Düsseldorf, 9 December 2021 – Vantage Towers, a leading tower company in Europe, has entered into a long-term contract with 1&1 for the provision of passive infrastructure to build Germany’s fourth mobile network. Vantage Towers will be providing 1&1 access to up to 5,000 existing sites.

Vivek Badrinath, CEO of Vantage Towers: “The partnership with 1&1 is another important milestone for us, and it demonstrates our ability to attract exciting organic growth opportunities. By co-locating on our sites, 1&1 can proceed with a timely launch of its 5G network cost effectively and with high quality. We’re delighted to be supporting the fast roll-out of 5G in Germany and a sustainable digital transformation in Europe.”

Ralph Dommermuth, CEO of 1&1 AG: “With Vantage Towers, we have gained a strong partner for the passive infrastructure of our 5G mobile network. By cooperating with established tower companies, we want to primarily use existing antenna sites. This is environmentally friendly, conserves resources and at the same time accelerates our rollout.”

Access to at least 3,800 sites by the end of 2025

The first sites will be made available next year with the aim of ensuring access to at least 3,800 sites by the end of calendar year 2025. These will predominantly be existing sites. The contract has a first term until the end of 2040, with the option for 1&1 to extend until 2060.

The agreement with 1&1 underpins confidence in the Company's ability to deliver at the upper end of its medium-term targets*. In particular, the Company’s mid-term tenancy ratio target of >1.5x is now highly secured as a result of the additional 3,800 tenancies contracted with 1&1, delivering increased revenue growth visibility for the Company. Vantage Towers’ guidance for the current financial year (FY 2021-22) is unchanged.

* Assuming 3,800 additional tenancies by the end of 2025, out of a potential up to 5,000 sites.