In response to its assessment of workforce impacts, Cellnex has implemented several strategic initiatives to address any potential negative effects on employees and promote a more inclusive, fair, and equitable work environment: 1. Commitment to equal treatment and opportunities. 2. Strategic initiatives for equity and inclusion. 3. Work-Life balance and employee well-being. 4. Diversity and retention strategy.

Cellnex ensures that employees’ legal representatives are regularly informed about the company’s strategy and business model. In compliance with Article 64.2 of the Spanish Workers’ Statute, the company provides quarterly updates on its economic situation, activity evolution, production, and sales, ensuring that worker representatives are aware of key developments.

Cellnex recognises the role that its strategy and business model play in both the creation and mitigation of significant material impacts on its workforce. The company is committed to ensuring that its business practices support the well-being of its employees, minimising negative impacts, and creating an inclusive and supportive working environment.

Cellnex ensures that employees’ legal representatives are regularly informed about the company’s strategy and business model. In compliance with Article 64.2 of the Spanish Workers’ Statute, the company provides quarterly updates on its economic situation, activity evolution, production, and sales, ensuring that worker representatives are aware of key developments. Cellnex also keeps employees and their representatives informed about changes to the company’s business strategy and model through meetings and internal communications at the group level, which are complemented at local level.

In recent years, there has been a growing demand for sustainability-related information within the evolving business environment. It has become essential for companies to integrate sustainability into their core business operations. Within this context, identifying the company's key concerns related to Environmental, Social and Governance (ESG) issues is crucial to meet the expectations and requirements of stakeholders. In this context, the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS), focus on identifying the main impacts, risks and opportunities (IROs) through the double materiality assessment. This concept involves assessing the organisation's impact on the environment and society (impact materiality) alongside the effect of Environmental, Social and Governance (ESG) issues on the company's capacity to generate value (financial materiality). In 2024, Cellnex carried out a double materiality assessment following the requirements of the CSRD and the EFRAG guidelines. The double materiality assessment was presented to the Executive and ESG Committees, validated by the Nominations, Remunerations, and Sustainability Committee, and presented to the Board of Directors. The management of each of the impacts generated by Cellnex is explained throughout the present Non-Financial Information Statement and Sustainability Information.

Climate Change:

• Opportunity (OA): Offer new low-carbon services with advanced technology and climate benefits to meet customer and investor expectations and align with international initiatives such as SBTi.
• Risk (VC): Extreme climate events due to climate change, including forest fires, strong winds, storms, snow and river flooding can cause potential damage to Cellnex telecom infrastructure and disrupt the value chain.
• Negative impact (OA): Cellnex’s carbon footprint (CO2 emissions Scope 1, 2 and Scope 3) has a negative impact and contributes to climate change.

Energy Management:

• Positive impact (OA): Improving the energy efficiency of the services provided by Cellnex by promoting the renewal of more energy efficient equipment and carrying out regular maintenance.
• Opportunity (OA): Reducing energy consumption through the implementation of energy efficiency measures and resilient access to renewable energy at a competitive price to meet Cellnex’s energy needs and provide customers with a sustainable and efficient infrastructure.
• Negative impact (VC): Environmental impact of fossil fuel use and non-renewable energy consumption and management at Cellnex sites / infrastructure.

Biodiversity:

• Negative impact (OA): Cellnex sites are located in some nature conservation areas where the company’s activities may have a negative impact on biodiversity (e.g. bird life).
• Negative impact (VC): Environmental impact on biodiversity, stemming from Cellnex’s value chain processes.
• Risk (VC): Depletion of natural resources along the value chain (material extraction, waste management, etc.) and changes in land use that exacerbate the degradation and alteration of biodiversity.
• Risk (OA): The compliance with increasing biodiversity regulation could pose a risk for the operations.

Gender and Cultural Diversity:

• Negative impact (OA): As a pan-European company, Cellnex faces the challenge of achieving inclusion and cultural integration to ensure cohesion among employees from different cultural backgrounds. In addition, technology is a predominantly male sector and the company has a responsibility to address and promote gender inclusion.

