreement as of the Initial Closing under the Master Agreement. 

	3 	 At the Effective Date, Schedules 1-A through 1-Q shall collectively include all “MPL Sites” under and as defined in the Master Agreement
as of the Initial Closing under the Master Agreement. 

  
 -ii- 

 MASTER PREPAID LEASE 

THIS MASTER PREPAID LEASE (this “Agreement”) is entered into this
[            ] day of [            ], 2013 (the “Effective Date”), by and among
[            ], each a Delaware limited liability company (each, an “AT&T Lessor” and, collectively, the “AT&T Lessors”), AT&T MOBILITY
LLC, a Delaware limited liability company, as AT&T Guarantor, and             , a              (“Tower
Operator”). AT&T Lessors, AT&T Guarantor and Tower Operator are sometimes individually referred to in this Agreement as a “Party” and collectively as the “Parties”. 

RECITALS: 
 A.
Certain Affiliates of the AT&T Guarantor operate the Sites, which include Towers and related equipment, and such Affiliates either own, ground lease or otherwise have an interest in the land on which such Towers are located; 

B. Tower Operator desires to lease and operate the Sites; 

C. Tower Operator intends on marketing all available capacity at the Sites and maximizing the collocation revenue that may be
derived therefrom; 
 D. The obligations set forth in this Agreement are interrelated and required in order for Tower
Operator to lease or operate the Sites; and 
 E. Simultaneously herewith, the Parties and certain Affiliates thereof are
entering into the MPL Site MLA pursuant to which AT&T Collocator, an Affiliate of the AT&T Lessors and AT&T Guarantor, is leasing the AT&T Collocation Space from Tower Operator at the Sites. 

NOW, THEREFORE, the Parties agree as follows: 

SECTION 1. Definitions. 

(a) Certain Defined Terms. In addition to the terms defined elsewhere in this Agreement, the following terms shall have
the following respective meanings when used herein with initial capital letters: 
 “Affiliate” (and, with
a correlative meaning, “Affiliated”) means, with respect to any Person, any other Person that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such Person. As
used in this definition, “control” means the beneficial ownership (as such term is defined in Rules 13d-3 and 13d-5 of the Securities Exchange Act of 1934, as amended) of 50% or more of the voting interests of the Person. 

“Agreement” has the meaning set forth in the preamble and includes all subsequent modifications and
amendments hereof. References to this Agreement in respect of a particular Site shall include the Site Lease Agreement therefor; and references to this Agreement in general and as applied to all Sites shall include all Site Lease Agreements. 

 “Assumption Requirements” means, with respect to any assignment
by Tower Operator or any AT&T Lessor of this Agreement (the “assigning party”), that (i) the applicable assignee has creditworthiness, or a guarantor with creditworthiness, reasonably sufficient to perform the obligations
of the assigning party under this Agreement or that the assigning party remains liable for such obligations notwithstanding such assignment and (ii) the assignee assumes and agrees to perform all of the obligations of the assigning party
hereunder. 
 “AT&T” means AT&T Parent and Affiliates thereof that are parties to the Master
Agreement. 
 “AT&T Collocator Competitor” means any Person principally in the business of providing
wireline local exchange carrier or wireless services (including, without limitation, each of the Persons listed under the heading “AT&T Collocator Competitors” on Exhibit J), and any of such Person’s Affiliates. 

“AT&T Communications Equipment” means any Communications Equipment at a Site owned or leased and used
exclusively (subject to Section 9(b) of the MPL Site MLA) by one or more of AT&T Collocator and any Wholly Owned Affiliate. 

“AT&T Ground Lease Party” means each AT&T Group Member that, at any applicable time during the Term
of this Agreement, has not yet contributed its right, title and interest in the Included Property of a Managed Site to the applicable AT&T Lessor pursuant to the Master Agreement. 

“AT&T Group” means, collectively, AT&T Parent and its Affiliates (including each AT&T Lessor,
each AT&T Ground Lease Party and AT&T Collocator whose names are set forth in the signature pages of the MPL Site MLA or any Site Lease Agreement or the Master Agreement and any Affiliate of AT&T Parent that at any time becomes a
“sublessee” under the MPL Site MLA in accordance with the provisions of such MPL Site MLA). Solely for purposes of Section 34, the term “AT&T Group” shall include each AT&T Group Member, the Affiliated group of
corporations and each member of such group within the meaning of Code Section 1504 of which any AT&T Group Member is or shall become a member if such group shall have filed a consolidated return; if applicable, each member in any entity
classified as a partnership for federal income Tax purposes and such entity itself if and to the extent such entity is treated as the Tax owner of any of the Sites or portions of the Sites or such entity is a direct or indirect partner in another
entity classified as a partnership which is so treated (in either case, an “AT&T Partnership”); and, if applicable, any entity owned by an AT&T Group Member or AT&T Partnership that for federal income Tax purposes is
disregarded as an entity separate from its owner. 
 “AT&T Group Member” means each member of the
AT&T Group. 
 “AT&T Guarantor” means AT&T Mobility LLC, a Delaware limited liability company,
and its permitted successors and assigns (to the extent permitted or required hereunder). 
 “AT&T
Improvements” means any Improvements located at a Site that support, shelter, protect, enclose or provide power or back-up power to AT&T Communications 

  
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Equipment (other than a Tower), but excluding any Modification added by Tower Operator in accordance with Section 12. All utility connections that provide service to AT&T Communications
Equipment, including those providing access and backhaul services, and all Improvements or other assets used in connection with any switching or wireline business of any AT&T Group Member (including any mobile telephone switching office and the
switching and related equipment located at a Site), or any other Improvements owned by AT&T Collocator or any Wholly Owned Affiliate and not used in connection with the Collocation Operations, shall be deemed AT&T Improvements. 

“AT&T Indemnitee” means each AT&T Lessor, each AT&T Ground Lease Party and AT&T Collocator
and their respective Affiliates, directors, officers, employees, agents and representatives (except Tower Operator and its Affiliates and any agents of Tower Operator or its Affiliates). 

“AT&T Parent” means AT&T Inc., a Delaware corporation. 

“Available Space” means, as to any Site, the portion of the Tower and Land not constituting AT&T
Collocation Space that is available for lease to or collocation by any Tower Subtenant and all rights appurtenant to such portion, space or area. 

“Award” means any amounts paid, recovered or recoverable as damages, compensation or proceeds by reason of
any Taking, including all amounts paid pursuant to any agreement with any Person which was made in settlement or under threat of any such Taking, less the reasonable costs and expenses incurred in collecting such amounts. 

“Bankruptcy Code” means Title 11 of the United States Code as amended from time to time, including any
successor legislation thereto. 
 “Bankruptcy Event” means, as to any Person, the filing of any voluntary
petition under federal or state bankruptcy or insolvency laws on behalf of such Person; the filing of any involuntary petition under federal or state bankruptcy or insolvency laws against such Person and the failure of such Person to promptly obtain
dismissal of that filing or the continuation of the resulting proceeding for sixty (60) days or more, or any consent of such Person to such proceeding; the filing of any petition seeking, or consenting to, reorganization or relief under any
applicable federal or state law relating to bankruptcy or insolvency of such Person; the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of such Person or a substantial part of such Person or its
property; the making of any assignment for the benefit of creditors of such Person; the admission in writing of such Person’s inability to pay its debts generally as they become due; or the taking of any action in furtherance of any of the
foregoing actions. 
 “Business Day” means any day other than a Saturday, a Sunday, a federal holiday or
any other day on which banks in New York City are authorized or obligated by Law to close. 
 “Cables”
means co-axial cabling, electrical power cabling, ethernet cabling, fiber-optic cabling or any other cabling or wiring necessary for operating Communications Equipment together with any associated conduit piping necessary to encase or protect any
such cabling. 

  
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 “Claims” means any claims, demands, assessments, actions, suits,
damages, obligations, fines, penalties, liabilities, losses, adjustments, costs and expenses (including reasonable fees and expenses of attorneys and other appropriate professional advisers). 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Collateral Agreements” means the following documents entered into on the Effective Date: (i) the
Management Agreement, (ii) the Tower Operator General Assignment and Assumption Agreement and (iii) the Transition Services Agreement. 

“Collocation Agreement” means an agreement between an AT&T Group Member (prior to the Effective Date) or
Tower Operator (on or after the Effective Date), on the one hand, and a third party (provided that if such agreement is with an AT&T Group Member, such third party is not an Affiliate of such AT&T Group Member on the Effective Date),
on the other hand, pursuant to which such AT&T Group Member or Tower Operator, as applicable, rents or licenses to such third party space at any Site (including space on a Tower), including all amendments, modifications, supplements, assignments
and guaranties related thereto (it being understood that in the case of a master collocation agreement, the Collocation Agreement shall be the applicable site lease agreement (including any rights, interests and provisions incorporated therein)).
For clarity, utility and power-sharing agreements between an AT&T Group Member and a third party are not Collocation Agreements. 

“Communications Equipment” means, as to any Site, all equipment installed at (i) the AT&T
Collocation Space by or with respect to any AT&T Collocator or any Wholly Owned Affiliate and (ii) any other portion of the Site with respect to a Tower Subtenant, for the provision of current or future communication services, including
voice, video, internet and other data services, which shall include switches, antennas, including microwave antennas, panels, conduits, flexible transmission lines, Cables, radios, amplifiers, filters, interconnect transmission equipment and all
associated software and hardware, and will include any modifications, replacements and upgrades to such equipment. 

“Emergency” means any event that causes, has caused or is reasonably likely to imminently cause (i) any
bodily injury, personal injury or material property damage, (ii) the suspension, revocation, termination or any other material adverse effect as to any Governmental Approvals reasonably necessary for the use or operation of Communications
Equipment or a Site, (iii) any material adverse effect on the ability of AT&T Collocator, or any Tower Subtenant, to operate Communications Equipment at any Site, (iv) any failure of any Site to comply in any material respect with
applicable FCC or FAA regulations or other licensing requirements or (v) the termination of a Ground Lease. 

“Environmental Law” or “Environmental Laws” means any federal, state or local statute, Law,
ordinance, code, rule, regulation, order or decree regulating, relating to or imposing liability or standards of conduct concerning protection of the environment or public or workplace health and safety as may now or at any time hereafter be in
effect, including the following, as the same may be amended or replaced from time to time, and all regulations promulgated under or in connection therewith: the Superfund Amendments and Reauthorization Act of 1986; the Comprehensive Environmental
Response, Compensation, and Liability Act of 1980; the Clean 

  
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Air Act; the Clean Water Act; the Toxic Substances Control Act of 1976; the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act; the Hazardous Materials
Transportation Act; and the Occupational Safety and Health Act of 1970. 
 “Excluded Equipment” means
(i) any AT&T Communications Equipment or AT&T Improvements and (ii) any Tower Subtenant Communications Equipment or Tower Subtenant Improvements. 

“Excluded Purchase Sites” means, collectively, (i) any Site with respect to which the applicable Ground
Lease has previously expired or been terminated and not replaced and the applicable AT&T Lessor or Tower Operator has not otherwise secured the long term tenure of such Site or (ii) any Site that Tower Operator or its Affiliate or designee
has previously purchased from the applicable AT&T Lessor or its Affiliates. 
 “FAA” means the United
States Federal Aviation Administration or any successor federal Governmental Authority performing a similar function. 

“FCC” means the United States Federal Communications Commission or any successor Governmental Authority
performing a similar function. 
 “Federal Income Tax Benefits” means the Federal Depreciation Deductions
and the federal income Tax deductions described in Section 34(a)(i). 
 “Final Determination” shall
mean (i)(A) a decision, judgment, decree or other order by any court of competent jurisdiction, which decision, judgment, decree or other order has become final after all appeals allowable by law and under this Agreement by either party to the
action have been exhausted or the time for filing such appeals has expired or (B) in any case involving United States Federal income taxes where judicial review shall at the time be unavailable because the proposed adjustment involves a
decrease in net operating loss carryforwards or business credit carryforwards, a decision, judgment, decree or other order of an administrative official or agency of competent jurisdiction, which decision, judgment, decree or other order has become
final (i.e., where all administrative appeals have been exhausted by all parties thereto), (ii) a closing agreement entered into under Section 7121 of the Code or any other settlement agreement entered into in connection with an
administrative or judicial proceeding, (iii) the expiration of the time for instituting suit with respect to the claimed deficiency or (iv) the expiration of the time for instituting a claim for refund or, if such a claim was filed, the
expiration of the time for instituting suit with respect thereto. 
 “Force Majeure” means strike, riot,
act of God (including, but not limited to, wind, lightning, rain, ice, earthquake, floods, or rising water), nationwide shortages of labor or materials, war, civil disturbance, act of the public enemy, explosion, aircraft or vehicle damage, natural
disaster, governmental Laws, regulations, orders or restrictions. 
 “Governmental Approvals” means all
licenses, permits, franchises, certifications, waivers, variances, registrations, consents, approvals, qualifications, determinations and other authorizations to, from or with any Governmental Authority. 

  
 -5- 

 “Governmental Authority” means, with respect to any Person or
any Site, any foreign, domestic, federal, territorial, state, tribal or local governmental authority, administrative body, quasi-governmental authority, court, government or self-regulatory organization, commission, board, administrative hearing
body, arbitration panel, tribunal or any regulatory, administrative or other agency, or any political or other subdivision, department or branch of any of the foregoing, in each case having jurisdiction over such Person or such Site. 

“Ground Lease” means, as to any Site, the ground lease, sublease, or any easement, license or other agreement
or document pursuant to which an AT&T Lessor or an AT&T Ground Lease Party holds a leasehold or subleasehold interest, leasehold or subleasehold estate, easement, license, sublicense or other interest in such Site, together with any
extensions of the term thereof (whether by exercise of any right or option contained therein or by execution of a new ground lease or other instrument providing for the use of such Site), and including all amendments, modifications, supplements,
assignments and guarantees related thereto. 
 “Ground Lessor” means, as to any Site, the
“lessor,” “sublessor,” “landlord,” “licensor,” “sublicensor” or similar Person under the related Ground Lease. 

“Ground Rent” means, as to any Site, all rents, fees and other charges payable to the Ground Lessor under the
Ground Lease for such Site. 
 “Hazardous Material” or “Hazardous Materials” means and
includes petroleum products, flammable explosives, radioactive materials, asbestos or any material containing asbestos, polychlorinated biphenyls or any hazardous, toxic or dangerous waste, substance or material, in each case, defined as such (or
any similar term) or regulated by, in or for the purposes of Environmental Laws, including Section 101(14) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980. 

“Improvements” means, as to each Site, (i) one or more equipment pads or raised platforms capable of
accommodating exterior cabinets or Shelters, huts or buildings, electrical service and access for the placement and servicing of AT&T Collocator’s and, if applicable, each Tower Subtenant’s Improvements; (ii) batteries, generators
and associated fuel tanks or any other substances, products, materials or equipment used to provide backup power; (iii) grounding rings; (iv) fencing; (v) signage; (vi) connections for telephone service or utility service up to
the meter; (vii) hardware constituting a Tower platform to hold AT&T Collocator’s and, if applicable, each Tower Subtenant’s Communications Equipment; (viii) access road improvements; (ix) Shelters; (x) all
marking/lighting systems and light monitoring devices; and (xi) such other equipment, alterations, replacements, modifications, additions and improvements as may be installed on or made to all or any component of a Site (including the Land and
the Tower). For clarity, Improvements do not include Communications Equipment. 
 “Included Property”
means, with respect to each Site, (i) the Land related to such Site (including the applicable interest in any Ground Lease), (ii) the Tower located on such Site (including the AT&T Collocation Space) and (iii) the related
Improvements (excluding AT&T Improvements and any Tower Subtenant Improvements) and the Tower Related Assets with respect to such Site; but excluding, in each case of (i), (ii) and (iii), any Excluded Asset and all Tower Subtenant
Communications Equipment. 

  
 -6- 

 “Inclusion” means the inclusion in the gross income of any
AT&T Group Member of any amount in connection with the transactions effected by this Agreement or related documents other than the amounts described in Section 34(a)(i)(D). 

“Indemnified Party” means an AT&T Indemnitee or a Tower Operator Indemnitee, as the case may be. 

“Initial Lease Sites” means the Sites subject to this Agreement as of the Effective Date, a list of which are
set forth on Exhibit B hereto. 
 “Land” means, with respect to each Site, the tracts, pieces or parcels of
land constituting such Site, together with all easements, rights of way and other rights appurtenant thereto. 

“Law” means any law, statute, common law, rule, code, regulation, ordinance or Order of, or issued by, any
Governmental Authority. 
 “Lease Site” means the (i) Initial Lease Sites and (ii) any Managed
Site subject to this Agreement which is converted to a Lease Site pursuant to a Subsequent Closing. 

“Liens” means, with respect to any asset, any mortgage, lien, pledge, security interest, charge, attachment
or encumbrance of any kind in respect of such asset. 
 “Managed Site” means, for purposes of this
Agreement and until any such Site is converted to a Lease Site as provided herein, each Site that is identified on Exhibit A, but is not identified as a Lease Site on Exhibit B and is therefore subject to this Agreement as a Managed Site as of the
Effective Date, until such Site is converted to a Lease Site as provided herein. Managed Sites include all Non-Contributable Sites and all Pre-Lease Sites which have not yet been converted to Lease Sites. 

“Master Agreement” means the Master Agreement, dated as of October 18, 2013, by and among Crown Castle
International Corp., AT&T Parent, Tower Operator and the AT&T Lessors. 
 “Modifications” means the
construction or installation of Improvements on any Site or any part of any Site after the Effective Date, or the alteration, replacement, modification or addition to any Improvement on any Site after the Effective Date, whether Severable or
Non-Severable. 
 “Mortgage” means, as to any Site, any mortgage, deed to secure debt, deed of trust, trust
deed or other conveyance of, or similar encumbrance against, the right, title and interest of a Party in and to the Land, Tower and Improvements on such Site as security for any debt, whether now existing or hereafter arising or created. 

“Mortgagee” means, as to any Site, the holder of any Mortgage, together with the heirs, legal
representatives, successors, transferees and assignees of the holder. 

  
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 “MPL Site MLA” means that certain MPL Site Master Lease
Agreement, dated of even date herewith, by and among Tower Operator, AT&T Collocator and AT&T Guarantor. 

“Non-Contributable Site” means any Site that is not a Contributable Site. 

“Non-Restorable Site” means a Site that has suffered a casualty that damages or destroys all or a Substantial
Portion of such Site, or a Site that constitutes a non-conforming use under applicable Zoning Laws prior to such casualty, in either case such that either (i) Zoning Laws would not allow Tower Operator to rebuild a comparable replacement Tower
on the Site substantially similar to the Tower damaged or destroyed by the casualty or (ii) Restoration of such Site under applicable Zoning Law, using commercially reasonable efforts, in a period of time that would enable Restoration to be
commenced (and a building permit issued) within one year after the casualty, would not be possible or would require either (A) obtaining a change in the zoning classification of the Site under applicable Zoning Laws, (B) the filing and
prosecution of a lawsuit or other legal proceeding in a court of law or (C) obtaining a zoning variance, special use permit or any other permit or approval under applicable Zoning Laws that cannot reasonably be obtained by Tower Operator or
AT&T Lessors and AT&T Ground Lease Parties. 
 “Non-Severable” means, with respect to any
Modification, any Modification that is not a Severable Modification. 
 “Order” means an administrative,
judicial, or regulatory injunction, order, decree, judgment, sanction, award or writ of any nature of any Governmental Authority. 

“Permitted Use” means the use of the Sites for the ownership, operation, management, maintenance or leasing
(in whole or in part) of towers and other wireless infrastructure or any similar, related, complementary or ancillary use or use that constitutes a reasonable extension or expansion of the foregoing. 

“Person” means any individual, corporation, limited liability company, partnership, association, trust or any
other entity or organization, including a Governmental Authority. 
 “Post-Closing Liabilities” means all
Liabilities that relate to or arise out of or in connection with the operation, use or occupancy of the Transferred Property of the applicable Purchase Site after the Purchase Option Closing Date. For the avoidance of doubt, “Post-Closing
Liabilities” shall not include any Liabilities in connection with any Tower Bonds. 
 “Pre-Lease Rent”
means, as to any tranche of Managed Sites, the amount prepaid by Tower Operator, or any of its Affiliates on behalf of Tower Operator, to the applicable AT&T Lessor or and AT&T Ground Lease Party with respect to such tranche of Managed Sites
pursuant to this Agreement and as specified in Exhibit C. 
 “Prime Rate” means the rate of interest
reported in the “Money Rates” column or section of The Wall Street Journal (Eastern Edition) as being the prime rate on corporate loans of larger U.S. Money Center Banks, or if The Wall Street Journal is not in publication on the
applicable date, or ceases prior to the applicable date to publish such rate, then the rate being 

  
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published in any other publication acceptable to the AT&T Lessors and Tower Operator as being the prime rate on corporate loans from larger U.S. money center banks shall be used. 

“Proceeds” means all insurance moneys recovered or recoverable by any AT&T Lessor, AT&T Ground Lease
Party, Tower Operator or AT&T Collocator as compensation for casualty damage to any Site (including the Tower and Improvements of such Site). 

“Property Taxes” means, as to each Site, any and all of the following levies, assessed or imposed upon,
against or with respect to the Site, any part of the Site, or the use and occupancy of the Site at any time during the Term as to such Site (whether imposed directly by a Governmental Authority or indirectly through any other Persons, and including
any penalties, fines and interest related thereto): (i) real property and personal property ad valorem Taxes and assessments; (ii) charges made by any Governmental Authority for improvements or betterments related to the Site;
(iii) sanitary Taxes or charges, sewer or water Taxes or charges; and (iv) any other Tax imposed solely as a result of ownership of the Included Property similar to the Taxes described in (i) through (iii). 

“Rent” means, as to any tranche of Lease Sites, the amount prepaid by Tower Operator, or any of its
Affiliates on behalf of Tower Operator, to the applicable AT&T Lessor with respect to such tranche of Lease Sites pursuant to this Agreement and as specified in Exhibit C. 

“Rent Payment Period” means, as to each Site, the taxable period set forth in Exhibit C. 

“Restoration” means, as to a Site that has suffered casualty damage or is the subject of a Taking, such
restoration, repairs, replacements, rebuilding, changes and alterations, including the cost of temporary repairs for the protection of such Site, or any portion of such Site pending completion of action, required to restore the applicable Site
(including the Tower and Improvements on such Site but excluding any AT&T Communications Equipment or AT&T Improvements, the restoration of which shall be the sole cost and obligation of AT&T Collocator, and excluding any Tower Subtenant
Communications Equipment or Tower Subtenant Improvements, the restoration of which shall be the sole cost and obligation of such Tower Subtenant) to a condition that is at least as good as the condition that existed immediately prior to such damage
or Taking (as applicable), and such other changes or alterations as may be reasonably acceptable to AT&T Collocator and Tower Operator or required by Law. 

“Revenue Sharing” means any requirement under a Ground Lease to pay to Ground Lessor a share of the revenue
derived from, or an incremental payment triggered by, a sublease, license or other occupancy agreement at the Site subject to such Ground Lease. 

“Risk of Forfeiture” means, with respect to a Site, that any portion of such Site is subject to imminent
danger of loss or forfeiture, including by reason of a termination of the Ground Lease with respect to such Site. 

“Sale Site MLA” means the Sale Site Master Lease Agreement dated as of
            , 2013, among [Sale Site Subsidiaries], [AT&T Collocator] and AT&T Guarantor. 

  
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 “Secured Tower Operator Loan” means any loans, bonds, notes or
debt instruments secured by all or any portion of Tower Operator’s interest hereunder or with respect to any Site, including a collateral assignment of any rights of Tower Operator hereunder, under any Transaction Document or under any related
agreements or secured by the pledge of equity interests in Tower Operator. 
 “Severable” means, with
respect to any Modification, any Modification that can be readily removed from a Site or portion of such Site without damaging it in any material respect or without diminishing or impairing the value, utility, useful life or condition that the Site
or portion of such Site would have had if such Modification had not been made (assuming the Site or portion of such Site would have been in compliance with this Agreement without such Modification). For purposes of this Agreement, the addition or
removal of generators or similar systems used to provide power or back-up power at a Site shall be considered a Severable Modification. Notwithstanding the foregoing, a Modification shall not be considered Severable if such Modification is necessary
to render the Site or portion of such Site complete for its intended use by Tower Operator (other than Modifications consisting of ancillary items of Tower Operator Equipment of a kind customarily furnished by lessees or operators of property
comparable to the Site or portion of such Sites). 
 “Shelter” means a walk-in ground shelter for purposes
of housing Communications Equipment, heating, ventilation and air conditioning units, generators and other equipment related to the use and operation of Communications Equipment; provided that such structure is owned and used, and intended
for use, exclusively by one or more of AT&T Collocator and any Wholly Owned Affiliate. For the avoidance of doubt, “Shelters” shall not include equipment cabinets. 

“Site” means each parcel of Land subject to this Agreement from time to time, all of which are identified on
Exhibit A hereto, as such exhibit may be amended or supplemented as provided in this Agreement and the Master Agreement, and the Tower and Improvements located thereon. As used in this Agreement, reference to a Site includes Non-Severable
Modifications, but shall not include Severable Modifications, any AT&T Improvements, AT&T Communications Equipment, any Tower Subtenant Improvements or Tower Subtenant Communications Equipment. 

“Site Expiration Date” means, as to any Site, the sooner to occur of (A) if arrangements have not been
entered into to secure the tenure of the relevant Ground Lease pursuant to an extension, new Ground Lease or otherwise, one day prior to the expiration of the relevant Ground Lease (as the same may be amended, extended or renewed pursuant to the
terms of this Agreement), or (B) the applicable Site Expiration Outside Date. 
 “Site Expiration Outside
Date” means, (i) as to the 19 Year Lease Sites, the last Business Day of 2032, (ii) as to the 20 Year Lease Sites, the last Business Day of 2033, (iii) as to the 21 Year Lease Sites, the last Business Day of 2034,
(iv) as to the 22 Year Lease Sites, the last Business Day of 2035, (v) as to the 23 Year Lease Sites, the last Business Day of 2036, (vi) as to the 24 Year Lease Sites, the last Business Day of 2037, (vii) as to the 25 Year Lease
Sites, the last Business Day of 2038, (viii) as to the 26 Year Lease Sites, the last Business Day of 2039, (ix) as to the 27 Year Lease Sites, the last Business Day of 2040, (x) as to the 28 Year Lease

  
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Sites, the last Business Day of 2041, (xi) as to the 29 Year Lease Sites, the last Business Day of 2042, (xii) as to the 30 Year Lease Sites, the last Business Day of 2043,
(xiii) as to the 31 Year Lease Sites, the last Business Day of 2044, (xiv) as to the 32 Year Lease Sites, the last Business Day of 2045, (xv) as to the 33 Year Lease Sites, the last Business Day of 2046, (xvi) as to the 34 Year
Lease Sites, the last Business Day of 2047 and (xvii) as to the 35 Year Lease Sites, the last Business Day of 2048. 

“Subsequent Closing” means the conversion of (i) a Non-Contributable Site to a Contributable Site or
(ii) a Pre-Lease Site into a Lease Site subsequent to the Effective Date. 
 “Subsequent Closing Date”
means, with respect to each Subsequent Closing, the date on which such Subsequent Closing is deemed to have occurred. 

“Substantial Portion” means, as to a Site, so much of such Site (including the Land, Tower and Improvements
of such Site, or any portion of such Site) as, when subject to a Taking or damage as a result of a casualty, leaves the untaken or undamaged portion unsuitable for the continued feasible and economic operation of such Site for owning, operating,
managing, maintaining and leasing towers and other wireless infrastructure. 
 “Taking” means, as to any
Site, any condemnation or exercise of the power of eminent domain by any Governmental Authority, or any taking in any other manner for public use, including a private purchase, in lieu of condemnation, by a Governmental Authority. 

“Tax” means all forms of taxation, whenever created or imposed, whether imposed by a local, municipal, state,
foreign, federal or other Governmental Authority, and whether imposed directly by a Governmental Authority or indirectly through any other Person and includes any federal, state, local or foreign income, gross receipts, ad valorem, excise,
value-added, sales, use, transfer, franchise, license, stamp, occupation, withholding, employment, payroll, property or environmental tax, levy, charge, assessment or fee together with any interest, penalty, addition to tax or additional amount
imposed by a Governmental Authority or indirectly through any other Person, as well as any liability for or in respect of the Taxes of, or determined by reference to the Tax liability of, another Person under Treasury Regulation § 1.1502-6 (or
any similar provision of state, local or foreign Law), as a transferee or successor, by contract or otherwise. 

“Term” means (i) as to each Site, the term during which this Agreement is applicable to
such Site as set forth in Section 9(a); and (ii) as to this Agreement, the period from the Effective Date until the expiration or earlier termination of this Agreement as to all Sites. 

“Tower” means the communications towers or other support structures on the Sites from time to time. 

“Tower Operator Equipment” means all physical assets (other than real property, interests in real property
and Excluded Equipment), located at the applicable Site on or in, or attached to, the Land, Improvements or Towers leased to, owned by or operated by Tower Operator pursuant to this Agreement. 

  
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 “Tower Operator Indemnitee” means Tower Operator and its
Affiliates and their respective directors, officers, employees, agents and representatives. 
 “Tower Operator
Lender” means the holder(s) of any Secured Tower Operator Loan, together with the heirs, legal representatives, successors, transferees, nominees and assignees of such holder(s). Any group of holders of the same Secured Tower Operator Loan
who are represented by the same Tower Operator Lender Representatives shall be deemed to be one Tower Operator Lender for purposes of this Agreement. 

“Tower Operator Lender Representative” means any administrative agent, trustee, collateral agent or similar
representative acting on behalf or for the benefit of any Tower Operator Lender or group of Tower Operator Lenders with respect to the same Secured Tower Operator Loan. 

“Tower Operator Negotiated Increased Revenue Sharing Payments” means, with respect to any Site, any
requirement under a Ground Lease, or a Ground Lease amendment, renewal or extension, in each case entered into after the Effective Date, to pay to the applicable Ground Lessor a share of the revenue derived from the rent paid under this Agreement,
the MPL Site MLA, the Sale Site MLA or any other agreement (including with a Tower Subtenant) that is in excess of the Revenue Sharing payment obligation (if any) in effect prior to Tower Operator’s entry into such amendment, renewal or
extension after the Effective Date for such Site with respect to the revenue derived from the rent paid under this Agreement, the Sale Site MLA, the MPL Site MLA or any other agreement (including with a Tower Subtenant); provided that
“Tower Operator Negotiated Increased Revenue Sharing Payments” shall not include any such requirement or obligation (i) existing as of the Effective Date or (ii) arising under the terms of the applicable Ground Lease (as in
effect as of the Effective Date) or under any amendment, renewal or extension the terms of which had been negotiated or agreed upon prior to the Effective Date. 

“Tower Operator Negotiated Renewal” means (i) an extension or renewal of any Ground Lease by Tower
Operator in accordance with this Agreement or (ii) a new Ground Lease, successive to a previously existing Ground Lease, entered into by Tower Operator; provided that in the case of this clause (ii), (A) the term of such new Ground
Lease commences no later than six (6) months after the termination or expiration of the previously existing Ground Lease, (B) the new Ground Lease continues to remain in the name of an AT&T Lessor or AT&T Ground Lease Party as the
“ground lessee” under such new Ground Lease and (C) the new Ground Lease is otherwise executed in accordance with this Agreement. 

