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 Exhibit 10.42 

EXECUTION VERSION 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE 

EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE 

COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. 
  

 
 AGREEMENT FOR THE SALE AND PURCHASE OF THE
TOWERS LATAM 
 DIVISION OF TELXIUS TELECOM, S.A. 
  

between 
  

TELXIUS TELECOM, S.A. 
 as Seller 

 
 AMERICAN TOWER INTERNATIONAL, INC. 

as Buyer 
  

and 
  

AMERICAN TOWER INTERNATIONAL, INC. 
 as
Guarantor 
  
 Madrid, 13 January 2021 

 

  

INDEX 
  

							
	 1.
	 	DEFINITIONS AND INTERPRETATION	  	 	8	 
			
	 2.
	 	PURPOSE OF THE AGREEMENT	  	 	23	 
			
	 3.
	 	CONSIDERATION	  	 	25	 
			
	 4.
	 	CONDITIONS PRECEDENT	  	 	30	 
			
	 5.
	 	COVENANTS IN THE INTERIM PERIOD	  	 	35	 
			
	 6.
	 	CLOSING	  	 	41	 
			
	 7.
	 	GENERAL WARRANTIES OF THE PARTIES	  	 	44	 
			
	 8.
	 	SPECIFIC WARRANTIES OF THE SELLER	  	 	45	 
			
	 9.
	 	TERMINATION	  	 	56	 
			
	 10.
	 	OTHER RIGHTS AND UNDERTAKINGS OF THE PARTIES	  	 	59	 
			
	 11.
	 	GUARANTEE OF BUYER’S OBLIGATIONS	  	 	62	 
			
	 12.
	 	ASSIGNMENT	  	 	63	 
			
	 13.
	 	DUTY OF CONFIDENTIALITY	  	 	63	 
			
	 14.
	 	MISCELLANEOUS	  	 	65	 
			
	 15.  
	 	CHOICE OF LAW AND ARBITRATION	  	 	69	 

  
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 List of Schedules 
  

			
	Schedule	  	Description
		
	 Schedule 1
	  	 Titles of Ownership

		
	 Schedule 2
	  	 Calculation of Adjusted Net Debt

		
	 Schedule 3
	  	 Confirmation letter issued by Bank of America, N.A. and BofA Securities Inc.

		
	 Schedule 4
	  	 Scope of work of the Auditor (agreed-upon procedures)

		
	 Schedule 5
	  	 Average monthly capex for the individual quarters

		
	 Schedule 6
	  	 Actions expressly permitted during the Interim Period

		
	 Schedule 7
	  	 Forms of Service Agreement Side Letters

		
	 Schedule 8
	  	 Anti-embarrassment - Implicit value per site resulting from this Transaction

		
	 Schedule 9
	  	 Third Party Waivers

  
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 AGREEMENT FOR THE SALE AND PURCHASE OF THE TOWERS LATAM 

DIVISION OF TELXIUS TELECOM, S.A. 
 In Madrid,
on 13 January 2021. 
 ON ONE PART, 

TELXIUS TELECOM, S.A., a company incorporated under the laws of Spain, with registered office at Ronda de la Comunicación,
s/n – Distrito Telefónica, Madrid, 28050, incorporated on 10 October 2012 (as Telefónica América, S.A.), by means of a public deed executed on that date before the notary public of Madrid Mr. Jesús Roa
Martínez, under number 861 of his files, registered with the Commercial Register of Madrid, under volume 30377, sheet 55, page number M-546694, and with Tax Identification Number A-86565926 (the “Seller”). 
 The Seller is represented by Mr. José
Manuel Santero Muñoz, a Spanish national, of legal age, with professional domicile at Ronda de la Comunicación, s/n, 28050 Madrid, Spain and with Spanish identity card number 06559801-V, who is
acting as representative of the Seller pursuant to a Board of Directors resolution of Telxius Telecom, S.A. dated 12 January 2021. 
 ON THE OTHER PART,

 AMERICAN TOWER INTERNATIONAL, INC., a company incorporated under the laws of Delaware, with registered office at 116
Huntington Avenue, Boston Massachusetts, 02116, United States (the “Buyer”). 
 The Buyer is represented by
Mr. Edmund DiSanto, of legal age, with professional domicile at 116 Huntington Avenue, Boston, Massachusetts, 02116, United States, who is acting as representative of the Buyer pursuant to an Action by Unanimous Written Consent of American
Tower International, Inc dated 1 July 2019.  
 AND ON THE OTHER PART, 

If the Buyer assigns all or part of its rights and obligations under this Agreement to one or more of its Affiliates, AMERICAN TOWER
INTERNATIONAL, INC., a company incorporated under the laws of Delaware, with registered office at 116 Huntington Avenue, Boston Massachusetts, 02116, United States (the “Guarantor”). 

The Guarantor is represented by Mr. Edmund DiSanto, of legal age, with professional domicile at 116 Huntington Avenue, Boston,
Massachusetts, 02116, United States, who is acting as representative of the Guarantor pursuant to an Action by Unanimous Written Consent of American Tower International, Inc dated 1 July 2019. 

The Seller and the Buyer (jointly, the “Parties” and each, a “Party”) and the Guarantor mutually
acknowledge their respective capacity and legal standing 

  
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(legitimación) to enter into this Agreement for the Sale and Purchase of the Towers Latam Division of Telxius Telecom, S.A. (the “Agreement”) and the validity and
sufficiency of the representative powers of their respective signatories. 
 RECITALS 

 

	I.	 The Seller is the owner of a division (the “Telxius Towers Latam Division”) engaged in the
construction, holding, management and operation of telecommunication tower infrastructures (including the acquisition and/or lease of properties related to the telecommunications infrastructure business) and of distributed antenna systems and small
cells, which provides co-location services on multi-tenant telecom towers mainly to wireless service providers and wireless data providers, both to companies of the Telefónica Group (as defined below)
and third parties, through a vast portfolio of cellular wireless telecommunication towers in Argentina, Brazil, Chile and Peru (the “Business”). 

 

	II.	 In this regard, the Seller is, directly or indirectly, the owner of 100% of the share capital of the following
companies (the “Companies”) that form the Telxius Towers Latam Division and develop the Business in each of the above referred countries: 

In Spain: 
  

	 	(i)	 The Seller is the direct owner of 100% of the share capital of Telxius Torres Latam, S.L.U., a Spanish limited
liability company (sociedad de responsabilidad limitada) incorporated under the laws of Spain, with corporate domicile at Ronda de la Comunicación, s/n – Distrito Telefónica, 28050 Madrid, registered at the Commercial
Register of Madrid at volume 34,395, sheet 28, page number M-618673, and with Spanish Tax Identification Number B-87485736 (“Towers Latam”).

 Towers Latam is a holding company that, in turn, is the direct or indirect owner of the share capital of the
following companies developing the Business in Argentina, Brazil, Chile and Peru, as it is indicated below: 
 In Argentina:

  

	 	(ii)	 Towers Latam is the direct owner of 95% of the share capital of Telxius Torres Argentina S.A., an Argentinian
corporation incorporated under the laws of Argentina, with corporate domicile at, Av. Independencia 169, Planta Baja, de la Ciudad Autónoma de Buenos Aires registered with the Inspección General de Justicia, under number 1912773 Book
84, and with Argentinian Tax Identification Number CUIT 30-71565046-7 (“Towers Argentina”). The remaining 5% of the share capital of Towers Argentina
(the “Minority Argentinian Stake”) is directly owned by the Seller as of the date hereof. 

Towers Argentina (the “Argentinian Company”) is the company through which the Seller develops the Business in
Argentina. 

  
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 In Brazil: 
  

	 	(iii)	 Towers Latam is the direct owner of 100% of the share capital of Telxius Torres Brasil Ltda., a Brazilian limited
liability company incorporated under the laws of Brazil, with corporate domicile at Av. das Nações Unidas, 14.401 -– Vila Gertrudes, 29o Subdistrito, 3a andar – conj 31 – Chácara Santo Antônio CEP 004794-000 - São Paulo – SP – Brasil, registered with the Junta Comercial do Estado de São Paulo (“JUCESP”), under number NIRE 35.229.605.787 and with Brazilian Tax
Identification Number CNPJ 23.842.855 / 0001-65 (“Towers Brazil”). 

Towers Brazil is in turn the direct owner of 100% of the share capital of Inmosites Brasil Participaçoes Imobiliarias Ltda., a
Brazilian limited liability company incorporated under the laws of Brazil, with corporate domicile at Av. das Nações Unidas, 14.401 CONJ 31 Andar 3 Bloco Torre Corporativa A2 sala Madri Setor A Cond Parque Da Cidade Vila Gertrudes
04794000 Sao Paulo, Brazil, registered with the Junta Comercial do Estado de São Paulo (“JUCESP”) under number NIRE 35236361634, and with Brazilian Tax Identification Number CNPJ
38.498.166/0001-52 (“Inmosites Brazil”). 
 Towers Brazil and Inmosites
Brazil (jointly, the “Brazilian Companies”) are the companies through which the Seller develops the Business in Brazil. 

In Chile: 
  

	 	(iv)	 Towers Latam is the direct owner of 99.998% of the share capital of Telxius Torres Chile Holding S.A., a Chilean
limited liability company incorporated under the laws of Chile, with corporate domicile at Avenida Providencia N°111, Piso 27, Santiago de Chile, registered with the Commercial Registry of Santiago de Chile under number 28187, Sheet 15701, Year
2016, and with Chilean Tax Identification Number RUT 76,562,699-4 (“Towers Chile Holding”). The remaining 0.001% of the share capital of Towers Chile Holding is owned by Towers Spain (as
defined below). 

 Towers Chile Holding is in turn the direct owner of 99.999% of the share capital of Telxius
Torres Chile S.A., a Chilean limited liability company incorporated under the laws of Chile, with corporate domicile at Avenida Providencia N°111, Piso 27, Santiago de Chile., registered with the Commercial Registry of Santiago de Chile under
number 25435, Sheet 14176, Year 2016, and with Chilean Tax Identification Number RUT 76,558,575-9 (“Towers Chile”). The remaining 0.002% of the share capital of Towers Chile Holding is owned
by Towers Spain. 
 Towers Chile Holding and Towers Chile (jointly, the “Chilean Companies”) are the companies
through which the Seller develops the Business in Chile. As part of the purchase by the Buyer of the Business of the Seller in Chile, the transfer of Towers Latam by the Seller to the Buyer shall also entail the assignment and transfer to the Buyer,
who shall acquire, assume and accept the Chilean Facilities (as defined below). 

  
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 In Peru: 
  

	 	(v)	 Towers Latam is the direct owner of 99.999% of the share capital of Telxius Torres Perú S.A.C., a Peruvian
limited liability company incorporated under the laws of Peru, with corporate domicile at Dean Valdivia No 148, San Isidro, Lima (Perú), registered with the Commercial Registry of Lima under number 13593501, and with Peruvian Tax
Identification Number RUC 20601099471 (“Towers Peru”). The remaining 0.001% of the share capital of Towers Peru is owned by Towers Spain. 

Towers Peru (the “Peruvian Company”) is the company through which the Seller develops the Business in Peru. 

The Argentinian Company, the Brazilian Companies, the Chilean Companies and the Peruvian Company shall be jointly referred as the
“Latam Companies” and each a “Latam Company”. Towers Latam together with the Latam Companies shall be referred to as the “Towers Latam Group”. 

The Seller, directly or indirectly, as set forth above, is the owner of the shares of Towers Latam, the Argentinian Company, the
Brazilian Companies, the Chilean Companies and the Peruvian Company as detailed in Schedule 1 and pursuant to the titles of ownership indicated therein (the “Titles of Ownership”). 

 

	III.	 Prior to the execution of this Agreement, the Buyer, together with its professional advisors, has carried out a legal,
tax, financial, accounting and business due diligence review of the Companies and the Business, which has included (a) a review of the information provided by the Seller (through the appropriate clean team arrangements, as required pursuant to
applicable anti-trust laws) in the virtual data room in Datasite named “Shamrock”, with unlimited access in terms of accessing hours and number of accesses between 16 November 2020 and 9 January 2021, both inclusive (the
“Data Room”), (b) access to the answers and information made available through successive rounds of limited Q&As arranged by or on behalf of the Seller, and (c) attendance at expert sessions and calls (the “Due
Diligence Process”). The content of the Data Room has been recorded on three identical pen drives (the “Data Room USBs”) prepared by Datasite, together with a certificate issued by Datasite UK Ltd. attesting the content
available in the Data Room as at 13:37 CET of 9 January 2021. On or around the date hereof, one copy has been or will be delivered to the Seller, one to the Buyer and the third copy of the pen drive will be kept in escrow by the Seller’s
counsel for its delivery to the Notary. A copy of the Data Room USBs will be deposited by the Parties with the Notary on the Closing Date. 

  

	IV.	 The Buyer has considered the information provided to it and its advisors throughout the Due Diligence Process to make
its final decision to proceed with the signing of this Agreement. 

  

	V.	 The Buyer is an entity belonging to a business group operating in the same sector of activity as the Business and that
has the necessary experience and expertise to analyse the transaction contemplated in this Agreement, meaning that it has 

  
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therefore duly established its interest in purchasing the Companies, as a means to acquire the Business, in an informed manner. 

 

	VI.	 The Seller wishes to sell and transfer to the Buyer and the Buyer wishes to purchase, pay for and acquire from the
Seller, the Shares as a means to acquire the Companies and the Business, under the terms and conditions agreed hereunder (the “Transaction”). 

 

	VII.	 The Guarantor has agreed to guarantee all the obligations of the Buyer contained in this Agreement, if the Buyer
assigns all or part of its rights and obligations under this Agreement to one or more of its Affiliates. The Guarantor shall be considered a Party for the purposes of Clauses 11 to 15 of this Agreement. 

Now, therefore, the Parties and the Guarantor agree on the terms of this Agreement as set forth under the following 

CLAUSES 
  

	1.	 DEFINITIONS AND INTERPRETATION 

 

	1.1	 Definitions 

In this Agreement, the following terms have the meaning specified in this Clause 1.1: 

 

			
	Adjusted Net Debt	  	 Means the amount of the actual adjusted net debt position (in Euros) of the Towers Latam Group, at a certain date, as defined and
calculated as set forth in Schedule 2. This amount can be a positive or a negative number.

		
	Affiliate	  	 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 first person.

		
	Agreement	  	 Means this Agreement for the Sale and Purchase of the Towers Latam Division of Telxius Telecom,
S.A.

  
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	AML and Anti-Bribery Laws	  	 Means to the extent applicable to the relevant person, any anti-money laundering, anti-corruption, and similar laws, regulations and
orders to which such person is subject, including but not limited to the U.S. Foreign Corrupt Practices Act of 1977, as amended, the United Kingdom Bribery Act 2010, the anti-bribery legislation of the European Union, as adopted and made applicable
by its individual member States, the Spanish law 10/2010, of 28 April, on anti-money laundering and prevention of terrorism, the Argentinian Law no 27401 on corporate criminal liability and Law no 25246 on anti-money laundering, the
Chilean Law n° 20,393 (Establece la Responsabilidad Penal de las Personas Jurídicas en los Delitos que Indica), the “Anti-Corruption Law of Brazil (Law No. 12,846/2013), the Brazilian Anti-Corruption Regulatory Decree
(Federal Decree No. 8,420/2015), the Brazilian Conflict of Interest Law (Federal Law No. 12,813/2013), the Brazilian Law of Administrative Improbity (Federal Law No. 8,429/1992), the Brazilian Public Procurement Law (Federal Law
No. 8,666/93)” and any applicable legislation enacted by member states and signatories implementing the Organization for Economic Co-operation and Development’s Convention Combating Bribery of
Foreign Officials, or applicable in Argentina, Brazil, Chile or Peru.

		
	Anti-Embarrassment Period	  	 Has the meaning ascribed thereto in Clause 3.4.1.

		
	Anti-Embarrassment Price	  	 Has the meaning ascribed thereto in Clause 3.4.1.

		
	Antitrust Authority	  	 Means the Brazilian Conselho Administrativo de Defesa Econômica (CADE).

		
	Antitrust Clearance	  	 Means the conditional or unconditional clearance of the Transaction by the Antitrust Authority.

		
	Antitrust Condition Precedent	  	 Has the meaning ascribed thereto in Clause 4.1.1(i).

  
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	Argentinian Company	  	 Means Telxius Torres Argentina S.A., as it is stated in Recital II.

		
	Auditor	  	 Means the international audit firm PricewaterhouseCoopers (“PwC”).

		
	Base Price	  	 Has the meaning ascribed thereto in Clause 3.2.1.

		
	Brazilian Companies	  	 Means Telxius Torres Brasil Ltda. and Inmosites Brasil Participaçoes Imobiliarias Ltda., as it is stated in Recital
II.

		
	Break-up Fee	  	 Has the meaning ascribed thereto in Clause 9.1.2.

		
	BTS Agreements	  	 Has the meaning ascribed thereto in the Side Letter.

		
	Business	  	 Has the meaning ascribed thereto in Recital I.

		
	Business Day	  	 Means any day except Saturdays, Sundays and public holidays in the city of Madrid (Spain) or Boston (United States).

		
	Buyer	  	 Means American Tower International, Inc., as it is stated in the appearances of this Agreement.

		
	Buyer Guaranteed Obligations	  	 Has the meaning ascribed thereto in Clause 11.1.

		
	Buyer’s Group	  	 Means the group of companies of which American Tower Corporation is the parent company.

		
	Buyer’s Statement	  	 Has the meaning ascribed thereto in Clause 3.3.1.

		
	Chilean Companies	  	 Means Telxius Torres Chile Holding S.A. and Torres Chile Holding and Telxius Torres Chile S.A. as it is stated in Recital
II.

  
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	Chilean Facilities	  	 Means the three loans granted by the Seller to Towers Chile Holding (i) in the principal amount of €1,500,000 by means of a mercantile loan agreement dated 30 July 2018, (ii) in the principal amount of €18,352,000 by means of mercantile loan
agreement dated 25 October 2019, and (iii) in the principal amount of €6,200,000 by means of mercantile loan agreement dated 30 November 2020.

		
	Claim Notification	  	 Has the meaning ascribed thereto in Clause 8.14.1.

		
	Closing	  	 Means the effective transfer of the full ownership of 100% of the Shares of Towers Latam from the Seller to the Buyer, the payment of
the Closing Price by the Buyer to the Seller and the performance of the other Closing Actions.

		
	Closing Accounts	  	 Means the consolidated balance sheet and the consolidated profit and loss account of the Towers Latam Group as of the Reference
Date.
 The Closing Accounts shall be prepared in Euros, in accordance with IFRS as consistently applied by the Telxius Group and following the
specific procedures normally followed for the preparation of the full year annual accounts.

		
	Closing Actions	  	 Means the actions and transactions to be effected to complete the Closing pursuant to Clause 6.2.

		
	Closing Date	  	 Means the date on which the Parties must complete the Closing Actions pursuant to Clause 6.1.

		
	Closing Price	  	 Has the meaning ascribed thereto in Clause 3.2.3.

  
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	Closing Terminated Agreements	  	 Means the following agreements:
  

(i)  the cash pooling framework agreement relating to the establishment by the Seller and Telfisa
Global, B.V. of a treasury optimization system by way of a cash management system, in order to facilitate payments among the Seller, Telfisa Global, B.V. and, among others, the Companies (except Towers Brazil), dated 5 October 2017;

 
 (ii)   the
master framework agreement entered into between Telefónica, S.A. and Telxius Torres Latam, S.L.U. on 16 April 2018, pursuant to which certain derivative transactions can be entered into;

 

(iii)  Contrato de Compartilhamento de Custos e Despesas Administrativas entered into between
Telefónica Brasil SA and Towers Brazil on 15 March 2017 for the joint use of Telefónica Brazil’s tax Support, Contrato de Compartilhamento de Custos e Despesas Administrativas entered into between Telefónica
Brasil SA and Towers Brazil on 26 April 2018 for the joint use of Telefónica’s procurement area and Contrato de Compartilhamento de Custos e Despesas Administrativas entered into between Telefónica Brasil SA and Towers
Brazil on 28 September 2018 for the joint use of Telefónica Brazil’s financial support; and
  

(iv)  any other agreements entered into by the Companies that the Parties may discuss and agree in
good faith during the Interim Period.

		
	Co-location Agreements	  	 Means any co-location agreements for the utilisation of passive telecommunication
infrastructures entered into between the Companies and third party operators that are in force as of the date hereof.

		
	Commitment	  	 Has the meaning ascribed thereto in Clause 4.1.3(x).

  
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	Companies	  	 Means the companies that form the Telxius Towers Latam Division and develop the Business as listed in Recital II (i.e., Telxius
Torres Latam, S.L.U., Telxius Torres Argentina S.A., Telxius Torres Brasil Ltda., Inmosites Brasil Partic. Imob. Ltda., Telxius Torres Chile Holding S.A., Telxius Torres Chile S.A. and Telxius Torres Perú S.A.C.), each a
“Company”.

		
	Conditions Precedent	  	 Means the conditions precedent which must be satisfied pursuant to Clause 4 for the performance of the Closing.

		
	Confidential Information	  	 Has the meaning ascribed thereto in Clause 9.3(iii).

		
	Damage	  	 Means any direct, effective and economically quantifiable damage or loss (daño emergente), but excluding, for the
avoidance of doubt, loss of profits (lucro cesante) and indirect unforeseeable, consequential, reputational or punitive damages or losses.

		
	Data Room	  	 Has the meaning ascribed thereto in Recital III.

		
	Data Room USBs	  	 Has the meaning ascribed thereto in Recital III.

		
	Disposal Event	  	 Has the meaning ascribed thereto in Clause 3.4.2.

		
	Due Diligence Process	  	 Has the meaning ascribed thereto in Recital III.

		
	Encumbrances	  	 Means any charge, lien, claim, encumbrance, security interest, option, right of first offer or retrospective right of acquisition,
retention of title, third-party right, including pre-emptive rights of acquisition or transfer, or restrictions on share transferability.

		
	Estimated Adjusted Net Debt	  	 Means the Seller’s bona fide estimation of the Adjusted Net Debt of the Towers Latam Group as of the Reference Date, to
be provided by the Seller to the Buyer in accordance with Clause 3.2.2. This amount can be a positive or a negative number.

  
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	Expert	  	 Means the international audit firm KPMG or such other reputable auditing firm agreed upon between the Buyer and the Seller acting in
good faith, or in case KPMG is unable or unwilling to act for the purposes of this Agreement and failing an agreement between the Buyer and the Seller, a reputable auditing firm selected by the chairman of the Instituto de Contabilidad y
Auditoría de Cuentas at the request of either Party, that is willing to be engaged for the purposes of Clause 3.3.1.

		
	Export Control Laws	  	 Means those laws and regulations that impose restrictions on the export or re-export and use
of sensitive or dual-use goods or technology enforced and administered from time to time by the European Commission and Spain and any other jurisdictions in which the Companies operate or procure goods or
technology.

		
	Extended Long Stop Date	  	 Has the meaning ascribed thereto in Clause 4.1.6.

		
	Guarantor	  	 Means American Tower International, Inc., if the Buyer assigns all or part of its rights and obligations under this Agreement to one
or more of its Affiliates, as it is stated in the appearances of this Agreement.

		
	IFRS	  	 Means the International Financial Reporting Standards, as adopted by the European Union.

		
	Incremental Value	  	 Has the meaning ascribed thereto in Clause 3.4.2.

		
	Individual Deductible	  	 Means an amount of €75,000.

		
	Inmosites Brazil	  	 Means Inmosites Brasil Participaçoes Imobiliarias Ltda., as it is stated in Recital II.

		
	Interim Period	  	 Has the meaning ascribed thereto in Clause 5.1.1.

		
	Latam Companies	  	 Means, together, the Argentinian Company, the Brazilian Companies, the Chilean Companies and the Peruvian Company, and each a
“Latam Company”.

  
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	Long Stop Date	  	 Means eight months from the date hereof or such other date as may be agreed in writing between the Seller and the
Buyer.

		
	Management Accounts	  	 Means the summary balance sheet and profit and loss statements provided in the Data Room under reference numbers 2.3.1, 2.3.2, 2.3.3
and 2.3.4.

		
	Material Contract	  	 Means any contract which involves aggregate revenues of more than €2,000,000 or
expenditure of more than €2,000,000 by any of the Companies per annum, or has a minimum term or duration of five years or more and cannot be early terminated without paying a material termination
fee or which materially restricts the Companies’ freedom to carry on the Business as they see fit. For clarification purposes, this definition includes (even if the thresholds above are not met), the following agreements: the MLAs, the BTS
Agreements and the Co-location Agreements.

		
	Minority Argentinian Stake	  	 Means the shares representing 5% of the share capital of Towers Argentina referred to in Recital II and including all corporate and
financial rights (derechos económicos y politicos) pertaining thereto, including, without this entailing any restriction whatsoever, the right to dividends in shares, in kind or in cash voted and not distributed as of the Closing Date,
as well as all the rights and actions arising from capital contributions, capitalizations of reserves, revaluations, capital adjustments and contributions of all kind that might remain pending as of the Closing Date.

		
	Misrepresentation	  	 Has the meaning ascribed thereto in Clause 8.2.

		
	MLAs	  	 Has the meaning ascribed thereto in the Side Letter.

  
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	Notary	  	 Means the notary public of the city of Madrid to be agreed in good faith between the Parties or such other notary public of the city
of Madrid as may be designated by the Buyer, after good faith consultation with the Seller, for the Closing.

		
	Overall Deductible	  	 Means an amount of €4,000,000.

		
	Participation	  	 Has the meaning ascribed thereto in Clause 3.4.2.

		
	Parties	  	 Means, jointly, the Seller and the Buyer, and each of them, a “Party”. The Guarantor shall be considered a
“Party” for the purposes of Clauses 11 to 15.

		
	Peruvian Company	  	 Means Telxius Torres Perú S.A.C. as it is stated in Recital II.

		
	Price	  	 Has the meaning ascribed thereto in Clause 3.1.

		
	Price Adjustment	  	 Means an amount equal to the Estimated Adjusted Net Debt minus the Reference Adjusted Net Debt (this amount can be a positive or a
negative number).

		
	Prohibited Payment	  	 Means any bribe, grease payment, influence payment, kickback, facilitation payment or similarly corrupt payment.

		
	Reference Adjusted Net Debt	  	 Means the actual Adjusted Net Debt of the Towers Latam Group as of the Reference Date.

		
	Reference Date	  	 Means the last day of the month in which the Closing takes place.

		
	Relevant Contracts	  	 Has the meaning ascribed thereto in Clause 8.1(xvi).

		
	Relevant Shareholder	  	 Has the meaning ascribed thereto in Clause 3.4.2.

  
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	Reorganisation	  	 Means any and all necessary reorganisation steps and corporate actions which result in Towers Latam becoming the direct or indirect
owner of 100% of the shares of the Latam Companies (excluding the Minority Argentinian Stake).

		
	Reorganisation Condition Precedent	  	 Has the meaning ascribed thereto in Clause 4.1.1(ii).

		
	Restricted Party	  	 Means any person that is (i) the subject of restrictive Sanctions (including but not limited to being named on the list of
Specially Designated Nationals maintained by the Office of Foreign Assets and Control of the United States Department of the Treasury or any other similar list of persons targeted with Sanctions maintained by a regulatory authority having
responsibility for administering Sanctions), (ii) located in or organized under the laws of any country or territory that is the subject of comprehensive country – or territory-wide Sanctions (being, as at the date of this Agreement, Cuba,
Iran, North Korea, Syria and the Crimea region), or (iii) “owned” or “controlled” (as such terms are understood in the context of the Sanctions and associated regulatory guidance) by any of the foregoing.

		
	Reviewed Closing Accounts	  	 Has the meaning ascribed thereto in Clause 3.3.1(i).

		
	Ruling	  	 Means a final court decision (sentencia firme), final and non-appealable arbitral
award or definitive settlement.

		
	Sanctions	  	 Means trade, economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (i) the
U.S. government (including the Office of Foreign Assets Control of the United States Department of the Treasury), (ii) the United Nations Security Council, (iii) the European Union, (iv) the United Kingdom (including Her Majesty’s
Treasury), (v) Switzerland (including the Swiss State Secretariat for Economic Affairs); and, if applicable, (vi) Spain; (vii) Argentina; (viii) Brazil; (ix) Chile; and
(x) Peru.