Talent Attraction and Retention:

• Negative impact (OA): If high turnover rates are experienced, either due to the complexity of adapting to employees’ new needs or increased competition in the market, retaining existing talent and attracting new professionals becomes challenging, potentially resulting in a decrease in internal expertise.
• Risk (OA): The complexity of the highly specialised technological labour market increases competition and the difficulty of finding talent with the necessary experience, which means a potential risk for the company.

Health and Safety in the Value Chain:

• Risk (VC): Cellnex telecommunications sites, facilities or products/services that do not comply with applicable health and safety regulations could pose a significant risk to the safety and integrity of employees in the value chain, as well as to the company’s business continuity and reputation.

Human Rights in the Supply Chain:

• Negative Impact (VC): An incomplete assessment of human rights along the value chain, without proper due diligence on labour issues, could result in a failure to meet required ethical and legal standards and have negative impacts on people.

Business Ethics and Compliance:

• Risk (OA): Corruption and/or misconduct in Cellnex’s operations, especially in the allocation of contracts, licences, anti-competitive practices or dominance can put the company at risk.

Responsible the Supply Chain:

• Risk (OA): If the supply chain does not meet sustainability criteria, the company could be exposed to a potential environmental, social and ethical risk.

Cybersecurity:

• Positive impact (OA): Cybersecurity measures that protect the company from unauthorized access, protect the operations and ensure the quality and the integrity of the services provided by Cellnex.

Operational Efficiency and Business Continuity:

• Positive impact (OA): As a neutral infrastructure operator, Cellnex can improve the efficiency of telecommunications infrastructure by avoiding duplication. Increasing operational efficiency has a positive impact on the sustainability of the telecommunications sector.
• Risk (OA): Lack of business adaptability to new technological or ESG regulatory requirements can be a risk to business continuity.

In recent years, there has been a growing demand for sustainability-related information within the evolving business environment. It has become essential for companies to integrate sustainability into their core business operations. Within this context, identifying the company's key concerns related to Environmental, Social and Governance (ESG) issues is crucial to meet the expectations and requirements of stakeholders. In this context, the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS), focus on identifying the main impacts, risks and opportunities (IROs) through the double materiality assessment. This concept involves assessing the organisation's impact on the environment and society (impact materiality) alongside the effect of Environmental, Social and Governance (ESG) issues on the company's capacity to generate value (financial materiality). In 2024, Cellnex carried out a double materiality assessment following the requirements of the CSRD and the EFRAG guidelines. The double materiality assessment was presented to the Executive and ESG Committees, validated by the Nominations, Remunerations, and Sustainability Committee, and presented to the Board of Directors. The management of each of the impacts generated by Cellnex is explained throughout the present Non-Financial Information Statement and Sustainability Information.

Climate Change:

• Opportunity (OA): Offer new low-carbon services with advanced technology and climate benefits to meet customer and investor expectations and align with international initiatives such as SBTi.
• Risk (VC): Extreme climate events due to climate change, including forest fires, strong winds, storms, snow and river flooding can cause potential damage to Cellnex telecom infrastructure and disrupt the value chain.
• Negative impact (OA): Cellnex’s carbon footprint (CO2 emissions Scope 1, 2 and Scope 3) has a negative impact and contributes to climate change.

Energy Management:

• Positive impact (OA): Improving the energy efficiency of the services provided by Cellnex by promoting the renewal of more energy efficient equipment and carrying out regular maintenance.
• Opportunity (OA): Reducing energy consumption through the implementation of energy efficiency measures and resilient access to renewable energy at a competitive price to meet Cellnex’s energy needs and provide customers with a sustainable and efficient infrastructure.
• Negative impact (VC): Environmental impact of fossil fuel use and non-renewable energy consumption and management at Cellnex sites / infrastructure.

