Material Agreement (Form 8-K)

On July 14, 2026, SBA Communications Corporation (the "Company") entered into an underwriting agreement with Morgan Stanley & Co. LLC, Barclays Capital Inc., Wells Fargo Securities, LLC and Goldman Sachs & Co. LLC, as Representatives for the several Underwriters (the "Underwriters"), pursuant to which the Company agreed to issue and sell to the Underwriters $1,350,000,000 aggregate principal amount of its 4.875% Senior Notes due 2030, $1,350,000,000 aggregate principal amount of its 5.150% Senior Notes due 2031 and $800,000,000 aggregate principal amount of its 5.450% Senior Notes due 2033 in a registered public offering (the "Offering") pursuant to the Company's shelf registration statement on Form S-3 (Registration File No. 333-277527). The Company intends to use the net proceeds of the Offering to repay in full its senior secured term loan that matures on January 25, 2031 and repay in full outstanding borrowings under its senior secured revolving credit facility that matures on January 25, 2029 (the "Revolving Credit Facility").

Relationships

The Company has previously entered into commercial financial arrangements with each of the Underwriters, and/or their respective affiliates, and each of these entities and/or its affiliates has in the past provided financial, advisory, investment banking and other services to the Company and its affiliates, including serving (1) as a lender and/or in other related capacities in connection with the Third Amended and Restated Credit Agreement, dated as of January 25, 2024, among SBA Senior Finance II LLC, the several lenders from time to time party thereto, and Toronto Dominion (Texas) LLC, as administrative agent (as amended, supplemented or modified from time to time, the "Senior Credit Agreement") and the various term loans and Revolving Credit Facility under the Senior Credit Agreement or (2) as a book runner and/or an initial purchaser for the Company's various series of outstanding debt instruments.