  
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	Seller	  	 Means Telxius Telecom, S.A., as it is stated in the appearances of this Agreement.

		
	 Seller Service
 Agreement Side Letter
	  	 Means the document attached hereto in Schedule 7.

		
	Seller’s Objection Notice	  	 Has the meaning ascribed thereto in Clause 3.3.1(iv).

		
	Senior Officer	  	 Means any officer or employee of any of the Companies with a base annual salary in excess of
€120,000.

		
	Shareholder	  	 Has the meaning ascribed thereto in Clause 3.4.2.

		
	Shares	  	 Means the shares representing 100% of the share capital of Towers Latam.

		
	Side Letter	  	 Means the side letter regarding the maintenance of certain key relationships with Telefónica Group entered into between the
Seller, Telefónica, S.A. and the Buyer on the date hereof.

		
	Specific Warranties	  	 Means the representations and warranties granted by the Seller to the Buyer in accordance to Clause 8.1.

		
	Taxation or Tax or Taxes	  	 Means all direct and indirect forms of taxation and statutory, governmental, supra-governmental, state, principal, local governmental
or municipal impositions, duties, stamp duties, contributions and levies (including deferred taxes), in each case wherever and whenever imposed, and all penalties, charges, costs and interest, surcharges or fines relating thereto and any deductions
or withholdings of any sort, whenever imposed and whether chargeable directly or primarily against or attributable directly or primarily to the Companies or any other person.

		
	Tax Authority	  	 Means any authority competent to impose, administer or collect any
Taxation.

  
 - 18 - 

			
	Telefónica Group	  	 Means the group of companies of which Telefónica, S.A. is the parent company (sociedad dominante) in the sense of
article 42.1 of the Spanish Commercial Code.

		
	 Telefónica Service
 Agreement Side
Letter
	  	 Means the document attached hereto in Schedule 7.

		
	Telxius Group	  	 Means the group of companies of which the Seller is the parent company (sociedad dominante) in the sense of article 42.1 of
the Spanish Commercial Code.

		
	 Telxius Towers Latam
 Division
	  	 Has the meaning ascribed thereto in Recital I.

		
	Telxius Tradenames	  	 Means any names, corporate names, trademarks, service names, taglines, slogans, industrial designs, brand names, brand marks,
internet domain names, identifying symbols, logos, emblems, signs or insignia, website search terms and keywords which contain the word “Telxius”, any combination of them or any words which are confusingly similar to such names or
trademarks, whether registered or unregistered (including all goodwill associated with the foregoing).

		
	Termination Notice	  	 Has the meaning ascribed thereto in Clause 9.2.

		
	Third Party Claim	  	 Has the meaning ascribed thereto in Clause 8.14.4.

		
	Titles of Ownership	  	 Has the meaning ascribed thereto in Recital II.

		
	Towers Argentina	  	 Means Telxius Torres Argentina S.A., as it is stated in Recital II.

		
	Towers Brazil	  	 Means Telxius Torres Brasil Ltda., as it is stated in Recital II.

		
	Towers Chile	  	 Means Telxius Torres Chile S.A., as it is stated in Recital II.

		
	Towers Chile Holding	  	 Means Telxius Torres Chile Holding S.A., as it is stated in Recital
II.

  
 - 19 - 

			
	Towers Latam	  	 Means Telxius Torres Latam, S.L.U., as it is stated in Recital II.

		
	Towers Latam Group	  	 Means the group of companies formed by Towers Latam (sociedad dominante) and the Latam Companies.

		
	Towers Peru	  	 Means Telxius Torres Perú S.A.C., as it is stated in Recital II.

		
	Towers Spain	  	 Means Telxius Torres España, S.L.U., as it is stated in Recital II.

		
	Transaction	  	 Has the meaning ascribed thereto in Recital VI.

		
	VAT	  	 Means the Value Added Tax (“Impuesto sobre el Valor Añadido”).

  

	1.2	 Interpretation 

  

	 	1.2.1	 General rules 

In this Agreement, unless indicated otherwise: 
  

	 	(i)	 Any reference to “this Agreement” must be deemed to be made to this Agreement and to its Schedules.

  

	 	(ii)	 Any reference to a “Clause” or to a “Schedule” must be deemed to be made to a Clause of, or
Schedule to, this Agreement. 

  

	 	(iii)	 Any reference to a “person” includes any individual, corporate or legal entity, organization, association
with or without legal personality, or public authority, agency or administration. 

  

	 	(iv)	 Any reference to “control”, including its various tenses and derivatives (such as “controlled” and
“controlling”), must be interpreted in the sense of Article 42 of the Spanish Commercial Code (Código de Comercio). 

  

	 	(v)	 Any reference to the term “law” includes any national, supra-national (including European), regional, local
or foreign constitution, treaty, law, statute, ordinance, rule, regulation, interpretation by an official authority, directive, policy, order, writ, decree, injunction, judgment, stay or restraining order, provisions and conditions of permits, aids,
grants, incentives, subsidies, licenses, registrations and other operating authorizations, any ruling or decision of, agreement with or by, or any other requirement of, any authority; or any amendments to or modifications of any of the foregoing.

  

	 	(vi)	 Any reference to “herein”, “hereto”, “hereof” or “hereunder” refers to this
Agreement. 

  
 - 20 - 

	 	(vii)	 Wherever the terms “includes”, “included”, “include” and “including” are used,
they shall be deemed to be followed by the expression “without limitation”. 

  

	 	(viii)	 Any reference to one gender includes the other, and words in the singular shall include the plural, and vice
versa. 

  

	 	(ix)	 Any reference to the “Seller’s knowledge” or any substantially equivalent expression shall be
understood as the actual and effective knowledge on the relevant subject matter by any of the following senior officers of the Seller after due enquiry: the chairman, the chief executive officer, the chief financial officer, the chief operations
officer or the general counsel. 

  

	 	(x)	 “Fairly disclosed” means disclosed in writing as part of the Due Diligence Process or in this Agreement or
its Schedules with a reasonable degree of detail described and scheduled in relevant context to enable a prudent professional purchaser operating in the same business sector and professionally advised to identify the nature and scope of the matter
being disclosed. 

  

	 	(xi)	 Any reference to “ordinary course of business” shall be interpreted as the normal conduct of the commercial
operations of the person concerned applied in a uniform and constant manner in accordance with past practice. 

  

	 	(xii)	 The obligation to use “best efforts”, “best endeavours” or another similar expression, refers to
the obligation to make (without such obligation being a firm obligation of result) all the reasonable efforts that an orderly businessman (ordenado empresario) acting in good faith and committing all reasonable resources and means available
would use in similar circumstances to achieve the desired outcome. 

  

	 	(xiii)	 For the purposes of this Agreement, any monetary amount expressed in Argentinian Peso (ARS), Brazilian Real (BRL),
Chilean Peso (CLP), Peruvian Sol (PEN) and US Dollars (USD) shall be converted into Euros (EUR) applying the following exchange rates calculated as indicated below: 

 

	 	(i)	 The exchange rate for the Argentinian Peso into Euro shall be the exchange rate resulting from: 

 

	 	a)	 The arithmetic average of the five exchange rates USD / ARS (“Tipo de Cambio Mayorista ($ por US$)
Comunicación A 3500”) (rounded upwards to four decimal places) published on the Central Bank of the Argentine Republic website corresponding to each of the five Business Days prior to the fifth Business Days prior to the Closing
Date; and 

  

	 	b)	 The arithmetic average of the five exchanges rate EUR / USD (rounded upwards to four decimal places) published on the
Bloomberg (BFIX) website, at approximately 14:00 (Madrid local time), corresponding to each of the five Business Days prior to the fifth Business Days prior to the Closing Date. 

  
 - 21 - 

	 	(ii)	 The exchange rate for the Brazilian real into Euro shall be the exchange rate resulting from: 

 

	 	a)	 The arithmetic average of the five exchange rates USD / BRL (PTAX - Venda) (rounded upwards to four decimal places)
published on the Central Bank of Brazil website corresponding to each of the five Business Days prior to the fifth Business Days prior to the Closing Date; and 

 

	 	b)	 The arithmetic average of the five exchanges rate EUR / USD (rounded upwards to four decimal places) published on the
Bloomberg (BFIX) website, at approximately 14:00 (Madrid local time), corresponding to each of the five Business Days prior to the fifth Business Days prior to the Closing Date. 

 

	 	(iii)	 The exchange rate for the Chilean peso into Euro shall be the exchange rate resulting from: 

 

	 	a)	 The arithmetic average of the five exchange rates USD / CLP (rounded upwards to four decimal places) published on the
Central Bank of Chile website corresponding to each of the five Business Days prior to the fifth Business Days prior to the to the Closing Date; and 

  

	 	b)	 The arithmetic average of the exchange rate EUR / USD (Dolar Observado) (rounded upwards to four decimal
places) published on the Bloomberg (BFIX) website, at approximately 14:00 (Madrid local time) corresponding to each of the five Business Days prior to the fifth Business Days prior to the Closing Date. 

 

	 	(iv)	 The exchange rate for the Peruvian sol into Euro shall be the exchange rate resulting from: 

 

	 	a)	 The arithmetic average of the five exchange rates USD / PEN (TC Interbancario (S/ por US$)) (rounded upwards to
four decimal places) published on the Central Reserve Bank of Peru website corresponding to each of the five Business Days prior to the fifth Business Days prior to the Closing Date; and 

 

	 	b)	 The arithmetic average of the exchange rate EUR / USD (rounded upwards to four decimal places) published on the
Bloomberg (BFIX) website, at approximately 14:00 (Madrid local time) corresponding to each of the five Business Days prior to the fifth Business Days prior to the Closing Date. 

 

	 	(v)	 The exchange rate for the US Dollar into Euro shall be the arithmetic average of the exchange rate EUR / USD
(rounded upwards to four decimal places) published on the Bloomberg (BFIX) website, at approximately 14:00 (Madrid local time) corresponding to each of the 

  
 - 22 - 

	 	 
five Business Days prior to the fifth Business Days prior to the Closing Date. 

  

	 	1.2.2	 Headings 

The headings used in the Agreement are included for reference only and shall not form part of the Agreement for any other purpose or
affect the interpretation of any of its clauses. 
  

	 	1.2.3	 Schedules and Annexes 

The Schedules and Annexes form part of this Agreement and shall have the same force and effect as if expressly ascribed to the body of
this Agreement, and any reference to this Agreement shall include such Schedules and Annexes. 
  

	 	1.2.4	 Terms 

  

	 	(i)	 Any reference to “days” shall be deemed to be made to “calendar days” and reference to times refer
to the time in Madrid, Spain (being, as of the date of this Agreement, Central European Time). 

  

	 	(ii)	 Any periods expressed in days shall start to be counted from the day immediately following the day on which the
counting starts. If the last day of a period is not a Business Day, the period in question shall be deemed to have been automatically extended until the first following Business Day. 

 

	 	(iii)	 Periods expressed in months shall be counted from date to date unless in the last month of the period such date does
not exist, in which case the period shall end on the last day of such month (without prejudice to the previous paragraph). 

  

	 	(iv)	 Any reference to “from”, “as from” or “through” a given date shall be understood to
include such date. 

  

	 	1.2.5	 Language 

This Agreement has been drafted, negotiated and executed in the English language, provided, however, that Spanish or Portuguese terms
used in this Agreement or English terms to which a Spanish or Portuguese translation has been included in a parenthesis or otherwise shall be interpreted throughout this Agreement with the meaning assigned to them in the Spanish and Portuguese
languages, as applicable. 
  

	2.	 PURPOSE OF THE AGREEMENT 

 

	2.1	 Sale and purchase of the Telxius Towers Latam Division 

 

	 	(i)	 On the terms and subject to the conditions set forth in this Agreement (including, in particular, the satisfaction or
waiver of the Conditions 

  
 - 23 - 

	 	 
Precedent, as applicable, on the terms set forth herein), the Seller hereby sells and, at the Closing, shall transfer to the Buyer, and the Buyer hereby purchases and, at the Closing, shall
acquire from the Seller, in consideration for the Price, the Shares of Towers Latam, as the means for the transfer by the Seller, and acquisition by the Buyer, of the Business. 

For this purpose, as part of the Transaction and also on the terms and subject to the conditions set forth in this Agreement on the
Closing, the Seller shall assign and transfer to the Buyer, who shall acquire, assume and accept, the Chilean Facilities. 
  

	 	(ii)	 The Shares, and the shares of the Argentinian Company, the Brazilian Companies, the Chilean Companies and the Peruvian
Company, are sold and shall be transferred (indirectly for the Argentinian Company, the Brazilian Companies, the Chilean Companies and the Peruvian Company) at the Closing, and are purchased and shall be acquired at the Closing, free and clear from
any Encumbrances, fully subscribed and paid in, non-assessable and fully enjoying the rights inherent to them by reason of the applicable law and the bylaws of the Companies, as applicable.

  

	 	(iii)	 It is acknowledged and agreed that the obligation of the Parties to complete the Transaction at the Closing pursuant
to the terms and conditions hereof shall in no event be affected by any change of circumstances that may take place in the economic and/or financial markets, by the evolution of the Business after the date of this Agreement or by any other fact or
circumstance (other than the termination of this Agreement in accordance with its terms), even if any such change of circumstances was unforeseeable or unavoidable. 

 

	2.2	 Agreement perfection 

This Agreement, pursuant to article 1,450 of the Spanish Civil Code (Código Civil), is effective (perfeccionado) by
means of its execution by the Parties on the date hereof, being therefore binding and enforceable upon them from the date hereof. Without prejudice to the binding nature of this Agreement, the completion of the Transaction and the obligations to
transfer and acquire the Shares of Towers Latam (and other related obligations to acquire the Minority Argentinian Stake and/or the Chilean Facilities) and pay the Price corresponding to such Shares (and any other consideration dealt with herein)
shall be subject to the satisfaction or waiver, as applicable, of the Conditions Precedent. 
 Upon the satisfaction or waiver, as
applicable, of the Conditions Precedent and the occurrence of the Closing, in each case on the terms set forth herein, the effectiveness of the transfer of the Shares (and the other related transfers referred to above) shall be as of the Closing
Date. 

  
 - 24 - 

	3.	 CONSIDERATION 

  

	3.1	 Determination of the Price 

The consideration for 100% of the Shares (the “Price”) shall be: 

 

	 	a)	 an amount in cash (in Euros) equal to the Base Price; 

 

	 	b)	 minus the Adjusted Net Debt of the Towers Latam Group as of the Reference Date, if a positive number, or,
alternatively, if a negative number, plus the absolute value of such number. 

 The Buyer confirms, represents and
warrants to the Seller that it has available (pursuant to any available cash resources or financing agreements, loan facilities or other financing arrangements) sufficient cash resources to fulfil in full its obligations under this Agreement and, in
particular, to pay the Price. 
 A confirmation letter issued by Bank of America, N.A. and BofA Securities Inc. on 13 January
2021 is attached to this Agreement as Schedule 3 as evidence of the sufficiency of available cash resources of the Buyer to pay the Price in full. 
  

	3.2	 Base Price and Closing Price 

3.2.1    Base Price. The Base Price for 100% of the Shares is an amount in cash
of € 887,039,800 (the “Base Price”). 

3.2.2    Estimated Adjusted Net Debt. Not later than five Business Days prior to the
Closing Date, the Seller shall notify the Buyer of the Estimated Adjusted Net Debt, together with such details as are reasonably necessary to support the calculations made by the Seller. 

The Seller undertakes to provide the Estimated Adjusted Net Debt of any of the Companies in a timely manner as set forth above. The
Buyer shall not be entitled to challenge the Estimated Adjusted Net Debt prior to the Closing Date except in the event of manifest error. To assist the Buyer with its review, the Seller shall provide any reasonable assistance and documentation
required by the Buyer to review the Seller’s calculation of the Estimated Adjusted Net Debt in a timely manner. 

3.2.3    Payment of the Closing Price. On the Closing, the Buyer shall pay to the
Seller an amount in cash (in Euros) for 100% of the Shares equal to (A) the Base Price; (B) minus the Estimated Adjusted Net Debt, if a positive number, or, alternatively, if a negative number, plus the absolute value of such number; (the
“Closing Price”). 
 Payment of the Closing Price shall be paid by the Buyer to the Seller on the Closing Date, in
cash. The Closing Price shall be paid in full, without any deduction, withholding, set-off, retention or counterclaim. 

  
 - 25 - 

	3.3	 Price Adjustment 

3.3.1    Calculation of the Reference Adjusted Net Debt and the Price Adjustment.
Following the Closing, the Reference Adjusted Net Debt and the Price Adjustment shall be calculated as follows: 
  

	 	(i)	 Within three months following the Closing, the Buyer shall (a) cause Towers Latam to prepare its Closing
Accounts; (b) prepare a statement with the Buyer’s calculation, based on the Closing Accounts, of the Reference Adjusted Net Debt and, therefore, of the Price Adjustment, all pursuant to the terms and conditions of this Agreement (the
“Buyer’s Statement”); and (c) submit the Closing Accounts and the Buyer’s Statement to the review of the Auditor (such review to be performed within the scope of work set forth in Schedule 4). The
Auditor shall review the Closing Accounts and the Buyer’s Statement and provide the Buyer its procedures report as soon as possible, and in any event within one month after having received the documentation from the Buyer. Within five Business
Days thereafter, the Buyer shall deliver to the Seller the Closing Accounts, the Buyer’s Statement and the agreed-upon procedures report of the Auditor. The Closing Accounts together with such Auditor’s report shall be referred hereinafter
as the “Reviewed Closing Accounts”. The Buyer undertakes, to the extent possible, to make its best efforts to cause the Auditor to deliver the Reviewed Closing Accounts within such one month period, however, the Buyer shall not be
held responsible for any delay in delivering such Reviewed Closing Accounts to the Seller for a delay attributable to the Auditor (in which case, the deadline to deliver the Reviewed Closing Accounts shall be extended, as appropriate).

  

	 	(ii)	 The Seller shall have a period of forty-five calendar days following receipt of such Reviewed Closing Accounts and the
Buyer’s Statement to review the materials received and notify the Buyer any discrepancy therein. The Buyer shall provide any reasonable assistance and documentation required by the Seller for the performance of such review in a timely manner
and, in particular, shall cause the Companies to provide access to the Seller (on a reasonable and confidential basis, during normal business hours) to the Companies’ accounting or other documents, records and other materials and information,
and make available, to a reasonable extent, employees and auditors of the Companies, and any other assistance, document or information that the Seller may reasonably request. 

 

	 	(iii)	 If the Seller does not object to the Price Adjustment resulting from such Buyer’s Statement within the period set
forth in the previous paragraph, such Price Adjustment so notified by the Buyer will be deemed to be agreed between the Parties. 

  

	 	(iv)	 On the contrary, if the Seller objects to the Price Adjustment resulting from such Buyer’s Statement, it shall
notify the Buyer of its disagreement within the forty-five-day period set forth above, indicating the basis of such disagreement and the reasons therefore, indicating its calculation of the Reference Adjusted
Net Debt and the resulting Price Adjustment, and providing all back-up calculations and documentation reasonably necessary 

  
 - 26 - 

	 	 
to support the Seller’s calculations (the “Seller’s Objection Notice”). In this event, the Buyer and the Seller shall aim to agree on the determination of the Price
Adjustment during the ten Business Days following the receipt by the Buyer of the Seller’s Objection Notice. If the Buyer and the Seller are unable to reach an agreement within the time period indicated in the preceding sentence, any or both
Parties may submit the discrepancy to the Expert pursuant to the form of engagement letter, to be agreed in good faith between the Parties and the Expert during the Interim Period. 

 

	 	(v)	 The Expert, when appointed, shall render and notify simultaneously to the Seller and the Buyer its final decision on
the discrepancies submitted to its review (for the avoidance of doubt, the Expert shall only review and decide on the discrepancies between the Buyer’s Statement and the Seller’s Objection Notice, but not on any other item) and its
calculation of the Reference Adjusted Net Debt and the resulting Price Adjustment (that shall be within the range of the amounts included in the Buyer’s Statement and in the Seller’s Objection Notice). The Expert’s decision, together
with a statement of reasons therefore, shall be provided to the Parties within one month from the date of acceptance of its appointment. For these purposes, the Expert shall act as an expert and not as an arbitrator. 

 

	 	(vi)	 In the absence of manifest error (in which case the relevant part of the Expert’s determination shall be void and
the matter shall be remitted back to it for correction), the Price Adjustment determined by the Expert, within the range of the amounts included in the Buyer’s Statement and in the Seller’s Objection Notice, shall be final and binding on
the Parties. 

  

	 	(vii)	 The Buyer and the Seller undertake to cooperate, and the Buyer undertakes to cause the Companies to cooperate, with
the Expert, to the fullest extent possible. In particular: 

  

	 	a)	 the Parties shall promptly deliver to the Expert the relevant provisions of this Agreement and the calculations made
by the Buyer (and reviewed by the Auditor) and by the Seller, as well as any other information available to the relevant Party that the Expert may reasonably consider necessary to perform its mandate; and 

 

	 	b)	 the Buyer shall promptly make available, and cause the Companies to provide access (on a reasonable and confidential
basis, during normal business hours) to the Companies’ accounting or other documents, records and other materials and information, and make available employees, auditors and advisors of the Companies, and any other assistance, document or
information that the Expert may request, in each case to the extent necessary for the Expert to perform its mandate. 

  

	 	(viii)	 The fees of the Expert shall be borne by the Buyer and the Seller in inverse proportion to the extent to which the
Expert decides in favour of each Party. By way of example, if the Buyer’s Statement includes a Price Adjustment of 100 and the Seller’s Objection Notice of 200 and the Expert decides that the

  
 - 27 - 

	 	 
correct Price Adjustment is 175, the Buyer shall bear 75% of the Expert’s fees and the Seller the remaining 25%. 

3.3.2    Payment of the Price Adjustment. The Price Adjustment shall be paid in cash, in
Euros, without any deduction, set-off, withholding or counterclaim, within twenty Business Days following the date on which the Price Adjustment has been finally determined pursuant to Clause 3.3.1 above: 

 

	 	(i)	 If the Price Adjustment is positive, the Buyer shall pay the Price Adjustment to the Seller; and

  

	 	(ii)	 If the Price Adjustment is negative, the Seller shall pay the absolute value of the Price Adjustment to the
Buyer. 

  

	3.4	 Anti-Embarrassment Price 

3.4.1    Anti-Embarrassment Price. If at any time during the two-year period following the Closing Date (the “Anti-Embarrassment Period”), one or more Disposal Events occurs, the Buyer shall pay to the Seller, and the Seller shall be entitled to receive from
the Buyer, as additional consideration in respect of the sale and purchase of 100% of the Shares of Towers Latam, an amount for each such Disposal Event (the “Anti-Embarrassment Price”) equal to (i) the Incremental Value
generated in such Disposal Event divided by (ii) one minus the aggregated Participation of the Relevant Shareholders participating in such Disposal Event. 

3.4.2    Additional definitions. The following additional
definitions shall apply for the purpose of this Clause 3.4: 
  

	 	•	 	 “Disposal Event” means a direct or indirect sale, transfer, contribution, combination (including by way
of a merger), assignment, repurchase or disposal (whether in a single transaction or a series of transactions and regardless of the structure or form of the transaction or transactions) by the Buyer or an entity within the Buyer’s Group to or
with a Shareholder of (i) any direct or indirect interest (including minority interests) in any of the Companies or any successor thereof (including any options, warrants, convertible securities, derivative securities or other rights of any
kind to acquire any shares in any such Companies) or (ii) all or part of the portfolio of cellular wireless telecommunication towers of the Companies; or the entering into a legally binding agreement to do any of such acts or things (provided
the relevant transaction is always signed within the Anti-Embarrassment Period but completed, even after the end of the Anti-Embarrassment Period). For the avoidance of doubt, a Disposal Event (i) shall include, without limitation, the direct
or indirect investment by a Shareholder in any of the Companies or their portfolio of cellular wireless telecommunication towers through the subscription of shares or other kind of equity or equity-linked securities or instruments; but
(ii) shall exclude any transaction required and/or accepted to comply with any Commitments in relation to the Antitrust Condition Precedent (to the extent no alternative transaction that otherwise would not be a Disposal Event is available).

  
 - 28 - 

	 	•	 	 “Incremental Value” means the positive difference, if any, between (i) the value assigned in this
Transaction to the sites the subject matter (directly or indirectly) of the Disposal Event (on the basis of the assigned value per site resulting from this Transaction as detailed in Schedule 8); and (ii) the value attributable to such
disposed sites (directly or indirectly) in the Disposal Event. 

  

	 	•	 	 “Relevant Shareholder” means any of the following direct or indirect shareholders of the Seller
as of the date hereof with the “Participation” indicated below: 

  

			
	 Relevant Shareholder
	  	Participation
		
	 Pontegadea 2015, S.L.
	  	9.99%
		
	 Taurus Bidco S.à r.l.
	  	40.00%
		
	 Telefónica, S.A.
	  	50.01%

  

	 	•	 	 “Shareholder” means any of the Relevant Shareholders and their respective Affiliates. As regards Taurus
Bidco S.à r.l., the term “Affiliate” shall additionally include (i) Kohlberg Kravis Roberts & Co. L.P. (the “Manager”); (ii) any fund or person managed by the Manager or a Manager’s Affiliate;
(iii) any general partner of the funds or persons referred to in the foregoing sections (i) and (ii); and (iv) any Affiliate of any of the funds or persons referred to in the foregoing sections (i), (ii) and (iii).

 3.4.3    Determination and payment of the Anti-Embarrassment
Price. 
  

	 	(i)	 The Buyer shall promptly notify the Seller in writing of any Disposal Event that occurs within the Anti-Embarrassment
Period and state in such notice reasonable details of the Disposal Event and of the preliminary Buyer’s calculation of the Anti-Embarrassment Price to be generated in such Disposal Event, if any. 

 

	 	(ii)	 Following the closing of the relevant Disposal Event occurred within the Anti-Embarrassment Period, the Buyer shall
promptly notify the Seller in writing of such closing (with all reasonable details) and state in such notice in full detail the definitive Buyer’s calculation of the Anti-Embarrassment Price generated in such Disposal Event, if any, including a
copy of the supporting documentation. The Buyer shall send such notice and the relevant documentation within twenty Business Days following such closing date. 

 

	 	(iii)	 The Seller shall have a period of forty-five days following receipt of such notification to review the materials
received and notify the Buyer any discrepancy thereof. The Buyer shall provide (or cause any of its Affiliates to provide) any reasonable assistance and documentation required by the Seller for the performance of such review in a timely manner and,
in particular, shall provide access to the Seller (on reasonable and confidential basis, during normal business hours) to the documents, records and other 

  
 - 29 - 

	 	 
materials and information, and make available, to a reasonable extent, employees and auditors of the Buyer and its Affiliates, and any other assistance, document or information that the Seller
may reasonably request. 

  

	 	(iv)	 If the Seller does not object to the Anti-Embarrassment Price notified by the Buyer within the period set forth in the
previous paragraph, such Anti-Embarrassment Price so notified by the Buyer will be deemed to be agreed between the Parties. 

  

	 	(v)	 On the contrary, if the Seller objects to the Anti-Embarrassment Price notified by the Buyer, it shall notify the
Buyer of its disagreement within the forty-five-day period set forth above, indicating the basis of such disagreement and the reasons therefore, indicating its calculation of the Anti-Embarrassment Price and
providing all back-up calculations and documentation reasonably necessary to support the Seller’s calculations. In this event, the Buyer and the Seller shall aim to agree on the determination of the
corresponding Anti-Embarrassment Price during ten Business Days following the receipt by the Buyer of the Seller objection notice. If the Buyer and the Seller are unable to reach an agreement within the time period indicated in the preceding
sentence, any or both Parties may submit the discrepancy to the Expert, the procedure and rules set forth in Clauses 3.3.1(iv) to 3.3.1(viii) being applicable mutatis mutandis. 

 

	 	(vi)	 The Buyer shall pay the Anti-Embarrassment Price to the Seller in cash, in Euros, without any deduction, set-off, withholding or counterclaim, within twenty Business Days following the date on which such Anti-Embarrassment Price has been finally determined pursuant to the previous paragraphs. 

 

	 	(vii)	 If following the closing of the Disposal Event there is any adjustment to the terms and conditions of the transaction
resulting from the Disposal Event, the Buyer shall promptly notify the Seller in writing of such adjustment (with all reasonable details) and state in such notice in full detail the Buyer’s calculation of the corresponding impact to the
Anti-Embarrassment Price generated in such Disposal Event, including a copy of the supporting documentation. The Buyer shall send such notice and the relevant documentation within ten Business Days following such event. Paragraphs (iii) to (vi)
shall then apply mutatis mutandi. 

