American Tower (AMT) 8-K Completes New $1.5 Billion Term Loan

Exhibit 99.2

Contact: Leah Stearns

Vice President, Investor Relations & Capital Markets

Telephone: (617) 375-7500

AMERICAN TOWER CORPORATION REPORTS

THIRD QUARTER AND YEAR TO DATE 2013 FINANCIAL RESULTS

CONSOLIDATED HIGHLIGHTS
Third Quarter 2013		Year to Date 2013
•	Total revenue increased 13.3% to $807.9 million	•	Total revenue increased 14.8% to $2,419.4 million
•	Operating income increased 4.5% to $308.9 million	•	Operating income increased 9.6% to $921.4 million
•	Cash provided by operating activities increased 1.8% to $359.9 million	•	Cash provided by operating activities increased 2.5% to $1,144.4 million
SEGMENT HIGHLIGHTS
Third Quarter 2013		Year to Date 2013
•	Domestic rental and management segment revenue increased 10.3% to $529.9 million	•	Domestic rental and management segment revenue increased 8.7% to $1,566.7 million
•	International rental and management segment revenue increased 22.8% to $266.6 million	•	International rental and management segment revenue increased 27.9% to $796.5 million
•	Network development services segment revenue was $11.3 million	•	Network development services segment revenue was $56.2 million

Boston, Massachusetts – October 30, 2013: American Tower Corporation (NYSE: AMT) today reported financial results for the quarter ended September 30, 2013.

Jim Taiclet, American Tower’s Chief Executive Officer stated, “Consumers in the U.S. and around the world love their smartphones and tablets, continuously upgrading devices and using more applications and bandwidth. Leading mobile operators are aggressively upgrading their networks to capture this business, further driving demand for tower space. Consequently, strong leasing activity across our global portfolio led to core organic growth of over 9% in the U.S. and 14% in our international segment in the third quarter.

We anticipate strong leasing demand for communications site real estate going forward, and through our recently announced acquisitions of Global Tower Partners and portfolios from Nextel International, we have reweighted our asset base toward our three original markets, the U.S., Mexico and Brazil. These investments, coupled with the diversification and growth prospects of our tower assets in Europe, Africa, and Asia, provide the strategic positioning to achieve our long-term objective of driving mid-teen annual growth in AFFO per share.”

THIRD QUARTER 2013 OPERATING RESULTS OVERVIEW

American Tower generated the following operating results for the quarter ended September 30, 2013 (unless otherwise indicated, all comparative information is presented against the quarter ended September 30, 2012).

Total revenue increased 13.3% to $807.9 million and total rental and management revenue increased 14.2% to $796.6 million. Total rental and management revenue Core Growth was approximately 18.5%. Please refer to the selected statement of operations detail on page 13, which highlights the items affecting all Core Growth percentages for the quarter ended September 30, 2013.

Total rental and management Gross Margin increased 15.3% to $604.4 million. Total selling, general, administrative and development expense was $97.8 million, including $14.7 million of stock-based compensation expense. Adjusted EBITDA increased 13.9% to $527.9 million, Core Growth in Adjusted EBITDA was 17.4%, and Adjusted EBITDA Margin was 65%.

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Adjusted Funds From Operations (AFFO) increased 24.4% to $367.3 million, AFFO per Share increased 24.3% to $0.92, and Core Growth in AFFO was approximately 25.9%.

Operating income increased 4.5% to $308.9 million, and net income attributable to American Tower Corporation decreased 22.4% to $180.1 million. The decrease was primarily attributable to the Company’s recognition of unrealized non-cash losses of $30.9 million associated with fluctuations in foreign currency exchange rates related to intercompany loans and similar unaffiliated balances. Net income attributable to American Tower Corporation per basic common share decreased 22.0% to $0.46, and net income attributable to American Tower Corporation per diluted common share decreased 22.4% to $0.45.

Cash provided by operating activities increased 1.8% to $359.9 million.

Segment Results

Domestic Rental and Management Segment – Domestic rental and management segment revenue increased 10.3% to $529.9 million, which represented 66% of total revenues, and domestic rental and management segment Gross Margin increased 12.0% to $434.7 million. Domestic rental and management segment Operating Profit increased 11.4% to $410.2 million, and domestic rental and management segment Operating Profit Margin was 77%.

International Rental and Management Segment – International rental and management segment revenue increased 22.8% to $266.6 million, which represented 33% of total revenues. International rental and management segment Gross Margin increased 25.0% to $169.7 million, while international rental and management segment Operating Profit increased 24.7% to $138.0 million. International rental and management segment Operating Profit Margin was 52% (71%, excluding the impact of $71.3 million of pass-through revenues).

Network Development Services Segment – Network development services segment revenue was $11.3 million, which represented 1% of total revenues. Network development services segment Gross Margin was $6.5 million, and network development services segment Operating Profit was $4.6 million. Network development services segment Operating Profit Margin was 41%.

YEAR TO DATE 2013 OPERATING RESULTS OVERVIEW

American Tower generated the following operating results for the nine months ended September 30, 2013 (unless otherwise indicated, all comparative information is presented against the nine months ended September 30, 2012).

Total revenue increased 14.8% to $2,419.4 million and total rental and management revenue increased 14.5% to $2,363.2 million. Total rental and management revenue Core Growth was approximately 18.9%. Please refer to the selected statement of operations detail on page 13, which highlights the items affecting all Core Growth percentages for the nine months ended September 30, 2013.

Total rental and management Gross Margin increased 14.0% to $1,789.2 million. Total selling, general, administrative and development expense was $298.7 million, including $52.0 million of stock-based compensation expense. Adjusted EBITDA increased 13.3% to $1,576.2 million, Core Growth in Adjusted EBITDA was 17.2%, and the Adjusted EBITDA Margin was 65%.

AFFO increased 17.7% to $1,091.4 million, AFFO per Share increased 17.7% to $2.73, and Core Growth in AFFO was approximately 21.7%.

