Index of contents required by Law 11/2018

General Information

Brief description of the group's business model, which will include:

1. its business environment,

2. its organisation and structure,

3. the markets in which it operates,

4. its goals and strategies,

5. the main factors and trends that may affect its future evolution.

Material

2-1

• Name of the organisation: Cellnex Telecom, S.A.

• Ownership and legal form: Cellnex Telecom, S.A.

• Location of headquarters: Juan Esplandiú, 11-13 28007 Madrid

• Location of operations: 1. CELLNEX - Bring the world closer through telecom connectivity / 1.2. Connectivity solutions / European Ambition

30-34

2-6

• Activities: 1. CELLNEX - Bring the world closer through telecom connectivity / 1.2. Connectivity solutions

• Value chain: 6. VALUE CHAIN - Extending our commitment to the value chain

• Business relationships:

      1. CELLNEX - Bring the world closer through telecom connectivity / 1.3 Our commitment / Stakeholders

      2. GOVERNANCE - Showing what we are, acting with integrity / 2.5 Business perspectives

      2. GOVERNANCE - Showing what we are, acting with integrity / 2.6 Investors relations

21-62;  78-87; 143; 144-152; 253-267 

2-7

PEOPLE - Boosting our talent, being diverse and inclusive / 3.1 People Strategy

Annex 6. KPI Tables

155; 321-322

2-22

Interview with the Chair and the CEO

2. GOVERNANCE - Showing what we are, acting with integrity / 2.1 Corporate Governance

5-7; 90-105

Reporting framework used

Material

1-3

7. Basis for the preparation of the Report / 7.2 Reporting scope

This report has been prepared with reference to the GRI Standards.

270

Materiality

Material

3-1

3-2

1. CELLNEX - Bring the world closer through telecom connectivity / 1.3 Our commitment / Double materiality analysis

66-67

Policies

A description of the policies that the group applies regarding these issues, which will include: 1.) due diligence procedures applied to the identification, evaluation, prevention and mitigation of significant risks and impacts 2.) verification and control procedures, including what measures have been taken

Material

3-3

2-23

2-24

1. CELLNEX - Bring the world closer through telecom connectivity / 1.3 Our commitment

2. GOVERNANCE - Showing what we are, acting with integrity

2.1 Corporate Governance

2.2 Global Management System

3. PEOPLE - Boosting our talent, being diverse and inclusive

       3.2 Culture - Empowering our People / Equity,

       Diversity, and Inclusion

3.5 Social Dialogue

3.6 Safety and well-being at our core

4. SOCIETY - Being a facilitator of social progress / 4.4 Commitment to Human Rights

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach

5.1 Environmental strategy and positioning

5.2 Monitoring and management of the main environmental risks, opportunities, and impacts

5.4 Resource conservation

5.5 Carbon footprint and Climate Change

6. VALUE CHAIN - Extending our commitment to the value chain

6.1 Customers

6.2 Suppliers

63-87; 90-105; 106-112; 165-171; 186-188; 189-197; 220; 223-226; 227-230; 233-238; 239-245; 255-261;

262-267

Risks

The main risks related to these issues related to the activities of the group, including, where relevant and proportionate, their business relationships, products or services that may have negative effects in those areas, and how the group manages these risks, explaining the procedures used to detect and evaluate them according to national, European or international reference frameworks for each subject. Information on the impacts that have been detected must be included, offering a breakdown of them, in particular on the main risks in the short, medium and long term.

Material

3-3

1. CELLNEX - Bring the world closer through telecom connectivity / 1.3 Our commitment

2. GOVERNANCE - Showing what we are, acting with integrity / 2.3 Risk Management

4. SOCIETY - Being a facilitator of social progress / 4.4 Commitment to Human Rights

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach / 5.2 Monitoring and management of the main environmental risks, opportunities, and impacts

Annex 1. Risks

63-87; 113-117; 220; 227-230; 275-297

Environmental issues

General information

Detailed information on the current and foreseeable effects of the company's activities on the environment and, where appropriate, health and safety, environmental assessment or certification procedures.

Material

3-3

2-23

1. CELLNEX - Bring the world closer through telecom connectivity / 1.2 Connectivity solutions / Regulatory context / Exposure to electromagnetic fields

2. GOVERNANCE - Showing what we are, acting with integrity / 2.2 Global Management System

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach / 5.2 Monitoring and management of the main environmental risks, opportunities, and impacts

Annex 1. Risks

60-62; 106-112; 227-230; 275-297

Resources dedicated to the prevention of environmental risks.