  

	 	(viii)	 The Buyer shall, and shall cause its Affiliates to, comply with this Clause 3.4 acting with utmost good faith, and
shall not, and shall cause its Affiliates not to, take any action or fail to take any action with the purpose of circumventing the terms or purpose of this Clause 3.4. 

 

	4.	 CONDITIONS PRECEDENT 

 

	4.1	 Conditions Precedent 

  
 - 30 - 

 4.1.1    Conditions Precedent. The
obligation of the Parties to perform the Closing is subject to the following conditions precedent: 
  

	 	(i)	 Obtaining the Antitrust Clearance (the “Antitrust Condition Precedent”). 

 

	 	(ii)	 Completion of the Reorganisation (the “Reorganisation Condition Precedent”). 

4.1.2    Mutual undertaking of the Parties regarding the Antitrust Condition Precedent.
Each of the Parties agree to use their best endeavours to ensure that the Antitrust Condition Precedent are satisfied as soon as practicable after the date of this Agreement and, in any event, prior to the Long Stop Date. 

4.1.3    Undertakings by the Parties regarding the Antitrust Clearance 

 

	 	(i)	 The Buyer and the Seller agree to jointly submit the Transaction to the Antitrust Authority and use their commercially
reasonable efforts to supply as promptly as reasonably practicable any additional information and documents that may be requested by it. The Buyer will take the lead in coordinating this submission and agrees to use its best endeavours to do, or
cause to be done, all things necessary, proper or advisable to ensure that the Antitrust Clearance is obtained as soon as possible and, in any event, prior to the Long Stop Date. In particular, the Buyer undertakes and covenants that during the
Interim Period it will not, and will procure that none of its Affiliates will, enter into any agreement or arrangement or acquire or agree to acquire any interest in any business, where the effect of any such agreement or arrangement or such
acquisition could reasonably be expected to delay, impede or in any respect prejudice obtaining the Antitrust Clearance as soon as possible and, in any event, prior to the Long Stop Date. 

 

	 	(ii)	 The Buyer shall ensure that draft documents, applications or pre-notifications
as may be necessary to obtain the Antitrust Clearance shall be provided and submitted to the Antitrust Authority not later than twenty Business Days from the date of this Agreement, subject to the Seller complying in all material respects and in a
timely basis with its obligations in Clause 4.1.3(iii). The Buyer shall consult with the Seller and its advisors on the manner of submission and content of such information, documents, applications or
pre-notifications prior to submitting them to the Antitrust Authority and provide the Seller and its advisors with redacted drafts (that is, after deleting therefrom any confidential information or
commercially sensitive data which may be provided instead to Seller’s external legal counsel on an external counsel only basis) of said documents, and give the Seller a reasonable opportunity to comment thereon. The Buyer will take reasonable
consideration of the comments proposed by the Seller, as the case may be. 

  

	 	(iii)	 The Seller shall, and shall procure that its subsidiaries and advisors shall, cooperate with the Buyer in providing
the Buyer with all such assistance as is reasonably necessary, and shall provide the Antitrust Authority with such information as may reasonably be necessary and as it is reasonably able to provide to ensure that: 

  
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	 	a)	 all relevant documents, applications or pre-notifications are made in
accordance with Clause 4.1.3(ii); and 

  

	 	b)	 any request for information from the Antitrust Authority is fulfilled promptly and in any event in accordance with any
relevant time limit. 

 The Seller shall consult with the Buyer and its advisors on the manner of submission and
content of such information, documents, applications or pre-notifications prior to submitting them to the Antitrust Authority and provide the Buyer and its advisors with redacted drafts (that is, after
deleting therefrom any confidential information or commercially sensitive data which may be provided instead to Buyer’s external legal counsel on an external counsel only basis) of said documents, and give the Seller a reasonable opportunity to
comment thereon. The Seller will take reasonable consideration of the comments proposed by the Buyer, as the case may be. 
  

	 	(iv)	 Each of the Parties shall promptly reply to any requests for information or additional documentation made to that
Party by the Antitrust Authority. Each of the Parties shall give the other reasonable opportunity to comment on the content of the reply prior to submitting them to the Antitrust Authority and provide the other with redacted copies (that is, after
deleting therefrom any confidential information or commercially sensitive data which may be provided instead to the other Party’s external legal counsel on an external counsel only basis) of said information or documents. 

 

	 	(v)	 To the extent permitted by applicable law, each of the Parties shall maintain the other regularly informed of the
status of the process and shall provide it with redacted copies (that is, after deleting therefrom any confidential information or commercially sensitive data which may be provided instead to the other Party’s external legal counsel on an
external counsel only basis) of the correspondence maintained with the Antitrust Authority. 

  

	 	(vi)	 Where either of the Parties intends to participate in any meeting, teleconference or any other type of communication
with the Antitrust Authority, it shall: 

  

	 	a)	 inform the other Party and its advisors of such circumstance and take into account any observations the other Party
may make in this connection, provided the Antitrust Authority makes no objection; and 

  

	 	b)	 make sure that the other Party may attend said meeting, teleconference or communication or be represented should it so
wish and should the Antitrust Authority not object. 

  

	 	(vii)	 Each of the Parties shall promptly inform the other of any relevant notices, oral or written, received by it in
relation to the procedures or negotiations commenced to fulfil the Antitrust Clearance. The Buyer shall deliver to the Seller and its advisors, as soon as received, a copy of the ruling, decision or document giving rise to the satisfaction or non-satisfaction of the Antitrust Clearance or stating or evidencing any significant development or situation 

  
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in respect thereof. Each of the Parties shall also keep the other informed of all the steps and of any relevant facts in connection with the process to obtain the Antitrust Clearance.

  

	 	(viii)	 Either Party shall have the right to request and promptly obtain from the other information as to the status,
advancement or developments regarding the Antitrust Clearance. 

  

	 	(ix)	 In the event that any of the Parties at any time becomes aware of any circumstance that could reasonably be expected
to prevent, delay or frustrate the obtaining of the Antitrust Clearance, it shall promptly deliver written notice thereof to the other Party. 

  

	 	(x)	 If it becomes apparent that the Antitrust Authority will only approve the Transaction subject to conditions,
obligations, undertakings and/or modifications (each a “Commitment”), in particular that relates in any manner whatsoever to: (i) any undertaking or business, activities or assets of any undertaking that is controlled by the
Buyer or any of its Affiliates; or (ii) any undertaking or business, activities or assets of the relevant Companies, the Buyer shall offer, accept and agree to any such Commitment as may be necessary to obtain the Antitrust Clearance and shall
take any and all steps necessary to complete the Commitment, preferably, with respect to clearance by the Antitrust Authority, by means of the negotiation, as applicable, of a formal Merger Control Agreement (Acordo de Controle de
Concentrações – ACC) with the General Superintendence and/or the Administrative Tribunal of the Antitrust Authority. 

The Commitment shall include, without limitation, the proposal, negotiation and acceptance by the Buyer of (i) any and all
divestitures of the businesses or assets of it or its subsidiaries or its controlled Affiliates or, following the Closing Date, of the Companies, (ii) any agreement to hold separate any assets of the Buyer or any of its Affiliates or of the
Companies, (iii) any agreement to license any portion of the business of the Buyer or any of its Affiliates or of the Companies, (iv) any limitation to or modification of any of the businesses, services or operations of the Buyer or any of
its Affiliates or, following the Closing Date, of the Companies, and (v) any other action (including any action that limits the freedom of action, ownership or control with respect to, or ability to retain or hold, any of the businesses,
assets, product lines, properties or services of the Buyer or any of its Affiliates or of the Companies), in each case as may be necessary to obtain the Antitrust Clearance. 

The Buyer expressly acknowledges and accepts that any required action by the Buyer to complete the Commitment shall not reduce, impact
or amend the Price agreed under this Agreement. 
  

	 	(xi)	 The Parties agree as follows in respect of the possible outcome of the analysis of the Transaction by the Antitrust
Authority: 

  
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	 	a)	 If the Antitrust Authority authorizes the Transaction unconditionally, the Antitrust Condition Precedent in Clause
4.1.1(i) shall be deemed satisfied (x) with respect to clearance by CADE, the day such decision becomes final and non-appealable, i.e. the day that CADE issues the certification mentioned in section 131
of its internal rules (Regimento Interno), if the corresponding decision is rendered by its General Superintendence (Superintendência Geral), or (y) the day the Transaction is finally decided by its Administrative Tribunal,
in case the unconditional clearance is issued by that authority; 

  

	 	b)	 If the Antitrust Authority authorizes the Transaction subject to any Commitment, the Antitrust Condition Precedent
shall be deemed satisfied on the date on which the Buyer is notified of the Antitrust Clearance and such Antitrust Clearance is effective pursuant to applicable law and the Transaction can be consummated without infringing that authorization.

  

	 	(xii)	 All information furnished to the Parties or the Parties’ advisors under this Clause 4.1.3 shall constitute
Confidential Information. 

  

	 	(xiii)	 Cost and expenses. Each Party will bear all the fees, costs and expenses necessary to fulfil its respective
undertakings under this Clause 4.1.3. 

 4.1.4    Obligations of the
Seller as regards the Reorganisation. The Seller undertakes to procure that the Reorganisation is completed before the Long Stop Date and, in particular, to cause the minority interests in the Chilean Companies and in the Peruvian Company to
be transferred to Towers Latam or a subsidiary of Towers Latam, so that, following such shareholding restructuring, Towers Latam is the direct or indirect owner of 100% of the share capital of the Chilean Companies and the Peruvian Company. 

The Seller shall keep the Buyer promptly informed of any material development of which the Seller becomes aware regarding the
satisfaction of the Reorganisation Condition. In particular, the Seller shall, as soon as practicable, (i) promptly make available to the Buyer any documentation in relation to the Reorganisation; and (ii) deliver written notice thereof to
the Buyer in the event of: (a) satisfaction of the Reorganisation Condition; or (b) any circumstance that could reasonably be expected to prevent, delay or frustrate the satisfaction of the Reorganisation Condition. 

4.1.5    Waiver of the Reorganisation Condition Precedent 

The Buyer shall be entitled to waive the Reorganisation Condition Precedent, in total or in part, at its discretion, to the extent
permitted by applicable law. 
 4.1.6    Extended Long Stop Date 

The Parties acknowledge that the Long Stop Date may be extended once for an additional term of six months at the sole discretion of
either the Seller or the Buyer, in order to satisfy the Conditions Precedent (such later date the “Extended Long  

  
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Stop Date”). In the event that the Long Stop Date is so extended, references made in this Agreement to the Long Stop Date will be understood to be the Extended Long Stop Date. 

 

	5.	 COVENANTS IN THE INTERIM PERIOD 

 

	5.1	 Management of the Companies 

5.1.1    General principle. Except as otherwise provided for in this Agreement, between
the date of this Agreement and the Closing Date (the “Interim Period”), the Seller undertakes to cause the Companies to be managed in all material respects within the ordinary course of business in accordance with past practice.

 5.1.2    Restricted actions. The Seller shall ensure that during the Interim Period
none of the Companies (or the Seller itself in relation to paragraph (iv) below) complete or commit to complete any of the following actions, except with the prior written consent of the Buyer, such consent not to be unreasonably withheld or
delayed, or as required under applicable law: 
  

	 	(i)	 Amend its by-laws or other constitutional documents; 

 

	 	(ii)	 Take part in any merger, spin-off or winding up or file an application for
insolvency or liquidation, or in any other corporate transaction with similar effects to the foregoing; 

  

	 	(iii)	 Create, allot, issue, purchase, repay, redeem or agree to create, allot, issue, purchase, repay or redeem any of its
share or loan capital; 

  

	 	(iv)	 Create any Encumbrance over the shares of the Companies; 

 

	 	(v)	 Make any material change to its accounting or Tax methods, practices, policies or procedures or make any Tax election
or enter into, amend or terminate any Tax consolidation or similar agreement (other than if requested by the statutory auditor or required to comply with any applicable law); 

 

	 	(vi)	 Except for increases (a) in the ordinary course of business in accordance with past practices, (b) pursuant
to existing arrangements as at the date hereof fairly disclosed or (c) pursuant to the existing collective bargaining agreements or required by applicable law, increase the compensation payable to its employees or putting in place any retention
arrangement (except retention arrangements to be paid before the Closing Date); 

  

	 	(vii)	 Grant any exceptional remuneration, bonus or benefit to any Senior Officer (except exceptional remunerations, bonuses
or benefits to be paid before the Closing Date), other than normal bonus and commission pay-outs related to schemes already in place or fairly disclosed; 

 

	 	(viii)	 Proceed to a structural or material change in its Business; 

  
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	 	(ix)	 Save as pursuant to existing arrangements as at the date hereof which are fairly disclosed, acquire or enter into a
legally binding commitment to acquire (whether by way of purchase, subscription, merger, consolidation, demerger or otherwise) any business, asset or undertaking in excess of €1,000,000 per
transaction or a series of related transactions; 

  

	 	(x)	 Save as pursuant to existing arrangements as at the date hereof which are fairly disclosed, sell, lease, licence or
otherwise dispose or enter into a legally binding commitment to sell, lease or otherwise dispose of any business, asset or undertaking in excess of €1,000,000 per transaction or a series of
related transactions; 

  

	 	(xi)	 Make any loan in excess of €500,000 per transaction or series of
related transactions, or forgive any indebtedness owed to them (in each case, except mere intragroup transactions within the Companies); 

  

	 	(xii)	 Incur any new debt, the amendment of financing agreements, a waiver of rights, in each case unless they are for an
amount lower than €5,000,000 (per transaction or a series of related transactions) and the creation of security interests or provision of personal guarantees other than those deriving from loans
or credits existing at the date hereof or any renewal or modification thereof, as fairly disclosed to the Buyer; 

  

	 	(xiii)	 Participate in, or terminate any participation in, any joint venture or profit-sharing arrangement or any other
analogous arrangement; 

  

	 	(xiv)	 Enter or agree to enter into any Material Contract or any contract with a company of the Telefónica Group or
the shareholders of the Seller for an amount higher than €250,000 which is (a) not on arm’s length terms or full value, (b) not in the ordinary course of business, or (c) on
unusual, abnormal or onerous terms or materially restrictive on its Business; 

  

	 	(xv)	 Amend, or agree to amend, any Material Contract (other than (a) extending the term of any Material Contract that
is due to expire before the Long Stop Date, or (b) amendments that are operationally driven and do not negatively affect the economic terms of the Material Contract in any material respect, taken as a whole; 

 

	 	(xvi)	 Whether by one transaction or a series of related transactions, undertake or commit any capital expenditure except if:
(a) it does not exceed in any month 125% of the relevant Company average monthly capex for the individual quarters estimate as set forth in Schedule 5 (provided that the capital expenditure estimate not used in a month will be added to
the estimate of the following month and so on); or (b) is in the ordinary course of business and it has been fairly disclosed prior to the date of this Agreement; 

 

	 	(xvii)	 Grant or issue any mortgage, charge, debenture or other security other than as required by applicable law or by
existing contractual obligations fairly disclosed to the Buyer; 

  
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	 	(xviii)	 Do or omit to do any action that might result in the termination, revocation, suspension, modification or non-renewal of any material license, consent or authorization. For this specific purpose the Seller shall procure that the Companies comply with all reporting and conditions imposed by regulators and applicable law;

  

	 	(xix)	 Settle any Tax claim, surrender any right to claim a refund of Taxes, enter into any agreement with Tax authorities or
seek any ruling, clearance or confirmation from any Tax authority in excess of €250,000; 

  

	 	(xx)	 Make any election of a Taxation nature that might alter the Tax status, become resident for Tax purposes or create a
permanent establishment in either case in a jurisdiction where the Companies were not registered or did not have such a permanent establishment prior to the signing date of this Agreement; 

 

	 	(xxi)	 Initiate, settle or abandon any claim, litigation, arbitration or other proceedings or make any admission of
liability, in each case if in excess of €500,000 per claim or group of claims arising from substantially identical facts or circumstances (and excluding, in any case, in relation to normal debt
collection); or 

  

	 	(xxii)	 Enter into any agreement (conditional or otherwise) to do any of the foregoing. 

5.1.3    Procedure for authorising restricted actions during the Interim Period.
If, during the Interim Period, the Seller intends that any of the Companies takes any of the actions referred to in Clause 5.1.2 above, the Seller shall notify the Buyer and require its consent, such consent not to be unreasonably withheld or
delayed: 
  

	 	(i)	 The Buyer shall use all reasonable endeavours to notify the Seller of the Buyer’s decision to approve or not
approve any such proposed actions within three Business Days of receipt of such notification from the Seller and, in the case of rejection, providing a reasonable justification thereof. 

 

	 	(ii)	 The consent of the Buyer shall be deemed to have been granted if the Buyer does not notify the Seller of its
disagreement in respect of the proposed action in writing within such three Business Days of receipt by the Buyer of a written request from the Seller. 

  

	 	(iii)	 For the avoidance of doubt, if such a request is rejected by the Buyer and all Closing Actions affecting the Company
in question are completed, the Seller shall not be liable in any event for any Damages which would not have occurred but for such non-approval. 

  
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	5.2	 Actions to be completed by the Seller and the Companies during the Interim Period 

5.2.1    Expressly permitted actions. Nothing in Clause 5.1 shall operate so as to
prevent or restrict the Seller or any of the Companies to take or omit to take any of the following actions or any other action expressly contemplated or permitted under this Agreement or referenced in Schedule 6 or which constitutes, forms
part of, is incidental to or is necessary for the completion of any transaction expressly foreseen in Schedule 6: 
  

	 	(i)	 Any action required to be undertaken by the Companies to comply with applicable law or binding direction, instruction,
pronouncement or decision of a competent court or administrative or regulatory authority; 

  

	 	(ii)	 Any actions reasonably undertaken by the Companies in an emergency or disaster situation with the intention of
minimising any adverse effect of such situation in any of the Companies and/or the Business; 

  

	 	(iii)	 Any action which is mandatory for the Seller, the applicable Company or their directors or managers under any contract
entered into prior to the date of this Agreement or any other source of obligations (including under any applicable law), provided that such action, contract or source of obligations has been fairly disclosed and the action falls within the ordinary
course of business; 

  

	 	(iv)	 Any action which is necessary in order to implement or otherwise address any conditions or commitments imposed by the
Antitrust Authority; 

  

	 	(v)	 Any action which is referenced in any Transaction document or was fairly disclosed to the Buyer or any of its
officers, directors, managers, representatives or advisors in writing prior to the date of this Agreement; 

  

	 	(vi)	 Any action to approve, declare or pay any dividend or any other distribution, including any interim dividend, by any
of the Companies as well as any capitalization or reduction of the share capital or equity of any of the Companies for the purpose of distributing funds from the Companies to its shareholders, provided that each of the Companies has sufficient
working capital to meet such Company’s payment obligations in the short term following the Closing; and 

  

	 	(vii)	 Any actions taken with the consent of the Buyer pursuant to Clause 5.1.3. 

In any event, but to the extent reasonably possible, the Seller hereby undertakes to previously notify and consult in good faith with
the Buyer if it intends to carry out any action restricted in principle by Clause 5.1.2 but permitted pursuant to this Clause 5.2.1, giving the Buyer the opportunity to discuss in good faith with the Seller the actions and the underlying grounds for
their implementation. 
 The Buyer expressly acknowledges that the Seller is not prevented or limited in any form by the provisions of
Clause 5.1.2 from causing the Companies to make any payments that the Companies are contractually bound to make when due to 

  
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the Seller or any Seller’s Affiliate under existing agreements, as fairly disclosed to the Buyer. 

5.2.2    Required actions. During the Interim Period the Seller shall
(i) notwithstanding Clause 5.1.2 (xvi), undertake to commit capital expenditure in a manner consistent with the estimate set forth in Schedule 5, and (ii) pay any retention arrangements prior to the Closing Date. 

Additionally, during the Interim Period the Seller shall (and shall cause the Companies to) procure (to the extent under its control)
that (i) all trade payables, accruals and trade receivables (including in each case all intercompany balances other than those included in Adjusted Net Debt) will operate in the ordinary course of business, such that there shall be no
acceleration of cash receipts or deceleration of cash payments as compared to past practice and contractual terms; (ii) there are no delays in cheque runs or supplier payments or actions to incentivise or otherwise seek early settlement from
customers; and (iii) settle any intercompany balances historically reported in working capital in accordance with past practice and under the terms and conditions of their underlying contracts (although in the event of a discrepancy between
contractual terms and past practice, past practice shall govern this covenant). 
  

	5.3	 Other pre-Closing actions 

Prior to Closing, the Seller undertakes, and shall cause Towers Latam to undertake, at the Seller’s own cost and expense, to: 

 

	 	(i)	 Make available proof of payment of the Chilean stamp tax for the Chilean Facilities, including any interest,
readjustment and/or fine; 

  

	 	(ii)	 Expressly waive its rights contained in Clause 13.1c) of each of the Chilean Facilities, and fully discharge Towers
Chile Holding for all claims and/or allegations in that regard, in accordance with the applicable law of the Chilean Facilities; 

  

	 	(iii)	 To obtain a cost certificate from the Peruvian Tax Authority due to the indirect transfer of shares of Towers Peru;
and 

  

	 	(iv)	 To transfer the Minority Argentinian Stake to Towers Latam, free and clear from any Encumbrances, for a reasonable
price (based on the Seller’s current estimation) agreed by the Seller and Towers Latam, that shall be paid simultaneously and in the same act (unidad de acto) by Towers Latam to the Seller; and duly record such transfer in the stock
registry book of Towers Argentina, provided that upon the completion of such transfer, Towers Latam will be the owner of 100% of the shares of Towers Argentina (the Buyer accepting the resulting sole shareholder situation of Towers Argentina and
that the directors of Towers Argentina will not have any liability at this regard). Such price shall be paid in full, without any deduction, withholding, set-off, retention or counterclaim. The Seller and
Towers Latam shall comply with all required formalities pursuant to Argentinian law to complete the valid transfer of the full ownership of the Minority Argentinian Stake from the Seller to

  
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Towers Latam, including the following: (a) delivering to Towers Latam an original letter signed by the Seller, whose signature shall be notarized by a notary public (if such signature is not
notarized within the Argentinian territory, the notarization shall be accompanied by the Apostille pursuant to The Hague Convention of 1961), notifying Towers Argentina of the transfer of the Minority Argentinian Stake in favour of Towers Latam
under the terms of Section 215 of the Argentine Companies Law N° 19,550, and instructing the board of directors of Towers Argentina to record such transfer in the stock registry book of the company. Such letter shall be drafted in the form
to be agreed in good faith between the Parties prior to the Closing Date; and (b) delivering to Towers Latam the original stock certificates evidencing ownership of the Minority Argentinian Stake by the Seller, as applicable, for transfer to
Towers Latam. 

 Additionally, prior to the Closing Date, the Seller shall provide and shall cause the Companies to
provide, and shall use its reasonable best efforts to cause their respective representatives and advisors (including accountants) to provide, customary cooperation reasonably requested by the Buyer in connection with the arrangement of the debt or
equity financing for purposes of, or in connection with, funding the Transaction (including the disclosure of information set out in Clause 13.1.2). Buyer shall, promptly upon request by the Seller, reimburse the Seller for all reasonable and
documented out-of-pocket costs incurred by the Seller or its subsidiaries or their respective representatives in connection with such cooperation. 

 

	5.4	 Access to information before the Closing Date 

During the Interim Period, the Seller undertakes to deliver to the Buyer, subject to any restriction pursuant to applicable antitrust
laws and, as appropriate, through a clean team arrangement, (i) quarterly interim management accounts of the Companies (including, where available, consolidated management accounts) in the format produced by the Companies in the ordinary course
of business, redacted as it may be required to preserve any confidential or commercially sensitive information; (ii) updates as to the progress of any material legal, tax, commercial, financial or any matter relating to the Companies or the
Business as reasonably requested by the Buyer; as well as (iii) upon reasonable written notice from the Buyer, subject to applicable law, any information or documentation reasonably necessary for the purpose of preparing the integration of the
Companies within the group of the Buyer. 
  

	5.5	 Board and shareholders meeting of Towers Argentina 

After the transfer of the Minority Argentinian Stake to Towers Latam takes place, and, in any event, prior to Closing, the Seller shall
cause Towers Argentina to: (i) hold a valid board meeting in order to convene a shareholders meeting to be held on Closing Date; and (ii) hold such shareholders meeting to approve the resignation of the directors of Towers Argentina,
undertaking not to bring any action against any of them on any grounds related to or arising out of their position as director or secretary or deputy secretary of the relevant Company up to the Closing Date (in each case except for wilful misconduct
(dolo)), and appoint the new 

  
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directors, which shall be appointed by the Buyer. The board and shareholders meetings’ minutes should be copied/transcribed to the corporate books of Towers Argentina and duly signed by the
board members and Towers Latam as the sole shareholder of Towers Argentina. 
  

	6.	 CLOSING 

  

	6.1	 Date and place 

6.1.1    Closing Date. If the Conditions Precedent pursuant to Clause 4.1.1 are
satisfied or waived, if applicable, no later than ten Business Days prior to the last Business Day of a month, the Closing Date shall be the last Business Day of such month; and, if the Conditions Precedent are satisfied or waived, if applicable,
within the last ten Business Days of a month, the Closing Date shall be the last Business Day of the following month. 

6.1.2    Closing place. The Closing shall take place in Madrid, at the offices of the
Notary, at 12:00 hours (CET) on the Closing Date. 
  

	6.2	 Closing Actions on the Closing Date 

On the Closing Date, all of the actions and transactions listed below shall be performed as a single act (unidad de acto) and
shall be deemed to have been performed simultaneously so that the Closing shall not be understood to be completed until all these Closing Actions have been fully performed. In the event that any of the Parties does not complete any of these Closing
Actions that it is obliged to complete pursuant to this Clause 6.2, it shall be understood that none of them has taken place. 
  

	 	6.2.1	 Closing as regards the Companies 

 

	 	(i)	 The Parties shall produce and exhibit sufficient powers of attorney required for the execution and completion of the
notarisation of this Agreement and any other Transaction document or actions required under this Agreement. 

  

	 	(ii)	 The Parties shall execute a closing public deed in front of the Notary for the purposes of recording the completion of
this Agreement pursuant to which (a) they formalise (elevar a público) this Agreement; and (b) the Seller transfers ownership and delivers the Shares of Towers Latam to the Buyer, who in turn acquires and receives such
Shares, free and clear from Encumbrances, subject only to the payment of the Closing Price of Towers Latam, in the form to be agreed in good faith between the Parties prior to the Closing Date; 

 

	 	(iii)	 The Buyer shall pay to the Seller, as set forth in Clause 3.2.3 above, the Closing Price. The Seller shall acknowledge
its full receipt and deliver the corresponding evidence of payment (carta de pago) to the Notary; 

  
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	 	(iv)	 The Seller shall deliver to the Notary the Titles of Ownership of the Shares of Towers Latam, so that the Notary
records the relevant selling notes on such titles and recording of the transfer of such Shares in the share register book (libro registro de socios); 

  

	 	(v)	 In accordance with applicable laws, the Seller shall deliver to the Buyer the Titles of Ownership of the shares of the
Chilean Companies and the Peruvian Company acquired by Towers Latam or a subsidiary of Towers Latam in accordance with Clause 4.1.4; 

  

	 	(vi)	 The Seller shall deliver to the Buyer documentary proof of the completion of the transfer to Towers Latam of the
Minority Argentinian Stake in accordance with Clause 5.3(iv); 

  

	 	(vii)	 The Buyer and the Seller, as applicable, shall deliver to the Notary a copy of a shareholders’ resolution of the
Buyer and/or the Seller, respectively, approving the Transaction as regards Spain for the purposes of article 160.(f) of the Spanish Companies Act (Ley de Sociedades de Capital) (if applicable); 

 

	 	(viii)	 The Seller shall deliver a certificate of the relevant managing bodies of Towers Latam attesting that any requirements
under the bylaws and applicable law for the transfer of the Shares of Towers Latam have been fulfilled and that the respective Shares are free and clear from Encumbrances; 

 

	 	(ix)	 The Parties shall execute in front of the Notary a notarial deed of deposit of one of the Data Room USBs;

  

	 	(x)	 The Seller shall deliver to the Buyer (a) the written resignations of the directors of Towers Latam and the Latam
Companies pursuant to which each of the directors resigns from his/her position in such Companies’ management bodies and declares that he/she has no claims against any of the relevant Companies and, where applicable, (b) the written
resignation of the secretary and deputy secretary of the board of directors of Towers Latam and the Latam Companies, as applicable, from his/her office in the Companies’ boards of directors, all in accordance with applicable local laws and the
resignation letter forms to be agreed in good faith between the Parties prior to the Closing Date; 

  

	 	(xi)	 The Buyer shall cause Towers Latam to pass the necessary resolutions, both at a general meeting and board level, in
order to accept the resignations referred to in paragraph (x), approving management by those directors, secretary and deputy secretary of Towers Latam and the Latam Companies, undertaking not to bring any action against any of them on any grounds
related to or arising out of their position as director or secretary or deputy secretary of the relevant Company up to the Closing Date (in each case except for wilful misconduct (dolo)). However, the approval of the resignation of the Towers
Argentina directors will be carried out in accordance with Clause 5.5; 

  
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	 	(xii)	 The Seller shall deliver to Buyer an original power of attorney drafted in the form to be agreed in good faith between
the Parties prior to the Closing Date, signed by the legal representative in Argentina registered under Section 123 of the Argentine Companies Law of Towers Latam, such signature being notarized by a notary public (if such signature is not
notarized within the Argentinian territory, the notarization shall be accompanied by the Apostille pursuant to The Hague Convention of 1961), authorizing the Buyer’s designated representatives to represent, act and vote on behalf of Towers
Latam in any shareholders meeting of Towers Argentina to be held immediately following the Closing Date. Upon the issuance of the power of attorney, Towers Latam shall grant an indemnity in favour of such legal representative in respect of all the
acts to be performed by the Buyer’s designated representatives. Without prejudice to the foregoing, the Buyer undertakes to cause the replacement of the current representatives of Towers Latam as foreign shareholder of Towers Argentina by new
representatives designated by the Buyer and to cause any registration or other formalities to be completed for it effectiveness as soon as possible following Closing. 