“Tower Operator Permitted Liens” means, as to any Site, collectively, (i) Liens in respect of Property
Taxes or other Taxes that are not yet delinquent as long as no foreclosure, distraint, sale or similar proceedings have been commenced with respect thereto; (ii) Liens of landlords, laborers, shippers, carriers, warehousemen, mechanics,
materialmen, repairmen and other like Liens imposed by Law that arise in the ordinary course of business as long as no foreclosure, distraint, sale or similar proceedings have been commenced with respect thereto; (iii) general utility, roadway
and other easements or rights of way that do not or would not reasonably be expected to, individually or in the aggregate, materially adversely affect the use or operation of the Tower or Site as a telecommunications tower facility; (iv) rights
of, or by, 

  
 -12- 

 
through or under Persons leasing, licensing or otherwise occupying space on any Tower or otherwise utilizing any Tower pursuant to any Collocation Agreement as provided therein; (v) all
Liens and other matters of public record against the underlying real property interest of any ground lessor under any ground lease; (vi) the terms and provisions of any ground lease as provided therein; (vii) any Mortgage granted by Tower
Operator in connection with a Secured Tower Operator Loan; (viii) any Lien or right created by Persons other than Tower Operator or its Affiliates and not caused or consented to by Tower Operator or its Affiliates as long as no foreclosure,
distraint, sale or similar proceedings have been commenced with respect thereto; and (ix) any Lien or right otherwise caused or consented to by any AT&T Group Member. 

“Tower Subtenant” means, as to any Site, any Person (other than AT&T Collocator) that (i) is a
“sublessee”, “licensee” or “sublicensee” under any Collocation Agreement affecting the right to use Available Space at such Site (prior to the Effective Date); or (ii) subleases, licenses, sublicenses or otherwise
acquires from Tower Operator the right to use Available Space at such Site (from and after the Effective Date). 

“Tower Subtenant Communications Equipment” means any Communications Equipment owned or leased by a Tower
Subtenant. 
 “Tower Subtenant Improvements” means any Improvements located at a Site that support,
shelter, protect, enclose or provide power or back-up power to Tower Subtenant Communications Equipment other than a Tower. All utility connections that provide service to Tower Subtenant Communications Equipment, other than those owned by an
AT&T Group Member or a third party other than a Tower Subtenant, shall be deemed Tower Subtenant Improvements. 

“Tower Subtenant Related Party” means Tower Subtenant and its Affiliates, and its and their respective
directors, officers, employees, agents and representatives. 
 “Tranche of Sites” refers to each of the 19
Year Lease Sites, 20 Year Lease Sites, 21 Year Lease Sites, 22 Year Lease Sites, 23 Year Lease Sites, 24 Year Lease Sites, 25 Year Lease Sites, 26 Year Lease Sites, 27 Year Lease Sites, 28 Year Lease Sites, 29 Year Lease Sites, 30 Year Lease Sites,
31 Year Lease Sites, 32 Year Lease Sites, 33 Year Lease Sites, 34 Year Lease Sites and 35 Year Lease Sites. 

“Transaction Documents” means this Agreement, the Master Agreement, the MPL Site MLA, the Collateral
Agreements and all other documents to be executed by the Parties in connection with the consummation of transactions contemplated by the Master Agreement, the MPL Site MLA and this Agreement. 

“Unauthorized Document” means any document that (i) provides for the acquisition of a fee simple
interest in real property or the purchase of assets by Tower Operator in the name of any AT&T Lessor or any of its Affiliates; (ii) provides for the incurrence of indebtedness for borrowed money in the name of, of any guarantee by, any
AT&T Lessor or any of its Affiliates or purports to grant any mortgage, pledge or other security interest on the interest of AT&T Lessor or any of its Affiliates in any Site; (iii) is between or among Tower Operator or any of its
Affiliates, on the one hand, and any AT&T Lessor or any of its Affiliates, on the other 

  
 -13- 

 
hand; provided that powers of attorney used for recording, in each County and State, all memoranda of lease, sublease and management agreements contemplated by this Agreement or any other
Transaction Document shall be excluded from this clause (iii); (iv) waives, terminates, amends or exercises (or purports to waive, terminate, amend or exercise) any right expressly granted to and reserved for the benefit of any AT&T Lessor
or any of its Affiliates under this Agreement and the Transaction Documents; or (v) settles or compromises any Dispute. 

“Wholly Owned Affiliate” means (i) so long as AT&T Guarantor is wholly owned, directly or
indirectly, by AT&T Parent, any Affiliate of AT&T Collocator that is directly or indirectly wholly owned by AT&T Parent or (ii) if AT&T Guarantor ceases to be wholly owned, directly or indirectly, by AT&T Parent,
(A) any Affiliate of AT&T Collocator that is directly or indirectly wholly owned by AT&T Guarantor or (B) subject to Section 39, any Person that is directly or indirectly wholly owned by AT&T Parent (but with
respect to any such Person described in this clause (ii)(B), only to the extent that such Person used the applicable Site as of the date AT&T Guarantor ceased to be wholly owned by AT&T Parent). 

“Zoning Laws” means any zoning, land use or similar Laws, including Laws relating to the use or occupancy of
any communications towers or property, building codes, development orders, zoning ordinances, historic preservation laws and land use regulations. 

“19 Year Lease Purchase Option Closing Date” means the last Business Day of 2032. 

“20 Year Lease Purchase Option Closing Date” means the last Business Day of 2033. 

“21 Year Lease Purchase Option Closing Date” means the last Business Day of 2034. 

“22 Year Lease Purchase Option Closing Date” means the last Business Day of 2035. 

“23 Year Lease Purchase Option Closing Date” means the last Business Day of 2036. 

“24 Year Lease Purchase Option Closing Date” means the last Business Day of 2037. 

“25 Year Lease Purchase Option Closing Date” means the last Business Day of 2038. 

“26 Year Lease Purchase Option Closing Date” means the last Business Day of 2039. 

“27 Year Lease Purchase Option Closing Date” means the last Business Day of 2040. 

  
 -14- 

 “28 Year Lease Purchase Option Closing Date” means the last
Business Day of 2041. 
 “29 Year Lease Purchase Option Closing Date” means the last Business Day of 2042.

 “30 Year Lease Purchase Option Closing Date” means the last Business Day of 2043. 

“31 Year Lease Purchase Option Closing Date” means the last Business Day of 2044. 

“32 Year Lease Purchase Option Closing Date” means the last Business Day of 2045. 

“33 Year Lease Purchase Option Closing Date” means the last Business Day of 2046. 

“34 Year Lease Purchase Option Closing Date” means the last Business Day of 2047. 

“35 Year Lease Purchase Option Closing Date” means the last Business Day of 2048. 

“19 Year Lease Purchase Sites” means all 19 Year Lease Sites on the 19 Year Lease Purchase Option Closing
Date then subject to the terms and provisions of this Agreement that are not Excluded Purchase Sites. 
 “20 Year
Lease Purchase Sites” means all 20 Year Lease Sites on the 20 Year Lease Purchase Option Closing Date then subject to the terms and provisions of this Agreement that are not Excluded Purchase Sites. 

“21 Year Lease Purchase Sites” means all 21 Year Lease Sites on the 21 Year Lease Purchase Option Closing
Date then subject to the terms and provisions of this Agreement that are not Excluded Purchase Sites. 
 “22 Year
Lease Purchase Sites” means all 22 Year Lease Sites on the 22 Year Lease Purchase Option Closing Date then subject to the terms and provisions of this Agreement that are not Excluded Purchase Sites. 

“23 Year Lease Purchase Sites” means all 23 Year Lease Sites on the 23 Year Lease Purchase Option Closing
Date then subject to the terms and provisions of this Agreement that are not Excluded Purchase Sites. 
 “24 Year
Lease Purchase Sites” means all 24 Year Lease Sites on the 24 Year Lease Purchase Option Closing Date then subject to the terms and provisions of this Agreement that are not Excluded Purchase Sites. 

  
 -15- 

 “25 Year Lease Purchase Sites” means all 25 Year Lease Sites on
the 25 Year Lease Purchase Option Closing Date then subject to the terms and provisions of this Agreement that are not Excluded Purchase Sites. 

“26 Year Lease Purchase Sites” means all 26 Year Lease Sites on the 26 Year Lease Purchase Option Closing
Date then subject to the terms and provisions of this Agreement that are not Excluded Purchase Sites. 
 “27 Year
Lease Purchase Sites” means all 27 Year Lease Sites on the 27 Year Lease Purchase Option Closing Date then subject to the terms and provisions of this Agreement that are not Excluded Purchase Sites. 

“28 Year Lease Purchase Sites” means all 28 Year Lease Sites on the 28 Year Lease Purchase Option Closing
Date then subject to the terms and provisions of this Agreement that are not Excluded Purchase Sites. 
 “29 Year
Lease Purchase Sites” means all 29 Year Lease Sites on the 29 Year Lease Purchase Option Closing Date then subject to the terms and provisions of this Agreement that are not Excluded Purchase Sites. 

“30 Year Lease Purchase Sites” means all 30 Year Lease Sites on the 30 Year Lease Purchase Option Closing
Date then subject to the terms and provisions of this Agreement that are not Excluded Purchase Sites. 
 “31 Year
Lease Purchase Sites” means all 31 Year Lease Sites on the 31 Year Lease Purchase Option Closing Date then subject to the terms and provisions of this Agreement that are not Excluded Purchase Sites. 

“32 Year Lease Purchase Sites” means all 32 Year Lease Sites on the 32 Year Lease Purchase Option Closing
Date then subject to the terms and provisions of this Agreement that are not Excluded Purchase Sites. 
 “33 Year
Lease Purchase Sites” means all 33 Year Lease Sites on the 33 Year Lease Purchase Option Closing Date then subject to the terms and provisions of this Agreement that are not Excluded Purchase Sites. 

“34 Year Lease Purchase Sites” means all 34 Year Lease Sites on the 34 Year Lease Purchase Option Closing
Date then subject to the terms and provisions of this Agreement that are not Excluded Purchase Sites. 
 “35 Year
Lease Purchase Sites” means all 35 Year Lease Sites on the 35 Year Lease Purchase Option Closing Date then subject to the terms and provisions of this Agreement that are not Excluded Purchase Sites. 

“19 Year Lease Sites” means the Sites set forth on Schedule 1-A hereto. 

“20 Year Lease Sites” means the Sites set forth on Schedule 1-B hereto. 

  
 -16- 

 “21 Year Lease Sites” means the Sites set forth on Schedule 1-C
hereto. 
 “22 Year Lease Sites” means the Sites set forth on Schedule 1-D hereto. 

“23 Year Lease Sites” means the Sites set forth on Schedule 1-E hereto. 

“24 Year Lease Sites” means the Sites set forth on Schedule 1-F hereto. 

“25 Year Lease Sites” means the Sites set forth on Schedule 1-G hereto. 

“26 Year Lease Sites” means the Sites set forth on Schedule 1-H hereto. 

“27 Year Lease Sites” means the Sites set forth on Schedule 1-I hereto. 

“28 Year Lease Sites” means the Sites set forth on Schedule 1-J hereto. 

“29 Year Lease Sites” means the Sites set forth on Schedule 1-K hereto. 

“30 Year Lease Sites” means the Sites set forth on Schedule 1-L hereto. 

“31 Year Lease Sites” means the Sites set forth on Schedule 1-M hereto. 

“32 Year Lease Sites” means the Sites set forth on Schedule 1-N hereto. 

“33 Year Lease Sites” means the Sites set forth on Schedule 1-O hereto. 

“34 Year Lease Sites” means the Sites set forth on Schedule 1-P hereto. 

“35 Year Lease Sites” means the Sites set forth on Schedule 1-Q hereto. 

Any other capitalized terms used in this Agreement shall have the respective meanings given to them elsewhere in this
Agreement. 
 (b) Terms Defined Elsewhere in this Agreement. In addition to the terms defined in Section 1(a),
the following terms are defined in the Section or part of this Agreement specified below: 
  

			
	 Defined Term
	  	 Section

	 Agreement
	  	 Preamble

	 Allocated Rent
	  	 Section 10(c)

	 AT&T Lessor
	  	 Preamble

	 AT&T Lessor Extension Notice
	  	 Section 4(d)(iv)

	 AT&T Parent Affiliate
	  	 Section 39

	 AT&T Parent Affiliate License
	  	 Section 39

	 AT&T Obligations
	  	 Section 38(b)

	 Authorized Collocation Agreement Documents
	  	 Section 6(b)

	 Authorized Ground Lease Document
	  	 Section 4(b)

	 Casualty Notice
	  	 Section 35(a)

	 Chosen Courts
	  	 Section 37(b)

  
 -17- 

			
	 Defined Term
	  	 Section

	 Default Notice
	  	 Section 5(b)

	 Disputes
	  	 Section 15(d)

	 Effective Date
	  	 Preamble

	 Federal Depreciation Deductions
	  	 Section 34(a)(i)

	 Financial Advisors
	  	 Section 32(a)

	 Indemnifying Party
	  	 Section 15(c)(i)

	 New Lease
	  	 Section 21(b)(iii)

	 NOTAM
	  	 Section 24(h)(i)

	 Option Purchase Price
	  	 Section 20(b)

	 Option Sellers
	  	 Section 20(a)

	 Party
	  	 Preamble

	 Post-Exercise Period
	  	 Section 34(g)

	 Proportional Rent
	  	 Section 10(d)

	 Purchase Option
	  	 Section 20(a)

	 Purchase Option Closing Dates
	  	 Section 20(a)

	 Purchase Sites
	  	 Section 20(a)

	 Qualified Tower Operator
	  	 Section 18(a)(i)

	 Restorable Site
	  	 Section 35(a)

	 Section 467 Loan
	  	 Section 10(d)

	 Tax Assumptions
	  	 Section 34(a)(i)

	 Tax Claim
	  	 Section 34(d)

	 Tax Event
	  	 Section 34(a)(iii)

	 Tax Indemnitee
	  	 Section 34(a)(iii)

	 Tax Indemnity Notice
	  	 Section 34(a)(iii)

	 Tax Loss
	  	 Section 34(a)(iii)

	 Tax Savings
	  	 Section 34(c)

	 Third Party Claim
	  	 Section 15(c)(i)

	 Tower Operator
	  	 Preamble

	 Tower Operator Extension or Relocation Notice
	  	 Section 4(d)(iii)

	 Tower Operator Property Tax Charge
	  	 Section 22(c)

	 Tower Operator Work
	  	 Section 12(b)

	 Transfer Taxes
	  	 Section 22(d)

	 Transferred Property
	  	 Section 20(c)

	 Triggering Event
	  	 Section 34(c)

 (c) Terms Defined in Master Agreement. The following defined terms in the Master
Agreement are used herein as defined in the Sections or parts therein when used herein with initial capital letters: 
  

			
	 Defined Term
	  	 Section

	 AT&T Newco LLC Agreement
	  	 Section 2.1(a)

	 AT&T Newco Separateness Agreement
	  	 Section 2.1(a)

	 AT&T’s Share of Transaction Revenue Sharing Payments
	  	 Section 1.1

	 Collocation Operations
	  	 Section 1.1

	 Documentary Subsequent Closing
	  	 Section 1.1

  
 -18- 

			
	 Excluded Asset
	  	 Section 1.1

	 Managed Sale Site
	  	 Section 1.1

	 Management Agreement
	  	 Recitals

	 NEPA
	  	 Section 1.1

	 Permitted Liens
	  	 Section 1.1

	 Pre-Lease Site
	  	 Section 1.1

	 Sale Sites
	  	 Section 1.1

	 Taxing Authority
	  	 Section 1.1

	 Tower Bonds
	  	 Section 1.1

	 Tower Operator General Assignment and Assumption Agreement
	  	 Recitals

	 Tower Operator’s Share of Transaction Revenue Sharing Payments
	  	 Section 1.1

	 Tower Related Assets
	  	 Section 1.1

	 Transition Services Agreement
	  	 Recitals

 (d) Terms Defined in the MPL Site MLA. The following defined terms in the MPL Site MLA
are used herein as defined in the Sections or parts therein when used herein with initial capital letters: 
  

			
	 Defined Term
	  	 Section

	 ASR
	  	 Section 6(a)(iii)

	 AT&T Collocation Space
	  	 Section 9(a)

	 AT&T Collocator
	  	 Section 1(a)

	 AT&T Rent Amount
	  	 Section 4(a)

	 Memorandum of Site Lease Agreement
	  	 Section 1(a)

	 Reserved Property
	  	 Section 1(a)

	 Site Lease Agreement
	  	 Section 1(a)

	 Termination Notice
	  	 Section 3(c)

 (e) Construction. Unless the express context otherwise requires: 

(i) the words “hereof”, “herein”, and “hereunder” and words of similar import,
when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement; 

(ii) the terms defined in the singular have a comparable meaning when used in the plural, and vice versa, and
the singular forms of nouns, pronouns and verbs shall include the plural and vice versa; 
 (iii) any
references herein to “$” are to United States Dollars; 
 (iv) any references herein to a specific
Section, Schedule or Exhibit shall refer, respectively, to Sections, Schedules or Exhibits of this Agreement; 

(v) any references to any agreement, document or instrument means such agreement, document or instrument as
amended or otherwise modified from time to 

  
 -19- 

 
time in accordance with the terms thereof and, if applicable, hereof; 

(vi) any use of the words “or”, “either” or “any” shall not be exclusive; 

(vii) wherever the word “include,” “includes,” or “including” is used in this
Agreement, it shall be deemed to be followed by the words “without limitation”; 
 (viii)
references herein to any gender include each other gender; and 
 (ix) any provision providing that Tower
Operator or any of its Affiliates shall “require” any Tower Subtenant to engage or refrain from engaging in certain activities, or take or refrain from taking certain acts, shall be construed as an obligation by Tower Operator or such
Affiliate of Tower Operator to use commercially reasonable efforts to cause such Tower Subtenant’s compliance therewith. 

SECTION 2. Documents; Operating Principles. 

(a) Documents. This Agreement shall consist of the following documents, as amended from time to time as provided
herein: 
 (i) this Agreement; 

(ii) the following Exhibits, which are incorporated herein by this reference: 

 

			
	 Exhibit A
	  	 List of Sites

	 Exhibit B
	  	 List of Lease Sites

	 Exhibit C
	  	 Rent and Pre-Lease Rent

	 Exhibit D
	  	 Allocated Rent

	 Exhibit E
	  	 Option Purchase Price

	 Exhibit F
	  	 Form of UCC-1

	 Exhibit G
	  	 Form of Memorandum of Lease/Managed Sites

	 Exhibit H
	  	 Form of Memorandum of Assignment

	 Exhibit I
	  	 Reserved

	 Exhibit J
	  	 Certain AT&T Collocator Competitors

	 Exhibit K
	  	 Form of Power of Attorney

 (iii) Schedules to the Exhibits, which are incorporated herein by reference,
and all Schedules to this Agreement, which are incorporated herein by reference; and 
 (iv) such additional
documents as are incorporated by reference, including the MPL Site MLA relating to a Site. 
 (b) Priority of
Documents. If any of the documents referenced in Section 2(a) are inconsistent, this Agreement shall prevail over the Exhibits, the Schedules and additional incorporated documents. 

  
 -20- 

 (c) Survival of Terms and Provisions. All terms defined in this Agreement
and all provisions of this Agreement solely to the extent necessary to the interpretation of the Master Agreement or any other Collateral Agreement referred to in the Master Agreement shall survive after the termination or expiration of this
Agreement and shall remain in full force and effect until the expiration or termination of such applicable agreement. 
 (d)
Operating Principles. During the Term of a Site, Tower Operator shall manage, operate and maintain such Site (including with respect to the entry into, modification, amendment, extension, expiration, termination, structuring and
administration of Ground Leases and Collocation Agreements related thereto), (i) in the ordinary course of business, (ii) in compliance with applicable Law in all material respects, (iii) in a manner consistent in all material
respects with the manner in which Tower Operator manages, operates and maintains its portfolio of telecommunications tower sites and (iv) in a manner that shall not be less than the general standard of care in the tower industry. Without
limiting the generality of the foregoing, during the Term of a Site, except as expressly permitted by the terms of this Agreement, Tower Operator shall not without the prior written consent of the AT&T Lessors (A) manage, operate or
maintain such Site in a manner that would (x) diminish the expected residual value of such Site in any material respect or shorten the expected remaining economic life of such Site, in each case determined as of the expiration of the Term of
such Site, or (y) cause such Site or a substantial portion of such Site to become “limited use property” within the meaning of Rev. Proc. 2001-28, 2001-1 C.B. 1156 (except, in the case of this clause (y), as required by applicable Law
or any Governmental Authority), (B) structure any related Ground Lease in a manner such that the amounts payable thereunder are above fair market value during any period following or upon the expiration of the Term of such Site (without regard
to any amounts payable prior to the expiration of the Term of such Site) or (C) structure any related Collocation Agreement in a manner such that the amounts payable thereunder are structured on an initial lump-sum basis (if such amounts
payable are not capital contributions or other upfront payments for capital improvements to a Site related to the use of such Site by the collocator under such Collocation Agreement) or are otherwise less than fair market value during any period
following or upon expiration of the Term of such Site (without regard to any amounts payable prior to the expiration of the Term of such Site), in each case unless otherwise expressly authorized by the terms and conditions of this Agreement and the
Transaction Documents. 
 SECTION 3. Tower Operator Lease of Lease Site and Occupancy Rights With Respect to Managed
Sites. 
 (a) Lease Sites. Subject to the terms and conditions of this Agreement, as of the Effective Date as to
the Initial Lease Sites, and thereafter as of the applicable Subsequent Closing Date as to each Managed Site converted to a Lease Site hereunder pursuant to a Subsequent Closing, each AT&T Lessor hereby lets, leases and demises unto Tower
Operator, and Tower Operator hereby leases, takes and accepts from such AT&T Lessor, the Included Property of all of the Lease Sites held by such AT&T Lessor. As to each Site, this Agreement is a grant of a leasehold, license or other
interest in such Site (with respect to Sites that are owned by an AT&T Lessor in fee simple) or a subleasehold, sublicense or other interest in such Site (with respect to Sites that are subject to Ground Leases). The rights granted to Tower
Operator under this Agreement include, with respect to each Tower, the right of Tower Operator to use and employ, to the extent such rights may be legally granted to or used by Tower Operator, the 

  
 -21- 

 
Tower Related Assets related to the Sites. AT&T Lessors and Tower Operator acknowledge and agree that this single Agreement is indivisible, intended to cover all of the Sites and is not a
separate lease and sublease or agreement with respect to individual Sites, and for bankruptcy-law purposes (and without impairing the express rights of any Party hereunder), all Parties intend that this Agreement be treated as a single indivisible
agreement. 
 (b) Additional Lease Sites. Each Lease Site that is not an Initial Lease Site shall be made subject to
this Agreement by means of a Subsequent Closing (after which the AT&T Lessors and Tower Operator shall execute and deliver at a Documentary Subsequent Closing an amendment of Exhibit B hereto to reflect such Site as a Lease Site instead of a
Managed Site). 
 (c) Managed Sites. As to each Managed Site, each AT&T Lessor and AT&T Ground Lease Party
hereby appoints Tower Operator, and Tower Operator agrees to act and shall act, as the exclusive operator during the Term of the Included Property of each Managed Site operated by such AT&T Lessor or AT&T Ground Lease Party. Notwithstanding
anything to the contrary herein, no leasehold, subleasehold or other real property interest is granted pursuant to Section 3(a) in the Included Property of any Managed Site until the Subsequent Closing (if any) at which such Managed Site is
converted to a Lease Site; provided, however, that for U.S. federal income Tax purposes this Agreement shall be treated as a lease of the Managed Sites as described in Section 3(i). The rights granted to Tower Operator under this
Agreement include, with respect to each Tower, the right of Tower Operator to use and employ, to the extent such rights may be legally granted to or used by Tower Operator, the Tower Related Assets related to the Managed Sites. In performing its
duties as operator of the Included Property of the Managed Sites, Tower Operator shall manage, administer and operate the Included Property of each of the Managed Sites, subject to the provisions of this Agreement, in a commercially reasonable
manner and pursuant to standards at least equal to those Tower Operator uses to manage, administer and operate the Included Property of the Lease Sites. Except as expressly provided herein (including Section 28), no AT&T Ground Lease Party
nor AT&T Lessor shall exercise any rights or take any actions with respect to the operation, maintenance, leasing or licensing of the Included Property of any Managed Sites, all such rights being exclusively reserved to Tower Operator hereunder.

 (d) Tower Operator Acceptance of Sites. Tower Operator hereby accepts the Included Property of each Site in its
“AS IS” condition, without any representation or warranty of or from any AT&T Lessor or AT&T Guarantor or any of their respective Affiliates whatsoever as to its condition or suitability for the Permitted Use or any other
particular use, except as may be expressly set forth in the Master Agreement, the remedies for a breach of which shall be solely under and subject to the terms, conditions and limitations thereof. Except as set forth in the Master Agreement, Tower
Operator hereby acknowledges that none of the AT&T Lessors or AT&T Guarantor or any of their respective agents or Affiliates has made any representation or warranty, express or implied, with respect to any of the Included Property, or any
portion of such Included Property, or the suitability or fitness for the conduct of Tower Operator’s business or for any other purpose, including the Permitted Use. 

(e) Site Related Revenue. During the Term, Tower Operator shall receive and shall be entitled to all of the revenue
generated by the Included Property of such Site that results 

  
 -22- 

 
from the Permitted Use of the Site (other than the Rent and Pre-Lease Rent payable hereunder, any Option Purchase Price and revenue generated by an AT&T Group Member pursuant to the provision
of services described in Section 19(d) of the MPL Site MLA), including all revenue under the Collocation Agreements accruing from and after the Effective Date and all revenue received under the Collocation Agreements on or prior to the
Effective Date for or with respect to periods from and after the Effective Date, and no AT&T Lessor or any of its Affiliates shall be entitled to any of such revenue. Except as may be expressly provided otherwise in the Transition Services
Agreement, if any such revenue is paid to any AT&T Lessor or its Affiliates, such AT&T Lessor or its Affiliate receiving such revenue shall remit such revenue to Tower Operator promptly after receiving such revenue. Each AT&T Lessor and
the applicable AT&T Ground Lease Party (as applicable) shall direct (or cause its Affiliate to direct), in writing, all payers of amounts due and accruing after the Effective Date under the Collocation Agreements to pay such amounts to Tower
Operator. 
 (f) Site Related Expenses. From and after the Effective Date, except as otherwise expressly provided in
this Agreement or any other Transaction Document, Tower Operator shall be responsible for the payment of, and shall pay, all expenses due and accruing from and after the Effective Date and related to or associated with the Included Property of the
Sites, whether ordinary or extraordinary, and whether foreseen or unforeseen, including all expenses due and accruing from and after the Effective Date under the Ground Leases and the Collocation Agreements. Each AT&T Lessor and the applicable
AT&T Ground Lease Party (as applicable) shall direct (or cause its Affiliate to direct) applicable third parties, in writing, that all such expenses due and accruing after the Effective Date be collected from Tower Operator. 

(g) Revenue Sharing Payments. AT&T Lessors shall pay, as and when due, AT&T’s Share of Transaction Revenue
Sharing Payments that are required to be made in respect of the Rent and Pre-Lease Rent for all Sites. Tower Operator shall pay, as and when due, Tower Operator’s Share of Transaction Revenue Sharing Payments that are required to be made in
respect of the Rent and Pre-Lease Rent for all Sites. 
 (h) Filing of Financing Statements. Each AT&T Lessor
hereby irrevocably authorizes Tower Operator or its designee to file in any relevant jurisdiction, at any time and from time to time, (x) any UCC-1 financing statement, which shall be substantially in the form of Exhibit F hereto, and any
amendments thereto, (y) any memoranda of leases or Managed Sites, which shall be substantially in the form of Exhibit G hereto and any amendments thereto and (z) any memoranda of assignment, which shall be substantially in the form of
Exhibit H hereto and any amendments thereto, that are in each case necessary or desirable to evidence, perfect or otherwise record Tower Operator’s leasehold or management interest in each Site, as applicable, granted pursuant to this Agreement
and the other Transaction Documents. Each AT&T Lessor agrees, promptly upon request by Tower Operator, to use commercially reasonable efforts to provide Tower Operator with any information that is required or requested by Tower Operator in
connection with the filing of any such financing statement or document. 
 (i) Tax Treatment. Notwithstanding
anything to the contrary in this Agreement, and in accordance with the Tax Assumptions set forth in Section 34(a)(i), the Parties acknowledge and agree that this Agreement is intended to be treated for U.S. federal income Tax purposes as a
lease between Tower Operator and the AT&T Lessors with respect to each of the 

  
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Lease Sites and the Managed Sites (excluding any Managed Sale Sites), and the Parties further agree to not take any position on any Tax return that is inconsistent with such treatment. 

SECTION 4. Tower Operator Rights and Obligations Under the Ground Leases. 

(a) Compliance with Ground Leases. Tower Operator hereby acknowledges that, as to the Included Property of each Site,
this Agreement is subject and subordinate to all of the terms and conditions of the applicable Ground Lease of such Site. From and after the Effective Date, Tower Operator shall promptly pay or cause to be paid the Ground Rent under each Ground
Lease for each Site during the Term of this Agreement when such payments become due and payable and, if Tower Operator fails to pay Ground Rent under any Ground Lease on a timely basis as required hereby, Tower Operator shall be responsible for any
applicable late charges, fees or interest payable to the Ground Lessor arising after the Effective Date. Tower Operator shall abide by, comply with and perform all applicable terms, covenants, conditions and provisions of each Ground Lease
(including terms, covenants, conditions and provisions relating to maintenance, insurance and alterations) as if Tower Operator were the “ground lessee” under the applicable Ground Lease and, to the extent evidence of such performance must
be provided to a Ground Lessor, Tower Operator shall provide such evidence to such Ground Lessor (in each case unless such performance obligation is such that it requires performance by an AT&T Collocator of such obligations pursuant to the
applicable Ground Lease or the MPL Site MLA). Should any Ground Lessor refuse the payment of Ground Rent for an applicable Site from any Person other than the applicable AT&T Lessor or its Affiliate, as applicable, then such AT&T Lessor or
its Affiliate, as applicable, shall promptly pay such amount after Tower Operator pays or causes such amount to be paid to such AT&T Lessor or its Affiliate with instructions for such AT&T Lessor or its Affiliate, as applicable, to pay such
amount to the applicable Ground Lessor. To the extent that any Ground Lease imposes or requires the performance by the “ground lessee” thereunder of any duty or obligation that is more stringent than or in conflict with any term, covenant,
condition or provision of this Agreement, the applicable term, covenant, condition or provision of such Ground Lease shall control and shall constitute the duties and obligations of Tower Operator under this Agreement as to the subject matter of
such term, covenant, condition or provision. Tower Operator shall be responsible for any breaches of, or defaults under, any Ground Lease that are caused by Tower Operator or its authorized agents and employees. Tower Operator shall not engage in,
and shall use commercially reasonable efforts to prevent any Tower Subtenant from engaging in, any conduct that would (i) constitute a breach of or default under any Ground Lease or (ii) result in the Ground Lessor being entitled to
terminate the applicable Ground Lease or to terminate the applicable AT&T Lessor’s or AT&T Ground Lease Party’s right as ground lessee under such Ground Lease, or to exercise any other rights or remedies to which Ground Lessor may
be entitled for a default or breach under the applicable Ground Lease. In no event shall Tower Operator have any liability to any AT&T Group Member for any breach of, or default under, a Ground Lease caused by an act of, or failure to perform a
duty required to be performed by, AT&T Collocator, any AT&T Lessor, any AT&T Ground Lease Party or any AT&T Group Member or a breach of this Agreement or the MPL Site MLA by any AT&T Collocator or any AT&T Lessor. 

