On January 14, 2021, SBA Communications Corporation (SBA") entered into a Purchase Agreement (the Purchase Agreement") under which SBA agreed to sell $1.5 billion aggregate principal amount of its 3.125% senior notes due 2029 (the Notes") to J.P. Morgan Securities LLC, as representative of the several initial purchasers named therein. The closing of the Notes occurred on January 29, 2021. The Notes have an interest rate of 3.125% and were issued at a price of 100% of their face value. SBA intends to use the net proceeds from the offering to redeem all $750.0 million aggregate principal amount of its 4.000% Senior Notes due 2022 (the 2017 Notes") and to pay all premiums and costs associated with such redemption, and to repay amounts outstanding under its Revolving Credit Facility, which as of January 11, 2021 had an outstanding principal balance of $380.0 million. All remaining net proceeds will be used for general corporate purposes. On January 29, 2021, SBA and U.S. Bank National Association, as trustee, executed an indenture (the Indenture") pursuant to which SBA issued the Notes. The Notes have an interest coupon of 3.125% and were issued at a price of 100% of their face value. Interest on the Notes is payable semi-annually on February 1 and August 1 of each year, beginning on August 1, 2021. The Notes mature on February 1, 2029. SBA may redeem the Notes, in whole or in part, at any time on or after February 1, 2024 at the applicable redemption price. In addition, until February 1, 2024, SBA may redeem up to 35% of the aggregate principal amount of the Notes with the net proceeds of certain equity offerings at a redemption price of 103.125% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest, if any, and additional interest, if any, to the redemption date. SBA may also redeem any of the Notes at any time prior to February 1, 2024 at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus the Applicable Premium as of, and accrued and unpaid interest, if any, and additional interest, if any, to, the redemption date. The Applicable Premium means, with respect to any Note on any redemption date, the greater of (i) 1.0% of the principal amount of such Note and (ii) the excess of (A) the present value at such redemption date of (1) the redemption price of such Note at February 1, 2024 (as set forth in the Indenture), plus (2) all required interest payments due on such Note through February 1, 2024 (excluding accrued but unpaid interest, if any, to the redemption date), computed using a discount rate equal to the treasury rate on such redemption date plus 50 basis points over (B) the principal amount of such Note.