 

	 	(xiii)	 By means of the tri-partite agreement or an assignment letter in the
form to be agreed in good faith between the Parties prior to the Closing Date, the Seller shall assign and transfer to the Buyer and the Buyer shall acquire, assume and accept the Chilean Facilities, together with all of the ancillary rights and
obligations of the Seller in respect thereof under each of the Chilean Facilities, the Buyer being subrogated into the contractual position held by the Seller under the Chilean Facilities, and the Buyer shall pay to the Seller as consideration for
such assignment an amount equal to the principal amount of the Chilean Facilities plus accrued and unpaid interests as of the Closing Date under the Chilean Facilities (to be notified by the Seller to the Buyer at least ten Business Days prior to
the Closing Date), that shall be paid simultaneously and in the same act (unidad de acto) by the Buyer to the Seller. Such consideration shall be paid in full, without any deduction, withholding,
set-off, retention or counterclaim. The Parties shall comply with all required formalities pursuant to Spanish and Chilean law, as applicable, to complete the valid assignment and transfer of the Chilean
Facilities from the Seller to the Buyer; 

  

	 	(xiv)	 The Parties shall execute any and all additional agreements and comply with any and all ancillary undertakings,
commitments or obligations that any of the Parties may have towards the other in order to fulfil its obligations under this Agreement and complete the Transaction as regards Towers Latam and the Latam Companies; and 

 

	 	(xv)	 The Seller shall deliver to the Buyer or its representatives, all the corporate and accounting books and records of
Towers Argentina, duly signed by the corresponding board members and shareholders, and up to date, as well as all original filings and registrations with the Public Registry of Commerce of the City of Buenos Aires (Inspección General de
Justicia) and the Public 

  
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Registry of Commerce of the Province of Buenos Aires (Dirección Provincial de Personas Jurídicas) of Towers Argentina and Towers Latam. 

 

	6.3	 Failure to effect the Closing 

Following the satisfaction or waiver, as applicable, of the Conditions Precedent, if the Buyer or the Seller do not proceed with the
Closing pursuant to Clause 6.1 above or fail to comply with any Closing Action as set out in Clause 6.2 above, the non-defaulting Party (the Seller or the Buyer, as the case may be) shall be entitled (but
shall not be obliged to) at its sole discretion and by written notice to the other Party: 
  

	 	(i)	 To effect the Closing so far as practicable having regard to the defaults which have occurred and without prejudice to
the following paragraph; and/or 

  

	 	(ii)	 To request specific performance and set a new Closing Date, in which case the defaulting Party shall be obliged to pay
to the other Party, on the new Closing Date, a penalty of 2.5% of the Base Price of Towers Latam; or 

  

	 	(iii)	 To terminate this Agreement in accordance with Clause 9 below, and with the penalty set forth in the previous
paragraph. 

 In all these cases, in addition to and without prejudice to all other rights or remedies available to
the non-defaulting Party, including the right to claim for any damage or losses (daños y perjuicios) determined in accordance with the Spanish Civil Code (Código Civil) from the
defaulting Party. 
  

	7.	 GENERAL WARRANTIES OF THE PARTIES 

The Seller warrants to the Buyer and the Buyer warrants to the Seller that the statements set out below are true and correct as of the date of this
Agreement and that they will be true and correct as of the Closing Date (being understood to be automatically repeated and affirmed by each Party to the other at the Closing Date): 

 

	(i)	 It is an entity duly formed and validly existing pursuant to the applicable law to it, and has full capacity, with no
restrictions whatsoever, to enter into this Agreement and assume the undertakings established herein, as well as any such undertakings as may arise hereunder, and to execute all such documents as may be necessary for such purpose.

  

	(ii)	 It is not insolvent; there are no insolvency proceedings underway affecting it; it is not aware of any circumstance
which could cause a declaration of insolvency and it has the capacity to engage in its current activities and to own and manage its properties and assets. 

  

	(iii)	 It has met all such requirements as may be imposed on it by the applicable law to it and its bylaws in relation to the
execution of this Agreement and the assumption of the undertakings contained herein. 

  
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	(iv)	 It has full rights, powers and authority to enter into this Agreement and comply with its terms, for which purposes it
has duly adopted all of the necessary and appropriate resolutions to authorize the signature, execution, performance and closing of this Agreement, which constitutes a valid and legally binding obligation, enforceable pursuant to its terms and
conditions. 

  

	(v)	 The signing and execution of, and compliance with, this Agreement and the corresponding Closing Actions represent no
breach of any agreement to which it is a party, nor do they involve the violation of any applicable law to it. 

 In addition, the
Buyer confirms, represents and warrants to the Seller, as of the date hereof and as of the Closing Date, that any monies to be used to satisfy the Buyer’s obligations hereunder, including for the payment of the Price and any other amounts
payable hereunder, and all fees and expenses relating to the transactions contemplated by this Agreement and all agreements and documents contemplated hereby to be executed and delivered by the Buyer (a) have not been or will not be derived
from or relate to any illegal activities, including but not limited to, money laundering activities, activities targeted by anti-terrorism laws or activities targeted by AML and any Anti-Bribery Laws; and (b) are not derived from, invested for
the benefit of, or related in any way to a legal or natural person that is a Restricted Party where such act could cause any person to violate any Sanctions or could reasonably be expected to cause any person to otherwise become a Restricted Party.

 The Seller and the Buyer undertake to make good and indemnify one another for any damage or losses (daños y perjuicios) determined in
accordance with the Spanish Civil Code (Código Civil) caused by the untruthfulness or inaccuracy of any of the representations and warranties given above. 
  

	8.	 SPECIFIC WARRANTIES OF THE SELLER 

 

	8.1	 Seller’s Specific Warranties 

The Seller warrants to the Buyer that the statements set out below (the “Specific Warranties”) are true and correct as
of the date of this Agreement and that they will be true and correct as of the Closing Date (being understood to be automatically repeated and affirmed by the Seller to the Buyer at the Closing Date): 

 

	 	(i)	 It is the legitimate owner, directly or indirectly through other companies of the Telxius Group, of the shares of the
Companies (including, for the avoidance of doubt, the Minority Argentinian Stake), free and clear from Encumbrances, fully subscribed and paid in and with all the rights inherent in them by reason of statute and the bylaws, as set forth in Recital
II, and that it is entitled to sell and transfer, or cause the sale and transfer by the relevant companies of the Telxius Group, of the full ownership of such shares on the terms set out in this Agreement. 

 

	 	(ii)	 There is no agreement, arrangement or obligation to create or give an Encumbrance in relation to the shares of the
Companies. No person has 

  
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claimed to be entitled to an Encumbrance in relation to any of the shares of the Companies. 

  

	 	(iii)	 There are no agreements or arrangements in force which provide for the present or future issue, transfer, redemption
or repayment of, or grant to any entity, person or individual the right (whether conditional or otherwise) to require the issue, transfer, redemption or repayment of any shares in the Companies or any other securities. 

 

	 	(iv)	 The acquisition of the Shares established under this Agreement shall grant the Buyer the full legal ownership of such
Shares, including their corresponding political and economic rights as prescribed by the applicable law and set forth in Towers Latam’s by-laws. 

 

	 	(v)	 The Companies are duly incorporated entities and validly existing under the laws of their respective jurisdiction of
organization, are duly registered in the corresponding commercial registers and hold full legal personality pursuant to their applicable laws. They have not been declared insolvent or bankrupt, are not involved in
winding-up or liquidation proceedings, compulsory administration, recovery or suspension of payments. 

  

	 	(vi)	 The Companies have not adopted any resolution for a spin-off, merger,
transformation or similar corporate transaction, nor have assumed any commitment or obligation whatsoever to adopt any such resolution, nor have they carried out any act that could entail a change in their share capital. 

 

	 	(vii)	 No person is entitled to receive a finder’s fee, brokerage or commission from any of the Companies in connection
with the Transaction. 

  

	 	(viii)	 None of the Companies, nor, to the Seller’s knowledge, any director or officer, employee or agent of any of the
Companies, or other person acting on behalf or for the benefit of any of the Companies has: 

  

	 	a)	 used or provided any corporate funds; 

 

	 	b)	 made any contribution, gift, entertainment or other expenses relating to political activity; or 

 

	 	c)	 otherwise taken any action in furtherance of an offer, payment, promise to pay, or authorisation or approval of the
payment or giving of money, property, gifts or anything else of value, 

 directly or indirectly, to any: 

 

	 	a)	 government official, including any officer or employee of a government or government-owned or controlled entity or of
a public international organisation, or any political party or party official or candidate for political office; or 

  

	 	b)	 any other person acting in an official capacity, 

  
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 to influence official action or secure an improper advantage, or encourage the recipient
to breach a duty of good faith or loyalty or the policies of his/her employer, or has otherwise violated any of the AML and Anti-Bribery Laws, or has otherwise made, offered or promised any Prohibited Payment. 

 

	 	(ix)	 To the Seller’s knowledge, none of the Companies has directly or knowingly indirectly engaged in any dealings or
transactions with any Restricted Party (except to the extent that such dealing or transaction would not be prohibited for a person or entity required to comply with Sanctions), and, to the Seller’s knowledge, no director, officer, employee, nor
any agent or representative of any Company, is a Restricted Party. Likewise, to the Seller’s knowledge, the Companies have not directly or knowingly indirectly violated any Export Control Laws. 

 

	 	(x)	 None of the Companies is party to any actual or, to the Seller’s knowledge, threatened legal proceedings or
enforcement action relating to any breach or suspected breach of any of the AML and Anti-Bribery Laws or Sanctions, or any Export Control Laws. 

  

	 	(xi)	 The Seller shall not use the proceeds transferred pursuant to this Agreement in violation of any of the AML and
Anti-Bribery Laws, nor shall it directly or knowingly indirectly transfer such proceeds to or for the benefit of any Restricted Party or in violation of Sanctions. 

 

	 	(xii)	 None of the Companies is a Restricted Party and none of the Companies has otherwise violated any Sanctions or
undertaken any act that could reasonably be expected to result in it becoming a Restricted Party. 

  

	 	(xiii)	 The Seller is not a Restricted Party. 

 

	 	(xiv)	 The Management Accounts have been prepared in accordance with IFRS as consistently applied by the Telxius Group, are
materially accurate and fairly represent the state of affairs of the Companies at their relevant date, neither materially overstating the value of the assets nor understating the value of the liabilities, and present a materially correct view of
their profit and loss for the periods concerned. 

  

	 	(xv)	 The consolidated pro forma financial statements for the Companies for the fiscal year ending 31 December 2020,
the forecast consolidated pro forma financial statements for the Companies for the fiscal year ending 31 December 2021, which include, among others, the EBITDA figures for the fiscal year ending 31 December 2020 in which the calculation of
the Base Price is based, have been prepared with reasonable care and attention and on a consistent basis with the Telxius Group’s internal accounting policies. 

 

	 	(xvi)	 The revenues presented in the Management Accounts are, in all material respects: 

  
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	 	a)	 supported by written contracts in force (or in the process of being renewed) of the relevant Companies as of the
relevant date (the “Relevant Contracts”), and 

  

	 	b)	 consistent with the amounts, rates, and terms in effect, as applicable, under such Relevant Contracts as of the
relevant date of the Management Accounts, and 

  

	 	c)	 have been invoiced by the relevant Companies to their respective counterparties, or accrued in accordance with such
amounts, rates and terms in effect (including the proper invoicing of such clients, or accruals for amounts payable related to the reimbursement of ground rents, where applicable), 

or otherwise have been recorded in accordance with IFRS as consistently applied by the Telxius Group. 

To the extent certain revenues are paid or payable on an other-than-monthly basis, such revenues for the month of the relevant date of
the Management Accounts include an apportioned amount of the revenues corresponding to such month. 
  

	 	(xvii)	 The copies of the Chilean Facilities contained in the Data Room are complete and accurate copies of the originals. The
Chilean Facilities are in full force and effect, and are legal, valid, binding and enforceable on the parties thereto, and neither the Seller nor Towers Chile Holding is in default under any of the Chilean Facilities. 

 

	8.2	 Obligation to compensate 

 

	 	(i)	 The Seller agrees and undertakes to compensate (indemnizar) the Buyer for any Damages that the Buyer or the
Companies incur as a result of a breach of the Specific Warranties (a “Misrepresentation”) and which is either (a) expressly accepted by the Seller or (b) in respect of which a Ruling has been rendered, which declares the
existence of the relevant Misrepresentation and determines the Damages deriving therefrom, and in any event within the limits and subject to the terms set forth in this Clause 8. 

 

	 	(ii)	 Payment of the corresponding Damages shall be made in Euros within ten Business Days following the date on which such
Damages are determined pursuant to the previous paragraph. 

  

	 	(iii)	 The payment by the Seller to the Buyer of any Damages as a result of a Misrepresentation shall be considered as a
reduction of the Price as far as legally possible. 

  
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	8.3	 Absence of any other warranty, sole and exclusive remedy and liability disclaimer 

 

	 	(i)	 The Buyer acknowledges and agrees that the Specific Warranties are the only warranties provided by the Seller
regarding the Shares, the Companies and the Business and therefore, the Seller does not give, either expressly or impliedly, any warranties in relation to the Shares, the Companies or the Business, other than the Specific Warranties and shall
not be liable, in any manner whatsoever, for any liabilities, obligations, contingencies, or concealed defects of any kind existing in the Shares, the Companies or the Business, save as otherwise agreed in this Agreement. 

 

	 	(ii)	 The Buyer recognizes and accepts that it has not entered into this Agreement trusting any representation, warranty,
commitment or obligation to indemnify, either express or implied, of any kind, either of the Seller or of its advisors, of the Companies or of any other third party, other than the Specific Warranties. 

 

	 	(iii)	 The Buyer expressly acknowledges and accepts that the sole remedy to which it shall be entitled in the event of a
Misrepresentation shall be the appropriate indemnification of the Damages, and the Buyer expressly waives any other right to which it may be entitled, including the right to terminate this Agreement. 

 

	 	(iv)	 In particular, the Buyer expressly acknowledges and accepts that the rights and remedies contemplated in this
Agreement in the event of a Misrepresentation replace in their entirety the provisions addressing liability of a seller of shares with respect to obligations under purchase and sale set forth in the Spanish Civil Code and in the Spanish Commercial
Code, including, in particular, the rights and remedies available to a purchaser in the event of an ejectment of title (evicción) and hidden defects (vicios ocultos). 

 

	 	(v)	 Without limiting the generality of the foregoing, the Buyer waives any rights to challenge the validity of the
limitations of liability for Specific Warranties set forth in this Agreement and any non-contractual liability (responsabilidad extracontractual) arising out of or in connection with this Agreement.

  

	8.4	 Buyer’s actual or constructive knowledge 

 

	 	(i)	 The Seller shall not be liable for any Misrepresentation to the extent that the facts, matters or circumstances giving
rise to such Misrepresentation were fairly disclosed to the Buyer. 

  

	 	(ii)	 The Buyer represents that it is not aware of any inaccuracy of the Specific Warranties or any other fact or
circumstance which could entitle it to serve a Claim Notification against the Seller under this Agreement immediately upon its execution. The above shall be without prejudice to the right of the Buyer to serve a Claim Notification against the Seller
under this Agreement should it become aware of any inaccuracy of the Specific Warranties or any other 

  
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fact or circumstance that so entitles the Buyer following the date of this Agreement. 

  

	8.5	 Time limitation 

  

	 	(i)	 The Seller shall not be liable for Damages for Misrepresentations unless the Claim Notification is given by the Buyer
to the Seller in accordance with this Agreement within twelve months following the Closing Date, except for claims related to Specific Warranties (i) to (v) of Clause 8.1 above, in which case the Buyer may bring a claim against the Seller at
any time until the expiry of the applicable statute of limitations (periodo de prescripción legal). 

  

	 	(ii)	 Therefore, the Seller will not be obliged to indemnify the Buyer for claims made by the Buyer for Misrepresentations
once such terms have expired, unless a claim is already in process. Therefore, any valid claim made within the abovementioned periods, as applicable, will entail the extension of the abovementioned term of indemnification for such claim until its
full settlement according to this Agreement. 

  

	8.6	 De minimis and Overall Deductible 

 

	 	(i)	 The Seller shall not be liable for any individual claim for Misrepresentations (or a series of claims arising from
substantially identical facts or circumstances) where the Damages agreed or determined for any such claim or series of claims does not exceed the Individual Deductible. Where the Damages agreed or determined in respect of any such claim or series of
claims exceeds the Individual Deductible, such claim or series of claims shall be considered from the first euro and not just the amount in excess of the Individual Deductible. 

Nevertheless, in the event of a claim for a Misrepresentation in relation to the Specific Warranties 8.1(xiv), 8.1(xv) and 8.1(xvi),
the liability of the Seller shall not be subject to the Individual Deductible. 
  

	 	(ii)	 The Seller shall not be liable for any claim for Misrepresentations unless the aggregate amount of all such claims for
which the Seller would otherwise be liable exceeds the Overall Deductible. Where the liability agreed or determined in respect of all such claims exceeds the Overall Deductible, the liability of the Seller shall be limited to the Damages in excess
of the Overall Deductible. 

  

	8.7	 Maximum liability 

The maximum aggregate liability of the Seller for Damages for Misrepresentations shall be: 

 

	 	(i)	 with respect to Damages for breaches of the Specific Warranties (i) to (v) of Clause 8.1 above, the Price
corresponding to the Company to which the relevant breach relates to; and 

  
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	 	(ii)	 €80,000,000 with respect to Damages for breaches of the other
Specific Warranties of Clause 8.1 above; 

 provided that in no circumstances the maximum aggregate liability of the
Seller under this Agreement for all concepts shall exceed the Price. 
  

	8.8	 Other limitations on Seller’s liability for Specific Warranties 

Without prejudice that no limitation on liability set out in this Agreement shall apply where there has been wilful misconduct
(dolo), the Seller shall not be liable for Damages for Misrepresentations (nor for the amount of the Damages increased) if the Misrepresentation has arisen as a result of or in connection with: 

 

	 	(i)	 Any act, omission or transaction of the Buyer or any of its Affiliates after the date of this Agreement (or of any of
the Companies after the Closing Date) done, committed or effected other than in order to comply with applicable law or pursuant to a legally binding commitment to which the Companies are subject on or before the Closing Date; 

 

	 	(ii)	 Any matter fairly disclosed in this Agreement, including its Schedules; 

 

	 	(iii)	 Any matter specifically covered by a provision or reserve included in the accounts of the relevant Company as of
30 September 2020; 

  

	 	(iv)	 Any matter or action permitted, done or omitted to be done pursuant to and in compliance with this Agreement or
otherwise at the request or with the approval of the Buyer if request for approval was made in good faith; 

  

	 	(v)	 The passing of, or any change in, after the Closing Date, any applicable law or administrative practice of any
government, governmental department, agency or regulatory body including (without prejudice to the generality of the foregoing) any increase in the Tax rates or any imposition of Tax or any withdrawal of relief from Tax not actually (or
prospectively) in effect at the Closing Date; 

  

	 	(vi)	 Any change after the Closing Date of any generally accepted accounting principles, procedure or practice; or

  

	 	(vii)	 Any change in accounting or Tax policy, bases or practice of the Companies introduced or having effect after the
Closing Date (or after the date of this Agreement if such change is fairly required by the statutory auditor or required to comply with any applicable law). 

  

	8.9	 Contingent claims or liabilities 

The Seller shall not be liable in respect of any liability which is contingent unless and until such contingent liability becomes an
actual liability and is due and payable. This provision shall not operate to avoid a claim for Misrepresentations made in respect of a contingent liability within the time limit specified in Clause 8.5 above. 

  
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	8.10	 Net financial benefit 

To the extent the Buyer or any of its Affiliates (or the Companies as from the Closing Date) have effectively received any savings or
net quantifiable benefit arising directly from certain Damages or the facts giving rise to such Damages (for example, where the amount, if any, by which any Tax for which the Buyer, any of its Affiliates or the Companies – as from the Closing
Date – would otherwise have been accountable or liable to be assessed is actually reduced or extinguished as a direct result of the matter giving rise to such liability), the Seller shall only be obliged to indemnify for Misrepresentation in an
amount equivalent to the Damages less the amount of the relevant savings or net quantifiable benefit. 
  

	8.11	 Recovery from insurers and third parties 

The Seller shall not be liable for Damages for Misrepresentations to the extent such Damages are effectively recovered and reimbursed to
the Buyer by an insurance policy or any other third party. For the purposes of this Clause, Damages shall be limited to the insurance proceeds effectively recovered by the Buyer, thus excluding any direct expenses, borne by the Buyer in order to
effectively recover such amount. 
 If the Buyer or any of its Affiliates (including any of the Companies) is entitled to recover
(whether by payment, discount, credit, relief, insurance or otherwise) from an insurer or any other third party a sum which indemnifies or compensates the Buyer or any of the Companies (in whole or in part) for the Damages or liability which is the
subject matter of the claim, the Buyer shall procure that best endeavours are used and all reasonable steps are taken to enforce the recovery against the insurer and/or third party and any actual recovery (less any reasonable costs, Taxes and
expenses incurred in obtaining such recovery) shall reduce or satisfy, as the case may be, such claim to the extent of such recovery. 

If the Seller has paid any amount in discharge of any such claim and subsequently the Buyer or any of its Affiliates (including any of
the Companies) recovers (whether by payment, discount, credit, relief, insurance or otherwise) from an insurer or third party a sum which indemnifies or compensates the Buyer or any of the Companies (in whole or in part) for such Damages or
liability, the Buyer shall, and shall procure that the relevant Company shall, pay to the Seller as soon as practicable after receipt an amount equal to (i) any sum recovered from the insurer and/or third party less any reasonable costs, Taxes
and expenses incurred in obtaining such recovery, or if less (ii) the amount previously paid by the Seller to the Buyer. Any payment made by the Buyer or any of the Companies to the Seller under this Clause shall be made by way of further
adjustment of the Price paid by the Buyer for the Shares to the extent possible in accordance with applicable accounting rules (IFRS). 
  

	8.12	 Forecasts and projections 

The Buyer expressly acknowledges and agrees that the Seller does not give or make any warranty or representation as to the accuracy of
the forecasts, estimates, projections, statements of intent or statements of opinion provided to the Buyer or 

  
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any of its directors, officers, employees, agents or advisors on or prior to the date of this Agreement, including those recorded in Data Room USBs, if any. 

 

	8.13	 Mitigation of Damages 

The Buyer shall use best endeavours and take all reasonable steps and give all reasonable assistance to avoid or mitigate any Damages
for Misrepresentations, which, in the absence of mitigation might give rise to or increase the Seller’s liability pursuant to this Agreement. However, nothing in this Clause 8.13 shall limit the Buyer or the Buyer’s Group from taking any
action to comply with applicable law or any contractual obligation. 
  

	8.14	 Claims procedure 

  

	 	8.14.1	   Notice 

The Buyer shall notify the Seller, in writing and in any event within the time limits set forth in Clause 8.5 above, of any circumstance
which may give rise to an indemnification for Misrepresentation as soon as possible and, in any event, within fifteen Business Days of its discovery, describing in reasonable detail its claim, setting out such information as is available to the
Buyer or the Companies as is reasonably necessary to enable the Seller to assess the merits of the claim and mentioning the amount of the Damages sought or the specific criteria for determining the same (the “Claim Notification”).

  

	 	8.14.2  	 Investigation by the Seller 

In connection with any matter or circumstance that may give rise to a Claim Notification: 

 

	 	(i)	 The Buyer shall allow, and shall procure that the Companies allow, the Seller to investigate the matter or
circumstance alleged to give rise to the Claim Notification and whether and to what extent any amount is payable in respect of such Claim Notification; and 

  

	 	(ii)	 The Buyer shall disclose to the Seller all material of which the Buyer is aware which relates to the Claim
Notification and shall, and shall procure that the Companies, give all such reasonable information and assistance, including access to premises and personnel, provided that all information made available to the Seller under this Clause shall be
treated as Confidential Information. 

  

	 	8.14.3  	 Negotiation between the Parties 

The Seller and the Buyer shall negotiate in good faith during a period of one month from the date of receipt of the Claim Notification
in an attempt to reach an agreement with respect to: 
  

	 	(i)	 The existence of liability for breach of the Specific Warranties, and 

  
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	 	(ii)	 The amount of the Damages to be paid, where applicable, as a result of said liability. 

In the event that an agreement is not reached by the Parties, the Seller shall notify the Buyer in writing within five Business Days
after the end of the negotiation period whether it rejects or accepts its liability and, in the latter case, the amount which it recognizes that must be paid. If the Seller does not give said notification, it shall be deemed to have rejected the
Claim Notification in its entirety. 
 In the event that the Seller recognizes liability in whole or in part, it shall pay the amount
which it would have accepted within the period set forth in Clause 8.2 above, without prejudice to the Buyer’s right to demand the balance of its claim. 

Any Claim Notification shall (if it has not been previously satisfied, settled or withdrawn) be deemed to be irrevocably withdrawn six
months after the notice is given, unless at the relevant time legal proceedings in respect of the claim have been commenced by being both issued and served. 
  

	 	8.14.4	   Third Party Claims 

In the event that a third party (including any authority) makes a claim against the Companies or the Buyer which could give rise to an
indemnification pursuant to this Clause 8 (a “Third Party Claim”), the Buyer expressly recognizes the Seller’s right to defend said Third Party Claim. 

Where this occurs, the following procedure shall apply: 
  

	 	(i)	 As soon as it becomes aware of the Third Party Claim, and in any event before a third of the time laid down for
replying thereto has elapsed, the Buyer shall notify, or cause the Companies to notify, the Seller of the existence of said claim. 

  

	 	(ii)	 In addition, the Buyer shall notify, or cause the Companies to notify, the Seller within a reasonable time of the
commencement of inspection activities which could give rise to an indemnification pursuant to this Clause 8, the Buyer giving the Seller the opportunity to jointly participate in the inspection procedure. 

 

	 	(iii)	 Provided that it has previously accepted in writing its liability in respect of Third Party Claims (but without
prejudice to facts or circumstances not known at such time that could limit the liability of the Seller), the Seller shall have the right to carry on or handle the defence of Third Party Claims at its own expense, by providing a notice in writing to
the Buyer within ten Business Days after receipt of the Notice of Third Party Claim (and in any event, not later than the end of the first half of the term available for replying to or answering the Third Party Claim). Such right of defence includes
taking such action as it shall deem necessary to avoid, dispute, deny, defend, resist, appeal, compromise or contest the Third Party Claim (including making counterclaims or other claims against third parties) and to have the conduct of any related
proceedings, negotiations or appeals, through all appropriate 

  
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procedures. If the Seller has not previously accepted in writing its liability, the defence shall be assumed by the Buyer, acting in good faith and making its best efforts to limit the Damages as
far as possible. 