  
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 (b) Tower Operator Rights Under Ground Leases; Power of Attorney. Each
AT&T Lessor hereby delegates to Tower Operator the sole and exclusive right to perform the obligations of, and assert and exercise the rights of, such AT&T Lessor and all AT&T Ground Lease Parties under all Ground Leases, subject to the
terms and conditions of this Agreement and the MPL Site MLA. Tower Operator shall be entitled, subject to the standards set forth in Section 2(d) and this Section 4(b), to review, negotiate and execute any Tower Operator Negotiated
Renewal, waiver, amendment, extension, renewal, sequential lease, adjacent lease, non-disturbance agreement and other documentation relating to Ground Leases that (i) Tower Operator determines in good faith is on commercially reasonable terms,
(ii) is of a nature and on terms to which Tower Operator would agree (in light of the circumstances and conditions that exist at such time) in the normal course of business if it were the direct lessee under the related Ground Lease rather than
a sublessee thereof pursuant to this Agreement and (iii) otherwise satisfies the following requirements of this Section 4 (each, an “Authorized Ground Lease Document”). Each AT&T Lessor hereby grants Tower Operator a
limited power of attorney and hereby appoints Tower Operator as its attorney in fact to (x) review, negotiate and execute on behalf of such AT&T Lessor all Authorized Ground Lease Documents, all Authorized Collocation Agreement Documents
related to the Managed Sites and all other documents contemplated and permitted by this Agreement or necessary to give effect to the intent of this Agreement and the transactions contemplated by this Agreement and the other Transaction Documents,
but excluding any Unauthorized Documents and (y) prepare and submit any applications or requests for Governmental Approvals, including with respect to Zoning Laws, related to operating the Site or to support the needs of a Tower Subtenant. Each
AT&T Lessor agrees to execute, from time to time, such other documents and certificates (including a separate power of attorney, including a power of attorney in the form attached as Exhibit K) as Tower Operator may reasonably request to
evidence the power of attorney granted in the preceding sentence and the appointment of Tower Operator as such AT&T Lessor’s attorney thereby. AT&T Guarantor agrees to cause each AT&T Ground Lease Party to grant and execute a
limited power of attorney and to appoint Tower Operator as its attorney in fact, to review, negotiate and execute on behalf of such AT&T Ground Lease Party all Authorized Ground Lease Documents, all Authorized Collocation Agreement Documents
related to the Managed Sites and all other documents contemplated and permitted by this Agreement or necessary to give effect to the intent of this Agreement and the transactions contemplated by this Agreement and the other Transaction Documents,
but excluding any Unauthorized Documents. Each AT&T Lessor agrees, and AT&T Guarantor agrees to cause each AT&T Ground Lease Party, to execute and deliver, as promptly as reasonably practicable and in any event within 15 Business Days
following request therefor by Tower Operator, any Authorized Ground Lease Document, any Authorized Collocation Agreement Document and any other document contemplated and permitted by this Agreement or necessary to give effect to the intent of this
Agreement and the other Transaction Documents. Except as expressly provided above in this Section 4(b) or otherwise in this Agreement, Tower Operator shall not be entitled to act as agent for, or otherwise on behalf of, any AT&T Lessor or
its Affiliate or to bind any AT&T Lessor or its Affiliate in any way whatsoever. 
 (c) Exercise of Existing Ground
Lease Extensions. During the term (including any renewal terms) of any Ground Lease relating to any Site, Tower Operator agrees to timely exercise prior to the expiration of the applicable Ground Lease and in accordance with the provisions of
the applicable Ground Lease, any and all extension options existing as of the 

  
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Effective Date, in accordance with Section 4(d). Each AT&T Lessor and AT&T Ground Lease Party agrees that it will not take any action with respect to any Ground Lease that is
reasonably likely to cause such Ground Lease to be prematurely terminated without the prior written approval of Tower Operator, in Tower Operator’s reasonable and good faith determination. Notwithstanding the foregoing, Tower Operator shall not
be required to exercise any Ground Lease extension option (A) if AT&T Collocator at the Site covered by such Ground Lease is in default of its obligations under the MPL Site MLA as to the Site beyond applicable notice and cure periods
provided therein, (B) if the then remaining term of such Ground Lease (determined without regard to such extension option) shall extend beyond the term of the MPL Site MLA as to such Site taking into account all renewal options that may be
exercised by AT&T Collocator under the MPL Site MLA or (C) if as to such Site, AT&T Collocator has given a Termination Notice under the MPL Site MLA whose effective date precedes the expiration date of the Ground Lease (determined
without regard to such extension option). 
 (d) Negotiation of Additional Ground Lease Extensions. 

(i) Tower Operator shall use commercially reasonable efforts, consistent with its normal course of business for
ground leased tower sites where Tower Operator or its Affiliate are the direct lessees under the ground lease, to negotiate and obtain, in accordance with the standards set forth in Section 2(d), the further extension of the term of all Ground
Leases subject to the provisions of Section 4(b) and this Section 4(d). Each AT&T Lessor, if requested by Tower Operator, shall use commercially reasonable efforts to assist Tower Operator in obtaining such further extensions (and not
interfere with Tower Operator); provided, however, that such AT&T Lessor shall not be required to expend any funds in connection therewith or accept any liability for which Tower Operator is responsible under this Agreement.
Beginning on the date that is seven (7) years prior to such expiration, Tower Operator will reasonably apprise the applicable AT&T Lessor or AT&T Ground Lease Party, on the applicable AT&T Lessor’s or AT&T Ground Lease
Party’s request from time to time (but no more frequently than two (2) times per year), of the progress of Tower Operator’s negotiations with the applicable Ground Lessor. Tower Operator shall be fully responsible for any Tower
Operator Negotiated Increased Revenue Sharing Payments. Tower Operator shall have the exclusive right to negotiate with Ground Lessors and obtain the further extension of the term of all Ground Leases at all times until the date that is two
(2) years before the expiration date of the applicable Ground Lease (or until the date that is six (6) months prior to the expiration date of the applicable Ground Lease in the case of a Ground Lease the Ground Lessor in respect of which
is a Governmental Authority). If the applicable Ground Lease contains a right of first offer, right of first refusal or similar provision in favor of the lessee thereunder, Tower Operator shall have the exclusive right to exercise the rights under
such provision; provided, however, that if Tower Operator fails to exercise its rights under such provision, the applicable AT&T Lessor or its Affiliate shall be entitled to exercise the lessee’s rights thereunder and Tower
Operator shall do all things reasonably necessary to facilitate such exercise. In furtherance of the foregoing, the applicable AT&T Lessor shall do all things reasonably necessary to facilitate the exercise of any right of first offer, right of
first refusal or similar provision by Tower Operator, and Tower Operator shall use commercially reasonable efforts to coordinate its exercise or non-exercise of any right of first offer, right of first refusal or similar

  
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provision with the applicable AT&T Lessor or its Affiliate so as to permit such AT&T Lessor or Affiliate to timely exercise any such right in the event Tower Operator declines to do so.

 (ii) Tower Operator shall provide AT&T Lessors with (A) a quarterly summary of all Tower Operator
Negotiated Renewals entered into for such given quarter, (B) promptly upon execution thereof, a copy of any Tower Operator Negotiated Renewal or any other document executed by Tower Operator as attorney for any AT&T Lessor or any AT&T
Ground Lease Party pursuant to a power of attorney granted pursuant to or as contemplated by Section 4(b), which may be provided in electronic form and (C) all related material documents executed in connection with any Tower Operator
Negotiated Renewal as may be reasonably requested by any AT&T Lessor (except privileged or confidential documents or where such disclosure is prohibited by Law). 

(iii) Tower Operator shall provide the applicable AT&T Lessor or AT&T Ground Lease Party with notice (a
“Tower Operator Extension or Relocation Notice”) no later than two (2) years before the expiration of any Ground Lease which does not include provisions of renewal beyond the scheduled expiration date (other than with respect
to any such Ground Lease that is scheduled to expire within two (2) years following the Effective Date). The Tower Operator Extension or Relocation Notice shall set forth (A) Tower Operator’s intent to negotiate an extension or
renewal of such Ground Lease (in which case Tower Operator shall provide subsequent notification of the progress of such negotiations, including the successful completion of the negotiations) or (B) Tower Operator’s intent to pursue an
alternative site that is in all material respects suitable for AT&T Collocator’s use at no additional cost to AT&T Collocator (in which case such notice shall also describe Tower Operator’s plans to relocate AT&T Communications
Equipment in a manner that shall result in no costs to AT&T Collocator and no interruption of AT&T Collocator’s business). 

(iv) If Tower Operator fails to timely deliver a Tower Operator Extension or Relocation Notice or AT&T
Collocator, in its reasonable discretion, determines that Tower Operator’s plans for an alternative site are not acceptable, the applicable AT&T Lessor or its Affiliate shall have the right, but not the obligation, to commence negotiations
with the applicable Ground Lessor under the expiring Ground Lease; provided, however, that such AT&T Lessor (and its Affiliates) may not commence such negotiations until the date that is two (2) years before the expiration
date of the applicable Ground Lease (or until the date that is six (6) months prior to the expiration date of the applicable Ground Lease in the case of a Ground Lease the Ground Lessor in respect of which is a Governmental Authority) and shall
act in good faith to not purposely adversely affect Tower Operator’s economic interests in the applicable Site at any time; provided, further, that such AT&T Lessor or its Affiliate must negotiate any extension on commercially
reasonable terms. Upon notice from the applicable AT&T Lessor that it intends to commence such negotiations, Tower Operator shall cease all efforts to negotiate an extension or renewal of the applicable Ground Lease and such AT&T Lessor or
its Affiliate may negotiate an extension or renewal of the applicable Ground Lease on commercially reasonable terms. If the applicable AT&T Lessor or its Affiliate completes the foregoing negotiations for, and executes, such Ground Lease

  
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extension or renewal, then such AT&T Lessor shall provide notice to Tower Operator of same (the “AT&T Lessor Extension Notice”) and this Agreement shall terminate as to
the applicable Site as of the day immediately preceding the commencement of such Ground Lease extension or renewal and shall have no further force and effect except for the obligations accruing prior to or as of the termination date for such Site,
unless the applicable AT&T Lessor or its Affiliate elects to compel Tower Operator to, or Tower Operator notifies such AT&T Lessor or its Affiliate within 30 days of its receipt of the AT&T Lessor Extension Notice that it elects to,
resume Tower Operator’s obligations under Section 4(a) and the MPL Site MLA to comply with all terms, covenants, conditions and provisions of such Ground Lease as if Tower Operator were the “ground lessee” under such Ground Lease
by notifying such AT&T Lessor of same; provided that the applicable AT&T Lessor or AT&T Ground Lease Party may compel Tower Operator to resume its obligations only if the terms of such Ground Lease comply with the standards set
forth on Schedule 5(d). If the applicable AT&T Lessor or AT&T Ground Lease Party elects to compel or if Tower Operator elects to resume its obligations under Section 4(a) and the MPL Site MLA, then (x) Tower Operator shall
reimburse the applicable AT&T Lessor or its Affiliate for all reasonable costs incurred in connection with the extension or renewal of such Ground Lease and shall be responsible for all incremental costs relating to such Ground Lease going
forward, (y) Tower Operator shall accept and comply with the terms of such Ground Lease as negotiated by such AT&T Lessor or its Affiliate and (z) this Agreement shall continue in full force and effect with respect to such Site as if
such extension or renewal was a Tower Operator Negotiated Renewal. 
 (v) The failure of Tower Operator to
provide a Tower Operator Extension or Relocation Notice shall not constitute an event of default or allow any AT&T Lessor or any AT&T Ground Lease Party to exercise remedies under this Agreement if the expiring Ground Lease is nevertheless
extended or renewed, or a new Ground Lease or similar arrangement is entered into, prior to the Ground Lease’s expiration. 

(vi) If Tower Operator does not extend or otherwise secure the tenure of a Ground Lease in accordance with this
Section 4(d), then this Agreement shall expire as to the Site to which such Ground Lease applies (but not with respect to any other Site) as of the day before the expiration date of the applicable Ground Lease and this Agreement shall have no
further force and effect as to such Site except for the obligations accruing prior to or as of the expiration date that are then unperformed (including, without limitation, in Section 9). 

(e) Acquisition of Ground Lease by Tower Operator Affiliate or AT&T Affiliate. In the event that Tower Operator or
its Affiliate acquires an interest in fee simple or an easement in the Land of any Site that is subject to a Ground Lease as of the Effective Date, Tower Operator or such Affiliate shall execute and deliver such documentation as is necessary to
create a ground lease with respect to such Site with the applicable AT&T Lessor for such Site (which ground lease shall be subject to the terms of this Agreement as the Ground Lease hereunder) for a term of no less than fifty (50) years
from the date of such acquisition (or, if earlier, the length of the applicable easement) and on other terms (including rent payment terms) 

  
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substantially the same as the terms of the applicable Ground Lease in effect as of the Effective Date. In the event that any AT&T Lessor or any of their Affiliates acquires an interest in fee
simple or an easement in the Land of any Site that is subject to a Ground Lease as of the Effective Date, the applicable AT&T Lessor or such Affiliate shall execute and deliver such documentation as is necessary to create a ground lease with
respect to such Site with the applicable AT&T Lessor for such Site (which ground lease shall be subject to the terms of this Agreement as the Ground Lease hereunder) for a term of no less than fifty (50) years from the date of such
acquisition (or, if earlier, the length of the applicable easement) and on other terms (including rent payment terms) substantially the same as the terms of the applicable Ground Lease in effect as of the Effective Date. 

SECTION 5. AT&T Lessor Rights and Obligations With Respect to the Ground Leases. 

(a) As to any Site, no AT&T Lessor or any other AT&T Group Member shall be deemed to have assumed any duty or
obligation of the Ground Lessor under the applicable Ground Lease and no AT&T Lessor or any other AT&T Group Member shall be liable or responsible in any manner whatsoever for any failure of such Ground Lessor to perform any such duty or
obligation. 
 (b) Upon receipt by any AT&T Lessor or any other AT&T Group Member of any notice of default or notice
of an act or omission that could with the passing of time or the giving of notice constitute an event of default under a Ground Lease or non-compliance with a term of a Ground Lease (a “Default Notice”), such AT&T Lessor shall,
within 10 Business Days after receipt of such Default Notice, provide Tower Operator with a copy of the Default Notice. If such default or non-compliance with a term of a Ground Lease is caused by any Person other than any AT&T Lessor, AT&T
Collocator or any other AT&T Group Member or any of their agents or employees, Tower Operator shall promptly cure or otherwise remedy such default or noncompliance at its sole cost and expense. If such default or non-compliance is caused by any
AT&T Lessor, AT&T Collocator or any other AT&T Group Member or any of their agents or employees, AT&T Lessors or AT&T Collocator shall cause such default or non-compliance to be cured or otherwise remedied at its sole cost and
expense. 
 (c) If Tower Operator does not pay all or any portion of the Ground Rent when due and payable, or if Tower
Operator breaches or commits a default under any other term of a Ground Lease, and either (x) Tower Operator is not diligently and in good faith contesting the same or (y) a Risk of Forfeiture exists as a result of the same, then the
applicable AT&T Lessor or AT&T Ground Lease Party may seek to cure such default under any applicable Ground Lease by making payment of the unpaid Ground Rent or performance of the breached or defaulted obligation to the applicable Ground
Lessors. Within 10 days following receipt of an invoice therefor, Tower Operator shall reimburse the applicable AT&T Lessor or AT&T Ground Lease Party for all such payment or performance by such AT&T Lessor or AT&T Ground Lease Party
under the Ground Lease. 

  
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 SECTION 6. Collocation Agreements with Third Parties. 

(a) Collocation Agreements Generally. Tower Operator acknowledges that, as to each Site, this Agreement is subject to
all Collocation Agreements currently in effect with respect to such Site. 
 (b) Collocation Agreements for Lease
Sites. In respect of each Lease Site, by execution of this Agreement as to the Initial Lease Sites and thereafter as of the Subsequent Closing Date for each additional Lease Site, the applicable AT&T Lessor does transfer, assign and convey
over unto Tower Operator, for the Term as to such Lease Site, all of its rights, title and interest in, to or under any Collocation Agreements affecting or relating to such Lease Site, and shall execute all documentation prepared by Tower Operator
or a Tower Subtenant and reasonably necessary to confirm same to a counterparty under a Collocation Agreement, at Tower Operator’s sole cost and expense within 15 Business Days of receipt of a request therefor from Tower Operator;
provided, however, that, if AT&T Lessor or an AT&T Ground Lease Party reasonably determines it to be unduly burdensome, such AT&T Lessor or AT&T Ground Lease Party shall not be required to obtain any new board
resolutions from any Person that is a corporation or similar resolutions or approvals from any Person that is a limited liability company, partnership, trust or other legal entity. In accordance with the provisions of Section 2(d), Tower
Operator may enter into waivers, amendments, extensions, renewals and any other documentation relating to any Collocation Agreements, to the extent they apply to the Lease Sites, or enter into new Collocation Agreements applicable to the Lease Sites
(collectively, the “Authorized Collocation Agreements Documents”). Each AT&T Lessor hereby assigns and delegates to Tower Operator the sole and exclusive right to perform the obligations of and assert and exercise the rights of
such AT&T Lessor under and enforce the terms of all Collocation Agreements with respect to Lease Sites subject to the provisions of Section 2(d). 

(c) Collocation Agreements for Managed Sites. In respect of each Managed Site, the applicable AT&T Lessor and each
AT&T Ground Lease Party does hereby (on its behalf and on behalf of any Affiliate thereof that is a party thereto) delegate all of its respective rights, duties, obligations and responsibilities under the Collocation Agreements to Tower Operator
for the Term as to such Site for periods occurring from and after the Effective Date, and shall execute all documentation reasonably requested and prepared by Tower Operator to confirm same to a counterparty under a Collocation Agreement, at Tower
Operator’s sole cost and expense within 15 Business Days of receipt of a request therefor from Tower Operator; provided, however, that, if AT&T Lessor or an AT&T Ground Lease Party reasonably determines it to be unduly
burdensome, such AT&T Lessor and each AT&T Ground Lease Party shall not be required to obtain any new board resolutions from any Person that is a corporation or similar resolutions or approvals from any Person that is a limited liability
company, partnership, trust or other legal entity. In accordance with the provisions of Section 2(d), Tower Operator may enter into waivers, amendments, extensions, restatements, renewals and any other documentation relating to any Collocation
Agreements, to the extent they apply to the Managed Sites, or enter into new Collocation Agreements applicable to the Managed Sites. Each AT&T Lessor hereby (i) assigns and delegates to Tower Operator the sole and exclusive right to perform
the obligations of and assert and exercise the rights of such AT&T Lessor and all AT&T Ground Lease Parties under all Collocation Agreements during the Term with respect to Managed Sites, subject to the provisions of Section 2(d), and
(ii) hereby grants Tower Operator a 

  
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limited power of attorney and hereby appoints Tower Operator as its attorney in fact to assert and exercise the rights of such AT&T Lessor and all AT&T Ground Lease Parties under all
Collocation Agreements during the Term. 
 (d) Tower Operator Assumption of Obligations and Benefits Under Collocation
Agreements. Tower Operator does hereby assume and agree to pay and perform all of the duties, obligations, liabilities and responsibilities of the AT&T Lessors and all AT&T Ground Lease Parties under the Collocation Agreements affecting
each Site arising from and after the Effective Date, except as otherwise expressly provided in this Agreement, and Tower Operator shall receive all revenue, rents, issues or profits payable under the Collocation Agreements accruing from and after
the Effective Date and all revenue, rents, issues or profits received with respect to such agreements on or prior to the Effective Date for or with respect to periods from and after the Effective Date. 

(e) End of Term. Unless Tower Operator exercises the Purchase Option with respect to a Site under Section 20, the
assignment by the applicable AT&T Lessor to Tower Operator of the Collocation Agreements in respect of each Site shall automatically terminate and expire and all Collocation Agreements (including, for clarity, Collocation Agreements entered into
by Tower Operator after the Effective Date) shall automatically be (or be deemed) reassigned or assigned, as the case may be, to such AT&T Lessor or its designee, and such AT&T Lessor or its designee shall accept such reassignment or
assignment, as the case may be, upon the expiration of the Term of, or earlier termination of, this Agreement in respect of such Site; provided, however, that the applicable AT&T Lessor or AT&T Ground Lease Party may refuse to
accept such reassignment or assignment of a Collocation Agreement if any Lien (other than any Lien (i) existing on the date of this Agreement and created by a Person other than Tower Operator, (ii) created by the AT&T Lessors or any of
their Affiliates or (iii) that does not diminish the value of such Collocation Agreement or the related Site) exists against such Collocation Agreement at the time of such reassignment or assignment and is not released or discharged upon the
consummation of such reassignment or assignment. Tower Operator shall execute all documentation reasonably necessary to confirm such reassignment or assignment, as the case may be, to a counterparty under a Collocation Agreement, at AT&T
Lessor’s sole cost and expense; provided, however, that, if Tower Operator reasonably determines it to be unduly burdensome, Tower Operator shall not be required to obtain any new board resolutions from any Person that is a
corporation or similar resolutions or approvals from any Person that is a limited liability company, partnership, trust or other legal entity. 

(f) New Collocation Agreements. Subject to Section 2(d), Tower Operator shall be permitted to negotiate and enter
into, amend or modify any Collocation Agreements in its sole discretion, without the consent of any AT&T Lessor; provided, however, that such Collocation Agreements must comply with the requirements set forth in
Section 2(d)(C). 
 SECTION 7. Tower Operator Permitted Use. 

(a) Tower Operator shall use, and shall permit the use of, the Included Property of each Site only for the Permitted Use. 

  
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 (b) Each AT&T Lessor shall reasonably cooperate with Tower Operator, at Tower
Operator’s sole cost and expense, in executing documentation related to any easement or right of way necessary for Site-related utilities or otherwise required in connection with the operation by Tower Operator of any Site for the Permitted
Use; provided, however, that such easement or right of way shall not materially and adversely affect AT&T Collocator’s operation, use or enjoyment of the AT&T Collocation Space on the applicable Site. 

SECTION 8. Tower Operator Access. Except to the extent limited by any restrictions contained in any applicable
Ground Lease, the Permitted Liens, the MPL Site MLA, this Agreement or by Law, the interest or rights of Tower Operator in or to each Site under this Agreement includes, as an appurtenance thereto, a non-exclusive right for access to the Included
Property of each Site on a 24-hour, seven day per week basis, on foot or motor vehicle, including trucks and other heavy equipment. The Parties acknowledge and agree that the right to access any portion of the Included Property of each Site granted
pursuant to this Section 8 shall be granted to Tower Operator and its authorized contractors, subcontractors, engineers, agents, advisors, consultants, representatives, or other persons authorized by Tower Operator, and to Tower Subtenants,
subject to any restrictions contained in the applicable Ground Lease, the Permitted Liens, the MPL Site MLA, this Agreement or by Law. 

SECTION 9. Term and End of Term Obligations. 

(a) Term. The term of this Agreement, as to each Lease Site, shall commence on the Effective Date with respect to the
Initial Lease Sites and on the Subsequent Closing Date with respect to all other Lease Sites, and in each case shall expire on the applicable Site Expiration Date, subject to the termination provisions of Section 29, Section 35 and
Section 36 and the other provisions of this Agreement. The term of this Agreement, as to each Managed Site, shall commence on the Effective Date and shall expire on the applicable Site Expiration Date, subject to the termination provisions of
Section 29, Section 35 and Section 36 and the other provisions of this Agreement; provided, however, that as of a Subsequent Closing Date under the terms of the Master Agreement, such Managed Site shall become a Lease
Site hereunder, and no further instrument shall be required to evidence such conversion; provided further, however, that upon the request of any Party, the Parties shall promptly execute such instruments as may be reasonably required
to further evidence such conversion. This Agreement shall remain in full force and effect until the expiration or earlier termination of the term of this Agreement as to all Sites. 

(b) Assignment, Restoration and Removal. 

(i) Upon the expiration or earlier termination of the Term as to any Site due to expiration or termination of
any Ground Lease, the applicable AT&T Lessor or AT&T Ground Lease Party shall transfer such Site to Tower Operator in accordance with and as described in Section 20(c), subject to the applicable AT&T Lessor’s or AT&T Ground
Lease Party’s receipt of any consent required for such assignment (which such AT&T Lessor or AT&T Ground Lease Party shall use commercially reasonable efforts to obtain), whereupon the applicable AT&T Lessor or AT&T Ground Lease
Party shall be released from any and all further obligations under such Ground Lease and under this Agreement in respect of such Site (including, without limitation, Section 20), and 

  
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Tower Operator hereby acknowledges and consents to such release. Notwithstanding the foregoing or any provision herein to the contrary, the applicable AT&T Lessor or AT&T Ground Lease
Party shall remove any ground-based electronics, batteries, fuel tanks and Hazardous Materials from each Site that were introduced or employed by AT&T Collocator or another AT&T Group Member or under any of their supervision or direction by
or before the expiration or earlier termination of the Term as to any Site due to expiration or termination of any Ground Lease. 

(ii) If the applicable AT&T Lessor or AT&T Ground Lease Party cannot assign its ownership interest in a
Site to Tower Operator in accordance with Section 9(b)(i), then upon the expiration or earlier termination of the Term as to any Site, and if required by the applicable Ground Lease or otherwise reasonably necessary to prevent liability of the
applicable AT&T Lessor or AT&T Ground Lease Party to the Ground Lessor or any Governmental Authority, Tower Operator, if requested by the applicable AT&T Lessor or AT&T Ground Lease Party, shall, in accordance with instructions of
such AT&T Lessor or AT&T Ground Lease Party, within a reasonable period of time, but in no event less than the period of time as may be required under any applicable Ground Lease, (A) cause the Tower Subtenants on such Site to stop and
cease the operation of their respective Communications Equipment on such Site (unless prohibited by a Tower Subtenant’s Collocation Agreement entered into before the Effective Date and not amended or modified by or its term extended by Tower
Operator after the Effective Date) and (B) remove the Tower and any Improvements (whether or not constituting Severable Modifications) other than AT&T Improvements from such Site and otherwise restore such Site to the condition required
under the applicable Ground Lease or applicable Law. 
 (iii) The Tower and any Improvements so removed (to
the extent not constituting Severable Modifications of Tower Operator) shall either be (A) delivered by Tower Operator to any Person designated by the applicable AT&T Lessor or AT&T Ground Lease Party for disposition by such AT&T
Lessor or AT&T Ground Lease Party or its designee, who shall reimburse Tower Operator for its cost of removal thereof, in an amount not to exceed the net sales proceeds such Person receives from the dispositions thereof, if any, or (B) sold
or otherwise disposed of by Tower Operator, and the net proceeds of such sale or other disposition after deducting Tower Operator’s cost of removal thereof shall be paid to the applicable AT&T Lessor or AT&T Ground Lease Party when and
as received by Tower Operator. 
 (iv) Any Severable Modifications not removed by Tower Operator within such
30-day period shall, at the applicable AT&T Lessor’s or AT&T Ground Lease Party’s option, be deemed abandoned by Tower Operator and title to such Severable Modifications shall automatically, without further action, vest in such
AT&T Lessor or AT&T Ground Lease Party; provided, however, that Tower Operator shall remain liable for the costs of removal of such Severable Modifications. 

(c) No Refund or Credit for Rent or Pre-Lease Rent. Except as otherwise expressly provided in the Master Agreement, in
the event of the expiration or termination of the Term as to any Site prior to its applicable Site Expiration Outside Date, and without limiting any 

  
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of Tower Operator’s other rights or remedies hereunder or under the Master Agreement or any Collateral Agreement, Tower Operator shall have no right or claim to any refund or credit of any
portion of the prepaid Rent or Pre-Lease Rent for any Site. 
 (d) Additional End of Term Obligations. Upon the
expiration or termination of the Term as to any Site (other than as a result of the conversion of such Managed Site to a Lease Site hereunder), if Tower Operator has not exercised its Purchase Option with respect to such Site, Tower Operator shall
(i) if requested by the applicable AT&T Lessor or AT&T Ground Lease Party, deliver or cause to be delivered to such AT&T Lessor or AT&T Ground Lease Party, at such AT&T Lessor’s or AT&T Ground Lease Party’s
sole cost and expense, (A) copies of all written (and effective) Ground Leases, Collocation Agreements and material Governmental Approvals solely related to such Site or, to the extent not solely related, appropriate extracts thereof, that are
in effect and in its possession and (B) copies of, or extracts from, all current files and records of Tower Operator solely related to the ownership, occupancy or leasing of such Site or, to the extent not so solely related, appropriate
extracts thereof (including a current rent roll and a list of current expenditures and the payees thereof); provided, however, that to the extent such documents are customarily maintained in electronic form accessible through commonly
used business software, Tower Operator may deliver such documents in electronic form, except privileged or confidential documents or where such disclosure is prohibited by Law, (ii) assign to such AT&T Lessor or AT&T Ground Lease Party,
at such AT&T Lessor’s or AT&T Ground Lease Party’s sole cost and expense, all Collocation Agreements, (iii) deliver notices of the expiration of the Term to any Ground Lessor and any counterparty to a Collocation Agreement, as
applicable and as directed by such AT&T Lessor or AT&T Ground Lease Party, (iv) execute, at such AT&T Lessor’s or AT&T Ground Lease Party’s sole cost and expense, any recordable documentation required by such AT&T
Lessor or AT&T Ground Lease Party in order to terminate any Memorandum of Site Lease Agreement with respect to such Sites, (v) use commercially reasonable efforts to provide to such AT&T Lessor or AT&T Ground Lease Party transition
services of the type such AT&T Lessor or AT&T Ground Lease Party or their Affiliates are providing to Tower Operator in the Transition Services Agreement on commercially reasonable and then prevailing market terms, (vi) reasonably
cooperate in good faith with such AT&T Lessor or AT&T Ground Lease Party to effect the efficient and orderly transition of possession, operation, regulatory compliance records, use or occupancy (as applicable) of such Sites and the related
collocation business and (vii) enter into such agreements as are reasonably necessary to appropriately bifurcate the rights, interests, duties and obligations of Tower Operator under the Collocation Agreements. 

SECTION 10. Tower Operator Rent and Pre-Lease Rent; Treatment for US Federal Income Tax Purposes. 

(a) Rent Payments. Tower Operator, or an Affiliate of Tower Operator on its behalf, shall pay the AT&T Lessors
(i) the Rent in respect of the Included Property of each Initial Lease Site for the entire Term as to such Lease Site in a single upfront payment on the Effective Date, which payment is set forth on Exhibit C hereto and (ii) the Pre-Lease
Rent in respect of the Included Property of each Managed Site for the entire Term as to such Managed Site in a single upfront payment on the Effective Date, which payment is set forth on Exhibit C hereto. Tower Operator agrees that the Rent and the
Pre-Lease Rent are non-refundable and that Tower Operator shall have no right of abatement, reduction, setoff, counterclaim, rescission, 

  
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recoupment, refund, defense or deduction with respect thereto, including in connection with any event of default by any AT&T Lessor, AT&T Collocator or their respective Affiliates or any
casualty or condemnation except as otherwise expressly provided in this Agreement or the Master Agreement. 
 (b) Fixed
Rent for Tax Purposes. Pre-Lease Rent and Rent are intended to constitute “fixed rent” (as such term is defined in Treasury Regulation § 1.467-1(h)(3)). 