Operating income increased 9.6% to $921.4 million, while net income attributable to American Tower Corporation decreased 10.0% to $451.4 million. The decrease was primarily attributable to the Company’s recognition of unrealized non-cash losses of $151.7 million associated with fluctuations in foreign currency exchange rates related to intercompany loans and similar unaffiliated balances. Net income attributable to American Tower Corporation per basic common share decreased 10.2% to $1.14, and net income attributable to American Tower Corporation per diluted common share decreased 10.3% to $1.13.

Cash provided by operating activities increased 2.5% to $1,144.4 million.

Segment Results

Domestic Rental and Management Segment – Domestic rental and management segment revenue increased 8.7% to $1,566.7 million, which represented 65% of total revenues. Domestic rental and management segment Gross Margin increased 10.0% to $1,284.4 million, while domestic rental and management segment Operating Profit increased 9.6% to $1,212.7 million. Domestic rental and management segment Operating Profit Margin was 77%.

International Rental and Management Segment – International rental and management segment revenue increased 27.9% to $796.5 million, which represented 33% of total revenues. International rental and management segment Gross Margin increased 25.8% to $504.8 million, while international rental and management segment Operating Profit increased 23.5% to $411.0 million. International rental and management segment Operating Profit Margin was 52% (70%, excluding the impact of $212.2 million of pass-through revenues).

Network Development Services Segment – Network development services segment revenue was $56.2 million, which represented 2% of total revenues. Network development services segment Gross Margin was $33.8 million, and network development services segment Operating Profit was $26.7 million. Network development services segment Operating Profit Margin was 48%.

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Please refer to “Non-GAAP and Defined Financial Measures” on pages 5 and 6 for definitions of Gross Margin, Operating Profit, Operating Profit Margin, Adjusted EBITDA, Adjusted EBITDA Margin, NAREIT Funds From Operations, Adjusted Funds From Operations, Adjusted Funds From Operations per Share, Core Growth and Net Leverage Ratio. For additional financial information, including reconciliations to GAAP measures, please refer to the unaudited selected financial information on pages 11 through 14.

INVESTING OVERVIEW

Distributions – On October 7, 2013, the Company paid its third quarter distribution of $0.28 per share, or a total of approximately $110.5 million, to stockholders of record at the close of business on September 23, 2013.

During the nine months ended September 30, 2013, the Company declared an aggregate of $0.81 per share in distributions, or a total of approximately $320.0 million, to its stockholders. Subject to the discretion of the Company’s Board of Directors, the Company expects to continue paying regular distributions, the amount and timing of which will be determined by the Board.

Cash Paid for Capital Expenditures – During the third quarter of 2013, total capital expenditures of $167.6 million included $80.7 million for discretionary capital projects, including spending to complete the construction of 48 towers and the installation of 2 distributed antenna system networks and 509 shared generators domestically and the construction of 417 towers and the installation of 3 distributed antenna system networks internationally; $22.7 million to purchase land under the Company’s communications sites; $7.6 million for start-up capital projects in recently launched markets; $30.0 million for the redevelopment of existing communications sites to accommodate new tenant equipment; and $26.7 million for capital improvements and corporate capital expenditures.

During the nine months ended September 30, 2013, total capital expenditures of $448.2 million included $210.9 million for discretionary capital projects, including spending to complete the construction of 192 towers and the installation of 8 distributed antenna system networks and 857 shared generators domestically and the construction of 1,113 towers and the installation of 28 distributed antenna system networks internationally; $54.5 million to purchase land under the Company’s communications sites; $22.1 million for start-up capital projects in recently launched markets; $75.1 million for the redevelopment of existing communications sites to accommodate new tenant equipment; and $85.7 million for capital improvements and corporate capital expenditures.

Cash Paid for Acquisitions – During the third quarter of 2013, the Company spent $54.5 million for the purchase of 3 domestic towers and 513 international towers. The international towers consisted of those acquired pursuant to previously announced agreements, including 294 towers in Colombia, 189 towers in South Africa and 9 towers in Ghana. In addition, the Company acquired 20 towers in Mexico during the third quarter of 2013.

During the nine months ended September 30, 2013, the Company spent $365.7 million for the purchase of 59 domestic towers and 1,530 international towers.

As previously announced, subsequent to the end of the third quarter of 2013, the Company completed its acquisition of MIP Tower Holdings LLC, a private real estate investment trust, which is the parent company of Global Tower Partners (GTP) in which it acquired over 5,000 towers, the rights to over 9,000 rooftop sites and over 800 managed towers domestically, and approximately 550 towers in Central America. As consideration for the acquisition, American Tower assumed approximately $1.5 billion of existing GTP debt and paid approximately $3.3 billion in cash.

During the third quarter, the Company entered into an agreement with NII Holdings, Inc. to acquire up to 2,790 communications sites in Brazil and 1,666 communications sites in Mexico in two separate transactions, for approximately 945 million Brazilian Reais (approximately $423.8 million) and 5,025 million Mexican Pesos (approximately $382.3 million), respectively.

In addition, during the third quarter, the Company entered into an agreement to acquire up to 236 communications sites in Brazil for an aggregate purchase price of up to approximately 283 million Brazilian Reais (approximately $127.1 million), which are expected to close during the first quarter of 2014.

Stock Repurchase Program – During the third quarter of 2013, the Company repurchased a total of approximately 1.0 million shares of its common stock for approximately $70.4 million pursuant to its stock repurchase program. On September 6, 2013, the Company temporarily suspended repurchases following the signing of its agreement to acquire GTP.

During the nine months ended September 30, 2013, the Company repurchased a total of approximately 1.9 million shares of its common stock for approximately $145.0 million pursuant to its stock repurchase program.

FINANCING OVERVIEW

Leverage – For the quarter ended September 30, 2013, the Company’s Net Leverage Ratio was approximately 4.1x net debt (total debt less cash and cash equivalents) to third quarter 2013 annualized Adjusted EBITDA. On October 1, 2013, the Company’s Net Leverage Ratio increased as a result of its acquisition of GTP.

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Liquidity – As of September 30, 2013, the Company had approximately $5.2 billion of total liquidity, comprised of approximately $4.0 billion in cash and cash equivalents, plus the ability to borrow an aggregate of approximately $1.2 billion under its revolving credit facilities, net of any outstanding letters of credit. On October 1, 2013, the Company utilized $3.3 billion of its cash on hand to fund the acquisition of GTP.