  

	 	(iv)	 As an exception to the above, in the event the Third Party Claim may have material reputational or future negative
implications for the Buyer and its group, the Buyer shall be entitled, at its absolute discretion, to undertake the defence of such Third Party Claim jointly with the Seller (in the event the Seller is willing to assume the defence). To that
purpose, each Party shall nominate a representative who, acting jointly, will manage all negotiations and correspondence with the claimant in good faith, trying to minimize the Damages as well as the reputation or future negative implications for
the Buyer and its group. If the Parties, acting in good faith, are unable to reach a joint position, the reasonable criteria of the Seller shall prevail, unless the Buyer waives its right to Damages for such Third Party Claim, in which case the
Buyer will be entitled to defend the Third Party Claim alone. 

  

	 	(v)	 In particular, the Seller may, in good faith and in view of minimising the potential liability, participate in and
manage all negotiations and correspondence with the claimant or the inspection authorities, appoint a lawyer and court procedural representative. In this connection, the Buyer undertakes: (a) to perform the necessary formalities to ensure that
the Companies affected grant sufficient powers of attorney to the Seller or the persons designated by it; (b) to provide the Seller with the information and documents necessary for the defence until the claim is definitively resolved;
(c) to cooperate in good faith with the Seller in all aspects relating to the defence until the claim is definitively resolved; (d) not to take any measure with respect to the claim that could be in conflict with the defence assumed by the
Seller or be detrimental to same, until the claim is definitively resolved; and (e) to adopt the measures reasonably requested by the Seller in relation to the defence until the claim is definitively resolved. 

 

	 	(vi)	 The Buyer shall cooperate in good faith with the defence of the Third Party Claim and shall ensure that the Companies
cooperate, allow the Seller to have access to the relevant commercial registers and documents and allow the Seller and its advisors to consult their employees and the advisors of the Companies. 

 

	 	(vii)	 The Seller shall keep the Buyer promptly informed of the progress of any such Third Party Claims for which it has
assumed their defence, promptly make available to the non-defending Party all notices, communications and filings in respect of such Third Party Claim and in any event with sufficient time so as to allow the
Buyer to meaningfully review and comment on all documentation prior to the filing thereof with the applicable court, arbitration panel or other body. The Seller shall consider in good faith and, when reasonable or advisable, implement such comments
or other consideration. Also, the Seller shall allow one or more individuals designated by the Buyer to attend and participate in all meetings and hearings in respect of such Third Party Claim to the extent not prohibited by applicable Law.

  
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	 	(viii)	 While the Seller is handling in good faith the defence of any Third Party Claim, the Buyer shall not settle or allow
the Companies to settle the same. Furthermore, the right of the Buyer to be indemnified shall not be enforceable unless there is a Ruling with respect to the Third Party Claim. 

 

	 	(ix) 	 The Seller may only settle the claim or reach an agreement with the third party after a good faith consultation with
the Buyer and provided that, prior to, or at the same time, it makes available to the Buyer or the Companies, as appropriate, any indemnification which may be payable under this Clause 8. 

 

	 	(x) 	 In the event that the Seller notifies the Buyer that it is not going to assume the defence of the Third Party Claim or
does not respond within the abovementioned period provided, the Buyer shall assume, or shall cause the Companies to assume, the defence of the Third Party Claim in good faith, making its best efforts to limit the Damages as far as possible. In any
case, the Buyer may only allow the Companies to accept any liability in relation to such claim, or reach any settlement agreement after good faith consultation with the Seller and provided that if the Seller does not agree, the Seller shall have the
right to take over from that moment the defence of the Third Party Claim. Nevertheless, any voluntary regularization by the Companies and the signature of any assessments on an uncontested basis, as the case may be, shall require the prior written
consent of the Seller, not to be unreasonably withheld. 

  

	 	(xi) 	 In the event the Buyer or the Companies undertake the defence of the Third Party Claim, all costs incurred in
defending it (if the Seller finally becomes obliged to indemnify the Buyer under the terms of this Agreement, and to the extent reasonably incurred and properly documented) shall be included within the calculation of the Damages.

  

	 	8.14.5	   Other breaches 

For the avoidance of doubt, the Parties declare that nothing in this Clause 8 shall limit their ability to claim damages and losses
(daños y perjuicios) determined in accordance with the Spanish Civil Code (Código Civil) in the event of a breach by the other Party to fulfil its undertakings provided throughout in this Agreement (other than for
Specific Warranties), provided that in no circumstances the maximum aggregate liability of the Seller under this Agreement for all concepts shall exceed the Price. 
  

	9.	 TERMINATION 

  

	9.1	 Causes of termination 

This Agreement may only be terminated (resuelto) prior to the Closing, by the following Party in the following events. 

For the avoidance of doubt, no Party shall have the right to terminate this Agreement: 

  
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	 	(i)	 Following the Closing; or 

  

	 	(ii)	 Prior to Closing, other than as a result of the termination events specifically set forth below.

 9.1.1    Mutual Agreement. This Agreement may be terminated
(resuelto) upon the mutual written agreement of the Parties. If this Agreement is terminated under this Clause 9.1.1, no Party shall have any other liability or further obligation to the other Party, except as otherwise agreed between the
Parties or as provided in Clause 9.3 below. 

9.1.2    Non-satisfaction of the Antitrust Condition
Precedent by the Long Stop Date. This Agreement may be terminated (resuelto) by the Seller only, if the Conditions Precedent have not been satisfied prior to the Long Stop Date (or the Extended Long Stop Date) on the terms set forth
in Clause 4.1 for any reason non attributable to the Seller. 
 If this Agreement is terminated under this Clause 9.1.2, without
prejudice to Clause 9.3 below, the Buyer shall be obliged to pay to the Seller a lump sum in cash (the “Break-up Fee”) equal to 2.50% of the part of the price attributable to the Companies
affected by the termination. 
 The corresponding Break-up Fee shall be payable within ten
Business Days following the date on which the Termination Notice is sent by the Seller to the Buyer pursuant to Clause 9.2 below. 

For the avoidance of doubt, the right of the Seller to the Break-up Fee hereunder is absolute
and is not subject to, dependent or conditional on any negligence, delay, breach, misfeasance, nonfeasance or any condition attributable to or misconduct on the part of the Buyer, unless the non-satisfaction
of any of the Conditions Precedent results from any action, act or omission attributable to the Seller. 

9.1.3    Non-satisfaction or waiver of the
Reorganisation Condition Precedent by the Long Stop Date. This Agreement may be terminated (resuelto) by any of the Parties if the Reorganisation Condition Precedent has not been satisfied prior to the Long Stop
Date (or the extended Long Stop Date) on the terms set forth in Clause 4.1, provided that the Seller shall not be entitled to terminate this Agreement pursuant to this Clause 9.1.3 if the non-satisfaction of
the Reorganisation Condition Precedent is due to a breach of its obligations pursuant to Clause 4.1.4. 

9.1.4    Breach to perform the Closing Actions. This Agreement may be terminated
(resuelto) by the non-breaching Party in the event of a material non-compliance or material breach by the other Party to perform its Closing Actions pursuant to
Clause 6. 
 Each Party’s right to terminate this Agreement under Clauses 9.1.2, 9.1.3 and 9.1.4 above, shall not exclude the non-breaching Party’s right to claim damages and 

  
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losses (daños y perjuicios) determined in accordance with the Spanish Civil Code (Código Civil), and arising from a breach of the other Party’s obligations
hereunder. 
  

	9.2	 Procedure of termination 

Any termination by the Buyer or the Seller pursuant to Clause 9.1 shall be notified by a written notice to the other Party, which shall
indicate the termination provision in this Agreement claimed to provide a basis for termination of this Agreement (the “Termination Notice”). 

Termination of this Agreement duly effected pursuant to the terms and subject to the conditions of Clause 9.1 shall be effective upon
and as of the date of delivery of a Termination Notice, without prejudice to the right of the other Party to object to such termination pursuant to applicable law. 
  

	9.3	 Effects of termination; survival of certain Clauses 

Upon the termination of this Agreement, all rights and obligations of the Parties under this Agreement shall terminate, except that:

  

	 	(i)	 Their respective obligations under Clauses 1, 8.14, 9, 13, 14 and 15 (as well as 11 in respect of the Clauses that
remain in force), as applicable, shall remain in full force and effect in accordance with their terms; 

  

	 	(ii)	 Nothing in this Clause 9 shall relieve any Party of any liability for a breach of this Agreement prior to the
termination hereof; 

  

	 	(iii)	 As soon as practicable following such termination and, in any event within the following ten Business Days, the Buyer
(a) shall (and shall cause its Affiliates and its and their respective directors, officers, employees, representatives, agents and advisors to) destroy and procure the destruction of all originals and copies of any and all non-public information and documentation relating to the Transaction, the Business and the Companies provided to any of them in any format during the Due Diligence Process, including all documents, reports and other
information prepared by any of them which contain or reflect all or part of such information (the “Confidential Information”), and, so far as it is practicable to do so, permanently expunge and erase and procure the permanent
erasing of all electronic copies of any such Confidential Information, except to the extent that any of these obligations were contrary to any applicable law or bona fide internal compliance policies regarding retention of documents which are
applicable to the Buyer or where it is required by any court of competent jurisdiction, and backed-up data created pursuant to any routine back-up or archiving
procedure, and (b) shall provide to the Seller a certificate confirming the destruction and erasure of all the Confidential Information; and 

  

	 	(iv)	 the Parties shall not disclose (and shall procure that none of its Affiliates and none of its and their respective
directors, officers, employees, representatives, agents and advisors discloses) any part of the Confidential Information to any third party, except as required by applicable law or a court

  
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or administrative body of competent jurisdiction, nor use it for any purpose including, in particular, in respect of the Buyer, for causing any harm or seeking any competitive advantage with
respect to the Telxius Towers Latam Division. 

 The undertakings in paragraphs (iii) and (iv) of this Clause
9.3 shall remain in force and effect during a period of five years from the date on which this Agreement is terminated. 
  

	10.	 OTHER RIGHTS AND UNDERTAKINGS OF THE PARTIES 

 

	10.1	 Foregoing civil action 

Except in the event of wilful misconduct (dolo), the Buyer undertakes not to seek any liability or take or bring any action, and
to cause the Companies not to seek any liability or take or bring any action, against the officers and directors of the Companies (including, for the avoidance of doubt, the directors resigning on the Closing Date) and the officers and directors of
the Seller, by reason of their acts as such in relation to the Companies and, in particular, the individual or company action for liability provided for in articles 238 and 241 of the Spanish Companies Act (Ley de Sociedades de Capital), and
in article 367 thereof, and any similar provision in any other jurisdiction. The undertaking in this paragraph shall not prejudice, reduce or restrict the liability of the Seller hereunder. 

 

	10.2	 Undertaking to cease using the Telxius Tradenames 

 

	 	(i)	 The Buyer acknowledges that all right, title and interest in and to the Telxius Tradenames are owned exclusively by
the Seller and that any and all rights of the Companies to use the Telxius Tradenames (including as part of their corporate name) shall terminate as of the Closing Date (without prejudice of the provisions in paragraphs (ii) and (iii) below).
For the avoidance of doubt, the Buyer acknowledges that neither this Agreement nor the Transaction contemplated herein confers upon the Buyer or any of its Affiliates any rights in respect of the Telefónica tradenames and that none of the
Companies has any right in respect of such tradenames. 

  

	 	(ii)	 The Buyer shall cause the Companies to approve and implement the modification of their corporate names so that they do
not include any Telxius Tradename no later than one month after the corresponding Closing Date (except in the event a delay is due to facts or circumstances occurred before the Closing Date or due to reasons not attributable to the Buyer or the
Companies). 

  

	 	(iii)	 The Buyer shall, and shall cause the Companies to, (i) cease all use and/or display of the Telxius Tradenames and
all references to such Telxius Tradenames (in particular, but without limitation, on the Companies’ websites, on any advertising support material and correspondence) no later than two months after the Closing Date, and (ii) cease the
display of the Telxius Tradenames in all locations within four months after the 

  
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corresponding Closing Date (except in the event a delay is due to reasons not attributable to the Buyer or the Companies). 

 

	 	(iv)	 The Buyer shall deliver to the Seller, no later than ten Business Days from the date specified in paragraphs
(ii) and (iii) above (except in the event a delay is due to facts or circumstances occurred before the Closing Date, or due to reasons not attributable to the Buyer or the Companies), a certificate, duly signed by a duly empowered
representative of the Buyer, that the Company has ceased using the Telxius Tradenames as set forth in each such paragraph. 

  

	 	(v)	 In the event that a breach of the undertakings specified in paragraphs (ii) and (iii) above is attributable to
the Buyer or the Companies, the Buyer shall be obliged to pay the Seller a penalty of €2,000 for each day of delay. For the avoidance of doubt, any delay in implementing the change of corporate
name or in ceasing the use and/or display of the Telxius Tradenames for any reason occurred before the Closing Date or due to reasons not attributable to the Buyer or the Companies will not trigger any penalty. 

 

	10.3	 Termination of intragroup agreements and inter-company balances and services agreements 

On or before, as applicable, each Closing Date: 
  

	 	(i)	 The Seller shall cause the Companies and the relevant entities of the Telefónica Group to terminate the
corresponding Closing Terminated Agreements, and to terminate and settle any outstanding inter-company balances and arrangements resulting from such Closing Terminated Agreements, including any redemption penalties. 

 

	 	(ii)	 The Parties agree that the provision of the intragroup services to the Companies from the Closing Date shall be
governed by the existing services agreements, so that the Companies can continue to develop their business in the ordinary course in accordance with past practice. Should the provision of any of such services require third party licenses or consents
from entities not within the Telefónica Group, the Seller will make its best efforts, and the Seller shall cause the corresponding Company to make its best efforts, to obtain the necessary licenses or consents by the Closing Date. The
corresponding Company, provided that the Buyer has granted its prior written consent, such consent not to be unreasonably withheld or delayed, will bear the costs of obtaining such licenses or consents. 

To this effect, the Parties shall execute on the Closing Date the Seller Service Agreement Side Letter, substantially in the form
attached hereto as Schedule 7, and the Seller shall deliver to the Buyer the Telefónica Service Agreement Side Letter duly executed by Telefónica, S.A., substantially in the form attached hereto as Schedule 7. The Buyer
shall return to the Seller a signed copy of the Telefónica Service Agreement Side Letter on the Closing Date. 

  
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	 	(iii)	 With respect to each of the agreements, respectively, listed in Schedule 9, the Seller will make its best
efforts, and the Seller shall cause the corresponding Company to make its best efforts, to obtain a declaration of the relevant counterparty waiving any rights with respect to a change of control under the respective agreement. The corresponding
Company, provided that the Buyer has granted its prior written consent, such consent not to be unreasonably withheld or delayed, will bear the costs of obtaining such waivers. 

 

	10.4	 Undertaking to preserve employment in the Companies 

The Buyer shall cause that, during a period of one year from the Closing Date, the Companies (i) preserve the employment and the
labour terms and conditions of their employees (such as fixed and variable salary, social benefits, category, workplace, etc.) as of the Closing Date and (ii) do not reduce the workforce by carrying out individual or collective dismissals,
except for individual terminations based on disciplinary or non-performance grounds. 
  

	10.5	 No cover under the Telxius Group insurance policies from Closing 

The Buyer acknowledges and agrees that from (and including) the Closing Date: 

 

	 	(i)	 None of the Companies shall have or be entitled to the benefit of any Telxius Group insurance policy in respect of any
event, act or omission (x) takes place on or after such Closing Date, or (y) prior to such Closing Date but not notified to the relevant insurer before the Closing Date (except as regards the coverage for property damage and loss of profit
and the general liability coverage, where the notification can be done until 30 days following the Closing Date); and it shall be the sole responsibility of the Buyer to ensure that adequate insurances are put in place for such Companies with effect
from (and including) the Closing Date; and 

  

	 	(ii)	 Neither the Seller nor any of its Affiliates shall be required to maintain any insurance policy for the benefit of any
of the Companies. 

 To such end, as from the date of this Agreement, the Seller shall, and shall procure that the
Companies shall, provide the Buyer with all information, assistance (including assistance from employees of the Seller, the Companies and access to (including the ability to take copies of) books and records of account, documents, files, working
papers and information in relation to the insurance policies replacement which it may reasonably require for the purposes of this Clause. 
  

	10.6	 Access to information after the Closing Date 

After the Closing Date and until the fourth anniversary thereof, upon reasonable written notice from the Seller, the Buyer will (or will
cause the Companies to), subject to applicable law, furnish access to the Seller or any Seller ́s Affiliate and their respective advisors, counsel, accountants and representatives during normal business hours to such historic information, books
and records and documentation 

  
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relating to the Companies prior to the Closing Date as may be reasonably necessary for regulatory, Tax, financial reporting or accounting matters. 

After the Closing Date, the Seller shall (or will cause its subsidiaries to), upon written request from the Buyer or the Companies,
supply the necessary collaboration and antecedents, documents and information which are in its power as may be reasonably necessary for regulatory, Tax, financial reporting or accounting matters. 

 

	11.	 GUARANTEE OF BUYER’S OBLIGATIONS 

 

	11.1	 Unconditional Guarantee 

In consideration of the Seller entering into this Agreement, if the Buyer assigns all or part of its rights and obligations under this
Agreement to one or more of its Affiliates, the Guarantor hereby unconditionally and irrevocably guarantees joint and severally (solidariamente) to the Seller the due and punctual performance and observance by the Buyer and the Affiliates to
which the Buyer has transferred its rights and obligations hereunder, of all its obligations, commitments, undertakings, warranties and indemnities under or pursuant to this Agreement (the “Buyer Guaranteed Obligations”), expressly
renouncing to the benefits of order, division and exclusion (beneficios de orden, división y excusión) in accordance with Sections 1,830 et seq. of the Spanish Civil Code. The liability of the Guarantor under this Clause
11.1 shall not be released or diminished by any variation of the terms of the Buyer Guaranteed Obligations, or any forbearance, neglect or delay in seeking performance of the Buyer Guaranteed Obligations or any granting of time for such performance.

  

	11.2	 Buyer Default 

If and whenever the Buyer (or any of its Affiliates to which the Buyer has transferred any of its rights and obligations hereunder)
defaults in the performance of any of the Buyer Guaranteed Obligations, the Guarantor shall, upon written demand by the Seller (which shall clearly specify the Buyer Guaranteed Obligations defaulted and on what grounds), forthwith unconditionally
perform (or procure the performance of) and satisfy (or procure the satisfaction of) the Buyer Guaranteed Obligations in regard to which such default has been made in the manner prescribed by this Agreement and so that the same benefits shall be
conferred on the Seller as it would have received if the relevant Buyer Guaranteed Obligations had been duly performed and satisfied by the Buyer. 
  

	11.3	 Continuing Guarantee 

This guarantee is to be a continuing guarantee and accordingly is to remain in force until all the Buyer Guaranteed Obligations shall
have been performed or satisfied. This guarantee is in addition to and without prejudice to and not in substitution for any rights or security which the Seller may now or hereafter have or hold for the performance and observance of the Buyer
Guaranteed Obligations. 

  
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	11.4	 Legal Limitations, etc. 

As a separate and independent stipulation, the Guarantor agrees that any of the Buyer Guaranteed Obligations (including, without
limitation, any monies payable) which may not be enforceable against or recoverable from the Buyer by reason of any legal limitation, disability or incapacity on or of the Buyer (or any of its Affiliates to which the Buyer has transferred any of its
rights and obligations hereunder) or any other fact or circumstance (other than any limitation imposed by this Agreement) shall nevertheless be enforceable against and recoverable from the Guarantor as though the same had been incurred by the
Guarantor and the Guarantor were the sole or principal obligor in respect thereof and shall be performed or paid by the Guarantor on demand. 
  

	12.	 ASSIGNMENT 

This Agreement and the rights and obligations hereunder shall not be assignable, delegable or otherwise transferable by any Party without the prior
written consent of the other Parties. As an exception, (i) the Seller may assign, without the Buyer’s consent, all or part of its rights under this Agreement to any of its direct or indirect shareholders; and (ii) the Buyer may
assign, without the Seller’s consent, all or part of its rights or obligations under this Agreement to one or more of its Affiliates, provided that, if the Buyer were to do so, the Buyer will assume the contractual position of the Buyer’s
Guarantor under the terms of this Agreement. 
 Any attempted assignment in violation of this Clause 12 shall be null and void. 

 

	13.	 DUTY OF CONFIDENTIALITY 

 

	13.1	 Extent of the duty of confidentiality 

13.1.1    Duty of confidentiality. The Parties shall keep strictly confidential any
information to which they may have access as a result of the negotiations held and of the execution and completion of the Agreement and relating to: 
  

	 	(i)	 The existence or the contents of the Agreement or of the documents to which the Agreement refers (including the Due
Diligence Process); and 

  

	 	(ii)	 The negotiations relating to the Agreement or to the documents to which reference is made in the Agreement.

 The Parties undertake to have their respective officers, employees and advisors comply with the provisions of
this Clause 13. 
 13.1.2    Exceptions to the duty of confidentiality. The Parties
may disclose information considered confidential in the following cases where: 
  

	 	(i)	 such disclosure is required by any applicable Laws, administrative or judicial order, or by the rules or regulations
of any authority to which such Party is subject, including, without limitation, any rules of stock exchanges where the 

  
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Parties or their respective ultimate parent companies are listed, or to the extent necessary to the auditors of the Parties in the performance of their duties; 

 

	 	(ii)	 the disclosure of the information is required by a court or administrative body to which one of the parties is
subject, regardless of where such court or body is located and of whether the disclosure requirement has the force of law; 

  

	 	(iii)	 the disclosure of the information, on a need to know basis, to the employees, professional advisors, shareholders,
auditors or financial or investment entities of one party, knowledge which shall all be subject to the appropriate confidentiality agreement or duty in terms equivalent to those under this Clause 13; 

 

	 	(iv)	 the disclosure of specific information regarding this Agreement, including the purchase price of the Shares is
required to comply with any accounting or financial disclosure legal provision applicable to a party; 

  

	 	(v)	 the other party has given its prior written consent to disclose the information; 

 

	 	(vi)	 the disclosure of the information is necessary for a party to be able to enforce the rights to which it is hereby
entitled; or 

  

	 	(vii)	 the disclosed information becomes part of the public domain through no fault of the Party making such disclosure.

 13.1.3    Press releases and announcement. The Parties shall send
any draft press release or public statement with respect to the Transactions that each of them intend to make public to the other Party for review and comment before they are published, provided, however, that nothing herein shall prohibit any Party
from making any disclosure as may be required by (i) applicable law or (ii) any securities exchange, regulatory body or governmental authority, in which case the Party making the announcement shall, to the extent possible, inform the other
Party and consider any reasonable comments that are considered appropriate by the non-disclosing Party, with a view of taking all reasonable steps to agree the contents thereof with the other Party before
making the announcement. Notwithstanding the above, the final opinion of the disclosing Party shall prevail. 
  

	13.2	 Time limit 

The duty of confidentiality established in this Clause 13 shall apply from the date of this Agreement until the third anniversary of the
Closing Date. 

  
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	14.	 MISCELLANEOUS 

  

	14.1	 Entire Agreement 

This Agreement supersedes all other agreements or contracts, written or oral, concluded between the Parties prior to the execution of
this Agreement in relation to the object hereof, and which shall be rendered null and void from this date. 
  

	14.2	 Further assurance 

Each of the Parties shall, and shall use reasonable endeavours to procure that any necessary third party shall, from time to time,
execute such documents and perform such acts and things as either of them may reasonably require to give effect to this Agreement. 
  

	14.3	 Amendments 

Any amendment to the Agreement that is not set forth in writing and is not formalized by the Parties in the same manner as the Agreement
shall be null and void. 
  

	14.4	 Partial invalidity 

Any finding by a court or administrative body that one or more Clauses of the Agreement are unlawful, null and void, invalid or
unenforceable, in whole or in part, shall not render unlawful, null and void, invalid or unenforceable the other Clauses or the remaining parts thereof, which shall remain fully valid wherever applicable, all the foregoing, provided that the
Clauses, or part thereof, found to be unlawful, null and void, invalid or unenforceable are not essential, in which case the Parties shall negotiate in good faith the necessary amendments to the Agreement, failing which the Agreement shall be
automatically terminated. 
 The Clauses or parts thereof found to be unlawful, null and void, invalid or unenforceable shall be
deemed to have been removed from the Agreement or not applicable in that circumstance, as the case may be, and the parties shall negotiate in good faith the substitution thereof and the measures that are most suited to the aim pursued by such
clauses or parts thereof. 
  

	14.5	 Waiver of defences 

14.5.1    Waiver to seek performance of any obligation. A waiver by one of the Parties
to seek performance of any of the obligations provided for in the Agreement or to exercise or seek any of the rights or remedies to which it is hereby entitled: 
  

	 	(i)	 shall not release the other Party from the obligation to fully perform the other obligations contained in the
Agreement; and 

  

	 	(ii)	 shall not be deemed a waiver of the right to seek performance in the future of an obligation or to exercise or seek
any rights or remedies provided for in the Agreement. 

  
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 14.5.2    Dispensation or deferral. The
dispensation, deferral or waiver of any of the rights established in the Agreement, or of a part of such rights: 
  

	 	(i)	 Shall only be binding if stated in writing; 

 

	 	(ii)	 May be made subject to such conditions as the party granting such dispensation, deferral or waiver sees fit;

  

	 	(iii)	 Shall be limited to the specific case in which it occurred; and 

 

	 	(iv)	 Shall not affect the enforceability in other cases of the right affected by it, nor the enforceability of any other
right existing in relation to the parties. 

  

	14.6	 Expenses and Taxes 

14.6.1    Notary’s fees. The Buyer shall bear the Notary’s fees incurred upon
notarization of this Agreement and upon transfer of the Shares and execution of the Closing Actions. 

14.6.2    Expenses. Unless otherwise expressly set forth in this Agreement, each Party
shall bear the costs that it incurs in preparing, negotiating and perfecting the Agreement. 

14.6.3    Taxes. Any Taxes levied on the transactions provided for in the Agreement
shall be borne by the Parties as provided for by the applicable law. In particular, to the extent there is any direct or indirect Tax payable by the Seller or any of the Companies arising from or due to the execution of this Transaction, the
Reorganisation or the transfer of the Minority Argentinian Stake according to applicable laws, the Seller undertakes to keep the Buyer and the Companies indemnified and harmless from the Seller’s non fulfilment of such obligations. 

 

	14.7	 Notices between the Parties 

Any notices and communications that may or must be made by and between the Parties in relation to this Agreement shall be served in
writing by any means that provides duly authenticated proof of the contents and the date on which the notice was sent to the addressees at the addresses indicated below. The Parties expressly accept communications by
e-mail. Notices shall be deemed made on the date they are sent. 
 Notices must be delivered
to the persons and at the addresses set forth below: 
 Telxius Telecom, S.A. 

Attention: General Counsel 

Address: Edificio Norte 2, 1a planta, Ronda de la Comunicación s/n, 

28050 Madrid, Spain 

Email: secretaria.general.telxius@telxius.com 

With copy to: 

  
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 Telefónica, S.A. 

Attention: General Counsel 

Address: Ronda de la Comunicación, Edificio Central, Planta 1a, s/n, 

28050 Madrid, Spain 

Email: secretaria.general@telefonica.com 

With copy to: 

Attention: Fernando Vives / Álvaro López-Jorrín 

J&A Garrigues, S.L.P. 

Address: Calle Hermosilla, 3, 28001 Madrid, Spain 

Email: fernando.vives@garrigues.com; 

alvaro.lopez-jorrin@garrigues.com 

Notices to the Buyer: 

Attention: Ruth Dowling and Michael Hart 

American Tower International, Inc. 

116 Huntington Avenue, Boston 

Massachusetts, 02116, United States 

E-mail: ruth.dowling@AmericanTower.com & 

Michael.Q.Hart@americantower.com 

With copy to: 

Attention: Fernando Torrente 

Allen & Overy 

Serrano 73 
 28006
Madrid, Spain 
 E-mail: Fernando.Torrente@AllenOvery.com 

Notices to the Guarantor: 

Attention: Ruth Dowling and Michael Hart 

American Tower International, Inc. 

