Cellnex considers the inclusion and participation of stakeholders to be essential to its sustainability efforts. Stakeholders have been fundamental to the ESG Master Plan since its development and continue to play a key role in the company's regular materiality analyses. In addition, stakeholder engagement is embedded in the maintenance of Cellnex's Environmental Management System (ISO 14001), integrated into the Global IMS (Integrated Management System), in which their needs and expectations regarding environmental matters are periodically assessed and channels are implemented to guarantee communication with them. In this sense, it should be noted that the company applies external stakeholder engagement strategies on a national level. Moreover, Cellnex Telecom, Cellnex Spain and the Cellnex Foundation collaborate with the Life Nature Funds to implement measures for conserving agro-steppe habitats and species in the Natura 2000 Network. This project connects Cellnex with key stakeholders, such as the involved NGOs and landowners to collaborate on the conservation and restoration of crucial habitats.

The anticipated financial effects are considered to have a low potential financial impact for the Company. The risks and opportunities are evaluated in accordance with Cellnex's Global Risk Management methodology, which establishes that an economic impact of <1% of revenue is low. The time horizons are defined as short-term (0 to 5 years), medium-term (5 to 10 years), and long-term (more than 10 years).