Subsequent to the end of the third quarter of 2013, the Company entered into a new $1.5 billion term loan, the proceeds of which, along with cash on hand, were used to repay its existing $750 million 2012 term loan and $800 million under its 2012 revolving credit facility. As a result, the Company’s total liquidity was approximately $2.6 billion as of October 30, 2013.

FULL YEAR 2013 OUTLOOK

The following estimates are based on a number of assumptions that management believes to be reasonable and reflect the Company’s expectations as of October 30, 2013. Actual results may differ materially from these estimates as a result of various factors, and the Company refers you to the cautionary language regarding “forward-looking” statements included in this press release when considering this information.

As reflected in the table below, the Company has raised the midpoint of its full year 2013 outlook for total rental and management revenue by $80 million, Adjusted EBITDA by $55 million and AFFO by $10 million. These estimates include the impact of the Company’s acquisition of sites from GTP, which closed on October 1, 2013 and the Company’s pending acquisition of sites from NII Holdings in Mexico, which is scheduled to close in November 2013.

The Company’s outlook is based on the following average foreign currency exchange rates to 1.00 U.S. Dollar for the fourth quarter of 2013: (a) 2.25 Brazilian Reais; (b) 505.00 Chilean Pesos; (c) 1,900.00 Colombian Pesos; (d) 0.75 Euros; (e) 2.15 Ghanaian Cedi; (f) 63.00 Indian Rupees; (g) 12.90 Mexican Pesos; (h) 2.75 Peruvian Soles; (i) 10.00 South African Rand; and (j) 2,550.00 Ugandan Schillings.

($ in millions)	Full Year 2013					Midpoint Growth			Midpoint Core Growth
Total rental and management revenue	$	3,250	to	$	3,280		16.5	%		21.2	%
Adjusted EBITDA(1)	$	2,150	to	$	2,180		14.4	%		19.4	%
Adjusted Funds From Operations(1)	$	1,455	to	$	1,475		19.8	%		22.4	%
Net Income	$	580	to	$	620		1.0	%		N/A

(1) See “Non-GAAP and Defined Financial Measures” below.

The Company’s outlook for total rental and management revenue reflects the following at the midpoint: (1) domestic rental and management segment revenue of $2,180 million; and (2) international rental and management segment revenue of $1,085 million, which includes approximately $286 million of pass-through revenue.

The calculation of midpoint Core Growth is as follows:

(Totals may not add due to rounding.)

	Total Rental and Management Revenue			Adjusted EBITDA			AFFO
Outlook midpoint Core Growth		21.2	%		19.4	%		22.4	%
Estimated impact of fluctuations in foreign currency exchange rates		(2.1	)%		(1.4	)%		(1.9	)%
Impact of straight-line revenue and expense recognition		(1.9	)%		(2.4	)%		—
Impact of significant one-time items		(0.7	)%		(1.1	)%		(0.6	)%
Outlook midpoint growth		16.5	%		14.4	%		19.8	%

Outlook for Capital Expenditures:

($ in millions)

(Totals may not add due to rounding.)	Full Year 2013
Discretionary capital projects(1)	$	305	to	$	315
Ground lease purchases		85	to		105
Start-up capital projects		20	—		20
Redevelopment		100	to		110
Capital improvement(2)		85	to		95
Corporate		30	—		30
Total	$	625	to	$	675

(1) Includes the construction of approximately 1,900 to 2,100 new communications sites.

(2) Includes spending related to a lighting system upgrade in the U.S. of approximately $15 million.

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Reconciliations of Outlook for Net Income to Adjusted EBITDA:

($ in millions)

(Totals may not add due to rounding.)	Full Year 2013
Net income	$	580	to	$	620
Interest expense		465	to		455
Depreciation, amortization and accretion		805	to		785
Income tax provision		30	to		40
Stock-based compensation expense		65	to		70
Other, including other operating expenses, interest income, loss on retirement of long-term obligations, (income) loss on equity method investments and other (income) expense		205	to		210
Adjusted EBITDA	$	2,150	to	$	2,180

Reconciliations of Outlook for Net Income to Adjusted Funds From Operations:

($ in millions)

(Totals may not add due to rounding.)	Full Year 2013
Net income	$	580		to	$	620
Straight-line revenue		(144	)	—		(144	)
Straight-line expense		33		—		33
Depreciation, amortization and accretion		805		to		785
Stock-based compensation expense		65		to		70
Non-cash portion of tax provision		(12	)	—		(12	)
Other, including other operating expenses, interest expense, amortization of deferred financing costs, capitalized interest, debt discounts and premiums and long-term deferred interest charges, loss on retirement of long-term obligations, other (income) expense and non-cash interest related to joint venture shareholder loans		243		to		248
Capital improvement capital expenditures		(85	)	to		(95	)
Corporate capital expenditures		(30	)	—		(30	)
Adjusted Funds From Operations	$	1,455		to	$	1,475

Conference Call Information

American Tower will host a conference call today at 8:30 a.m. ET to discuss its financial results for the third quarter and nine months ended September 30, 2013 and its full year 2013 outlook. Supplemental materials for the call will be available on the Company’s website,www.americantower.com. The conference call dial-in numbers are as follows:

U.S./Canada dial-in: (866) 740-9153

International dial-in: (706) 645-9644

Passcode: 87346738

When available, a replay of the call can be accessed until 11:59 p.m. ET on November 13, 2013. The replay dial-in numbers are as follows:

U.S./Canada dial-in: (855) 859-2056

International dial-in: (404) 537-3406

Passcode: 87346738

American Tower will also sponsor a live simulcast and replay of the call on its website,www.americantower.com.

About American Tower

American Tower is a leading independent owner, operator and developer of wireless and broadcast communications real estate. American Tower currently owns and operates over 61,000 communications sites in the United States, Brazil, Chile, Colombia, Costa Rica, Germany, Ghana, India, Mexico, Panama, Peru, South Africa and Uganda. For more information about American Tower, please visitwww.americantower.com.