116 Huntington Avenue, Boston 

Massachusetts, 02116, United States 

E-mail: ruth.dowling@AmericanTower.com & 

Michael.Q.Hart@americantower.com 

  
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 With copy to: 

Attention: Fernando Torrente 

Allen & Overy 

Serrano 73 
 28006
Madrid, Spain 
 E-mail: Fernando.Torrente@AllenOvery.com 

 

	14.8	 Payment in full and by wire transfer 

All payments provided for in this Agreement must be made in full and without being reduced by reason of any deduction, set-off, withholding, set-off, retention or counterclaim, except for any required deductions or withholdings provided for by the applicable law, or as allowed or contemplated
by this Agreement. 
 Unless otherwise expressly indicated in this Agreement, all payments provided for in this Agreement shall be
made by the relevant Party by electronic bank transfer of immediately available funds with value date on the payment date - net of any charge or commission- directly to the bank account designated by the recipient Party, using the Target2
“OMF” (orden de movimiento de fondos) system. The Party making the payment shall promptly provide to the recipient Party a swift message confirmation issued by the ordering bank. 

 

	14.9	 Counterparts 

This Agreement may be executed in any number of counterparts, and by each Party on separate counterparts. Each counterpart is an
original, but all counterparts shall together constitute one and the same instrument. Delivery of a counterpart of this Agreement by e-mail attachment shall be an effective way of delivery. 

 

	14.10	 Personal data of the legal representatives of the Parties 

Personal data of the legal representatives of the Parties of this Agreement, as well as any other personal data in connection with which
the receiving Party becomes the data controller, will be processed by the other Party to carry out, manage and monitor the contractual relationship and to comply with their legal obligations. The processing of these data is required and the legal
bases of this processing are (i) the execution and development of the contractual relationship, (ii) the legitimate interest to process personal data in order to manage and execute the contractual relationship, and (iii) to comply
with legal duties. 
 Personal data will be processed whilst the Agreement is in force and, after this, for six years, or,
exceptionally, for the period during which any kind of liability may arise from a legal or contractual obligation applicable to the Parties. 

With regard to the processing for which each of the Parties is responsible, the data subjects may exercise their right of access, rights
to rectification, erasure, 

  
 - 68 - 

 
objection, data portability, restriction of processing and any other right recognized by the applicable regulations from time to time, by sending a notice of request in accordance with Clause
14.7, attaching a copy of the identity card or any other document that proves identity. Data subjects may file any claim or request related to their data protection rights with the relevant Spanish data protection authority. 

Before either Party discloses to the other any personal data of third parties, the disclosing Party must previously inform the data
subjects of the content of the preceding paragraphs and comply with any other mandatory requirements that may be applicable for the lawful disclosure of the data to the receiving Party, so that the latter is not obliged to carry out any additional
act vis-à-vis the data subjects. 
  

	15.	 CHOICE OF LAW AND ARBITRATION 

 

	15.1	 Choice of Law 

This Agreement, all matters arising out of or relating to it and all of the transactions contemplated hereby, including their validity,
interpretation, construction, performance and enforcement and any disputes or controversies arising therefrom or related thereto, shall be governed by the laws of Spain as applicable in its common civil territory, without giving effect to any choice
or conflict of law provision or rule (whether of Spain or any other jurisdiction) that would cause the application of laws of any other jurisdiction. 
  

	15.2	 Arbitration 

All disputes arising out of or in connection with the present Agreement shall be finally settled under the Rules of Arbitration of the
International Chamber of Commerce by three arbitrators appointed in accordance with the said Rules. 
 The seat of the arbitration
shall be Madrid. 
 The arbitration will be conducted in English. However, documents drafted in Spanish will not need to be translated
to be incorporated to the proceedings. 
 [SIGNATURE PAGE FOLLOWS] 

  
 - 69 - 

 The Seller 
 /s/
JOSÉ MANUEL SANTERO MUÑOZ           

Telxius Telecom, S.A. 
 Mr. José Manuel Santero Muñoz 

The Buyer 
 /s/ EDMUND
DISANTO                                    
 
 American Tower International, Inc 

Mr. Edmund DiSanto 
 The Guarantor 

/s/ EDMUND
DISANTO                                    
 
 American Tower International, Inc 

Mr. Edmund DiSanto 

  
 - 70 -HTML

 Exhibit 10.43 

BANK OF AMERICA, N.A. 

BofA SECURITIES, INC. 
 One
Bryant Park 
 New York, New York 10036 

PERSONAL AND CONFIDENTIAL 
 January 13, 2021 

American Tower Corporation 
 116
Huntington Avenue, 11th Floor 
 Boston, MA 02116 

Attention: Rodney M. Smith, Executive Vice President, Chief Financial Officer and Treasurer 

Project Scala 

Commitment Letter 
 Ladies
and Gentlemen: 
 American Tower Corporation, a Delaware corporation (the “Borrower” or “you”), has
informed Bank of America, N.A. (“BANA”) and BofA Securities, Inc. (or any of its designated affiliates, “BofA Securities” and, together with BANA, “Bank of America”) that the Borrower intends,
directly or through certain subsidiaries, to acquire a portfolio of wireless communications towers and related assets (the “Acquired Assets”) from an entity previously identified to us and codenamed “Scala” (the
“Seller”) pursuant to that certain Agreement for the Sale and Purchase of the Towers Latam Division of Telxius Telecom, S.A. to be entered into among the Borrower’s wholly owned subsidiary American Tower International Inc. (the
“Buyer”) and the Seller (together with the exhibits and schedules thereto, the “Latam Acquisition Agreement”) and that certain Agreement for the Sale and Purchase of the Towers Europe Division of Telxius Telecom,
S.A. to be entered into among the Buyer and the Seller (together with the exhibits and schedules thereto, the “Europe Acquisition Agreement” and, together with the Latam Acquisition Agreement, the “Acquisition
Agreements”) for consideration consisting of cash in an amount not to exceed €7.5 billion. The portion of the Acquisition to be consummated pursuant to the Latam Acquisition Agreement is hereinafter referred to as the
“Latam Acquisition”, and the portion of the Acquisition to be consummated pursuant to the Europe Acquisition Agreement is hereinafter referred to as the “Europe Acquisition” (the Latam Acquisition and the Europe
Acquisition, together, the “Acquisition”). Capitalized terms used and not defined in this letter (together with Annexes A and B hereto, this “Commitment Letter”) have the meanings assigned to them in Annex A hereto.
Bank of America and any other Lenders that become parties to this Commitment Letter as additional “Commitment Parties” as provided in the second paragraph of Section 1 below are referred to herein, collectively, as the
“Commitment Parties”, “we” or “us”. 
 You have informed us that a portion of the cash
consideration payable to consummate the Transactions (as defined in Annex A), is expected to be obtained from a combination of (a) cash on hand, (b) borrowings by the Borrower under the Contemplated Term Loan (as defined in Annex A), (c)
proceeds from drawings under the Existing Revolving Credit Facilities (after giving effect to the Existing Revolving Credit Facility Amendments) (each as defined in Annex A), (d) proceeds from the issuance by the Borrower of equity securities
pursuant to one or more offerings (collectively the “Equity Offering”) and/or the issuance by the Borrower of senior notes (“Notes”) pursuant to a registered public offering or Rule 144A or other private placement
(the “Notes Offering”) and (e) to the extent that some or all of the proceeds of the Contemplated 

 
Term Loan, the Existing Revolving Credit Facilities (after giving effect to the Existing Revolving Credit Facility Amendments), the Equity Offering or the Notes Offering are not available,
borrowings by the Borrower of term loans under a senior unsecured bridge facility having the terms set forth on Annex A hereto (the “Facility”), in an aggregate principal amount of up to €7.5 billion, as such amount may be
reduced prior to the final Closing Date in accordance with the “Mandatory Commitment Reduction and Prepayments” section of Annex A hereto. The portion of the Facility provided in connection with the Latam Acquisition in the aggregate
amount of €887 million is hereinafter referred to as the “Latam Subfacility” and the portion of the Facility provided in connection with the Europe Acquisition in the aggregate amount of €6.613 billion is
hereinafter referred to as the “Europe Subfacility”. 
  

	1.	 Commitments; Titles and Roles. 

In connection with the foregoing, (a) BANA is pleased to commit to provide 100% of the principal amount of the Facility, (b) BofA
Securities is pleased to confirm its agreement to act, and you hereby appoint BofA Securities to act, as sole lead arranger and lead bookrunner in connection with the Facility (in such capacities, the “Arranger”), and (c) BANA
is pleased to confirm its agreement to act, and you hereby appoint BANA to act, as sole administrative agent for the Facility, in each case on the terms and subject to the conditions set forth in this Commitment Letter and the Fee Letter (as defined
below); provided that the amount of the Facility shall be automatically reduced as provided under “Optional Commitment Reductions and Prepayments” and “Mandatory Commitment Reductions and Prepayments” in Annex A hereto.

 No other agents, co-agents, arranger, co-arranger or
bookrunners will be appointed, no other titles will be awarded, and no compensation (other than as expressly contemplated by this Commitment Letter or the Fee Letter) will be paid in connection with the Facility unless you and the Arranger shall
reasonably so agree, including in accordance with the Syndication Plan (as defined below); provided that it is understood and agreed that additional financial institutions or other entities that commit to provide a portion of the Facility may
be allocated syndication or documentation agent titles but shall not be entitled to receive lead arranger or bookrunner titles with respect to the Facility. 

The fees for, and other amounts to be paid in connection with, our commitments hereunder and our services related to the Facility are set
forth in an Arranger Fee Letter (the “Fee Letter”) being entered into by you and us on the date hereof. 
  

	2.	 Conditions Precedent. 

Each of the Commitment Parties’ commitments and agreements hereunder are subject solely to the satisfaction or waiver of the following
conditions: (a) the execution and delivery of a credit agreement (the “Credit Agreement”) and other definitive documentation for the Facility, reflecting the terms set forth or referred to in this Commitment Letter and
otherwise substantially consistent with the terms of the Borrower’s amended and restated term loan agreement dated as of December 20, 2019 among, inter alios, the Borrower, the lenders party thereto and Mizuho Bank, Ltd, as
administrative agent (as in effect on the date hereof, the “2019 Term Loan Agreement”); and (b) your having engaged one or more investment and/or commercial banks reasonably satisfactory to the Arranger (collectively, the
“Financial Institutions”) in connection with the Contemplated Term Loan, Notes Offerings and/or Equity Offerings, it being acknowledged that this condition has been satisfied as of the date hereof; and (c) the other conditions
expressly set forth in Annex B to this Commitment Letter. 
 Notwithstanding anything herein to the contrary, the terms of the Credit
Agreement will be such that they do not impair the availability of the Facility on each Closing Date if the conditions set forth above are satisfied. 

  
 2 

	3.	 Syndication. 

The Arranger reserves the right, prior to or after the Initial Closing Date to syndicate the Facility to one or more financial institutions
and/or lenders (collectively, the “Lenders”). The Arranger will, in consultation with you, lead and manage all aspects of the syndication of the Facility, including, subject to the immediately following paragraph, determinations as
to the timing of all offers to prospective Lenders, the selection of Lenders, the acceptance and final allocation of commitments, the awarding of any “agent” title or similar designation or role to any Lender and the amounts offered and
the compensation provided to each Lender from the amounts to be paid to the Arranger pursuant to the terms of this Commitment Letter and the Fee Letter. Notwithstanding the Arranger’s right to syndicate the Facility and receive commitments with
respect thereto, except as contemplated below with respect to Approved Lenders, (i) the Commitment Parties will not be relieved, released or novated from their obligations hereunder, including their obligation to fund all or any portion of
their respective commitments hereunder until the final Closing Date has occurred and (ii) unless you otherwise agree in writing, the Commitment Parties shall retain exclusive control over all rights and obligations with respect to its
commitments in respect of the Facility, including all rights with respect to consents, modifications, supplements, waivers and amendments, until the final Closing Date has occurred. It is understood and agreed that the completion of a successful
syndication of the Facility shall not be a condition to the commitments and agreements of the Arranger and the other Commitment Parties hereunder. 

From the date of this Commitment Letter to and including the date that is 30 consecutive days after the date hereof (the
“Initial Syndication Period”), decisions regarding the syndication of the Facility, including determinations as to the timing of all offers to prospective Lenders, the selection of Lenders, the acceptance and final allocation
of commitments, the awarding of any “agent” title or similar designation or role to any Lender and the amounts offered and the compensation provided to each Lender from the amounts to be paid to the Arranger pursuant to the terms of this
Commitment Letter and the Fee Letter, will be made jointly by BofA Securities and the Borrower and, except to the extent the Arranger and the Borrower otherwise agree, in accordance with the syndication plan heretofore jointly developed by such
parties (the “Syndication Plan”). Without limiting the foregoing, the Facility will be syndicated during the Initial Syndication Period only to Lenders identified in the Syndication Plan or otherwise agreed in writing prior to the
date hereof (the “Designated Lenders”). Following the Initial Syndication Period, if and for so long as a Successful Syndication (as defined in the Fee Letter) has not been achieved, decisions regarding the syndication of the
Facility shall be made by the Arranger in consultation with the Borrower and departures may be made from the Syndication Plan (including in the selection of Lenders); provided that the Facility shall not be syndicated to competitors of the
Borrower or the Seller and their respective subsidiaries and affiliates specifically identified to the Arranger in writing prior to the execution of this Commitment Letter (collectively, the “Disqualified Lenders”). The commitments
of BANA hereunder with respect to the Facility will be reduced dollar-for-dollar by the amount of each commitment for the Facility received from an Approved Lender
selected in accordance with this paragraph upon such Approved Lender becoming (i) a party to this Commitment Letter as an additional “Commitment Party” pursuant to a joinder agreement or other documentation or (ii) a party to the
definitive credit agreement establishing the Facility. For the purposes herein, “Approved Lender” shall mean each Designated Lender and any other Lender (other than a Disqualified Lender) approved by you (such approval not to be
unreasonably withheld or delayed). In connection with any commitments received from Approved Lenders selected in accordance with this paragraph, you agree, at the request of the Arranger, to enter into one or more joinder agreements providing for
such Approved Lenders to become additional Commitment Parties under this Commitment Letter and extend commitments in respect of the Facility directly to you (it being agreed that the commitments of BANA and such additional Commitment Parties will be
several and not joint, and that such joinder agreements will contain such provisions relating to titles, the allocation of any reductions in the amount of the Facility and other matters relating to the relative rights of the Arranger and such
additional Commitment Parties as the Arranger may reasonably request). You and we further agree to use commercially reasonable 

  
 3 

 
efforts to negotiate, execute and deliver such joinders as soon as practicable following the date of this Commitment Letter. Additionally, you and we further agree to use commercially reasonable
efforts to negotiate, execute and deliver the Credit Agreement as promptly as possible following a request from either you or the Arranger. 

You agree to use your commercially reasonable efforts to ensure that the Arranger’s syndication efforts benefit from your existing
relationships with banks and other financial institutions until the earlier of (x) March 15, 2021 and (y) the date that a Successful Syndication is achieved (such earlier date, the “Syndication Date”). To facilitate
an orderly and successful syndication of the Facility, you agree that, until the Syndication Date, you will ensure that there will be no competing issues, offerings, placements or arrangements of debt securities or commercial bank or other credit
facilities of the Borrower or any of its subsidiaries being issued, offered, placed or arranged (other than (i) the Facility, (ii) the Contemplated Term Loan, (iii) amendments, refinancings or renewals of the Borrower’s Existing
Revolving Credit Facilities that increase the aggregate commitments thereunder by no more than $1,550 million, (iv) the Existing Revolving Credit Facility Amendments, (v) the Notes Offering or any other debt securities issued to
refinance the Facility in whole or in part, (vi) refinancings or renewals of the 2020 Term Loan Agreement, (vii) other amendments, refinancings or renewals of indebtedness of the Borrower’s foreign subsidiaries; provided,
solely with respect to clause (vii), that (x) neither the Borrower nor any domestic subsidiary of the Borrower is a borrower or guarantor of such amended, refinanced or renewed indebtedness, and (y) such indebtedness is not
denominated in U.S. dollars or Euros (the “Foreign Refinancing Indebtedness”) and (viii) any other debt financings agreed by the Arranger and you) if such issuance, offering, placement or arrangement could reasonably be
expected to materially impair the primary syndication of the Facility, the Contemplated Term Loan, the Existing Revolving Credit Facility Amendments, the Notes Offering and/or the Equity Offering. 

The Arranger intends to commence syndication efforts promptly after the execution and delivery of this Commitment Letter. To assist the
Arranger in such syndication efforts, you agree until the Syndication Date to (a) prepare and provide, and to use commercially reasonable efforts to cause the Seller to prepare and provide (to the extent the Buyer has the ability to cause
Seller to prepare and provide under the Acquisition Agreements), information with respect to the Borrower, its subsidiaries and, to the extent consistent with the Acquisition Agreements, the Acquired Assets (other than materials the disclosure of
which would violate a confidentiality agreement binding on you or waive attorney-client privilege) in form and substance customary for transactions of this type reasonably requested by the Arranger in connection with the syndication of the Facility
and (b) cooperate, and to use commercially reasonable efforts to cause the Seller to cooperate (to the extent the Buyer has the ability to cause Seller to cooperate under the Acquisition Agreements), with the Arranger in connection with
(i) the preparation of one or more customary confidential information memoranda (collectively, the “Confidential Information Memorandum”) containing such information regarding the business, operations, assets, liabilities,
financial position, projections and prospects of the Borrower and its subsidiaries and, to the extent consistent with the Acquisition Agreements, the Acquired Assets (other than materials the disclosure of which would violate a confidentiality
agreement binding on you or waive attorney-client privilege) in form and substance customary for transactions of this type reasonably deemed necessary by the Arranger in connection with the syndication of the Facility, (ii) the presentation of
one or more customary information packages reasonably acceptable in format and content to the Arranger and the Borrower (collectively, the “Lender Presentation”) in connection with the syndication of the Facility,
(iii) meetings and other communications with prospective Lenders in connection with the syndication of the Facility (including through direct contact between senior management and representatives, with appropriate seniority and expertise, of
the Borrower and prospective Lenders and participation of such persons in meetings with prospective Lenders at reasonable times and places to be mutually agreed), and (iv) your using commercially reasonable efforts to obtain, as promptly as
practicable, an updated public corporate family rating of the Borrower from Moody’s Investor Services, Inc. (“Moody’s”), an updated public corporate credit rating of the Borrower from S&P

  
 4 

 
Global, Inc. (S&P Global Ratings) (“S&P”) and an updated public corporate rating of the Borrower from Fitch, Inc. (Fitch Ratings) (“Fitch”), taking into
account the transactions contemplated hereby (it being understood that the foregoing shall not require that the Borrower achieve any specific rating). You will be solely responsible for the contents of the information described in paragraph 2 of
Annex B hereto, the Confidential Information Memorandum and Lender Presentation (other than, in each case, any information contained therein that has been provided for inclusion therein by the Commitment Parties solely to the extent such information
relates to the Commitment Parties) and all other information, documentation or other materials delivered by the Borrower to the Arranger in connection therewith (collectively, the “Information”), and acknowledge that the Arranger
will be using and relying upon the Information without independent verification thereof. Without limiting your obligations pursuant to this paragraph or the express conditions precedent set forth in Section 2 hereof or Annex B hereto, it is
understood and agreed that neither the obtaining of the ratings referenced above, nor any other provision of this Section 3, shall be a condition to the commitments and agreements of the Arranger and the other Commitment Parties hereunder.
In the event you do not provide information that could reasonably be considered material to the Lenders because the disclosure thereof would violate a confidentiality agreement binding on you or waive attorney-client privilege as contemplated
above, you will promptly provide notice to the Commitment Parties that such information is being withheld and, at the request of the Lenders, you shall use commercially reasonable efforts to obtain the relevant consents under such obligations of
confidentiality to permit the provision of such information or otherwise seek to disclose such information in a manner that would not result in a waiver of such attorney-client privilege. 

You agree that information regarding the Facility and the Information provided by or on behalf of the Borrower, the Seller or their respective
affiliates to the Arranger in connection with the Facility or the other transactions contemplated hereby (including draft and execution versions of the Credit Agreement, the Confidential Information Memorandum, the Lender Presentation, publicly
filed financial statements, and draft or final offering materials relating to contemporaneous securities issuances by the Borrower) may be disseminated to prospective Lenders through one or more internet sites (including an IntraLinks, SyndTrak or
other electronic workspace (the “Platform”)) created for purposes of syndicating the Facility or otherwise, in accordance with the Arranger’s standard syndication practices, and you acknowledge that neither the Arranger nor any
of their affiliates will be responsible or liable to you or any other person or entity for damages arising from the use by others of any Information or other materials obtained on the Platform except to the extent that such damages are determined by
a court of competent jurisdiction by a final and non-appealable judgment to have resulted from the bad faith, gross negligence or willful misconduct of the Arranger or any such affiliate. 

You acknowledge that certain of the Lenders may be “public side” Lenders that do not wish to receive material, non-public information within the meaning of federal, state or other applicable securities laws with respect to the Borrower, the Acquired Assets, the Seller or their respective affiliates or any securities of any
of the foregoing (such information being called “MNPI” and each such Lender being called a “Public Lender”). At the reasonable request of the Arranger, you agree to prepare, and to use your commercially reasonable
efforts to cause the Seller (to the extent the Buyer has the ability to cause Seller under the Acquisition Agreements) to assist in the preparation of, a customary additional version of the Confidential Information Memorandum and the Lender
Presentation to be used by Public Lenders that does not contain MNPI. It is understood that, in connection with your assistance described above, you will provide customary authorization letters to the Arranger authorizing the distribution of the
Confidential Information Memorandum and the Lender Presentation to prospective Lenders and containing a representation to the Arranger that such public side versions of the Confidential Information Memorandum and the Lender Presentation do not
contain MNPI. In addition, you agree, at our reasonable request, to designate all Information provided to the Arranger that is suitable to make available to Public Lenders by clearly marking the same as “PUBLIC” (it being agreed that
distribution of any Information that is not so identified may be restricted by the Arranger to Lenders that are not Public Lenders); provided that the 

  
 5 

 
Borrower has been afforded a reasonable opportunity to review such documents and comply with applicable disclosure obligations under applicable law. You acknowledge and agree that the following
documents may be distributed to Public Lenders provided that you and your counsel have been given a reasonable opportunity to review such documents: (a) drafts and final versions of the Credit Agreement, (b) administrative materials
prepared by the Arranger for prospective Lenders (such as a lender meeting invitation, allocations and funding and closing memoranda) and (c) term sheets and notification of changes in the terms and conditions of the Facility. 

 

	4.	 Information. 

You represent and warrant that (a) all Information (other than financial projections and other forward-looking statements and information
of a general economic or industry nature) provided in writing by or on behalf of the Borrower or your representatives (or, with respect to Information provided in a data room or otherwise provided after the date hereof, by or on behalf of the Seller
or its representatives) to the Commitment Parties or the Lenders in connection with the Facility or the other transactions contemplated hereunder, when taken as a whole, is and will be, when furnished, complete and correct in all material respects
and does not and will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein not misleading in light of the circumstances under which such statements were made (and
after giving effect to all supplements or updates thereto); provided that such representation with respect to any Information provided by or on behalf of the Seller or its representatives is made only to the best of your knowledge and
(b) the financial projections provided by or on behalf of the Borrower or its representatives to the Commitment Parties or the Lenders in connection with the Facility or the other transactions contemplated hereunder have been and will be
prepared in good faith based upon assumptions that are believed by the preparer thereof to be reasonable at the time of delivery of such financial projections, it being understood and agreed that financial projections are subject to significant
uncertainties and contingencies, many of which are beyond your control, that no assurance can be given that any particular financial projection will be realized, and that the financial projections are not a guarantee of financial performance and
actual results may differ from financial projections and such differences may be material; provided, further, that without limiting the conditions set forth in Section 2 above or Annex B hereto, the accuracy of the representations
and warranty set forth in this sentence shall not be a condition precedent to funding of the Facility on each Closing Date. You agree that if at any time prior to the later of (i) the final Closing Date and (ii) the Syndication Date, any
of the representations in the preceding sentence would be incorrect in any material respect if such Information or such financial projections were being furnished, and such representations were being made, at such time, then you will promptly
supplement, or cause to be supplemented, such Information or such financial projections so that (with respect to the Acquired Assets prior to the applicable Closing Date, to your knowledge) such representations will be correct under those
circumstances in all material respects at such time. In arranging and syndicating the Facility, you acknowledge and agree that the Arranger will be entitled to use and rely on the Information and the financial projections without responsibility for
independent verification thereof and that the Arranger will have no obligation to conduct any independent evaluation or appraisal of the Acquired Assets, the assets or liabilities of the Borrower or any other person or to advise or opine on any
related solvency issues. 
  

	5.	 Indemnification and Related Matters. 

In connection with arrangements such as this, it is the policy of the Commitment Parties to receive indemnification. 

In the event that any Commitment Party becomes involved in any capacity in any action, proceeding or investigation brought by or against any
person, including your or any of your shareholders, partners, members or other equity holders in connection with or as a result of either this arrangement or any matter 

  
 6 

 
arising out of this Commitment Letter or the Fee Letter (together, the “Letters”), you agree to periodically reimburse such Commitment Party upon written demand (together with
customary documentation in reasonable detail) for its reasonable and documented out-of-pocket legal and other out-of-pocket expenses (including the cost of any investigation and preparation) incurred in connection therewith (provided that any legal expenses shall be limited to one counsel for all Commitment Parties
taken as a whole and if reasonably necessary, a single local counsel for all Commitment Parties taken as a whole in each relevant jurisdiction (which may be a single local counsel acting in multiple jurisdictions) and, solely in the case of an
actual or perceived conflict of interest between Commitment Parties where the Commitment Parties affected by such conflict inform you of such conflict, one additional counsel in each relevant jurisdiction to each group of affected Commitment Party
similarly situated taken as a whole); provided, however, the foregoing shall not apply to any expenses for any action, proceeding or investigation involving losses, claims, damages or liabilities that have been found by a final, non-appealable judgment of a court of competent jurisdiction (a) to have resulted from (x) the gross negligence, bad faith or willful misconduct of such Commitment Party or its Related Commitment Party in
performing the services that are the subject of the Letters or (y) a material breach of the obligations of such Commitment Party or its Related Commitment Party under this Commitment Letter, Fee Letter or the Loan Documents or (b) arising
from any dispute among Commitment Parties or any Related Commitment Parties of the foregoing other than any claims against Bank of America in its capacity or in fulfilling its role as an agent or arranger role with respect to the Facility and other
than any claims arising out of any act or omission on the part of you or your affiliates. You also agree to indemnify and hold each Commitment Party harmless against any and all losses, claims, damages or liabilities to any such person arising out
of any investigation, litigation, claim or proceeding in connection with or as a result of either this arrangement or any matter referred to in the Letters (whether or not such investigation, litigation, claim or proceeding is brought by you, your
equity holders or creditors or any indemnified person and whether or not any such indemnified person is otherwise a party thereto), except to the extent that such loss, claim, damage or liability has been found by a final, non-appealable judgment of a court of competent jurisdiction (a) to have resulted from (x) the gross negligence, bad faith or willful misconduct of such Commitment Party or its Related Commitment Party in
performing the services that are the subject of the Letters or (y) a material breach of the obligations of such Commitment Party or its Related Commitment Party under this Commitment Letter, Fee Letter or the Credit Agreement and related
definitive documentation or (b) arising from any dispute among Commitment Parties or any Related Commitment Parties of the foregoing other than any claims against Bank of America in its capacity or in fulfilling its role as an agent or arranger
role with respect to the Facility and other than any claims arising out of any act or omission on the part of you or your affiliates. 

