Crown Castle Issues Open Letter to Shareholders - Seite 2

The Board values feedback from all of its shareholders, and as we advance these initiatives, we are committed to acting in our shareholders’ best interests by positioning Crown Castle for long-term success and value creation.

Recently, Boots Capital and in particular one of its principals, Ted Miller, have publicly provided suggestions regarding our fiber and small cell business and the operations of our tower business. We believe a number of these statements are misleading to the market, and we want to ensure our shareholders have heard all of the facts. Included below are responses to certain of Ted Miller’s claims.

Ted Miller Claim1	Setting the Record Straight
Claim: Crown Castle’s Board “continues to refuse to meaningfully engage with us or our value enhancing proposal”	Crown Castle has engaged extensively with Ted Miller since the outset of his campaign. On December 27, 2023, Rob Bartolo and Interim CEO Tony Melone had a meeting with Mr. Miller in which Mr. Miller presented Boots Capital’s proposals for the Company. On January 30, 2024, members of the Board and Crown Castle advisors met for nearly two hours with representatives of Boots Capital, namely Messrs. Green, Miller and Rice, to discuss Boots Capital’s proposed plan for the Company. On February 2, 2024, the Board invited Mr. Miller to submit a proposal for the fiber business, which he declined to do. On February 8 and 9, 2024, the NESG Committee participated in interviews with each of the director nominees suggested by Boots Capital. On March 3, 2024, in response to Morgan Stanley’s outreach on behalf of the Company, Mr. Miller stated that although he had reached out to Company executives, Mr. Miller did not have any new proposal to make or discuss. On March 15, 2024, Tony Melone sent a letter to Mr. Miller requesting that he identify his purported "25 prospective buyers and financing sources”2 and reiterated the Board's invitation to the Boots Group and such interested parties to submit any proposals for a fiber transaction. On March 19, 2024, Mr. Bartolo met with Mr. Miller in person to discuss Mr. Miller’s campaign and had a follow-up call with Mr. Miller on March 20, 2024. On March 21, 2024, the Board met with all of the Boots Capital nominees and discussed their qualifications and their proposals for the Company. Later that day, Mr. Melone also had a follow-up discussion with Mr. Miller.
Claim: As one of the founders and a substantial shareholder, Mr. Miller has “a special perch from which to drive a cultural and operational reawakening”	Mr. Miller’s purported ownership of Crown Castle represents significantly less than half of one percent, yet he is seeking to hand pick 33% of the Company’s Board and secure 17% of the Board for members of his family, including attempting to become Executive Chairman of the Board.