Non-GAAP and Defined Financial Measures

In addition to the results prepared in accordance with generally accepted accounting principles in the United States (GAAP) provided throughout this press release, the Company has presented the following non-GAAP and defined financial measures: Gross Margin, Operating Profit, Operating Profit Margin, Adjusted EBITDA, Adjusted EBITDA Margin, NAREIT Funds From Operations, Adjusted Funds From Operations, Adjusted Funds From Operations per Share, Core Growth and Net Leverage Ratio. The Company uses Funds From Operations as defined by the National Association of Real Estate Investment Trusts (NAREIT), referred to herein as NAREIT Funds From Operations.

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The Company defines Gross Margin as revenues less operating expenses, excluding stock-based compensation expense recorded in costs of operations, depreciation, amortization and accretion, selling, general, administrative and development expense, and other operating expenses. The Company defines Operating Profit as Gross Margin less selling, general, administrative and development expense, excluding stock-based compensation expense and corporate expenses. For reporting purposes, the international rental and management segment Operating Profit and Gross Margin also include interest income, TV Azteca, net. These measures of Gross Margin and Operating Profit are also before interest income, interest expense, loss on retirement of long-term obligations, other income (expense), net income attributable to non-controlling interest, income (loss) on equity method investments and income taxes. The Company defines Operating Profit Margin as the percentage that results from dividing Operating Profit by revenue. The Company defines Adjusted EBITDA as net income before income (loss) from discontinued operations, net, income (loss) from equity method investments, income tax provision (benefit), other (income) expense, loss on retirement of long-term obligations, interest expense, interest income, other operating income (expenses), depreciation, amortization and accretion and stock-based compensation expense. The Company defines Adjusted EBITDA Margin as the percentage that results from dividing Adjusted EBITDA by total revenue. NAREIT Funds From Operations is defined as net income before gains or losses from the sale or disposal of real estate, real estate related impairment charges and real estate related depreciation, amortization and accretion, and including adjustments for (i) unconsolidated affiliates and (ii) noncontrolling interest. The Company defines Adjusted Funds From Operations as NAREIT Funds From Operations before (i) straight-line revenue and expense, (ii) stock-based compensation expense, (iii) the non-cash portion of our tax provision, (iv) non-real estate related depreciation, amortization and accretion, (v) amortization of deferred financing costs, capitalized interest, debt discounts and premiums and long-term deferred interest charges, (vi) other (income) expense, (vii) loss on retirement of long-term obligations, (viii) other operating (income) expense, and adjusted for (ix) unconsolidated affiliates, and (x) noncontrolling interest, less cash payments related to capital improvements and cash payments related to corporate capital expenditures. The Company defines Adjusted Funds From Operations per Share as Adjusted Funds From Operations divided by the diluted weighted average common shares outstanding. The Company defines Core Growth in total rental and management revenue, Adjusted EBITDA and Adjusted Funds From Operations as the increase or decrease, expressed as a percentage, resulting from a comparison of financial results for a current period with corresponding financial results for the corresponding period in a prior year, in each case, excluding the impact of straight-line revenue and expense recognition, foreign currency exchange rate fluctuations and significant one-time items. The Company defines Net Leverage Ratio as net debt (total debt, less cash and cash equivalents) divided by last quarter annualized Adjusted EBITDA. These measures are not intended to replace financial performance measures determined in accordance with GAAP. Rather, they are presented as additional information because management believes they are useful indicators of the current financial performance of the Company’s core businesses. The Company believes that these measures can assist in comparing company performances on a consistent basis irrespective of depreciation and amortization or capital structure. Depreciation and amortization can vary significantly among companies depending on accounting methods, particularly where acquisitions or non-operating factors, including historical cost bases, are involved. Notwithstanding the foregoing, the Company’s measures of Gross Margin, Operating Profit, Operating Profit Margin, Adjusted EBITDA, Adjusted EBITDA Margin, NAREIT Funds From Operations, Adjusted Funds From Operations, Adjusted Funds From Operations per Share, Core Growth and Net Leverage Ratio may not be comparable to similarly titled measures used by other companies.

Cautionary Language Regarding Forward-Looking Statements

This press release contains “forward-looking statements” concerning our goals, beliefs, expectations, strategies, objectives, plans, future operating results and underlying assumptions, and other statements that are not necessarily based on historical facts. Examples of these statements include, but are not limited to statements regarding our full year 2013 outlook, foreign currency exchange rates and our expectation regarding the declaration of regular distributions. Actual results may differ materially from those indicated in our forward-looking statements as a result of various important factors, including: (1) decrease in demand for our communications sites would materially and adversely affect our operating results and we cannot control that demand; (2) new technologies or changes in a tenant’s business model could make our tower leasing business less desirable and result in decreasing revenues; (3) our business is subject to government regulations and changes in current or future laws or regulations could restrict our ability to operate our business as we currently do; (4) if our tenants consolidate, merge or share site infrastructure with each other to a significant degree, our growth, revenue and ability to generate positive cash flows could be materially and adversely affected; (5) we could suffer adverse tax or other financial consequences if taxing authorities do not agree with our tax positions; (6) our expansion initiatives involve a number of risks and uncertainties that could adversely affect our operating results, disrupt our operations or expose us to additional risk if we are not able to successfully integrate operations, assets and personnel; (7) our foreign operations are subject to economic, political and other risks that could materially and adversely affect our revenues or financial position, including risks associated with fluctuations in foreign currency exchange rates; (8) our leverage and debt service obligations may materially and adversely affect us; (9) we may fail to realize the growth prospects and cost savings anticipated as a result of our acquisition of GTP; (10) we will incur significant transaction and acquisition-related integration costs in connection with the acquisition of GTP; (11) a substantial portion of our revenue is derived from a small number of tenants, and we are sensitive to changes in the creditworthiness and financial strength of our tenants; (12) if we are unable to protect our rights to the land under our towers, it could adversely affect our business and operating results; (13) increasing competition in the tower industry may create pricing pressures that may materially and adversely affect us; (14) if we are unable or choose not to exercise our rights to purchase towers that are subject to lease and sublease agreements at the end of the applicable period, our cash flows derived from such towers would be eliminated; (15) if we fail to remain qualified as a REIT, we would be subject to tax at corporate income tax rates, which would substantially reduce funds otherwise available; (16) we may be limited in our ability to fund required distributions using cash generated through our TRSs; (17) complying with REIT requirements may limit our flexibility or cause us to forego otherwise attractive opportunities; (18) certain of our business activities may be subject to corporate level income tax and foreign taxes, which reduce our cash flows, and may have deferred and contingent tax liabilities; (19) we may need additional financing to fund capital expenditures, future growth and expansion initiatives and to satisfy our REIT distribution requirements; (20) restrictive covenants in the Loan Agreement related to our Securitization and indentures related to the GTP Securitization, the loan agreements for our credit facilities and the indentures governing our debt securities could materially and adversely affect our business by limiting flexibility; (21) we may incur goodwill and other intangible asset impairment charges which could result in a significant reduction to our earnings; (22) we have limited experience operating as a REIT, which may adversely affect our financial condition, results of operations, cash flow and ability to satisfy debt service obligations; (23) we could have liability under environmental and occupational safety and health laws; (24) our towers or data centers may be affected by natural disasters and other unforeseen events for which our insurance may not provide adequate coverage; (25) our costs could increase and our revenues could decrease due to perceived health risks from radio emissions, especially if these perceived risks are substantiated. For additional information regarding factors that may cause actual results to differ materially from those indicated in our forward-looking statements, we refer you to the information contained in Item 1A of our Form 10-Q for the quarter ended June 30, 2013. We undertake no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.