(c) Tax Allocation of Rent. The Rent and Pre-Lease Rent shall be specifically allocated to each period for use of the
Lease Sites and Managed Sites, as the case may be, as set forth in Exhibit D (“Allocated Rent”); provided, however, that if any Managed Site becomes a Lease Site as a result of a Subsequent Closing, then the remaining
portion of the Pre-Lease Rent allocable to the periods from and after the Subsequent Closing Date shall thereafter be allocated to and constitute Rent for the applicable Site for the corresponding periods after such Subsequent Closing Date;
provided, further, that such re-allocation of Pre-Lease Rent shall not be done in a manner that causes this Agreement to be a disqualified leaseback or disqualified long term agreement under Treasury Regulation § 1.467-3.
Notwithstanding that Rent and Pre-Lease Rent shall be payable in accordance with Section 10(a), and without limiting the Tower Operator’s obligations under Section 10(a), for federal income Tax purposes only, the Allocated Rent
allocated pursuant to this Section 10(c) shall represent and be the amount of Rent or Pre-Lease Rent, as applicable, for which Tower Operator becomes liable on account of the use of each applicable Site for each calendar year, in whole or in
part, of the Term. 
 (d) Code Section 467 Provisions. It is the intention of the Parties that the allocation of
Rent or Pre-Lease Rent to each Rent Payment Period as provided in Exhibit D constitutes a specific allocation of fixed rent within the meaning of Treasury Regulation § 1.467-1(c)(2)(ii)(A), with the effect that pursuant to Treasury Regulations
§§ 1.467-1(d) and 1.467-2, the AT&T Lessors and Tower Operator, on any federal income Tax returns filed by each of them (or on any federal income Tax returns (and any state and local income Tax returns that follow the reporting on the
relevant party’s federal income Tax return) on which their income is included), will accrue the amounts of rental income and rental expense, respectively, set forth for each Rent Payment Period in Exhibit D under the caption “Proportional
Rent” (the “Proportional Rent”) and will include such amounts in income for each taxable year in accordance with Treasury Regulation § 1.467-1(d)(1). Because there will be a difference from time to time between
(i) the cumulative amount of Rent (or Pre-Lease Rent paid by Tower Operator (as set forth in Section 10(a)) and (ii) the cumulative amount of Rent and Pre-Lease Rent allocated pursuant to Section 10(c) solely for purposes of
determining the AT&T Lessors’ and Tower Operator’s Tax consequences under Section 467 of the Code and for no other purpose, there shall be considered to exist a loan from Tower Operator to the applicable AT&T Lessor for
purposes of Section 467 of the Code with respect to each Site, the amount of which is based on the difference between the cumulative amount of the Rent and Pre-Lease Rent paid by Tower Operator and the cumulative amount of the Proportional Rent
accrued by Tower Operator adjusted to account for an interest component, as provided in Treasury Regulation § 1.467-4(b)(1), which amount is set forth in Exhibit D under the caption “Section 467 Loan” (the “Section 467
Loan”). Such positive amount represents a loan to the applicable AT&T Lessor and such AT&T Lessor shall deduct interest expense and Tower Operator shall accrue interest income, in each case, in an amount equal to that set forth in
Exhibit D under the caption “Section 467 Interest” for the applicable 

  
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Rent Payment Period. All Section 467 Interest and principal in respect thereof, Proportional Rent and Allocated Rent are already included as part of Rent, are payable as a portion thereof,
and have been taken into account in the calculation of the percentages set forth under the heading “Rent Percentage” on Exhibit D. In no event shall any principal or interest on any Section 467 Loan, or any Proportional Rent or
Allocated Rent be separately payable as such (including upon any termination of this Agreement with respect to a Site), it being agreed and understood that these items represent characterizations for federal income Tax purposes only, including in
any case of termination of this Agreement. 
 (e) Termination, Tax Allocations and Section 467 Loans. In
connection with any termination of this Agreement with respect to any Site for any reason, Allocated Rent for such Site shall cease to accrue and the Section 467 Loan balance (including all accrued interest thereon) for such Site shall be
deemed to be repaid for all purposes. 
 (f) Net Lease. This Agreement, insofar as it relates to the lease or the use
and operation by Tower Operator of any Site or the Included Property on any Site, is a net lease by Tower Operator. 

SECTION 11. Condition of the Sites and Obligations of Tower Operator. 

(a) Repair and Maintenance Obligations of Tower Operator. Tower Operator has the obligation, right and responsibility
to repair and maintain each Site in accordance with tower industry standards, including an obligation to maintain the structural integrity of all of the Towers and to ensure that all of the Towers have at all times the structural loading capacity to
hold and support all Communications Equipment then mounted on the Tower. Tower Operator shall maintain and conduct, annually and on a rolling basis, a regularly scheduled tower inspection program that meets or exceeds tower industry standards, and
Tower Operator shall provide AT&T Collocator, upon AT&T Collocator’s request from time to time, but not to be more frequently than on a quarterly basis, with a summary of the results of such inspection (which summary may be provided in
electronic form). Subject to the other provisions contained in this Agreement, Tower Operator, at its sole cost and expense, shall monitor (including tower marking/lighting systems and alarms, if required), maintain, reinforce and repair each Site
such that AT&T Collocator and Tower Subtenants may utilize such Site to the extent permitted in this Agreement. 
 (b)
Compliance with Laws. Tower Operator’s installation, maintenance and repair of each Site shall comply in all material respects with all Laws and shall be performed in a manner consistent with or superior to the general standard of care
in the tower industry. Tower Operator assumes all responsibilities, as to each Site, for any fines, levies or other penalties that are imposed as a result of non-compliance, commencing from and after the Effective Date with requirements of the
applicable Governmental Authorities; provided, that AT&T Lessor shall be responsible for the portions of all such fines, levies or other penalties that are imposed for, or relating to, periods prior to the Effective Date and relate to
non-compliance that existed prior to or on the Effective Date. AT&T Lessor assumes all responsibilities, as to each Site, for any fines, levies or other penalties imposed as a result of AT&T Lessor’s non-compliance from and after the
Effective Date with such requirements of the applicable Governmental Authorities unless due to Tower Operator’s failure to perform its obligations under this Agreement or the MPL Site 

  
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MLA. Without limiting the foregoing, Tower Operator, at its own cost and expense, shall make (or cause to be made) all Modifications to the Sites as may be required from time to time to meet in
all material respects the requirements of applicable Laws. 
 (c) Access. Tower Operator agrees to maintain access
roads to the Sites in such order and repair as would be required in accordance with tower industry standards and agrees not to take any action (except as required by Law, a Governmental Authority, a Ground Lease, a Collocation Agreement or any other
agreement affecting the Site) that would materially diminish or impair any means of access to any Site existing as of the Effective Date. In the event that the applicable AT&T Lessor requires access to a Site but snow or some other obstruction
on or in the access area is preventing or materially hindering access to the Site, and provided the Ground Lessor is not obligated to maintain access to such Site, Tower Operator shall use commercially reasonable efforts to arrange, at its sole cost
and expense, to have such snow or other obstruction removed within 48 hours of notice therefrom from such AT&T Lessor. In the event that access to any Site is controlled by a Ground Lessor or other third party, Tower Operator will use
commercially reasonable efforts to coordinate with such Ground Lessor or other third party to cause the applicable AT&T Lessor to have access consistent with this Section 11(c). 

SECTION 12. Tower Operator Requirements for Modifications; Title to Modifications; Work on the Site. 

(a) Subject to the requirements of this Section 12 (and the limitations set forth in Section 34(a)(ii)(D)-(E)),
Tower Operator may from time to time make such Modifications as Tower Operator elects, including the addition or removal of land, construction, modification or addition to the Tower or other Improvements or any other structure or the reconstruction,
replacement or alteration thereof; provided that Tower Operator shall provide not less than ten (10) Business Days’ notice to the applicable AT&T Lessor or AT&T Ground Lease Party if such Modification adversely affects such
AT&T Lessor or AT&T Ground Lease Party. Notwithstanding anything to the contrary contained herein, in no event may Tower Operator make any Modification to, or materially adversely affecting, any AT&T Improvement or modify or replace any
AT&T Communications Equipment except in the event of an Emergency as to which Tower Operator is not the cause or source (and, in such an Emergency, Tower Operator shall make reasonable efforts to notify the AT&T Lessors prior to taking such
actions and shall reimburse AT&T Collocator for any damage caused by Tower Operator or its agents; provided that if (i) any of AT&T Lessor, AT&T Collocator or any other AT&T Group Member or (ii) any AT&T
Communications Equipment or AT&T Improvements are determined to be the cause or source of an Emergency, AT&T Collocator shall be responsible and shall reimburse Tower Operator for all costs and expenses related to such Emergency). Title to
each Modification shall without further act or instrument vest in the applicable AT&T Lessor or AT&T Ground Lease Party and be deemed to constitute a part of the Site and be subject to this Agreement if, but only if, such Modification is
required pursuant to Section 6(a) of the MPL Site MLA or is a Non-Severable Modification; provided, however, if Tower Operator exercises its Purchase Option with respect to such Site, title to all Modifications will transfer to
Tower Operator. Title to all other Modifications shall vest in Tower Operator. 

  
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 (b) Whenever Tower Operator or any Tower Operator Indemnitee makes Modifications
to any Site or installs, maintains, replaces or repairs any Tower Operator Equipment or Improvements, or permits Tower Subtenants (or any Tower Subtenant Related Party) to install, maintain, replace or repair any Tower Subtenant Communications
Equipment or Tower Subtenant Improvement (collectively, the “Tower Operator Work”), the following provisions shall apply: 

(i) No Tower Operator Work shall be commenced until Tower Operator has obtained all Governmental Approvals
necessary for such Tower Operator Work, from all Governmental Authorities having jurisdiction with respect to any Site or such Tower Operator Work. Each AT&T Lessor shall reasonably cooperate with Tower Operator, at Tower Operator’s sole
cost and expense, as is reasonably necessary for Tower Operator or a Tower Subtenant to obtain such Governmental Approvals. 

(ii) No Tower Operator Work may be performed in violation of Section 12(a). 

(iii) Tower Operator shall (or shall require Tower Subtenant to) commence and perform the Tower Operator Work
in accordance with then-current tower industry standards. 
 (iv) Tower Operator shall require the Tower
Operator Work to be done and completed in compliance in all material respects with all Laws. 
 (v) All Tower
Operator Work shall be performed at Tower Operator’s or the subject Tower Subtenant’s sole cost and expense and Tower Operator or the subject Tower Subtenant shall be responsible for payment of same. Tower Operator or the subject Tower
Subtenant shall provide and pay for all labor, materials, goods, supplies, equipment, appliances, tools, construction equipment and machinery and other facilities and services necessary for the proper execution and completion of the Tower Operator
Work. Tower Operator or the subject Tower Subtenant shall promptly pay when due all costs and expenses incurred in connection with the Tower Operator Work. Tower Operator or the subject Tower Subtenant shall pay, or cause to be paid, all fees and
Taxes required by Law in connection with the Tower Operator Work. Tower Operator may pass on any of the foregoing costs and expenses in whole or in part to a Tower Subtenant. 

SECTION 13. Tower Operator’s Obligations With Respect to Tower Subtenants. 

(a) Tower Subtenant Communications Equipment in Violation of Laws. If Tower Operator obtains knowledge that any Tower
Subtenant has installed or operates any Communications Equipment in violation of any applicable Law, Tower Operator shall enforce all remedies available to it under the applicable Collocation Agreement or as otherwise provided by Law to cause such
Tower Subtenant to come into compliance with all applicable Laws as promptly as practicable. 
 (b) Rights of Tower
Subtenants under Collocation Agreements. Notwithstanding anything to the contrary contained herein, the obligations of Tower Operator 

  
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hereunder as to any Site are subject to any limitations imposed by any applicable Law and to the rights of any Tower Subtenant under any Collocation Agreement in existence as of the Effective
Date at such Site. To the extent that any such Collocation Agreement or any applicable Law prohibits Tower Operator from performing the obligations of Tower Operator hereunder, then, for so long as such limitation is applicable, Tower Operator shall
be required to perform such obligations only to the extent not so prohibited and shall have no liability with respect thereto to AT&T Lessors. 

SECTION 14. Limitations on Liens. 

(a) Other than as expressly permitted by the Transaction Documents, Tower Operator agrees that, during the Term, it shall not
directly or indirectly, without the written consent of the applicable AT&T Lessor, which consent shall not be unreasonably conditioned, withheld or delayed, incur, grant or permit to exist (and shall cause its Affiliates, contractors and their
subcontractors, and shall use commercially reasonable efforts to cause Tower Subtenants and their contractors and subcontractors, not to incur, grant or permit to exist) any Liens against any Site or any part of any Site (other than Tower Operator
Permitted Liens). If any such Lien created or permitted by Tower Operator (other than Tower Operator Permitted Liens) is filed against all or any part of any Site without the applicable AT&T Lessor’s or AT&T Ground Lease Party’s
prior written consent, or any Lien described in clauses (i), (ii) or (viii) of the definition of “Tower Operator Permitted Lien” ceases to be a Tower Operator Permitted Lien by reason of the commencement of a foreclosure,
distraint, sale or similar proceeding, Tower Operator shall be required to cause such Lien to be discharged by payment, satisfaction or posting of bond within 30 days after Tower Operator has obtained knowledge of such Lien (and in any event prior
to any loss or forfeiture) except as expressly permitted in connection with a contest of such Lien in accordance with Section 14(b). If Tower Operator fails to cause any Lien not being contested as provided in Section 14(b) (other than
Tower Operator Permitted Liens) to be discharged within the permitted time and a Risk of Forfeiture exists as a result of such Lien, the applicable AT&T Lessor or AT&T Ground Lease Party may cause it to be discharged and may pay the amount
of such Lien in order to do so, and shall be reimbursed therefor by Tower Operator within 10 days after such payment. For the avoidance of doubt, and notwithstanding anything to the contrary in this Agreement, nothing herein shall in any way affect
or impair (i) Tower Operator’s ability to incur, grant or permit to exist any Liens on any revenue, rents, issues or profits derived from the Sites (including under or pursuant to any Collocation Agreements) or (ii) the ability of any
parent company of Tower Operator to pledge any equity interests in Tower Operator. 
 (b) To the extent not prohibited under
any applicable Ground Lease, Tower Operator may, at Tower Operator’s sole cost and expense, in its own name and on its own behalf or in the name of and on behalf of the applicable AT&T Lessor, diligently and in good faith, contest any claim
of Lien and, in the event of any such contest, may permit such claim of Lien so contested to remain unpaid, unsatisfied and undischarged during the period of such contest and any appeal from such contest; provided, however, that if a
Risk of Forfeiture exists by virtue of or by reason of such claim of Lien, such claim shall be complied with as promptly as practicable, but in any event prior to any loss or forfeiture. Each AT&T Lessor, at the sole cost and expense of Tower
Operator, shall use commercially reasonable efforts to cooperate fully with Tower Operator in any such contest. 

  
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 (c) Any Secured Tower Operator Loan (including any Mortgage executed in
connection therewith) shall be subject to each and every term, covenant, condition, agreement, requirement, restriction and provision set forth in this Agreement. Tower Operator shall notify AT&T Lessors in writing promptly following the
satisfaction, repayment or termination of any Secured Tower Operator Loan that has been afforded the protections set forth in Section 21. 

SECTION 15. Tower Operator Indemnity; AT&T Lessor Indemnity; Procedure For All Indemnity Claims. 

(a) Tower Operator Indemnity. 

(i) Without limiting Tower Operator’s other obligations under this Agreement, Tower Operator agrees to
indemnify, defend and hold each AT&T Indemnitee harmless from, against and in respect of any and all Claims (other than Claims that the subject of, or are addressed by, paragraphs (ii) through (iv) of this Section 15(a)) that
arise out of or relate to: 
 (A) any default, breach or nonperformance by Tower Operator of its obligations
and covenants under this Agreement; 
 (B) the (x) ownership or (y) use, operation, maintenance or
occupancy (other than the use, operation, maintenance or occupancy by any AT&T Indemnitee), in each case, of any part of a Site from and after the Effective Date, including all obligations that relate to or arise out of any Ground Lease from and
after the Effective Date; 
 (C) any work at a Site performed by or at the direction of a Tower Operator
Indemnitee; 
 (D) the acts or omissions of a Tower Operator Indemnitee or any of its engineers, contractors
or subcontractors; and 
 (E) all brokers, agents and other intermediaries alleging a commission, fee or
other payment to be owing by reason of their respective dealings, negotiations or communications with Tower Operator and its Affiliates, agents, employees, engineers, contractors, subcontractors, licensees or invitees in connection with this
Agreement. 
 Notwithstanding the foregoing, Tower Operator will (x) only be obliged to indemnify, defend and hold the AT&T
Indemnitees harmless from, against and in respect of Claims arising from or relating to any default, breach or nonperformance of Section 2(d) (other than clause (A)(y) of the last sentence of Section 2(d)(i)) in the event that the Purchase
Option with respect to the applicable Site is not exercised by the Tower Operator in accordance with the MPL and (y) not be obliged to indemnify, defend and hold the AT&T Indemnitees harmless from, against and in respect of Claims arising
from or relating to any default, breach or nonperformance of any term of this Agreement that requires Tower Operator to comply in all respects with any applicable Law (including, for the avoidance of doubt, any applicable Environmental Law) or any
Ground Lease if (1) Tower Operator complies with such Law or such Ground Lease, as applicable, in all 

  
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material respects and (2) no claims, demands, assessments, actions, suits, fines, levies or other penalties have been asserted against or imposed on AT&T Lessor by any Governmental
Authority as a result of Tower Operator’s non-compliance in all respects with such Law or by the applicable Ground Lessor as a result of Tower Operator’s non-compliance in all respects with such Ground Lease. 

(ii) In the event that (A) Tower Operator shall have extended a Ground Lease with respect to a Site beyond
the applicable Site Expiration Outside Date, (B) Tower Operator shall not have exercised the Purchase Option with respect to such Site and (C) AT&T Collocator shall have vacated such Site, Tower Operator further agrees to indemnify,
defend and hold each AT&T Indemnitee harmless from, against and in respect of all Claims, costs and expenses that are incurred by the applicable AT&T Lessor from and after the Site Expiration Outside Date for such Site until the earliest
scheduled expiration of such Ground Lease (without giving effect to any further amendments, extensions or modifications thereof). 

(iii) In the event that (A) Tower Operator shall enter into a new Collocation Agreement or extend an
existing Collocation Agreement, in each case that extends beyond the applicable Site Expiration Outside Date of the Site to which such Collocation Agreement relates, (B) Tower Operator shall not have exercised the Purchase Option with respect
to the Site to which such Collocation Agreement relates and (C) such Collocation Agreement is not on commercially reasonable terms with respect to the period following the Site Expiration Outside Date, Tower Operator further agrees to
indemnify, defend and hold each AT&T Indemnitee harmless for such Collocation Agreement (without giving effect to any amendment, extension or modification thereof by any Person other than Tower Operator or any of its Affiliates), but only with
respect to the period following the applicable Site Expiration Outside Date (and only if such agreement cannot be terminated by the applicable AT&T Lessor without cost or penalty). 

(iv) In the event that Tower Operator does not exercise the Purchase Option with respect to any Purchase Site,
Tower Operator shall indemnify, defend and hold the applicable AT&T Lessor or AT&T Ground Lease Party harmless for any losses incurred by such AT&T Lessor or AT&T Ground Lease Party as a result of the use of such Site by Tower
Operator in a manner outside of the uses contemplated by this Agreement that materially impairs or adversely affects such AT&T Lessor’s or AT&T Ground Lease Party’s right, title and interest in, to and under such Site or in a
manner that makes possible a claim of adverse possession by the public or a claim of implied dedication to the public with respect to such Site (it being understood, for the avoidance of doubt, that Tower Operator shall not have any obligation to
monitor or control the use of any Site by AT&T Collocator or its Affiliates and shall not be required to indemnify, defend or hold such AT&T Lessor and AT&T Ground Lease Party harmless with respect to any losses or Claims arising from or
relating to the use of any Site by AT&T Collocator or any of its Affiliates). 
 (v) Tower Operator
further agrees to indemnify, defend and hold each AT&T Indemnitee harmless under any other provision of this Agreement which expressly provides that Tower Operator shall indemnify, defend and hold harmless any

  
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AT&T Indemnitee with respect to the matters covered in such provision. 

(b) AT&T Lessor Indemnity. 

(i) Without limiting any AT&T Lessor’s other obligations under this Agreement, the AT&T Lessors
agree, jointly and severally, to indemnify, defend and hold each Tower Operator Indemnitee harmless from, against and in respect of any and all Claims that arise out of or relate to: 

(A) any default, breach or nonperformance of its obligations and covenants under this Agreement; 

(B) any AT&T Indemnitee’s ownership, use, operation, maintenance or occupancy of any AT&T
Communications Equipment or any portion of any Site (including the AT&T Collocation Space and any Reserved Property) in violation of the terms of the MPL Site MLA or any applicable Ground Lease; 

(C) any work at a Site performed by or at the direction of an AT&T Indemnitee (but not including any work
at any Site that Tower Operator is required to perform pursuant to this Agreement that AT&T Lessor elects to perform under Section 28); 

(D) the acts or omissions of an AT&T Indemnitee or any of their respective engineers, contractors or
subcontractors; and 
 (E) all brokers, agents and other intermediaries alleging a commission, fee or other
payment to be owing by reason of their respective dealings, negotiations or communications with any AT&T Lessor or its agents, employees, engineers, contractors, subcontractors, licensees or invitees in connection with this Agreement. 

(ii) AT&T Lessors further agree, jointly and severally, to indemnify, defend and hold each Tower Operator
Indemnitee harmless under any other provision of this Agreement which expressly provides that any AT&T Lessor shall indemnify, defend and hold harmless any Tower Operator Indemnitee with respect to the matters covered in such provision. 

(c) Indemnification Claim Procedure. 

(i) Any Indemnified Party shall promptly notify the Party or Parties alleged to be obligated to indemnify (the
“Indemnifying Party”) in writing of any relevant pending or threatened Claim by a third party (a “Third Party Claim”), describing in reasonable detail the facts and circumstances with respect to the subject matter
of the Claim; provided, however, that delay in providing such notice shall not release the Indemnifying Party from any of its obligations under Section 15(a) or Section 15(b), except to the extent (and only to the extent) the
delay actually and materially prejudices the Indemnifying Party’s ability to defend such Claim. 

  
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 (ii) The Indemnifying Party may assume and control the defense of
any Third Party Claim with counsel selected by the Indemnifying Party that is reasonably acceptable to the Indemnified Party by accepting its obligation to defend in writing and agreeing to pay defense costs (including reasonable out-of-pocket
attorney’s fees and expenses) within 30 days of receiving notice of the Third Party Claim. If the Indemnifying Party declines, fails to respond to the notice, or fails to assume defense of the Third Party Claim within such 30-day period, then
the Indemnified Party may control the defense and the Indemnifying Party shall pay all reasonable out-of-pocket defense costs as incurred by the Indemnified Party. The Party that is not controlling the defense of the Third Party Claim shall have the
right to participate in the defense and to retain separate counsel at its own expense. The Party that is controlling the defense shall use reasonable efforts to inform the other Party about the status of the defense. The Parties shall cooperate in
good faith in the defense of any Third Party Claim. Notwithstanding the foregoing, the Indemnifying Party shall not be entitled to assume the defense of any Third Party Claim (and shall be liable for the reasonable out-of-pocket fees and expenses of
counsel incurred by the Indemnified Party in defending such Third Party Claim) if the Third Party Claim seeks an order, injunction or other equitable relief or relief for other than money damages against the Indemnified Party that the Indemnified
Party reasonably determines, after conferring with its outside counsel, cannot reasonably be separated from any related claim for money damages. If such equitable relief or other relief portion of the Third Party Claim can be so separated from that
for money damages, the Indemnifying Party shall be entitled to assume the defense of the portion relating to money damages. 

(iii) The Indemnifying Party shall not consent to a settlement of, or the entry of any judgment arising out of
or in connection with, any Third Party Claim, without the consent of any Indemnified Party; provided, however, that the Indemnified Party shall not withhold its consent if such settlement or judgment involves solely the payment of
money, without any finding or admission of any violation of Law or admission of any wrongdoing. The Indemnifying Party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such
settlement and obtain, as a condition of any settlement or judgment, a complete and unconditional release of each relevant Indemnified Party from any and all liability in respect of such Third Party Claim. 

(iv) For indemnification Claims other than Third Party Claims, the Indemnified Party promptly shall notify the
Indemnifying Party in writing of any Claim for indemnification, describing in reasonable detail the basis for such Claim. Within 30 days following receipt of this notice, the Indemnifying Party shall respond, stating whether it disputes the
existence or scope of an obligation to indemnify the Indemnified Party under this Section 15. If the Indemnifying Party does not respond within 30 days, the Indemnified Party shall send a second notice to the Indemnifying Party, marked at the
top in bold lettering with the following language: “A RESPONSE IS REQUIRED WITHIN FIVE (5) BUSINESS DAYS OF RECEIPT OF THIS NOTICE PURSUANT TO THE TERMS OF A MASTER PREPAID LEASE WITH THE UNDERSIGNED AND FAILURE TO RESPOND SHALL RESULT IN
YOUR RIGHT TO OBJECT BEING WAIVED” and the envelope containing the request must be marked 

  
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“PRIORITY”. If the Indemnifying Party does not notify the Indemnified Party within such 5 Business Days after the receipt of such second notice that the Indemnifying Party disputes its
liability to the Indemnified Party under Section 15(a) or Section 15(b), as applicable, such Claim specified by the Indemnified Party in such notice shall be conclusively deemed a liability of the Indemnifying Party under
Section 15(a) or Section 15(b), as applicable, and the Indemnifying Party shall pay the amount of such Claim to the Indemnified Party on demand or, in the case of any notice in which the amount of the Claim (or any portion thereof) is
estimated, on such later date when the amount of such claim (or such portion thereof) becomes finally determined. If the Indemnifying Party timely disputes the existence or scope of an obligation to indemnify for the Claim, it shall explain in
reasonable detail the basis for the dispute. If the Parties disagree on the scope or existence of an indemnification obligation for the Claim, management representatives of the Indemnified Party and the Indemnifying Party shall meet or confer by
telephone within 20 Business Days in an attempt in good faith to resolve such dispute. If such Persons are unable to resolve the dispute, either Party may act to resolve the dispute in accordance with Section 37(b). 

(d) During the Term, for any dispute or litigation that arises during the Term in connection with any Ground Lessor, Ground
Lease, Collocation Agreement, Tower Subtenant or any other issue relating to the operation of the Sites (collectively, “Disputes”), Tower Operator shall have the right to control, prosecute, settle or compromise such Disputes;
provided, however, that Tower Operator shall not settle or compromise such Disputes (i) for which Tower Operator is seeking a claim for indemnification under the Master Agreement except in compliance with the terms, conditions and
procedures set forth in the Master Agreement or (ii) if the settlement or compromise involves an admission of any violation of Law or admission of wrongdoing by any AT&T Group Member, without the AT&T Lessors’ consent, which may be
granted or withheld in the AT&T Lessors’ sole discretion. 
 (e) The provisions of this Section 15 do not
apply to any Claim for Taxes. 
 SECTION 16. Tower Operator’s Waiver of Subrogation; Insurance. 

(a) Mutual Waiver of Subrogation. To the fullest extent permitted by applicable Law, Tower Operator and each AT&T
Lessor each hereby waives any and all rights of recovery, claim, action or cause of action against the other and the other’s Affiliates, for any loss or damage that occurs or is claimed to occur to its property at any Site, by reason of any
cause insured against, or required to be insured against, by the waiving party under the terms of this Agreement, regardless of cause or origin. In addition, Tower Operator and each AT&T Lessor shall each ensure that any property insurance
policy it carries with respect to each Site shall provide that the insurer waives all rights of recovery, claim, action or cause of action by way of subrogation against any other Party with respect to Claims for damage to property covered by such
policy. 
 (b) Tower Operator Insurance. Tower Operator shall procure, and shall maintain in full force and effect at
all times during the Term as to such Site, the following types of insurance with respect to such Site, including the Tower and Improvements on such Site (but excluding AT&T Communications Equipment or any other Tower Subtenant’s
Communications 

  
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Equipment), paying as they become due all premiums for such insurance (it being understood that the insurance required under this Section 16(b) does not represent all coverage or limits
necessary to protect Tower Operator or a limitation of Tower Operator’s liability to the AT&T Lessors pursuant to this Agreement): 

(i) commercial general liability insurance, written on Insurance Services Office (ISO) Form CG 00 01 or its
equivalent, insuring against all liability of Tower Operator (including actions of Tower Operator’s officers, employees, agents, licensees and invitees conducting business on its behalf) arising out of, by reason of or in connection with the
use, occupancy or maintenance of each Site (including Tower and the Improvements), in an amount of $1.0 million for bodily injury or property damage or as a result of one occurrence, and $2.0 million for bodily injury or property damage in the
aggregate. With respect to any policy written on a “claims-made” or “extended discovery” basis, Tower Operator will maintain coverage as to a Site for two years following the Term of this Agreement or the completion of all work
associated with this Agreement, whichever is later; 
 (ii) umbrella or excess liability insurance with
limits of $25.0 million per occurrence and in the aggregate; 
 (iii) property insurance (in an amount of
$100.0 million in the aggregate for all Sites and Sale Sites) against direct and indirect loss or damage by fire and all other casualties and risks covered under “all risk” insurance respecting the Tower and Improvements (but excluding any
AT&T Communications Equipment and AT&T Improvements); provided that this Section 16(b)(iii) may be satisfied through a blanket policy of insurance that applies to other locations that are not Sites; 

(iv) workers’ compensation insurance affording statutory coverage for all employees of Tower Operator and
any employees of its Affiliates performing activities on all Sites, with employer’s liability coverage with a minimum limit of $1.0 million each accident, by disease-policy limit, and each employee; 

(v) commercial automobile liability insurance, including coverage for all owned, hired and non-owned
automobiles. The amount of such coverage shall be $1.0 million combined single limit for each accident and for bodily injury and property damage; 

(vi) earthquake insurance (for Sites located in areas historically known for earthquake activity) in an amount
equal to the replacement value of the Site and the Included Property at the Site; and 
 (vii) any other
insurance required under the terms of the applicable Ground Lease. 
 (c) Insurance Premiums; Additional Insureds, Loss
Payees and Notice of Cancellation. Tower Operator shall pay all premiums for the insurance coverage that Tower Operator is required to procure and maintain under this Agreement. Each insurance policy shall (i) name each AT&T Lessor as
an additional insured if such insurance policy is for liability 

  
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insurance (other than any workers’ compensation policies) or a loss payee if such insurance policy is for property insurance and (ii) provide that the insurer gives 30 days’
written notice of cancellation, except for non-payment of premium. Regardless of the prior notice of cancellation required of the insurer(s), Tower Operator agrees to provide any AT&T Lessor with at least 20 days’ written notice of
cancellation of any and all policies of insurance required by this Agreement. For each Site, Tower Operator shall deliver to each AT&T Lessor a certificate or certificates of insurance evidencing the existence of all required insurance and
applicable endorsements with respect to each Site that Tower Operator is required to maintain hereunder, such delivery to be made promptly after such insurance is obtained (but not later than the Effective Date) and prior to the expiration date of
any such insurance. All insurance obtained by Tower Operator shall be primary to any insurance carried by the AT&T Lessors and all insurance maintained by the AT&T Lessors shall be non-contributory. 

(d) Insurer Requirements. All policies of insurance required under this Section 16 shall be written on companies
rated “A-VII” or better by AM Best or a comparable rating and licensed in the state where the applicable Site to which such insurance applies is located. 

