BIG TOWER DEAL for Vertical Bridge
Worth $3.3B to Verizon Communications

Verizon Communications Inc. (NYSE: VZ) and Vertical Bridge, a DigitalBridge Group (NYSE: DBRG) portfolio company,
announced this morning they have reached a definitive agreement where Vertical Bridge will obtain exclusive rights to lease,
manage, and operate 6,339 wireless communication towers across the U.S. from Verizon subsidiaries. The tower deal is
valued at approximately $3.3 billion, structured as a prepaid lease with $2.8 billion in upfront cash proceeds for Verizon.

Under the terms, Verizon will lease back capacity on the towers for an initial term of 10 years, plus eight optional renewal
terms of five years each, subject to certain early termination rights, with options for extending the agreement up to 50 years.
The deal allows Verizon to access additional space on the towers for future use while optimizing tower-related costs and
increasing vendor diversity in the industry. The agreement supports Verizon’s focus on strengthening its network and
increasing financial flexibility for future investments.

Ron Bizick, Vertical Bridge’s President and CEO, hailed this deal as a milestone for the company, further solidifying its
position in the wireless tower industry. Marc Ganzi, CEO of DigitalBridge and Vice Chairman of Vertical Bridge, added
that the transaction aligns with their strategic growth, positioning them to support the increasing demand for wireless
infrastructure, driven by advancements in AI and 5G technologies.

https://insidetowers.com/verizon-and-vertical-bridge-seal-a-3-3b-deal/