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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

	September 30, 2013			December 31, 2012(1)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	4,040,353		$	368,618
Restricted cash		132,019			69,316
Short-term investments		27,381			6,018
Accounts receivable, net		152,560			143,772
Prepaid and other current assets		365,792			222,999
Deferred income taxes		23,931			25,754
Total current assets		4,742,036			836,477
Property and equipment, net		5,878,826			5,766,150
Goodwill		2,815,271			2,842,717
Other intangible assets, net		3,195,106			3,205,496
Deferred income taxes		219,373			209,589
Deferred rent asset		878,124			776,201
Notes receivable and other non-current assets		452,584			452,788
TOTAL	$	18,181,320		$	14,089,418
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Accounts payable	$	90,845		$	89,578
Accrued expenses		331,311			286,962
Distributions payable		110,937			189
Accrued interest		84,528			71,271
Current portion of long-term obligations		67,276			60,031
Unearned revenue		138,422			124,147
Total current liabilities		823,319			632,178
Long-term obligations		12,578,532			8,693,345
Asset retirement obligations		461,586			435,613
Other non-current liabilities		705,966			644,101
Total liabilities		14,569,403			10,405,237
COMMITMENTS AND CONTINGENCIES
EQUITY:
Common stock		3,973			3,959
Additional paid-in capital		5,097,325			5,012,124
Distributions in excess of earnings		(1,066,580	)		(1,196,907	)
Accumulated other comprehensive loss		(298,015	)		(183,347	)
Treasury stock		(207,740	)		(62,728	)
Total American Tower Corporation equity		3,528,963			3,573,101
Noncontrolling interest		82,954			111,080
Total equity		3,611,917			3,684,181
TOTAL	$	18,181,320		$	14,089,418

(1) December 31, 2012 balances have been revised to reflect purchase accounting measurement period adjustments.

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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
REVENUES:
Rental and management	$	796,575		$	697,554		$	2,363,207		$	2,063,806
Network development services		11,305			15,781			56,231			43,780
Total operating revenues		807,880			713,335			2,419,438			2,107,586
OPERATING EXPENSES:
Costs of operations (exclusive of items shown separately below):
Rental and management (including stock-based compensation expense of $248, $195, $751 and $594, respectively)		195,953			177,336			585,465			506,120
Network development services (including stock-based compensation expense of $99, $245, $440 and $749, respectively)		4,876			7,568			22,839			22,153
Depreciation, amortization and accretion		184,922			144,061			555,334			465,788
Selling, general, administrative and development expense (including stock-based compensation expense of $14,711, $12,618, $51,964 and $38,311, respectively)		97,781			81,459			298,737			237,891
Other operating expenses		15,469			7,359			35,686			35,150
Total operating expenses		499,001			417,783			1,498,061			1,267,102
OPERATING INCOME		308,879			295,552			921,377			840,484
OTHER INCOME (EXPENSE):
Interest income, TV Azteca, net		3,544			3,586			10,673			10,715
Interest income		2,342			1,717			5,468			6,253
Interest expense		(106,335	)		(102,272	)		(318,916	)		(297,622	)
Loss on retirement of long-term obligations		—			—			(37,967	)		(398	)
Other (expense) income (including unrealized foreign currency (losses) gains of $(30,907), $46,191, $(151,673), and $(12,847), respectively)		(29,622	)		46,294			(148,991	)		(19,468	)
Total other expense		(130,071	)		(50,675	)		(489,733	)		(300,520	)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INCOME ON EQUITY METHOD INVESTMENTS		178,808			244,877			431,644			539,964
Income tax provision		(15,586	)		(13,054	)		(23,361	)		(64,117	)
Income on equity method investments		—			2			—			25
NET INCOME		163,222			231,825			408,283			475,872
Net loss attributable to noncontrolling interest		16,901			264			43,068			25,732
NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION	$	180,123		$	232,089		$	451,351		$	501,604
NET INCOME PER COMMON SHARE AMOUNTS:
Basic net income attributable to American Tower Corporation	$	0.46		$	0.59		$	1.14		$	1.27
Diluted net income attributable to American Tower Corporation	$	0.45		$	0.58		$	1.13		$	1.26
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic		394,759			395,244			395,138			394,626
Diluted		398,348			399,487			399,275			399,084
DISTRIBUTIONS DECLARED PER SHARE	$	0.28		$	0.23		$	0.81		$	0.66