Your reimbursement, indemnity and contribution obligations under this Section 5 will be in addition to any liability or obligation which
you may otherwise have, will extend upon the same terms and conditions to each affiliate of any such Commitment Party and the partners, members, directors, agents, employees and controlling persons (if any), as the case may be, of such Commitment
Party and each such affiliate, and will be binding upon and inure to the benefit of any successors, assigns, heirs and personal representatives of you, such Commitment Party, any such affiliate and any such person. You also agree that neither any
Commitment Party nor any of its affiliates, partners, members, directors, agents, employees or controlling persons or any of their respective successors, assigns, heirs and personal representatives (collectively, the “Protected
Persons”) will have any liability to you or any person asserting claims on behalf of or in right of you or any other person in connection with or as a result of either this arrangement or any matter referred to in the Letters, except, in
the case of any liability to you, to the extent that any losses, claims, damages, liabilities or expenses incurred by you have been found by a final, non-appealable judgment of a court of competent
jurisdiction to have resulted from the gross negligence, bad faith or willful misconduct of such Protected Person; provided, however, that in no event will such protected person or such other parties have any liability for any
indirect, consequential, special or punitive damages in connection with or as a result of such protected person’s or such other persons’ activities related to the Letters. 

  
 7 

 Neither you nor any of your affiliates will be responsible or liable to the Commitment Parties or
any other person or entity for any indirect, special, punitive or consequential damages that may be alleged as a result of the Acquisition, this Commitment Letter, the Fee Letter, the Facility, the Transactions or any related transaction
contemplated hereby or thereby or any use or intended use of the proceeds of the Facility; provided, that nothing in this sentence shall limit your indemnity and reimbursement obligations set forth in this Section 5. 

Promptly after receipt by any Commitment Party of notice of its involvement in any action, proceeding or investigation, such Commitment Party
will, if a claim for indemnification in respect thereof may be made against you under this Section 5, notify you in writing of such involvement. Failure by any Commitment Party to so notify you will not relieve you from the obligation to
indemnify such Commitment Party under this Section 5 except to the extent that you suffer actual prejudice as a result of such failure, and will not relieve you from your obligation to provide reimbursement and contribution to such Commitment
Party. 
 For purposes hereof, a “Related Commitment Party” of a Commitment Party means (a) any controlling person or
controlled affiliate of such Commitment Party, (b) the respective directors, officers, or employees of such Commitment Party or any of its controlling persons or controlled affiliates and (c) the respective agents of such Commitment Party
or any of its controlling persons or controlled affiliates, in the case of this clause (c), acting at the instructions of such Commitment Party, controlling person or such controlled affiliate; provided that each reference to a controlled
affiliate or controlling person in this sentence pertains to a controlled affiliate or controlling person involved in the negotiation or syndication of this Commitment Letter and the Facility. 

The provisions of this Section 5 will survive any termination or completion of the arrangement provided by the Letters. 

 

	6.	 Assignments. 

This Commitment Letter may not be assigned by you without the prior written consent of the Arranger (and any purported assignment without such
consent will be null and void) and, except as set forth in Section 5 hereto, is intended to be solely for the benefit of the parties hereto and is not intended to confer any benefits upon, or create any rights in favor of or be enforceable by
or at the request of, any person other than the parties hereto. Any Commitment Party may assign its commitment and agreements hereunder, in whole or in part, to any of its affiliates and, as part of the syndication of the Facility, and subject to
the provisions of Section 3 hereof, to any Lender; provided, that, except in the case of a Commitment Party assigning its commitment to its affiliate which is also a Commitment Party, the assigning Commitment Party shall not be released
from the portion of its commitment so assigned to the extent that such affiliate fails to fund on each Closing Date the portion of the commitment so assigned to it; provided further that subject to the last sentence of the fourth
paragraph of Section 8 of this Commitment Letter, BofA Securities, as Arranger, and BANA, as Administrative Agent, may not assign such roles under the Facility without your prior written consent. 

 

	7.	 Confidentiality. 

Please note that this Commitment Letter and the Fee Letter, the terms hereof and thereof and any written communications provided by, or oral
discussions with, the Arranger in connection with this arrangement are exclusively for your information and may not be disclosed by you to any other person or circulated or referred to publicly except you may disclose (a) this Commitment Letter
and the Fee Letter, the terms hereof and thereof and such communications and discussions (i) to your officers, directors, employees, partners, members, accountants, attorneys, agents and advisors who are directly involved in the consideration
of the Facility and who have been advised by you of the confidential nature of such information or (ii) pursuant 

  
 8 

 
to a subpoena or order issued by a court or by judicial, administrative or legislative body or committee, or as compelled in a judicial or administrative proceeding, or as otherwise required by
applicable law or compulsory legal process or requested by a governmental authority (in which case you agree to inform us promptly thereof to the extent not prohibited by law), (b) this Commitment Letter and the terms hereof, and a version of the
Fee Letter that shall have been redacted in a manner reasonably acceptable to the Arranger, to the Seller so long as it shall have agreed to treat such information confidentially, and to the Seller’s officers, directors, employees, partners,
members, accountants, attorneys, agents and advisors who are directly involved in the consideration of the Acquisitions or the Facility and who have been advised of the confidential nature of such information, (c) information regarding the
Facility (but not the Fee Letter or the terms thereof) in any prospectus or other offering memorandum or information memorandum relating to the offering of the Notes, the Equity Offerings or another permanent financing, (d) information
regarding the Facility and the related transactions (but not the Fee Letter or the terms thereof) to ratings agencies on a confidential basis, (e) the existence of the Fee Letter and a generic description of the sources and uses (in a manner
that does not disclose the amount of any individual fees paid in connection with the Transactions) in connection with the Transactions as part of any projections or other information in customary marketing materials and in filings with the SEC and
other applicable regulatory authorities and stock exchanges, (f) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Commitment Letter, the Fee Letter, or the transactions contemplated
hereby or thereby or enforcement hereof or thereof, (g) this Commitment Letter and information regarding the Facility (but not the Fee Letter) may be disclosed to the extent you reasonably determine that such disclosure is advisable to comply
with your obligations under securities and other applicable laws, in any public filing, or any other filing with any governmental authority in connection with the Transactions or the financing thereof and (h) information regarding the Facility
with our prior written consent; provided that the foregoing restrictions shall cease to apply with respect to the Commitment Letter (but not with respect to the Fee Letter and its terms and substance) after your acceptance of this Commitment
Letter and the Fee Letter and after the Commitment Letter has become publicly available as a result of disclosure in accordance with the terms of this paragraph. 

The Arranger and each Commitment Party agrees that it will treat as confidential all information provided to it hereunder by or on behalf of
you, the Seller or any of your or the Seller’s respective subsidiaries or affiliates; provided, however, that nothing herein will prevent the Arranger from disclosing any such information (a) pursuant to the order of any
court or administrative agency or in any pending legal or administrative proceeding, or otherwise as required by applicable law or compulsory legal process (in which case such person agrees to inform you promptly thereof to the extent not prohibited
by law), (b) upon the request or demand of any regulatory authority purporting to have jurisdiction over such person or any of its affiliates, (c) to the extent that such information is publicly available or becomes publicly available to it
from a source, other than the Borrower, which is not known by us to have any legal, contractual, confidentiality or fiduciary obligation to the Borrower with respect to such information, (d) to such person’s affiliates and their respective
officers, directors, partners, members, employees, legal counsel, independent auditors and other advisors who need to know such information and on a confidential basis and who have been advised of the confidential nature of such information,
(e) to potential and prospective Lenders, participants and any direct or indirect contractual counterparties to any swap or derivative transaction relating to the Borrower or its obligations under the Facility, in each case, who are advised of
the confidential nature of such information and have agreed to treat such information confidentially, (f) to market data collectors as reasonably determined by the Arranger; provided that such information is limited to the existence of
this Commitment Letter and customary non-confidential information about the Facility, (g) to the extent that such information was already in the Arranger’s possession or is independently developed by
the Arranger or (h) for purposes of establishing a “due diligence” defense; provided that the disclosure of any such information to any Lenders or prospective Lenders or participants or prospective participants or swap or
derivative counterparties referred to above shall be made subject to the acknowledgment and acceptance by such Lender or prospective Lender or participant or prospective participant or swap or derivative counterparty that such information is being
disseminated subject to 

  
 9 

 
customary confidentiality undertakings (including by way of “click-through” acknowledgments) in accordance with the standard syndication processes of the Arranger or customary market
standards for dissemination of such types of information. The Commitment Parties’ obligations under this provision shall remain in effect until the earlier of (i) two years from the date hereof and (ii) the date the definitive
documentation relating to the Facility is entered into, at which time any confidentiality undertaking in such definitive documentation shall supersede this provision. 

Notwithstanding anything in this Commitment Letter to the contrary, the Borrower (and each employee, representative or other agent of the
Borrower) may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the Facility and all materials of any kind (including opinions or other tax analyses) that are provided to the Borrower relating to
such tax treatment and tax structure. However, any information relating to the tax treatment or tax structure will remain subject to the confidentiality provisions hereof (and the foregoing sentence will not apply) to the extent reasonably necessary
to enable the parties hereto, their respective affiliates and their respective affiliates’ directors and employees to comply with applicable securities laws. For this purpose, “tax treatment” means U.S. federal or state income tax
treatment, and “tax structure” is limited to any facts relevant to the U.S. federal income tax treatment of the transactions contemplated by this Commitment Letter but does not include information relating to the identity of the parties
hereto or any of their respective affiliates or the amount or conditions related to the commitments hereunder. 
  

	8.	 Absence of Fiduciary Relationship; Affiliates; Etc. 

As you know, the Arranger (together with its affiliates, the “Arranger Group”), is a full service financial institution
engaged, either directly or through its affiliates, in a broad array of activities, including commercial and investment banking, financial advisory, market making and trading, investment management (both public and private investing), investment
research, principal investment, financial planning, benefits counseling, risk management, hedging, financing, brokerage and other financial and non-financial activities and services globally. In the ordinary
course of their various business activities, each of the Arranger Group and funds or other entities or persons in which the Arranger Group co-invests may at any time purchase, sell, hold or vote long or short
positions and investments in securities, derivatives, loans, commodities, currencies, credit default swaps and other financial instruments for their own account and for the accounts of their customers. In addition, the Arranger Group may at any time
communicate independent recommendations and/or publish or express independent research views in respect of such assets, securities or instruments. Any of the aforementioned activities may involve or relate to the Borrower, the Acquired Assets or
your affiliates, or the assets, securities and/or instruments of the Borrower, its affiliates and other entities and persons that may be involved in transactions arising from or relating to the arrangement contemplated by this Commitment Letter or
have other relationships with the Acquired Assets or the Borrower, or its affiliates. In addition, the Arranger Group may provide investment banking, commercial banking, underwriting and financial advisory services to such other entities and
persons. The arrangement contemplated by this Commitment Letter may have a direct or indirect impact on the investments, securities or instruments referred to in this paragraph, and employees working on the financing contemplated hereby may have
been involved in originating certain of such investments and those employees may receive credit internally therefor. Although the Arranger Group in the course of such other activities and relationships may acquire information about the transactions
contemplated by this Commitment Letter or other entities and persons that may be the subject of the financing contemplated by this Commitment Letter, the Arranger Group shall not have any obligation to disclose such information, or the fact that the
Arranger Group is in possession of such information, to you or any of your affiliates or to use such information on your or your affiliates’ behalf. 

Consistent with the policies of the Arranger Group to hold in confidence the affairs of its customers, the Arranger Group will not furnish
confidential information obtained from you by virtue of the transactions 

  
 10 

 
contemplated by this Commitment Letter to any of its other customers. Furthermore, you acknowledge that the Arranger Group and their respective affiliates have no obligation to use in connection
with the transactions contemplated by this Commitment Letter, or to furnish to you, confidential information obtained or that may be obtained by them from any other person. 

The Arranger Group may have economic interests that conflict with yours or those of your equityholders or affiliates. You agree that the
Arranger Group will act under this Commitment Letter as an independent contractor and that nothing in this Commitment Letter or the Fee Letter or otherwise will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or other
implied duty between the Arranger Group, on the one hand, and you or your equityholders or affiliates, on the other hand. You acknowledge and agree that the financing transactions contemplated by this Commitment Letter and the Fee Letter (including
the exercise of rights and remedies hereunder and thereunder) are arm’s-length commercial transactions between the Arranger Group, on the one hand, and you, on the other, and in connection therewith and
with the process leading thereto, (a) the Arranger Group has not assumed advisory or fiduciary responsibilities in favor of you or your equityholders or affiliates with respect to the financing transactions contemplated hereby (or the exercise
of rights or remedies with respect thereto) or the process leading thereto (irrespective of whether the Arranger Group has advised, is currently advising or will advise you or your equityholders or affiliates on other matters) or any other
obligation to you, except the obligations expressly set forth in this Commitment Letter and the Fee Letter and (b) the Arranger Group is acting solely as a principal and not as an agent or fiduciary of you or your management, equityholders,
affiliates, creditors or any other person in connection with the financing transactions contemplated hereby. You acknowledge and agree that you have consulted your own legal and financial advisors to the extent you deemed appropriate and that you
are responsible for making your own independent judgment with respect to such transactions and the process leading thereto. You agree that you will not claim that, the Arranger Group has rendered advisory services of any nature or respect, or owes a
fiduciary or similar duty to you, in connection with such financing transactions or the process leading thereto and, in furtherance thereof, agree that, the Arranger Group shall not have any liability (whether direct or indirect) to you or to any
person asserting any such claim on behalf of or in right of you, including your equityholders, affiliates, creditors or any other person in connection with the financing transactions contemplated hereby. 

As you know, Bank of America has been retained by you as financial advisor (in such capacity, the “Financial Advisor”) in
connection with the acquisition of the Acquired Assets. You agree not to assert any claim you might allege based on any actual or potential conflicts of interest that might be asserted to arise or result from, on the one hand, the engagement of the
Financial Advisor and on the other hand, our and our affiliates’ relationships with you as described and referred to herein. In addition, the Arranger Group may employ the services of its affiliates in providing services and/or performing their
obligations hereunder and, subject to the confidentiality provisions applicable to the Arranger, may exchange with such affiliates information concerning the Borrower, the Acquired Assets and other entities or persons that may be the subject of this
arrangement, and such affiliates will be entitled to the benefits afforded to the Arranger Group hereunder. 
 In addition, please note that
the Arranger Group does not provide accounting, tax or legal advice. 
  

	9.	 Miscellaneous. 

The Commitment Parties’ commitments and agreements hereunder will automatically terminate (a) with respect to the Latam
Subfacility, upon the first to occur of (i) the consummation of the Latam Acquisition on the Latam Closing Date, (ii) the termination in accordance with the terms of the Latam Acquisition Agreement or the public announcement by the
Borrower of the abandonment of the Latam Acquisition; provided that this clause (ii) shall not apply to a partial termination of the Latam Acquisition Agreement in accordance with its terms with respect to the Brazilian Companies (as
defined in the Latam Acquisition 

  
 11 

 
Agreement) and (iii) the Long Stop Date (as defined in the Latam Acquisition Agreement as in effect on the date hereof) or, if the Long Stop Date (as defined in the Latam Acquisition
Agreement) is extended pursuant to Section 4.1.6 of the Latam Acquisition Agreement as in effect on the date hereof, the Extended Long Stop Date (as such dates may be extended pursuant to the terms of the agreements entered into between the
Buyer and Telxius Telecom, S.A., dated on or prior to the date hereof and as in effect on the date hereof) (which in any event shall not be later than the date that is 26 months after the date hereof), unless the closing of the Latam Facility, on
the terms and subject to the conditions contained herein, has been consummated on or before such date and (b) with respect to the Europe Subfacility, upon the first to occur of (i) the consummation of the Europe Acquisition on the
First Europe Closing Date and the Second Europe Closing Date, (ii) the termination in accordance with the terms of the Europe Acquisition Agreement or the public announcement by the Borrower of the abandonment of the Europe Acquisition;
provided that this clause (ii) shall not apply to the partial termination of the Europe Acquisition Agreement in accordance with its terms with respect to Towers Zweite (as defined in the Europe Acquisition Agreement) if the German
Condition Precedent (as defined in the Europe Acquisition Agreement) has not been satisfied and (iii) July 13, 2021 (or, if the Long Stop Date (as defined in the Europe Acquisition Agreement as in effect on the date hereof) is extended pursuant
to Section 4.3 of the Europe Acquisition Agreement as in effect on the date hereof, April 13, 2022) unless the closing of the Europe Facility, on the terms and subject to the conditions contained herein, has been consummated on or before
such date. In addition, the Commitment Parties’ commitments hereunder will automatically terminate and, if applicable, be superseded by the comparable provisions contained in the definitive Credit Agreement on the date the definitive Credit
Agreement is executed and delivered. 
 The provisions set forth under Sections 3, 4, 5, 7 and 8 hereof and this Section 9 and the
provisions of the Fee Letter will remain in full force and effect regardless of whether the Credit Agreement is executed and delivered; provided that all of your obligations under this Commitment Letter (other than those under Sections 3, 4,
7 and 8 hereof and this Section 9 and the provisions of the Fee Letter, all of which shall remain in full force and effect) shall automatically terminate and, if applicable, be superseded in their entirety by the comparable provisions contained
in the definitive Credit Agreement on the date the definitive Credit Agreement is executed and delivered; provided, further, that the provisions set forth under Section 4 shall not survive if the commitments and undertakings of
the Commitment Parties are terminated prior to the effectiveness of the Facility (or upon the closing of the Acquisition without the use of any proceeds of the Facility). The provisions set forth under Sections 5, 7 and 8 hereof and this
Section 9 and the provisions of the Fee Letter will remain in full force and effect notwithstanding the expiration or termination of this Commitment Letter or the commitments and agreements hereunder. You may terminate this Commitment Letter
and/or any Commitment Party’s commitment with respect to the Facility (or a portion thereof) at any time subject to the provisions of the immediately preceding sentence. 

Each of the parties hereto agrees, for itself and its affiliates, that any suit, action or proceeding arising in respect of this Commitment Letter or the
Commitment Parties’ commitments or agreements hereunder or the Fee Letter brought by it or any of its affiliates shall be brought, and shall be heard and determined, exclusively in any Federal court of the United States of America sitting in
the Borough of Manhattan or, if that court does not have subject matter jurisdiction, in any state court located in the City and County of New York. Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its
property, to the jurisdiction of, and to venue in, such court and irrevocably and unconditionally waives any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising in respect of this Commitment
Letter or the Commitment Parties’ commitments or agreements hereunder or the Fee Letter in any such court and any defense of any inconvenient forum to the maintenance of any such suit, action or proceeding in any such court. Each of the parties
hereto agrees that a final judgment in any such suit, action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Service of any process, summons, notice or
document by 

  
 12 

 
registered mail or overnight courier addressed to any of the parties hereto at the addresses above shall be effective service of process against such party for any such suit, action or proceeding
brought in any court. Any right to trial by jury with respect to any suit, action or proceeding arising in connection with or as a result of either the Commitment Parties’ commitments or agreements hereunder or the Fee Letter or any matter
referred to in this Commitment Letter or the Fee Letter is hereby irrevocably and unconditionally waived by the parties hereto, to the fullest extent permitted by applicable law. This Commitment Letter and the Fee Letter will be governed by and
construed in accordance with the laws of the State of New York without regard to principles of conflicts of laws; provided, however, that (A) the determination of the accuracy of any Specified Acquisition Agreement Representation and whether as
a result of any inaccuracy thereof you or any of your affiliates have the right to terminate your or their obligations thereunder or decline to consummate the Acquisition as a result thereof and (B) the determination of whether the Acquisition
has been consummated in accordance with the terms of the Acquisition Agreements, in each case shall be determined pursuant to the relevant Acquisition Agreement, which are governed by, and construed in accordance with, the laws of Spain, regardless
of the laws that might otherwise govern under applicable principles of conflicts of laws thereof. 
 Each of the Parties hereto agrees
that this Commitment Letter is a binding and enforceable agreement with respect to the subject matter contained herein, including the good faith negotiation of the definitive documentation by the parties hereto in a manner consistent with this
Commitment Letter, it being understood for the avoidance of doubt that the funding of the Facility is subject to the conditions precedent set forth in Section 2 herein. 

The Arranger hereby notifies you that pursuant to the requirements of the USA PATRIOT Act (Title III of
Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”) and 31 C.F.R. § 1010.230 (the “Beneficial Ownership Regulation”), the Arranger and
each Lender may be required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow the Arranger and each Lender to identify the
Borrower in accordance with the Patriot Act and the Beneficial Ownership Regulation. This notice is given in accordance with the requirements of the Patriot Act and the Beneficial Ownership Regulation, and is effective for the Arranger and each
Lender. 
 This Commitment Letter may be executed in any number of counterparts, including both paper and electronic counterparts, each of
which when executed will be an original, and all of which, when taken together, will constitute one agreement. Delivery of an executed counterpart of a signature page of this Commitment Letter by facsimile transmission or electronic transmission (in
..pdf format) will be effective as delivery of a manually executed counterpart hereof. This Commitment Letter may be in the form of an Electronic Record (as defined herein) and may be executed using Electronic Signatures (as defined herein)
(including, without limitation, facsimile and .pdf) and shall be considered an original, and shall have the same legal effect, validity and enforceability as a paper record. For the avoidance of doubt, the authorization under this paragraph may
include, without limitation, use or acceptance by the Commitment Parties of a manually signed paper communication which has been converted into electronic form (such as scanned into .pdf format), or an electronically signed communication converted
into another format, for transmission, delivery and/or retention. Notwithstanding anything contained herein to the contrary, the Commitment Parties are under no obligation to accept an Electronic Signature in any form or in any format unless
expressly agreed to by the Commitment Parties pursuant to procedures approved by it; provided, further, without limiting the foregoing, (a) to the extent the Commitment Parties have agreed to accept such Electronic Signature, the
Commitment Parties shall be entitled to rely on any such Electronic Signature purportedly given by or on behalf of the Borrower without further verification and (b) upon the request of any Commitment Party any Electronic Signature shall be
promptly followed by a manually executed, original counterpart. “Electronic Record” and “Electronic Signature” shall have the meanings assigned to 

  
 13 

 
them, respectively, by 15 USC §7006, as it may be amended from time to time. This Commitment Letter may not be amended, and no term or provision hereof may be waived or modified, except by
an instrument in writing signed by each of the parties hereto. 
 Please confirm that the foregoing is in accordance with your understanding
by signing and returning to the Arranger the enclosed copy of this Commitment Letter, together, if not previously executed and delivered, with the Fee Letter, on or before 11:59 p.m. on January 15, 2021, whereupon this Commitment Letter and the
Fee Letter will become binding agreements between us and you. If this Commitment Letter and the Fee Letter have not been signed and returned as described in the preceding sentence by such date, this offer will terminate on such date. 

[Remainder of page intentionally left blank] 

  
 14 

 We look forward to working with you on this transaction. 

 

			
	Very truly yours,
	
	BANK OF AMERICA, N.A.
		
	By:     	 	/s/
KYLE OBERKROM                          
		 	Name: Kyle Oberkrom
		 	Title: Vice President
	
	BOFA SECURITIES, INC.
		
	By:     	 	/s/ JEFFREY STANDISH                        
		 	Name: Jeffrey Standish
		 	Title: Managing Director

 [Signature Page to Commitment Letter] 

					
	ACCEPTED AND AGREED AS OF	  	
	THE DATE FIRST SET FORTH ABOVE:	  	
		
	    AMERICAN TOWER CORPORATION	  	
			
	 By:     
	 	 /s/ RODNEY M.
SMITH                                       
   
	  	
		 	 Name: Rodney M. Smith
	  	
		 	 Title: Executive Vice President,
	  	
		 	 Chief Financial Officer and Treasurer
	  	

 [Signature Page to Commitment Letter] 

 ANNEX A 

CONFIDENTIAL 
 Project Scala

 Summary of the Facility 
 This
Summary outlines the principal terms of the Facility referred to in the Commitment Letter, of which this Annex A is a part. Capitalized terms used but not defined in this Annex A have the meanings given thereto in the Commitment Letter.

  

			
	 Borrower:
	  	 American Tower Corporation, a Delaware corporation (the “Borrower”).

		
	 Guarantors:
	  	 None.

		
	 Sole Lead Arranger and Lead
	  	 BofA Securities, Inc. (in such capacity, the “Arranger”).

		
	 Bookrunner:
	  	
		
	 Sole Administrative Agent:
	  	 Bank of America, N.A. (in such capacity, the “Administrative Agent”).

		
	 Lenders:
	  	 Banks and other financial institutions selected by the Arranger in consultation with the Borrower in accordance with
Section 3 of the Commitment Letter (each, a “Lender” and, collectively, the “Lenders”).

		
	 Transactions:
	  	 The Borrower’s wholly owned subsidiary American Tower International Inc. (the “Buyer”) intends,
through one or more subsidiaries, to acquire a portfolio of wireless communications towers and related assets (the “Acquired Assets”) from an entity previously identified to us and codenamed “Scala” (the
“Seller”) pursuant to the Acquisition Agreements for consideration consisting of cash in an amount not to exceed €7.5 billion. In connection therewith, the Borrower intends to (i) amend the Existing USD Revolving
Credit Facility and/or the Existing Multicurrency Revolving Credit Facility to provide for up to $1,550 million of the aggregate commitments thereunder to be used to finance a portion of the Transactions (as defined below) subject to conditions
to availability which are no less favorable than the conditions to availability of the Facility contemplated hereunder (as reasonably determined by the Borrower upon entering into such amendment) (the “Existing Revolving Credit Facility
Amendments”) and (ii) incur a new term loan facility in an aggregate principal amount not to exceed $2.3 billion (the “Contemplated Term Loan”). A portion of the cash consideration payable to consummate the
Acquisition is expected to be obtained from a combination of (a) cash on hand, (b) proceeds from the Contemplated Term Loan, (c) proceeds from drawings under the Existing Revolving Credit Facilities (after giving effect to the
Existing Revolving Credit Facility Amendments), (d) proceeds from the issuance by the Borrower of equity securities pursuant to one or more Equity Offerings and/or the issuance by the Borrower of Notes pursuant to one or more Notes Offerings and
(e) to the extent that some or all of the proceeds of the Contemplated Term Loan, the Existing Revolving Credit Facilities

  
 Annex A-1 

			
		  	 (after giving effect to the Existing Revolving Credit Facility Amendments), the Equity Offering or the Notes Offering are
not available, borrowings by the Borrower of term loans under the Facility described herein. The Acquisition and the other transactions described in this paragraph are collectively referred to as the “Transactions”. The portion of
the Acquisition to be consummated pursuant to the Latam Acquisition Agreement is herein referred to as the “Latam Acquisition”, and the portion of the Acquisition to be consummated pursuant to the Europe Acquisition Agreement is
herein referred to as the “Europe Acquisition” (the Latam Acquisition and the Europe Acquisition, together, the “Acquisition”). “Existing Revolving Credit Facilities” means, collectively,
(i) that certain second amended and restated revolving credit agreement dated as of December 20, 2019 among the Borrower, the lenders party thereto and Toronto Dominion (Texas) LLC, as administrative agent (the “Existing USD
Revolving Credit Facility”) and (ii) that certain amended and restated multicurrency revolving credit agreement, dated as of December 20, 2019, among the Borrower, the lenders party thereto and Toronto Dominion (Texas) LLC, as
administrative agent (the “Existing Multicurrency Revolving Credit Facility”).

		
	 Facility:
	  	 A senior unsecured bridge loan facility in an aggregate principal amount of up to €7.5 billion composed of two
tranches: (a) a €6.232 billion unsecured bridge loan tranche (“Tranche A”) and (b) a €1.268 billion unsecured bridge loan tranche
(“Tranche B” and, together with Tranche A, the “Tranches”), less the amount of any reductions of the commitments as set forth under “Optional
Commitment Reductions and Prepayments” and “Mandatory Commitment Reductions and Prepayments” below (the “Facility”). The portion of the Facility provided in connection with the Latam Acquisition in the aggregate
amount of €887 million is herein referred to as the “Latam Subfacility” and the portion of the Facility provided in connection with the Europe Acquisition in the aggregate amount of €6.613 billion is herein
referred to as the “Europe Subfacility” (and together with the Latam Subfacility, the “Subfacilities”). The Tranches shall be allocated between the Subfacilities in a manner to be mutually agreed.

		
	 Purpose/Use of Proceeds:
	  	 The proceeds of the Loans under the Facility (the “Loans”) will be used on each applicable Closing Date to
pay all or a portion of the cash consideration under the Acquisition Agreements and to pay fees and expenses incurred in connection with the Transactions. The proceeds of the Loans under the Latam Subfacility will be used on the Latam Closing Date
in connection with the Latam Acquisition, and the proceeds of the Loans under the Europe Subfacility will be used on the First Europe Closing Date and the Second Europe Closing Date in connection with the Europe Acquisition.