(e) Other Insurance. Tower Operator shall not, on its own initiative or pursuant to the request or requirement of any
Tower Subtenant or other Person, take out separate insurance concurrent in form or contributing in the event of loss with that required to be carried by Tower Operator pursuant to this Section 16, unless each AT&T Lessor is named in the
policy as an additional insured or a loss payee, if and to the extent applicable. Tower Operator shall immediately notify each AT&T Lessor whenever any such separate insurance is taken out by it and shall deliver to such AT&T Lessor original
certificates evidencing such insurance. 
 SECTION 17. Estoppel Certificate; AT&T Lessor Financial
Reporting. 
 (a) Each of Tower Operator and each AT&T Lessor, from time to time upon 10 Business Days’
prior request by the other, shall execute, acknowledge and deliver to the other, or to a Person designated by the other, a certificate stating that this Agreement is unmodified and in full effect (or, if there have been modifications, that this
Agreement is in full effect as modified, and setting forth such modifications) and the dates to which Rent, Pre-Lease Rent and other sums payable under this Agreement have been paid, and either stating that to the knowledge of the signer of such
certificate no default exists under this Agreement or specifying each such default of which the signer has knowledge. The Party requesting such certificate shall, at its cost and expense, cause such certificate to be prepared for execution by the
requested Party. Any such certificate may be relied upon by any prospective Mortgagee or purchaser of any portion of a Site. 

(b) Tower Operator shall provide each AT&T Lessor, at such AT&T Lessor’s cost and expense (but at no cost and
expense to such AT&T Lessor to the extent such information is independently prepared by Tower Operator in connection with any loan secured by a Mortgage), with such financial information, financial reports and Tax returns regarding, and any
material documents executed by Tower Operator in connection with, the business, operations and financing activities of Tower Operator and its Affiliates with respect to the Sites as reasonably requested and required by such AT&T Lessor for the
purposes of such AT&T 

  
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Lessor and its Affiliates preparing financial statements, complying with the requirements of GAAP or addressing the accounting treatment and financial and Tax reporting in respect of the
transactions contemplated by this Agreement and the Master Agreement, except privileged or confidential documents or where such disclosure is prohibited by Law. 

SECTION 18. Assignment, Transfer and Subletting Rights. 

(a) Tower Operator Assignment and Transfer Rights. 

(i) Without the prior written consent of each AT&T Lessor, Tower Operator may not assign this Agreement or
any of Tower Operator’s rights, interests, duties or obligations under this Agreement in whole or in part to any Person; provided that AT&T Lessors’ consent shall not be required if the assignee is not an AT&T Collocator
Competitor and (x) meets the Assumption Requirements and is a Qualified Tower Operator (as defined below), (y) meets the Assumption Requirements and is an Affiliate of Tower Operator or (z) is a successor Person of Tower Operator by
way of merger, consolidation or other reorganization or by the operation of law or a Person acquiring all or substantially all of the assets of Tower Operator. For the avoidance of doubt, notwithstanding anything to the contrary contained in this
Agreement, nothing herein shall affect or impair (i) Tower Operator’s ability to transfer any revenue, rents, issues or profits derived from the Sites (including under or pursuant to any Collocation Agreements) or its rights to receive the
same, (ii) Tower Operator’s ability to incur, grant or permit to exist any Liens on any revenue, rents, issues or profits derived from the Sites (including under or pursuant to any Collocation Agreements), (iii) the ability of any
parent company of Tower Operator to sell, convey, transfer, assign, encumber, mortgage or otherwise hypothecate or dispose of any equity interests in Tower Operator, (iv) Tower Operator’s ability, subject to any required consent of any
Ground Lessor, to enter into Mortgages or Liens in favor of any Tower Operator Lender (in which case such Tower Operator Lender shall have the right to exercise remedies under any such Mortgage or Lien in a manner consistent with the provisions of
this Agreement and any Transaction Document so long as such Tower Operator Lender that is a mortgagee of a Mortgage on the Included Property of any Site is a Qualified Tower Operator or, in connection with any foreclosure with respect to a Mortgage,
appoints a Qualified Tower Operator (which may be an AT&T Group Member) to operate and manage the Included Property of the Sites following any foreclosure of the Mortgage), or (v) Tower Operator’s right, subject to any required consent
of any Ground Lessor and otherwise in accordance with the terms of this Agreement, to lease, sublease, license or otherwise make available Available Space to Tower Subtenants. A “Qualified Tower Operator” means a tower operator that
has, or that is owned or managed by Persons who have, a good business reputation and at least five (5) years’ experience in the management and operation of communication towers in the United States. 

(ii) Tower Operator shall deliver to the AT&T Lessors documentation reasonably satisfactory to such
AT&T Lessor confirming that any party to which Tower Operator assigns any of its duties and obligations hereunder in accordance with this Agreement shall, from and after the date of any such assignment, assume all such duties and obligations to
the extent of any such assignment. 

  
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 (iii) If Tower Operator assigns, in accordance with this
Agreement, its rights, interests, duties or obligations under this Agreement with respect to less than all of the Sites, the Parties hereto shall, simultaneously therewith, enter into such agreements as are reasonably necessary to appropriately
bifurcate the rights, interests, duties and obligations of Tower Operator under this Agreement. 
 (iv) Tower
Operator hereby agrees that any attempt of Tower Operator to assign its interest in this Agreement, in whole or in part, in violation of this Section 18 shall constitute a default under this Agreement and shall be null and void ab initio. 

(b) AT&T Lessor and AT&T Collocator Assignment and Subletting Rights. 

(i) Subject to Section 20, none of AT&T Guarantor, any AT&T Lessor or AT&T Ground Lease Party
or any of their respective Affiliates shall sell, convey, transfer, assign, lease, sublease, license, encumber, mortgage or otherwise hypothecate or dispose of its interest in and to any Site or any portion of any Site, or grant concessions or
licenses or other rights for the occupancy or use of all or any portion of any Site during the Term. 
 (ii)
Nothing contained in this Agreement shall prohibit AT&T Collocator from transferring or otherwise disposing of its interests in the AT&T Collocation Space in accordance with the terms and conditions of the MPL Site MLA. 

(iii) Neither AT&T Guarantor nor AT&T Lessor may assign, sell, convey, transfer, lease, sublease,
license or otherwise dispose of this Agreement or any of its rights, duties or obligations under this Agreement in whole or in part without the consent of Tower Operator; provided that Tower Operator’s consent shall not be required in the case
of an assignment by AT&T Guarantor of this Agreement to a successor Person of AT&T Guarantor by way of merger, consolidation or other business combination or a sale of all or substantially all of the assets of AT&T Guarantor if such
successor Person or Person acquiring all or substantially all of the assets of AT&T Guarantor executes documentation reasonably satisfactory to Tower Operator assuming the obligations of AT&T Guarantor hereunder and becomes “AT&T
Guarantor” for all purposes hereunder. AT&T Guarantor and each AT&T Lessor hereby agrees that any attempt of AT&T Guarantor or such AT&T Lessor, respectively, to assign its interest in this Agreement or any of its rights,
obligations or duties under this Agreement, in whole or in part, in violation of this Section 18 shall constitute a default under this Agreement and shall be null and void ab initio. 

(iv) Nothing herein shall affect or impair the ability of any parent company of AT&T Lessor to sell,
convey, transfer, assign or otherwise dispose of its limited liability company interest in AT&T Lessor to (1) AT&T Parent or a Wholly Owned Affiliate or (2) to a Person, or a Person that is a controlled Affiliate of a Person,
(a) with a rating of BBB- (stable) or higher from Standard & Poor’s Ratings Services (or any successor thereto) or Baa3 (stable) or higher from Moody’s Investor Services (or any successor thereto), (b) with a credit
rating from one of the aforementioned rating agencies equivalent to or higher than the then-current credit rating, if any, of AT&T Guarantor or 

  
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(c) approved by Tower Operator, such approval not to be unreasonably withheld, conditioned or delayed; provided, that, in the case of each of (1) and (2), (I) 100% of the limited
liability company interests of such AT&T Lessor are sold, conveyed, transferred, assigned or otherwise disposed together, such that the transferee holds all of the limited liability company interests of such AT&T Lessor following such sale,
conveyance, transfer, assignment or other disposition, (II) such sale, conveyance, transfer, assignment or other disposition of such limited liability company interests will not affect the bankruptcy remoteness structure in place at such time
and (III) at all times upon and following such sale, conveyance, transfer, assignment or other disposition of such limited liability company interests, the holder of the limited liability company interests of such AT&T Lessor shall become
party to and comply with, and, except as expressly permitted therein, shall not amend, modify, cancel or terminate, or take or omit to take any action otherwise inconsistent with, the bankruptcy remoteness protections contained in the AT&T Newco
LLC Agreement and the AT&T Newco Separateness Agreement with respect to such AT&T Lessor. Any sale, conveyance, transfer, assignment or other disposition in violation of the preceding sentence shall constitute a default under this Agreement
and shall be null and void ab initio. 
 SECTION 19. Tower Operator Environmental Covenants. 

(a) Tower Operator Environmental Covenants. Tower Operator covenants and agrees that (i) Tower Operator shall not
conduct or allow to be conducted upon any Site any business operations or activities, or employ or use a Site, to generate, manufacture, refine, transport, treat, store, handle, dispose of, transfer, produce, or process Hazardous Materials;
provided, however, that Tower Operator shall have the right to bring, use, keep and allow any Tower Subtenant to bring and keep on any Site in customary quantities and in compliance with all applicable Laws, batteries, generators and
associated fuel tanks and other Hazardous Materials commonly used in the tower industry reasonably necessary for the operation and maintenance of each Site or that are being used at the relevant Site on the Effective Date; (ii) Tower Operator
shall carry on its business and operations at each Site in compliance with all applicable Environmental Laws; (iii) Tower Operator shall coordinate with AT&T Collocator and all Tower Subtenants at a Site to facilitate compliance with
applicable Environmental Laws applicable to the entire Site as a unit based on information either readily available to Tower Operator or information provided by other Tower Subtenants to Tower Operator to promote Site compliance; (iv) Tower
Operator shall not create or permit to be created any Lien against any Site for the costs of any response, removal or remedial action or clean-up of Hazardous Materials; and (v) except as otherwise specified in Section 17(b)(iv) of the MPL
Site MLA, Tower Operator shall promptly conduct and complete all investigations, studies, sampling and testing, and all remedial, removal, and other actions necessary to clean up and remove all Hazardous Materials on, from or affecting each Site in
accordance with, and to the extent necessary to comply with, all applicable Environmental Laws after the Effective Date, but only to the extent Tower Operator is responsible for such Hazardous Materials as a “Post-Closing Liability” (as
defined in the Master Agreement) under the Master Agreement. 
 (b) EPCRA Notices and Reports. For all Sites except
those in California, Tower Operator shall, in each case to the extent required by applicable Law: (i) prepare complete and accurate (in all material respects) notices and reports required under the Emergency Planning

  
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and Community-Right-to-Know Act, 42 U.S.C. 11001 et seq., and regulations promulgated thereunder, with regard to each AT&T Lessors’ operations at a Site; (ii) provide copies of all
such notices and reports to each AT&T Lessor as soon as practical at AT&T Lessor’s expense; (iii) sign and certify all such notices and reports, in each case in reliance upon and subject to any information provided by AT&T
Lessor, AT&T Collocator or any of their Affiliates contained in such notices and reports and (iv) file all such notices and reports with the appropriate Governmental Authority no later than the date on which such reports or notices are
required under applicable Law to be filed; provided, however, that AT&T Lessor shall be responsible and shall indemnify Tower Operator for all portions of any fines, levies, penalties and other costs and expenses that are imposed
on or incurred by Tower Operator arising from or relating to any information provided by any AT&T Lessor, AT&T Collocator or any of their Affiliates to Tower Operator, or that reasonably should have been provided to Tower Operator pursuant
to the subsequent sentence, for purposes of preparing such notices and reports. Each AT&T Lessor, AT&T Collocator and their respective Affiliates shall provide to Tower Operator no later than November 30th of each year an inventory of
its Hazardous Materials and other information, including any past notices and reports, reasonably necessary to enable Tower Operator to prepare such notices and reports or to respond to any governmental or third-party demand in connection with such
notices and reports. AT&T Lessor shall reimburse Tower Operator for any fees, costs and expenses imposed by Government Authorities for or associated with completing or filing such notices and reports. In the event 42 U.S.C. § 11004 or
applicable state statutes, and regulations promulgated thereunder, require emergency release notifications, each AT&T Collocator shall make the notifications with respect to releases from AT&T Communications Equipment or AT&T
Improvements and such AT&T Collocator shall notify Tower Operator of the release and provide Tower Operator with records or copies of such notifications. 

SECTION 20. Tower Operator Purchase Option. 

(a) Right to Purchase. Tower Operator shall have the option (each such option, the “Purchase Option”)
to purchase each AT&T Lessor’s and each AT&T Ground Lease Party’s (collectively, the “Option Sellers”) right, title and interest in the 19 Year Lease Purchase Sites, the 20 Year Lease Purchase Sites, the 21 Year
Lease Purchase Sites, the 22 Year Lease Purchase Sites, the 23 Year Lease Purchase Sites, the 24 Year Lease Purchase Sites, the 25 Year Lease Purchase Sites, the 26 Year Lease Purchase Sites, the 27 Year Lease Purchase Sites, the 28 Year Lease
Purchase Sites, the 29 Year Lease Purchase Sites, the 30 Year Lease Purchase Sites, the 31 Year Lease Purchase Sites, the 32 Year Lease Purchase Sites, the 33 Year Lease Purchase Sites, the 34 Year Lease Purchase Sites and the 35 Year Lease Purchase
Sites (collectively, the “Purchase Sites”), respectively, on the 19 Year Lease Purchase Option Closing Date, the 20 Year Lease Purchase Option Closing Date, the 21 Year Lease Purchase Option Closing Date, the 22 Year Lease Purchase
Option Closing Date, the 23 Year Lease Purchase Option Closing Date, the 24 Year Lease Purchase Option Closing Date, the 25 Year Lease Purchase Option Closing Date, the 26 Year Lease Purchase Option Closing Date, the 27 Year Lease Purchase Option
Closing Date, the 28 Year Lease Purchase Option Closing Date, the 29 Year Lease Purchase Option Closing Date, the 30 Year Lease Purchase Option Closing Date, the 31 Year Lease Purchase Option Closing Date, the 32 Year Lease Purchase Option Closing
Date, the 33 Year Lease Purchase Option Closing Date, the 34 Year Lease Purchase Option Closing Date and the 35 Year Lease Purchase Option Closing Date, respectively (collectively, the “Purchase Option Closing Dates”). On each of
the seventeen (17) Purchase Option Closing Dates, Tower Operator may 

  
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exercise its Purchase Option with respect to all (but not less than all) of the applicable Purchase Sites comprising the applicable Tranche of Sites as of the applicable Purchase Option Closing
Date, for the Option Purchase Price attributable to such Purchase Sites (and on the other terms and subject to the conditions specified in this Agreement), by submitting to the Option Sellers, no earlier than two years and no later than 120 days
prior to the applicable Purchase Option Closing Date, a written offer to purchase all such Purchase Sites in accordance with the terms hereof; provided, however, that the only condition to such exercise shall be that both on the
applicable date of submission of such written offer and the Purchase Option Closing Date, this Agreement shall not have been terminated. The Option Sellers shall be obligated to sell, and AT&T Guarantor shall cause the Option Sellers to sell,
and Tower Operator shall be obligated to buy, all such Purchase Sites hereunder at a single closing to be held on and effective as of the applicable Purchase Option Closing Date. 

(b) Payment of the Option Purchase Price. Tower Operator shall pay to the Option Sellers the Option Purchase Price for
the Purchase Sites in cash or immediately available funds on or prior to the applicable Purchase Option Closing Date. The “Option Purchase Price” means, with respect to each Tranche of Sites on the applicable Purchase Option Closing
Date, the purchase price that is set forth opposite such Tranche of Sites on Exhibit E hereto, multiplied by a fraction (i) the numerator of which is equal to (A) the number of Purchase Sites comprising such Tranche of Sites on the
applicable Purchase Option Closing Date plus (B) the number of Sites included in such Tranche of Sites on the Effective Date and which were transferred to Tower Operator in accordance with Section 9(b)(i); provided that the
Sites described above in clause (i)(B) shall only be included in the numerator if the Tower (x) included in the transfer of such Site in accordance with Section 9(b)(i) is still located on such Site, (y) is still in active operation
on such Site and (z) is still owned by Tower Operator, in each case as of the applicable Purchase Option Closing Date and (ii) the denominator of which is equal to the number of Sites comprising such Tranche of Sites on the Effective Date.
At the closing of such sale, each of the Option Sellers shall transfer or cause to be transferred its applicable Purchase Sites, at Tower Operator’s cost and expense, to Tower Operator and the Term as to the Purchase Sites shall end. Risk of
loss for the Purchase Sites purchased pursuant to this Section 20 shall pass from the Option Sellers to Tower Operator upon payment of the applicable purchase price by Tower Operator to the Option Sellers. 

(c) Transfer by Option Sellers. Any transfer of Purchase Sites by the Option Sellers to Tower Operator pursuant to this
Section 20 shall include the following (the “Transferred Property” of the Purchase Sites): 

(i) (A) An assignment of the Option Sellers’ interest in any Ground Lease and other related rights for
such Purchase Site (which shall contain an assumption by Tower Operator of all of the obligations of such Option Sellers under such Ground Lease and an agreement by Tower Operator to indemnify such Option Sellers and each other AT&T Indemnitee
from all Claims related to such obligations) or the transfer of fee simple title or other applicable ownership interest of Option Sellers at each Purchase Site and (B) a sale, conveyance, assignment, transfer and delivery of all such Option
Sellers’ right, title and interest in, to and under the applicable Included Property (other than AT&T Improvements or AT&T Communications Equipment) and all appurtenances thereto; 

  
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 (ii) To the extent not included in clause (i) above,
and to the extent legally transferable (and, if such rights cannot be transferred to Tower Operator, such rights shall be enforced by the Option Sellers at the direction of and for the benefit of the Tower Operator for a period of three
(3) years from the applicable Purchase Option Closing Date), a transfer of all rights of such Option Sellers under or pursuant to warranties, representations and guarantees made by suppliers or manufacturers in connection with such Purchase
Site (other than AT&T Improvements or AT&T Communications Equipment), but excluding any rights to receive amounts under such warranties, representations and guarantees representing reimbursements for items paid by such Option Sellers; and

 (iii) To the extent legally transferable (and, if such rights, claims, credits and causes of action cannot
be transferred to Tower Operator, such rights, claims, credits and causes of action shall be enforced by the Option Sellers at the direction of and for the benefit of the Tower Operator for a period of three (3) years from the applicable
Purchase Option Closing Date), a transfer of all known and unknown rights, claims, credits, causes of action or rights to commence any causes of action or rights of setoff of each such Option Seller against third parties relating to such Purchase
Site (other than AT&T Improvements or AT&T Communications Equipment) arising on or after the date of transfer, including unliquidated rights under manufacturers’ and vendors’ warranties, but excluding all amounts representing
reimbursements for items paid by such Option Sellers. 
 (d) Evidence of Transfer. Each of the Option Sellers and
Tower Operator shall enter into, and AT&T Guarantor shall cause the Option Sellers to enter into, assignments, deeds (with warranties of title as to actions by such Option Seller and its Affiliates), bills of sale and such other documents and
instruments as the other may reasonably request to evidence any transfer of such Purchase Sites. 
 (e) Transfer
Taxes. Any Transfer Taxes incurred in connection with the transfer of Purchase Sites by the Option Sellers to Tower Operator pursuant to this Section 20 shall be governed by Section 22(d). 

(f) Permitted Liens. Any transfer of a Purchase Site by any Option Seller to Tower Operator or its designee pursuant to
this Agreement shall be subject to all Permitted Liens applicable to such Purchase Site and any Liens created or incurred after the Effective Date (other than any Liens created or incurred by, or consented to by, any of the Option Sellers or their
respective Affiliates or any of their respective Representatives). 
 (g) Actions by Option Sellers. The Option
Sellers shall not, and AT&T Guarantor shall not permit the Option Sellers or any of their Affiliates to, (i) take or fail to take any action which action or omission could reasonably be expected to impair or adversely affect the Option
Seller’s right, title and interest in, to and under any Purchase Site (including the Transferred Property thereof), (ii) take any action which could reasonably be expected to diminish the expected residual value of any Purchase Site
(including the Transferred Property thereof) in any material respect or (iii) take any action which could reasonably be expected to shorten the expected remaining economic life of any Purchase Site (including the Transferred

  
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Property thereof), in each case, unless such action or failure to act by the Option Sellers or any of their Affiliates is expressly authorized by the terms and conditions of this Agreement and
the Transaction Documents (by way of example, the election by AT&T Collocator not to extend the term of the MPL Site MLA beyond its initial 10 year term, in and of itself, shall not be deemed to have violated this covenant, solely as a result of
such election). The Option Sellers shall not, and AT&T Guarantor shall not permit the Option Sellers or any of their Affiliates to, sell, dispose of, transfer, lease, license or encumber any of their interests in any of the Purchase Sites
(including the Included Property), other than Permitted Liens or in compliance with Section 18(b). The Option Sellers shall take, and AT&T Guarantor shall cause the Option Sellers and their respective Affiliates to take, all actions
necessary, appropriate or desirable, or reasonably requested from time to time by Tower Operator, to preserve and protect the Option Sellers’ right, title and interest in, to and under the Purchase Sites (including the Included Property
thereof). 
 (h) Further Assurances. AT&T Guarantor and the Option Sellers, at their cost and expense, shall use
their reasonable best efforts, beginning on the date that is 6 months prior to the applicable Purchase Option Closing Date, to obtain any consent or waiver required to give effect to the sale of the Purchase Sites upon the exercise of the Purchase
Option. In the event that any Option Seller is unable to obtain any consent or waiver required to give effect to the sale of any Purchase Site by the applicable Purchase Option Closing Date, and such Purchase Site cannot be transferred without
violating the terms of the applicable Ground Lease, then, upon payment of the full Option Purchase Price on the applicable Purchase Option Closing Date (including with respect to such Site), the Option Sellers shall appoint, and AT&T Guarantor
shall cause the Option Sellers to appoint, Tower Operator, in perpetuity, as the exclusive operator of the Included Property of such Purchase Site. In furtherance of the foregoing, the Option Sellers and Tower Operator shall enter into documentation
(including applicable powers of attorney) that is reasonably acceptable to Tower Operator to provide for Tower Operator’s management rights with respect to such Purchase Site, which documentation shall grant and confer to Tower Operator all
rights and privileges (including all rights to receive the revenue derived from such Site and all rights and powers with respect to the operation, maintenance, leasing and licensing of such Site) granted or conferred to Tower Operator pursuant to
this Agreement in respect of a Managed Site, but shall otherwise treat Tower Operator as if Tower Operator was the owner of such Purchase Site and shall not impose on Tower Operator any of the covenants or restrictions imposed upon it by this
Agreement and the Transaction Documents. 
 (i) Indemnity. Effective upon the closing of any transfer of Purchase
Sites pursuant to this Section 20, Tower Operator shall indemnify, defend and hold each AT&T Indemnitee harmless from, against and in respect of any and all Claims to the extent resulting from, arising out of or relating to Post-Closing
Liabilities with respect to the Transferred Property of such transferred Purchase Sites from and after the applicable Purchase Option Closing Date, pursuant to the procedures set forth in Section 15(c), or, solely with respect to such indemnity
claims for Taxes, pursuant to the procedures set forth in Section 34(a). At the applicable AT&T Lessor’s or AT&T Ground Lease Party’s request, Tower Operator shall execute such instruments or documents as may be reasonably
necessary to give effect to the indemnity described in this Section 20(i). 
 (j) Deliveries if Purchase Option Not
Exercised. If Tower Operator does not exercise its Purchase Option with respect to any Site, Tower Operator shall deliver to the 

  
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applicable AT&T Lessor or AT&T Ground Lease Party, promptly after the applicable Site Expiration Date, all documents and information as reasonably requested by the applicable AT&T
Lessor or AT&T Ground Lease Party to allow such AT&T Lessor or AT&T Ground Lease Party to operate and manage such Site. 

(k) Site Access. Upon the transfer of any Purchase Sites to Tower Operator pursuant to this Section 20, Tower
Operator shall grant to the AT&T Collocator as to each Purchase Site a non-exclusive right and easement (over the surface of the Purchase Site) to access any structures (including Shelters and cabinets) on such Purchase Site owned and used, and
intended for use, exclusively by AT&T Collocator or any Affiliate of AT&T Collocator other than in the Collocation Operations, in each case on such Purchase Site as of the Effective Date (without regard to any demolition in connection with
the planned replacement thereof or substitution therefor with a similar structure and any period of construction or restoration thereof) or any replacement thereof or substitution therefor with a similar structure, at such times (on a 24-hour, seven
day per week basis unless otherwise limited by the Ground Lease, but subject to giving Tower Operator at least one Business Day’s prior notice or, in the case of an Emergency, as much notice as is practicable, in each case in accordance with
Tower Operator’s standard process), to such extent, and in such means and manners (on foot or by motor vehicle, including trucks and other heavy equipment), as AT&T Collocator (and its authorized contractors, subcontractors, engineers,
agents, advisors, consultants, representatives, or other persons authorized by AT&T Collocator) deems reasonably necessary in connection with its use, operation and maintenance of such structures, in each case for as long as AT&T Collocator
or such Affiliate maintains such structure or any replacement thereof or substitution therefor with a similar structure. 

SECTION 21. Tower Operator Lender Protections. 

(a) Tower Operator Lender Protections. If AT&T Lessors are given written notice from Tower Operator specifying the
name and address of the Tower Operator Lender, or its servicing agent and the title of an officer or other responsible individual charged with processing notices of the type required under this Section 21, then the following provisions shall
apply with respect to such Tower Operator Lender for so long as any Secured Tower Operator Loan remains unsatisfied: 

(i) The Tower Operator Lender shall not be bound by any modification or amendment of this Agreement in any
respect so as to materially increase the liability of Tower Operator hereunder or materially increase the obligations or materially decrease the rights of Tower Operator without the prior written consent of the Tower Operator Lender, which consent
shall not be unreasonably conditioned, withheld or delayed. 
 (ii) Further, this Agreement may not be
surrendered or terminated other than in compliance with the provisions of this Section 21. Any such modification, amendment, surrender or termination not in accordance with the provisions of this Section 21 shall not be binding on any such
Tower Operator Lender or any other Person who acquires title to its foreclosed interest. 

  
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 (b) Notice and Cure Rights. 

(i) AT&T Lessors, upon serving Tower Operator with any notice of default under the provisions of, or with
respect to, this Agreement, shall also serve a copy of such notice upon the Tower Operator Lender (in the same manner as required for notices to Tower Operator) at the address specified herein, or at such other address that a Tower Operator Lender
designates in writing to AT&T Lessors. 
 (ii) Without limiting any AT&T Lessor’s rights under
this Agreement to cure any event of default or breach by Tower Operator under this Agreement, in the event of a default or breach by Tower Operator under this Agreement, the Tower Operator Lender shall have the right, but not the obligation, to
remedy such event, or cause the same to be remedied, within 10 days after the expiration of all applicable grace or cure periods provided to Tower Operator in this Agreement, in the event of a monetary default or breach, or within 60 days after the
expiration of all applicable grace or cure periods provided to Tower Operator in this Agreement in the event of any other breach or default, and AT&T Lessors shall accept such performance by or at the instance of the Tower Operator Lender as if
the same had been made by Tower Operator; provided, however, that if any such non-monetary default or breach that is capable of cure requires Tower Operator Lender to acquire possession of the Tower Operator’s interest in the
Sites that are the subject of such breach or default, such period shall be extended for such reasonable period as may be required to obtain such possession and cure such default or breach; provided, however, that during such extended
period, Tower Operator Lender must continue to cure other defaults and breaches in accordance with the provisions of this Section 21(b)(ii). 

(iii) In the event of the termination of this Agreement prior to the expiration of the Term of this Agreement
as provided herein for any reason (excluding Tower Operator’s failure to cure under (ii) above and terminations under Sections 4(d)(iv), 35 and 36, but including pursuant to Section 365 of the Bankruptcy Code, as amended from time to
time, including any successor legislation thereto), AT&T Lessors shall serve upon Tower Operator Lender written notice that this Agreement has been terminated, together with a statement of any and all sums due under this Agreement and of all
breaches and events of default under this Agreement, if any, then known to AT&T Lessors. During the ten (10) Business Days following Tower Operator Lender’s receipt from AT&T Lessors of such written notice that this Agreement has
been terminated, Tower Operator Lender shall have the option, which option must be exercised by Tower Operator Lender’s delivering notice to AT&T Lessors within the aforementioned ten (10) Business Day period, to cure any such Tower
Operator breaches or Tower Operator events of default (and any Tower Operator breaches or Tower Operator events of default not susceptible of being cured by the Tower Operator Lender shall be deemed to have been waived) and the right (subject to
such cure) to enter into a new lease (the “New Lease”) (A) effective as of the date of termination of this Agreement, (B) for the remainder of what otherwise would have been the Term of this Agreement but for such
termination, (C) at and upon all the agreements, terms, covenants, and conditions of this Agreement (provided that Tower Operator Lender shall not have any obligation to pay AT&T Lessors Rent or Pre-Lease Rent), and
(D) including any applicable right to 

  
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exercise the Purchase Option under Section 20. Upon the execution and delivery of a New Lease under this Section 21, all Collocation Agreements and other agreements which theretofore
may have been assigned to the AT&T Lessor (or reverted back to such AT&T Lessor as a matter of Law) thereupon shall be assigned and transferred, without recourse, representation or warranty, by such AT&T Lessor to the lessee named in
such New Lease. 
 (iv) Any notice or other communication that a Tower Operator Lender desires or is required
to give to or serve upon AT&T Lessors shall be made in the same manner as required for notices to AT&T Lessors in accordance with the provisions of this Agreement at the address set forth herein or such other address as AT&T Lessors may
provide to Tower Operator Lender from time to time. 
 (c) Participation in Certain Proceedings and Decisions. Any
Tower Operator Lender shall have the right, subject to Tower Operator’s consent, to intervene and become a party, but only with respect to Tower Operator’s involvement in any Arbitration, litigation, condemnation or other proceeding
affecting this Agreement to the extent of its security interest herein. Tower Operator’s right to make any election or decision under this Agreement that is required or permitted to be made by Tower Operator with respect to the negotiation or
acceptance of any Award or insurance settlement shall be subject to the prior written approval of such Tower Operator Lender. AT&T Lessor shall be entitled to rely (if acting in good faith) upon any notice or other communication from Tower
Operator Lender or Tower Operator without verifying the authority of Tower Operator Lender or Tower Operator to act with respect to any such matter. 

(d) No Merger. Without the written consent of each Tower Operator Lender, the leasehold interest created by this
Agreement shall not merge with the fee interest in all or any portion of the Sites, notwithstanding that the fee interests and the leasehold interests are held at any time by the same Person. 

(e) Encumbrances on Personal Property and Subleases. In addition to the rights granted in Section 18(a), each
AT&T Lessor hereby consents to Tower Operator’s grant, if any, to any Tower Operator Lender of a security interest in the personal property owned by Tower Operator and located at the Sites and a collateral assignment of subleases of the
interest of Tower Operator in all or any portion of the Sites and the revenue, rents, issues and profits derived therefrom (including under or pursuant to any Collocation Agreements), if any, and a pledge of any equity interests in Tower Operator.
Each AT&T Lessor agrees that any interest that such AT&T Lessor may have in such personal property (but not its interest in the Included Property or this Agreement), whether granted pursuant to this Agreement or by Law, shall be subordinate
to the interest of any Tower Operator Lender. 
 (f) Notice of Default Under any Secured Tower Operator Loan. Tower
Operator shall promptly deliver to AT&T Lessors a true and correct copy of any notice of default, notice of acceleration or other notice regarding a default by Tower Operator under any documents comprising a Secured Tower Operator Loan after the
receipt of such notice by Tower Operator. 