8

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

	Nine Months Ended September 30,
	2013			2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	408,283		$	475,872
Adjustments to reconcile net income to cash provided by operating activities:
Stock-based compensation expense		53,155			39,654
Depreciation, amortization and accretion		555,334			465,788
Loss on early retirement of securitized debt		35,288			—
Other non-cash items reflected in statements of operations		164,406			79,655
Increase in net deferred rent asset		(83,694	)		(92,296	)
Increase in restricted cash		(62,703	)		(693	)
Increase in assets		(59,267	)		(36,137	)
Increase in liabilities		133,641			184,704
Cash provided by operating activities		1,144,443			1,116,547
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for purchase of property and equipment and construction activities		(448,249	)		(377,026	)
Payments for acquisitions, net of cash acquired		(365,658	)		(822,714	)
Proceeds from sale of short-term investments and other non-current assets		27,889			358,707
Payments for short-term investments		(50,224	)		(330,341	)
Deposits, restricted cash, investments and other		(122,396	)		(2,892	)
Cash used for investing activities		(958,638	)		(1,174,266	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from short-term borrowings, net		7,544			20,099
Borrowings under credit facilities		3,507,000			1,325,000
Proceeds from issuance of senior notes, net		2,221,792			698,670
Proceeds from issuance of Securities in securitization transaction, net		1,778,496			—
Proceeds from term loan credit facility		—			750,000
Proceeds from other long-term borrowings		27,971			99,132
Repayments of notes payable, credit facilities and capital leases		(3,705,454	)		(2,655,367	)
Contributions from noncontrolling interest holders, net		17,584			48,500
Purchases of common stock		(145,012	)		(16,733	)
Proceeds from stock options		32,973			42,825
Distributions		(209,711	)		(169,816	)
Payment for early retirement of securitized debt		(29,234	)		—
Deferred financing costs and other financing activities		(9,190	)		(30,215	)
Cash provided by financing activities		3,494,759			112,095
Net effect of changes in foreign currency exchange rates on cash and cash equivalents		(8,829	)		(2,255	)
NET INCREASE IN CASH AND CASH EQUIVALENTS		3,671,735			52,121
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD		368,618			330,191
CASH AND CASH EQUIVALENTS, END OF PERIOD		4,040,353			382,312
CASH PAID FOR INCOME TAXES, NET OF REFUNDS	$	23,172		$	28,465
CASH PAID FOR INTEREST	$	283,145		$	265,443

9

UNAUDITED RESULTS FROM OPERATIONS, BY SEGMENT

(In thousands, except percentages)

Three months ended September 30, 2013
	Rental and Management									Network Development Services			Total
	Domestic			International			Total
Segment revenues	$	529,941		$	266,634		$	796,575		$	11,305		$	807,880
Segment operating expenses(1)		95,232			100,473			195,705			4,777			200,482
Interest income, TV Azteca, net		—			3,544			3,544			—			3,544
Segment Gross Margin		434,709			169,705			604,414			6,528			610,942
Segment selling, general, administrative and development expense(1)		24,523			31,728			56,251			1,880			58,131
Segment Operating Profit	$	410,186		$	137,977		$	548,163		$	4,648		$	552,811
Segment Operating Profit Margin		77	%		52	%		69	%		41	%		68	%

Three months ended September 30, 2012
	Rental and Management									Network Development Services			Total
	Domestic			International			Total
Segment revenues	$	480,351		$	217,203		$	697,554		$	15,781		$	713,335
Segment operating expenses(1)		92,072			85,069			177,141			7,323			184,464
Interest income, TV Azteca, net		—			3,586			3,586			—			3,586
Segment Gross Margin		388,279			135,720			523,999			8,458			532,457
Segment selling, general, administrative and development expense(1)		20,141			25,057			45,198			2,127			47,325
Segment Operating Profit	$	368,138		$	110,663		$	478,801		$	6,331		$	485,132
Segment Operating Profit Margin		77	%		51	%		69	%		40	%		68	%

Nine months ended September 30, 2013
	Rental and Management									Network Development Services			Total
	Domestic			International			Total
Segment revenues	$	1,566,660		$	796,547		$	2,363,207		$	56,231		$	2,419,438
Segment operating expenses(1)		282,273			302,441			584,714			22,399			607,113
Interest income, TV Azteca, net		—			10,673			10,673			—			10,673
Segment Gross Margin		1,284,387			504,779			1,789,166			33,832			1,822,998
Segment selling, general, administrative and development expense(1)		71,664			93,753			165,417			7,105			172,522
Segment Operating Profit	$	1,212,723		$	411,026		$	1,623,749		$	26,727		$	1,650,476
Segment Operating Profit Margin		77	%		52	%		69	%		48	%		68	%

Nine months ended September 30, 2012
	Rental and Management									Network Development Services			Total
	Domestic			International			Total
Segment revenues	$	1,440,824		$	622,982		$	2,063,806		$	43,780		$	2,107,586
Segment operating expenses(1)		273,188			232,338			505,526			21,404			526,930
Interest income, TV Azteca, net		—			10,715			10,715			—			10,715
Segment Gross Margin		1,167,636			401,359			1,568,995			22,376			1,591,371
Segment selling, general, administrative and development expense(1)		60,638			68,433			129,071			4,410			133,481
Segment Operating Profit	$	1,106,998		$	332,926		$	1,439,924		$	17,966		$	1,457,890
Segment Operating Profit Margin		77	%		53	%		70	%		41	%		69	%

(1) Excludes stock-based compensation expense.

10

UNAUDITED SELECTED FINANCIAL INFORMATION

(In thousands, except where noted. Totals may not add due to rounding.)