Material

2-23

2. GOVERNANCE - Showing what we are, acting with integrity / 2.2 Global Management System

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach / 5.2 Monitoring and management of the main environmental risks, opportunities, and impacts.

Annex 1. Risks

Consolidated Financial Statements / Note 22.

106-112; 227-230; 275-297

The application of the precautionary principle, the amount of provisions and guarantees against environmental risks.

Material

2-23

2. GOVERNANCE - Showing what we are, acting with integrity / 2.2 Global Management System

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach / 5.2 Monitoring and management of the main environmental risks, opportunities, and impacts

Annex 1. Risks

Consolidated Financial Statements / Note 22

Cellnex has environmental liability insurance, in accordance with current legislation, amounting to €20Mn

106-112; 227-230; 275-297

Pollution

Measures to prevent, reduce or repair carbon emissions that seriously affect the environment, taking into account any form of air pollution specific to an activity, including noise and light pollution.

No material

3-3

305-5 (2016)

While it is a non-material topic and reporting is not mandatory, information is disclosed in:

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach

5.2 Monitoring and management of the main environmental risks, opportunities and impacts

5.4 Resource conservation

5.5 Carbon footprint and Climate Change

6. VALUE CHAIN - Extending our commitment to the value chain / 6.1 Customers

7. Basis for the preparation of the Report / 7.3 Carbon footprint: Scope and calculation methodology for CO₂ emissions

227-230; 233-238; 239-245; 255; 271-272

Circular economy and waste prevention and management

Circular economy; Waste: Prevention, recycling, reuse, other forms of recovery and waste disposal.

No material

3-3

306-2 (2020)

While it is a non-material topic and reporting is not mandatory, information is disclosed in:

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach / 5.4 Resource conservation / Responsible and circular resource management

Annex 6. KPI Tables

237-238; 339

Actions to fight food waste

No material

-

As this is a non-material topic, reporting this information is not applicable.

-

Sustainable use of resources

Water consumption and water supply according to local limitations

No material

303-1 (2018)

303-3 (2018)

303-5 (2018)

While it is a non-material topic and reporting is not mandatory, information is disclosed in:

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach / 5.4 Resource conservation / Responsible and circular resource management

Annex 6. KPI Tables

237-238; 336

Consumption of raw materials and the measures adopted to improve the efficiency of their use.

No material

-

As this is a non-material topic, reporting this information is not applicable..

-

Consumption, direct and indirect, of energy,

Material

3-3

302-1 (2016)

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach / 5.4 Resource conservation / Energy management

Annex 6. KPI Tables

233-236; 333-335

Measures taken to improve energy efficiency.

Material

3-3

302-4 (2016)

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach / 5.4 Resource conservation / Energy management

Annex 6. KPI Tables

233-236; 333-335

Use of renewable energies

Material

3-3

302-1 (2016)

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach / 5.4 Resource conservation / Energy management

Annex 6. KPI Tables

233-236; 333-335

Climate Change

The important elements of greenhouse gas emissions generated as a result of the company's activities, including the use of the goods and services it produces.

Material

3-3

305-1 (2016)

305-2 (2016)

305-3 (2016)

305-4 (2016)

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach / 5.5 Carbon footprint and Climate Change

7. Basis for the preparation of the Report / 7.3 Carbon footprint: Scope and calculation methodology for CO₂ emissions

Annex 6. KPI Tables

239-245; 271-272;

337-338

The measures adopted to adapt to the consequences of Climate Change.

Material

3-3

201-2 (2016)

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach

5.2 Monitoring and management of the main environmental risks, opportunities, and impacts

5.5 Carbon footprint and Climate Change

227-230; 239-245

The reduction goals established voluntarily in the medium and long term to reduce greenhouse gas emissions and the means implemented for that purpose.

Material

3-3

305-5 (2016)

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach / 5.5 Carbon footprint and Climate Change

239-245

Biodiversity

The measures taken to preserve or restore biodiversity.

No material

3-3

While it is a non-material topic and reporting is not mandatory, information is disclosed in:

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach / 5.6 Nature and biodiversity

246-252

Impacts caused by activities or operations in protected areas.