  
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 (g) Casualty and Condemnation Proceeds. Notwithstanding anything in this
Agreement to the contrary, in the event of any casualty to or condemnation of any Site or any portion thereof during such time that any Secured Tower Operator Loan remains unsatisfied, the Tower Operator Lender shall be entitled to receive all
insurance Proceeds or condemnation awards (up to the amount of the indebtedness secured by the Secured Tower Operator Loan) otherwise payable to Tower Operator and apply same to restoration of the Included Property in accordance with the provisions
of this Agreement (to the extent required by the terms of this Agreement); provided, however, that if the Included Property is not required to be restored pursuant to the terms of this Agreement, such Proceeds may be applied to the
Secured Tower Operator Loan. Upon the Tower Operator Lender’s request, the name of such Tower Operator Lender may be added to the “Loss Payable Endorsement” of any and all insurance policies required to be carried by Tower Operator
hereunder. 
 (h) Other. Notwithstanding any other provision of this Agreement to the contrary, (i) AT&T
Lessors shall not be obligated to provide the benefits and protections afforded to Tower Operator Lenders in this Section 21 to more than three Tower Operator Lenders at any given time and (ii) in no event whatsoever shall there be any
subordination of this Agreement or the rights and interests of AT&T Lessors under this Agreement or in and to the Included Property, or of the rights and interests of AT&T Collocator or its Affiliates under the MPL Site MLA or in and to the
AT&T Collocation Space by virtue of any Mortgage granted by Tower Operator to any Tower Operator Lender and each Tower Operator Lender shall, upon request, confirm such fact in writing. If there is more than one Tower Operator Lender subject to
the provisions of this Section 21, except as otherwise jointly directed in writing by such Tower Operator Lenders, AT&T Lessors shall recognize the Tower Operator Lender exercising rights afforded by this Section 21, whose Secured
Tower Operator Loan is most senior in lien (unless a Tower Operator Lender junior in lien requires that the holder thereof have a superior entitlement to such rights, and the other Tower Operator Lender senior in lien shall agree in writing to such
request, in which event such recognition shall be of the holder of that Secured Tower Operator Loan); provided, however, that such Tower Operator Lender shall have complied with the provisions of this Section 21; provided,
further, that AT&T Lessors shall have no obligation to determine which Tower Operator Lender is indeed senior in lien and shall have no liability to any Tower Operator Lender for an erroneous determination if AT&T Lessors attempt to
make such a determination so long as such determination is made in good faith based upon the evidence and information of lien priority provided to AT&T Lessors by the Tower Operator Lenders. Each Tower Operator Lender which has complied with the
notice requirements of this Section 21 shall have the right to appear in any arbitration or other material proceedings arising under this Agreement and to participate in any and all hearings, trials and appeals in connection therewith, but only
to the extent related to the rights or obligations of Tower Operator in the matter that is the subject of the arbitration or proceedings or to protect the security interest of Tower Operator in the Included Property. 

(i) Subordination of Mortgages. All Mortgages that at any time during the Term of this Agreement may be placed upon a
Site or any portion of a Site and all documents and instruments evidencing and securing any Secured Tower Operator Loan secured by such Mortgages shall be subject and subordinate to the terms and conditions hereof. 

  
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 (j) Estoppel Certificate. From time to time upon request of a Tower
Operator Lender (but not more than once in any one year period), AT&T Lessors shall execute and deliver to such Tower Operator Lender an estoppel certificate with respect to this Agreement in a form reasonably acceptable to AT&T Lessors and
Tower Operator Lender stating, if true, that as of the date of such estoppel certificate: (1) this Agreement is in full force and effect and has not been assigned, modified or amended (or, if it has, then specifying the dates and terms of any
such assignment or amendment) and (2) Tower Operator is not in default under this Agreement to the knowledge of AT&T Lessors or, if such is not the case, stating the nature of each such default of which AT&T Lessor have knowledge. 

(k) Notification of Termination. Tower Operator shall notify AT&T Lessors in writing immediately upon the
satisfaction repayment or termination of any Secured Tower Operator Loan. 
 SECTION 22. Taxes; Fees. 

(a) Subject to Section 20(e), Section 22(b), Section 22(c), Section 22(d) and Section 34(b), and
except as provided for below, Tower Operator shall be responsible for and shall pay, as additional rent hereunder, all Taxes upon or with respect to any action taken by, or the business activities of, Tower Operator, Tower Operator Affiliates, Tower
Operator Lender and any Tower Subtenant in connection with the acquisition, purchase, sale, financing, leasing, subleasing, maintenance, Modification, repair, redelivery, alteration, insuring, control, use, operation, delivery, possession,
repossession, location, storage, refinancing, refund, transfer of title, registration, re-registration, transfer of registration, return or other disposition of any of the Included Property or any portion of such Included Property, or interest in
such Included Property. Tower Operator shall receive any refunds for Taxes paid by Tower Operator pursuant to this Agreement. Notwithstanding the foregoing, Tower Operator shall not be required to pay any Taxes payable with respect to a Site, if the
applicable Ground Lease provides that the Ground Lessor is responsible for such Taxes without pass-through to the applicable ground lessee and the Ground Lessor actually pays any such Taxes. If the Ground Lessor does not pay any such Taxes and
either Party becomes aware of it, the Parties shall, at Tower Operator’s expense, cooperate and use commercially reasonable efforts to cause the Ground Lessor to pay such Taxes. 

(b) In the taxable periods occurring during the Term as to any Site, any Taxes for which Tower Operator is responsible under
this Section 22 and that are calculated or assessed on the basis of a time period any portion of which is not included within the Term as to such Site (e.g., Property Taxes assessed annually) shall be prorated proportionately between the
applicable AT&T Group Member and Tower Operator based on the number of days in each such period during the time period of assessment. Tower Operator shall pay to the applicable AT&T Group Member Tower Operator’s proportionate share of
such Taxes for any such partial year of the Term. Tower Operator’s obligations for Taxes under this Section 22 shall be limited to that proportionate amount of such Taxes attributable to the period during which this Agreement is in effect
with respect to such Site; provided, however, that any Taxes resulting from special assessments or appraisals of any Site occurring during the period during which this Agreement is in effect shall be the sole responsibility of Tower
Operator. Any other Taxes that are not calculated or assessed on the basis of a time period, but for which Tower Operator is responsible 

  
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under this Section 22 or Section 34(b), shall be prorated using a fair and equitable proration method that considers, among other things, the basis upon which such Taxes are assessed.

 (c) Notwithstanding anything to the contrary herein (other than Section 34(g)), the Parties agree as follows with
respect to Property Taxes payable during the Term of this Agreement: (i) AT&T Lessors or the applicable AT&T Group Member shall pay all Property Taxes on a timely basis to the appropriate Governmental Authority and Tower Operator shall
have no responsibility for Property Taxes other than the payment of (A) the Tower Operator Property Tax Charge to the applicable AT&T Lessor and (B) any Property Taxes with respect to any personal property installed by Tower Operator
on the Included Property; and (ii) for each calendar year, or portion thereof, that is included in the Term as to each Site, Tower Operator shall pay to the applicable AT&T Lessor the Tower Operator Property Tax Charge on or before
July 1 of the respective calendar year; provided that if the Effective Date is after July 1, the payment for the first calendar year (or portion thereof) shall be made on the Effective Date; provided, however, that if the Term ends
prior to July 1, the payment for the final year shall be made on the last day of the Term. Notwithstanding the foregoing, the AT&T Lessors or the applicable AT&T Group Member shall not be required to pay any Property Taxes payable with
respect to a Site, if the applicable Ground Lease provides that the Ground Lessor is responsible for such Property Taxes without pass-through to the applicable ground lessee and the Ground Lessor actually pays any such Taxes. If the Ground Lessor
does not pay any such Property Taxes and either Party becomes aware of it, the Parties shall, at Tower Operator’s expense, cooperate and use commercially reasonable efforts to cause the Ground Lessor to pay such Taxes. The AT&T Lessors,
Tower Operator and the applicable AT&T Group Member shall cooperate with each other, and make available to each other such information as shall reasonably be necessary, in connection with the preparation of tax returns for Property Taxes and any
audit or judicial or administrative proceeding relating to the same. To the extent an AT&T Group Member, other than AT&T Lessors or AT&T Collocator, has an obligation under this Section 22, AT&T Collocator shall cause such
AT&T Group Member to perform such obligation. “Tower Operator Property Tax Charge” shall mean an amount equal to $1,769.00 per Site per annum (prorated for partial years). 

(d) All sales, use, license, value added, documentary, stamp, gross receipts, registration, real estate transfer, conveyance,
excise, recording and other similar Taxes and fees (“Transfer Taxes”) imposed as a result of the transactions contemplated by this Agreement shall be borne equally by the AT&T Lessors, on the one hand, and Tower Operator, on the
other hand. For the avoidance of doubt, Tower Operator shall have no responsibility for any Transfer Taxes with respect to a Site imposed with respect to transfers exclusively between AT&T Group Members. To the extent permitted by applicable
Law, Tower Operator shall prepare and duly and timely file all Tax returns in respect of such Transfer Taxes and all Tax returns where no Tax is due, but filing is required as a result of the transactions contemplated by this Agreement. Tower
Operator shall promptly notify the AT&T Lessors if Tower Operator is not permitted by applicable Law to file any such return. The AT&T Lessors shall prepare and timely file all Tax returns in respect of Transfer Taxes that Tower Operator is
not permitted to file under applicable Law. Prior to the filing of any Tax return in respect of Transfer Taxes, the filing Party shall provide such return and a calculation of the associated Transfer Taxes (if any) to the non-filing Party for the
non-filing Party’s review and approval, which approval shall not be unreasonably conditioned, withheld or delayed. Where a Party remits Transfer Taxes to the applicable Taxing 

  
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Authority, the other Party shall reimburse the portion of such Transfer Taxes for which such other Party is responsible to the first mentioned Party by the earlier of 30 days after the date such
Taxes are remitted to the taxing authority or 30 days after the filing due date of the applicable Tax return. The Tax liability and payment provisions of this Section 22(d) shall survive until the expiration of the longest applicable period of
limitations. To the extent that any Party fails to timely reimburse the other Party for any Transfer Taxes paid by such other Party, the Parties agree that such other Party shall be entitled to offset such unpaid reimbursements against any other
amounts due to it. The AT&T Lessors and Tower Operator agree to cooperate in good faith in order to take actions to minimize, within the fullest extent of the Law, the application or imposition of Taxes imposed on the transactions contemplated
by this Agreement, which may include, for example, providing documentation to qualify for exemption from any applicable Tax or agreeing to cooperate in good faith to resolve an audit by a Taxing Authority involving the operation or application of
this Agreement. 
 (e) Bulk Sales. Tower Operator and the AT&T Lessors hereby waive compliance by Tower Operator
and the AT&T Lessors with the provisions of the “bulk sales,” “bulk transfer” and similar Laws. 

(f) Fees. Unless specified in this Agreement (including the exhibits hereto), no unilateral fees or additional costs or
expenses are to be applied by either Party to the other Party, including, but not limited to, the review of plans, structural analyses, consents, the provision of documents or other communications between the Parties. 

SECTION 23. Utilities. 

The rights and obligations of AT&T Collocator with respect to the use and payment of utilities and similar services to any
Site shall be as set forth in the MPL Site MLA. Except as otherwise provided in the MPL Site MLA, (i) Tower Operator shall be responsible for the provision and payment of utilities and similar services used at any Site and (ii) AT&T
Lessors shall have no obligation to make arrangements for or to pay any charges for connection or use of utilities and similar services to any Site, including electricity, telephone, power, and other utilities. 

SECTION 24. Compliance with Law; Governmental Permits. 

(a) Tower Operator shall, at its own cost and expense, obtain and maintain in effect all Governmental Approvals required or
imposed by Governmental Authorities. Tower Operator shall comply with all applicable Laws in connection with the operation and maintenance of the Included Property of each Site (including the Tower on such Site). Without limiting the generality of
the two immediately preceding sentences, Tower Operator shall maintain and repair at each Site in compliance with applicable Law (i) any ASR signs and any radio frequency exposure barriers and signs, including caution, notice, information or
alert signs and (ii) any AM detuning equipment and, if required but not present at a Site, provide any necessary AM detuning equipment so that such Site complies with applicable Law. Tower Operator shall conduct annual inspections of all Sites
with lighted Towers of such AT&T Lessor; provided that until the requisite waiver from the FCC has been obtained by the applicable AT&T Lessor, Tower Operator shall conduct quarterly inspections of all Sites with lighted Towers of

  
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such AT&T Lessor. AT&T Collocator shall, at its own cost and expense, comply with all applicable Laws in connection with its use of each Site. Each AT&T Lessor agrees, promptly after
the conversion of the Tower monitoring system at the Sites to Tower Operator’s network operations center, to petition the FCC to waive its rights to quarterly inspection of all lighted Towers of such AT&T Lessor for which such waiver has
not already been obtained. Tower Operator shall not commence any work at a Site until all required Government Authorizations necessary to perform that work have been obtained, as provided by Section 12(b). 

(b) Tower Operator shall, at Tower Operator’s cost and expense, obtain and maintain in effect all Governmental Approvals
from the FAA and FCC relating to the operation and maintenance of each Site. To the extent Tower Operator and the AT&T Lessors disagree about the applicability of, or compliance with, Laws relating to FAA marking and lighting issues or FCC ASR
or NEPA issues (whether discussed in this Section 24 or any other section of this Agreement), then the Parties shall adopt the approach consistent with industry practices and procedures. Tower Operator shall, at Tower Operator’s cost and
expense, provide the AT&T Lessors with copies of all Governmental Approvals from the FAA and FCC. 
 (c) Tower Operator
shall, at its own cost and expense, reasonably cooperate with AT&T Collocator or its Affiliates in their efforts to obtain and maintain in effect any Governmental Approvals from the FCC and to comply with any Laws applicable to the AT&T
Communications Equipment and the AT&T Collocation Space. Without limiting the generality of the immediately preceding sentence, Tower Operator shall, at its own cost and expense and in a commercially reasonable time period, provide to AT&T
Collocator any documentation in its possession or control that may be necessary for or reasonably requested by AT&T Collocator to comply with all FCC reporting requirements relating to the AT&T Communications Equipment and the AT&T
Collocation Space. 
 (d) Notwithstanding anything herein to the contrary, Tower Operator shall have no obligation to
provide any information necessary for AT&T Lessor or AT&T Collocator to obtain any Governmental Approval relating to the AT&T Communications Equipment itself (e.g., FCC type certification). 

(e) Each AT&T Lessor shall reasonably cooperate with Tower Operator in Tower Operator’s efforts to provide
information required by Governmental Authorities and to comply with all Laws applicable to each Site. 
 (f) Each AT&T
Lessor shall be afforded access, at reasonable times and upon reasonable prior notice, to all of Tower Operator’s records, books, correspondence, instructions, blueprints, permit files, memoranda and similar data relating to the compliance of
the Towers with all applicable Laws, except privileged or confidential documents or where such disclosure is prohibited by Law. Tower Operator shall not dispose of any such information before the earlier of five (5) years after the date on
which such materials are created or received by Tower Operator and five (5) years after the expiration or termination of this Agreement as to the subject Site. Any such information described in this Section 24(f) shall be open for
inspection upon reasonable notice by such AT&T Lessor, at its cost, and its authorized representatives at reasonable hours at Tower Operator’s principal office. 

  
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 (g) If, as to any Site, any material Governmental Approval or certificate,
registration, permit, license, easement or approval relating to the operation of such Site is canceled, expires, lapses or is otherwise withdrawn or terminated (except as a result of the acts or omissions of an AT&T Lessor or its Affiliates,
agents or employees) or Tower Operator has breached any of its obligations under this Section 24, and Tower Operator has not confirmed to the AT&T Lessors, within forty-eight (48) hours of obtaining notice thereof, that Tower Operator
is commencing to remedy such non-compliance or, after commencing to remedy such non-compliance, Tower Operator is not diligently acting to complete the remedy thereof, then the AT&T Lessors shall have the right, in addition to its other remedies
pursuant to this Agreement, at law, or in equity, to take appropriate action to remedy any such non-compliance and be reimbursed for its reasonable, out-of-pocket costs from Tower Operator as provided in Section 28. Notwithstanding anything to
the contrary contained herein, Tower Operator shall have no obligation to obtain or restate (or otherwise provide information for the AT&T Lessors to obtain or restate) any Governmental Approval, certificates, permits, licenses, easements or
approvals that relate exclusively to AT&T Communications Equipment itself. Each AT&T Lessor shall, at all times, keep, operate and maintain AT&T Communications Equipment at each Site in a safe condition, in good repair, in accordance
with applicable Laws and with the general standard of care in the telecommunications industry. 
 (h) The following
provisions shall apply with respect to the marking/lighting systems serving the Sites (but only if such marking/lighting systems are required by applicable Law (including as part of or as a condition of any Governmental Approval or as in place as of
the Effective Date) or existing written agreements): 
 (i) In addition to the requirements set out elsewhere
in this Section 24 and Section 25, for each Site, Tower Operator agrees to monitor the lighting system serving such Site in accordance with the requirements of applicable Law and file all required Notices To Airmen
(“NOTAM”) and other required reports in connection therewith. Tower Operator agrees, as soon as practicable, to repair any failed lighting system and deteriorating markings in accordance with the requirements of applicable Law in
all material respects. Tower Operator shall provide the subject AT&T Lessors with a copy of any NOTAM and a monthly report in electronic format describing all pertinent facts relating to the lighting system serving the Sites, including lighting
outages, status of repairs, and location of outages. 
 (ii) In addition to and not in limitation of
Section 29, if Tower Operator defaults on its obligations under this Section 24(h), and Tower Operator has not confirmed to the applicable AT&T Lessor, within forty-eight (48) hours of obtaining notice thereof, that Tower Operator
is commencing to remedy such default, or, after commencing to remedy such default, Tower Operator is not diligently acting to complete the remedy thereof, such AT&T Lessor, in addition to its other remedies pursuant to this Agreement, at law, or
in equity, may elect to take appropriate action to repair or replace any aspect of the marking/lighting system, in which case such AT&T Lessor shall provide Tower Operator with an invoice for related costs on a monthly basis, which amount shall
be paid by Tower Operator to such AT&T Lessor, as applicable, within 45 Business Days of Tower Operator’s receipt of such invoice. 

  
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 SECTION 25. Compliance with Specific FCC Regulations. 

(a) Tower Operator understands and acknowledges that Tower Subtenants are engaged in the business of operating Communications
Equipment at each Site. The Communications Equipment is subject to the rules, regulations, decisions and guidance of the FCC, including those regarding exposure by workers and members of the public to the radio frequency emissions generated by
AT&T Communications Equipment. Tower Operator acknowledges that such regulations prescribe the permissible exposure levels to emissions from the Communications Equipment which can generally be met by maintaining safe distances from such
Communications Equipment. To the extent Tower Operator is required to do so under applicable FCC rules, regulations, decisions and guidance, Tower Operator shall use commercially reasonable efforts to install, or require the Tower Subtenants to
install, at its or their expense, such marking, signage or barriers to restrict access to any Site as is necessary in order to comply with the applicable FCC rules, regulations, decisions and guidance with respect to Communications Equipment other
than AT&T Communications Equipment, and with respect to AT&T Communications Equipment, AT&T Collocator shall install same. Tower Operator further agrees to post, or to require the Tower Subtenants to post, prominent signage as may be
required by applicable Law or by the order of any Governmental Authority at all points of entry to each Site regarding the potential RF emissions, with respect to Communications Equipment other than AT&T Communications Equipment, and with
respect to AT&T Communications Equipment, AT&T Collocator shall install same. Tower Operator shall cooperate in good faith with AT&T Collocator to minimize any confusion or unnecessary duplication that could result in similar signage
being posted with respect to any AT&T Communications Equipment at or near any Site in respect of any AT&T Collocation Space on such Site. 

(b) From and after the Effective Date, each AT&T Lessor shall cooperate (and cause its Affiliates to cooperate) with each
Tower Subtenant with respect to each Site regarding compliance with applicable FCC rules, regulations, decisions and guidance. 

(c) The Parties acknowledge that AT&T Collocator (or an Affiliate thereof) is licensed by the FCC to provide
telecommunications and wireless services and that the Sites are used to provide those services. Nothing in this Agreement shall be construed to transfer control of any FCC authorization held by AT&T Collocator (or an Affiliate thereof) to Tower
Operator with respect to telecommunications services provided by AT&T Collocator or its Affiliates, to allow Tower Operator to in any manner control the AT&T Communications Equipment, or to limit the right of AT&T Collocator (or an
Affiliate thereof) to take all necessary actions to comply with its obligations as an FCC licensee or with any other legal obligations to which it is or may become subject (subject to the other terms of this Agreement with respect to actions
AT&T Collocator or its Affiliates may take with respect to a Site). 
 (d) With respect to any Lease Site or Pre-Lease
Site registered with the FCC pursuant to 47 C.F.R. § 17.4, AT&T Guarantor and the AT&T Lessors shall ensure and cause the name of the owner of such Site on the FCC registry be changed to the appropriate AT&T Lessor. 

(e) With respect to any Lease Site or Pre-Lease Site registered with the FCC pursuant to 47 C.F.R. § 17.4, promptly after
the Effective Date, Tower Operator and the AT&T 

  
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Lessors will reasonably cooperate to cause the name of the owner of such Site on the antenna structure registry to be changed to Tower Operator. 

SECTION 26. Holding Over. 

If Tower Operator remains in possession of the Included Property of any Site after expiration or termination of the Term as to
such Site, then Tower Operator shall be and become a tenant at sufferance, and there shall be no renewal or extension of the Term as to such Site by operation of Law. During any such holdover period with respect to a Site, Tower Operator shall pay
monthly rent equal to 150% of all rent and other amounts payable by Tower Subtenants with respect to such Site on a monthly basis, except that such month-to-month tenancy shall be terminable by either Party on thirty (30) days’ notice
(subject to the provisions of Section 9). In addition, AT&T Collocator shall not be required to pay Tower Operator the AT&T Rent Amount or any other monthly charge under the MPL Site MLA or this Agreement with respect to the use and
occupancy of any Site during the period in which Tower Operator is a holdover tenant. 
 SECTION 27. Rights of Entry
and Inspection. 
 With advance notice in accordance with and only to the extent required under Section 28, each
AT&T Lessor and its representatives, agents and employees, at AT&T Lessor’s sole cost and expense, shall be entitled to enter any Site at all reasonable times (but subject to giving Tower Operator at least one Business Day’s prior
notice) for the purposes of inspecting such Site, making any repairs or replacements, performing any maintenance, or performing any work on the Site, to the extent required or expressly permitted by this Agreement; provided that none of the
AT&T Lessors or its representatives, agents and employees may make any repairs or replacements or perform any maintenance, inspection or other work on a Tower, Tower Operator Equipment or on any third party’s property. Nothing in this
Section 27 shall imply or impose any duty or obligation upon any AT&T Lessor to enter upon any Site at any time for any purpose, or to inspect any Site at any time, or to perform, or pay the cost of, any work that Tower Operator is required
to perform under any provision of this Agreement, and no AT&T Lessor has any such duty or obligation. Nothing in this Section 27 shall affect any right of entry or inspection or any other right afforded to AT&T Collocator pursuant to
the MPL Site MLA. 
 SECTION 28. Right to Act for Tower Operator. 

In addition to and not in limitation of any other right or remedy AT&T Lessors may have under this Agreement, if Tower
Operator fails to make any payment or to take any other action when and as required under this Agreement in order to correct a condition the continued existence of which is imminently likely to cause bodily injury or injury to property or have a
material adverse effect on any Site, then subject to the following sentence, the applicable AT&T Lessor or its Affiliate may, without demand upon Tower Operator and without waiving or releasing Tower Operator from any duty, obligation or
liability under this Agreement, make any such payment or take any such other action required of Tower Operator, in each case in compliance with applicable Law in all material respects and in a manner consistent with the general standard of care in
the tower industry. Unless Tower Operator’s failure results in or relates to an Emergency, the applicable AT&T Lessor shall give Tower Operator at least 10 Business Days’ prior written notice of such AT&T Lessor’s intended
action and Tower Operator 

  
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shall have the right to cure such failure within such 10 Business Day period unless the same is not able to be remedied in such 10 Business Day period, in which event such 10 Business Day period
shall be extended; provided that Tower Operator has commenced such cure within such 10 Business Day period and continuously prosecutes the performance of the same to completion with due diligence. No prior notice shall be required in the
event of an Emergency. The actions that the applicable AT&T Lessor may take include the payment of insurance premiums that Tower Operator is required to pay under this Agreement and the payment of Taxes that Tower Operator is required to pay
under this Agreement. Each AT&T Lessor may pay all incidental costs and expenses incurred in exercising its rights under this Section 28, including reasonable attorneys’ fees and expenses, penalties, re-instatement fees, late charges,
and interest. An amount equal to 120% of the total amount of the costs and expenses incurred by any AT&T Lessor in accordance with this Section 28 shall be due and payable by Tower Operator upon demand and bear interest at the rate of the
lesser of (A) the Prime Rate or (B) 10% per annum from the date five days after demand until paid by Tower Operator. 

SECTION 29. Defaults and Remedies. 

(a) AT&T Lessor Events of Default. The following events constitute events of default by any AT&T Lessor or any
AT&T Ground Lease Party (as applicable): 
 (i) In respect of this Agreement, any AT&T Lessor or any
AT&T Ground Lease Party fails to perform any obligations under any Ground Lease (other than any obligation assumed by Tower Operator) that results in a default or breach of such Ground Lease and, after written notice from Tower Operator, fails
to cure the default or breach within the applicable cure period or, if no cure period exists, within 30 days after receiving such notice (provided, however, the foregoing shall not constitute an event of default if such AT&T Lessor
or AT&T Ground Lease Party is disputing in good faith the existence of such breach or default, and if the Ground Lessor thereunder does not have a right to terminate the Ground Lease during such dispute); 

(ii) Any AT&T Lessor or any AT&T Ground Lease Party violates or breaches any material term of this
Agreement in respect of any Site, and such AT&T Lessor or such AT&T Ground Lease Party (as applicable) fails to cure such breach or violation within 30 days of receiving written notice thereof from Tower Operator specifying such breach or
violation in reasonable detail, or, if the violation or breach cannot be cured within 30 days (other than a failure to pay money), fails to take steps to cure such violation or breach within such 30 days and act continuously and diligently to
complete cure of such violation or breach within a reasonable time thereafter; provided that if any such default causes Tower Operator to be in default under any Collocation Agreement existing prior to the Effective Date, the 30 day period
referenced above in this Section 29(a)(ii) shall be reduced to such lesser time period as Tower Operator notifies such AT&T Lessor in writing that Tower Operator has to comply under such Collocation Agreement; 

(iii) A Bankruptcy Event occurs with respect to any AT&T Lessor or any AT&T Ground Lease Party, or the
lease of any Site to Tower Operator or other right by Tower Operator to use and occupy the Site is rejected under Section 365 of the 

  
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Bankruptcy Code; or 
 (iv) The occurrence of any event
of default by AT&T Collocator under the MPL Site MLA or any Affiliate of AT&T Collocator under any site Lease Agreement related to the MPL Site MLA (which shall be deemed a separate breach hereof and an event of default hereunder). 

Notwithstanding anything to the contrary contained herein, no event of default shall be deemed to occur and exist under this Agreement as a
result of a violation or breach by any AT&T Lessor of (i) any term of this Agreement that requires such AT&T Lessor to comply in all respects with any applicable Law (including, for the avoidance of doubt, any applicable Environmental
Law) or any Ground Lease if (x) such AT&T Lessor complies with such Law or such Ground Lease, as applicable, in all material respects and (y) no claims, demands, assessments, actions, suits, fines, levies or other penalties have been
asserted against or imposed on Tower Operator by any Governmental Authority as a result of such AT&T Lessor’s non-compliance in all respects with such Law or by the applicable Ground Lessor as a result of such AT&T Lessor’s
non-compliance in all respects with such Ground Lease. 
 (b) Tower Operator Remedies. 

(i) In addition to the remedies, if any, that may be available to Tower Operator under the MPL Site MLA, upon
the occurrence of events of default not cured during the applicable time period for curing the same (whether of the same or different types) by any AT&T Lessor, any AT&T Ground Lease Party or any Affiliate thereof under Section 29(a),
Tower Operator may deliver to the applicable AT&T Lessor or AT&T Ground Lease Party a second notice of default marked at the top in bold lettering with the following language: “A RESPONSE IS REQUIRED WITHIN 15 BUSINESS DAYS OF RECEIPT
OF THIS NOTICE PURSUANT TO THE TERMS OF A MASTER LEASE AGREEMENT WITH THE UNDERSIGNED AND FAILURE TO RESPOND MAY RESULT IN TERMINATION OF YOUR RIGHTS” and the envelope containing the request must be marked “PRIORITY”. If the
applicable AT&T Lessor or AT&T Ground Lease Party does not cure the event of default within 15 Business Days after delivery of such second notice, then Tower Operator may terminate this Agreement as to the leaseback or other use and
occupancy of the Site only as to those Sites with respect to which such event of default is occurring. 

(ii) Notwithstanding anything to the contrary contained herein, if any AT&T Lessor or an AT&T Ground
Lease Party is determined pursuant to Section 29(g) to be in default, then such AT&T Lessor or such AT&T Ground Lease Party shall have 20 days following such determination to initiate a cure of such default and so long as such cure is
diligently completed, an event of default with respect to such AT&T Lessor or such AT&T Ground Lease Party shall be deemed not to have occurred. 

(c) Tower Operator Events of Default. The following events constitute events of default by Tower Operator: 

(i) (A) Tower Operator fails to timely pay Ground Rent or otherwise

  
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fails to perform any obligation assumed by Tower Operator hereunder under any Ground Lease, resulting in a default or breach of such Ground Lease and, after written notice from the AT&T
Lessors, fails to cure the breach or default within the applicable cure period or, if no cure period exists, within 30 days after receiving such notice or (B) Tower Operator otherwise fails to make payment of any amount due under this Agreement
and such failure continues for more than 15 Business Days after written notice from the AT&T Lessors (provided, however, the foregoing shall not constitute an event of default if Tower Operator is disputing in good faith the
existence of such breach or default, or, if applicable, the Ground Lessor thereunder does not have a right to terminate the Ground Lease during such dispute); 

(ii) Tower Operator violates or breaches any material term of this Agreement in respect of any Site, and Tower
Operator fails to cure such breach or violation within 30 days of receiving written notice thereof from the AT&T Lessors specifying such breach or violation in reasonable detail, or, if the violation or breach cannot be cured within 30 days
(other than a failure to pay money), fails to take steps to cure such violation or breach within such 30 days and act diligently to complete the cure of such violation or breach within a reasonable time thereafter; 

(iii) A Bankruptcy Event occurs with respect to Tower Operator, or the leaseback to AT&T Collocator or
other right by AT&T Collocator to use and occupy the AT&T Collocation Space is rejected by Tower Operator under Section 365 of the Bankruptcy Code; or 

(iv) The occurrence of any event of default by Tower Operator under the MPL Site MLA (which shall be deemed a
separate breach of and an event of default under this Agreement). 
 Notwithstanding anything to the contrary contained herein, no event of
default shall be deemed to occur and exist under this Agreement as a result of a violation or breach by Tower Operator of (i) any term of this Agreement that requires Tower Operator to comply in all respects with any applicable Law
(including, for the avoidance of doubt, any applicable Environmental Law) or any Ground Lease if (x) Tower Operator complies with such Law or such Ground Lease, as applicable, in all material respects and (y) no claims, demands,
assessments, actions, suits, fines, levies or other penalties have been asserted against or imposed on any AT&T Lessor by any Governmental Authority as a result of Tower Operator’s non-compliance in all respects with such Law or by the
applicable Ground Lessor as a result of Tower Operator’s non-compliance in all respects with such Ground Lease or (ii) Section 4(a), Section 11, Section 19, Section 24 or Section 25 if such violation or breach arises out of or relates to any
event, condition or occurrence that occurred prior to, or is in existence as of, the Effective Date unless such violation or breach has not been cured on or prior to the first anniversary of the Effective Date; provided, however, that
if any AT&T Lessor gives Tower Operator notice of any event, condition or occurrence giving rise to an obligation of Tower Operator to repair, maintain or modify a Tower under Section 11(a), or Tower Operator otherwise obtains knowledge
thereof, Tower Operator shall remedy such event, condition or occurrence in accordance with its standard protocol and procedures for remedying similar events, conditions or occurrences with respect to its portfolio of telecommunications tower sites
(taking into account whether such event, condition or 

  
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occurrence is deemed an emergency, a priority or a routine matter in accordance with Tower Operator’s then current practices). 