Biodiversity:

• Negative impact (OA): Cellnex sites are located in some nature conservation areas where the company’s activities may have a negative impact on biodiversity (e.g. bird life).
• Negative impact (VC): Environmental impact on biodiversity, stemming from Cellnex’s value chain processes.
• Risk (VC): Depletion of natural resources along the value chain (material extraction, waste management, etc.) and changes in land use that exacerbate the degradation and alteration of biodiversity.
• Risk (OA): The compliance with increasing biodiversity regulation could pose a risk for the operations.

Gender and Cultural Diversity:

• Negative impact (OA): As a pan-European company, Cellnex faces the challenge of achieving inclusion and cultural integration to ensure cohesion among employees from different cultural backgrounds. In addition, technology is a predominantly male sector and the company has a responsibility to address and promote gender inclusion.

Talent Attraction and Retention:

• Negative impact (OA): If high turnover rates are experienced, either due to the complexity of adapting to employees’ new needs or increased competition in the market, retaining existing talent and attracting new professionals becomes challenging, potentially resulting in a decrease in internal expertise.
• Risk (OA): The complexity of the highly specialised technological labour market increases competition and the difficulty of finding talent with the necessary experience, which means a potential risk for the company.

Health and Safety in the Value Chain:

• Risk (VC): Cellnex telecommunications sites, facilities or products/services that do not comply with applicable health and safety regulations could pose a significant risk to the safety and integrity of employees in the value chain, as well as to the company’s business continuity and reputation.

Human Rights in the Supply Chain:

• Negative Impact (VC): An incomplete assessment of human rights along the value chain, without proper due diligence on labour issues, could result in a failure to meet required ethical and legal standards and have negative impacts on people.

Business Ethics and Compliance:

• Risk (OA): Corruption and/or misconduct in Cellnex’s operations, especially in the allocation of contracts, licences, anti-competitive practices or dominance can put the company at risk.

Responsible the Supply Chain:

• Risk (OA): If the supply chain does not meet sustainability criteria, the company could be exposed to a potential environmental, social and ethical risk.

Cybersecurity:

• Positive impact (OA): Cybersecurity measures that protect the company from unauthorized access, protect the operations and ensure the quality and the integrity of the services provided by Cellnex.

Operational Efficiency and Business Continuity:

• Positive impact (OA): As a neutral infrastructure operator, Cellnex can improve the efficiency of telecommunications infrastructure by avoiding duplication. Increasing operational efficiency has a positive impact on the sustainability of the telecommunications sector.
• Risk (OA): Lack of business adaptability to new technological or ESG regulatory requirements can be a risk to business continuity.

In recent years, there has been a growing demand for sustainability-related information within the evolving business environment. It has become essential for companies to integrate sustainability into their core business operations. Within this context, identifying the company's key concerns related to Environmental, Social and Governance (ESG) issues is crucial to meet the expectations and requirements of stakeholders. In this context, the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS), focus on identifying the main impacts, risks and opportunities (IROs) through the double materiality assessment. This concept involves assessing the organisation's impact on the environment and society (impact materiality) alongside the effect of Environmental, Social and Governance (ESG) issues on the company's capacity to generate value (financial materiality). In 2024, Cellnex carried out a double materiality assessment following the requirements of the CSRD and the EFRAG guidelines. The double materiality assessment was presented to the Executive and ESG Committees, validated by the Nominations, Remunerations, and Sustainability Committee, and presented to the Board of Directors. The management of each of the impacts generated by Cellnex is explained throughout the present Non-Financial Information Statement and Sustainability Information.

Climate Change:

• Opportunity (OA): Medium
• Risk (VC): Medium

Energy Management:

• Opportunity (OA): Short

Biodiversity:

• Risk (VC): Medium
• Risk (OA): Short

Talent Attraction and Retention:

• Risk (OA): Short

Health and Safety in the Value Chain:

• Risk (VC): Short

Business Ethics and Compliance:

• Risk (OA): Short

Responsible the Supply Chain:

• Risk (OA): Short

Operational Efficiency and Business Continuity:

• Risk (OA): Medium

Note: The temporal horizon is divided in three categories: Short, Medium and Long. Short is referred as a horizon of up to 1 year, Medium is referred as a horizon between 1 and 5 years and Long is referred as a horizon of more than 5 years.