		
	 Closing Date:
	  	 There will be up to three closing dates under the Acquisition Agreements: (i) the “Latam Closing
Date” on which the transactions described under the Latam Acquisition Agreement shall take place, (ii) the “First Europe Closing Date” on which the First Closing
(as

  
 Annex A-2 

			
		  	 defined in the Europe Acquisition Agreement) shall take place and (iii) the “Second Europe Closing
Date” (together with the Latam Closing Date and the First Europe Closing Date, the “Closing Dates”, with the first Closing Date to occur being the “Initial Closing Date”) on which the Second Closing (as
defined in the Europe Acquisition Agreement) shall take place, and in each case on which the Conditions Precedent described in Section 2 of the Commitment Letter to which this Annex is attached have been satisfied or otherwise
waived.

		
	Availability:	  	 Loans will be available to be drawn on (i) the Latam Closing Date, (ii) the First Europe Closing Date and
(iii) the Second Europe Closing Date. The Loans will be available in Euros.

		
	Maturity:	  	 The Loans will mature (i) with respect to the Latam Subfacility, on the day that is 364 days after the Latam
Closing Date and (ii) with respect to the Europe Subfacility, on the day that is 364 days after the First Europe Closing Date.

		
	Ranking:	  	 The Loans will be unsecured and will rank pari passu in right of payment with all other unsecured senior obligations of the
Borrower.

		
	Interest Rates:	  	 As set forth on Schedule I to this Annex A.

		
	Optional Commitment	  	
	Reductions and Prepayments:	  	 Commitments may be terminated in whole or reduced in part, at the option of the Borrower, at any time without premium or
penalty, upon three business days’ written notice, in minimum amounts and multiples to be agreed.

		
		  	 Loans may be prepaid, in whole or in part, at the option of the Borrower, at any time without premium or penalty, upon
three business days’ written notice, in minimum amounts and multiples to be agreed. Optional reductions, terminations and prepayments may be allocated between loans and between Tranche A and Tranche B as determined by the
Borrower.

		
	Mandatory Commitment	  	
	Reductions and Prepayments:	  	 Commitments under the Facility will be reduced, and Loans will be required to be prepaid, in an aggregate amount equal
to:

		
		  	 (a)   without duplication of clause (b), 100% of the commitments
provided to the Borrower or any of its subsidiaries pursuant to any committed but unfunded bank term loan credit agreement or similar definitive agreement for the incurrence of debt for borrowed money that has become effective for the purpose of
financing the Transactions and having conditions to availability which are no less favorable than the conditions to availability of the Facility contemplated hereunder (as reasonably determined by the Borrower upon entering into such committed
financing) (a “Qualifying Term Loan Facility”);

  
 Annex A-3 

			
		  	 (b)   without duplication of clause (a) above and for the
avoidance of doubt, excluding the net cash proceeds of any Qualifying Term Loan Facility (to the extent that the commitments under the Facility have previously been reduced by the committed amount of such Qualifying Term Loan Facility as
contemplated by clause (a) above), 100% of the net cash proceeds (net of all reasonable fees and out-of-pocket costs and expenses in connection with such event,
including, without limitation, legal fees, investment banking fees, underwriting discounts and commissions, upfront fees, arranger fees, commitment fees, consultant fees, accountant fees and other similar fees) received by the Borrower or any of its
subsidiaries from any Debt Incurrence (as defined below) after the date of the Commitment Letter to which this Annex A is attached, whether before or after the Initial Closing Date;

		
		  	 (c)   100% of the net cash proceeds (net of all reasonable fees
and out-of-pocket costs and expenses in connection with such event, including, without limitation, legal fees, investment banking fees, underwriting discounts and
commissions, upfront fees, arranger fees, commitment fees, consultant fees, accountant fees and other similar fees) received by the Borrower from any Equity Issuance (as defined below) after the date of the Commitment Letter to which this Annex A is
attached, whether before or after the Initial Closing Date; and

		
		  	 (d)   100% of the net cash proceeds (net of all reasonable fees
and out-of-pocket costs and expenses in connection with such event, including, without limitation, legal fees, investment banking fees, the amount of all payments
required to be made as a result of such event to repay indebtedness secured by such asset, taxes, any reserves established to fund contingent liabilities reasonably estimated to be payable or any retained liabilities) received by the Borrower and
any of its subsidiaries from any sale or other disposition of assets (including from the sale of equity interests in any subsidiary of the Borrower) consummated after the date of the Commitment Letter to which this Annex A is attached, whether
before or after the Initial Closing Date (for the avoidance of doubt, including any sale or other disposition of the Acquired Assets to a third party or any joint venture vehicle), subject to exceptions for (i) dispositions in the ordinary
course of business, (ii) net cash proceeds to the extent not greater than $25 million in the aggregate in any fiscal year and (iii) such other exceptions as the Arranger and the Borrower may agree upon.

		
		  	 All mandatory prepayments or commitment reductions pursuant to the above shall be allocated first to the Latam Subfacility
unless otherwise mutually agreed by the Borrower and the Arranger, and then among

  
 Annex A-4 

			
		  	 Tranches in a manner mutually agreed by the Borrower and the Arranger.

		
		  	 In addition, following the effectiveness of the Existing Revolving Credit Facility Amendments, the aggregate commitments in
respect of Tranche B of the Facility shall be automatically reduced to €0.

		
		  	 “Debt Incurrence” means any incurrence of debt for borrowed money by the Borrower or any of its
subsidiaries, whether pursuant to a public offering or in a Rule 144A or other private placement of debt securities (including debt securities convertible into equity securities) or incurrence of loans under any loan or credit facility, other than
(a) the Loans, (b) (x) debt among the Borrower and its subsidiaries and (y) with respect to existing subsidiaries of the Borrower that are owned by the Borrower and one or more joint venture partners, indebtedness of such subsidiary
owed to such joint venture partner(s) that is not guaranteed by the Borrower or any other subsidiary, (c) (x) borrowings under the Existing Revolving Credit Facilities or under any amendments, restatements or renewals thereof, in each case in
an aggregate principal or committed amount not exceeding $1,550 million above the aggregate principal or committed amount thereunder on the date hereof or (y) refinancings of drawings under the Existing Revolving Credit Facilities, the
proceeds of which drawings were applied to effect the refinancings, described in sub-clause (d)(x) or (f)(x) below in this definition, (d) refinancings or renewals of (x) that certain term loan
agreement, dated as of February 13, 2020 among the Borrower, the lenders party thereto and Mizuho Bank, Ltd., as administrative agent, in each case, as amended or modified from time to time, including refinancings via interim drawings under the
Existing Revolving Credit Facilities in an aggregate principal amount not to exceed $750 million (the “2020 Term Loan Agreement”) and (y) the Foreign Refinancing Indebtedness, (e) capital lease financings,
(f) secured loans, borrowings or facilities that may be included in commercial real estate securitization transactions in an aggregate principal amount not to exceed $250 million (it being understood that (x) refinancings of the
existing securitization programs, including via interim drawings under the Existing Revolving Credit Facilities, in an aggregate principal amount not to exceed $750 million and (y) substitution of assets subject to the existing
securitization programs that do not result in an increase in the aggregate principal amount of secured loans, borrowings or facilities under such securitization programs in each case shall not constitute a Debt Incurrence), (g) other debt in an
aggregate principal amount up to $500 million (excluding the Contemplated Term Loan and the Notes Offering), (h) letters of credit issued in the ordinary course of business, (i) refinancings or renewals of the Borrower’s 2.250% senior
notes due January 2022, 4.70% senior notes due March 2022 and/or 3.50% senior notes due January 2023 that do not result in an increase in the aggregate principal amount of the existing debt so refinanced or renewed and (j) such other exceptions
as the Arranger and the Borrower may agree upon. 

  
 Annex A-5 

			
		  	 “Equity Issuance” means any issuance of equity securities by the Borrower, whether pursuant to a public
offering or in a Rule 144A or other private placement or otherwise, other than (a) securities issued pursuant to employee stock plans or employee compensation plans and directors qualifying shares, (b) capital contributions received from,
or issuance of equity interests to, the Borrower, (c) securities or interests issued or transferred as consideration in connection with any acquisition and (d) such other exceptions as the Arranger and the Borrower may agree
upon.

		
		  	 The commitments under the Facility will automatically terminate (a) with respect to the Latam Subfacility, upon
the first to occur of (i) the consummation of the Latam Acquisition on the Latam Closing Date, (ii) the termination in accordance with the terms of the Latam Acquisition Agreement or the public announcement by the Borrower of the
abandonment of the Latam Acquisition; provided that this clause (ii) shall not apply to a partial termination of the Latam Acquisition Agreement in accordance with its terms with respect to the Brazilian Companies (as defined in the
Latam Acquisition Agreement) and (iii) the Long Stop Date (as defined in the Latam Acquisition Agreement as in effect on the date hereof) or, if the Long Stop Date (as defined in the Latam Acquisition Agreement) is extended pursuant to
Section 4.1.6 of the Latam Acquisition Agreement as in effect on the date hereof, the Extended Long Stop Date (as such dates may be extended pursuant to the terms of the agreements entered into between the Buyer and Telxius Telecom, S.A., dated
on or prior to the date hereof and as in effect on the date hereof) (which in any event shall not be later than the date that is 26 months after the date hereof), unless the closing of the Latam Facility, on the terms and subject to the conditions
contained herein, has been consummated on or before such date and (b) with respect to the Europe Subfacility, upon the first to occur of (i) the consummation of the Europe Acquisition on the First Europe Closing Date and the Second
Europe Closing Date, (ii) the termination in accordance with the terms of the Europe Acquisition Agreement or the public announcement by the Borrower of the abandonment of the Europe Acquisition; provided that this clause (ii) shall
not apply to the partial termination of the Europe Acquisition Agreement in accordance with its terms with respect to Towers Zweite (as defined in the Europe Acquisition Agreement) if the German Condition Precedent (as defined in the Europe
Acquisition Agreement) has not been satisfied and (iii) July 13, 2021 (or, if the Long Stop Date (as defined in the Europe Acquisition Agreement as in effect on the date hereof) is extended pursuant to Section 4.3 of the Europe Acquisition
Agreement as in effect on the date hereof, April 13, 2022) unless the closing of the Europe Facility, on the terms and subject to the conditions contained herein, has been consummated on or before such date.

		
		  	 The Borrower agrees to promptly notify the Administrative Agent of any required mandatory commitment reductions and
prepayments hereunder. The Borrower and the Administrative Agent shall mutually agree on a procedure for converting non-Euro amounts for purposes
of

  
 Annex A-6 

			
		  	 calculating any mandatory commitment reduction or prepayment hereunder.

		
	 Documentation:
	  	 The Facility will be documented under a credit agreement (the “Credit Agreement”) substantially
consistent with the 2019 Term Loan Agreement, modified as appropriate to reflect the terms and conditions set forth herein and in Annex B to the Commitment Letter and as appropriate in view of the structure and intended use of the Facility. In
addition, the Credit Agreement shall be modified to reflect the Administrative Agent’s operational and agency provisions, in form and substance reasonably acceptable to the Borrower, including those necessary to administer a Euro-denominated
loan, and in addition shall contain customary provisions with respect to (i) LLC division/series transactions and (ii) EURIBOR replacement (this paragraph, collectively, the “Documentation
Principles”).

		
	 Representations and
	  	
	 Warranties:
	  	 The Credit Agreement will contain representations and warranties substantially consistent with those in the 2019 Term Loan
Agreement and shall in addition include the representation set forth on Schedule II to this Annex A.

		
	 Affirmative
	  	
	 Covenants:
	  	 The Credit Agreement will contain affirmative covenants substantially consistent with those in the 2019 Term Loan
Agreement.

		
	 Information Covenants:
	  	 The Credit Agreement will contain information covenants substantially consistent with those in the 2019 Term Loan
Agreement.

		
	 Negative Covenants:
	  	 The Credit Agreement will contain negative covenants substantially consistent with those in the 2019 Term Loan Agreement;
provided that the Credit Agreement shall not restrict the Acquisition or any of the Transactions contemplated by the Acquisition Agreements.

		
	 Financial Covenants:
	  	 Limited to: 

		
		  	 (a) A maximum ratio of Total Debt to Adjusted EBITDA at each quarter end not to exceed 7.00 to 1.00,
and

		
		  	 (b) A maximum ratio of Senior Secured Debt to Adjusted EBITDA at each fiscal quarter end not to exceed 3.00 to
1.00.

		
		  	 For purposes of calculating the foregoing, Total Debt, Adjusted EBITDA, Senior Secured Debt and Interest Expense shall each
have substantially the same definitions as contained in the 2019 Term Loan Agreement.

		
	 Events of Default:
	  	 Substantially consistent with those in the 2019 Term Loan Agreement (including grace periods and thresholds).

		
	 Conditions Precedent to
	  	

  
 Annex A-7 

			
	 Funding:
	  	 Subject to the Certain Funds Provision, the obligations of the Lenders to make the Loans will be subject solely to the
conditions precedent set forth in Section 2 of the Commitment Letter (including those set forth in Annex B attached thereto).

		
	 Assignments and Participations:
	  	 The Credit Agreement will contain assignment and participation provisions substantially consistent with those in the 2019
Term Loan Agreement.

		
		  	 The Lenders will be permitted to assign Loans under the Facility subject to the consent of the Borrower (not to be
unreasonably withheld or delayed); provided that no such consent shall be required for any assignment to a Lender, an affiliate of a Lender or an approved fund of a Lender or if an event of default shall have occurred and be continuing;
provided that assignments of commitments made at any time prior to the Initial Closing Date shall be made in accordance with Section 3 of the Commitment Letter.

		
	 Voting:
	  	 The Credit Agreement will contain amendment and waiver provisions substantially consistent with those in the 2019 Term Loan
Agreement. Notwithstanding the foregoing, amendments and waivers of the Credit Documentation that affect the Lenders under one Tranche or Subfacility adversely
vis-à-vis Lenders under the other Tranche or Subfacility will require the consent of the Lenders holding more than 50% of the aggregate commitments or Loans, as
applicable, under such adversely affected tranche.

		
	 Yield Protection:
	  	 The Credit Agreement will contain yield protection provisions substantially consistent with those in the 2019 Term Loan
Agreement.

		
	 Indemnity and
	  	
	 Expense Reimbursement:
	  	 The Credit Agreement will contain provisions relating to indemnity, expense reimbursement, exculpation and related matters
substantially consistent with those in the 2019 Term Loan Agreement.

		
	 Governing Law and
	  	
	 Jurisdiction:
	  	 The Credit Agreement and other loan documentation will be governed by New York law; provided that the determination
of whether the Acquisition has been consummated in accordance with the terms of the Acquisition Agreements and the determination of whether the Specified Acquisition Agreement Representations are accurate and whether as a result of any inaccuracy
thereof the Buyer has the right (taking into account any applicable cure provisions) to decline to consummate the Acquisition or to terminate its obligations (or otherwise do not have an obligation to close) under the relevant Acquisition Agreement
shall, in each case be governed by, and construed in accordance with, the laws of Spain applicable to agreements made and to be performed entirely within such country without regard to the conflicts of law provisions thereof. Each of the parties
will submit to the exclusive jurisdiction and venue of the federal and state courts of the State of New York and will waive any right to trial by jury.

  
 Annex A-8 

			
	Counsel to the Arranger and the Administrative Agent:	  	 Davis Polk & Wardwell LLP.

 The foregoing is intended to summarize the principal terms and conditions of the Facility. It is not intended to be a
definitive list of all of the terms of the Facility. 

  
 Annex A-9 

 SCHEDULE I TO ANNEX A 

CONFIDENTIAL 
  

			
	 Interest Rates:
	  	 The interest rates for borrowings under each Subfacility will be EURIBOR plus the applicable EURIBOR Margin, depending upon
the ratings (the “Ratings”) of the Index Debt by Moody’s Investor Services, Inc. (“Moody’s”), Fitch, Inc. (“Fitch”) and S&P Global, Inc. (“S&P”), as set forth in
the Facility Pricing Grid below; provided, that the applicable margins at each Pricing Level in such Facility Pricing Grid will increase by 25 basis points on the 90th day following the Margin Ratchet Trigger Date and by an additional 25
basis points each 90th day thereafter while Loans remain outstanding under the applicable Subfacility. “Margin Ratchet Trigger Date” means, with respect to any Subfacility, the date on which such Subfacility is funded; provided that
if at the time such Subfacility is funded, Loans are outstanding under the other Subfacility, the Margin Ratchet Trigger Date for such Subfacility shall mean the date on which such other Subfacility was first funded.

		
		  	 “EURIBOR” means the Euro interbank offered rate.

		
		  	 “Index Debt” means indebtedness of the Borrower for borrowed money that is not subordinated to any other
indebtedness for borrowed money and is not secured or supported by a guarantee, letter of credit or other form of credit enhancement.

		
		  	 The Borrower may elect interest periods of one, three or six months for EURIBOR loans.

		
		  	 Calculation of interest shall be on the basis of actual days elapsed in a year of 360 days. Interest shall be payable at
the end of each applicable interest period (and at three-month intervals in the case of interest periods exceeding three months) on EURIBOR loans.

		
	 Default Rate:
	  	 Immediately following any payment or bankruptcy default, and prospectively at the election of the Requisite Lenders
following any other event of default, with respect to principal, the applicable interest rate plus 2.00% per annum.

		
	 Ticking Fee:
	  	 The Borrower will pay to each Lender a “Ticking Fee” equal to 11 basis points per annum (computed on the
basis of the actual number of days elapsed in a year of 365 or 366 days, as the case may be) on the undrawn amount of each Lender’s commitment from time to time under the Facility, commencing upon the later of (x) the execution and
delivery of the Credit Agreement and (y) the date that is 60 days following the date of the Commitment Letter. Ticking Fees will be payable quarterly in arrears and on each Closing Date or any earlier date on which the commitments
terminate.

		
	 Duration Fee (Latam):
	  	 The Borrower will pay to each Lender on each of the dates set forth below a duration fee equal to the applicable percentage
of the aggregate principal amount of such Lender’s Loans outstanding under the Latam Subfacility on each such date: (i) on the date that is 90 days after the

  
 Annex A-I-1 

			
		  	 Latam Closing Date, 0.50%, (ii) on the date that is 180 days after the Latam Closing Date, 0.75% and (iii) on the date
that is 270 days after the Latam Closing Date, 1.00%.

		
	Duration Fee (Europe):	  	 The Borrower will pay to each Lender on each of the dates set forth below a duration fee equal to the applicable percentage
of the sum of (i) the aggregate principal amount of such Lender’s Loans outstanding under the Europe Subfacility on each such date and (ii) the undrawn commitment of such Lender under the Europe Subfacility outstanding on each such
date: (i) on the date that is 90 days after the First Europe Closing Date, 0.50%, (ii) on the date that is 180 days after the First Europe Closing Date, 0.75% and (iii) on the date that is 270 days after the First Europe Closing Date,
1.00%.

		
	Facility Pricing Grid	  	
	(bps per annum):	  	

  

					
	  	  	 Ratings

 
	  	
EURIBOR Margin
  

	
Pricing Level 1
	  	> A- / A3 / A-	  	87.5
	 Pricing
Level 2
	  	BBB+ / Baa1 / BBB+	  	100.0
	 Pricing
Level 3
	  	BBB / Baa2 / BBB	  	112.5
	 Pricing
Level 4
	  	BBB- / Baa3 / BBB-	  	125.0
	 Pricing
Level 5
	  	BB+ / Ba1 / BB+	  	150.0
	 Pricing
Level 6
	  	< BB / Ba2 / BB	  	175.0

  

			
		 	 Margins set forth for each Pricing Level will increase on the 90th day following the applicable Margin Ratchet Trigger Date
and on each 90th day thereafter as provided under “Interest Rates” above. The applicable Pricing Level will be based on the highest Ratings from any of Moody’s, S&P and Fitch of the Index Debt; provided that if the
lowest Rating received from any such rating agency is two or more rating levels below the highest Rating received from any other such rating agency, the applicable Pricing Level shall be the level that is one level below the highest of such Ratings;
provided, further that if two Ratings are at the same highest level, the applicable Pricing Level shall be the level of such highest Rating. For purposes of the foregoing, if the ratings established by Moody’s, S&P and Fitch
shall be changed (other than as a result of a change in the rating system of Moody’s, S&P or Fitch), such change shall be effective as of the date on which it is first announced by the applicable rating agency. Each change in the margins
shall apply during the period commencing on the next business day after the effective date of such change and ending on the date immediately preceding the effective date of the next such change. For any day when no rating is in effect, the EURIBOR
Margin shall be the rate set forth opposite Pricing Level 6.

  
 Annex A-I-2 

 SCHEDULE II TO ANNEX A 

CONFIDENTIAL 
 Additional
Representation and Warranty 
 All written information furnished by or on behalf of the Borrower to the Administrative Agent
(including for distribution to the Lenders) (other than information of a general economic or general industry nature) in connection with the syndication of, or compliance with, the Loan Documents was, when taken as a whole, true and correct in all
material respects as of the date such information was furnished to the Administrative Agent (including for distribution to Lenders) and did not contain any untrue statement of a material fact as of such date or omit to state a material fact
necessary to make the statements contained therein, in light of the circumstances under which they were made, not materially misleading (after giving effect to all supplements or updates thereto); provided that with respect to any projections
or other forward-looking information, the Borrower represents only that such projections and other forward-looking information were prepared in good faith based upon assumptions that were believed in good faith by the Borrower to be reasonable at
the time furnished to the Administrative Agent (it being understood and agreed that financial projections are subject to significant uncertainties and contingencies, many of which are beyond the Borrower’s control, that no assurance can be
given that any particular financial projection will be realized and that financial projections are not a guarantee of financial performance and actual results may differ from financial projections and such differences may be material). 

  
 Annex A-II-1 

 ANNEX B 

CONFIDENTIAL 
 Project Scala

 Summary of Additional Conditions Precedent to the Facility 

Capitalized terms used but not defined in this Annex B have the meanings given thereto in the Commitment Letter. 

1.     Acquisition: The Acquisition in respect of which the drawing is being made shall have been consummated, or
substantially concurrently with the funding under the Facility shall be consummated, in each case pursuant to and on the terms and conditions set forth in the respective Acquisition Agreements and without giving effect to amendments, supplements,
waivers or other modifications to or consents under the Acquisition Agreements that are adverse in any material respect to the Lenders and that have not been approved by the Arranger, such approval not to be unreasonably withheld or delayed, (it
being understood and agreed that (a) any decrease in the purchase price shall be deemed to be materially adverse to the Lenders unless the aggregate decrease does not exceed 10% and is allocated 100% to decrease the Facility and (b) any
increase in the purchase price shall be deemed not to be materially adverse so long as not financed with the incurrence of indebtedness). 

2.     Financial Statements. The Arranger shall have received in the case of the Borrower, on or prior to the
Initial Closing Date, (i) audited consolidated balance sheets and related audited statements of operations, stockholders’ equity and cash flows of the Borrower for each of the three fiscal years most recently ended at least 60 days prior
to such Closing Date (and audit reports for such financial statements shall not be subject to any qualification or “going concern” disclosures) and (ii) unaudited consolidated balance sheets and related unaudited statements of
operations, stockholders’ equity and cash flows of the Borrower for each subsequent fiscal quarter ended at least 40 days prior to such Closing Date. 

3.     Fees and Expenses. All costs, fees, expenses and other compensation required by the Commitment Letter and
the Fee Letter to be payable to the Arranger, the Administrative Agent or the Lenders at or prior to each Closing Date (in the case of expenses, to the extent invoiced at least two business days prior to such Closing Date) shall have been paid to
the extent due. 
 4.     Customary Closing Documents. The Arranger shall have received (a) a customary
legal opinion, organizational documents of the Borrower, evidence of corporate authority of the Borrower, a good standing certificate of the Borrower in its jurisdiction of organization, a secretary’s certificate of the Borrower, a customary
officer’s certificate of the Borrower and a notice of borrowing by the Borrower and (b) delivery of a customary solvency certificate in the form of Schedule I to this Annex B certifying that the Borrower and its subsidiaries are solvent
(on a consolidated basis). The Arranger shall have received at least five business days prior to the Initial Closing Date all documentation and other information required by bank regulatory authorities under applicable “know-your-customer”
and anti-money laundering rules and regulations, including the Patriot Act and the Beneficial Ownership Regulation, to the extent requested at least ten business days prior to the Closing Date. 

5.     Accuracy of Representations. On each Closing Date, the Specified Representations and the Specified
Acquisition Agreement Representations shall be true and correct in all material respects and there shall not have occurred and be continuing any Major Default (after giving effect to the Transactions) under the Facility. For purposes of the
foregoing, (a) “Specified Acquisition Agreement Representations” means the representations and warranties made by the Seller with respect to the Acquired Assets in the Acquisition Agreements that are material to the interests of the
Arranger or the Lenders, but only to the extent that the Borrower has the right under the Acquisition Agreements not to consummate the Acquisition, or to terminate its obligations under the relevant Acquisition Agreements, as a result of such
representations and warranties in such Acquisition Agreement not being true and correct, (b) “Specified Representations” means representations and warranties of the Borrower with respect to due organization; organizational

  
 Annex B-1 

 
power and authority to enter into the Transactions and documentation relating to the Facility; due authorization, execution, delivery and enforceability of the Credit Agreement; no conflicts with
organizational documents; no conflicts with material debt instruments of the Borrower in excess of $400 million (including, without limitation, the Existing Credit Facilities) after giving effect to the Transactions (but without giving effect
to any materiality or “Material Adverse Effect” Qualification); Investment Company Act; Federal Reserve Regulations; compliance with OFAC and use of proceeds not in violation of the Foreign Corrupt Practices Act; solvency (substantially in
the form set forth in Schedule 1 to Annex B); and Patriot Act and (c) “Major Default” shall mean any payment or bankruptcy event of default. 

Notwithstanding anything in this Commitment Letter, the Fee Letter, the definitive documentation for the Facility or any other letter
agreement or other undertaking concerning the financing of the Transactions to the contrary, the only representations the accuracy of which shall be a condition to availability of the Facility on each Closing Date shall be the Specified
Representations and the Specified Acquisition Agreement Representations. For the avoidance of doubt, all representations and warranties under the Facility shall be made on the effective date and on each Closing Date of the Facility. This paragraph,
and the provisions herein, being the “Certain Funds Provision”. 

  
 Annex B-2 

 SCHEDULE I TO ANNEX B 

CONFIDENTIAL 
 FORM OF SOLVENCY
CERTIFICATE 
 SOLVENCY CERTIFICATE 

of 
 BORROWER AND ITS
SUBSIDIARIES 
 Pursuant to Section [●] of the Credit Agreement, the undersigned hereby certifies, solely in such
undersigned’s capacity as [chief financial officer] [chief accounting officer] [specify other officer with equivalent duties] of the Borrower, and not individually, as follows: 

As of the date hereof, after giving effect to the consummation of the Transactions, including the making of the Loans under the
Credit Agreement, and after giving effect to the application of the proceeds of such indebtedness: 
  

	 	a.	 The fair value of the assets of the Borrower and its subsidiaries, on a consolidated basis, exceeds, on a
consolidated basis, their debts and liabilities, subordinated, contingent or otherwise; 

  

	 	b.	 The present fair saleable value of the property of the Borrower and its subsidiaries, on a consolidated
basis, is greater than the amount that will be required to pay the probable liability, on a consolidated basis, of their debts and other liabilities, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and
matured; 

  

	 	c.	 The Borrower and its subsidiaries, on a consolidated basis, are able to pay their debts and liabilities,
subordinated, contingent or otherwise, as such liabilities become absolute and matured; and 

  

	 	d.	 The Borrower and its subsidiaries, on a consolidated basis, are not engaged in, and are not about to engage
in, business for which they have unreasonably small capital. 

 For purposes of this Certificate, the
amount of any contingent liability at any time shall be computed as the amount that would reasonably be expected to become an actual and matured liability. Capitalized terms used but not otherwise defined herein shall have the meanings assigned to
them in the Credit Agreement. 
 [Signature Page Follows] 

  
 Annex B-I-1 

 SCHEDULE I TO ANNEX B 

CONFIDENTIAL 
 IN
WITNESS WHEREOF, the undersigned has executed this Certificate in such undersigned’s capacity as [chief financial officer] [chief accounting officer] [specify other officer with equivalent duties] of the Borrower, on behalf of the
Borrower, and not individually, as of the date first stated above. 
  

	
	 [___________________]

	
	 By:__________________________

	 Name:

	 Title:

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