(d) AT&T Lessor Remedies. 

(i) Upon the occurrence of any event of default by Tower Operator under Section 29(c)(i),
Section 29(c)(ii) or Section 29(c)(iv) (which relates to an event of default by Tower Operator under Section 25(c)(i) of the MPL Site MLA) in respect of any Site, the AT&T Lessors or any applicable AT&T Ground Lease Party may
deliver to Tower Operator a second notice of default marked at the top in bold lettering with the following language: “A RESPONSE IS REQUIRED WITHIN 15 BUSINESS DAYS OF RECEIPT OF THIS NOTICE PURSUANT TO THE TERMS OF A MASTER PREPAID LEASE WITH
THE UNDERSIGNED AND FAILURE TO RESPOND MAY RESULT IN TERMINATION OF YOUR RIGHTS” and the envelope containing the request must be marked “PRIORITY”. If Tower Operator does not cure the event of default within 15 Business Days after
delivery of such second notice, such AT&T Lessor or AT&T Ground Lease Party may terminate this Agreement as to such Site by giving Tower Operator written notice of termination, and this Agreement shall be terminated as to such Site 30 days
after Tower Operator’s receipt of such termination notice; provided, however, that this Agreement shall otherwise remain in full force and effect. 

(ii) Upon the occurrence of any event of default by Tower Operator under Section 29(c)(iii) or
Section 29(c)(iv) (that relates to an event of default by any Tower Operator under Section 25(c)(iii) of the MPL Site MLA), AT&T Lessors may terminate this Agreement as to the lease or other use and occupancy of any Sites by Tower
Operator by giving Tower Operator written notice of termination; termination with respect to the affected Site shall be effective 30 days after Tower Operator’s receipt of such termination notice; provided, however, that this
Agreement shall otherwise remain in full force and effect. 
 (iii) Notwithstanding anything to the contrary
contained herein, if Tower Operator is determined pursuant to Section 29(g) to be in default, then Tower Operator shall have 20 days following such determination to initiate a cure of such default and so long as such cure is diligently
completed, an event of default with respect to Tower Operator shall not be deemed to have occurred. 
 (e) Force
Majeure. In the event that either party shall be delayed, hindered in or prevented from the performance of any act required hereunder by reason of events of Force Majeure, or any delay caused by the acts or omissions of the other party in
violation of this Agreement or the MPL Site MLA, then the performance of such act (and any related losses and damages caused the failure of such performance) shall be excused for the period of delay and the period for performance of any such act
shall be extended for a period equivalent to the period required to perform as a result of such delay. 
 (f) No
Limitation on Remedies. AT&T Lessors or Tower Operator, as applicable, may pursue any remedy or remedies provided in this Agreement or any remedy or remedies provided for or allowed by law or in equity, separately or concurrently or in any

  
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combination, including (i) specific performance or other equitable remedies, (ii) money damages arising out of such default or (iii) in the case of Tower Operator’s default,
the AT&T Lessors may perform, on behalf of Tower Operator, Tower Operator’s obligations under the terms of this Agreement and seek reimbursement pursuant to Section 28. 

(g) Arbitration. Notwithstanding anything in this Agreement to the contrary, any Party receiving notice of a default or
termination under this Agreement may, within ten (10) days after receiving the notice, initiate arbitration proceedings to determine the existence of any such default or termination right. These arbitration proceedings shall include and be
consolidated with any proceedings initiated after notices delivered at or about the same time under the MPL Site MLA. Such arbitration proceedings shall be conducted in accordance with and subject to the rules and practices of The American
Arbitration Association under its Commercial Arbitration Rules from time to time in force. There shall be three (3) arbitrators, selected in accordance with the rules of The American Arbitration Association under its Commercial Arbitration
Rules. A decision agreed on by two (2) of the arbitrators shall be the decision of the arbitration panel. Such arbitration panel conducting any arbitration hereunder shall be bound by, and shall not have the power to modify, the provisions of
this Agreement. During the pendency of such arbitration proceedings, the notice and cure periods set forth in this Section 29 shall be tolled and the Party alleging the default may not terminate this Agreement on account of such alleged event
of default. Nothing in this Section 29(g) is intended to be or to be construed as a waiver of a Party’s right to any remedy set forth elsewhere in this Agreement or that may not be enforced by means of arbitration, including, without
limitation, the rights of set off, injunctive relief and specific performance. 
 (h) Remedies Not Exclusive. Unless
expressly provided herein, a Party’s pursuit of any one or more of the remedies provided in this Agreement shall not constitute an election of remedies excluding the election of another remedy or other remedies, a forfeiture or waiver of any
amounts payable under this Agreement as to the applicable Site by such Party or waiver of any relief or damages or other sums accruing to such Party by reason of the other Party’s failure to fully and completely keep, observe, perform, satisfy
and comply with all of the agreements, terms, covenants, conditions, requirements, provisions and restrictions of this Agreement. 

(i) No Waiver. Either Party’s forbearance in pursuing or exercising one or more of its remedies shall not be
deemed or construed to constitute a waiver of any event of default or of any remedy. No waiver by either Party of any right or remedy on one occasion shall be construed as a waiver of that right or remedy on any subsequent occasion or as a waiver of
any other right or remedy then or thereafter existing. No failure of either Party to pursue or exercise any of its powers, rights or remedies or to insist upon strict and exact compliance by the other Party with any agreement, term, covenant,
condition, requirement, provision or restriction of this Agreement, and no custom or practice at variance with the terms of this Agreement, shall constitute a waiver by either Party of the right to demand strict and exact compliance with the terms
and conditions of this Agreement. Except as otherwise provided herein, any termination of this Agreement pursuant to this Section 29, or partial termination of a Party’s rights hereunder, shall not terminate or diminish any Party’s
rights with respect to the obligations that were to be performed on or before the date of such termination. 

  
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 (j) Notice Parties. Notices of default or termination delivered pursuant
to this Section 29 shall not be effective unless delivered to each of the Persons required by Section 37(e) pursuant to the terms thereof. 

SECTION 30. Quiet Enjoyment. 

Each AT&T Lessor covenants that Tower Operator shall, subject to the terms and conditions of this Agreement, peaceably and
quietly hold and enjoy the Included Property of each Lease Site and shall have the right provided herein to operate each Managed Site during the Term thereof without hindrance or interruption from such AT&T Lessor, any Party comprising AT&T
or any other AT&T Group Member. 
 SECTION 31. No Merger. 

There shall be no merger of this Agreement or any subleasehold interest or estate created by this Agreement in any Site with
any superior estate held by a Party by reason of the fact that the same Person may acquire, own or hold, directly or indirectly, both the subleasehold interest or estate created by this Agreement in any Site and such superior estate; and this
Agreement shall not be terminated, in whole or as to any Site, except as expressly provided in this Agreement. Without limiting the generality of the foregoing provisions of this Section 31, there shall be no merger of the subleasehold interest
or estate created by this Agreement in Tower Operator in any Site with any underlying fee interest that Tower Operator may acquire in any Site that is superior or prior to such subleasehold interest or estate created by this Agreement in Tower
Operator. 
 SECTION 32. Broker and Commission. 

(a) All negotiations in connection with this Agreement have been conducted by and between AT&T Lessors and Tower Operator
and their respective Affiliates without the intervention of any Person or other party as agent or broker other than TAP Advisors and J.P. Morgan Securities LLC (the “Financial Advisors”), which are advising AT&T Parent in
connection with this Agreement and related transactions and which shall be paid solely by AT&T Parent. 
 (b) Each of
Tower Operator and each AT&T Lessor warrants and represents to the other that there are no broker’s commissions or fees payable by it in connection with this Agreement by reason of its respective dealings, negotiations or communications
other than the advisor’s fees payable to the Financial Advisors which shall be payable by AT&T Parent. Each of Tower Operator and each AT&T Lessor agrees to indemnify and hold harmless the other from any and all damage, loss, liability,
expense and claim (including but not limited to attorneys’ fees and court costs) arising with respect to any such commission or fee which may be suffered by the indemnified Party by reason of any action or agreement of the indemnifying Party.

 SECTION 33. Recording of Memorandum of Site Lease Agreement; Bifurcation of Site. 

(a) Subject to the applicable provisions of the Master Agreement, for each Lease Site, following the execution of this
Agreement or after any Subsequent Closing, each 

  
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AT&T Lessor and Tower Operator shall each have the right, at its sole cost and expense, to cause a Memorandum of Site Lease Agreement to be filed in the appropriate county or other local
property records (unless the Ground Lease for any applicable Lease Site prohibits such recording) to provide constructive notice to third parties of the existence of this Agreement and shall promptly thereafter provide or cause to be provided in
electronic form a recorded copy of same to the other Party. 
 (b) In addition to and not in limitation of any other
provision of this Agreement, the Parties shall have the right to review and make corrections, if necessary, to any and all exhibits to this Agreement or to the applicable Memorandum of Site Lease Agreement. After making such corrections, the Party
that recorded the Memorandum of Site Lease Agreement shall re-record such Memorandum of Site Lease Agreement to reflect such corrections, at the sole cost and expense of the Party that requested such correction, and shall promptly provide in
electronic form a recorded copy of same to the other Party. 
 (c) With respect to any Site containing Reserved Property,
upon request of either Party, the Parties will reasonably cooperate to bifurcate, and use commercially reasonable efforts to cause the applicable Ground Lessor to bifurcate, the fee or ground leasehold interest in the Site to legally separate the
Reserved Property belonging to an AT&T Group Member from the Included Property belonging to Tower Operator, at the cost and expense of such AT&T Group Member. 

SECTION 34. Tax Indemnities. 

(a) Income Tax Indemnity. 

(i) Tax Assumptions. In entering into this Agreement and related documents, the AT&T Group has made
the following assumptions regarding the characterization of the transactions contemplated under this Agreement for federal income Tax purposes (the “Tax Assumptions”): 

(A) For federal income Tax purposes, this Agreement shall be treated as a “true lease” with respect
to all of the Included Property, the members of the AT&T Group shall be treated, directly or indirectly through one or more entities that are classified as partnerships or disregarded entities for federal income Tax purposes, as the owners and
sublessors of the Included Property, and Tower Operator shall be treated (or, if Tower Operator is a disregarded entity for federal income Tax purposes, the entity treated as the owner of Tower Operator for federal income Tax purposes) as the lessee
of the Included Property; 
 (B) Following the execution of this Agreement, the AT&T Group shall be
entitled to deduct, pursuant to Section 168(b) of the Code, depreciation deductions with respect to the AT&T Group’s adjusted Tax basis in the Included Property using the same depreciation method(s) as in effect immediately before the
execution of this Agreement (“Federal Depreciation Deductions”); 
 (C) Prepaid Rent and
Pre-Lease Rent with respect to each Site 

  
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shall be paid under a single lease subject to Section 467 of the Code and shall be characterized in part as a loan under Section 467 of the Code and Treasury Regulations issued under
such section and the AT&T Group shall be entitled to deduct interest attributable thereto with respect to each Site as set forth in Exhibit D; and 

(D) The only amounts that any AT&T Group Member shall be required to include in gross income with respect
to the transactions contemplated by this Agreement and related documents shall be (1) Rent and Pre-Lease Rent as it accrues as rent in accordance with the terms of this Agreement and the application of Section 467 of the Code and Treasury
Regulations issued under such section and as set forth in Exhibit D with respect to each Site; (2) any indemnity (including any gross up) pursuant to this Agreement; (3) any amounts paid or otherwise recognized pursuant to a voluntary sale
or other disposition by any AT&T Group Member (other than a sale or disposition attributable to a default by Tower Operator or the exercise of remedies by any AT&T Lessor or its Affiliate under this Agreement) of any Included Property, it
being understood for these purposes that a sale or disposition that may be deemed to have occurred on the Effective Date is not a sale; (4) proceeds upon Tower Operator’s exercise of the Purchase Option pursuant to Section 20;
(5) any costs and expenses of any AT&T Lessor or its Affiliate (and any interest thereon) paid or reimbursed by Tower Operator pursuant to this Agreement; (6) income attributable to the reversion of Modifications made by Tower Operator
to any AT&T Lessor at the end of the Term; (7) amounts expressly identified as interest in the Agreement and payable to any AT&T Lessor or any AT&T Group Member; and (8) any other amount to the extent such item of income
results in an equal and offsetting deduction in the same taxable year. 
 (ii) Tower Operator’s
Representations and Covenants. Tower Operator hereby represents and covenants to each AT&T Group Member as follows: 

(A) Tower Operator, any Affiliate of Tower Operator, any assignee or sublessee of Tower Operator and any user
(other than any AT&T Lessor or its Affiliates) of any portion of the Included Property shall not claim depreciation deductions as the owner of any of the Included Property for federal income Tax purposes during the Term (and thereafter unless
Tower Operator purchases such property pursuant to Section 20), with respect to such Included Property or portion of such Included Property, except with respect to Modifications financed by Tower Operator or such assignee, sublessee, or other
user, nor shall they take any other action in connection with filing a Tax return, make any public statement or otherwise undertake any action which would be inconsistent with (i) the treatment of the AT&T Group Members as the direct or
indirect owners and lessors of the Included Property for federal income Tax purposes, (ii) the Tax Assumptions or (iii) Section 10 and Exhibit D. 

(B) None of the Included Property shall constitute “tax-exempt use property” as defined in
Section 168(h) of the Code other than solely as a 

  
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result of use by any AT&T Lessor or their Affiliates and any other Person that is a Tower Subtenant as of the date of the Master Agreement; 

(C) On the Effective Date, no Modifications to any of the Included Property shall be required in order to
render any of the Included Property complete for its intended use by Tower Operator except for ancillary Severable Modifications that are customarily selected and furnished by lessees of property similar in nature to the Included Property; 

(D) Tower Operator has no current plan or intention of making any Modification or repair with respect to any
of the Included Property that would not be treated as severable improvements or permitted non-severable improvements within the meaning of Rev. Proc. 2001-28, 2001-1 C.B. 1156; 

(E) Tower Operator has no current plan or intention of making any Modification or repair with respect to any
of the Included Property the value of which as of the end of the Term with respect to such Included Property would compel Tower Operator to exercise any of the Purchase Options under Section 20; and 

(F) Tower Operator is not legally obligated or economically compelled to exercise any of the Purchase Options
provided in Section 20 and Tower Operator has not decided whether it shall exercise any of the Purchase Options provided in Section 20, and it has no plans to enter into or incur such obligation or to make such decision in the immediate
future. 
 (iii) Indemnity for Tax Losses. 

(A) If, as a result of: 

(1) the inaccuracy of any representation of Tower Operator, or the breach of any covenant of Tower Operator,
set forth in the Transaction Documents; 
 (2) the failure by Tower Operator to perform any act required of
it under any of the Transaction Documents; 
 (3) any disposition of Included Property in connection with a
default by Tower Operator or the exercise of remedies under this Agreement; or 
 (4) a Bankruptcy Event of Tower Operator
or any Affiliate thereof; 
 any AT&T Group Member (each a “Tax Indemnitee”) shall not claim on the relevant income Tax
return based upon a written opinion from independent tax counsel reasonably acceptable to Tower Operator (setting forth in reasonable detail the facts and analysis upon which such opinion is based) that there is not substantial authority (within the
meaning of Treasury Regulation 

  
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§1.6662-4(d)(2) as in effect from time to time) for claiming all or any portion of the Federal Income Tax Benefits, shall lose the right to claim all or any portion of the Federal Income Tax
Benefits, shall suffer a loss of, disallowance of, or delay in obtaining all or any portion of the Federal Income Tax Benefits, or shall be required to recapture all or any portion of the Federal Income Tax Benefits, or any Tax Indemnitee shall
suffer an Inclusion (any such event being referred to as a “Tax Event”), then, in any taxable year in which a Tax Indemnitee suffers a Tax Loss as a result of the Tax Event, Tower Operator shall pay to such Tax Indemnitee, at the
time specified below, as an indemnity the amount of the Tax Loss for such taxable year. Subject to other adjustments required by this Section 34(a)(iii)(A), the “Tax Loss” for a taxable year shall equal the sum of (i) the
excess of the actual additional federal and state income Taxes payable by the Tax Indemnitee (or its consolidated or affiliated group as applicable) for the taxable year, taking into account the Tax Event, over such Taxes that would have been
payable in the absence of the Tax Event, (ii) any interest, penalties and additions to Tax actually payable by the Tax Indemnitee as a result of the Tax Event, and (iii) an additional gross-up amount so that the Tax Indemnitee is made
whole on an after-Tax basis for its liabilities described in clause (i) and (ii), taking into account the income Taxes it actually pays on the payments it receives under this sentence, including those under this clause (iii). Tower Operator
shall not be required to make any payment under this Section 34(a)(iii)(A) earlier than, (a) in the case of a Tax Loss that is not being contested pursuant to Section 34(d), the date such Tax Indemnitee (or the common parent of the
consolidated group in which it is a member, as the case may be) files the applicable federal income Tax return, estimated or final as the case may be, which would first properly reflect the additional federal income Tax that would be due as a result
of the Tax Loss, (b) in the case of a Tax Loss that is being contested pursuant to Section 34(d), 30 days after the date on which a Final Determination is made (or as otherwise provided in Section 34(d)) and (c) 20 days after the
receipt by Tower Operator of a written demand from or on behalf of the Tax Indemnitee describing in reasonable detail the Tax Loss and the computation of the amount payable (a “Tax Indemnity Notice”). For the avoidance of doubt, a
Tax Event may give rise to a Tax Loss in a future taxable year (e.g., if the Tax Indemnitee has a net operating loss in the year of the Tax Event and the loss could have been carried forward and used against unrelated income in the future
year had it not been absorbed in the year of the Tax Event as a result of the Tax Event). If a Tax Indemnitee claims a Tax Loss in a particular taxable year on a Tax Indemnity Notice and Tower Operator indemnifies the Tax Indemnitee accordingly, and
it is later determined that the Tax Indemnitee did not have a Tax Loss, or had a smaller Tax Loss, in such taxable year (e.g., as a result of an audit adjustment or a net operating loss carryback to such taxable year), the Tax Indemnitee
shall reimburse Tower Operator so as to put the parties in the position they would have been in on the basis of the actual Tax Loss. 

(B) Verification of Calculations. Tower Operator may timely request that any Tax Indemnity Notice be
verified by a nationally recognized independent accounting firm or a lease advisory firm selected by Tower Operator and reasonably acceptable to such Tax Indemnitee. Such verification shall be at Tower Operator’s expense unless such accounting
firm determines that the amount payable by Tower Operator is more than five percent less than the amount shown on the Tax Indemnity Notice, in which event the Tax Indemnitee shall pay such costs. In order to enable such independent accountants to
verify such amounts, the Tax Indemnitee shall provide to such independent accountants (for their confidential use and not to be disclosed to Tower Operator or any other 

  
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person) all information reasonably necessary for such verification. 

(iv) Exceptions. Notwithstanding any provision of this Section 34(a) to the contrary (other than
with respect to the loss of Tax Savings for which an AT&T Group Member has reimbursed or credited Tower Operator under Section 34(c), in which case only the exceptions listed in clauses (C), (F) and (G) shall apply), Tower
Operator shall not be required to make any payment to any Tax Indemnitee in respect of any Tax Loss to the extent that any such Tax Loss occurs as a result of one or more of the following: 

(A) Other than as a result of an event or circumstance described in Section 34(a)(iii), the determination
that this Agreement is not a “true lease” for federal income Tax purposes or that the members of the AT&T Group, directly or indirectly through one or more entities that are classified as partnerships or disregarded entities for
federal income tax purposes, are not the owners or sublessors of the Included Property, or that Section 467 of the Code does not apply to this Agreement in accordance with its terms; 

(B) The voluntary sale, assignment, transfer or other disposition or the involuntary sale, assignment,
transfer or other disposition attributable to a Bankruptcy Event or the breach of any covenant or obligation of the Tax Indemnitee set forth in the Transaction Documents of or by any such Tax Indemnitee or any of its Affiliates, in either case, of
any of the Included Property or portion of such Included Property by any such Tax Indemnitee or any of its Affiliates other than a sale, assignment, transfer or disposition (1) contemplated by the Transaction Documents or to or at the request
of Tower Operator; (2) otherwise resulting from the exercise by any AT&T Group Member of its rights or performance of its obligations under the Transaction Documents; or (3) in connection with a default by Tower Operator or exercise of
remedies under this Agreement; 
 (C) The gross negligence or willful misconduct of such Tax Indemnitee;

 (D) Penalties, interest or additions to Tax to the extent based upon issues unrelated to the transactions
contemplated by this Agreement and related documents; 
 (E) Tower Operator’s exercise of the Purchase
Option provided in Section 20; 
 (F) The failure by the AT&T Group or any
AT&T Group Member timely or properly to claim any Federal Income Tax Benefits or to exclude income on the appropriate Tax return other than in accordance with Section 34(a)(iii); 

(G) Any failure of the Tax Indemnitee to have taken all the actions, if any, required of it by
Section 34(d) to contest the Loss and such failure 

  
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materially prejudices the ability to contest, and Tower Operator had a reasonable basis for such contest; 

(H) Any change in the Code enacted, adopted or promulgated on or after the date of the Master Agreement;
provided that this exclusion shall not apply to any substitution or replacement of any Included Property after a change in Law; 

(I) The failure of the AT&T Group, or any single AT&T Group Member, to have sufficient income or Tax
liability to benefit from the Federal Income Tax Benefits (it being understood that except as provided herein, this exclusion shall not affect the amount of any indemnity to which an Indemnitee would otherwise be entitled); 

(J) The inclusion of income by an AT&T Group Member as a result of the reversion of Modifications made by
Tower Operator to any AT&T Lessor at the end of the Term; 
 (K) Other than as a result of an event or
circumstance described in Section 34(a)(iii), a determination that AT&T is not holding the Included Property in the ordinary course of a trade or business or that AT&T did not enter into the transactions contemplated by the Transaction
Documents for profit; 
 (L) The existence of, or any consequence of, the prepayment of the Rent, or the
application of Section 467 of the Code or the Treasury regulations promulgated thereunder; provided that the Tower Operator makes all payments when due and accrues all rental expense in accordance with the Proportional Rent as set forth
in Exhibit D and provided, further, that this exclusion shall not apply to the entry into a New Lease under Section 21 following the default or breach by Tower Operator; 

(M) Any Tax election or Tax Position by an AT&T Group Member that is inconsistent with the Tax Assumptions
to the extent of a resulting increase in the Tower Operator’s indemnity obligations hereunder; 
 (N) A
Tax Loss with respect to any period occurring (1) before the Term with respect to a Site, (2) after (and not simultaneously with) the expiration or earlier termination of the Term with respect to a Site or (3) after (and not
simultaneously with) the return to AT&T of the Included Property related to a Site, in each case other than interest, fines, penalties and additions to Tax resulting from a Tax Loss that would not be excluded under this clause (N); and 

(O) The breach or inaccuracy of any representation, warranty or covenant by any AT&T Group Member in any
of the Transaction Documents (except to the extent such breach or inaccuracy is attributed to a breach or inaccuracy of any representation, warranty or covenant of Tower Operator or an Affiliate under the Transaction Documents). 

  
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 (b) General Tax Indemnity. 

(i) Tower Operator agrees to pay and to indemnify, protect, defend, save, and keep harmless each AT&T Group
Member on an after-Tax basis, from and against any and all Taxes for which Tower Operator is responsible under Section 22. 

(ii) Exclusions from General Tax Indemnity. The provisions of Section 22 and Section 34(b)(i)
shall not apply to, and Tower Operator shall have no responsibility under Section 22 and no liability under Section 34(b)(i) with respect to: 

(A) Taxes on any AT&T Group Member imposed on any such member that are franchise Taxes, privilege Taxes,
doing business Taxes or Taxes imposed on, based on or measured by, gross or net income, receipts, capital or net worth of any such member which are imposed by any state, local or other taxing authority within the United States or by any foreign or
international taxing authority (in each case, other than Taxes that are or are in the nature of or in lieu of, sales, use, rental, property, stamp, document filing, license or ad valorem Taxes); 

(B) Taxes imposed by any jurisdiction on any AT&T Group Member solely as a result of its activities in
such jurisdiction unrelated to the transactions contemplated by this Agreement and related documents; 
 (C)
Taxes on any AT&T Group Member that would not have been imposed but for the willful misconduct or gross negligence of any such member or an Affiliate of any AT&T Group Member or the inaccuracy or breach of any representation, warranty, or
covenant of such Tax Indemnitee or any of its Affiliates under the Transaction Documents (except to the extent such inaccuracy or breach is attributed to an inaccuracy or breach of any representation, warranty or covenant of Tower Operator or an
Affiliate under the Transaction Documents); 
 (D) Taxes that are attributable to any period or circumstance
occurring before the Term with respect to a Site or after the expiration or earlier termination of such Term, except to the extent attributable to (1) a failure of Tower Operator or any of its transferees or sublessees or users of the Included
Property (other than the AT&T Lessors or their Affiliates) to fully discharge its obligations under this Agreement and related documents, (2) Taxes imposed on or with respect to any payments that are due after the expiration or earlier
termination of the Term with respect to a Site and that are attributable to a period or circumstance occurring during such Term or (3) the entry into a New Lease under Section 21 following the default or breach by Tower Operator; 

(E) Any Tax that is being contested in accordance with the provisions of Section 34(d) during the
pendency of such contest, but only for so long as such contest is continuing in accordance with Section 34(d) and payment is not otherwise required pursuant to Section 34(d); 

(F) Taxes imposed on a Tax Indemnitee that would not have 

  
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been imposed but for any act of such Tax Indemnitee (or any Affiliate thereof) that is expressly prohibited, or omission of an act that is expressly required, as the case may be, by any
Transaction Document; 
 (G) Taxes that would not have been imposed but for any voluntary sale, assignment,
transfer, pledge or other disposition or hypothecation or the involuntary sale, assignment, transfer or other disposition attributable to a Bankruptcy Event or the breach of any covenant or obligation of the Tax Indemnitee set forth in the
Transaction Documents of or by any such Tax Indemnitee, in either case, of any of the Included Property or portion of such Included Property by any such Tax Indemnitee other than a sale, assignment, transfer, or disposition (1) contemplated by
the Transaction Documents or to or at the request of Tower Operator, (2) otherwise resulting from the exercise by any AT&T Group Member of its rights or performance of its obligations under the Transaction Documents or (3) in
connection with a default by Tower Operator or exercise of remedies under this Agreement; 
 (H) Taxes
imposed on a Tax Indemnitee that would not have been imposed but for such Tax Indemnitee’s (or Affiliate’s) breach of its contest obligations under Section 34(d) (but only to the extent such breach materially prejudices the Tower
Operator’s ability to contest such Taxes or results in an increase in the amount of Tower Operator’s indemnification obligation hereunder); 

(I) Taxes imposed on a Tax Indemnitee in the nature of interest, penalties, fines and additions to Tax to the
extent based upon issues unrelated to the transactions contemplated by the Transaction Documents; 
 (J)
Taxes imposed on any AT&T Group Member that are United States federal, state or local net income Taxes of any such member; 

(K) Taxes imposed in connection with or as a result of the leasing or use of the AT&T Collocation Space by
AT&T or its Affiliates or the payment or accrual of the AT&T Rent Amount; or 
 (L) Taxes to the
extent that they are not the responsibility of Tower Operator as described in Section 20(e) or Section 22 without regard to this subsection. 

The provisions of this Section 34(b)(ii) shall not apply to any Taxes imposed in respect of the receipt or accrual of any
indemnity payment made by Tower Operator on an after-Tax basis and, for purposes of the last sentence of Section 34(c), shall apply only with respect to the exclusions in clauses (C), (F) and (H). 

(iii) Reports. If any report, return, certification or statement is required to be filed with respect to
any Tax that is the responsibility of Tower Operator under Section 22 or is subject to indemnification under this Section 34(b), Tower Operator shall timely prepare and file the same to the fullest extent permitted by applicable Law
(except 

  
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for (A) any report, return or statement relating to any net income Taxes or, (B) any report, return or statement relating to any other Taxes not subject to indemnity under
Section 34(b)(ii) or any Taxes in lieu of or enacted in substitution for any of the foregoing, except that, in such cases, Tower Operator shall timely provide appropriate information necessary to file such report, return or statement,
(C) any report, return or statement relating to Property Taxes or (D) any other report, return, certification or statement that any AT&T Group Member has notified Tower Operator that such member intends to prepare and file);
provided, however, that any AT&T Group Member shall have furnished Tower Operator, at Tower Operator’s expense, with such information reasonably necessary to prepare and file such returns as is within such member’s
control. Tower Operator shall either file such report, return, certification or statement and send a copy of such report, return, certification or statement to the member, or, where not so permitted to file, shall notify the member of such
requirement within a reasonable period of time prior to the due date for filing (without regard to any applicable extensions) and prepare and deliver such report, return, certification or statement to the member. In addition, within a reasonable
time prior to the time such report, return, certification or statement is to be filed, Tower Operator shall, to the fullest extent permitted by applicable Law, cause all billings of such Taxes to be made to each AT&T Group Member in care of
Tower Operator, make such payment and furnish written evidence of such payment. Each Party shall furnish promptly upon written request such data, records and documents as the other Party may reasonably require of such Party to enable the other Party
to comply with requirements of any taxing authority arising out of such other Party’s participation in the transactions contemplated by this Agreement and related documents. 

(iv) Payments. Any Tax for which Tower Operator is responsible under Section 22 or any Tax
indemnified under this Section 34(b) shall be paid by Tower Operator directly when due to the applicable taxing authority if direct payment is permitted, or shall be reimbursed to the appropriate AT&T Group Member on demand if paid by such
member in accordance herewith. Property Taxes shall be paid in accordance with Section 22(c). Except as explicitly provided in Section 22 or as otherwise provided in this Section 34(b), all amounts payable to an AT&T Group Member
under Section 22 or this Section 34 shall be paid promptly in immediately available funds, but in no event later than the later of (i) 10 Business Days after the date of such demand or (ii) 2 Business Days before the date the Tax
to which such amount payable relates is due or is to be paid, provided that such amount shall only be payable after the applicable AT&T Group Member provides Tower Operator with a written statement describing in reasonable detail the Tax
and the computation of the amount payable. Such written statement shall, at Tower Operator’s request, as long as payment is not delayed, be verified by a nationally recognized independent accounting firm selected by Tower Operator. Such
verification shall be at Tower Operator’s expense unless the accounting firm determines that the amount payable by Tower Operator is more than five percent less than the amount shown on such written statement, in which event, the applicable
AT&T Group Member shall pay such costs. In the case of a Tax subject to indemnification under this Section 34(b) which is properly subject to a contest in accordance with Section 34(d), Tower Operator (i) shall be obligated to
make any advances with respect to such Tax whenever required under Section 34(d) and (ii) shall pay such Tax (in the amount finally determined to be owing in such contest) on an after-Tax 

  
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basis prior to the latest time permitted by the relevant taxing authority for timely payment after a Final Determination. 