No material

304-1 (2016)

304-2 (2016)

While it is a non-material topic and reporting is not mandatory, information is disclosed in:

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach / 5.6 Nature and biodiversity

246-252

Social and personnel issues

Employment

Total number and distribution of employees by sex, age, country and professional category.

Material

3-3

2-7

405-1 (2016)

3. PEOPLE - Boosting our talent, being diverse and inclusive / 3.1 People Strategy

Annex 6. KPI Tables

155; 319-325

Total number and distribution of work

contract modalities.

Material

2-7

Annex 6. KPI Tables

321-322

Annual average of permanent, temporary and part-time contracts by sex, age and professional category

Material

2-7

405-1 (2016)

Annex 6. KPI Tables

The annual average of contracts by type exhibits no seasonality throughout the year, therefore, the breakdown of the workforce by contract type is disclosed at the end of the reporting year.

319-322

Number of dismissals by sex, age and professional classification.

Material

401-1 (2016)

Annex 6. KPI Tables

325

The average remunerations and their evolution disaggregated by sex, age and professional classification or equal value.

Material

405-2 (2016)

Annex 6. KPI Tables

326-327

Salary gap, the remuneration of equal or average positions in the company

Material

3-3

405-2 (2016)

Annex 6. KPI Tables

326

The average remuneration of directors and executives, including variable remuneration, allowances, compensation, payment to long term savings forecast systems and any other perception disaggregated by sex.

Material

3-3

2-19

405-2 (2016)

Annex 6. KPI Tables

Consolidated Financial Statements / Note 24

Annual Corporate Governance Report / 5.11 Remuneration for the Board of Directors and interests held by the members of the Board of Directors in share capital.

Annex 10. Annual Report on the Remuneration of Directors / 4. Remuneration in 2023

326-327

Implementation of labour disconnection measures.

Material

3-3

3. PEOPLE - Boosting our talent, being diverse and inclusive / 3.6 Safety and well-being at our core / Well-being at Cellnex

189-190

Employees with disabilities

Material

405-1 (2016)

Cellnex had 35 employees with different abilities in 2023, 26 in 2022.

-

Work organisation

Organisation of working time

Material

3-3

3. PEOPLE - Boosting our talent, being diverse and inclusive / 3.6 Safety and well-being at our core

189-197

Number of hours of absenteeism.

Material

403-9 (2018)

3. PEOPLE - Boosting our talent, being diverse and inclusive / 3.6 Safety and well-being at our core

Annex 6. KPI Tables

189-197; 331

Measures designed to facilitate the enjoyment of conciliation and encourage joint responsibility of these by both parents.

Material

3-3

3. PEOPLE - Boosting our talent, being diverse and inclusive / 3.6 Safety and well-being at our core

189-197

Health and Safety

Conditions of health and safety at work.

Material

3-3

403-1 (2018) a GRI 403-8 (2018)

3. PEOPLE - Boosting our talent, being diverse and inclusive / 3.6 Safety and well-being at our core

189-197

Work accidents, in particular their frequency and seriousness, occupational diseases, disaggregated by sex.

Material

403-9 (2018)

403-10 (2018)

3. PEOPLE - Boosting our talent, being diverse and inclusive / 3.6 Safety and well-being at our core

Annex 6. KPI Tables

189-197; 331

Social relations

Organisation of social dialogue, including procedures for informing and consulting staff and negotiating with them.

Material

3-3

402-1 (2016)

3. PEOPLE - Boosting our talent, being diverse and inclusive / 3.5 Social dialogue

186-188

Percentage of employees covered by collective agreement by country.

Material

2-30

3. PEOPLE - Boosting our talent, being diverse and inclusive / 3.5 Social dialogue

Annex 6. KPI Tables

186-188; 322

Balance of collective agreements, particularly in the field of health and safety at work..

Material

403-4 (2018)

3. PEOPLE - Boosting our talent, being diverse and inclusive / 3.5 Social dialogue

Annex 6. KPI Tables

186-188; 332

Mechanisms and procedures that the company has to promote the involvement of workers in the management of the company, in terms of information, consultation and participation.

