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.

Cellnex has analysed the potential impact of the key financial magnitudes associated with physical and transition climate risks, as well as the potential to capitalise on climate-related opportunities. This analysis includes the projection of potential financial impacts in the scenarios considered for the short, medium or long term, depending on each risk or opportunity.