SELECTED BALANCE SHEET DETAIL:

Long-term obligations summary, including current portion	September 30, 2013		September 30, 2013 Pro Forma(1)
2012 Credit Facility(2)	$	963,000	$	163,000
2013 Credit Facility		1,853,000		1,853,000
2012 Term Loan		750,000		—
2013 Term Loan(2)		—		1,500,000
4.625% Senior Notes due 2015		599,754		599,754
7.000% Senior Notes due 2017		500,000		500,000
4.500% Senior Notes due 2018		999,493		999,493
3.400% Senior Notes due 2019		749,346		749,346
7.250% Senior Notes due 2019		296,626		296,626
5.050% Senior Notes due 2020		699,393		699,393
5.900% Senior Notes due 2021		499,399		499,399
4.700% Senior Notes due 2022		698,842		698,842
3.500% Senior Notes due 2023		992,347		992,347
5.000% Senior Notes due 2024		499,445		499,445
Total unsecured debt at American Tower Corporation	$	10,100,645	$	10,050,645
Secured Tower Revenue Securities, Series 2013-1A		500,000		500,000
Secured Tower Revenue Securities, Series 2013-2A		1,300,000		1,300,000
GTP Securitizations(3)		—		1,543,586
Unison Notes(4)		205,874		205,874
South African Facility(5)		94,798		94,798
Colombian long-term credit facility(5)		70,509		70,509
Colombian bridge loans(5)		56,415		56,415
GTP Costa Rica loan(6)		—		32,600
Shareholder loans(7)		251,667		251,667
Indian Working Capital Facility		—		—
Capital leases		65,900		65,900
Total secured or subsidiary debt	$	2,545,163	$	4,121,349
Total debt	$	12,645,808	$	14,171,994
Cash and cash equivalents		4,040,353
Net debt (total debt less cash and cash equivalents)	$	8,605,455

(1) Pro Forma for the close of the acquisition of GTP and the close of the 2013 Term Loan.

(2) On October 29, 2013, the Company used net proceeds from borrowings under the 2013 Term Loan and cash on hand to repay the 2012 Term Loan and $800 million under the 2012 Credit Facility.

(3) The GTP Securitizations were assumed in connection with the acquisition of GTP and include approximately $1.5 billion of existing indebtedness from GTP and a fair value adjustment of approximately $53.0 million.

(4) The Unison Notes are secured debt and were assumed as a result of the acquisition of certain legal entities holding a portfolio of property interests from Unison Holdings LLC and Unison Site Management II, L.L.C.

(5) Denominated in local currency.

(6) The GTP Costa Rica loan was assumed in connection with the acquisition of GTP and is denominated in USD.

(7) Denominated in USD, reflects balances attributable to minority shareholder loans in the Company’s joint ventures in Colombia, Ghana and Uganda.

Calculation of Net Leverage Ratio($ in thousands)	September 30, 2013
Total debt	$	12,645,808
Cash and cash equivalents		4,040,353
Numerator: net debt (total debt less cash and cash equivalents)	$	8,605,455
Adjusted EBITDA	$	527,872
Denominator: annualized Adjusted EBITDA		2,111,488
Net Leverage Ratio(1)		4.1x

(1) Subsequent to the end of the third quarter of 2013, the Company utilized $3.3 billion of cash on hand to fund the acquisition of GTP and assumed $1.5 billion of existing indebtedness from GTP. As a result, the Company’s Net Leverage Ratio increased.

11

UNAUDITED SELECTED FINANCIAL INFORMATION

(In thousands, except where noted. Totals may not add due to rounding.)

SELECTED BALANCE SHEET DETAIL (CONTINUED):

Share count rollforward:(in millions of shares)	Three Months Ended September 30, 2013			Nine Months Ended September 30, 2013
Total common shares, beginning of period		395.1			395.1
Common shares repurchased		(1.0	)		(1.9	)
Common shares issued		0.4			1.3
Total common shares outstanding, end of period(1)		394.5			394.5

(1) As of September 30, 2013, excludes (a) 3.5 million potentially dilutive shares associated with vested and exercisable stock options with an average exercise price of $40.05 per share, (b) 2.9 million potentially dilutive shares associated with unvested stock options, and (c) 1.8 million potentially dilutive shares associated with unvested restricted stock units.

SELECTED STATEMENT OF OPERATIONS DETAIL:

Total rental and management straight-line revenue and expense (1):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Total rental and management operations straight-line revenue	$	37,286	$	40,986	$	105,968	$	118,545
Total rental and management operations straight-line expense	$	6,293	$	8,118	$	21,319	$	26,147

(1) In accordance with GAAP, the Company recognizes consolidated rental and management revenue and expense related to non-cancellable customer and ground lease agreements with fixed escalations on a straight-line basis, over the applicable lease term. As a result, the Company’s revenue recognized may differ materially from the amount of cash collected per tenant lease, and the Company’s expense incurred may differ materially from the amount of cash paid per ground lease. Additional information regarding straight-line accounting can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 in the section entitled “Revenue Recognition,” in note 1, “Business and Summary of Significant Accounting Policies” within the notes to the consolidated financial statements. The above table sets forth a summary of total rental and management straight-line revenue and expense, which represents the non-cash revenue and expense recorded due to straight-line recognition.

	Three Months Ended September 30,				Nine Months Ended September 30,
International pass-through revenue detail:	2013		2012		2013		2012
Pass-through revenue	$	71,280	$	57,201	$	212,210	$	161,171

	Three Months Ended September 30,						Nine Months Ended September 30,
Pre-paid rent detail:	2013			2012			2013			2012
Beginning balance	$	216,649		$	158,536		$	198,792		$	156,678
Cash		42,950			48,397			87,993			73,868
Amortization(1)		(15,561	)		(8,359	)		(42,748	)		(31,972	)
Ending balance	$	244,037		$	198,574		$	244,037		$	198,574

(1) Includes the impact of fluctuations in foreign currency exchange rates.

	Three Months Ended September 30,				Nine Months Ended September 30,
Selling, general, administrative and development expense breakout:	2013		2012		2013		2012
Total rental and management overhead	$	56,251	$	45,198	$	165,417	$	129,071
Network development services segment overhead		1,880		2,127		7,105		4,410
Corporate and development expenses		24,939		21,516		74,251		66,099
Stock-based compensation expense		14,711		12,618		51,964		38,311
Total	$	97,781	$	81,459	$	298,737	$	237,891

12

UNAUDITED SELECTED FINANCIAL INFORMATION

($ in thousands. Totals may not add due to rounding.)