Material

3-3

3. PEOPLE - Boosting our talent, being diverse and inclusive / 3.5 Social dialogue

186-188

Training

The policies implemented in the field of training

Material

3-3

404-2 (2016)

3. PEOPLE - Boosting our talent, being diverse and inclusive / 3.4 Cellnex: A place to grow / Growing Talent / Talent Academy

Annex 6. KPI Tables

182-183; 329-330

The total amount of training hours by professional categories

Material

404-1 (2016)

3. PEOPLE - Boosting our talent, being diverse and inclusive / 3.4 Driving efficiency and performance / Talent Growth - Training hours

Annex 6. KPI Tables

182-183; 329-330

Accessibility

Universal accessibility for people with disabilities

Material

3-3

3. PEOPLE - Boosting our talent, being diverse and inclusive / 3.1 People strategy

155

Equality

Measures taken to promote equal treatment and opportunities between men and women

Material

3-3

3. PEOPLE - Boosting our talent, being diverse and inclusive / 3.2 Culture: Empowering our People / Equity, Diversity, and Inclusion

165-171

Equality plans, measures adopted to promote employment, protocols against sexual and gender-based harassment, integration and the universal accessibility of people with disabilities.

Material

3-3

3. PEOPLE - Boosting our talent, being diverse and inclusive / 3.2 Culture: Empowering our People / Equity, Diversity, and Inclusion

165-171

The policy against all types of discrimination and, where appropriate, management of diversity

Material

3-3

3. PEOPLE - Boosting our talent, being diverse and inclusive / 3.2 Culture: Empowering our People / Equity, Diversity, and Inclusion

165-171

Human Rights

Application of due diligence procedures in human rights. Prevention of the risks of violation of human rights and, where appropriate, measures to mitigate, manage and repair possible abuse

Material

3-3

2-23

2-24

2. GOVERNANCE - Showing what we are, acting with integrity / 2.1 Corporate Governance / 2.1.3 Ethics and Compliance

4. SOCIETY - Being a facilitator of social progress / 4.4 Commitment to Human Rights

101-105; 220

Complaints about cases of violation of human rights.

Material

406-1 (2016)

4. SOCIETY - Being a facilitator of social progress / 4.4 Commitment to Human Rights

220

Promotion and compliance with the provisions of the fundamental Conventions of the International Labor Organisation related to respect for freedom of association and the right to collective bargaining, the elimination of discrimination in employment and occupation, the elimination of forced or compulsory labor and the effective abolition of child labor.

Material

3-3

406-1 (2016)

407-1 (2016)

408-1 (2016)

409-1 (2016)

3. PEOPLE - Boosting our talent, being diverse and inclusive / 3.5 Social dialogue

4. SOCIETY - Being a facilitator of social progress / 4.4 Commitment to Human Rights

186-188;220

Corruption and bribery

Measures taken to prevent corruption and bribery.

Material

3-3

2-23

2-24

205-2 (2016)

205-3 (2016)

2. GOVERNANCE - Showing what we are, acting with integrity / 2.1 Corporate Governance / Ethics and Compliance

101-105

Measures to combat money laundering

Material

205-3 (2016)

2. GOVERNANCE - Showing what we are, acting with integrity / 2.1 Corporate Governance / Ethics and Compliance

101-105

Contributions to foundations and non-profit entities

Material

413-1 (2016)

In 2023, the total amount of donations was €1,179,816 (€3,430,905 in 2022). The total contribution to sponsorship activities or events by Cellnex Telecom was €315,392 euros (€265,342 in 2022) and the total contribution to associations of which Cellnex is a member was €666,804.42 (€722,693 in 2022).

-

Society

The company's commitments to sustainable development

The impact of society's activity on employment and local development. The impact of the company's activity on local populations and the territory.

Material

3-3

203-1 (2016)

413-1 (2016)

1. CELLNEX - Bring the world closer through telecom connectivity

1.2 Connectivity solutions / Innovation

1.3 Our commitment / Our commitment to the Sustainable Development Goals (SDG)

4. SOCIETY - Being a facilitator of social progress

51-59; 74-86; 198-220

The relationships maintained with the actors of the local communities and the modalities of dialogue with them

Material

2-29

413-1 (2016)

1. CELLNEX - Bring the world closer through telecom connectivity / 1.3 Our commitment / Stakeholders

2. GOVERNANCE - Showing what we are, acting with integrity / 2.6 Investor relations

4. SOCIETY - Being a facilitator of social progress

78-87; 144-152; 198-220

Association or sponsorship actions

Material

2-28

1. CELLNEX - Bring the world closer through telecom connectivity / 1.3 Our commitment / Stakeholders

In 2023, the total amount of donations was €1,179,816 (€3,430,905 in 2022). The total contribution to sponsorship activities or events by Cellnex Telecom was €315,392 (€265,342 in 2022) and the total contribution to associations of which Cellnex is a member was €666,804.42 (€722,693 in 2022). In 2023, the contribution to Tallon Boury & Associés amounted to €77,000 (€66,000 in 2022), the contribution to Mayer Brown to €3,500 (€21,000 in 2022), the contribution to Brunswick to €521,224.43 (€532,468 in 2022), and the contribution to Hill+Knowlton Strategies to €61,000 (€45,082 in 2022).

