In line with the Paris Agreement, which aims to limit global warming to well below 2°C and strive to limit it to 1.5°C below pre-industrial levels, priority is given to the development of actions aimed at reducing GHG emissions, in accordance with Cellnex's long-term roadmap, as outlined in its Net-Zero Strategy with specific medium- and long-term objectives, structured to progressively achieve full carbon neutrality across all scopes by 2050.

Cellnex has translated its climate commitment into a comprehensive corporate strategy aimed at reducing and neutralising its emissions. This strategy is underpinned by specific medium- and long-term objectives, framed in seven pillars that will enable the company to achieve its Net-Zero target in 2050. These seven key pillars are: 1. Science-based reduction targets: addressing the key scopes of Cellnex’s carbon footprint. 2. Energy transition: 100% renewable energy by 2025, efficiency, smart metering and self-generation. 3. Value chain: engagement and emission reduction targets. 4. Circular economy: green sourcing, eco-design and eco-strategies. 5. Sustainable mobility: transition to green fleets and travel and mobility plans. 6. Neutralisation of residual emissions: offsetting. 7. Transparency and governance: carbon management at the core of the company’s activity. During 2024, Cellnex has worked on modelling the Net-Zero target to extend the scope of existing initiatives up to this year by identifying additional emission reduction levers. To this purpose, the company has carried out an analysis of the current situation and future positioning, analysing the existing organisation, policies and strategy. This analysis is based on external drivers and stoppers, internal gears and reduction levers: 1. Internal changes: changes in a Cellnex activity (business growth, business model change, etc.) 2. External drivers and stoppers: factors that are largely beyond the control of the company (grid decarbonisation, network evolution, etc.) 3. Reduction levers: Cellnex’s initiatives to reduce emissions.

The document mentions that climate change management is led by the Chief Strategy Officer, who reports directly to the CEO, indicating integration into the company's strategy. The company is committed to periodically reviewing its Environment and Climate Change Policy, which is communicated effectively across the organisation and made available to stakeholders to promote transparency. Oversight of the climate change strategy is carried out by the Nominations, Remuneration and Sustainability Committee (NRSC), which reports to the Board of Directors.

The document does not explicitly state whether the transition plan for climate change mitigation has been approved by the administrative, management, and supervisory bodies.

Since its foundation, Cellnex has been working to limit the effects of climate change and to contribute to the decarbonisation of the economy. The company is aware that it is essential to go much further. If no drastic actions are taken to limit the temperature increase to 1.5°C by 2030, the potentially catastrophic consequences of runaway climate change for both people and the natural systems that sustain them could be unavoidable. Therefore, taking action without delay is imperative.

Total GHG emissions (location based): 643,355.32 tCO2eq Total GHG emissions (market based): 319,086.58 tCO2eq