(c) Tax Savings. If, by reason of any payment made, or any Tax Event or other event giving rise to such payment, to or
for the account of any Tax Indemnitee by Tower Operator pursuant to Section 34(a) or Section 34(b) of this Agreement (a “Triggering Event”), such Tax Indemnitee realizes a Tax Savings in any taxable year which was not
taken into account previously in computing such payment by Tower Operator to or for the account of the Tax Indemnitee, then the Tax Indemnitee shall promptly pay to Tower Operator an amount equal to such Tax Savings. The “Tax
Savings” in a taxable year shall be (i) the actual federal and state income Taxes that would have been payable by the Tax Indemnitee (or its consolidated or affiliated group as applicable) for the taxable year in the absence of the
Triggering Event, over such Taxes that are actually payable for such taxable year taking such Triggering Event into account, (ii) any interest actually received by the Tax Indemnitee as a result of a refund of tax relating to a Triggering
Event, and (iii) an additional gross-up amount to reflect the amount of any additional reduction in Taxes of the Tax Indemnitee attributable to payments made by the Tax Indemnitee pursuant to this sentence, including this clause (iii). However,
the Tax Indemnitee shall not be obligated to make such payment to the extent that the amount of such payment would exceed the excess of (x) all prior related indemnity payments (excluding costs and expenses incurred with respect to contests)
made by Tower Operator over (y) the amount of all prior related indemnity payments by the Tax Indemnitee to Tower Operator; provided, that any such excess Tax Savings realized (or deemed realized) by such Tax Indemnitee which are not
paid to Tower Operator as a result of this sentence shall be carried forward and reduce Tower Operator’s obligations to make subsequent related indemnity payments to such Tax Indemnitee pursuant to this Section 34. For the avoidance of
doubt, a Triggering Event may give rise to a Tax Savings in a past or future taxable year (e.g., if the Triggering Event caused or increased a net operating loss in the year of the Triggering Event and such loss is carried back or forwards
and results in a reduction in Tax liability in a different taxable year). If a Tax Indemnitee pays or credits Tower Operator in respect of a Tax Savings in a particular taxable year, and it is later determined that the Tax Indemnitee did not have a
Tax Savings, or had a smaller Tax Savings, in such taxable year (e.g., as a result of an audit adjustment or a net operating loss carryback to such taxable year), such lost or otherwise unavailable Tax Savings shall be treated as a Tax for
which Tower Operator must indemnify the Tax Indemnitee pursuant to Section 34(a) or Section 34(b), as the case may be. 

(d) Contest Rights. In the event that any Tax Indemnitee receives any written notice of any potential claim or proposed
adjustment against such Tax Indemnitee that would result in a Tax Loss or a Tax against which Tower Operator may be required to indemnify pursuant to Section 34(a) or Section 34(b) (a “Tax Claim”), such Tax Indemnitee
shall promptly notify Tower Operator of the claim and provide Tower Operator with information relevant to such claim; provided that the failure by the Tax Indemnitee to provide any such information shall not be treated as a failure to comply
with this Section 34(d) except to the extent that the failure prejudices the conduct of such contest. With respect to Taxes indemnified under Section 34(b), Tower Operator shall control the contest at Tower Operator’s expense. With
respect to Taxes indemnified under Section 34(a), the Tax Indemnitee shall control the contest at Tower Operator’s expense but shall consult with Tower Operator in good faith, but Tower Operator may require the Tax Indemnitee to contest
such Tax Claim unless the Tax Indemnitee has 

  
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waived its right to indemnification for the Tax payment that is being contested. The Tax Indemnitee is not obligated to contest any Tax Claim that requires payment of the Tax as a condition to
pursuing the contest unless Tower Operator has loaned, on an interest-free basis, sufficient funds to the Tax Indemnitee to pay the Tax and any interest or penalties due on the date of payment, and has fully indemnified the Tax Indemnitee for any
adverse Tax consequences resulting from such advance. The Tax Indemnitee shall not make, accept or enter into a settlement or other compromise with respect to any Taxes that the Tower Operator has the right to contest under this Agreement without
the prior written consent of Tower Operator unless the Tax Indemnitee has waived its right to indemnification for the Tax payment that is being contested. The Tax Indemnitee shall not be required to appeal any adverse decision of the United States
Tax Court, a Federal District Court or any comparable trial court unless (i) Tower Operator shall have furnished to the Tax Indemnitee an opinion of a nationally recognized, independent tax counsel chosen by Tower Operator and reasonably
acceptable to the Tax Indemnitee, to the effect that there is substantial authority for the position to be asserted in appealing the matter in question, (ii) Tower Operator is paying the reasonable costs of such appeal and (iii) the Tax
Indemnitee is otherwise required by this Section 34(d) to contest the Taxes at issue hereunder. AT&T Collocator shall cause its Affiliates to comply with their obligations under this Section 34(d). 

(e) Tax Records. AT&T Lessors, AT&T and Tower Operator agree to furnish or cause to be furnished to each other,
upon request, as promptly as practicable, such information and assistance relating to the Sites (including access to books and records) as is reasonably necessary for Tax purposes. AT&T Lessors, AT&T and Tower Operator shall retain all books
and records with respect to Taxes indemnifiable under Section 34(a) or Section 34(b) or payable under Section 22 pertaining to the Sites for a period of at least seven years following the close of the taxable year to which the
information relates, or 60 days after the expiration of any applicable statute of limitations, whichever is later. At the end of such period, each Party shall provide the other with at least 60 days’ prior written notice before destroying any
such books and records, during which period the Party receiving such notice can elect to take possession, at its own expense, of any books and records reasonably required by such Party for Tax purposes. AT&T Lessors, AT&T and Tower Operator
shall cooperate with each other in the conduct of any audit or other proceeding relating to Taxes involving the Sites. 

(f) Netting of Losses; Tax Treatment. All payments made pursuant to this Section 34 shall, to the fullest extent
permitted by applicable Law, be treated for all Tax purposes (to the extent such treatment is consistent with the rent allocations made for purposes of Section 467 of the Code pursuant to Section 10 of this Agreement) as adjustments to the
Rent and Pre-Lease Rent. The amount of any claim under this Section 34 shall take into account any amounts actually recovered by the indemnitee pursuant to any indemnification by, or indemnification agreement with, any Ground Lessor. 

(g) Post Purchase Option. In the event that Tower Operator acquires any AT&T Lessor’s or any AT&T Ground
Lease Party’s interest in any Site after the exercise of any Purchase Option under Section 20 of this Agreement, Tower Operator shall be liable for all Taxes with respect to such Site with respect to all periods after the exercise of the
Purchase Option with respect to such Site (the “Post-Exercise Period”). Tower Operator agrees to pay and to indemnify, protect, defend, save and keep harmless each AT&T Group Member from and

  
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against any and all Taxes payable with respect to such Site with respect to the Post-Exercise Period; provided, however, that (i) the contest provisions set forth in
Section 34(d) shall apply to indemnified Taxes with respect to such Site and (ii) Tower Operator shall not be required to indemnify for any gross-up for Taxes payable by any AT&T Group Member on any payments received under this
paragraph. If a Tax for which Tower Operator is responsible under this Section 34(g) (for which Tower Operator was not responsible prior to the Post-Exercise Period) is not calculated or assessed on the basis of a time period, such Tax shall be
prorated using a fair and equitable proration method that considers, among other things, the basis upon which such Taxes are assessed. Nothing in this Section 34(g) shall affect any liability for Taxes with respect to any Site prior to the
exercise of a Purchase Option with respect to such Site or any liability for Taxes that any AT&T Group Member has under the MPL Site MLA. 

(h) Survival. The agreements and indemnities contained in this Section 34 shall survive the termination of this
Agreement with respect to any Site. 
 SECTION 35. Damage to the Site, Tower or the Improvements. 

(a) If there occurs a casualty that damages or destroys all or a Substantial Portion of any Site, then within 60 days after
the date of the casualty, Tower Operator shall notify the applicable AT&T Lessor or AT&T Ground Lease Party in writing as to whether, in Tower Operator’s reasonable judgment, the Site is a Non-Restorable Site, which notice shall specify
in detail the reasons for such determination by Tower Operator, and if such Site is not a Non-Restorable Site (a “Restorable Site”) the estimated time, in Tower Operator’s reasonable judgment, required for Restoration of the
Site (a “Casualty Notice”). If Tower Operator fails to give Casualty Notice to the applicable AT&T Lessor or AT&T Ground Lease Party within such 60-day period, the affected Site shall be deemed to be a Restorable Site. If
the applicable AT&T Lessor or AT&T Ground Lease Party disagrees with any determination of Tower Operator in the Casualty Notice that the Site is a Non-Restorable Site, such Party may institute arbitration proceedings to determine any such
matter in the manner described in Section 29(g). If such Site is a Non-Restorable Site, then either Tower Operator or the applicable AT&T Lessor or AT&T Ground Lease Party, as applicable, shall have the right to terminate this Agreement
with respect to such Site by written notice to the other Party (given within the time period required below), whereupon the Term as to such Site shall automatically expire as of the date of such notice of termination. Any such notice of termination
shall be given not later than 30 days after receipt of the Casualty Notice (or after final determination that the Site is a Non-Restorable Site if arbitration is instituted as provided above). In all instances Tower Operator shall have the sole
right to retain all insurance Proceeds related to a Non-Restorable Site. 
 (b) If there occurs, as to any Site, a casualty
that damages or destroys (i) all or a Substantial Portion of such Site and the Site is a Restorable Site, or (ii) less than a Substantial Portion of any Site, then Tower Operator, at its sole cost and expense, shall promptly commence and
diligently prosecute to completion, within a period of 60 days after the date of the damage, the adjustment of Tower Operator’s insurance Claims with respect to such event and, thereafter, promptly commence, and diligently prosecute to
completion, the Restoration of the Site. The Restoration shall be carried on and completed in accordance with the provisions and conditions of this Section 35. 

  
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 (c) If Tower Operator is required to restore any Site in accordance with
Section 35(b), all Proceeds of Tower Operator’s insurance Claims with respect to the related casualty shall be held by Tower Operator or Tower Operator Lender and applied to the payment of the costs of the Restoration and shall be paid out
from time to time as the Restoration progresses. Any portion of the Proceeds of Tower Operator’s insurance applicable to a particular Site remaining after final payment has been made for work performed on such Site may be retained by and shall
be the property of Tower Operator. If the cost of Restoration exceeds the Proceeds of Tower Operator’s insurance, Tower Operator shall pay the excess cost. 

(d) Without limiting Tower Operator’s obligations under this Agreement in respect of a Site subject to a casualty, the
AT&T Collocator’s rights and obligations in respect of a Site subject to a casualty are as set forth in the MPL Site MLA. 

(e) The Parties acknowledge and agree that this Section 35 is in lieu of and supersedes any statutory requirements under
the laws of any State applicable to the matters set forth in this Section 35. 
 SECTION 36. Condemnation.

 (a) If there occurs a Taking of all or a Substantial Portion of any Site, other than a Taking for temporary use, then
either Tower Operator or AT&T Lessors shall have the right to terminate this Agreement as to such Site by providing written notice to the other within 30 days of the occurrence of such Taking, whereupon the Term shall automatically expire as to
such Site, as of the earlier of (i) the date upon which title to such Site, or any portion of such Site, is vested in the condemning authority, or (ii) the date upon which possession of such Site or portion of such Site is taken by the
condemning authority, as if such date were the Site Expiration Date as to such Site, and each Party shall be entitled to prosecute, claim and retain the entire Award attributable to its respective interest in such Site under this Agreement. 

(b) If there occurs a Taking of less than a Substantial Portion of any Site, then this Agreement and all duties and
obligations of Tower Operator under this Agreement in respect of such Site shall remain unmodified, unaffected and in full force and effect. Tower Operator shall promptly proceed with the Restoration of the remaining portion of such Site (to the
extent commercially feasible) to a condition substantially equivalent to its condition prior to the Taking. Tower Operator shall be entitled to apply the Award received by Tower Operator to the Restoration of any Site from time to time as such work
progresses. If the cost of the Restoration exceeds the Award recovered by Tower Operator, Tower Operator shall pay the excess cost. If the Award exceeds the cost of the Restoration, the excess shall be paid to Tower Operator upon completion of the
Restoration. 
 (c) If there occurs a Taking of any portion of any Site for temporary use, then this Agreement shall remain
in full force and effect as to such Site. Notwithstanding anything to the contrary contained in this Agreement, during such time as Tower Operator will be out of possession of such Site, if a Lease Site, or unable to operate such Site, if a Managed
Site, by reason of such Taking, the failure to keep, observe, perform, satisfy and comply with those terms and conditions of this Agreement, compliance with which are effectively impractical or impossible as a result of Tower Operator’s being
out of possession of or unable to operate (as 

  
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applicable), such Site shall not be a breach of or an event of default under this Agreement. Each Party shall be entitled to prosecute, claim and retain the Award attributable to its respective
interest in such Site under this Agreement for any such temporary Taking. 
 SECTION 37. General Provisions.

 (a) Counterparts. This Agreement may be executed in any number of counterparts, each such counterpart being deemed
to be an original instrument, and all such counterparts shall together constitute the same agreement. 
 (b) Governing
Law; Submission to Jurisdiction; Selection of Forum; Waiver of Trial by Jury. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (REGARDLESS OF THE LAWS THAT MIGHT OTHERWISE GOVERN UNDER
APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS THEREOF) AS TO ALL MATTERS, INCLUDING MATTERS OF VALIDITY, CONSTRUCTION, EFFECT, PERFORMANCE AND REMEDIES; provided, however, that the enforcement of this Agreement with respect to a
particular Site as to matters relating to real property and matters mandatorily governed by local Law, shall be governed by and construed in accordance with the laws of the state in which the Site in question is located. Each Party agrees that it
shall bring any action or proceeding in respect of any claim arising out of or related to this Agreement or the transactions contained in or contemplated by this Agreement, exclusively in the United States District Court for the Southern District of
New York or any New York State court sitting in the Borough of Manhattan, City of New York and appellate courts having jurisdiction of appeals from any of the foregoing (the “Chosen Courts”), and solely in connection with claims
arising under this Agreement or the transactions that are the subject of this Agreement, (a) irrevocably submits to the exclusive jurisdiction of the Chosen Courts, (b) waives any objection to laying venue in any such action or proceeding
in the Chosen Courts, (c) waives any objection that the Chosen Courts are an inconvenient forum or do not have jurisdiction over any Party hereto and (d) agrees that service of process upon such Party in any such action or proceeding shall
be effective if notice is given in accordance with Section 37(e) of this Agreement. Each Party hereto irrevocably waives any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions
contemplated hereby. 
 (c) Entire Agreement. This Agreement (including any exhibits hereto) constitutes the entire
agreement among the Parties with respect to the subject matter of this Agreement, and supersedes all other prior agreements, understandings, representations and warranties both written and oral, among the Parties, with respect to the subject matter
hereof. 
 (d) Fees and Expenses. Except as otherwise expressly set forth in this Agreement, whether the transactions
contemplated by this Agreement are or are not consummated, all legal and other costs and expenses incurred in connection with this Agreement and the transactions contemplated by this Agreement shall be paid by the Party incurring such costs and
expenses. 
 (e) Notices. All notices, requests, demands, waivers and other communications required or permitted
under this Agreement shall be in writing and shall be 

  
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deemed to have been delivered (i) the next Business Day when sent overnight by a nationally recognized overnight courier service, (ii) upon transmission of an e-mail (followed by
delivery of an original via nationally recognized overnight courier service), or (iii) upon delivery when personally delivered to the receiving Party. All such notices and communications shall be sent or delivered as set forth below or to such
other person(s), e-mail address or address(es) as the receiving Party may have designated by written notice to the other Party. All notices delivered by any AT&T Group Member shall be deemed to have been delivered on behalf of all AT&T Group
Members. All notices shall be delivered to the relevant Party at the address set forth below. 
 If to any AT&T Lessor,
AT&T Guarantor or any other AT&T Group Member, to: 
 c/o New Cingular Wireless PCS, LLC 

Attention: Network Real Estate Administration 

Re: Cell Site #:
                    ; Cell Site Name:
                     (State Abbreviation) 

Fixed Asset No:
                     

575 Morosgo Drive 

13-F West Tower 

Atlanta, Georgia 30324 

New Cingular Wireless PCS, LLC 

Attention: Network Counsel, AT&T Legal Department 

Re: Cell Site #:
                    ; Cell Site Name:
                     (State Abbreviation) 

Fixed Asset No:
                         

208 South Akard Street 

Dallas, Texas, 75202-4206 

and (for sites in Puerto Rico) a copy to: 

New Cingular Wireless PCS, LLC 

Attention: AT&T Legal Department 

Re: Cell Site #:
                    ; Cell Site Name:
                     (State Abbreviation) 

Fixed Asset No:
                     

Ortegon 103 

Guaynabo, Puerto Rico 00966 

and a copy of any notice given pursuant to Section 29 to: 

AT&T Inc. 

208 South Akard Street 

Dallas, Texas, 75202-4206 

Attention: SVP and Assistant General Counsel – Corporate 

  
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 If to Tower Operator, to: 

Crown Castle International Corp. 

1220 Augusta Drive, Suite 600 

Houston, Texas 77057 

Attention: CFO (Jay Brown) 

Attention: General Counsel (E. Blake Hawk) 

and a copy of any notice given pursuant to Section 29 to: 

Crown Castle International Corp. 

1220 Augusta Drive, Suite 600 

Houston, Texas 77057 

Attention: Legal Department 

(f) Successors and Assigns; Third-Party Beneficiaries. This Agreement shall be binding upon and inure solely to the
benefit of each Party and its successors, heirs, legal representatives and permitted assigns. Except as provided in the provisions of this Agreement related to indemnification, Secured Tower Operator Loans and Tower Operator Lender protections
(including Section 21), this Agreement is not intended to confer upon any Person other than the Parties any rights or remedies hereunder. 

(g) Amendment; Waivers; Etc. No amendment, modification or discharge of this Agreement, and no waiver hereunder, shall
be valid or binding unless set forth in writing and duly executed by the Party against which enforcement of the amendment, modification, discharge or waiver is sought. Any such waiver shall constitute a waiver only with respect to the specific
matter described in such writing and shall in no way impair the rights of the Party granting such waiver in any other respect or at any other time. The waiver by a Party of a breach of or a default under any of the provisions of this Agreement or to
exercise any right or privilege hereunder, shall not be construed as a waiver of any other breach or default of a similar nature, or as a waiver of any of such provisions, rights or privileges hereunder. The rights and remedies herein provided are
cumulative and none is exclusive of any other, or of any rights or remedies that any party may otherwise have at law or in equity. 

(h) Time of the Essence. Time is of the essence in this Agreement, and whenever a date or time is set forth in this
Agreement, the same has entered into and formed a part of the consideration for this Agreement. 
 (i) Specific
Performance. The Parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof and that the parties shall be entitled to an injunction or injunctions to prevent
breaches of this Agreement or to enforce specifically the performance of the terms and provisions hereof in any of the Chosen Courts to the extent permitted by applicable Law, in addition to any other remedy to which they are entitled at law or in
equity. Each Party hereby waives any requirement for security or the posting of any bond or other surety in connection with any temporary or permanent award of injunctive, mandatory or other equitable relief. Subject to Section 37(b) and
Section 37(j) of this Agreement, nothing contained in this Agreement shall be construed as prohibiting any Party from pursuing any other remedies available to it pursuant to the provisions 

  
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of this Agreement or applicable Law for such breach or threatened breach, including the recovery of damages. 

(j) Limitation of Liability. Notwithstanding anything in this Agreement to the contrary, neither Party shall have any
liability under this Agreement, for: (y) any punitive or exemplary damages, or (z) any special, consequential, incidental or indirect damages, including lost profits, lost data, lost revenues and loss of business opportunity, whether or
not the other Party was aware or should have been aware of the possibility of these damages. 
 (k) Severability. If
any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of Law or public policy, the Parties hereto shall negotiate in good faith to modify this Agreement so as to (i) effect the original
intent of the Parties as closely as possible and (ii) to ensure that the economic and legal substance of the transactions contemplated by this Agreement to the Parties is not materially and adversely affected as a result of such provision being
invalid, illegal or incapable of being enforced, in each case, in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible. If following the
modification(s) to this Agreement described in the foregoing sentence, the economic and legal substance of the transactions contemplated by this Agreement are not affected in any manner materially adverse to any Party, all other conditions and
provisions of this Agreement shall remain in full force and effect. 
 (l) Interpretation. 

(i) The table of contents and headings herein are for convenience of reference only, do not constitute part of
this Agreement and shall not be deemed to limit or otherwise affect any of the provisions hereof. 
 (ii) The
Parties have participated jointly in negotiating and drafting this Agreement. In the event that an ambiguity or a question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties, and no presumption
or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any provision of this Agreement. 

SECTION 38. AT&T Guarantor Guarantee. 

(a) As of the date hereof, AT&T Guarantor holds all or substantially all of AT&T Parent’s United States domestic
wireless business (including wireless voice and data and the assets for the United States domestic wireless business). In the event AT&T Guarantor does not hold all or substantially all of AT&T Parent’s United States domestic wireless
business (including wireless voice and data and the assets for the United States domestic wireless business) and AT&T Parent or another Affiliate of AT&T Parent does hold all or substantially all of AT&T Parent’s United States
domestic wireless business (and all or substantially all of the United States domestic wireless business (including wireless voice and data and the assets for the United States domestic wireless business) of AT&T Guarantor shall not have been
transferred to a Person that is not an Affiliate of AT&T Parent), AT&T Parent or such other Affiliate of AT&T Parent shall execute a joinder to this Agreement reasonably satisfactory to Tower Operator

  
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providing for a guarantee of the AT&T Obligations equivalent to the guarantee provided by AT&T Guarantor as of the date hereof and shall become “AT&T Guarantor” for all
purposes hereunder. For purposes of this section, the term “United States” shall include Puerto Rico and the United States Virgin Islands. 

(b) AT&T Guarantor unconditionally guarantees to the Tower Operator Indemnitees the full and timely payment and
performance and observance of all the terms, provisions, covenants and obligations of the AT&T Lessors and AT&T Ground Lease Parties under this Agreement (collectively, the “AT&T Obligations”). AT&T Guarantor agrees
that if an AT&T Lessor or AT&T Ground Lease Party defaults at any time during the Term of this Agreement in the performance of any of the AT&T Obligations, AT&T Guarantor shall faithfully perform and fulfill all AT&T Obligations
and shall pay to the applicable beneficiary all reasonable attorneys’ fees, court costs and other expenses, costs and disbursements incurred by the applicable beneficiary on account of any default by an AT&T Lessor or AT&T Ground Lease
Party and on account of the enforcement of this guaranty. 
 (c) The foregoing guaranty obligation of AT&T Guarantor
shall be enforceable by any Tower Operator Indemnitee in an action against AT&T Guarantor without the necessity of any suit, action or proceeding by the applicable beneficiary of any kind or nature whatsoever against an AT&T Lessor or
AT&T Ground Lease Party, without the necessity of any notice to AT&T Guarantor of an AT&T Lessor’s or AT&T Ground Lease Party’s default or breach under this Agreement, and without the necessity of any other notice or demand
to AT&T Guarantor to which AT&T Guarantor might otherwise be entitled, all of which notices AT&T Guarantor hereby expressly waives. AT&T Guarantor hereby agrees that the validity of this guaranty and the obligations of AT&T
Guarantor hereunder shall not be terminated, affected, diminished or impaired by reason of the assertion or the failure to assert by any Tower Operator Indemnitee against an AT&T Lessor or AT&T Ground Lease Party any of the rights or
remedies reserved to such Tower Operator Indemnitee pursuant to the provisions of this Agreement or any other remedy or right which such Tower Operator Indemnitee may have at law or in equity or otherwise. 

(d) AT&T Guarantor covenants and agrees that this guaranty is an absolute, unconditional, irrevocable and continuing
guaranty. The liability of AT&T Guarantor hereunder shall not be affected, modified or diminished by reason of any assignment, renewal, modification, extension or termination of this Agreement or any modification or waiver of or change in any of
the covenants and terms of this Agreement by agreement of an Tower Operator Indemnitee and an AT&T Lessor or AT&T Ground Lease Party, or by any unilateral action of an Tower Operator Indemnitee, an AT&T Lessor or an AT&T Ground Lease
Party, or by an extension of time that may be granted by an Tower Operator Indemnitee to an AT&T Lessor or AT&T Ground Lease Party or any indulgence of any kind granted to an AT&T Lessor or AT&T Ground Lease Party, or any dealings or
transactions occurring between an Tower Operator Indemnitee and an AT&T Lessor or AT&T Ground Lease Party, including any adjustment, compromise, settlement, accord and satisfaction or release, or any Bankruptcy, insolvency, reorganization or
other arrangements affecting an AT&T Lessor or AT&T Ground Lease Party. AT&T Guarantor does hereby expressly waive any suretyship defenses it might otherwise have. 

  
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 (e) All of the Tower Operator Indemnitees’ rights and remedies under this
guaranty are intended to be distinct, separate and cumulative and no such right and remedy herein is intended to be to the exclusion of or a waiver of any other. AT&T Guarantor hereby waives presentment demand for performance, notice of
nonperformance, protest notice of protest, notice of dishonor and notice of acceptance. AT&T Guarantor further waives any right to require that an action be brought against an AT&T Lessor or AT&T Ground Lease Party or any other Person or
to require that resort be had by a beneficiary to any security held by such beneficiary. 
 SECTION 39. AT&T
Parent Affiliate License. In the event that AT&T Guarantor ceases to be wholly owned, directly or indirectly, by AT&T Parent, to the extent that any Person that is directly or indirectly wholly owned by AT&T Parent but that is not
directly or indirectly wholly owned by AT&T Guarantor used any Site as of the date AT&T Guarantor ceased to be directly or indirectly wholly owned by AT&T Parent (such Person, an “AT&T Parent Affiliate”), such
AT&T Parent Affiliate and Tower Operator shall, following AT&T Parent Affiliate’s completion of the applicable application and amendment process, enter into definitive documentation reasonably satisfactory to Tower Operator to permit
such AT&T Parent Affiliate to continue to use such Site (the “AT&T Parent Affiliate License”), in each case at the sole cost and expense of such AT&T Parent Affiliate. The AT&T Parent Affiliate License shall provide
that such AT&T Parent Affiliate may continue to use the applicable Site subject to the terms of the MPL Site MLA solely to the extent that such AT&T Parent Affiliate used such Site as of the date AT&T Guarantor ceased to be directly or
indirectly wholly owned by AT&T Parent, at no additional rent to such AT&T Parent Affiliate; provided, however, that the AT&T Parent Affiliate License shall provide that such AT&T Parent Affiliate shall pay customary and reasonable
rent with respect to any use of any portion of such Site (including the AT&T Collocation Space at such Site) first used by such AT&T Parent Affiliate on or after the date that is one year prior to the earlier of (a) the first public
announcement of the transaction pursuant to which AT&T Guarantor ceased to be directly or indirectly wholly owned by AT&T Parent and (b) the date on which definitive documentation was entered into with respect to the transaction
pursuant to which AT&T Guarantor ceased to be directly or indirectly wholly owned by AT&T Parent. For the avoidance of doubt, (i) any portion of any Site (including the AT&T Collocation Space at such Site) used from time to time by
any AT&T Parent Affiliate shall be deemed to be used by AT&T Collocator for all purposes under MPL Site MLA and (ii) except as otherwise expressly provided in the AT&T Parent Affiliate License or other definitive documentation
entered into by Tower Operator and AT&T Parent Affiliate, AT&T Parent Affiliate shall use the applicable Site (including the AT&T Collocation Space at such Site) only to the extent permitted under the MPL Site MLA (including
Section 9(b) thereof). 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed and
sealed by their duly authorized representatives, all effective as of the day and year first written above. 
  

			
	 AT&T LESSORS:

		
		 	[INSERT SIGNATURE BLOCKS FOR:
		
		 	 Acadiana MPL Tower Holdings LLC

		 	 AMWOHI MPL Tower Holdings LLC

		 	 Chattanooga MPL Tower Holdings LLC

		 	 Citrus MPL Tower Holdings LLC

		 	 Florida 2B MPL Tower Holdings LLC

		 	 Galveston MPL Tower Holdings LLC

		 	 Georgia 3 MPL Tower Holdings LLC

		 	 Houma-Thibodaux MPL Tower Holdings LLC

		 	 Lafayette MPL Tower Holdings LLC

		 	 Louisiana 7 MPL Tower Holdings LLC

		 	 Louisiana 8 MPL Tower Holdings LLC

		 	 Lubbock MPL Tower Holdings LLC

		 	 Madison MPL Tower Holdings LLC

		 	McAllen-Edinburg-Mission MPL Tower Holdings LLC
		 	 Milwaukee MPL Tower Holdings LLC

		 	 Missouri 11-12 MPL Tower Holdings LLC

		 	 Missouri 8 MPL Tower Holdings LLC

		 	 Missouri 9 MPL Tower Holdings LLC

		 	 Northeast Georgia MPL Tower Holdings LLC

		 	 Oklahoma 3 MPL Tower Holdings LLC

		 	 Oklahoma 9 MPL Tower Holdings LLC

		 	 Oklahoma City MPL Tower Holdings LLC

		 	 NCWPCS MPL 19 -Year Sites Tower Holdings LLC

		 	 NCWPCS MPL 20 -Year Sites Tower Holdings LLC

		 	 NCWPCS MPL 21 -Year Sites Tower Holdings LLC

		 	 NCWPCS MPL 22 -Year Sites Tower Holdings LLC

		 	 NCWPCS MPL 23 -Year Sites Tower Holdings LLC

		 	 NCWPCS MPL 24 -Year Sites Tower Holdings LLC

		 	 NCWPCS MPL 25 -Year Sites Tower Holdings LLC

  
 -90- 

 
					
		 	 NCWPCS MPL 26 -Year Sites Tower Holdings LLC

		 	 NCWPCS MPL 27 -Year Sites Tower Holdings LLC

		 	 NCWPCS MPL 28 -Year Sites Tower Holdings LLC

		 	 NCWPCS MPL 29 -Year Sites Tower Holdings LLC

		 	 NCWPCS MPL 30 -Year Sites Tower Holdings LLC

		 	 NCWPCS MPL 31 -Year Sites Tower Holdings LLC

		 	 NCWPCS MPL 32 -Year Sites Tower Holdings LLC

		 	 NCWPCS MPL 33 -Year Sites Tower Holdings LLC

		 	 NCWPCS MPL 34 -Year Sites Tower Holdings LLC

		 	 NCWPCS MPL 35 -Year Sites Tower Holdings LLC

		 	 Orlando MPL Tower Holdings LLC

		 	 Santa Barbara MPL Tower Holdings LLC

		 	 Texas #11 MPL Tower Holdings LLC

		 	 Texas #16 MPL Tower Holdings LLC

		 	 Texas 6 MPL Tower Holdings LLC

		 	 Texas 7B1 MPL Tower Holdings LLC

		 	 Texas 9B1 MPL Tower Holdings LLC

		 	 Texas 18 MPL Tower Holdings LLC

		 	 Texas 19 MPL Tower Holdings LLC

		 	 Texas 20B1 MPL Tower Holdings LLC

		 	 Topeka MPL Tower Holdings LLC]

		
	 By:
	 	  

		 	 Name:
	 	
		 	 Title:
	 	
	
	 AT&T GUARANTOR:

	
	 AT&T MOBILITY LLC

		
	 By:
	 	  

		 	 Name:
	 	
		 	 Title:
	 	

  
 -91- 

 
			
	 TOWER OPERATOR:

	
	
[                             
                                       
]

		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
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