78-87

Subcontracting and suppliers

The inclusion in the procurement policy of social issues, gender equality and environmental issues. Consideration in relations with suppliers and subcontractors of their social and environmental responsibility

Material

3-3

2-6

308-1 (2016)

308-2 (2016)

414-1 (2016)

414-2 (2016)

1. CELLNEX - Bring the world closer through telecom connectivity / 1.3 Our commitment / ESG Master Plan

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach / 5.5 Carbon footprint and Climate Change / Carbon management throughout the value chain

6. VALUE CHAIN - Extending our commitment to the value chain / 6.2 Suppliers / Supplier evaluation, selection, and monitoring

68-73; 245; 266-267

Supervision systems and audits and their results

Material

3-3

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach / 5.5 Carbon footprint and Climate Change / Carbon management throughout the value chain

6. VALUE CHAIN - Extending our commitment to the value chain / 6.2 Suppliers / Supplier evaluation, selection, and monitoring

Annex 6. KPI Tables

245; 266-267; 332

Consumers

Measures for the health and safety of consumers

Material

3-3

416-1 (2016)

2. GOVERNANCE - Showing what we are, acting with integrity / 2.2 Global Management System / 2.2.2 Information security

111-112

Claims systems, complaints received and resolution of them

Material

3-3

418-1 (2016)

2. GOVERNANCE - Showing what we are, acting with integrity / 2.2 Global Management System / 2.2.2 Information security

6. VALUE CHAIN - Extending our commitment to the value chain / 6.1 Customers / Our customer-centric approach

 111-112; 255

Tax informationl

Benefits obtained country by country

Material

3-3

207-4 (2019)

2. GOVERNANCE - Showing what we are, acting with integrity / 2.4 Financial information

This information is provided in detail in the Consolidated Annual Accounts.

136-140

Taxes paid on benefits

Material

3-3

207-1 (2019)

207-4 (2019)

2. GOVERNANCE - Showing what we are, acting with integrity / 2.4 Financial information. This information is provided in detail in the Consolidated Annual Accounts

136-140

Public subsidies received

Material

201-4 (2021)

No significant financial assistance has been received from the government.

-

Proportion of eligible and aligned, eligible non-aligned and non-eligible economic activities in relation to the volume of business, calculated according to the criteria of section 1.1.1. of Annex I of Delegated Regulation 2021/2178 and its subsequent amendments

Material

Regulation (EU) 2020/852 on Taxonomy Commission Delegated Regulation (EU) 2021/2178 supplementing Regulation (EU) 2020/852 on Taxonomy

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach / 5.3 EU Taxonomy

Annex 7. EU Taxonomy

231-232; 340-364

Proportion of eligible and aligned, eligible non-aligned and non-eligible economic activities in relation to investments in fixed assets (CapEx), calculated according to the criteria of section 1.1.2. of Annex I of Delegated Regulation 2021/2178 and its subsequent modifications

Material

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach / 5.3 EU Taxonomy

Annex 7. EU Taxonomy

231-232; 340-364

Proportion of eligible and aligned, eligible non-aligned and non-eligible economic activities in relation to operating expenses (OpEx), calculated according to the criteria of section 1.1.3. of Annex I of Delegated Regulation 2021/2178 and its subsequent modifications

No material

As this is a non-material topic, reporting this information is not applicable.

-

Breakdown of qualitative contextual information for the correct interpretation of the previously detailed indicators, as detailed in section 1.2. of Annex I of Delegated Regulation 2021/2178 and its subsequent modifications

Material

Commission Delegated Regulation (EU) 2021/2178 supplementing Regulation (EU) 2020/852 on Taxonomy - Annex 1.2

5. ENVIRONMENT - Growing with a long-term sustainable environmental approach / 5.3 EU Taxonomy

Annex 7. EU Taxonomy

231-232; 340-364