SELECTED STATEMENT OF OPERATIONS DETAIL (CONTINUED):

The following table reflects the estimated impact of foreign currency exchange rate fluctuations, straight-line revenue and expense recognition and material one-time items on total rental and management revenue, Adjusted EBITDA and AFFO:

The calculation of Core Growth is as follows:

Three Months Ended September 30, 2013	Total Rental and Management Revenue			Adjusted EBITDA			AFFO
Core Growth		18.5	%		17.4	%		25.9	%
Estimated impact of fluctuations in foreign currency exchange rates		(2.8	)%		(1.9	)%		(2.7	)%
Impact of straight-line revenue recognition		(1.4	)%		(1.5	)%		—
Impact of material one-time items		—			—			1.2	%
Reported growth		14.2	%		13.9	%		24.4	%
Nine Months Ended September 30, 2013
Core Growth		18.9	%		17.2	%		21.7	%
Estimated impact of fluctuations in foreign currency exchange rates		(1.8	)%		(1.2	)%		(1.9	)%
Impact of straight-line revenue recognition		(1.6	)%		(1.6	)%		—
Impact of material one-time items		(0.9	)%		(1.0	)%		(2.0	)%
Reported growth		14.5	%		13.3	%		17.7	%

SELECTED CASH FLOW DETAIL:

	Three Months Ended September 30,				Nine Months Ended September 30,
Payments for purchase of property and equipment and construction activities:	2013		2012		2013		2012
Discretionary - capital projects	$	80,733	$	78,894	$	210,860	$	192,165
Discretionary - ground lease purchases		22,656		21,273		54,516		48,462
Start-up capital projects		7,597		11,253		22,133		18,915
Redevelopment		30,004		17,748		75,087		58,703
Capital improvements		18,724		16,189		61,048		44,587
Corporate		7,930		5,267		24,605		14,194
Total	$	167,644	$	150,624	$	448,249	$	377,026

SELECTED PORTFOLIO DETAIL – OWNED SITES:

Tower Count (1):	As of June 30, 2013		Constructed		Acquired		Adjustments			As of September 30, 2013
United States (2)		22,720		48		3		(17	)		22,754
Brazil		4,482		29		—		—			4,511
Chile		1,182		2		1		(36	)		1,149
Colombia		3,104		47		294		(16	)		3,429
Germany		2,031		—		—		—			2,031
Ghana		1,931		14		9		—			1,954
India		10,774		215		—		(30	)		10,959
Mexico (3)		6,721		65		20		—			6,806
Peru		499		—		—		—			499
South Africa		1,629		10		189		—			1,828
Uganda		1,120		35		—		(7	)		1,148
Total		56,193		465		516		(106	)		57,068

(1) Excludes in-building and outdoor distributed antenna system networks.

(2) Includes 274 broadcast towers.

(3) Includes 199 broadcast towers.

13

UNAUDITED RECONCILIATIONS TO GAAP MEASURES AND THE CALCULATION OF DEFINED FINANCIAL MEASURES

(In thousands, except per share data and percentages. Totals may not add due to rounding.)

The reconciliation of net income to Adjusted EBITDA and the calculation of Adjusted EBITDA Margin are as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Net income	$	163,222		$	231,825		$	408,283		$	475,872
Income from equity method investments		—			(2	)		—			(25	)
Income tax provision		15,586			13,054			23,361			64,117
Other expense (income)		29,622			(46,294	)		148,991			19,468
Loss on retirement of long-term obligations		—			—			37,967			398
Interest expense		106,335			102,272			318,916			297,622
Interest income		(2,342	)		(1,717	)		(5,468	)		(6,253	)
Other operating expenses		15,469			7,359			35,686			35,150
Depreciation, amortization and accretion		184,922			144,061			555,334			465,788
Stock-based compensation expense		15,058			13,058			53,155			39,654
Adjusted EBITDA	$	527,872		$	463,616		$	1,576,225		$	1,391,791
Divided by total revenue		807,880			713,335			2,419,438			2,107,586
Adjusted EBITDA Margin		65	%		65	%		65	%		66	%

The reconciliation of net income to NAREIT Funds From Operations and the calculation of Adjusted Funds From Operations and Adjusted Funds From Operations per Share are presented below:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Net Income	$	163,222		$	231,825		$	408,283		$	475,872
Real estate related depreciation, amortization and accretion		160,976			122,944			485,328			407,970
Losses from sale or disposal of real estate and real estate related impairment charges		6,160			1,901			8,830			7,911
Adjustments for unconsolidated affiliates and noncontrolling interest		10,516			(6,338	)		22,159			10,135
NAREIT Funds From Operations	$	340,874		$	350,332		$	924,600		$	901,888
Straight-line revenue		(37,286	)		(40,986	)		(105,968	)		(118,545	)
Straight-line expense		6,293			8,118			21,319			26,147
Stock-based compensation expense		15,058			13,058			53,155			39,654
Non-cash portion of tax provision		9,567			(2,635	)		189			35,652
Non-real estate related depreciation, amortization and accretion		23,946			21,117			70,006			57,818
Amortization of deferred financing costs, capitalized interest, debt discounts and premiums and long-term deferred interest charges		7,127			2,254			22,049			6,516
Other expense (income) (1)		29,622			(46,294	)		148,991			19,468
Loss on retirement of long-term obligations		—			—			37,967			398
Other operating expense (2)		9,309			5,458			26,856			27,239
Capital improvement capital expenditures (3)		(18,724	)		(16,189	)		(61,048	)		(44,587	)
Corporate capital expenditures		(7,930	)		(5,268	)		(24,605	)		(14,194	)
Adjustments for unconsolidated affiliates and noncontrolling interest		(10,516	)		6,338			(22,159	)		(10,135	)
Adjusted Funds From Operations	$	367,340		$	295,303		$	1,091,352		$	927,319
Divided by weighted average diluted shares outstanding		398,348			399,487			399,275			399,084
Adjusted Funds From Operations per Share	$	0.92		$	0.74		$	2.73		$	2.32

(1) Primarily includes unrealized (gain) loss on foreign currency exchange rate fluctuations.

(2) Primarily includes transaction related costs.

(3) 2012 amounts adjusted to exclude the category of capital expenditures, start-up capital projects.

14